The 1938 penny coin value depends on rarity, condition, and errors. This coin was minted in Philadelphia, Denver, and San Francisco. Many collectors search for errors that increase its worth. Understanding its value helps buyers and sellers make better decisions.
1938 Penny Coin Value Overview
The 1938 Lincoln Wheat Penny is a collectible coin. It was minted in three locations:
- Philadelphia Mint (No Mint Mark)
- Denver Mint (“D” Mint Mark)
- San Francisco Mint (“S” Mint Mark)
Each variation has different values based on condition and demand.
1938 Penny Coin Errors List
Error coins are valuable due to their uniqueness. The most common errors include:
1. Doubled Die Obverse (DDO)
- This error happens during the striking process.
- It creates a doubled appearance on the letters or numbers.
- Coins with this error are worth more.
2. Off-Center Strike
- The coin design is misaligned during minting.
- The higher the off-center percentage, the higher the value.
- 50% off-center with visible date is highly valuable.
3. Repunched Mint Mark (RPM)
- A second impression of the mint mark appears slightly offset.
- This is more common on “D” and “S” mint marks.
- Collectors pay a premium for well-defined RPMs.
4. BIE Error
- A small die break appears between the “B” and “E” in LIBERTY.
- This looks like a small “I” between letters.
- Popular among Lincoln penny collectors.
5. Clipped Planchet
- A portion of the coin is missing due to improper cutting.
- The missing section can be straight or curved.
- Value depends on the clip size and shape.
1938 Penny Coin Value by Mint Mark
1938 No Mint Mark (Philadelphia) Penny Value
- Common in circulated condition.
- Higher grades fetch premium prices.
- Value ranges from $0.10 to $20.
1938-D Penny Value
- Minted in Denver with “D” mark below the date.
- Scarcer in high grades.
- Worth between $0.15 and $40.
1938-S Penny Value
- Minted in San Francisco with “S” mark.
- More valuable than “D” and No Mint Mark.
- Value varies from $0.20 to $50.
1938 Penny Coin Grading
Coin condition affects value. Grading is based on wear and strike quality:
- Good (G-4): Heavy wear, date and design visible.
- Fine (F-12): Moderate wear, but details remain clear.
- Extremely Fine (EF-40): Light wear, sharp details.
- Uncirculated (MS-60+): No wear, strong luster.
Factors Affecting 1938 Penny Coin Value
- Mint Mark: “S” and “D” are worth more than No Mint Mark.
- Condition: Higher grades increase value.
- Errors: Unique errors add significant worth.
- Market Demand: Collector interest influences pricing.
Where to Buy and Sell 1938 Penny Coins
- Online Marketplaces: eBay, Heritage Auctions.
- Coin Dealers: Local shops specialize in rare coins.
- Coin Shows: Best for networking with collectors.
- Auction Houses: High-value coins sell well here.
FAQs
1. How much is a 1938 penny worth?
It ranges from $0.10 to $50, depending on mint mark and condition.
2. What is the rarest 1938 penny error?
Doubled die obverse and off-center strikes are the rarest errors.
3. Where can I sell my 1938 penny?
Online platforms, coin dealers, and auctions are the best options.
4. Is a 1938 wheat penny made of copper?
Yes, it is 95% copper and 5% tin and zinc.
5. Does a 1938 penny have silver?
No, it is a copper-based coin with no silver content.