Most collectors like the Lincoln wheat penny series. Basically, the 1918 Penny value is in the fact it is over a century old. This coin witnessed World War I end and horrible Spanish influenza that killed 500,000 people in the US.
It is also known for re-adding the designer’s VDB initials to the obverse under Lincoln bust’s shoulder. That won’t add additional value to this penny, but collectors like that detail. Three mints produced this penny in 1918, and only rare pieces are highly appreciated. Let’s see.
1918 Lincoln Wheat Penny History
The Lincoln wheat pennies appeared in 1909 and were minted until 1958. Victor David Brenner‘s beautiful obverse design shows President Abraham Lincoln facing right.
You can see a motto IN GOD WE TRUST above his head, the word LIBERTY on the left, and the date on the right coin side.
The modest reverse features the denomination ONE CENT and the UNITED STATES OF AMERICA in the center. Two wheat stalks surround the composition, with the saying E PLURIBUS UNUM on the top coin rim.
1918 Lincoln wheat penny |
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| Location | Year | Minted |
| Philadelphia | 1918 | 288,104,634 |
| San Francisco | 1918 S | 34,680,000 |
| Denver | 1918 D | 47,830,000 |
| Total | / | 370,614,634 |
Like other standard coins in the series, this penny contains 95% copper, while the rest alloy composition is tin and zinc. Specimens minted in San Francisco and Denver have the mint mark S or D below the date.
1918 Lincoln wheat penny |
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| Face value | $0.01 (1 cent) |
| Compound | Copper (95%) with tin and zinc |
| Coin weight | 0.10970 ounces (3.11 g) |
| Coin diameter | 0.75 inches (19.05 mm) |
| Coin thickness | 0.05984 (1.52 mm) |
| Shape | Round |
| Edge | Plain |
The coin is unique because of the designer’s initials at the bottom rim. The original penny struck in 1909 had these initials of the reverse, but the American public found them too prominent. Therefore, the US Mint removed controversial letters the same year.
Then, restored initials re-appear in 1918 at a more discreetly place, below Lincoln’s shoulder. They typically disappear after the penny spends some time in circulation, but that doesn’t affect its value.
1918 Lincoln Wheat Penny Types
1918 Lincoln wheat penny
The Philadelphia mint made impressive 288,104,634 Lincoln wheat pennies in 1918. Such a number makes them abundant and inexpensive on the current market.
1918 Lincoln wheat penny value* |
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| Quality | 1918 | 1918 S | 1918 D |
| Good | $0.2 | $0.6 | $0.8 |
| Very good | $0.3 | $1.1 | $1.4 |
| Fine | $0.6 | $2.3 | $2.8 |
| Very fine | $1.7 | $3.3 | $4.5 |
| Extra fine | $3.3 | $13 | $13 |
| AU | $9.1 | $36 | $39 |
| MS 60 | $18 | $91 | $91 |
| MS 63 | $31 | $205 | $160 |
*by USA Coin book
You can find pieces in low grades for only $0.2 to $9, while those in the mint mark can be worth $30 to $65. You should pay more only for a piece in MS 65 grade that can reach a price of $200 to $250.
1918 S Lincoln wheat penny
In 1918, the San Francisco mint struck precisely 34,680,000 Lincoln wheat pennies with the S mint mark. A typical coin is worth $0.6 to $35 in circulated condition, but you can see a noticeable rise in prices in highly graded pieces.
Such quality coins are typically worth $90 to $200. However, scarce pennies in MS 65 grade can reach $700 to $900 at auctions.
1918 D Lincoln wheat penny
1918 D Lincoln wheat pennies are relatively common in the series since the Denver mint produced 47,830,000 pieces this year. You can buy any coin that spent years in circulation for only $0.8 to $40.
1918 Lincoln wheat penny value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1918 | $0.2 | $0.5 | $3 | $8 |
| 1918 S | $0.5 | $2 | $11 | $32 |
| 1918 D | $0.75 | $2.5 | $12 | $35 |
*by JM Bullion
However, uncirculated specimens will be worth about $100 to $150. The most expensive is a penny in MS 65 grade, and you should set aside more than $500 if you want to buy such a beautiful piece. The most pricey is the 1918 D MS 67 red Lincoln wheat penny worth an impressive $54,000 to $62,000.
1918 Lincoln Wheat Penny Key Dates and Rarities
You can find a few rare 1918 Lincoln wheat penny types, but the interesting thing is that there are no doubled die coins minted this year. The best-appreciated rarities include:
1918 off-center Wheat penny – Collectors appreciate these rare coins, particularly those with significant off-center error. You can find 5% to 10% off-center coins that are typically worth $10 to $20, but you need to set aside hundreds of dollars for off-center errors of 50%.
1918 RB Lincoln wheat penny value* |
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| Quality | 1918 RB | 1918 S RB | 1918 D RB |
| MS 63 | $27 to $32.4 | $260 to $299 | $195 to $228 |
| MS 64 | $61 to $94 | $552 to $650 | $520 to $598 |
| MS 65 | $260 to $299 | $1,250 to $1,440 | $1,020 to $1,220 |
| MS 66 | $358 to $422 | $1,880 | $3,750 to $5,000 |
*by Greysheet
1918 Wheat penny with a die crack – When seeing small bumps on the coin surface, you can conclude that it is worth more money than usual. These changes result from damage, like cracks or gouges, on the die.
Typically, you need to pay $3 or $4 for such a piece, but the price will rise when die cracks are significant. In that case, the coin will be worth $10 to $20 and sometimes more.
1918 RD Lincoln wheat penny value* |
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| Quality | 1918 RD | 1918 S RD | 1918 D RD |
| MS 63 | $108 to $130 | $618 to $710 | $325 to $374 |
| MS 64 | $195 to $234 | $1,040 to $1,190 | $618 to $780 |
| MS 65 | $572 to $686 | $4,380 to $7,500 | $3,000 to $4,060 |
| MS 66 | $1,020 to $1,180 | / | $16,200 to $18,600 |
| MS 67 | $2,310 to $3,250 | / | $54,000 to $62,100 |
*by Greysheet
1918 Wheat penny with a die cud – Such an error appears when a coin has a die crack attached to its rim. You should pay at least $100 for such a piece.
1918 Wheat penny with a re-punched mint mark – This error appeared when working dies stamped the mint mark twice. Collectors like these specimens and are prepared to pay $5 to $20 for them, depending on the error significance.
1918 Penny Grading
Besides professional estimating, you can also check your Lincoln penny condition yourself. In this case, you need to follow official guidelines and check reference points on the coin surface.
Uncirculated – As always, such a penny has no signs of wear since it didn’t spend a minute in circulation. You can see beautiful mint luster on its surface, but it is possible to recognize red and red-brown shades, determining the coin value. Their texture is intact, and all delicate details are beautiful, like the first day after minting.
1918 Lincoln wheat penny value |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1918 | $0.1 | $0.4 | $3.4 | $8 |
| 1918 S | $0.4 | $0.9 | $9.2 | $38 |
| 1918 D | $0.5 | $1 | $14.2 | $39 |
*by CoinStudy
Extra fine – This piece shows light signs of wear on the surface, but the main details are primarily pristine. In fact, it is almost impossible to distinguish them from coins in the mint state without using a magnifying glass. Even then, you will notice only the smoothness of the highest portrait points and inscriptions.
Fine – This coin spent years in use, so many fine details have been flattened over time. You can still recognize Lincoln’s coat lapel lines, and his face and hair are mostly intact. However, you can notice changes in texture and partially toning over the coin surface.
1918 Lincoln wheat penny value* |
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| Quality | 1918 | 1918 S | 1918 D |
| Good | $0.3 to $0.4 | $0.4 to $0.7 | $0.7 to $1 |
| Very good | $0.4 to $0.6 | $0.8 to $1.3 | $1.1 to $1.5 |
| Fine | $0.5 to $0.7 | $1.5 to $2.1 | $1.5 to $2.4 |
| Very fine | $0.7 to $4.2 | $3.4 to $9.7 | $4 to $14.6 |
| Extra fine | $4.7 to $8 | $11.5 to $19.4 | $17.5 to $29.2 |
| AU | $9.8 to $14.6 | $35.1 to $68 | $37.8 to $7 |
| MS 60 | $13.5 to $16.2 | $74 to $89 | $81 to $97 |
| MS 61 | $16.2 to $19.4 | $117 to $136 | $104 to $125 |
| MS 62 | $17.96 to $21.55 | $140 to $168 | $119 to $137 |
| MS 63 | $21.60 to $25.92 | $195 to $224 | $143 to $172 |
| MS 64 | $54 to $65 | $273 to $314 | $234 to $269 |
| MS 65 | $228 to $262 | $715 to $878 | $488 to $561 |
*by Greysheet
Good – This penny spent years in circulation, so you can notice numerous signs of wear, scratching, and sometimes visible damage on its surface.
The portrait is mostly flattened, while the date and inscriptions are often poorly readable or even illegible. Coin in this grade is still collectible, but most collectors will avoid it since pieces in better condition are abundant and relatively inexpensive.
Summary
The 1918 Lincoln wheat penny is typically considered a common coin in series, without critical key dates. However, collectors will look for this piece to complete their collections. Plus, you can find exciting errors struck this year that are more appreciated than regular specimens.
