Pennies have been present in the US money market for over 110 years, with varying variations in their appearance. These coins are the most sought-after among collectors despite their low face value. The generally accepted rule is that the older the penny is, the more interesting it is to collect.
If you want to start your Lincoln penny collection, you need to know what to pay special attention to when estimating each piece. In this case, it is certainly of particular importance to check the 1929 penny value, condition, and preservation levels.
1929 Lincoln Penny History
In 1909, the US Mint hired sculptor Victor David Brenner to redesign a one-cent coin in honor of the 100th anniversary of Lincoln’s birth. The US then-President Theodore Roosevelt personally chose him to finish this honorable job.
1929 Lincoln penny |
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| Location | Year | Minted | Value |
| Philadelphia | 1929 | 185,262,000 | $0.2 to $14 |
| San Francisco | 1929 S | 50,148,000 | $0.5 to $29 |
| Denver | 1929 D | 41,730,000 | $0.4 to $37 |
| Total | / | 277,140,000 | / |
Initially, Brenner’s design included his full name written on the reverse, but the Mint director insisted on the initials. Therefore, the engraver placed them between the wheat stalks on the reverse.
However, the public felt that the initials were too prominent, and numerous negative reactions led to their erasure from the design. The designer’s initials were returned to the coin’s obverse in 1918, and they are still there today. The new Lincoln penny design appeared only in 1959.
1929 Lincoln penny |
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| Face value | One cent ($0.01) |
| Compound | 95% copper and 5% tin or zinc |
| Coin thickness | 0.07677 inches (1.95 mm) |
| Coin weight | 0.10970 ounces (3.11 g) |
| Coin diameter | 0.75 inches (19.05 mm) |
| Shape | Round |
| Edge | Plain |
The Lincoln penny look from 1929 is no different from other pennies. On the obverse is an Abraham Lincoln relief portrait. Above it is the motto IN GOD WE TRUST, while the minting date, 1929, is in profile front. On the profile’s left side is the inscription LIBERTY.
On the reverse is the dominant face value of ONE CENT and the inscription UNITED STATES OF AMERICA. Wheat stalks extend along the left and right edges, and this coin is better-known as Wheat penny because of them. The Latin saying E PLURIBUS UNUM extends along the coin’s upper edge.
1929 Lincoln Penny Types
Three mints, Philadelphia, San Francisco, and Denver minted 277,140,000 Lincoln pennies in 1929. Except for those produced in Philadelphia, coins have the S or D mint marks.
1929 Lincoln penny
The Philadelphia mint produced 185,262,000 Lincoln pennies in 1929. As I have already mentioned, there are no mint marks on these coins. Thanks to the large production, it is not difficult to find these pennies on the market nowadays.
1929 Lincoln penny value* |
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| Quality | 1929 | 1929 S | 1929 D |
| Good | $0.2 | $0.55 | $0.4 |
| Very good | $0.3 | $1 | $0.9 |
| Fine | $0.3 | $1.8 | $1.4 |
| Very fine | $0.8 | $2.6 | $2.5 |
| Extra fine | $2.2 | $6.3 | $6 |
| About uncirculated | $4.4 | $16 | $14 |
| MS 60 | $8.9 | $23 | $27 |
| MS 63 | $16 | $32 | $41 |
*by USA Coin book
For that reason, you can also find these pennies at a very affordable price and pay only 20 cents for a coin with a good grade. However, the MS 65 rating raises the coin price to almost $100.
On the other hand, the record amount for this penny is $5,581.25. That is how much money a collector sat aside at the 2014 auction for 1926 MS 67+ RD Lincoln penny.
1929 S Lincoln penny
On the West Coast, the US Mint has always relied on the San Francisco mint. This mint produced 50,148,000 Lincoln pennies in 1929, and you can recognize them thanks to the S mint mark on the obverse. Surprisingly, they have never belonged to the rare coins, although the number of produced pieces was not high.
1929 Lincoln penny* |
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| Year | Quality | ||
| Fine | Extra fine | Uncirculated | |
| 1929 | $0.3 | $2 | $4 |
| 1929 S | $1.65 | $5.8 | $14 |
| 1929 D | $1.25 | $5.5 | $13 |
*by JM Bullion
For as little as 50 cents, you can get a 1929 S Lincoln penny with a good rating, while you need to pay $300 for the MS 65 graded piece. The record-holder is a 1929 S Lincoln penny with an MS 66+ rating sold at auction for $14,400 in 2019.
1929 D Lincoln penny
The Denver mint produced 41,730,000 pennies in 1929, making this mintage the lowest that year. Despite being small in numbers, these pieces are not rare in the coin market. Plus, many of them are in poor condition due to years spent in circulation.
1929 Lincoln penny value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1929 | $0.08 | $0.3 | $2 | $5 |
| 1929 S | $0.43 | $1.25 | $4.8 | $13 |
| 1929 D | $0.38 | $0.8 | $4.4 | $18 |
*by CoinStudy
You can find this penny in good condition for only 40 cents, while the 1929 MS 65Â Lincoln penny typically costs $450. An auction record for the piece with an MS 66 grade is $5,290.
1929 Lincoln Penny Rarities and Key Dates
As you know, errors occasionally appear on the coin market. Collectors prefer choosing these specimens because of their uniqueness and rarity and thus increase their collection value many times over.
1929 Double die Lincoln penny
Duplicate matrix is the most common mistake that occurs during coin minting. In 1929, this mistake appeared in all three mints. You can see a visible doubling in the inscription E PLURIBUS UNUM and wheat stalks on the reverse of pennies produced in Philadelphia.
A 1929 D Lincoln penny doubling is visible in the letters IN GOD WE TRUST on the coin obverse. On the other hand, the San Francisco mint doubled the letters of both inscriptions on the obverse, IN GOD WE TRUST and LIBERTY. These coins’ value varies between $10 and $100.
1929 Lincoln penny value* |
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| Quality | 1929 | 1929 S | 1929 D |
| Good | $0.2 | $0.5 | $0.4 |
| Very good | $0.25 | $0.9 | $0.85 |
| Fine | $0.3 | $1.65 | $1.25 |
| Very fine | $1.5 | $3.5 | $3.5 |
| Extra fine | $3 | $7 | $7 |
| AU | $20 | $16 | $15 |
| MS 60 | $35 | $30 | $25 |
| MS 63 | $47 | $44 | $62 |
| MS 64 | $51 | $104 | $172 |
| MS 65 | $99 | $299 | $446 |
*by Coin HelpU
1929 Lincoln penny with an off-center error
This error usually lacked the design part because it was not well-centered. The most valuable are coins with up to 65% off-center error worth several hundred dollars on the market.
1929 Lincoln Penny Value Grading
Valuation is one of the ways collectors determine whether a coin is worth collecting or not. It is necessary to evaluate each coin’s preservation level and possible signs of wear on its surface.
Uncirculated – The coin in the mint state wasn’t in circulation at all. Therefore, you can’t notice any damage on its surface, such as scratching or staining. You can still see the original luster and clearly visible relief details, making such a piece valuable among collectors.
1929 Lincoln penny value* |
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| Quality | 1929 | 1929 S | 1929 D |
| Good | $0.1 | $0.15 | $0.2 |
| Very good | $0.15 | $0.25 | $0.25 |
| Fine | $0.2 | $0.4 | $0.35 |
| Very fine | $0.6 | $0.85 | $0.65 |
| Extra fine | $1.75 | $6.25 | $1.75 |
| Uncirculated | $4.25 | $12.5 | $11 |
| Brilliant uncirculated | $7.25 | $25 | $25 |
*by Hobbizine
Extra fine – This coin was in circulation for a short time, and that period didn’t affect the penny’s appearance significantly. Such a piece often looks almost perfect, but an expert can notice slight damage to the relief and tiny imperfections, particularly on the highest points.
Fine -You can see large flattened high relief areas, particularly hair waves and curls above Lincoln’s ear. Luckily, portrait contours are mostly intact, although many scratches are visible over the entire coin surface.
1929 Lincoln penny value* |
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| Quality | 1929 | 1929 S | 1929 D |
| Good | $0.2 to $0.3 | $0.4 to $0.7 | $0.4 to $0.7 |
| Very good | $0.3 to $0.4 | $0.8 to $1.6 | $0.8 to $1.3 |
| Fine | $0.3 to $0.4 | $2 to $2.6 | $1.4 to $2.2 |
| Very fine | $0.4 to $2.45 | $2.6 to $6.6 | $2.6 to $6.2 |
| Extra fine | $2.65 to $4.4 | $6.7 to $11.7 | $6 to $10.5 |
| AU | $5.4 to $7.3 | $15.5 to $21 | $14.2 to $24.3 |
| MS 60 | $6.75 to $8.1 | $20.2 to $24.3 | $25.6 to $30.8 |
| MS 61 | $7.7 to $9.2 | $23 to $27.5 | $31 to $37.3 |
| MS 62 | $8.2 to $9.9 | $24.3 to $29.2 | $33.7 to $40.5 |
| MS 63 | $9.4 to $11.3 | $27 to $32.4 | $54 to $65 |
| MS 64 | $16.2 to $19.4 | $47.2 to $57 | $81 to $108 |
| MS 65 | $27 to $32.4 | $81 to $97 | $156 to $195 |
*by Greysheet
Good – A good grade describes a coin that spent years in circulation. This penny shows numerous signs of wear and even damage, including scratches and breakage. The Lincoln portrait is a bit flattened and without hair details behind his ear, while the date and letters are legible but barely visible.
Summary
Finding an excellent 1929 Lincoln penny for your collection is not complicated. There are enough coins on the money market at very affordable prices, but their value will vary depending on the mint mark, condition, and preservation level. Only rare errors will cost you more, but they are always worth money.
