The Lincoln Wheat penny is one of the most collectible American coins. The series was in circulation for more than 100 years, but collectors’ interest has never diminished. As expected, their primary focus is on specimens that weren’t in circulation and have stayed in perfect condition by now.
The three mints produced nearly 600,000,000 coins, which was the regular circulation of pennies in those years. Therefore, buying any of these pieces is neither demanding nor expensive. However, the 1948 Penny value can vary, so leave the assessment to an expert.
1948 Lincoln Wheat Penny History
The Lincoln penny was a Victor David Brenner’s design, and the first penny with this look was minted in 1909. This coin paid tribute to former American President Abraham Lincoln, marking his 100th birth anniversary.
1948 Lincoln wheat penny |
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| Location | Year | Minted |
| Philadelphia | 1948 | 317,570,000 |
| Denver | 1948 D | 172,637,500 |
| San Francisco | 1948 S | 81,735,000 |
| Total | / | 571,942,500 |
It was noted that then-President Theodore Roosevelt ordered a change in the penny’s previous appearance. He had a different opinion of the right way to mark such a jubilee.
1948 Lincoln wheat penny |
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| Face value | One cent ($0.01) |
| Compound | Copper (95%) plus tin and zinc (5%) |
| Coin thickness | 0.07677 inches (1.95 mm) |
| Coin weight | 0.10970 ounces (3.11 g) |
| Coin diameter | 0.75 inches (19.05 mm) |
| Edge | Plain |
| Shape | Round |
The 1948 Lincoln wheat penny has Abraham Lincoln’s profile facing right on the obverse and LIBERTY behind it. In front of the former President’s profile is the minting date, while the mint mark is placed below. You can also notice the phrase IN GOD WE TRUST at the upper coin’s rim.
1948 Indian head penny value* |
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| Quality | 1948 | 1948 D | 1948 S |
| Fine | $0.05 | $0.05 | $0.1 |
| Very fine | $0.1 | $0.1 | $0.2 |
| Extra fine | $0.2 | $0.2 | $0.3 |
| AU | $0.4 | $0.4 | $0.4 |
| MS 60 | $1 | $0.7 | $1.1 |
| MS 63 | $2.3 | $2.3 | $3.3 |
*by USA Coin book
The ONE CENT denomination is written on the reverse, with the UNITED STATES OF AMERICA below. Two wheat stalks stretch along the coin side edges, with the Latin saying E PLURIBUS UNUM on the upper coin rim.
1948 Lincoln Wheat Penny Type
Three mints in Philadelphia, Denver, and San Francisco produced precisely 571,942,500 Lincoln pennies in 1948.
1948 Lincoln wheat penny from Philadelphia
The 1948 Lincoln penny without the mint mark originated from Philadelphia. The mint located in that town produced 317,570,000 coins, making them pretty common on the coin market today.
1948 Lincoln wheat penny value* |
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| Year | Extra fine quality | Uncirculated |
| 1948 | $0.2 | $0.35 |
| 1948 D | $0.2 | $0.35 |
| 1948 S | $0.2 | $0.35 |
*by JM Bullion
As a result, you only need five cents to buy this penny in good condition. However, the MS 67 rating typically raises the price of $500.
1948 D Lincoln wheat penny
The Denver mint produced 172,637,500 Lincoln pennies in 1948. You will recognize this coin by the D mark placed below the date on the obverse.
1948 Lincoln wheat penny value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1948 | $0.02 | $0.02 | $0.04 | $1.49 |
| 1948 D | $0.02 | $0.02 | $0.04 | $2.33 |
| 1948 S | $0.03 | $0.03 | $0.05 | $2.34 |
*by CoinStudy
Since this piece is abundant on the coin market, you can get one in good condition for only five cents. On the other hand, it is necessary to set aside a little less than $140 for an MS 67 rated specimen.
1948 S Lincoln wheat penny
In 1948, the San Francisco mint struck 81,735,000 Lincoln pennies. You can effortlessly recognize any of them by finding the mint mark S on the obverse.
1948 Lincoln wheat penny value* |
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| Quality | 1948 | 1948 D | 1948 S |
| Good | $0.03 | $0.03 | $0.03 |
| Very good | $0.07 | $0.07 | $0.1 |
| Fine | $0.08 | $0.2 | $0.15 |
| Very fine | $0.2 | $0.2 | $0.2 |
| Extra fine | $0.2 | $0.2 | $0.3 |
| AU | $0.4 | $0.2 | $0.5 |
| UNC | $3 | $3 | $1.9 |
*by Numista
Even though this mint struck fewer pennies than the other two, produced coins are still common and inexpensive. Therefore, you can quickly find a piece in excellent condition on the current coin market.
You only need to set aside 10 cents for a specimen in good condition in most cases. Coins with an MS 67 rating are worth more, but not more than $80.
1948 Lincoln Wheat Penny Rarities and Key Dates
The 1948 Lincoln penny had extensive production, and consequently, it is not a rare and valuable piece nowadays. However, you can come across a coin with an error that will cost you more than an average specimen.
1948 Lincoln wheat penny value* |
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| Quality | 1948 | 1948 D | 1948 S |
| Good | $0.05 | $0.05 | $0.06 |
| Very good | $0.05 | $0.06 | $0.07 |
| Fine | $0.06 | $0.07 | $0.08 |
| Very fine | $0.07 | $0.08 | $0.09 |
| Extra fine | $0.1 | $0.1 | $0.13 |
| Uncirculated | $0.15 | $0.15 | $0.15 |
| Brilliant uncirculated | $0.46 | $0.5 | $0.85 |
*by Hobbizine
When it comes to the 1948 Lincoln penny, you can find a double die penny struck in any of three mints. Additionally, you can also look for pennies with off-center punches and repeated mint marks.
1948 Lincoln Wheat Penny Grading
For numismatists, the most important thing is the coin condition. That is why high-rated pennies are the most sought among collectors, whether experts or beginners.
1948 Lincoln wheat penny value* |
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| Quality | 1948 | 1948 D | 1948 S |
| Very fine | $0.05 | $0.05 | $0.1 |
| Extra fine | $0.2 | $0.2 | $0.25 |
| Uncirculated | $0.3 | $0.3 | $0.35 |
| MS 63 | $0.85 | $0.85 | $1 |
| MS 65 | $18 | $30 | $16 |
| MS 66 | $184 | $46 | $23 |
| MS 67 | $488 | $138 | $74 |
*by CoinHelpU
Remember that professionally rated coins always have an advantage and are often more pricey. However, you can check the penny based on existing guidelines and determine whether it is worth asking an expert for an opinion.
Uncirculated – A penny placed in safekeeping immediately after minting is considered uncirculated. It has no signs of wear on the surface and still has its original luster. The relief is intact, as are all the prominent details of Lincoln’s profile. Since this piece is in perfect condition, it is desirable for any collector.
1948 Lincoln wheat penny value* |
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| Quality | 1948 | 1948 D | 1948 S |
| Good | $0.18 | $0.22 to $0.23 | $0.22 to $0.23 |
| Very good | $0.18 | $0.22 to $0.23 | $0.22 to $0.23 |
| Fine | $0.19 | $0.25 to $0.27 | $0.25 to $0.27 |
| Very fine | $0.19 | $0.27 to $0.29 | $0.27 to $0.29 |
| Extra fine | $0.2 to $0.21 | $0.3 to $0.33 | $0.3 to $0.33 |
| AU | $0.21 to $0.22 | $0.35 to $0.4 | $0.35 to $0.4 |
| MS 60 | $0.25 to $0.27 | $0.4 to $0.5 | $0.4 to $0.5 |
| MS 61 | $0.27 to $0.29 | $0.4 to $0.5 | $0.4 to $0.5 |
| MS 62 | $0.3 to $0.33 | $0.5 to $0.7 | $0.5 to $0.7 |
| MS 63 | $0.4 to $0.5 | $0.8 to $1 | $0.8 to $1 |
| MS 64 | $0.6 to $0.7 | $1.5 to $1.8 | $1.5 to $1.8 |
| MS 65 | $2.1 to $2.4 | $3.38 to $4 | $3.8 to $4 |
| MS 66 | $10.8 to $13 | $10.8 to $13 | $13.5 to $15.7 |
| MS 67 | $47.2 to $61 | $47.2 to $61 | $49.9 to $63 |
*by Greysheet
Extra fine – The coin with this rating has spent a short time in circulation, which was enough to lose the original shine.
On the relief are visible small flattened areas, particularly on Lincoln’s cheek. On the other hand, the lines of hair, jaw, and lapel of Lincoln’s coat are still clearly expressed, making this coin beautiful and collectible.
1948 Lincoln wheat penny value* |
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| Quality | 1948 R/B | 1948 R |
| MS 63 | $0.5 to $0.7 | $0.8 to $1 |
| MS 64 | $0.7 to $0.8 | $1.9 to $2.1 |
| MS 65 | $4 to $4.9 | $10.8 to $13.5 |
| MS 66 | $13.5 to $20.2 | $81 to $101 |
| MS 67 | $61 to $74 | $1,880 to $2,160 |
*by Greysheet
Fine – The coin rated in this way was in circulation for a while. Unfortunately, even that short period left traces on its surface.
That is why you can notice slight scratches, a bit flattened relief, and numerous signs of wear that are particularly visible on Lincoln’s coat, jaw, and cheek lines.
1948 Lincoln wheat penny value* |
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| Quality | 1948 D R/B | 1948 D R | 1948 S R/B | 1948 S R |
| MS 63 | $0.9 to $1.1 | $0.8 to $1 | $0.9 to $1.1 | $0.8 to $1 |
| MS 64 | $1.8 to $2 | $1.9 to $2.1 | $1.8 to $2 | $1.9 to $2.1 |
| MS 65 | $4 to $4.9 | $10.8 to $13.5 | $4 to $4.9 | $10.8 to $13.5 |
| MS 66 | $13.5 to $20.2 | $40.5 to $54 | $16.2 to $22.5 | $27 to $33.7 |
| MS 67 | $61 to $74 | $585 to $715 | $63 to $67 | $143 to $176 |
*by Greysheet
Good – Such a low rating shows that this penny is in poor condition after spending years or decades in circulation.
Significant damage is often visible on the surface, the relief is almost unrecognizable, and the details are almost entirely flattened. Due to these damages, this kind of coin is often not collectible.
Summary
The 1948 Lincoln penny value mainly depends on its condition and the mint mark. You should also check whether the coin you are interested in is rare or an error. In most cases, this piece is not of great value, but that doesn’t mean it can’t nicely complement your collection, especially if you are a novice.
