How Much is a 1958 Wheat Penny Worth? (Price Chart)

The Lincoln (wheat) penny has half a century of minting history. In those 50 years, from 1909 to 1958, the total amount of Lincoln wheat penny minted was 25,787,656,675. After 1958, the last minting year for this penny, this popular American coin got a new design.

This coin is not rare since the total circulation was over a billion coins this year. Although the 1958 penny value is insignificant, it is still a desirable piece among collectors like most other pennies. Believe it or not, some of them are still in circulation.

1958 Lincoln Penny Design

The 1958 Lincoln penny design was dedicated to one of the most influential people in American history. Designer Victor D. Brenner created the piece with a former President Abraham Lincoln image in the coin obverse.

Above Lincoln’s head is the inscription IN GOD WE TRUST, placed along the coin rim. There is also the word LIBERTY on Lincoln’s left, while you can find a date and the mint mark on his right side.

1958 Lincoln penny

Face value $0.01 (One cent)
Compound 95% copper, with 5% tin or zinc
Coin diameter 0.750 inches (19.05 mm)
Coin weight 0.067 (3.11 g)
Coin thickness 0.0598 inches (1.52 mm)
Shape Round
Edge Plain

The coin reverse is simple and includes huge lettering ONE CENT placed centrally. Below that, you can see the inscription UNITED STATES OF AMERICA surrounded with two wheat stalks for both sides. As usual, a Latin saying E PLURIBUS UNUM is placed on the top.

 

1958 Lincoln Penny Types

There is no significant difference between 1958 Lincoln pennies produced in various mints. The only thing that differentiates them is the mint mark placed right under the date. Two mints produced Lincoln Pennies this year:

  • Philadelphia produced pennies that hadn’t a particular mint mark
  • Denver produced pennies containing the typical D mint mark

1958 Lincoln penny

Location Year Minted Value
Philadelphia 1958 252,525,000 $0.10 to $1
Philadelphia 1958 proof 875,652 $8
Denver 1958 D 800,953,300 $0.10 to $1
Total / 1,054,353,952 /

This final year, two mints produced precisely 1,054,353,952 Lincoln wheat pennies in total, including proofs minted in Philadelphia.

1958 Lincoln penny that hadn’t contain a mint mark

1958 Lincoln penny that hadn't contain a mint mark
Image

The Philadelphia mint produced 252,525,000 Lincoln pennies in 1958, making this coin pretty common nowadays. Plus, most of them didn’t come into circulation since that was the last year of production.

That is why it is not difficult to find these coins in a mint state nowadays. You can buy a piece with almost imperceptible damage at an affordable price in the worst case.

1958 proof Lincoln penny

As in most previous years, Philadelphia mint produced proof pennies in 1958. The design of 875,652 proofs lasted much longer than in other coins with a mint finish. Plus, the grainy top layer made some pieces look the same as when they were new, but most of them lost their matte luster over the years.

1958 Lincoln penny value*

Quality 1958 1958 D
Fine $0.05 $0.05
Very fine $0.11 $0.11
Extra fine $0.13 $0.13
About uncirculated $0.16 $0.16
MS 60 $0.32 $0.32
MS 63 $1.11 $1.11
Proof $6.48 /

*by USA Coin book

As usual, proof Lincoln pennies minted in 1958 are similar to regular pennies. However, you can see they have a flat rim, while the standard coins have a rotund flange.

There is one more proof Lincoln penny type that is rarer than a typical variation. Its design and letterings are matte and have a highly reflective surface compared to other pieces. Those matte-designed 1958 proof Lincoln pennies are much more valuable than common proof coins.

1958 D Lincoln penny

1958 D Lincoln penny

The 1958 Lincoln penny with the D mark is a product of the Denver mint. It produced 800,953,000 wheat pennies that particular year. Since the coin’s design changed the following year, some pieces minted in this period spent years in stock.

1958 Lincoln penny value*

Year Extra fine quality Uncirculated quality
1958 $0.12 $0.15
1958 D $0.12 $0.15

*by JM Bullion

As a result, you can quickly find them in the mint state. That is the reason why none of these pennies doesn’t belong to the rare coin group.

 

1958 Doubled Die Lincoln Penny

1958 Doubled Die Lincoln Penny
Image

1958 Lincoln penny with Doubled Die obverse error is one of the rarest Lincoln pennies. As you can guess, it is also one of the most valuable coins in the series. In fact, you can count on your fingers pennies struck with this error.

1958 Lincoln penny value*

Year Quality
Good Fine Extra fine Uncirculated
1958 $0.02 $0.02 $0.04 $0.23
1958 D $0.02 $0.02 $0.04 $0.23

*by CoinStudy

These coins are easy to recognize. The error stands for gemination of the letterings IN GOD WE TRUST and LIBERTY on the penny obverse.

On some coins, you can see the same mistake with the date 1958, but it is not always noticeable. This error comes out as a result of a machine mistake during the production process.

1958 error Lincoln penny value*

Quality 1958 RB 1958 D RB 1958 R 1958 D R
MS 63 $0.55 to $0.67 $0.55 to $0.67 $0.8 to $1.01 $0.8 to $1.01
MS 64 $0.75 to $0.85 $0.75 to $0.85 $1.9 to $2.15 $1.9 to $2.15
MS 65 $4.05 to $4.86 $4.05 to $4.86 $10.8 to $13.5 $10.8 to $13.5
MS 66 $13.5 to $20.25 $13.5 to $20.25 $37.8 to $47.25 $37.8 to $47.25
MS 67 $61 to $74 $61 to $74 $455 to $523 $455 to $523

*by Greysheet

Remember that machine doubled coins were different from Doubled Die obverse error coins. The coin errors made by the machine were a result of a slight movement during the strike. The probable reason was a loose device part that led to an imprecise struck.

It was also possible to find error coins resulting from the dye overuse or inappropriate preparation result. For instance, Doubled Die obverse error occurred as a wrong dubbing result. Since only a few of these coins have survived until today, they are the desired choice for any collector.

 

1958 Lincoln Penny Value Grading

1958 Lincoln Penny Value Grading

Collectors inspect every possible detail when looking for an excellent specimen. That is also true for the 1958 Lincoln penny, so it is necessary to check three deciding things, like:

  • The date
  • The mint mark
  • The condition

When the coin is not rare, the condition will be the most decisive factor to set high-class coins apart from inexpensive ones. Remember that there are three main steps in coin inspection:

  • Always start with the date and the mint mark checking
  • The next step is to refine the coin condition
  • Finally, you should look for possible errors and characteristic details

Uncirculated – Almost every collector wants to collect the entire set in the mint state. Since the 1958 Lincoln pennies belong to the second production era, they are typically available in the desired flawless mint state.

The most significant thing in this grade is intact luster without wear traces on the coin surface.

1958 Lincoln penny value*

Quality 1958 1958 D
Good $0.05 $0.05
Very good $0.05 $0.05
Fine $0.06 $0.06
Very fine $0.07 $0.07
Extra fine $0.09 $0.09
Uncirculated $0.15 $0.15
Brilliant uncirculated $0.30 $0.30

*by Hobbizine

Extra fine – This grade shows that the coin has been in circulation for a tremendously short time.

You can notice the slight flattening of Lincoln’s portrait details, including slight wear on his face, hair, and coat edges. Lines on wheat stalks are still clearly visible on the penny reverse.

Fine –  Such a coin spent lots of time in circulation so that you can see numerous scratches and signs of wear over its surface. Although this penny is not heavily damaged and every lettering is visible, it is without desirable luster.

1958 Lincoln penny quarter value*

Quality 1958 1958 D
Good / $0.18 to $0.18
Very good / $0.18 to $0.18
Fine / $0.19 to $0.19
Very fine / $0.19 to $0.19
Extra fine / $0.20 to $0.21
AU / $0.21 to $0.22
MS 60 / $0.25 to $0.27
MS 61 / $0.27 to $0.29
MS 62 / $0.30 to $0.33
MS 63 $0.8 to $1.01 $0.4 to $0.5
MS 64 $1.9 to $2.15 $0.6 to $0.73
MS 65 $10.8 to $13.5 $2.15 to $2.45
MS 66 $27 to $33.75 $10.8 to $12.96
MS 67 $208 to $239 $47.25 to $61

*by Greysheet

Good – This grade is the worst possible for a collectible coin. This penny is heavily damaged, with lots of deep scratches and signs of wear all over the surface.

Plus, it is almost impossible to recognize crucial details since most have become flat over time. In the worst case, you can’t distinguish the date, the mint mark, and most letterings in inscriptions.

 

Summary

The 1958 Lincoln penny is easily accessible, so its value is not exceptionally high. The best option is to look for a penny in uncirculated condition since even the best specimens are inexpensive. However, you can expect this coin value to be higher in the future, making it an excellent investment.

15 thoughts on “How Much is a 1958 Wheat Penny Worth? (Price Chart)”

  1. I have a 1958 penny,,on inspection the L in LIBERTY has been stamped on the inside rim and hardley noticible unless you look at an angle then you can see it perfectly,the coin I feel is in fine condition and was wondering if you have come across any like this.
    Thank You.
    Patrick

    Reply
  2. I have a 1958 D. wheet Lincon penny: with the statue of liberty in the back of his head. Asking price $500.000 if you are that person. coming on down.

    Reply
    • I have the 1958 double die the one that they say only 3 known exist its in pretty good condition it has some major doubling on the words in God we trust an on the word liberty trying to sell it if interested let me know

      Reply
  3. 1958 P wheat penny with the mint mark p on it is that different because I have not heard anything about those being out there thank you

    Reply

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