Expert: PAPAJACK - 7/10/2007

Question
I have a wheat penny from 1955.  It is in very fine or extremely fine condition,was minted in Philadelphia, and has no imperfections.  I was wondering how mcuh it is worth.
  Thanks,
  Jonathan

Answer
Hello Jonathan,                

US Lincoln Cents are collectable. Most of these modern cents sell for less than a dollar in circulated grades. And since the dates after 1944 are still so plentiful to collectors in Mint State grades circulated coins are less than twenty cents each.

Collectors have devised a numerical grading system for coins. It goes from 1 to 70. With Grade-1 being barely identifiable as a coin and 70 being absolutely perfect. Coins taken from circulation usually fall between grade 8-VG (very Good) and grade 50 (AU Almost Uncirculated).

For grading the Cent look at Lincoln’s bow tie and ear, they wear first.

A rough price is dependent on the grade and any damage to the coins (like having been cleaned, nicked, dented scratched etc.).

A post 1940 issue date coin can retail to collectors from .10 to .50 cents in circulated grades. But a dealer will pay less. Virtually all circulated cents made after 1945 will sell for 3 cents each in bulk.

1955 cents get .15 to $1.50 to a collector depending on grade and eye appeal.

There is a double die error in 1955 that sells for much more. You would easily notice doubling it in the date on the coin.

Do not try to clean the coins in any way. See if you can borrow or use at your library a copy of the book titled "A Guide Book of U. S. Coins" by R.S. Yeoman, has pictures and bundles of information on all USA coins.

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Thank You and Good Luck

PapaJack