Expert: PAPAJACK - 12/17/2006

Question
I HAVE A 1918 PENNY IS IT WORTH MUCH MORE THAN A PENNY?

Answer
Hello Conchita,  

Coins are valued on a scale from 1 to 70. And on how rare a coin is. With no or little experience it is sometimes easier letting a collector look at them, and even most coin shops will help for free on one or two pieces.
 
In each series of coin type like yours there are some quick reference points of wear to be seen on the high points that are known to show wear first. For grading the Cent Lincolns bow tie, jaw and ear wear first. Also look for any mint mark on the coin?
Wheat cents were minted from 1909 to 1958, at the Philadelphia, Denver, and San Francisco Mints. If you see a "D" below the date, the coin was minted in Denver. If you see an "S" below the date, the coin was minted in San Francisco. If there is no letter below the date the coin was minted in Philadelphia.
Most of this information is covered in the RED BOOK. If you can borrow a copy it will help. The grading details it describes at the start of each coin series is taken from the American Numismatic Association Standard. And uses the 1 to 70 scale recognized by all professionals since the 1970's.

Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale.
Philadelphia .20 in grade-4 (good) to $4.00 in Grade-50 (Almost Uncirculated)
Denver .80 in grade-4 (good) to $12 in Grade-50 (Almost Uncirculated)
San Francisco .30 in grade-4 (good)  to 8.50 in Grade-50 (Almost Uncirculated)

Please remember to rate this answer at the bottom of this page. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck

PapaJack