Expert: PAPAJACK - 7/10/2007

Question
I have found a 1918 wheat penny in good shape.  Is this worth anything?

Answer
Hello,                  

No one can give you an exact value without seeing a coin but I can give you a range of values for a 1918 US Cent in the lower grades.

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 and ear wear first. Also is there 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.

All of these are 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. So remember a grade of Good or 4 out of a possible 70 is kind of a low grade.

I can only give you approximate prices for an unseen cent.

Good (Grade 4) = .15 Cents for the Philadelphia mint cent -.50 Cents for the Denver mint cent - .20 cents for the San Francisco mint

Very Good (Grade-8) = .15 Cents for the Philadelphia mint cent - .90 Cents for the Denver mint cent - .40 cents for the San Francisco mint

Fine (grade-12) = .20 Cents for the Philadelphia mint cent - $1.50 for the Denver mint cent - .80 cents for the San Francisco mint

Extremely Fine (grade-40) = $3 Dollars for the Philadelphia mint cent - $9.50 for the Denver mint cent - $6.00 for the San Francisco mint

Almost Uncirculated (Grade-50) = $7.00 for the Philadelphia mint cent - $19.50 for the Denver mint cent - $25.00 for the San Francisco mint coin.

As you see the S mint coins are worth more only in high grade with the Denver mint worth the most in circulated grade.

These values are estimates depending on condition, type and mint mark yours may be more or less valuable

I hope this information helps. Please remember to rate this answer. And check the nomination box on the rating page below any comments you may have.

Good Luck

PapaJack