Expert: PAPAJACK - 12/8/2006

Question
Awhile back I fond A 1920 wheat back penny in very good condition.I was wondering how rare it might be and its potential value?

Answer
Hello Brandon,

No one can give you an exact value without seeing a coin but I can give you a range of values for a 1920 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, 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.
Here is the range of retail prices for a 1920 Philadelphia mint cent..

Good (Grade 4) = $.15 -  

Very Good (Grade-8) = $.20 -

Fine (grade-12) = $.45  -

Very (grade-20) = $1.00  -

Extremely Fine (grade-40) = $1.80

Almost Uncirculated (Grade-50) = $5.00

The D and S mint coins are worth more in grades above 12.

These values are estimates for the one mint 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