Expert: PAPAJACK - 4/25/2007

Question
I have inherited a jar of what we called wheaties when I was a kid.  I am starting
to sort them and am wndering about value.  I have found  an apparently steel
penny (1943, no mint) and 1903 indian head in fair condition.  anyy direction
would be appreciated.

Answer
Hello Lynn,            

First divide them into groups sorted by Date and Mint where they were made. Never, Never clean or treat the coins.
For storage of the collection ... If circulated the Whitman Folder or Album will be fine (I see many used at the shows for about a dollar for the folder) They run from beginning to end of each series of coin by date and Mint Mark. Right away the empty spaces let you know what is needed and what you have.
If your coins are Uncirculated Mint State I think a 2x2 cardboard with Mylar plastic will be economical for you. Both are available at all coin shops.

If you have doubles of a coin Decide which is the better specimen. I do suggest  you get a copy of  A Guide Book of UNITED STATES COINS (Red Book) by  YEOMAN. Even an out of date copy is ok. This will guide you through the critical information you need to begin a US Coin collection.
Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale. So remember a grade of Good is 4 out of a possible 70 is a low grade.

Lincoln Head Cents 1909 to 1933:  
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.
A cent from these years in a lower grade (4 to 30) will sell for less than .50 cents each. Their value is all in their state of preservation. (as little as .15 cents each). If they show full details on the Jaw , Bow Tie and Wheat Heads they are much more collectable and sell from $3 to $7 dollars in grades from 30 to 55.

A Philadelphia issue 1909 cent in circulated condition sells from $1.00 to $3.00 dollars. A 1940 Philadelphia issue coin can sell from .10 to 50 in circulated grades. For pre 1940 Lincoln Cents there are only a few valuable circulated condition coins to look for.
1909-S, 1910-S,  1911-D, 1911-S, 1914-D, 1914-S, 1915-S, 1921-S  and 1922-D OR 1922 no D, 1924-D, 1926-S, 1931-D, 1931-S.  THESE ARE ALL KEY OR SEMI-KEY DATES FOR Lincoln cents. There are some others as well.

The 1943 Lincoln Cents are 'ZINC COATED STEEL' released only in 1943. And there is some value on them. Owing to a shortage of copper during the War, the Treasury Department used steel for the Cent. No bronze coins were officially made that year, although some exist, and through a similar error some steel cents from 1944 do exist.
All three Mints at the time made the coins.
Philadelphia produced 684,628,670 of them.
Denver Mint produced 217,660,000 of them.
San Francisco produced 191,550,000 of them.
It is very likely there are rolls of them left. I don't see too many in circulation any more. A lot of them rot away if exposed to the elements.
Their value ranges from .20 cents for lower grade specimens to about $3.00 in brilliant Uncirculated condition to collectors.

The Indian Head Cent 1903 date you have is considered a common one. In the circulated grades from  Good (grade 4), to Extremely Fine (grade-45), the value ranges from $1.00 to $8.00.

Hope I answered all your questions. Feel free to ask me others about US Coins.

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Thank You and Good Luck

PapaJack