1958 Wheat Penny Value Guide

The 1958 Wheat Penny Value

The 1958 wheat penny’s value is similar to many other pennies. Specifically, the penny’s value remains low to somewhat low until it gets into the mid-to-high mint-state grades. The red-brown and red versions of the coin also add more value, especially the latter.

An N/A for a value below indicates no publicly known examples of that version of the 1958 wheat penny with that grade, or no value information (or not enough) exists for it yet.

Additionally, all values are conservative estimates based on research. Please note all values are subject to change due to the market or circumstances unaccounted for during research and publication. We always recommend doing further research or consulting with a professional.

Melt Value

The 1958 wheat penny’s melt value is approximately negligible. The melt value will fluctuate with the market.

Circulation Strike Value Chart – Brown Coins (BN)

	Coin Names And Coin Values
Grade Names	1958 Brown Wheat Penny	1958-D Brown Wheat Penny
Good – G BN	$0.05	$0.05
Very Good – VG BN	$0.05	$0.05
Fine – F BN	$0.05	$0.05
Very Fine – VF BN	$0.05	$0.05
Extra Fine – XF BN	$0.05	$0.05
About Uncirculated – AU BN	$0.10-$0.20	$0.10-$0.20
Mint State – MS BN	$0.37-$18 (66)	$0.37-$16 (66)

Circulation Strike Value Chart – Red-Brown Coins (RB)

	Coin Names And Coin Values
Grade Names	1958 Red-Brown Wheat Penny	1958-D Red-Brown Wheat Penny
MS 60 RB	N/A	N/A
MS 61 RB	N/A	N/A
MS 62 RB	N/A	N/A
MS 63 RB	$2	$2
MS 64 RB	$3	$3
MS 65 RB	$7	$6
MS 66 RB	$18	$17
MS 67 RB	N/A	N/A
MS 68 RB	N/A	N/A
MS 69 RB	N/A	N/A
MS 70 RB	N/A	N/A

Circulation Strike Value Chart – Red Coins (RD)

	Coin Names And Coin Values
Grade Names	1958 Red Wheat Penny	1958-D Red Wheat Penny
MS 60 RD	$2	$2
MS 61 RD	$3	$3
MS 62 RD	$5	$5
MS 63 RD	$6	$6
MS 64 RD	$10	$10
MS 65 RD	$17	$17
MS 66 RD	$37	$24
MS 67 RD	$522	$280
MS 68 RD	N/A	N/A
MS 69 RD	N/A	N/A
MS 70 RD	N/A	N/A

Proof Strike (PR) Value Chart – Red Coins (RD)

1958 Red Proof Wheat Penny
Grade Names	Coin Values
PR 60 RD	N/A
PR 61 RD	N/A
PR 62 RD	N/A
PR 63 RD	N/A
PR 64 RD	$13
PR 65 RD	$19
PR 66 RD	$27
PR 67 RD	$43
PR 68 RD	$87
PR 69 RD	$500
PR 70 RD	N/A

Cameo (CA/CAM) Proof Strike (PR) Value Chart – Red Coins (RD)

1958 Red Cameo Proof Wheat Penny
Grade Names	Coin Values
PR 60 CA/CAM RD	N/A
PR 61 CA/CAM RD	N/A
PR 62 CA/CAM RD	N/A
PR 63 CA/CAM RD	N/A
PR 64 CA/CAM RD	$20
PR 65 CA/CAM RD	$30
PR 66 CA/CAM RD	$57
PR 67 CA/CAM RD	$120
PR 68 CA/CAM RD	$587
PR 69 CA/CAM RD	$1,000
PR 70 CA/CAM RD	N/A

Ultra/Deep Cameo (UC/DCAM) Proof Strike (PR) Value Chart – Red Coins (RD)

1958 Red Ultra/Deep Cameo Proof Wheat Penny
Grade Names	Coin Values
PR 60 UC/DCAM RD	N/A
PR 61 UC/DCAM RD	N/A
PR 62 UC/DCAM RD	N/A
PR 63 UC/DCAM RD	N/A
PR 64 UC/DCAM RD	N/A
PR 65 UC/DCAM RD	N/A
PR 66 UC/DCAM RD	$482
PR 67 UC/DCAM RD	$975
PR 68 UC/DCAM RD	$4,800
PR 69 UC/DCAM RD	$29,000
PR 70 UC/DCAM RD	N/A

What Makes A 1958 Wheat Penny Valuable?

Grading, the rarity of some versions, mint marks, strike types, special designations, error coins, and die varieties contribute to a 1958 wheat penny’s value.

Let’s start with grading.

Grading

Grading plays a part in a 1958 wheat penny’s value, but only in the higher grades. Specifically, you’ll need to get into the mid-to-high mint-state grades to see some value for your penny.

Rarity

The Mint minted 1958 wheat penny approximately 1,054,352,952 times across all of its versions. Please see the following list for the breakdown for each version:

• 1958: 252,525,000 minted in Philadelphia^4,11
• 1958-D: 800,952,300 minted in Denver^5,6
• 1958 Proof: 875,652 minted in Philadelphia^8,12

The 1958 wheat penny’s mintage of over 1 billion does not make it rare or contribute to its value. However, proof coins with a mintage of less than 1 million are rarer and, therefore, more valuable.

Mint Marks

1958 wheat pennies came from 2 locations: Philadelphia and Denver.^1,4-6

For the most part, those 2 versions of the coin are identical in value. When separation does occur, Philadelphia is worth more.

Strike Types

The 1958 wheat penny has 2 strike types: circulation and proof.^15-16

Circulation strikes do not add to this penny’s value. 

However, proof strikes do. This includes regular, cameo, and ultra/deep cameo proof strikes. Proof strikes even get into the thousands and tens of thousands of dollars, while circulation strikes only get into the hundreds.

Design Variations

This coin has no design variations.

Special Designations

1958 wheat pennies have 3 special designations: brown, red-brown, and red.^1-12 This is true for circulation and proof strikes. 

Of those 3 special designations, red is the most valuable, then red-brown, and, finally, brown.

Error Coins

Generally, errors add value to coins. Not always, but they usually do. 

For 1958 wheat pennies, this is particularly true with wrong cent planchet errors.¹³ These errors occur when the Mint strikes a coin’s design on a planchet intended for a different coin. For example, it could strike a penny design on a dime or nickel.

The 1958 wheat penny has many of these errors, ranging from hundreds of dollars in value to thousands.

Other errors include cud die break errors and struck-through errors.¹³ The former adds up to hundreds of dollars in value to the coin, while the latter adds tens of dollars in value.

Die Varieties

Several die varieties exist for the 1958 wheat penny, including the following:^17-20

• 1958-D/D (repunched variety)
• 1958-D/D/D (double repunched variety)
• 1958 DDO (doubled-die obverse variety)

Of those three varieties, the DDO version is far and away the most valuable. This is especially true if your 1958 wheat penny has the red special designation. In specific, that version of the penny is worth hundreds of thousands of dollars.

The other two, while interesting, add little to no value to the 1958 wheat penny.

Composition

With a copper-nickel composition, the 1958 wheat penny’s melt value is negligible.

However, even if it had a significant melt value, we would recommend against melting it down. Coins are worth more intact than sold for melting.

How Do You Know If You Have A Valuable 1958 Wheat Penny?

The best way to know if you have a valuable coin and to get that value out of it is to have it professionally certified.

However, you can look for many elements to get you started in determining what coin you have.

Let’s start with grading.

Grading

Grading comes down to several factors. Generally, your coin should have a nice luster, few imperfections, and little to no signs of wear (with the latter being essential for mint-state and proof coins). 

Some of these factors require magnification, especially at the higher grades, so a professional will have to assist with an official grading certification.

Mint Marks

Look beneath the year on the obverse side of your 1958 wheat penny. 

No letter means the coin came from Philadelphia. 

A small “D” means the coin came from Denver.

Strike Types

Circulation coins generally show more significant signs of wear, imperfections, poorer strike quality, and less luster than proof coins. This isn’t always the case, but it’s usually true. 

Proof coins should never show any elements leading to a grade below 60. If they do, they’re called impaired proofs. Proof coins should also have much better detail than circulation coins.

Design Variations

This penny has no design variations.

Special Designations

Determining the color designation your 1958 wheat penny qualifies for is somewhat difficult. However, we’ll give you some tips to get you started.

All coins start with the red special designation. They look bright and shiny. Keeping this red color means not exposing the coins to use or the air. The more this happens, the more the color shifts to red-brown and then to brown. 

To qualify for the red special designation, a penny must have almost all or all of that original color remaining. Red-brown requires most or some of it to remain, and brown requires little to none. 

Ultimately, an official designation requires a professional, but knowing the above can give you a good head start.

Error Coins

You can determine wrong cent planchet errors relatively easily. Look at your coin’s design to make certain what specific coin it should belong to. The year is a good indicator. 

Next, examine the coin’s color and size. If either is not in line with a typical 1958 wheat penny, you may very well have a wrong cent planchet error coin.

Determining cud die break error coins is also relatively easy. In their case, you’re looking for a significant blob of plain metal extending from the coin’s rim. This is the cud, which results from a die break.¹⁴

Die Varieties

The 1958-D/D (repunched) variety shows faint signs of an initial “D” mint mark.

The 1958-D/D/D (double repunched) variety is similar, except it will have faint signs of two prior “D” mint marks.

The 1958 DDO (doubled-die obverse) variety shows easily visible doubling on “Liberty,” “In God We Trust,” and “1958”. This doubling will only be on the obverse side, hence the name. The doubling will present as two sets of those items. In other words, as an example, you’ll see two sets of the word “Liberty” layered on top of one another.

Additional Information About The 1958 Wheat Penny

History

The 1958 wheat penny was the last in the Lincoln cent (wheat reverse) line. The obverse design remained during the transition to the 1959 Lincoln cent, but the Mint changed the reverse to the Memorial reverse. By then, the Lincoln cent was 50 years old, which coincided with President Abraham Lincoln’s 150th birthday.

The 1958 wheat penny’s mintage also suffered some from the recession at the time. 

^Sources:1,16

The Coin’s Obverse Side

President Abraham Lincoln’s right-facing profile dominates the center and bottom of the 1958 wheat penny’s obverse side. 

“1958” rests between his chest and the coin’s rim. If the coin came from Denver, a small “D” will be underneath the year. 

“Liberty” sits between the back of his neck and the rim.

The words “In God We Trust” curve above his head and along the rim.

^{Sources:1,4-6}

The Coin’s Reverse Side

The reverse side of the 1958 wheat penny features the words “One Cent” and “United States Of America” in the coin’s center. Two wheat stalks surround them on either side, curving with the coin’s rim. 

Above them and also curving with the coin’s rim are the words “E Pluribus Unum,” separated by little dots. They mean “Out of many, one,” the United States motto.

^{Sources: 1}

Sources

1958 Wheat Penny Value Guide Sources