1938 Proof Lincoln Wheat Cent
Strike Type
Coin Details
Value Estimates
Values as of May 2026 — estimates reflect typical grades (G-4 through MS-63). Coins in lower or exceptional grades may fall outside this range.
Auction Record
$1,323 PR 11-21-2002 Heritage Auctions
Description
The 1938 Proof Lincoln Wheat Cent is a proof cent struck at the Philadelphia Mint, part of the Lincoln Wheat Cents 1909-1958 series. With a mintage of 14,734, this is an extremely rare issue — the lowest mintage among 4 mint variants, representing only less than 1% of total production. The obverse features Abraham Lincoln facing right, the first real person depicted on a U.S. circulating coin and the reverse displays two wheat stalks framing ONE CENT, symbolizing American agriculture. Struck during the Great Depression, when mintages dropped sharply and the United States abandoned the gold standard in 1933. As a proof issue, this coin was struck multiple times on specially prepared polished planchets using polished dies, producing mirror-like fields and frosted design elements prized by collectors. Struck at the original U.S. Mint facility, in continuous operation since 1792. Estimated market value is approximately $73. Struck in 95% copper, 5% tin and zinc, weighing 3.11 grams, 19 mm in diameter, with a plain edge. Cataloged as PCGS #3339.
