The total penny mintage was significantly lower at the beginning of the Great Depression than in previous years. However, that fact only slightly affected the 1929 wheat penny value, and most of these coins are still affordable for most collectors.

Three mints issued regular cents with a Lincoln bust on the obverse but without proofs. Much to the delight of numismatists who prefer error coins, there are a few beautiful, imperfect pieces with this date that are worth collecting. Let’s take a look.

1929 Wheat penny Value Chart
Condition	1929 penny	1929 D penny	1929 S penny
Good	$0.28	$0.57	$0.57
Very good	$0.34	$0.98	$1.04
Fine	$0.40	$1.46	$1.99
Very fine	$0.87	$2.61	$2.72
Extra fine	$3.38	$8.07	$8.07
AU	$5.84	$17	$17
MS 60	$9.35	$35	$28
MS 63	$16	$57	$35

(Coin Value Checker)

History of the 1929 Wheat Penny

The first pennies appearing in 1909 were revolutionary coins because Abraham Lincoln’s face was minted on the obverse. By that moment, it was unthinkable for American coins to depict the image of a real person on the obverse.

Such a monarchical custom conflicted with the basic postulates of the new state, but the 16th President was so beloved and popular that resistance to the new custom was surprisingly low. Besides, it was a way to commemorate his 100th birth anniversary, so most citizens impatiently waited for the new cent.

During the next twenty years, the US Mint significantly increased the number of produced coins, but their number became lower during the Great Depression. The primary difference is the minting year and VDB initials. They were quickly removed in 1909 as inappropriately sizable and returned in 1918.

1929 Wheat Penny Value Guides 

The total penny mintage in 1929 was 277,140,000 pieces. All these coins were from regular strikes because the US Mint didn’t produce proofs from 1916 to 1936. You can recognize three toning typical for cents, from the least appreciated brown to the most collectible red.

1929 P Wheat Penny value

With 185,262,000 produced cents, the mint in Philadelphia issued roughly two-thirds of the total mintage achieved in 1929. Thanks to that, you can still find many of these coins available. Their price depends on two factors, including their color and condition.

The 1929 brown pennies are available at $0.10 to $5.40 when in circulated condition, while you can buy one in the mint state for approximately $5 to $24.

Red-brown pieces are approximately twice as expensive, with a price range from $9 (MS 63) to $90 (MS 66). The most appreciated red pennies minted this year cost at least $30, but you should set aside $220 to $260 for those ranked MS 66.

The 1929 pennies in MS 67 grade are rare, and their estimated value is $1,050 to $1,600. However, the most expensive cent minted in this mint was the one in MS 67+ grade, sold at $5,581 in 2014.

1929 D Wheat Penny value

The Denver issued the lowest number of pennies in 1929, only 41,730,000 coins. Even though brown pieces are still collectible, they are the least desirable among collectors. Therefore, you can buy one circulated penny for $0.25 to $18. Depending on grade, those in the mint state cost $19 to $150.

Red-brown cents have a price range from $40 to $500, while red ones are the priciest. Coins in MS 63 grade are worth $70 to $84, while those rated MS 64 are available at $140 to $168. Finally, you should set aside $440 to $530 for those with an MS 65 ranking.

Dedicated collectors often look for pennies graded MS 66. Their prices are approximately $2,600 to $3,600, while the most expensive is the 1929 D MS 66+ red coin, sold at $7,800 in 2021.

1929 S Wheat Penny value

The San Francisco mint issued 50,148,000 pieces in 1929, and you can still find some brown cents in circulation. Their average price is $0.25 to $15.69, while those from MS 60 to MS 65 grade cost $15 to $72.

Red-brown coins are a bit more expensive, with an average price range from $20 to $360. Only those ranked MS 67 are worth more, approximately $1,200 to $1,600. The most collectible are red pennies. The most affordable are those in MS 64 and MS 65 grades, and you can buy one for $120 to $430.

Pieces ranked MS 66 are more expensive ($1,600 to $2,400), while it is necessary to set aside $4,200 to $6,000 for red cents in MS 67 grade. Interestingly, the most valuable is one graded MS 66+ because one collector paid $18,600 for it in 2022.

Want to find deeper of this coin? You can go Coin Value Lookup valuation website, it makes coin collecting more accessible by providing detailed information on coin types, mintage years, rarity, condition grades and up-to-date market values. 

Features of the 1929 Wheat Penny

The 1929 Wheat cents look the same as all pennies minted from 1909 to 1959. Their primary advantage is that they appeared on the eve of the Great Depression, making them historically attractive and collectible.

Obverse

These coins depict Lincoln’s image in the center and the required letterings, including the date, LIBERTY, and IN GOD WE TRUST.

Reverse

The 1929 cent reverse includes recognizable wheat stalks on both sides, stretching along the coin edge. Inside the circle they create are the denomination and the full US name, while the Latin motto is struck along the top coin rim.

Other features

The 1929 pennies are copper coins that are 1.52 millimeters thick, which equals 0.0598 inches. Their diameter is 19.05 millimeters or 1.75 inches, while every piece weighs 0.10970 ounces or 3.11 grams, based on the metric scale.

1928 Wheat Penny Errors

You can find numerous error pennies with the minting year 1929 on the obverse. Nowadays, some collectors look only for pieces with flaws because regular cents are too common.

Re-punched mint mark

This error is the most attractive in the 1929 penny set. It appeared when the mint worker struck the letter S twice because the first attempt was imperfect. When their preservation level is questionable, you can buy one of these coins for $45 to $90.

Expectedly, specimens in the mint state are more expensive. Their prices are over a hundred dollars but primarily depend on their color. For instance, the costliest brown RPM cent was sold at $295 in 2019, while the red one reached $3,565 at the 2010 auction.

Other 1929 error pennies

Besides the most collectible 1929 RPM error pennies, many other imperfect cents minted this year are collectible and worth more than regular coins.

• Pennies with a lamination mint error cost $5 to $45
• Coins with a broad strike error can bring you over $200
• Pennies with 10% or 20% off-center are worth at least $50, while those with 50% off-center cost several hundreds of dollars
• Doubled die pennies from Philadelphia cost $10 to $50, those from San Francisco are worth $25 to $75, while such pieces minted in Denver can bring you $50 to $100
• You can recognize about 1,500 types of BIE die break errors among pennies, and each is worth $5 to $15

You can also earn a few additional bucks if you find 1929 pennies with errors like strike-through, clipped planchet, or die crack.

1928 Wheat Penny Grading

Dedicated Lincoln penny collectors always look for red coins that are in perfect condition. There is no need to buy an unattractive piece when beautiful ones are affordable. The best option is to grade each piece yourself or ask for professional help, depending on its quality and potential value.

What makes a 1928 Wheat Penny rare?

Pennies minted in 1929 are not particularly rare because the US Mint produced millions of pieces that year. However, perfectly preserved specimens are hard to find because most were released into circulation and used for years. That makes pieces in excellent condition rare and valuable.

Which 1928 Wheat Penny are worth a lot of money?

• 1929 S MS66+ red cent sold at $18,600 (2022)
• 1929 D MS66+ red cent sold at $7,800 (2021)
• 1929 MS67+ red cent sold at $5,581 (2014)
• 1929 S/S MS65 red cent (RPM) sold at $3,565 (2010)
• 1929 D MS64 red-brown cent sold at $2,300 (2022)
• 1929 S MS66 red-brown cent sold at $662 (2021)
• 1929 D MS65 brown cent sold at $370 (2021)
• 1929 MS65 brown cent sold at $336 (2022)
• 1929 S/S MS64 brown cent (RPM) sold at $295 (2019)
• 1929 S MS64 brown cent sold at $286 (2020)
• 1929 S AU55 brown cent (RPM) sold at $264 (2014)
• 1929 MS66 red-brown cent sold at $213 (2018)

How much is the 1928 No Mint Mark Wheat Penny worth?

The most affordable 1929 brown pennies are brown pieces available at $0.10 to $24, while red-brown ones are worth approximately $9 to $90. The most collectible red pennies come in a wide price range. The cheapest are available at $30, but you should pay $220 to $1,600 for the best-preserved specimens.

What is the most valuable Wheat penny?

The most expensive Wheat Penny ever sold is the 1943 D bronze brown coin in MS 64 grade, which was sold in 2021 for $840,000. The second place was reserved for the 1944 S MS 66 steel cent sold at $408,000, while the most valuable proof was the 1909 VDB PR 67+ coin. Its price in 2014 was $258,500.