How Much is 1953 D Wheat Penny Worth?

The 1953 D Wheat Penny also known as Wheat Penny, Lincoln Cent, or Lincoln Penny is one of the most popular coins among collectors. The 1953 D Wheat Penny is an American one-cent coin with more than 70 million minted quantities. 
The 1953 D Wheat Penny, in average condition, is worth $0.05. Meanwhile, it can also be worth up to $1.11 if in MS 63 condition. 

If you have this wheat penny, you may want to know its value. Keep reading to learn more about the 1953 D Wheat Penny and determine whether it is worth collecting.

What is the History Behind the 1953 D Wheat Penny?

The 1953 D Wheat Penny is more challenging to find in its highest mint state grade. However, you can find plenty of circulated and uncirculated grades. 

Since it has a large mintage, over 700 million, most of the coins were circulated after their release. Unfortunately, this means higher grades are harder to find.

Sculptor Augustus Saint-Gaudens initially designed the Lincoln cent. However, it was only minted between 1859 and 1909 after the US Mint started to place Lincoln Memorial on the obverse side.

There are different types of wheat pennies. The only difference is the mint whether they came from. In 1953, three minting companies produced this penny, and the Denver minted (D Wheat Penny) it with a D mint mark. This wheat penny type was minted from 1953 to 1958. 

Since 1909, the 1953 D Wheat Penny remains the first-ever coin to feature Abraham Lincoln’s portrait. Sculptor Victor David Brenner redesigned the penny so that portrait was centered on the coin.

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In 1978, the Lincoln Cent was redesigned once again, and the reverse design was restruck in 1982. Today, this penny is one of the world’s most collected and most popular coins.

By 1953, the US Mint has established itself as the coin production technology leader. The 1953 D Wheat Penny’s introduction marked the beginning of coin technology’s new era, following the introduction of Mint Sets, special performance coins.

The 1953 D Wheat penny was a special coin made from 5% zinc or tin and 95% copper. These coins were minted in six varieties, including Proof, Mint, Special Mint Set coins, etc.

What Does 1953 D Wheat Penny Look Like?

Today, the 1953 D Wheat Penny is in 9th place for the number of minted coins in the entire series.

On the obverse side, the 1953 D Wheat Penny features Abraham Lincoln’s portrait facing right with the date to the right and the word “LIBERTY” to the left. Above the portrait, you will find the “IN GOD WE TRUST” phrase.

On the backside, there is the “ONE CENT” phrase above the “UNITED STATES OF AMERICA” phrase with an ear of wheat on both sides. If you take a look at the upper side, you will find the “E PLURIBUS UNUM” Latin phrase on it.

What is the Value of a 1953 D Wheat Penny?

In an excellent condition, each 1953 D Wheat coin is worth around $0.11. The value is approximately $0.16 in extra fine condition.

If the coin is in its uncirculated condition, the price range is up to $0.55 with an MS 60 grade. As with the circulated coins, the worth is around $0.22. Proof coins without the mark are valued each at $30 in PR 65 condition. 

To give you a bigger picture, check out the following:

ConditionValue
(G-4) Good
(F-12) Fine$0.05
(VF-20) Very Fine$0.11
(EF-40) Extremely Fine$0.16
(AU-50) About Uncirculated$0.22
Uncirculated$0.15
(MS-60) Uncirculated$0.55
(MS-63) Uncirculated$1.11
PR-63 Proof $74

Most experienced collectors prefer coins with extra fine or above grade. A high wheat penny arrangement level always includes the 1953 D Wheat Penny with a brilliant luster.

If the coins are a bit worn, they usually belong to the lower grade. Aside from the lost sharpness, you will also notice stains and scratches over their surfaces.

What is the Grading System Used in 1953 D Wheat Penny Value?

The 1953 Lincoln pennies’ actual value significantly depends on their condition. In many cases, experienced coin collectors start with determining the shape and production year before the coin’s grading. Due to their experience, they can quickly determine whether the coins’ have minor differences in their visual appearance.

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Below are some of the gradings that help determine the 1953 D Wheat Penny:

  • Fine 

A 1953 D Lincoln penny in fine condition has spent more time in circulation. Unfortunately, this means it has many scratches and wears signs on the surface.

While there are no significant damages, you will still see faded color. Plus, you will notice smoothing of the details. So even if the coins have slight imperfections, they are still well-preserved.

  • Very Fine 

In this coin condition, their cheekbone and jawbone of Lincoln are worn. However, they are still separated. Also, the wheat head should not have wear signs.

  • Extra Fine 

A coin in an extra-fine condition has slight wear signs. You will see that all details are sharp. If you notice that the details and highest points have begun to fade, it is safe to say that the coin is not in an uncirculated condition.

  • Uncirculated 

A coin with an uncirculated grade shows no sign of wear or scratches on its surface. It still has the luster that covers the entire coin and is untouched. All specific details are not changed from the date of forging to these days.

  • MS 63RB Choice Uncirculated

In the coin’s major focal area, contact marks or blemishes with MS 65RB choice uncirculated grade will be noticed. In addition, the red-brown color is noticeable, but the luster is less prominent.

  • MS 65RB Gem Uncirculated 

At the very first look, there is a strong eye appeal and luster. The coin may have a few light contact marks but is less noticeable. The red-brown color is also easy to notice.

  • PR 65 Proof 

A 1953 D Wheat Penny with PR 65 Proof grade shows no flows. Also, few blemishes are present.

What are the Factors Affecting the 1953 D Wheat Penny Value?

The 1953 D Wheat Pennies are critical to every collector’s set. These coins have a considerable demand for both beginners and advanced collectors despite each group looking for different qualities and features.

Novice and amateur coin collectors are often satisfied with lower-quality pennies, while experienced and advanced coin collectors always search for the highest graded ones.

If you are new to 1953 D Wheat coins, here are the factors you should consider during your search:

  • Condition

1953 D Lincoln Wheat cents that have been through many circulations or in circulation for years show wear and tear. This wear is noticeable as deformations, scratches, deterioration, and corrosion. Since they are round in shape, wear is usually seen around the coin edges.

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One of the best ways to determine whether the coins are original or revalued is by inspecting the surface for evidence of wear. You can do that with different methods like eye observation.

  • Double Die/Rare Error 

The 1953-D Penny was the first-ever coin minted with copper steel, introducing nickel-plated copper. As a result, many people considered this coin to be in only coin to be more valuable than silver in the US.

However, Denver Mint announced that there had been an error in the pennies. This error has affected approximately 3.4 million of the 10.15 million struck. The error was referred to as mid-strike and caused by the coining equipment, leading to several coins being struck twice. As a result, two reversed obverse dies were used.

  • Supply and Demand 

Like other precious metals or products on the markets, coins are also affected by supply and demand. And the 1953 D Wheat Penny value has no exemption. 

You can determine the coin’s value by its supply and demand. Since plenty of people want to collect old coins like the 1953 Wheat penny, expect that their value is at a premium.

  • Mint Mark 

The mint mark is one of the critical aspects in determining the 1953 D Wheat cent’s value. Therefore, it is beneficial for most collectors to identify the coin’s mint, year, and critical detail.

Since a mint mark is often obvious, collectors who closely examine the coin consider it. Remember that there are different 1953 Lincoln Wheat Cent varieties, so ensure the coin has the mint mark D.

Is 1953 D Wheat Penny Rare?

The high mintage of 1953 D Wheat coins makes it very common. So, these coins are not rare collectibles. But, on the other hand, their price can be higher primarily due to color.

While they are not rare coins, you may find them challenging to find. That is especially true if they are in the highest grade.

Conclusion 

The 1953-D Wheat Penny value is around $0.05 and higher, depending on several factors like condition, mint mark, supply and demand, and rare error. The coin may not be rare, but it is still hard to find, especially if it is in excellent condition.

Hopefully, this guide has helped you with your coin search. We wish you good luck with your coin collection.

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