That 1950 penny sitting in your change jar might be worth more than one cent. While most circulated 1950 Wheat Pennies trade for just five cents, certain mint marks, high-grade specimens, and error varieties can command $10 or significantly more. The key is knowing exactly what to look for—from mint marks to doubled dies—before you decide whether to spend it or preserve it.

Understanding the 1950 Wheat Penny Series

The 1950 Lincoln Wheat Penny marked the final years of the iconic wheat-ears reverse design that had graced American pennies since 1909. The United States Mint produced these coins at three facilities: Philadelphia (no mint mark), Denver (D mint mark), and San Francisco (S mint mark). Each location struck millions of pennies, but production numbers varied significantly.

Philadelphia produced 272,635,000 pennies without mint marks, making them the most common. Denver struck 334,950,000 coins marked with a “D” on the reverse below the date. San Francisco, in its final year of regular penny production, minted just 118,505,000 coins with an “S” mint mark—the lowest production of the three facilities.

The mint mark appears on the obverse (front) of the coin, directly below the date. This small letter makes a substantial difference in value, especially for coins in pristine condition. You’ll need good lighting and possibly a magnifying glass to identify the mark clearly on heavily circulated specimens.

What Each Mint Mark Is Worth Today

The value gap between mint marks widens dramatically as condition improves. Here’s what collectors are currently paying based on official grading standards:

1950 Philadelphia (No Mint Mark) Values:

1950-D Denver Mint Values:

1950-S San Francisco Mint Values:

The 1950-S commands the highest premiums in uncirculated grades because fewer people saved rolls of pennies from the San Francisco Mint that year. Heritage Auctions sold an MS-67+ Red 1950-S for $288 in January 2023, while a comparable 1950-D in the same grade brought $120.

Circulated examples of all three varieties remain common. Unless you’ve found a coin with sharp details and no wear on Lincoln’s cheekbone or the wheat stalks, you’re looking at face value to perhaps twenty-five cents for spending money.

Known Errors and Varieties Worth Hunting

Unlike some years that produced famous doubled dies or major mint errors, the 1950 series doesn’t have widely recognized blockbuster errors. However, that doesn’t mean valuable varieties don’t exist—they simply haven’t achieved widespread fame among collectors yet.

Repunched Mint Marks (RPM): The Denver and San Francisco facilities occasionally struck coins with doubled or repunched mint marks, where the initial marking was placed incorrectly and then restruck. A clear 1950-D RPM variety showing distinct doubling on the “D” can add $5 to $25 to the base value, depending on the severity and overall coin condition.

Off-Center Strikes: Coins struck off-center show part of the design missing because the planchet wasn’t properly centered in the press. A 1950 penny struck 10 percent off-center might fetch $15 to $40, while a dramatic 50 percent off-center error with a full date visible could command $100 to $200. The key is retaining the date—off-center strikes without dates hold minimal collector interest.

Doubled Die Varieties: Minor doubled die errors exist on 1950 pennies but haven’t been cataloged as major varieties. Look for doubling in “LIBERTY,” the date, or “IN GOD WE TRUST” using a 10x magnifying glass. Obvious doubling visible to the naked eye on a 1950 penny would be significant—potentially worth $50 to several hundred dollars if authenticated.

Die Cracks and Cuds: Die breaks that create raised lines on coins are common on 1950 pennies. Small die cracks add only $1 to $3 in value. However, a “cud”—a raised blob of metal where a piece of the die broke away—can add $10 to $50 depending on size and location.

Wrong Planchet Errors: Extremely rare but documented, pennies occasionally get struck on planchets intended for other denominations. A 1950 penny struck on a silver dime planchet would be worth $1,000 or more, though you’d need authentication from Professional Coin Grading Service (PCGS) or Numismatic Guaranty Company (NGC) to verify such a claim.

Strike Doubling (Machine Doubling): Not to be confused with valuable doubled dies, machine doubling creates a shelf-like appearance on letters and dates. This mechanical error adds no premium value and sometimes actually reduces a coin’s grade.

Grading Your 1950 Wheat Penny Accurately

The difference between a $0.10 coin and a $10 coin often comes down to grading accuracy. Professional grading uses the Sheldon Scale from 1 to 70, but you can make reasonable assessments at home with practice.

For circulated coins, examine Lincoln’s cheekbone and jaw first. Good (G-4) grade coins show a flat, worn portrait with barely visible features. Fine (F-12) coins retain clear lettering but worn hair details. Extremely Fine (EF-40) specimens show slight wear only on the highest points—Lincoln’s cheekbone and jaw on the obverse, and the wheat lines on the reverse.

Uncirculated coins never entered circulation and show no wear. Mint State grades (MS-60 to MS-70) depend on factors like luster, contact marks, and eye appeal. An MS-60 coin is technically uncirculated but may have numerous bagmarks and dull luster. MS-65 specimens show strong luster with only minor contact marks visible under magnification. MS-67 and higher coins are exceptionally rare for 1950 pennies, with pristine surfaces and full original red copper color.

Color significantly affects uncirculated coin values. “Red” (RD) designates coins retaining 95 percent or more of their original copper-red color. “Red-Brown” (RB) coins show 5 to 95 percent original color. “Brown” (BN) coins have toned completely. A 1950-S graded MS-65 RD might bring $18, while the same coin in MS-65 BN drops to $8.

Professional grading through PCGS or NGC costs $20 to $40 per coin. This investment makes sense only for coins you believe grade MS-65 or higher, or for error coins where authentication proves value.

Market Demand and Where to Sell

Wheat Pennies occupy a sweet spot in numismatics—they’re old enough to feel historic but common enough for beginners to collect affordably. The 1950 issue attracts three types of buyers: date collectors building complete sets, mint mark collectors seeking all three 1950 varieties in high grade, and error enthusiasts hunting unusual specimens.

Local coin shops offer convenience but typically pay wholesale prices—roughly 50 to 70 percent of retail value for common dates. This works well for circulated coins worth under $5, where the time investment of private selling exceeds the profit potential.

Online marketplaces like eBay reach broader audiences, important for error coins or high-grade specimens. Completed listings show that 1950-S pennies graded MS-65 by PCGS consistently sell between $15 and $22, while raw (ungraded) coins claiming similar condition struggle to exceed $8. The grading slab provides buyer confidence worth the submission fee.

Heritage Auctions, Stack’s Bowers, and Great Collections handle significant coins through their regular auctions. They’re worth contacting if you have a 1950 penny graded MS-67 or higher, or an authenticated major error. Auction houses charge seller fees (typically 10 to 20 percent) but connect you with serious collectors willing to pay premium prices.

Reddit’s r/coins community and coin forum websites offer free valuations if you post clear photos of both sides of your penny. Experienced collectors can identify varieties and estimate grades, helping you decide whether professional grading makes financial sense.

Spotting Fakes and Altered Coins

Counterfeiting common-date wheat pennies isn’t profitable, but altered coins occasionally appear. The most common alterations involve adding or modifying mint marks to create false 1950-S coins from more plentiful Philadelphia or Denver specimens.

Examine the mint mark under magnification. Genuine mint marks show the same depth and patina as surrounding surfaces. Added mint marks often appear too sharp, too shallow, or show different coloring than the rest of the coin. Tool marks around the mint mark area signal potential alteration.

Another scam involves artificially retoning brown coins to appear red. Genuine red uncirculated copper shows even, natural coloring. Artificially brightened coins often display unnatural orange tones or uneven color distribution.

Weight offers a simple authentication test. Wheat Pennies should weigh 3.11 grams (with minor tolerance for wear). A scale reading significantly different suggests a wrong planchet or counterfeit.

Preservation Matters More Than You Think

Improper cleaning destroys more coin value than any other single factor. Never clean coins with abrasives, polishes, or even soap. The microscopic scratches reduce grades and eliminate collector premium. A naturally toned MS-63 coin is worth more than the same coin artificially cleaned to appear shinier.

Store valuable wheat pennies in inert plastic flips, capsules, or albums specifically designed for coin preservation. Paper envelopes and cardboard holders contain chemicals that accelerate toning and potentially damage copper surfaces over decades.

Handle coins by their edges only. Skin oils transfer to copper surfaces, creating fingerprints that become permanent over time. For high-grade specimens, consider wearing cotton or nitrile gloves during examination.

Building Your Collection Strategically

Rather than accumulating random 1950 pennies, focused collecting builds more valuable holdings. Consider these approaches:

Date-and-Mint Set: Acquire one example each of 1950, 1950-D, and 1950-S in the highest affordable grade. Three MS-63 coins cost approximately $15 total, creating an attractive mini-collection.

Grade Run: Collect one 1950-S in multiple grades from Good through Mint State, showing how condition affects value. This educational collection costs $25 to $40 to assemble.

Error Specialization: Focus on finding 1950 error coins of any mint mark. This hunting approach costs nothing beyond time but requires examining hundreds of coins to find varieties worth keeping.

The 1950 Wheat Penny represents accessible collecting—common enough to find easily but with sufficient variations to maintain interest. Whether you’re examining inherited coins or actively searching, understanding exactly what separates a five-cent coin from a five-dollar coin transforms casual curiosity into informed collecting.