Introduction & Identification
When the deafening guns of World War I finally fell silent on November 11, 1918, millions of Lincoln Pennies bearing that momentous year had already circulated into American pockets and purses. These small copper discs, often overlooked today, silently witnessed one of humanity’s most transformative periods. The 1918 Lincoln Wheat Penny represents more than just currency—it stands as a physical connection to an America transitioning from wartime production to peacetime prosperity.
The 1918 Lincoln Wheat Penny, designed by Victor David Brenner, features Abraham Lincoln’s profile on the obverse with the motto “IN GOD WE TRUST” above and the date and mint mark (when present) below. The reverse displays two wheat stalks framing the denominations “ONE CENT” and “UNITED STATES OF AMERICA,” with “E PLURIBUS UNUM” arched across the top. This one-cent coin was produced at three different mints: Philadelphia (no mint mark), Denver (D), and San Francisco (S).
Current Market Values (May 2025, PCGS Price Guide)
| Grade | Philadelphia (P) | Denver (D) | San Francisco (S) |
|---|---|---|---|
| G-4 | $0.75 – $1.00 | $1.25 – $1.75 | $0.60 – $0.85 |
| F-12 | $2.00 – $2.50 | $4.00 – $6.00 | $6.00 – $8.00 |
| XF-40 | $15.00 – $20.00 | $38.00 – $50.00 | $60.00 – $75.00 |
| MS-63 RB | $65.00 | $325.00 | $550.00 |
| MS-65 RD | $275.00 | $2,250.00 | $3,750.00 |
| MS-67 RD | $8,500.00 | $65,000.00 | $87,500.00 |
Exact Specifications
| Specification | Details |
|---|---|
| Weight | 3.11 grams (±0.13g tolerance) |
| Diameter | 19.05 mm |
| Composition | 95% Copper, 5% Tin and Zinc |
| Edge Type | Plain |
| Thickness | 1.52 mm |
Production Method: Struck on steam-powered screw presses at the Philadelphia, Denver, and San Francisco Mints. These coins were struck at approximately 100 pieces per minute, with dies typically producing 80,000-120,000 coins before replacement was necessary.
Obverse (Front) – 1918 Lincoln Wheat Penny
- Design: Features Victor David Brenner’s right-facing portrait of Abraham Lincoln, first introduced in 1909.
- Inscriptions: “IN GOD WE TRUST” along the top edge, “LIBERTY” at left, and the date “1918” at lower right.
🌾 Reverse (Back) – 1918 Lincoln Wheat Penny
- Design: Shows two stylized wheat stalks flanking the denomination “ONE CENT,” with “UNITED STATES OF AMERICA” below and “E PLURIBUS UNUM” arching above.
- Edge & Composition: Plain edge; struck in 95 % copper with 5 % tin and zinc.
Mintage & Historical Context
The 1918 Lincoln cent production occurred during America’s full mobilization for World War I, which affected both metal availability and production priorities at the U.S. Mint facilities.
| Mint Location | Mintage | Mint Mark | Notes |
|---|---|---|---|
| Philadelphia | 288,104,634 | None | Highest production volume |
| Denver | 47,830,000 | D | Located below date on obverse |
| San Francisco | 34,680,000 | S | Located below date on obverse |
Historical Production Context: The 1918 mintage figures reflect the economic pressures of World War I. While the Philadelphia Mint maintained robust production to support wartime circulation needs, branch mints saw reduced output as resources were diverted to war production. The San Francisco facility, in particular, operated with reduced staff and limited metal supplies, explaining its comparatively lower mintage.
During 1918, many Lincoln Pennies were melted down by civilians attempting to extract copper for the war effort, despite federal laws prohibiting coin destruction. This unauthorized melting, combined with the already reduced production at branch mints, has made high-grade examples of 1918-D and 1918-S cents particularly scarce today.
1918 Lincoln Wheat Penny – Key Errors & Varieties
Although over 382 million Lincoln cents were struck in 1918, a surprising variety of mint errors—ranging from bold doubled dies to subtle planchet flaws—can turn an otherwise common penny into a collectible treasure. Key error types for 1918 include Doubled-Die Obverses, Off-Center Strikes, Struck-Through Grease varieties, Lamination Errors, Die Cracks & Clashes, and Repunched Mint Marks. Values span from single-digit premiums up to several thousand dollars for dramatic, certified varieties.
Doubled-Die Obverse (DDO)
True Doubled-Die Obverses on 1918 cents show clear, separated doubling of the date or lettering, most often visible on “LIBERTY” and the date numerals. Mid-grade circulated examples typically trade in the $50–$100 range, while certified mint-state DDOs can bring $500 or more—one rare auction example realized $2,000 despite wear, thanks to its dramatic date doubling.
Off-Center Strikes
Off-Center Strikes occur when a planchet slips past the collar before striking, clipping a portion of Lincoln’s portrait or the reverse wheat stalks. Even modest 5–10 percent offsets on 1918 cents command $40–$60, while dramatic 25–30 percent off-centers can fetch $150–$250 depending on eye appeal.
Struck-Through Grease Varieties
Struck-Through Grease errors happen when lubricant or debris on the die blocks metal flow, producing weak, doubled, or missing details—commonly in areas like “LIBERTY” or the date. In circulated grades, these varieties sell for $10–$25; high-grade eye-appealing examples can climb to $50–$75.
Lamination Errors
Lamination Errors stem from impurities or bonding failures in the planchet, causing surface layers to peel or flake. Typical 1918 lamination peels sell for $15–$40, whereas bold, multi-layered flaking examples may reach $75–$125.
Die Cracks & Die Clashes
Die Cracks appear as raised, hair-thin fissures radiating from the hub, while Die Clashes transfer ghosted design elements from one die onto the blank. Minor die cracks on 1918 cents trade for $5–$15; bold clash patterns—such as inverted wheat stalks on the obverse—can command $50–$100.
Repunched Mint Marks (RPM)
Although less common on 1918, subtle Repunched Mint Marks—especially on S-mint issues—show a faint secondary “S” impression. Well-defined RPMs on 1918-S cents typically sell for $75–$120 when clearly visible under magnification
Grading Standards
Grade Hallmarks for 1918 Lincoln Cents
G-4 (Good)
- Complete rim must be visible, though may be worn thin in areas
- Lincoln’s profile outline complete, but major facial details flat
- Lettering legible but may connect to rim in places
VG-8 (Very Good)
- Complete separation between rim and lettering
- Some detail visible in Lincoln’s hair above ear
- Full “LIBERTY” legible, though worn
- Wheat stalks defined but flat in center
F-12 (Fine)
- At least 3 distinct hair strands visible above Lincoln’s ear
- Cheek and jaw show some definition
- Wheat stalks show some internal detail
XF-40 (Extremely Fine)
- All hair strands crisp and separately defined
- Slight wear on highest points (cheek, jaw, hair curl)
- Bold wheat details with light wear on highest portions
MS-63 (Uncirculated – Choice)
- Full mint luster present
- May have several noticeable contact marks
- Eye appeal slightly impaired by minor imperfections
- 1918 issues often show weakness in center of wheat stalks even in MS grades
MS-65 (Uncirculated – Gem)
- Strong luster with minimal marks
- Strike quality typically stronger on Philadelphia issues than branch mints
- 1918-S particularly difficult in this grade due to typically weak strikes
Interesting Fact: The 1918-D Lincoln cent is known for having the highest frequency of struck-through errors of any Lincoln cent from this era, where foreign material (often cloth fragments from coin bags) became trapped between the die and planchet during striking. These errors were more common at Denver due to reduced quality control during wartime production.
Notable Recent Sales:
- 1918 MS-67 RD (P): $55,200 (PCGS MS-68 RD record, April 5 2022)
- 1918-D MS-67 RD: $65,000 (PCGS MS-67 RD, July 2024)
- 1918-S MS-67 RD: $87,500 (PCGS MS-67 RD, August 2024)
The most significant market development in recent years has been the gradual price increase for premium examples of the 1918-D cent. While Philadelphia issues remain relatively available in all grades, Denver and San Francisco examples in MS-65 and above continue to appreciate steadily as PCGS and NGC population reports show few additions at these elite levels.
Counterfeit & Preservation Watch
Counterfeit Indicators
- Cast Counterfeits
- Look for granular surface texture under magnification
- Diagnostic: Faint seam lines often visible on edge
- Weight often 2-5% lighter than genuine specimens
- [PHOTO SUGGESTION: Microscopic comparison of cast vs. struck texture]
- Altered Mint Marks
- Added D or S mint marks to increase value of Philadelphia issues
- Diagnostic: Area around mint mark often shows tooling marks
- Mint mark size or placement may differ from genuine examples
- Authentication tip: Compare mint mark position and size to verified genuine specimens
Toning Guide
Natural Toning Characteristics for 1918 Lincoln Cents:
- Gradual color progression from red to brown, often starting at edges
- Colors typically follow spectrum: red → orange → purple → blue → brown
- Even distribution without sharp boundaries
Artificial Toning Indicators:
- Unnatural color patterns (especially bright blues and greens)
- Sharp color boundaries without transition zones
- Spotty or blotchy appearance under magnification
- Authentication tip: Artificial toning often appears raised under 10x magnification
Preservation Advice
For 1918 Lincoln cents, proper storage is essential to preserve both value and aesthetic appeal:
- Recommended Storage:
- Inert, PVC-free holders (Mylar preferred)
- For uncirculated examples, avoid fingerprint contact by using cotton gloves
- Store in temperature and humidity controlled environment (65-70°F, 40-50% humidity)
- What to Avoid:
- “Soft” plastic flips containing PVC (produces green residue over time)
- Commercial “dips” and cleaning solutions
- Paper envelopes containing sulfur (causes accelerated toning)
- Handling coins with bare fingers (oils cause spotting over time)
Collector’s Corner: Roll-Hunting & Acquisition
Roll-Hunting Strategy
While 1918 cents rarely appear in modern penny rolls, strategic searching can occasionally yield results:
- Bank Roll Sources:
- Rural banks in regions with stable, older populations
- Rolled pennies from estate liquidations
- Credit unions with older clientele often yield better results than large banks
- Visual Identification Tips:
- Wheat cents are easily identified by their distinctive reverse
- 1918 issues often have a slightly darker appearance than later dates due to aging
- Denver and San Francisco issues can be quickly identified by checking the position under the date for mint marks
Acquisition Strategy
For collectors seeking 1918 Lincoln cents, consider the following acquisition approaches:
- Dealer Selection:
- Recommended specialists: Heritage Auctions, Stack’s Bowers, David Lawrence Rare Coins
- Regional shows: ANA World’s Fair of Money, FUN Show, Long Beach Expo
- Online platforms: GreatCollections, Heritage Auctions, eBay (for vetted sellers with return policies)
- Market Timing:
- January-February often sees temporarily depressed prices after holiday spending
- Major auction season (April-August) provides best selection for quality specimens
- Monitor Heritage Auctions archives to establish fair market value before purchasing
- Buying Tips:
- For key dates like 1918-S, prioritize eye appeal and strike quality over technical grade
- Consider Brown (BN) or Red-Brown (RB) examples for value – full Red (RD) examples command hefty premiums
- Authentication is essential for any 1918-D or 1918-S in MS-65 or higher
Frequently Asked Questions
How can I tell if my 1918-D cent has been cleaned?
Examine the fields (flat areas) under angled light. Cleaned coins typically show hairline scratches in a uniform direction and unnatural brightness. Natural luster has a cartwheel effect that rotates as you tilt the coin, while cleaned coins show flat, dull luster. Also check recessed areas like lettering—cleaning often leaves residue in these protected areas.
Are 1918 pennies valuable because of their age alone?
Age is only one factor. The 1918 Philadelphia cent had a large mintage and remains relatively common in circulated grades. True value derives from condition, mint mark (D and S are more valuable), presence of original red color, and any significant varieties or errors. An ordinary circulated 1918 without mint mark typically trades for $0.75-$4.00 depending on condition.
Why are 1918-D cents in MS-65 so much more expensive than Philadelphia issues?
This substantial price difference results from three factors: lower original mintage (47.8 million vs. 288.1 million), poorer striking quality at the Denver facility during wartime production, and different distribution patterns. Philadelphia cents were more likely to be saved uncirculated in bank-wrapped rolls, while Denver issues were quickly placed into circulation to meet commerce needs in the expanding western states.
How does red color (RD designation) affect the value of my 1918 cent?
The premium for original red color is substantial, especially for branch mint issues. A 1918-D in MS-65 RB (Red-Brown) might sell for $1,400-1,700, while the same coin with full Red color (MS-65 RD) commands $2,250-3,000. This premium increases with grade, as original red surfaces become increasingly rare in higher mint state levels.
Is it worth having my circulated 1918 penny professionally graded?
For most circulated 1918 cents (grades below AU-50), professional grading costs exceed the value added. Exceptions include suspected varieties (like the 1918/7 overdate) or unusually well-preserved specimens. Professional grading becomes economically justified for uncirculated examples (MS-60+) of any mint, or for AU examples of the Denver and San Francisco issues.
This article references data from the PCGS Price Guide (May 2025), Heritage Auctions results (January-April 2025), the Official Red Book Guide to U.S. Coins (2025 edition), and U.S. Mint Annual Reports (1918-1919). Variety attributions follow the Fivaz-Stanton (FS) numbering system as documented in the Cherrypickers’ Guide to Rare Die Varieties, 7th Edition.