1938 Penny

Notes: 14.7 thousand proofs issued and value at somewhere around $70 each.

The value of a 1938 penny can vary depending on several factors, such as its condition, mint mark, and any errors or varieties. Here are some general estimates for the value of a 1938 penny by mint and by condition:

1938 penny with no mint mark (from Philadelphia):

• In circulated condition, this penny is worth between 10 cents and $1.
• In uncirculated condition, it can be worth between $4 and $20.

1938-D penny (from Denver):

• In circulated condition, this penny is worth between 10 cents and $1.
• In uncirculated condition, it can be worth between $5 and $40.

1938-S penny (from San Francisco):

• In circulated condition, this penny is worth between 10 cents and $1.
• In uncirculated condition, it can be worth between $30 and $100.

It's important to note that these values are just estimates and that the actual value of a 1938 penny can vary depending on its condition and any errors or varieties it may have. If you have a 1938 penny and are unsure of its value, it's always a good idea to consult with a professional numismatist or reference guide.

Copper Penny Color Guide

Price Chart

Rates listed here refer to professionally graded and slabbed coins. If new to collecting the prices below might not make sense.

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Values are for the 1938 Penny in RD condition. Proofs were issued at the Philadelphia mint and are detailed below with the prefix PR. Very few proofs were issued in 1938 making proofs very valuable.

• Grade MS62 = $2-$4
• Grade MS63 = $5-$8
• Grade MS64 = $11-$18
• Grade MS65 = $15-$25
• Grade MS66 = $21-$35
• Grade MS67 = $75-$125
• Grade PR63 = $71-$148
• Grade PR64 = $109-$181
• Grade PR65 = $161-$269

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Values are for the 1938 Penny in RB condition. Very few proofs were issued in 1938 making proofs very valuable.

• Grade MS63 = $2-$4
• Grade MS64 = $5-$8
• Grade MS65 = $11-$18
• Grade MS66 = $15-$25
• Grade PR63 = $60-$125
• Grade PR64 = $60-$100
• Grade PR65 = $113-$188

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Is the list above a little overwhelming? If so, take 5 minutes to learn all about Coin Grading.

It's also important to note...Prices are subject to the same supply and demand laws as everything else. Coins sold at the same auction house 10x, would fetch drastically different bids each session. To raise your chances of receiving top dollar read How to Get the Most for your Coins.

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How much is a 1938 Penny worth?

In Average Circulated (AC) condition it's worth around 35 cents, one in certified mint state (MS+) condition could bring as much as $22 at auction. This price does not reference any standard coin grading scale. So when we say Average Circulated, we mean in a similar condition to other coins circulated in 1938, and mint state meaning it is certified MS+ by one of the top coin grading companies. *** [?].

What are your coins really worth?

Use the handy-dandy calculator below to find the real value of any wheat penny in your collection.

Specs & Design

This coin has a total mass of 3.11 g, a diameter of 19.05 mm, and a thickness of 1.55 mm. It's edge is smooth, and the coins are composed of 95% copper and 5% tin and zinc..

Designer: Victor D. Brenner

Front (Obverse): The front or obverse of this coin contains the bust of Abraham Lincoln, the 16th president of the United States. If a mint mark is present it will be on the bottom right just under the year. If no mint mark is present the coin was minted in Philadelphia. With D standing for Denver, and S standing for San Francisco. The words IN GOD WE TRUST follow the top arch of the coin nicely framing Lincolns head, and the word LIBERTY sits just left of President Lincolns Colar.

Back (Reverse): The reverse of the Wheat Penny, also known as the Wheat Cent contains two wheat stalks, the words One Cent, and the Latin phrase E PLURIBUS UNUM which means Out of many, one. The reverse image would later change in 1959.