1929 Wheat Penny Value (2026 Guide): Errors List, “D”, “S” & No Mint Mark Worth

The 1929 wheat penny holds a unique place in American numismatic history as one of the last coins minted before the Great Depression transformed the nation. With approximately 277 million pennies produced across three mints that year, many of these copper coins circulated through the hardest economic times in American history.

This widespread circulation during such a pivotal moment gives these wheat cents both historical significance and collecting appeal that extends far beyond their modest face value. Top-grade specimens command significantly higher prices, with a 1929-S graded MS67 Red fetching an extraordinary $36,000 at Heritage Auctions in January 2025.

In this guide, you will learn everything you need to know about the 1929 wheat penny value. We will explore the coin’s history, its unique features, and how much it is worth in circulated and uncirculated condition — including color designations like Red (RD), Red-Brown (RB), and Brown (BN) that dramatically affect price.

 

1929 Wheat Penny Value By Variety

The 1929 wheat penny demonstrates significant value variations across different mint marks and preservation levels. If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Top 10 Most Valuable 1929 Wheat Penny Worth Money

The auction record hierarchy for 1929 wheat pennies reveals a dramatic concentration of value within the highest preservation levels, with San Francisco specimens dominating the premium tier.

The extraordinary $36,000 achieved by a 1929-S MS67 Red specimen at Heritage Auctions in January 2025 demonstrates how condition rarity transforms a coin struck by the millions into a serious numismatic treasure. This single sale set an all-time record for any 1929 Lincoln cent.

Denver mint specimens hold their own in the rankings, with an MS66+ Red 1929-D reaching $11,400 at Heritage Auctions in January 2025 — confirming strong demand for the lowest-mintage variety of the three. Meanwhile, the previous 1929-D auction benchmark of $5,290 for an MS66 Red example (PCGS, 2004) shows how much the market has appreciated in two decades.

The data reveals significant grade sensitivity across all three mints, where a single grading point difference can multiply values by hundreds or even thousands of dollars.

Also Read: Lincoln Wheat Penny Value (1909-1958)

 

History Of The 1929 Wheat Penny

The 1929 wheat penny emerged during a pivotal moment in American history, representing the final year of the prosperous “Roaring Twenties” before the Great Depression transformed the nation’s economic landscape.

According to PCGS CoinFacts, Lincoln Wheat Cent production in 1929 reached levels not seen since 1919 and 1920 — a clear reflection of the economic confidence that existed before the crash. The Dow Jones Industrial Average peaked on September 3, 1929, before a series of devastating selloffs culminated in “Black Tuesday” on October 29, 1929, an event that permanently altered American economic history.

The United States Mint produced a total of 277,140,000 pennies in 1929 across three facilities, with no proof coins manufactured since the Mint had suspended proof production from 1916 to 1936. The Philadelphia Mint struck approximately 185,262,000 wheat pennies without mint marks, representing roughly two-thirds of total production for that year.

The Denver Mint contributed 41,730,000 coins bearing the “D” mint mark — the lowest mintage among the three facilities — while San Francisco produced about 50,148,000 pennies marked “S.” These 1929 coins maintained the traditional wheat penny composition of 95% copper with 5% tin and zinc, continuing the design legacy established by sculptor Victor David Brenner in 1909 to honor Abraham Lincoln’s centennial.

Brenner’s initials “VDB” appeared on the very first Lincoln cents in 1909, were removed due to public criticism, and were later restored in 1918 in small font beneath Lincoln’s shoulder — where they remain on all 1929 examples. President Theodore Roosevelt had chosen Brenner for this commission based on a Lincoln portrait plaque the artist had created.

The historical significance of 1929 pennies extends beyond their monetary value. These coins became witnesses to one of America’s most dramatic economic transitions, with most entering active circulation during the Depression years that followed.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

 

Is Your 1929 Wheat Penny Rare?

Determine the precise rarity classification and current market status for your wheat penny variety with our CoinValueChecker App‘s detailed wheat cent analysis.

 

Key Features of The 1929 Wheat Penny

Recognizing these specific design elements and physical attributes will help you distinguish authentic 1929 specimens from other wheat penny years and assess their condition accurately. Understanding each element is also key to evaluating color designation — the single most important factor in uncirculated pricing.

The Obverse Of The 1929 Wheat Penny

The obverse (heads side) of the 1929 wheat penny features the right-facing portrait of President Abraham Lincoln, a design that broke a century-old American tradition of using allegorical Liberty figures. This portrait takes up the majority of the coin’s surface and was designed by sculptor Victor David Brenner to commemorate Lincoln’s 100th birthday.

The words IN GOD WE TRUST appear at the top above Lincoln’s head along the coin’s inner rim. The word LIBERTY is shown on the left behind the president’s back, while the date appears to the right of the portrait. The mint mark — either “S” for San Francisco or “D” for Denver — appears directly below the date; Philadelphia-struck coins have no mint mark.

The Reverse of The 1929 Wheat Penny

The reverse of the 1929 wheat penny features two stylized durum wheat stalks — one on the left and one on the right — which gave the entire Lincoln cent series from 1909–1958 its popular “Wheat Penny” nickname. The coin’s denomination, ONE CENT, appears prominently in the center, followed by the country name UNITED STATES OF AMERICA.

The motto E PLURIBUS UNUM (Latin for “Out of many, one”) arches across the top along the coin’s inner rim. When examining the reverse for condition, look closely at the sharpness of the wheat stalk lines — any flattening indicates wear and affects grade.

Other Features Of The 1929 Wheat Penny

The 1929 wheat penny measures 19.00 millimeters in diameter and weighs 3.11 grams. It is made of 95% copper, 5% tin and zinc — a composition used continuously from 1909 through 1982, except during the wartime 1943 steel cent year.

The coin has a plain (smooth) edge. When grading color designation, PCGS and NGC (the two main professional grading services) use a three-tier system: Red (RD) means 95% or more original mint copper color; Red-Brown (RB) means between 5% and 95% red remaining; Brown (BN) means less than 5% original red color survives. Red examples are always worth the most.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

 

1929 Wheat Penny Mintage & Survival Data

The 1929 wheat penny production figures reveal significant disparities between the three minting facilities. Philadelphia dominated with over 185 million coins, while Denver and San Francisco contributed substantially smaller quantities to meet national circulation demands.

Despite the massive total mintage of over 277 million pieces, current survival data tells a strikingly different story. The Philadelphia Mint’s 185,262,000 coins have yielded only approximately 5,600 known survivors — a mere 0.003% survival rate. Denver’s 41,730,000-coin output shows a slightly better preservation rate of approximately 0.0053%.

These remarkably low survival rates reflect the heavy circulation 1929 pennies experienced during the Great Depression, when economic hardship meant coins remained in constant use rather than being set aside. For the 1929-S specifically, PCGS CoinFacts notes that only about 600 examples are known in MS65 Red condition, roughly 100 in MS66, and none confirmed at MS67 or above — making high-grade San Francisco specimens genuine condition rarities despite a mintage of 50 million.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

 

The Easy Way to Know Your 1929 Wheat Penny Value

Your 1929 wheat penny’s value ranges from around 35 cents in heavily worn condition to several thousand dollars for gem-quality examples, with mint mark and color designation being the two most decisive factors after grade.

Lincoln’s hair sharpness above and behind the ear, wheat stalk detail clarity, and the coin’s color (Red vs. Red-Brown vs. Brown) determine whether you have a common circulated piece or a premium collector specimen. The 1929-D and 1929-S varieties, both known for die wear and weaker strikes on average, carry extra premiums for sharply struck examples.

For immediate and accurate condition assessment of your 1929 wheat penny, use our CoinValueChecker App to instantly determine grade and current market value.

 

1929 Wheat Penny Value Guides

The final year of the Roaring Twenties produced three fascinating wheat penny variants, each bearing witness to America’s last moments of economic prosperity before the Great Depression transformed the nation. Production across Philadelphia, Denver, and San Francisco created distinctly different collecting opportunities, from Philadelphia’s massive output to Denver’s notably smaller contribution.

Understanding these facility-specific differences enables collectors to make informed decisions when building date sets, pursuing condition rarities, or identifying undervalued opportunities in today’s marketplace.

1929 Wheat Penny Types:

• 1929 No Mint Mark Wheat Penny (Philadelphia)
• 1929-D Wheat Penny (Denver)
• 1929-S Wheat Penny (San Francisco)

Also Read: Value Of Old Pennies By Year (1959-Present)

 

1929 No Mint Mark Wheat Penny Value

The Philadelphia Mint’s massive production of 185,262,000 wheat pennies in 1929 makes this the most common variety of the three — but finding premium examples still requires careful selection due to heavy Depression-era circulation. According to PCGS CoinFacts, the 1929 Philadelphia cent generally comes well-struck with strong luster and good eye appeal, making it more accessible to condition-focused collectors than either the Denver or San Francisco issues.

Color designation — the PCGS/NGC system for describing how much original copper luster a coin retains — dramatically affects price across every grade. Brown (BN) examples, which have oxidized to a chocolate color over the decades, represent the most affordable entry point; PCGS values a Brown MS65 at around $55 and an MS66 Brown at approximately $100. Red-Brown (RB) coins retain some original luster and command moderate premiums, reaching roughly $250 at MS66.

Red (RD) specimens — those retaining 95% or more of their original bright copper color — represent the pinnacle of 1929 Philadelphia penny collecting. In circulated grades, a Good-4 example is worth about $0.15 to $0.35, while an Extremely Fine-40 can bring $3 to $5. The all-time auction record for this variety stands at $5,581.25 for an MS67+ Red specimen sold through Heritage Auctions in April 2014. Population data shows MS67 examples are genuinely scarce, making that benchmark unlikely to be matched easily.

Recent auction activity demonstrates sustained collector interest in premium examples.

The Philadelphia variety maintains steady market activity among collectors.

 

1929-D Wheat Penny Value

The Denver Mint’s production of 41,730,000 wheat pennies in 1929 represents the lowest mintage among the three facilities, creating enhanced collector demand for this semi-key date. Denver Mint coins from this era are historically noted for weaker average strikes than Philadelphia issues, so cherry-picking sharply struck examples adds meaningful value when shopping for this variety.

Heavily worn circulated examples trade for modest amounts — around $0.35 to $1 in Good condition and up to $20 in Extremely Fine. Uncirculated specimens command substantial collector interest, with MS65 Red examples worth $150 or more and MS66-graded coins reaching $400 or higher in recent markets.

Color designation creates significant value stratification, with Red examples commanding major premiums over Brown counterparts due to superior eye appeal and original copper luster retention. The peak achievement for any 1929-D occurred in January 2025 when an exceptional MS66+ Red specimen realized $11,400 at Heritage Auctions — shattering the prior record of $5,290 for an MS66 Red set back in 2004. A 1929-D Doubled Die Obverse variety showing doubling in the IN GOD WE TRUST motto is also known; pieces like this trade in the $50–$100 range depending on strike clarity and grade.

Historical auction data demonstrates the sustained premium commanded by 1929-D wheat penny examples across all grade levels.

Market activity reflects the 1929-D’s status as a condition-sensitive issue with sustained collector interest.

 

1929-S Wheat Penny Value

San Francisco’s production of approximately 50,148,000 wheat pennies in 1929 falls between Philadelphia and Denver in mintage — but in terms of condition rarity, the 1929-S far outranks the other two. Moderate to heavy die erosion affected most surviving specimens, and strike quality challenges from deteriorating San Francisco dies make sharply struck examples exceptionally difficult to locate.

PCGS CoinFacts confirms that only about 600 examples are known in MS65 Red, approximately 100 in MS66 Red, and no examples at all have been certified MS67 or higher — making this the most challenging of the three 1929 varieties to locate in top condition. In January 2019, a PCGS-graded MS-66+ Red example sold for $14,400, and that record was surpassed when Heritage Auctions achieved $18,600 in 2022 for another MS66+ Red specimen. The current all-time record, an extraordinary $36,000, was set at Heritage Auctions in January 2025 for a PCGS MS67 Red example — the first and only 1929-S to reach that grade.

In circulated condition, a Good-4 example is worth around $0.50–$1.10, while an Extremely Fine-40 can bring $8–$15. For collectors building Red sets, the 1929-S is clearly the most difficult acquisition in the entire 1929 date-and-mintmark set.

Exceptional specimens have commanded impressive prices at major auction houses, reflecting the coin’s reputation among advanced collectors.

Market activity demonstrates strong collector appreciation for this West Coast variety with particular enthusiasm.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Rare 1929 Wheat Penny Error List

Errors can sometimes dramatically increase a coin’s value — but not all errors are equally desirable. Knowing which specific errors to look for can help you identify 1929 wheat pennies worth hundreds or even thousands of dollars.

1. 1929-S/S RPM FS-501 Error

The 1929-S/S RPM FS-501 is a Repunched Mint Mark (RPM) variety — meaning the “S” mint mark was manually punched into the die twice at slightly different angles, creating overlapping impressions visible under magnification. Before 1990, mint workers hand-punched each mint mark into individual working dies, and occasional misalignments led to these collectible varieties.

The FS-501 designation comes from the Fivaz-Stanton “Cherrypickers’ Guide to Rare Die Varieties,” the leading reference book for Lincoln cent variety attribution. Authentication requires at least 10x magnification to see the distinct separation between the primary and secondary “S” impressions.

The all-time PCGS auction record for this RPM variety is $3,565 for an MS65 example sold by Bowers & Merena on June 17, 2010 — a record that has stood for over a decade, reflecting the variety’s extreme scarcity in high grades. An MS64 Brown specimen sold for $295 in January 2019, establishing baseline values for certified mid-grade examples. Lower-grade circulated pieces typically trade in the $45–$90 range depending on how visible the repunching appears.

2. 1929 Doubled Die Obverse (DDO)

A Doubled Die Obverse — abbreviated DDO — occurs when the hub that impresses the design onto a working die strikes twice at slightly different angles, leaving a doubled impression on every coin struck from that die. This is not the same as “machine doubling,” which creates a flat, shelf-like effect and has no collector value; genuine DDOs show rounded, separated doubling.

All three 1929 mint facilities have known DDO varieties. The 1929-D DDO shows visible doubling in the IN GOD WE TRUST motto and is the most valuable of the three, trading in the $50–$100 range in circulated grades. The 1929-S DDO shows doubling in the date and LIBERTY inscription, worth $25–$75 depending on the strength of the doubling. Philadelphia DDOs are the most common of the three, typically bringing $10–$50 in circulated condition. Use a 10x loupe and compare your coin against published variety images in the Cherrypickers’ Guide before attributing any doubling as a genuine DDO.

3. 1929 Off-Center Strike Error

Off-center strikes occur when a blank coin (called a planchet) is not properly centered between the dies during striking, resulting in a portion of the design being cut off on one side with blank planchet visible on the opposite edge. Minor off-center errors of 1%–5% have minimal additional value.

Once a 1929 wheat penny reaches 10%–20% off-center, values jump to $50 or more. Dramatic examples showing 25%–50% missing design with the full date still visible can sell for $100–$500. The most valuable off-center pieces are 50%+ off while retaining a fully legible date, since the date is essential for attribution and market appeal.

4. 1929 BIE Die Crack Error

The BIE error is a beloved Lincoln cent variety caused by a die crack that develops between the “B” and “E” of the word LIBERTY, creating a raised vertical line that resembles the letter “I” — making the word appear to read “LIBIERTY.” Die cracks form as the hardened steel die gradually develops fractures from repeated use; the metal of the coin fills those cracks, leaving raised lines on finished coins.

Over 1,500 documented BIE varieties exist across the entire Lincoln cent wheat series. Known 1929 BIE errors are relatively scarce as a class. Values typically range from $5–$15 for common examples, with well-preserved or particularly dramatic die breaks worth more to specialists.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Where to Sell Your 1929 Wheat Penny?

To ensure you receive top dollar for your valuable 1929 wheat penny, explore our comprehensive comparison of today’s most trusted selling venues.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1929 Wheat Penny Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About The 1929 Wheat Penny

1. How Rare Is A 1929 Wheat Penny?

The 1929 wheat penny is not rare in circulated condition — the U.S. Mint struck over 277 million across three facilities, and most collectors can find circulated examples for under $1. However, gem-quality Mint State Red examples are genuinely scarce. The 1929-S in MS66 Red has only about 100 PCGS-certified examples, and the single MS67 Red specimen that sold for $36,000 in 2025 is the only one known at that grade level.

2. What Makes A 1929 Wheat Penny Valuable?

Four factors drive value: mint mark (1929-D and 1929-S command premiums over the common Philadelphia issue), grade (MS60 and above), color designation (Red > Red-Brown > Brown), and errors (RPM, DDO, off-center). A heavily worn Philadelphia example might be worth $0.35, while an MS67+ Red example of the same coin sold for $5,581 at Heritage Auctions in 2014.

3. How Much Does A 1929 Wheat Penny Weigh?

A 1929 wheat penny weighs exactly 3.11 grams and measures 19.00 millimeters (about 0.75 inches) in diameter. It is 1.55 millimeters thick with a smooth (plain) edge. Knowing these specifications helps identify counterfeits or altered coins that deviate from these measurements.

4. What Is The Difference Between A 1929 Red, Red-Brown, And Brown Penny?

These are official color designations assigned by PCGS and NGC (the two leading professional grading services). Red (RD) means the coin retains 95% or more of its original bright copper mint luster and commands the highest prices. Red-Brown (RB) means between 5% and 95% of original red color survives. Brown (BN) means less than 5% of the original copper color remains. In MS65 grade, a 1929-S Red is worth dramatically more than the same coin in Brown, so color designation is critically important when buying or selling.

5. Which 1929 Wheat Penny Is Worth The Most?

The 1929-S currently holds every top record in the series. The all-time high is $36,000 for a PCGS MS67 Red example sold at Heritage Auctions in January 2025 — the first and only 1929-S ever certified at that grade. Before that, a 1929-S MS66+ Red brought $18,600 in 2022 and another MS66+ Red achieved $14,400 in 2019, all at Heritage Auctions.

6. What Is The 1929-S/S RPM FS-501 Error And What Is It Worth?

The 1929-S/S RPM FS-501 is a Repunched Mint Mark variety where the “S” was punched into the die twice at different positions. “FS-501” is the catalog number from Bill Fivaz’s Cherrypickers’ Guide to Rare Die Varieties, the standard reference for Lincoln cent variety attribution. Circulated examples trade for $45–$90, while the PCGS auction record of $3,565 was set for an MS65 example sold through Bowers & Merena in June 2010.

7. Should I Clean My 1929 Wheat Penny?

Never clean a 1929 wheat penny under any circumstances — not even gently. Cleaning removes the natural patina that grading services expect to see and instantly disqualifies a coin from receiving a standard numerical grade. Professional graders at PCGS and NGC can detect cleaning even under light magnification and will label a cleaned coin as “details” grade, which typically reduces its resale value by 50%–80% compared to an uncleaned example of the same grade.

8. Is It Worth Getting A 1929 Wheat Penny Professionally Graded?

Professional grading by PCGS or NGC costs roughly $100–$150 per coin when you factor in membership, submission fees, shipping, and insurance. It is generally worthwhile if your 1929 wheat penny appears to be Mint State with strong Red color, if it has a visible error like an RPM or DDO, or if you are targeting a major auction house that requires certified coins. For circulated examples worth under $50, the grading cost is unlikely to be recovered.

9. What Are BIE Errors On A 1929 Wheat Penny?

BIE errors are die crack varieties that create a raised vertical line between the “B” and “E” of the word LIBERTY, making the coin appear to spell “LIBIERTY.” The name comes from those three letters — B, I, E. Over 1,500 documented BIE varieties exist across the entire Lincoln cent series. Known 1929 BIE errors exist but are relatively scarce and are enthusiastically collected as a Lincoln cent niche specialty. Values range from $5–$15 for typical examples, with more dramatic die breaks worth more.

10. How Do I Know If My 1929 Wheat Penny Has A Doubled Die?

Use a 10x magnification loupe and examine the date “1929,” the motto IN GOD WE TRUST, and the word LIBERTY closely. A genuine Doubled Die Obverse (DDO) shows clear, rounded, separated impressions offset from the main design — not a flat shelf-like effect, which is worthless “machine doubling.” All three 1929 mint facilities have documented DDO varieties. A 1929-D DDO can be worth $50–$100 in circulated grades, while a 1929-S DDO may bring $25–$75 depending on doubling strength. Always compare to attributed images in the Cherrypickers’ Guide or PCGS CoinFacts before assuming you have a genuine DDO.