1935 Wheat Penny Coin Value: Errors List, “D”, “S” & No Mint Mark Worth

1935 Wheat Penny value ranges from $0.01 face value to $84,000. That record belongs to a PCGS-graded MS68+ Red example sold at Heritage Auctions in January 2025 — one of the finest known survivors of the date. If you’re wondering where yours lands, upload a photo of your coin below and get a quick value range. Then scroll down to see what 1935 Wheat Pennies are actually selling for on eBay right now.

 

1935 Wheat Penny Value By Variety

Mint marks and condition make all the difference. The chart below breaks it down — if you already know your coin’s grade, skip ahead to the Value Guides section for exact pricing.

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

 

Top 10 Most Valuable 1935 Wheat Penny Worth Money

The coin sitting at the top of this list is a 1935 Philadelphia penny graded MS68 Red by PCGS. It hammered for $84,000 at auction — a jaw-dropping number for a Depression-era cent. What pushed it that high? Only 2 examples have ever graded MS68 from Philadelphia. That kind of top-pop scarcity turns a common date into a five-figure coin overnight.

A separate MS68+ Red example with a CAC sticker brought $34,075 back in 2018, and a no-mint-mark piece sold for $55,813 at Legend Rare Coins Auctions in 2022. The 1935-S holds the second spot at $23,000 for an MS67 Red. Every single top result lives in the MS66–MS68 range with full original Red color. One grade point up at these levels can multiply the price dramatically.

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

 

History of The 1935 Wheat Penny

By 1935, the Lincoln cent had been in production for over 25 years, first introduced in 1909 to mark the centennial of Abraham Lincoln’s birth. Sculptor Victor David Brenner designed it after President Theodore Roosevelt admired a Lincoln portrait plaque Brenner had created. The two wheat stalks on the reverse gave the coin its lasting nickname.

The country was deep in the Great Depression’s sixth year. FDR’s New Deal programs were in full swing, and Congress signed the Social Security Act into law that same year. Here’s a fun detail: a penny actually bought something in 1935. Candy, a newspaper, a streetcar ride — one cent was real money to millions of families.

Penny production stayed massive despite the economic crisis. Philadelphia struck 245,388,000 coins, Denver struck 47,000,000, and San Francisco struck 38,702,000. All were made from 95% copper and 5% tin and zinc. Those production gaps are exactly why the three varieties trade at different prices today.

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

 

Is Your 1935 Wheat Penny Rare?

Here’s what trips people up: the 1935-S had the lowest mintage, but the Philadelphia coin is actually harder to find at the very top grades. Only 2 Philadelphia examples have ever graded MS68. Meanwhile, the 1935-S — with roughly one-sixth the mintage — has more certified survivors in some mid-Mint-State grades because fewer were abused in heavy commerce. Rarity depends on the grade you’re chasing, not just how many were originally struck.

Whether you have a common date or a rare variety, our Coin Identifier and Value App can provide instant assessment and current market valuations for your specific coin.

 

Key Features of The 1935 Wheat Penny

Knowing what to look for on your coin is step one. Here’s a quick tour of both sides.

The Obverse Of The 1935 Wheat Penny

Flip your coin to the front. You’ll see Lincoln facing right in a suit and bow tie. IN GOD WE TRUST arches across the top, LIBERTY sits to Lincoln’s left, and the date 1935 appears to his right.

Now look just below the date. That’s where the mint mark lives — a small “D” for Denver or “S” for San Francisco. No letter? That’s Philadelphia.

The Reverse Of The 1935 Wheat Penny

Flip it over. Two curving wheat ears frame the center — that’s where the nickname comes from. E PLURIBUS UNUM arches across the top, with ONE CENT and UNITED STATES OF AMERICA stacked in the center.

Other Features Of The 1935 Wheat Penny

The coin measures 19.00 millimeters across, weighs 3.11 grams, and has a plain (smooth) edge. The composition is 95% copper and 5% tin and zinc — collectors often call it “bronze.”

The detail most beginners miss is the color designation. This matters enormously for uncirculated coins. PCGS and NGC assign one of three labels: RD (Red) means 95%+ original copper color remains; RB (Red-Brown) means 5–95% red; and BN (Brown) means less than 5% red. To put it in dollar terms: a 1935-S graded MS65 RD can sell for $150–$200, while the exact same coin in MS65 BN typically brings only $40–$60. Same grade, huge price gap.

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

 

1935 Wheat Penny Mintage & Survival Data

Philadelphia cranked out 245,388,000 pennies in 1935. Out of all those coins, roughly 12,500 survive in collectible condition today. That’s a survival rate of just 0.0051% — about 1 out of every 19,600 coins.

Denver fared slightly better with around 6,400 survivors from its 47,000,000 mintage. San Francisco tells the most dramatic story: 38,702,000 struck, only about 4,200 still around in collectible grades — a 0.0109% survival rate. Depression-era circulation was brutal on copper cents.

That’s why even a small grade difference — say MS65 versus MS67 — can mean a tenfold jump in price. The coins just aren’t there in those top grades.

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

 

The Easy Way to Know Your 1935 Wheat Penny Value

Focus on three areas when grading: the sharpness of Lincoln’s hair strands, the definition along his jawline, and the crispness of the wheat stalks on the reverse. Coins range from Good (G-4) — features mostly flat from heavy wear — all the way up to Mint State (MS) with zero wear.

PCGS has certified only 2 examples of the 1935 Philadelphia cent at MS68. That’s it. Many 1935-D and 1935-S pennies also show weaker strikes from worn-out dies, so a well-struck example from either branch mint carries an extra premium. I think the strike quality on Denver coins is underappreciated — sharp ones are out there if you look.

For a quick, accurate check on any coin in your collection, the Coin Identifier and Value App can identify value and detect potential errors in seconds using your smartphone camera.

 

1935 Wheat Penny Value Guides

Three mints, three varieties, three different value tracks. Here’s what each one is worth.

1935 Wheat Penny Varieties:

• 1935 No Mint Mark (Philadelphia) — highest production, ~245.4 million struck
• 1935-D (Denver) — moderate scarcity, ~47 million struck
• 1935-S (San Francisco) — lowest mintage, ~38.7 million struck, most desirable in high grades

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

 

1935 No Mint Mark Wheat Penny Value

$84,000 for a penny with no mint mark. That’s the record for a PCGS MS68 Red Philadelphia example — and it proves that “common date” doesn’t mean “cheap” at the top of the grading scale.

Philadelphia struck over 245 million of these in 1935, making them the most available variety by far. Circulated examples in lower grades sit around 20 cents. Nothing exciting there. But the strike quality on Philly coins from this year tends to be excellent — by the mid-1930s, the mint had its process dialed in. That sharpness is exactly what registry set collectors chase.

A separate MS68+ Red CAC-approved example achieved $34,075 at auction in 2018. We think the Philly coins are underrated compared to the branch mints — the supply dries up fast once you get above MS66 Red.

Here’s how recent auction results have played out for this variety.

The market activity chart below shows how collector demand has tracked over time.

Market activity score: 63/100 as of Sep 2026 — up 5 points from Jun 2026. 12-month peak: 81 (Aug 2026).

 

1935-D Wheat Penny Value

What’s the most a 1935-D has ever sold for? Just $4,320 — for a Brown (BN) example graded MS67+ by PCGS, sold at Heritage Auctions on January 19, 2025. Compare that to $84,000 for the Philly coin and $23,000 for the San Francisco. The Denver issue is the middle child of this series, and it’s priced accordingly.

Denver struck 47,000,000 pennies in 1935, roughly one-fifth of Philadelphia’s output. The mountain region was dealing with both the Depression and the Dust Bowl, so these coins saw hard use. Some 1935-D examples show soft strikes from tired dies, which means a well-struck piece stands out. A separate MS67+ Red example brought $4,080 at Heritage Auctions in 2018.

If you’re building a set on a budget, the 1935-D gives you a branch-mint coin without the premium the S-mint commands. Circulated pieces run about the same as the other varieties — pocket change money.

Here are the documented auction results across different grades.

The chart below tracks monthly market activity for the 1935-D over the past year.

Market activity score: 49/100 as of Sep 2026 — up 3 points from Jun 2026. 12-month peak: 71 (Dec 2025).

 

1935-S Wheat Penny Value

Lowest mintage of the three. Hardest to find in high grades. Most expensive at the top. The 1935-S checks every box collectors care about.

San Francisco struck 38,702,000 pennies that year. These coins circulated heavily through West Coast agriculture and port towns, and most got beat up badly. In circulated grades, you’re looking at 10 cents to $6.50 — nothing special. But jump to uncirculated and the numbers climb fast: $11 or more at MS63, and the record-setting PCGS MS67 Red example commanded $23,000. For higher-grade certified specimens in MS67 Red, values regularly reach $7,500 and above.

Only about 4,200 survive in collectible grades out of nearly 39 million struck. That scarcity is real, and it shows up in every price guide.

Auction records show how aggressively collectors pursue this variety.

The chart below shows how demand for the 1935-S has tracked over the last twelve months.

Market activity score: 58/100 as of Sep 2026 — up 11 points from Jun 2026. 12-month peak: 73 (Oct 2025).

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

 

Rare 1935 Wheat Penny Error List

1930s minting equipment was far less automated than what’s used today. That means more errors slipped through — and more varieties for you to cherrypick. Here are the main ones to check for on your 1935 wheat penny.

1. 1935 Wheat Penny DDO FS-101 (Doubled Die Obverse)

This is the big one. A Doubled Die Obverse (DDO) happens when the hub impresses the die at two slightly different angles. Every coin struck by that die carries the same doubling — it’s a true variety, not random damage.

On the 1935 DDO FS-101, look at IN GOD WE TRUST and LIBERTY first. You may also spot a faint secondary impression around Lincoln’s eye. The key diagnostic: genuine doubling looks raised and rounded. If it’s flat and shelf-like, that’s mechanical doubling from a loose die — worth nothing extra.

Authenticated 1935 DDO examples typically sell for $50 to $250 in circulated grades. Grab a 5x or 10x loupe and check under strong lighting.

2. 1935 Wheat Penny DDR (Doubled Die Reverse)

The Doubled Die Reverse (DDR) shows up on the back of the coin — look at the wheat stalks, E PLURIBUS UNUM, and the denomination lettering. Several DDR varieties exist for 1935.

WDDR-001 and WDDR-003 show the clearest doubling under magnification. These are harder to find in the marketplace than the DDO and can bring $50 to $300 depending on doubling strength and overall condition.

3. 1935 Wheat Penny RPM (Repunched Mint Mark)

Back in the 1930s, mint marks were punched into dies by hand. Sometimes the punch landed twice at slightly different angles, leaving a doubled or offset letter on the coin. Both 1935-D and 1935-S RPM varieties exist.

These are budget-friendly errors. Most sell for $3 to $10 in circulated grades. Cherrypickers love hunting for these in rolls and junk bins — they’re easy to miss if you’re not looking.

4. 1935 Wheat Penny Off-Center Strike

An off-center strike means the planchet shifted before the dies came together, leaving a blank crescent on one side. Less automated feeding mechanisms in the 1930s made this more common than you’d see today.

Value depends on two things: how far off-center, and whether the date is still visible. Examples with 10% or more misalignment and a readable date typically sell for $10 to $100+. Extreme strikes beyond 50% off-center with a clear date can go even higher.

5. 1935 Wheat Penny BIE Die Break

This is a fun one for beginners. The BIE variety is a small die crack between the “B” and “E” in LIBERTY that creates what looks like a tiny letter “I” between them. It shows up across many wheat penny years.

BIE examples from 1935 are relatively easy to find. Most sell for $5 to $20, though a really dramatic break might bring a bit more. A great first error coin to hunt for.

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

 

Where To Sell Your 1935 Wheat Penny?

Circulated examples in lower grades move easily on eBay or at local coin shops, though dealers typically pay 60–80% of market value.

For coins worth $500 or more — high-grade pieces or confirmed errors — major auction houses like Heritage Auctions, Stack’s Bowers, or GreatCollections will reach the most serious buyers. Always get PCGS or NGC certification first for any coin you think is worth $100 or more. It protects authenticity and almost always gets you a higher final price.

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

 

1935 Wheat Penny Market Trend

Market interest: 10,480 collectors tracking this coin as of Sep 2026 — up 900 from Mar 2026. 12-month peak: 12,030 (Feb 2026).

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

 

FAQ About The 1935 Wheat Penny Value

1. What makes a 1935 Wheat Penny valuable?

Three things: condition (grade), color designation, and errors. A heavily worn coin is worth 10–35 cents. An uncirculated example with full original copper-red luster (RD) can be worth dramatically more — the PCGS MS68 Red Philadelphia example holds the record at $84,000. Verified error coins like the DDO FS-101 bring $50 to $250 or more even in circulated grades.

2. Are 1935 pennies rare?

In circulated grades, no. Over 330 million were struck across three mints. But at the top of the grading scale? Absolutely. PCGS has certified only 2 examples of the 1935 Philadelphia penny at MS68. Finding a fully original Red example in MS66 or above is a real challenge.

3. What were pennies made of in 1935?

95% copper and 5% tin and zinc — that warm orange-red tone when freshly struck. The copper composition stayed the same throughout the 1930s. The wartime steel cent didn’t appear until 1943. There is no steel 1935 penny.

4. What do the color designations RD, RB, and BN mean on a 1935 Wheat Penny?

PCGS and NGC assign these based on how much original copper color remains. RD (Red) means 95%+ original mint luster — the most valuable. RB (Red-Brown) means 5–95% red mixed with brown oxidation. BN (Brown) means less than 5% red remains.

The price difference is huge. A 1935-S graded MS65 RD may sell for $150–$200, while the same coin in MS65 BN typically brings only $40–$60.

5. Where exactly is the mint mark on a 1935 Wheat Penny?

On the obverse (front), directly below the date “1935.” A small “D” means Denver, a small “S” means San Francisco. Philadelphia coins have no mint mark at all. Grab a loupe and check — it takes two seconds.

6. How does the 1935-D compare to the 1935-S in value?

In circulated grades, they’re close — both typically trade for 10 cents to $6.50. The gap opens up in high Mint State grades. The 1935-S tops out with an MS67 Red record of $23,000, while the 1935-D record is $4,320 for an MS67+ Brown (BN) coin at Heritage Auctions in 2025. Lower mintage means fewer high-grade survivors for the S-mint, and that drives the premium.

7. What is the 1935 Wheat Penny DDO FS-101 variety?

The DDO FS-101 is the most prominent doubled die obverse variety for the 1935 Lincoln cent. “FS” stands for Fivaz-Stanton, the reference system cataloging recognized varieties.

Doubling shows most clearly in IN GOD WE TRUST and LIBERTY, and may also appear around Lincoln’s eye. Look for raised, rounded doubling — not flat mechanical damage. Authenticated circulated examples typically sell for $50–$250.

8. Should I clean my 1935 Wheat Penny before selling it?

No. Never. Cleaning a coin permanently destroys its numismatic value. Even a light soap rinse leaves microscopic hairlines visible under a grader’s loupe. PCGS and NGC both downgrade cleaned coins to “details” status, which tanks the value. A cleaned MS65 might sell for less than an untouched MS63. Store your coins in acid-free flips and keep abrasives far away.

9. How do I get my 1935 Wheat Penny graded by PCGS or NGC?

Both services accept submissions through their websites or through authorized dealers. Basic tiers run $20 to $50 per coin. Walk-through services at major coin shows can be faster.

Before paying for grading, use the Coin Identifier and Value App to get a preliminary estimate. Professional certification generally only makes sense if your coin is likely worth $100 or more — the grading fee needs to be offset by the value bump a slabbed coin gets.

10. Can 1935 Wheat Pennies still be found in circulation or coin rolls?

Rare, but it happens. Wheat pennies still turn up in bank rolls, estate jars, and change from older machines. Over 330 million were struck in 1935, so more survived into the 21st century than you’d expect.

Your best bets are unsearched bank rolls, estate sale coin jars, and inherited collections. Don’t skip the worn ones — flip them over and check for doubling on the reverse, then look below the date for a mint mark. Takes seconds and could turn up something worth real money.