1935 Lincoln Wheat Cent Value Guide (P, D, S Mint)
1935 penny values range from $0.15 for circulated coins to $84,000 for top-grade MS-68+ examples. Discover prices for all three mints, plus key varieties and errors.
The 1935 Lincoln Wheat Cent is worth $0.15 to $84,000 depending on mint mark, grade, and strike quality.
- Circulated (all mints): $0.15 – $10
- Uncirculated: $8 – $600 (typical grades)
- Superb gems: $4,000 – $84,000 (MS-67+ to MS-68+)
- Key varieties: $25 – $425 (1935 DDO FS-101)
With over 331 million struck, 1935 cents are common in circulated grades but become exponentially rare in top mint state condition with full red color and sharp strikes.
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1935 Lincoln Wheat Cent: Overview and Significance
The 1935 Lincoln Wheat Cent features Victor D. Brenner's iconic design.
The 1935 Lincoln Wheat Cent represents a fascinating study in conditional rarity. Struck during the sixth year of the Great Depression, the combined mintage from Philadelphia, Denver, and San Francisco exceeded 331 million coins—making it one of the most common dates in the entire series (1909-1958) in circulated grades. However, this massive production masks an extreme scarcity at the superb gem level, where a single 1935 Philadelphia cent graded MS-68+RD realized $84,000 at Heritage Auctions in January 2025.
The value equation for 1935 cents is driven not by mintage but by strike quality, surface preservation, and original color—particularly for the Denver and San Francisco issues, which are notorious for weak, mushy strikes from worn dies. This guide provides comprehensive pricing for all three mints, covering grades from Good-4 through MS-68+, plus detailed information on collectible die varieties, mint errors, and authentication protocols.
How to Identify Your 1935 Lincoln Wheat Cent
Mint marks D and S appear below the date on the obverse.
All 1935 Lincoln Wheat Cents share the same basic design created by Victor David Brenner. The obverse features Lincoln's bust facing right, with the motto IN GOD WE TRUST above, LIBERTY to the left, and the date 1935 to the right. The reverse displays two wheat stalks framing the denomination ONE CENT and the nation's name UNITED STATES OF AMERICA, with the motto E PLURIBUS UNUM across the top.
Mint Mark Identification: The mint mark, if present, appears on the obverse below the date. Three variations exist for 1935:
- No mint mark: Philadelphia Mint (245,388,000 minted)
- D: Denver Mint (47,000,000 minted)
- S: San Francisco Mint (38,702,000 minted—the lowest mintage of the year)
The physical specifications are identical for all three mints: 95% copper and 5% tin and zinc composition, 3.11 grams weight, 19.00 millimeters diameter, and plain edge. All 1935 cents are business strikes—the U.S. Mint produced zero proof cents in 1935, as regular proof coinage had ceased after 1916 and would not resume until 1936.
Strike Quality Differences: Philadelphia issues typically exhibit full, sharp strikes with crisp detail. In contrast, both Denver and San Francisco cents are frequently found with deficient strikes—a characteristic specifically noted in official ANA grading standards. The weak strikes show mushy details on Lincoln's hair, coat, and the wheat stalks. A fully struck 1935-D or 1935-S commands a substantial premium over the typical weakly struck example, even at the same numerical grade.
1935 Lincoln Wheat Cent Price Guide
Values vary dramatically based on mint mark, grade, color designation, and—critically for Denver and San Francisco issues—strike quality. The following tables reflect retail market values for coins with typical strike characteristics for each mint. Well-struck branch mint coins command premiums above these guide prices.
1935 (Philadelphia—No Mint Mark)
The Philadelphia issue is the most common, with over 245 million struck. It becomes scarce in MS-66, rare in MS-67, and exceptionally rare in MS-68. As of November 2025, PCGS records only three examples in MS-68+RD grade.
| Grade | BN (Brown) | RB (Red-Brown) | RD (Red) |
|---|---|---|---|
| G-4 | $0.15 – $0.30 | $0.15 – $0.30 | — |
| F-12 | $0.20 – $0.50 | $0.20 – $0.50 | — |
| VF-20 | $0.35 – $0.75 | $0.40 – $1.00 | — |
| EF-40 | $1.00 – $2.00 | $1.50 – $3.00 | — |
| AU-50 | $3.00 – $5.00 | $4.00 – $6.00 | $5.00 – $8.00 |
| MS-60 | $5.00 – $8.00 | $6.00 – $10.00 | $8.00 – $12.00 |
| MS-63 | $8.00 – $12.00 | $10.00 – $15.00 | $18.00 – $22.00 |
| MS-64 | $12.00 – $16.00 | $15.00 – $20.00 | $20.00 – $25.00 |
| MS-65 | $18.00 – $25.00 | $22.00 – $30.00 | $31.00 – $45.00 |
| MS-66 | $30.00 – $45.00 | $40.00 – $60.00 | $60.00 – $90.00 |
| MS-67 | $90.00 – $150.00 | $120.00 – $175.00 | $220.00 – $400.00 |
| MS-68 | $1,500 – $2,500 | $2,000 – $3,500 | $4,800 – $8,000 |
| MS-68+ | — | — | $60,000 – $85,000 |
Top Auction Results: An MS-68+RD example sold for $84,000(Heritage Auctions, January 2025). Another MS-68+RD realized $55,813 (Legend Auctions, September 2022).
1935-D (Denver)
With 47 million struck, the 1935-D is common in circulated grades but notorious for weak strikes. Standard price guide values apply to coins with the typical deficient strike. Fully struck examples—characterized by sharp details on Lincoln's hair and complete separation of wheat lines—command 50-100% premiums or more depending on grade.
| Grade | BN (Brown) | RB (Red-Brown) | RD (Red) |
|---|---|---|---|
| G-4 | $0.15 – $0.30 | $0.15 – $0.30 | — |
| F-12 | $0.20 – $0.50 | $0.20 – $0.50 | — |
| VF-20 | $0.35 – $0.75 | $0.40 – $1.00 | — |
| EF-40 | $0.75 – $1.50 | $1.00 – $2.00 | — |
| AU-50 | $2.00 – $4.00 | $3.00 – $5.00 | $6.00 – $10.00 |
| MS-60 | $5.00 – $7.00 | $6.00 – $9.00 | $12.00 – $15.00 |
| MS-63 | $8.50 – $12.00 | $12.00 – $16.00 | $20.00 – $25.00 |
| MS-64 | $11.50 – $15.00 | $15.00 – $22.00 | $25.00 – $35.00 |
| MS-65 | $17.50 – $25.00 | $25.00 – $35.00 | $45.00 – $60.00 |
| MS-66 | $25.00 – $35.00 | $35.00 – $50.00 | $65.00 – $90.00 |
| MS-67 | $150.00 – $225.00 | $200.00 – $300.00 | $450.00 – $600.00 |
| MS-67+ | $400 – $600 | $700 – $1,100 | $2,000 – $4,500 |
| MS-68 | — | — | $15,000+ |
Top Auction Results: An MS-67+RD example sold for $4,320(Heritage Auctions, January 2025). The value for this grade has tripled since 2021, when a similar coin brought $1,320.
1935-S (San Francisco)
The 1935-S has the lowest mintage of the year at 38,702,000 pieces. Like the Denver issue, weak strikes are the norm. The San Francisco cent is described as "nearly impossible to find" in very highest grades. Strike quality and eye appeal create dramatic value differences even within the same technical grade.
| Grade | BN (Brown) | RB (Red-Brown) | RD (Red) |
|---|---|---|---|
| G-4 | $0.15 – $0.35 | $0.15 – $0.35 | — |
| F-12 | $0.25 – $0.60 | $0.30 – $0.75 | — |
| VF-20 | $0.50 – $1.00 | $0.75 – $1.50 | — |
| EF-40 | $1.00 – $2.50 | $2.00 – $4.00 | $4.00 – $8.00 |
| AU-50 | $4.00 – $7.00 | $6.00 – $10.00 | $12.00 – $18.00 |
| MS-60 | $8.00 – $12.00 | $10.00 – $15.00 | $18.00 – $25.00 |
| MS-63 | $15.00 – $25.00 | $20.00 – $35.00 | $50.00 – $65.00 |
| MS-64 | $25.00 – $40.00 | $35.00 – $55.00 | $65.00 – $85.00 |
| MS-65 | $40.00 – $65.00 | $50.00 – $80.00 | $90.00 – $120.00 |
| MS-66 | $100.00 – $175.00 | $150.00 – $250.00 | $400.00 – $550.00 |
| MS-67 | $1,000 – $1,800 | $1,500 – $2,500 | $6,000 – $8,000 |
| MS-67+ | $3,000 – $5,000 | $4,000 – $7,000 | $5,000 – $23,000 |
Top Auction Results: An MS-67+RD example sold for $18,000(Heritage Auctions, January 2025). Notably, another MS-67+RD sold for only $5,040 just one month earlier in December 2024. This 350% price discrepancy between identically graded coins reflects the critical importance of strike quality and eye appeal—the $18,000 coin exhibited the rare full strike and pristine surfaces that Registry Set collectors demand.
Grading 1935 Lincoln Wheat Cents
Grade progression from heavily worn Good-4 to gem Mint State-65.
Accurate grading of 1935 cents requires understanding both circulated wear patterns and mint state quality factors. The 70-point numerical scale ranges from Poor-1 (barely identifiable) to MS-70 (perfect), with circulated grades from Good-4 through About Uncirculated-58, and mint state grades from MS-60 through MS-70.
Circulated Grade Diagnostics
Good-4 (G-4): Heavy wear with date barely visible and rim worn into letters. Lincoln's features are flat with no detail. Wheat stalks show minimal definition.
Very Good-8 (VG-8): Date fully readable. Lincoln's ear and hairline visible but worn smooth. About half the detail visible on wheat stalks.
Fine-12 (F-12): Moderate wear with major design elements clear. Lincoln's cheek and jaw show wear but maintain some contour. Most wheat lines visible with moderate separation.
Very Fine-20 (VF-20): Light to moderate wear on high points. Lincoln's cheek and jawbone show wear but retain detail. Wheat stalks have good definition with clear separation between lines.
Extremely Fine-40 (EF-40): Only slight wear on highest points: Lincoln's cheek, jawbone, and hair above ear. Nearly full detail on wheat stalks. Original mint luster may be visible in protected areas.
About Uncirculated-50/55/58 (AU): Trace of wear on highest points only. Partial to nearly full mint luster present. The distinction between grades is the amount of luster remaining.
High points show wear first: Lincoln's cheek and wheat stalk tops.
Mint State Quality Factors
Color designations dramatically affect value on copper coins.
Mint state 1935 cents are evaluated on four critical factors: luster, strike, surface preservation, and color.
Luster: The "cartwheel effect"—a rotating sheen visible when tilting the coin under light. Original luster results from microscopic flow lines created during striking. Loss of luster typically indicates cleaning or wear.
Strike quality is critical for 1935-D and 1935-S values.
Strike Quality: For Philadelphia cents, full strikes are typical. For Denver and San Francisco issues, strike quality varies dramatically. A weak strike shows mushy, indistinct details on Lincoln's hair, coat lines, and wheat stalks. A sharp strike exhibits crisp hair strands, well-defined coat folds, and complete separation of wheat lines. Strike quality can double or triple value for branch mints.
Surface Preservation: Mint state grades from MS-60 through MS-70 are differentiated primarily by contact marks—small nicks and abrasions from coin-to-coin contact in mint bags. MS-60 to MS-62 show numerous marks visible to the naked eye. MS-63 to MS-64 have moderate marks, fewer and less distracting. MS-65 to MS-66 exhibit minimal marks requiring magnification to see. MS-67 to MS-70 are essentially mark-free with exceptional eye appeal.
Color Designations for Copper: Mint state copper cents receive color modifiers based on the percentage of original mint-red color remaining. RD (Red) = 95%+ original red; RB (Red-Brown) = 5-95% red; BN (Brown) = less than 5% red. Original red coins command significant premiums. Cleaned coins often display an unnatural harsh pinkish-orange color rather than the proper deep red-gold hue.
Authentication and Counterfeit Detection
Cleaned coins show hairlines and unnatural color versus original luster.
For 1935 Lincoln Cents, particularly high-grade examples and valuable varieties, two primary threats exist: added or altered mint marks and spark-erosion counterfeits.
Added or Altered Mint Marks: The most common alteration involves adding a "D" or "S" mint mark to a common Philadelphia cent to create a more valuable Denver or San Francisco issue. Detection requires 10x to 30x magnification focused on the area surrounding the mint mark. A genuine mint mark should exhibit the same luster, toning, and surface texture as the surrounding field—it should be "of the coin." An added mint mark often shows a "halo" of disturbed luster, a change in toning pattern, or microscopic traces of adhesive around its edges. Additionally, verify the mint mark style matches the correct Mint Mark Style (MMS) used in 1935 for each mint.
Spark-Erosion Counterfeits: This sophisticated counterfeiting method uses electrical discharge to create a die from a genuine host coin. The process leaves a characteristic porous or "pimply" texture on the resulting die, which transfers to counterfeit coins. Under magnification, look for tiny pits or porous surfaces in protected, recessed areas such as the devices (Lincoln's bust, lettering, date). Counterfeiters often polish the die's raised areas (which create the coin's fields), resulting in fields that appear unnaturally smooth and "dead" while devices show porosity—the opposite of a genuine coin's texture.
Cleaning Detection: The most destructive and common problem for bronze cents is improper cleaning. Abrasive cleaning leaves microscopic parallel scratches (hairlines) running across the coin's surface, destroying the original flow lines that create mint luster. Chemical cleaning or "dipping" strips the coin's original toned surface, leaving a harsh, unnatural pinkish-orange color. Both problems result in a "Details" grade from certification services (e.g., "AU Details—Improperly Cleaned") which dramatically reduces value. Some cleaned coins are artificially retoned to hide the cleaning, resulting in unnatural bright colors (splotchy blues, purples) sitting atop a lifeless, lusterless surface.
For coins valued above $100, professional authentication and grading by PCGS or NGC is strongly recommended. Third-party certification provides expert authentication, accurate grading, and tamper-evident holders that protect the coin and maintain its condition.
Preserving Your 1935 Lincoln Cents
Copper is among the most chemically reactive metals used in coinage, making proper preservation essential to maintain condition and value. Following these protocols protects your investment.
Handling: Never handle coins with bare hands. Oils and acids from human skin will permanently etch fingerprints onto copper surfaces. Use cotton or powder-free nitrile gloves, or hold coins only by their edges. Do not talk directly over unencapsulated coins—microscopic saliva droplets are acidic and cause permanent dark "carbon spots" on copper.
Storage Environment: Store coins in a cool, dry, dark, and stable environment. Ideal temperature is 65–70°F (18–21°C) with low, stable humidity. Avoid temperature swings and damp conditions. Use rechargeable silica gel desiccants in safes or storage cabinets to control moisture. Keep coins away from heat sources, direct sunlight, and areas with chemical fumes.
Holders—Critical Rules: DO NOT USE PVC. Many soft, flexible plastic flips contain polyvinyl chloride (PVC), which degrades over time and leaches plasticizers that form hydrochloric acid. This creates a sticky green residue that permanently damages and corrodes copper surfaces. Safe options include: archival-quality, acid-free and sulfur-free paper envelopes; 2×2 cardboard flips with Mylar (polyester) windows, which is inert and stable; and hard plastic holders made from acrylic or other inert materials. Third-party graded holders (slabs) from PCGS, NGC, and ANACS provide optimal protection, being sonically sealed in an inert environment.
The Absolute Rule on Cleaning: Never clean numismatic coins. Any attempt to "improve" appearance using commercial polishes, vinegar solutions, baking soda, or other methods will abrade or strip the original surface, destroy numismatic value, and result in a Details grade from certification services. A properly preserved original coin, even with toning or minor tarnish, is always more valuable than a cleaned coin.
Collectible Die Varieties of 1935 Lincoln Cents
The 1935 DDO FS-101 shows strong doubling on IN GOD WE TRUST and the date.
Die varieties occur when imperfections in the die-making process result in doubled, tripled, or repunched design elements. These manufacturing errors create collectible varieties that command premiums. The 1935 issue includes several recognized varieties across all three mints.
1935 (Philadelphia) Doubled Die Obverse FS-101
This is the most significant and popular variety for the entire 1935 issue. Officially cataloged as FS-101 (Fivaz-Stanton) and CONECA DDO-001, this Class V Pivoted Hub doubled die exhibits strong, easily visible doubling.
Diagnostics: Look for clear clockwise spread on the motto IN GOD WE TRUST and strong doubling on the date digits, particularly the "9" and "5" in 1935. The doubling is visible to the naked eye on well-struck examples and dramatic under magnification.
Values: Circulated examples range from $25 to $80 depending on grade. Certified mint state examples bring substantial premiums: PCGS MS-63 BN approximately $350; PCGS MS-6X RD (per PCGS Price Guide) $425.
1935-D Doubled Die Reverse WDDR-001
This variety is designated the "Best Of" reverse doubled die for the 1935-D and is cataloged as WDDR-001 (Wexler) and CONECA 1-R-VI. Unlike typical doubled dies that show separated doubled images, this Class VI Distended Hub variety manifests as extremely strong extra thickness rather than separation.
Diagnostics: The thickness is most prominent on: the letters E, P, and U in E PLURIBUS UNUM; the two dots separating the motto; both wheat ears and stems; the letters ERICA in AMERICA; and the upper portions of ONE. Authentication can be confirmed by die markers: on the obverse, a die scratch running northwest to southeast above and left of Lincoln's eye, plus a die crack on the lower front of the bust; on the reverse, a small die gouge (dot) just right of center of the U in UNITED.
Values: Circulated examples range from $15 to $51. Gem mint state examples of this "Best Of" variety command several hundred dollars.
1935-D Repunched Mintmarks (RPMs)
Two recognized repunched mintmark varieties exist for the Denver issue. Note that the variety formerly listed as RPM-001 has been delisted by both CONECA and John Wexler after re-examination determined it was punch damage, not a true RPM.
RPM-002 (D/D North): Shows an extra lower horizontal line in the middle of the "D" mintmark. Values: F-12 = $5; MS-63 = $50; MS-65 = $75.
RPM-003 (D/D West): Displays a very thin, obscure extra vertical line on the west (left) side of the primary "D." Values: F-12 = $5; MS-63 = $50; MS-65 = $75.
1935-S Repunched Mintmarks (RPMs)
Three recognized RPM varieties exist for the San Francisco issue, all showing secondary impressions of the "S" mintmark in various positions.
RPM-001 (S/S North): The most prominent 1935-S RPM. Can be authenticated by die gouges under the "T" in LIBERTY and a die crack extending from the "O" of ONE north to the rim. A raw uncirculated (BU) example has a retail value of approximately $40. Circulated examples range from $7 to $10.
RPM-002 and RPM-003 (both S/S West): Less prominent varieties with the secondary "S" impression to the west of the primary mintmark. Values are similar to other minor RPMs in the $5-$50 range depending on grade.
Mint Errors on 1935 Lincoln Cents
Mint errors result from problems during the striking process or planchet preparation. Unlike die varieties (which affect multiple coins from the same die), each mint error is unique. Values depend on the error's type, severity, and eye appeal.
Off-Center Strikes
This error occurs when the planchet is not properly seated in the collar and is struck off-center by the dies. The resulting coin shows part of the design missing with a blank, curved crescent area. Value is directly proportional to how far off-center the coin is struck, with a significant premium if both the date and mintmark remain fully visible on the struck portion.
Values: Minor (5-10% off-center): $10 – $20; Moderate (15-25% off-center): $40 – $100; Major (40-60% off-center): $300 – $400+. Dramatic off-center strikes approaching 70-90% can bring significantly higher prices, particularly when certified.
Lamination Errors
Lamination errors are a common planchet defect in bronze coins. Impurities in the copper alloy cause the metal to separate and peel from the surface in layers. Minor, small laminations are common and add little value. However, a dramatic lamination error—where a large flap of metal is peeled back but still attached to the planchet—creates a visually striking piece.
Values: Minor laminations have minimal premium. Dramatic laminations with large, attached metal flaps can be worth $30 to $80 when certified by NGC or PCGS.
Die Breaks: BIE Errors
"BIE" errors result from a small, specific die chip that forms between the letters "B" and "E" in LIBERTY, making it appear as "LIBIE RTY." This particular die chip location is common throughout the Lincoln Cent series and has become a popular variety to collect.
Values: $5 – $15 depending on grade and clarity of the die chip.
Die Breaks: Major Cuds
A cud is a major die break where a piece of the die completely breaks off from the rim edge. When the planchet is struck, coin metal flows into this void in the die, creating a raised, unstruck blob of metal on the finished coin—typically along the rim. The size, location, and eye appeal of the cud determine value.
Values: A 1935 Lincoln Cent with a major, dramatic cud would be a valuable error piece. Generic "massive" cud Lincoln Cents are valued in the $295 – $380 range. Date-specific examples with documentation and certification can command higher prices depending on the cud's size and visual impact.
Frequently Asked Questions
How much is my 1935 penny worth?
A 1935 penny's value ranges from $0.15 for heavily worn examples to over $80,000 for superb gems. Most circulated 1935 cents are worth between $0.15 and $5. Mint state examples range from $8 (MS-60) to hundreds or thousands of dollars for high-grade pieces. The key value factors are mint mark (Philadelphia, Denver, or San Francisco), grade, color designation (Red, Red-Brown, or Brown), and—critically for Denver and San Francisco issues—strike quality.
What makes the 1935 cent valuable despite high mintage?
The 1935 Lincoln Cent demonstrates "conditional rarity"—it's extremely common in circulated grades but exponentially rare in superb gem condition. With over 331 million struck, countless examples survived in lower grades. However, the survival rate of pristine, fully struck specimens with original red color is minuscule. For branch mints, weak strikes from worn dies are the norm, making sharply struck examples significant rarities. This creates the paradox where a "common date" can sell for $84,000 in MS-68+ grade.
How do I identify the mint mark on my 1935 penny?
The mint mark appears on the obverse (front) below the date. If no mint mark is present, the coin was struck at the Philadelphia Mint. A small "D" indicates Denver Mint production, while an "S" indicates San Francisco Mint. The mint mark is a small letter typically 1-2 millimeters in size and may require magnification to read clearly, particularly on worn coins. Be cautious of added or altered mint marks on valuable varieties—genuine mint marks should match the surrounding field in luster, toning, and surface texture.
Should I get my 1935 penny professionally graded?
Professional grading is recommended for: mint state examples grading MS-64 or higher; coins with valuable die varieties like the 1935 DDO FS-101; branch mint coins (1935-D, 1935-S) with exceptional strike quality; and any coin you believe may be worth over $100. Third-party certification by PCGS or NGC provides expert authentication, accurate grading, tamper-evident holders, and typically improves marketability. For common circulated examples worth under $10, the certification fee exceeds the coin's value.
What's the difference between Red (RD), Red-Brown (RB), and Brown (BN)?
These color designations apply only to copper and bronze coins in mint state condition. Red (RD) means the coin retains 95% or more of its original mint-red color—a deep, rich red-gold hue. Red-Brown (RB) indicates 5-95% original red color mixed with brown toning. Brown (BN) means less than 5% red remains, with the coin primarily showing brown patina. Color dramatically affects value—RD coins command significant premiums over RB, which in turn are worth more than BN examples of the same grade. Be wary of coins with harsh, unnatural pinkish-orange color, which typically indicates chemical cleaning rather than original red surfaces.
How should I clean my 1935 penny?
Never clean numismatic coins. Any cleaning—whether with commercial polishes, vinegar, baking soda, erasers, or other methods—will damage the coin's original surface, destroy its numismatic value, and result in a Details grade from professional grading services. Cleaning removes the microscopic "flow lines" that create original mint luster and leaves permanent hairline scratches or chemically altered surfaces. A properly preserved original coin, even with toning or minor tarnish, is always more valuable than a cleaned coin. If a coin requires conservation, only expert conservators trained in numismatic preservation should perform the work.
Why do some 1935-D and 1935-S cents have weak strikes?
The Denver and San Francisco Mints in 1935 produced cents from dies that were used until excessively worn. This is documented in official ANA grading standards, which specifically note that 1935-D and 1935-S cents are "often seen poorly struck from worn dies." The result is mushy, indistinct details on Lincoln's hair and coat, and incomplete separation of the wheat stalk lines. This was so widespread that weak strikes are considered typical for these issues. A fully struck 1935-D or 1935-S with sharp, crisp details is a significant rarity that commands substantial premiums—often 50-100% or more above guide prices for the same numerical grade with typical weak strike.
What is the 1935 DDO FS-101 variety?
The 1935 DDO FS-101 is the most significant die variety for the entire 1935 issue. It's a Class V Pivoted Hub doubled die obverse showing strong, easily visible doubling on the motto IN GOD WE TRUST and the date digits (particularly the "9" and "5"). This variety is popular among collectors because the doubling is dramatic and visible without magnification on well-struck examples. Values range from $25-$80 for circulated specimens to over $400 for certified mint state examples in Red condition. It's listed in major references as FS-101, CONECA DDO-001, and Variety Vista 1-O-V-CW.
Is the copper in 1935 pennies worth saving?
Yes. The intrinsic copper value of a 1935 Lincoln Cent is approximately $0.033 (3.3 cents) as of November 2025, based on a copper spot price of $5.08 per pound. This is over 300% of the coin's face value, which has led to widespread public hoarding of pre-1982 copper cents for their bullion content. However, melting U.S. cents is currently illegal. The bullion value provides a floor price—even the most common, heavily worn 1935 cents are worth at least their copper content. For numismatic purposes, virtually all 1935 cents have collector value exceeding their melt value, so they should be preserved as collectibles rather than bullion.
What are the physical specifications of the 1935 Lincoln Cent?
All 1935 Lincoln Cents share these specifications: Composition—95% copper, 5% tin and zinc (bronze); Weight—3.11 grams; Diameter—19.00 millimeters; Edge—Plain (smooth, not reeded); Designer—Victor David Brenner (both obverse and reverse). These specifications were standard for the Lincoln Cent from 1909 through 1942 (when composition changed due to World War II metal shortages) and again from 1947-1962. All 1935 cents are business strikes—the U.S. Mint produced zero proof cents in 1935.
Recent Auction Results
Recent auction results demonstrate the strong market for top-quality 1935 Lincoln Cents, particularly for superb gem examples and fully struck branch mint specimens. These results confirm that condition rarity drives value far more than mintage figures.
1935 (Philadelphia) Top Results:
- MS-68+RD: $84,000(Heritage Auctions, January 2025)
- MS-68+RD: $55,813(Legend Auctions, September 2022)
The 2025 result represents a 50% increase over the 2022 sale, indicating strong competition for the PCGS population of just three coins in this grade.
1935-D (Denver) Top Results:
- MS-67+RD: $4,320(Heritage Auctions, January 2025)
- MS-67+RD: $2,400(Heritage Auctions, December 2024)
- MS-67+RD: $1,320(Heritage Auctions, June 2021)
The value for MS-67+RD 1935-D cents has more than tripled in less than four years, confirming this grade as a high-demand, low-supply condition rarity where sharp strike quality commands exceptional premiums.
1935-S (San Francisco) Top Results:
- MS-67+RD: $18,000(Heritage Auctions, January 2025)
- MS-67+RD: $5,040(Heritage Auctions, December 2024)
The dramatic 350% price difference between two MS-67+RD coins sold just one month apart illustrates the critical importance of strike quality and eye appeal. The $18,000 example undoubtedly exhibited the rare fully struck characteristics and pristine, vibrant red surfaces that top collectors demand, while the $5,040 coin likely had the typical weaker strike characteristic of the issue.
Price Guide Methodology
Values in this guide are compiled from multiple authoritative sources including APMEX, JM Bullion, PCGS CoinFacts, NGC Coin Explorer, recent Heritage Auctions results, and verified dealer listings from November 2024 through January 2025. Copper melt value calculations use November 2025 COMEX spot prices. Die variety information is sourced from Variety Vista, NGC VarietyPlus, CONECA, and Wexler attribution systems.
Coin values fluctuate based on market conditions, precious metal prices, and collector demand. Prices represent retail ranges for properly graded, problem-free examples. Actual selling prices may vary based on individual coin quality, strike characteristics, eye appeal, and market timing. For 1935-D and 1935-S issues specifically, strike quality creates significant value variance beyond the numerical grade—fully struck examples command substantial premiums over typical weakly struck coins at the same grade level.
