Penny ValuePennies › Penny value chart › 1938
Lincoln Wheat cent1938 Wheat Penny Value
When worn, every 1938 penny made for circulation (3 kinds) is typically worth about 7.5¢.
Photo credits
National Numismatic Collection, National Museum of American History (photo: Jaclyn Nash) (PD; source).jpg){kind=link}
Check your own 1938 penny
Take a photo of each side. Penny Value helps you narrow down which 1938 penny you have and what to check.
Check your own pennyPenny Value is an Android app for now, so it isn't on the App Store. The values and checks on this page are free to use.Penny Value is an Android app. Open this page on your Android phone to check your own penny with a photo.
Every 1938 penny
Worn = typical value when worn (Good to Very Fine); MS-60 = uncirculated. Values as of Q4 2026 · Penny Value estimates · not an offer to buy.
- 1938Philadelphia · 156.7 million made7.5¢worn$3.50MS-60
- 1938-DDenver · 20 million made7.5¢worn$1.50MS-60
- 1938-SSan Francisco · 15.2 million made7.5¢worn$1.50MS-60
- 1938 ProofPhiladelphia · Proof · 14,734 made$29.00proof
The proof penny listed here was sold to collectors in sets, so you won't normally find it in change.
Mint marks
1938 pennies for circulation were struck in Philadelphia (no mint mark), Denver (mint mark D) and San Francisco (mint mark S). The mint mark is below the date, on the front.
Questions
How much is a 1938 wheat penny worth?
When worn, every 1938 penny made for circulation (3 kinds) is typically worth about 7.5¢. These are Penny Value estimates as of Q4 2026, for information only.
Where is the mint mark on a 1938 penny?
1938 pennies for circulation were struck in Philadelphia (no mint mark), Denver (mint mark D) and San Francisco (mint mark S). The mint mark is below the date, on the front.
Is a 1938 penny silver or copper?
Regular 1938 pennies are bronze (95% copper, 5% tin and zinc; about 3.11 g). A silver-colored 1938 penny has usually been plated or altered after it left the Mint.
What 1938 penny errors are worth money?
No major 1938 variety is listed on this page. Errors such as off-center strikes, die cracks and clipped planchets can happen on any date; their value depends on the error and condition.