1938 S Lincoln Wheat Penny — Coin Value
Lincoln Wheat PennyWhat the 1938 S Lincoln Wheat Penny is worth — ungraded vs graded (MS62 / MS66).
1938 S Lincoln Wheat Penny value — Ungraded $8 · MS62 $16 · MS66 $35. Prices updated August 2026.
Real sold prices per grade — the MS66 premium on this card is 4.4× raw.
Live on eBay right now
Which version do you have?
For the cheapest ownership, purchase the Standard 1938 S Lincoln Wheat Penny at $7. The FS-501 version commands $21, offering a higher grade and potentially better presentation, which appeals to serious collectors. If your goal is simply to own the coin, stick to the Standard. If you seek a more polished or graded example, the FS-501 is the worthwhile investment.
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Price data verified against · 1
Item details
- Series
- Lincoln Wheat Penny
- Year
- 1938
- Mint
- S
1938 S Lincoln Wheat Penny value
A raw (ungraded) 1938 S Lincoln Wheat Penny runs around $8, a certified MS62 about $16, and a high-grade MS66 commands $35.
What drives the price
Grade, mint mark, strike quality, and key dates drive coin value. Certified (slabbed) coins carry a premium over raw; low-mintage years and full-strike examples appreciate the most.
Price guide
What this actually trades for — sold values by condition vs. what sellers are asking today
| Condition | Value | Based on |
|---|---|---|
| Ungraded | $8 | eBay sold comps |
| MS62 | $16 | eBay sold comps |
| MS66 | $35 | eBay sold comps |
Frequently asked questions
- What is the approximate value of an ungraded 1938 S Lincoln Wheat Penny?
- An ungraded 1938 S Lincoln Wheat Penny is valued starting around $7.
- How much more is an MS66 compared to an ungraded version?
- An MS66 grade is valued at $38, significantly higher than the ungraded price point.
- Which mint mark is associated with this specific 1938 Lincoln Wheat Penny?
- This specific item is from the S mint mark series.