1938 S [FS-501] Lincoln Wheat Penny — Coin Value
Lincoln Wheat PennyWhat the 1938 S [FS-501] Lincoln Wheat Penny is worth — ungraded vs graded (MS62 / MS66).
1938 S [FS-501] Lincoln Wheat Penny value — Ungraded $21. Prices updated September 2026.
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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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Item details
- Series
- Lincoln Wheat Penny
- Year
- 1938
- Mint
- S
1938 S [FS-501] Lincoln Wheat Penny value
A raw (ungraded) 1938 S [FS-501] Lincoln Wheat Penny runs around $21, a certified MS62 about null, and a high-grade MS66 commands null.
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 | $21 | eBay sold comps |
Frequently asked questions
- What is the general value of this 1938 S Lincoln Wheat Penny?
- As an Ungraded coin, its value is determined by its specific condition within the Lincoln Wheat Penny series.
- Is the 'S' mint mark important for this penny?
- Yes, the 'S' mint mark specifies that this 1938 Lincoln Wheat Penny was struck at a particular mint.
- What is the series this coin belongs to?
- This coin is part of the Lincoln Wheat Penny series.