1923-S Lincoln Wheat Cent Value
Today a 1923-S Lincoln Wheat Cent typically sells for $0.10 to $38.00, with condition doing most of the work, and its metal content alone is worth $0.03 as of 2026-06-01 Exceptional, certified pieces regularly exceed the top of that range.
1923-S Lincoln Wheat Cent value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $0.03 |
| Good (G-4) | $0.10 to $0.15 |
| Very Good (VG-8) | $0.10 to $0.20 |
| Fine (F-12) | $0.20 to $0.35 |
| Very Fine (VF-20) | $0.40 to $0.70 |
| Extremely Fine (XF-40) | $0.80 to $1.35 |
| About Uncirculated (AU-50) | $1.60 to $2.70 |
| Mint State (MS-60) | $3.20 to $5.40 |
| Choice Unc (MS-63) | $7.20 to $12.00 |
| Gem Unc (MS-65) | $22.50 to $38.00 |
Estimated retail range, updated 2026-06-15. Estimates are modeled from mintage rarity and metal content, not auction records. Actual sale prices vary with certification, eye appeal and market timing.
Current 1923-S Lincoln Wheat Cent value
In worn but collectible condition (Good-4), a 1923-S Lincoln Wheat Cent starts around $0.10. From there, value climbs with every grade step: a gem Mint State example (MS-65) can reach $38.00. Most coins found in old collections fall somewhere between Very Fine and About Uncirculated, the middle rows of the table above.
1923-S Lincoln Wheat Cent specifications
- Series
- Lincoln Wheat Cent
- Year
- 1923
- Mint mark
- S
- Mintage
- 8,700,000
- Composition
- 95% copper, 5% tin and zinc (bronze); zinc-coated steel in 1943
- Weight
- 3.11 g
- Diameter
- 19.05 mm
- Edge
- Plain
- Designer
- Victor David Brenner
Mintage figure: US Mint reports (approximate).
How to find the S mint mark
On a 1923-S Lincoln Wheat Cent, the "S" mint mark of the San Francisco Mint sits on the obverse, below the date on the right side of Lincoln's portrait. A loupe helps: on worn examples the letter can fade into the surrounding devices.
What makes the 1923-S Lincoln Wheat Cent valuable
Context adds the final layer to the 1923-S Lincoln Wheat Cent. In 1943 copper went to the war effort and cents were struck in zinc-coated steel; a handful of bronze planchets left in the presses became the legendary 1943 copper cents, worth six figures. Owning this date means owning a piece of that story, and demand for the series as a whole sustains liquidity for every issue in it.
With 8,700,000 struck, the 1923-S Lincoln Wheat Cent is one of the more available dates of its series. Its value rests on metal content and condition rather than absolute rarity, which makes it an ideal type coin.
Summary: the 1923-S Lincoln Wheat Cent is valued between $0.10 and $38.00 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.