1928-S Lincoln Wheat Cent Value
In the current market, a 1928-S Lincoln Wheat Cent changes hands for roughly $0.10 at the low end and $38.00 at the top, and its metal content alone is worth $0.03 as of 2026-06-01 The figures below break the range down grade by grade.
1928-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.
Today's value of the 1928-S Lincoln Wheat Cent
In worn but collectible condition (Good-4), a 1928-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.
1928-S Lincoln Wheat Cent specifications
- Series
- Lincoln Wheat Cent
- Year
- 1928
- Mint mark
- S
- Mintage
- 17,266,000
- 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).
Where is the mint mark on a 1928 Lincoln Wheat Cent?
To confirm your 1928 coin is the San Francisco issue, find the small "S". On the obverse, below the date on the right side of Lincoln's portrait The mark is small, so tilt the coin under a light if it is not obvious.
What makes the 1928-S Lincoln Wheat Cent valuable
A large mintage of 17,266,000 means this issue is common in circulated grades. The interesting money starts in Mint State, where quality, not quantity, sets the price.
Context adds the final layer to the 1928-S Lincoln Wheat Cent. The wheat-ear reverse ran for fifty years, spanning two world wars. 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.
Summary: the 1928-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.