Lincoln Wheat Cents · Great Depression Era

1920 Lincoln Wheat Cent

History, mintage, varieties, and collector value of the 1932 Lincoln Wheat cent

1920 Lincoln Wheat Cent – Quick Facts

Designer: Victor David Brenner
Composition: 95% copper, 5% tin and zinc (bronze)
Weight: 3.11 grams
Diameter: 19.0 mm
Edge: Plain
Mint Marks: None (Philadelphia), D (Denver), S (San Francisco)
Historical Context: Postwar economic adjustment and rising inflation
Collector Note: 1920-D and 1920-S are more challenging than the Philadelphia issue in Mint State

Why the 1920 Lincoln Wheat Cent Matters

The 1920 Lincoln Wheat Cent marks the transition from the World War I era into the roaring 1920s and stands out for its very high mintage, especially from Philadelphia. With more than 310 million cents struck at the main mint alone, the 1920 issue is one of the most heavily produced early Wheat cents and is extremely common in circulated condition.

Despite this abundance, sharply struck, fully red Mint State coins, especially from Denver and San Francisco, remain prized by collectors and can be surprisingly tough to track down.

Design and Specifications

No changes occurred to the Lincoln cent design in 1915. Victor David Brenner’s right-facing portrait of Abraham Lincoln and the familiar wheat-ears reverse continued unchanged, now six years into the series’ production.

By this point, the Lincoln Wheat cent had become a firmly established everyday coin in American commerce. The design details were well known to the public, and the Mint focused on production rather than experimentation or modification.

The V.D.B. initials remained absent from the reverse in 1915, as they would until their return on the obverse in 1918.

In addition to regular business strikes, matte proof cents were produced in very small quantities during this period. For 1915, surviving estimates suggest roughly 1,050 to 1,150 proof specimens, making them among the scarcer early Lincoln cent proofs and highly desirable to advanced collectors today.

Historical Context: America in 1920

In 1920, the United States was adapting to peacetime after World War I and entering a decade of economic expansion and social change. The 1920s brought rapid industrial growth, increased consumerism, and new technologies, all of which fueled everyday commerce and heavy use of coins like the cent.

The Lincoln cent had by then become a familiar part of American pocket change, and 1920’s huge mintage reflects both population growth and the expanding role of cash transactions.

Mintages and Mint Marks

Three mints produced Lincoln cents in 1920, and all saw significant output.

Mint	Mint Mark	Mintage	Relative Scarcity
Philadelphia	(none)	310,165,000	Extremely common in circulated grades
Denver	D	49,280,000	Common; tougher in top MS
San Francisco	S	46,220,000	Common; fewer gem survivors

The mint mark, when present, appears below the date. The huge Philadelphia mintage makes 1920-P one of the archetypal “common wheat cents,” while 1920-D and 1920-S are a bit more interesting in higher grades.

Common Coins, Condition Challenges

From a mintage standpoint, 1920 is an abundant, easy date, but condition and eye appeal can still make a big difference in value.

Why 1920 Cents Are Common

Philadelphia alone struck over 310 million coins, one of the highest outputs for an early Wheat cent.
Denver and San Francisco added nearly 100 million more coins combined.
Many 1920 cents remained in circulation for decades, and large quantities are still found in dealer stock and old hoards.

Condition and Mint-Specific Considerations

1920-P: Common in all circulated grades; attractive red and red-brown Mint State coins are readily available but still collected for quality.
1920-D: Popular branch-mint issue; high-grade red examples are considerably scarcer than the raw mintage suggests.
1920-S: Noted for having relatively few surviving gem coins, with most Mint State examples showing some combination of weaker strike, spotting, or marks.

Third-party grading references note that 1920-S, in particular, is far scarcer in true gem conditions than its mintage of over 46 million would imply.

Varieties and Errors

1920 cents do not feature a single headline variety on par with the 1917 DDO, but a range of minor varieties and errors exist.

Collectors may encounter:

Repunched mint marks (RPMs) on Denver and San Francisco issues, where the mint mark was punched into the die more than once.
Die cracks and minor breaks, especially on heavily used dies at the high-production Philadelphia Mint.
Typical mint errors such as off-center strikes, clipped planchets, and lamination flaws, which can carry premiums when dramatic and well-preserved.

Most of these varieties are of specialist interest, but they provide fun targets for careful roll searching and cherrypicking.

1920 Lincoln Wheat Cent Values

Because of its common-date status, prices for 1920 cents are modest in lower grades and become more interesting at higher Mint State levels.

1920 (no mint mark)

Good to Very Fine: small premium over face value; extremely common.
Extremely Fine: affordable with nice detail.
About Uncirculated: modest premium; often chosen by collectors building circulated sets.
MS-60 to MS-63: reasonable cost; plenty of examples available.
MS-65 Red and finer: conditionally scarce, with prices rising for coins with clean surfaces and strong luster.

1920-D

Good to Very Fine: moderate premiums over 1920-P, but still accessible.
XF–AU: increased demand from date-and-mint collectors.
MS-60 to MS-63: strong premiums; fewer coins available than for Philadelphia.
MS-65 Red: notable condition rarity, valued for both color and branch-mint status.

1920-S

Good to Very Fine: modest premiums; common in lower grades.
XF–AU: more desirable as sharp detail and problem-free surfaces are harder to find.
MS-60 to MS-63: scarcer than the mintage suggests; eye appeal matters a lot.
MS-65 Red: genuinely scarce, with relatively few certified examples compared to more common dates.

Market values vary. Certification, strike quality, and eye appeal all influence final pricing.

Collecting Tips

For Type Collectors

A 1920-P cent in pleasing circulated condition is an ideal, inexpensive representative of a high-mintage early Wheat cent.
If your budget allows, a choice red-brown or red Mint State example highlights the design nicely.

For Date-and-Mint Collectors

A three-coin 1920 set (P, D, S) is straightforward in circulated grades and rewarding in higher grades.
For 1920-D and especially 1920-S, be selective about strike and color; many coins show some compromises from heavy production and circulation.

For Condition and Variety Collectors

Seek well-struck, fully red 1920-D and 1920-S coins in certified holders; these are much tougher than the raw mintage numbers imply.
Cherrypicking minor RPMs or attractive error pieces can add extra interest to an otherwise common date.

Fun Facts About the 1920 Wheat Cent

Beyond dates and values, the 1920 Lincoln Wheat Cent has several interesting details that help explain its place in the early Wheat Cent series.

One of the Highest Lincoln Cent Mintages of the Era

The 1920-P mintage of 310,165,000 coins places it among the most heavily produced Lincoln cents of the early decades.

A High-Mintage Coin With Few True Gems

Despite mintages exceeding 46 million, the 1920-S has surprisingly few surviving gem-quality examples, making it a sleeper challenge for high-grade collectors.

Often Found in “Junk Wheat” Bulk Lots

Large quantities of 1920–1929 wheat cents are frequently sold as bulk “junk wheat” bags, offering collectors an affordable way to hunt for better dates and varieties.

A Transitional Year After World War I

The 1920 Wheat Cent reflects the post-World War I economic shift, as the U.S. Mint increased production to meet renewed demand for everyday coinage.

Condition Matters More Than Date for Most 1920 Cents

While most 1920 issues are common in circulated grades, sharply struck, problem-free examples with full red color become significantly harder to locate.

An Overlooked Entry Point Into Early-1920s Sets

Because the 1920 Wheat Cent lacks headline rarity, it’s often overlooked, making it an accessible and affordable starting point for collectors building early-1920s Lincoln cent sets.

FAQ — 1920 Lincoln Wheat Cent

Got a quick question about the 1920 Lincoln Wheat Cent? Here are the answers collectors ask most often.

Are 1920 wheat pennies rare?

No. 1920 cents are very common in circulated grades, especially from Philadelphia, though high-grade red examples from the branch mints are much scarcer and more valuable.

What is the most valuable 1920 penny?

In comparable condition, high-grade certified 1920-D and 1920-S cents, especially in MS-65 Red or better, are typically the most valuable, due to their relative scarcity in top condition.

Do 1920 pennies have major errors or varieties?

No widely famous major varieties are associated with 1920 cents, but minor RPMs and typical mint errors like off-center strikes and lamination flaws are collected and can bring premiums.

Are 1920 wheat pennies good for beginners?

Yes. Because they are inexpensive in lower grades and still offer challenges in higher Mint State conditions, 1920 cents are excellent for beginning collectors and roll hunters.

Are 1920 wheat pennies commonly counterfeited?

No. The 1920 Wheat Cent is not a major counterfeiting target. Most issues encountered involve cleaned coins or normal wear rather than altered dates or mint marks.

Why do 1920-D and 1920-S cents command premiums in high grades?

Despite substantial original mintages, many branch-mint 1920 cents were weakly struck or heavily circulated, leaving relatively few sharply detailed, fully red survivors in higher Mint State grades.

Still have more questions?

Drop your question in the comments.

Quiz: Test Your 1920 Lincoln Cent Knowledge

Why are most 1920 wheat pennies considered common today?

Which 1920 mint issues are hardest to find in gem red condition?

What type of errors are most commonly collected on 1920 cents?

1920 Lincoln Wheat Cent — Takeaway

The 1920 Lincoln Wheat Cent is a classic example of how high mintage does not always translate to high availability in top condition. While circulated examples, especially from Philadelphia, are extremely common, sharply struck, fully red Mint State coins from the Denver and San Francisco mints are surprisingly scarce. With approachable prices in lower grades, a wide range of collectible minor errors, and meaningful challenges at the high end, the 1920 Wheat Cent remains an excellent entry point for new collectors and a rewarding pursuit for advanced Lincoln cent specialists.

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