Background

Production of Lincoln Wheat Cents started in 1909 in Philadelphia and San Francisco. In 1911 the Denver Mint began minting Wheat Cents also.

All 3 mints manufactured wheat cents year after year until 1958.

Exceptions: 1921-D, 22-P, 22-S, 23-D, 32-S, 33-S, 34-S

1955 is the final year wheat cents were made in San Francisco. Philadelphia and Denver continued to produce them through 1958.

1955-S Cent

Here are two 1955-S Lincoln Wheat cents. The coin on the left is uncertified (‘raw’) and grades MS64 Red. The coin on the right is certified by NGC at Mint State 67 Red.

Hoarding 1955-S Cents

It was common knowledge that the 1955-S would be the final issue in San Francisco. Hoarders gathered large quantities of the uncirculated coins in expectation that they would gain in value. Consequently the 1955-S was a scarce coin for collectors for many years.

Later in the century when the hoarded coins re-emerged it was easier to find an uncirculated 1955-S than a circulated one. In any case they are not scarce as over 44 million were made.

Mystique of the 55-S

In the late 1950’s and the 1960’s when the 55-S was scarce it was exciting to finally find one to fill that empty slot. A 55-S was considered a prize coin when arranging trades. Even though it is no longer scarce, it maintains the original mystique.

Lessons Learned

The idea of hoarding coins did not pan out for the 55-S cent. There was money made, but not the expected jackpot.

Buying low mintage products and saving them for a rainy day can be profitable. In fact, simply looking for newly marketed coins with low mintages makes sense.

Mintage Data

Approximate data for Red Wheat Cents around 1955 is shown below:

The 1955-S has the lowest mintage for this grouping, but there were about 45 Million made. The fact that they were hoarded accounts for the large number of these available in high grades.

Conclusions

The 1955-S Lincoln Wheat Cent is a popular collector coin. Much of the mystique around this coin was created by the hoarding of new bank rolls when they were released. The hoarded coins are still entering the marketplace over 60 years later.

Happy Hunting!