Variety: There are two main varieties of the 1935 wheat penny:
- Regular issue: This is the most common variety of the 1935 wheat penny. It has a plain reverse with the words "ONE CENT" and "E PLURIBUS UNUM" surrounded by a wheat stalk design.
- Steel cent: In 1935, the U.S. Mint experimented with producing pennies from steel instead of copper due to the rising price of copper. Steel cents were produced at the Philadelphia, Denver, and San Francisco Mints. They have the same design as regular wheat pennies but are made of steel instead of copper. Steel cents are much rarer than regular 1935 wheat pennies and are more valuable as a result.
Condition: The condition of a 1935 wheat penny is another important factor in determining its value. Coins that are well-preserved and free of damage are more valuable than those that are damaged or worn. The Sheldon Coin Grading Scale is commonly used to grade the condition of coins, with grades ranging from 1 (poor) to 70 (perfect).
Uncirculated (UNC): An uncirculated 1935 wheat penny is one that has never been in circulation. These pennies have sharp features, no wear, and a lustrous finish. Uncirculated 1935 wheat pennies are more valuable than circulated pennies.
Extremely fine (XF): An extremely fine 1935 wheat penny shows slight signs of wear but still has sharp features and a mostly original mint luster. These pennies are also considered valuable.
Fine (F): A fine 1935 wheat penny shows moderate wear, with some loss of detail and luster. These pennies are still collectible, but not as valuable as uncirculated or extremely fine pennies.
Good (G): A good 1935 wheat penny shows significant wear, with most of the details worn smooth and little to no luster remaining. These pennies are still worth collecting, but they are less valuable than higher-grade pennies.
In general, a 1935 wheat penny in uncirculated condition can range in value from $0.10 to $1 or more, depending on its variety and condition. Circulated 1935 wheat pennies are generally worth around their face value, but some well-preserved examples may sell for slightly higher prices.