Pre-1933 US Gold Coins: Melt Value and Premiums
Every pre-1933 US gold coin is 90% gold. Here's how much gold each one holds, how to price it at melt and why most sell above that floor.
Lincoln Wheat Penny Melt Value
Markets closed: precious metals don’t trade on weekends, so prices show Friday, Nov 6’s close. Live updates resume Sunday evening (ET). Last checked ET
Melt value of one Lincoln Wheat Penny
$0.0420
Face value $0.01Melt ÷ face 4.20×
A Lincoln Wheat Penny (1909–1958) weighs 3.11 grams and is made of 95% copper, 5% tin and zinc (1944–1946: 95% copper, 5% zinc). At today’s metal prices the metal in one coin is worth about $0.0420, more than its face value.
Every wheat-reverse cent except the 1943 steel cent is about 95% copper.
Lincoln Wheat Penny specifications
| Years | 1909–1958 |
|---|---|
| Face value | $0.01 |
| Weight | 3.11 g (0.1000 troy oz) |
| Composition | 95% copper, 5% tin and zinc (1944–1946: 95% copper, 5% zinc) |
| Diameter | 19 mm |
| Copper content | 2.955 g · worth $0.0414 |
| Zinc content | 0.156 g · worth $0.0006 |
How much are Lincoln Wheat Penny coins worth in bulk?
| Quantity | Face value | Melt value |
|---|---|---|
| 1 | $0.01 | $0.0420 |
| 5 | $0.05 | $0.2100 |
| 10 | $0.10 | $0.4200 |
| 50 (1 roll) | $0.50 | $2.10 |
| 100 | $1.00 | $4.20 |
| 1,000 | $10.00 | $42.00 |
How the Lincoln Wheat Penny melt value has changed
| Date | Melt value then | Change to today |
|---|---|---|
| 1 month ago (Oct 8, 2026) | $0.0437 | ▼ -3.89% |
| 1 year ago (Nov 8, 2025) | $0.0321 | ▲ +30.77% |
| 5 years ago (Nov 8, 2021) | $0.0293 | ▲ +43.53% |
| 10 years ago (Nov 8, 2016) | $0.0165 | ▲ +154.46% |
Based on stored daily closing prices and monthly averages for copper, nickel and zinc.
Can you melt them? Not for profit. Federal rules (31 CFR Part 82) prohibit melting or treating US 1-cent and 5-cent coins and restrict exporting them, with narrow exceptions (for example small quantities for numismatic use, or coins used in jewelry and crafts without intent to profit from the metal). Violations can bring fines of up to $10,000 and up to five years in prison. Melt value here shows what the metal is worth, not a legal way to cash it in.
Melt value vs. what your Lincoln Wheat Penny is worth
Melt value is the floor: the value of the metal alone. Dealers who buy coins for their metal usually pay a little below melt. Coins with a rare date, mint mark or error, or in uncirculated condition, can sell for far more than melt to collectors – check a current price guide or have the coin graded before selling anything that looks scarce.
Have several coins? Use the coin melt value calculator.
Other pennies (cents)
| Coin | Years | Metal content | Melt value | × face |
|---|---|---|---|---|
 Flying Eagle & Indian Head Copper-Nickel Cent | 1856–1864 | 4.67 g · 88% copper | $0.0667 | 6.7× |
 Indian Head Penny (bronze) | 1864–1909 | 3.11 g · 95% copper | $0.0420 | 4.2× |
 1943 Steel Penny | 1943 | 2.7 g · Zinc-coated steel | $0.0001 | 0.0× |
 Lincoln Memorial Copper Penny | 1959–1982 | 3.11 g · 95% copper | $0.0420 | 4.2× |
 Lincoln Zinc Penny | 1982–present | 2.5 g · Copper-plated zinc (97.5% zinc | $0.0107 | 1.1× |
Melt value = metal content × today’s spot price. It is not what a dealer pays (usually less) or a collector’s price (often more).
Frequently asked questions
How much is a Lincoln Wheat Penny worth in melt value today?
At today’s metal prices (November 8, 2026) one Lincoln Wheat Penny contains about $0.0420 worth of metal. This is the melt (scrap) value – rare dates and coins in top condition can sell for much more to collectors.
What is a Lincoln Wheat Penny made of?
A Lincoln Wheat Penny weighs 3.11 grams and is made of 95% copper, 5% tin and zinc (1944–1946: 95% copper, 5% zinc).
Is a Lincoln Wheat Penny worth more than its face value?
Right now the metal in a Lincoln Wheat Penny is worth 4.2× its face value of $0.01.
Is it legal to melt pennies and nickels?
No, not for profit. Federal rules (31 CFR Part 82) prohibit melting or treating 1-cent and 5-cent coins and limit exporting them, with narrow exceptions such as small amounts for numismatic use or coins used in jewelry and crafts without intent to profit from the metal. 1942–1945 silver war nickels are exempt.
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Melt values are estimates based on spot prices and official coin specifications. Dealers usually pay less than melt; rare coins can be worth far more to collectors.