Why is a 1933 Wheat Back so valuable?

[Groovedymond]

Looking through some coins this weekend, I came across a 1933 Lincoln... when I looked up the value, I saw it was worth WAY more than the dates around it.... AND.. the Mint production number was way up there.

Is my book wrong, or is it really worth that much? If it really IS worth that much.. anyone know why?

 

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[hyperion]

G,

Those figures look to be in perfect proportion. I don't see what you see. For example the 33-D has a mintage less than half and a value greater than double.

 

[Groovedymond]

Thanks for responding. I guess I'm just surprised where you look at the 32 D.... 4 million less minted.. yet they are both the same price. Just seemed a bit high... I guess it's not that much when you really look at it.

I was more curious if there was a 'behind the scenes' type of story as to the price of it.

 

[hyperion]

"Behind the scenes" Oh now I get it.

Most of the anomalies relate to survivorship. It's been about 75 years since they were minted, sufficient time to determine how many survivors remain and at what grade. Evidently the same amount of 33-P's remain as 32-D's. That holds true until you get to uncirculated grades. This formula works well until you throw an unknown into the mix. The biggest example would be the Federal Reserve stockpile of Morgan dollars released after 1964. Some previous rarities became common overnight. This won't happen to the Lincoln wheat cents ... the only hoards are private and shouldn't greatly affect the market if released ... unless someone is holding out some 5000 uncirculated 09-svdb cents.

 

[Mackaydon]

The '09 Redbook shows the 33 plain in G-4 at $1.00 and the 33D at $2.00