As of 2014, the value of a U.S. 1938 penny ranges between 35 cents and $12.00. This value is based on the condition of the coin and any unique factors that may characterize it, such as markings or rare minting location.
As of 2014, a 1938 penny in poor or heavily used condition is valued beginning at 35 cents. If the coin is in near mint or perfect condition the value is as high as $12.00. Coins can also fall at any pricing interval between these two prices. The 1938 penny is called a wheat penny due to the design on the back. The front features a profile of Abraham Lincoln. They were produced from 1909 until 1956 in the United States.