So you found a 1945 wheat penny? That's pretty cool. I remember going through my grandpa's old coin jar as a kid and pulling out these wheat-back pennies thinking they were ancient treasures. Now here you are, wondering if your copper circle is worth anything more than one cent. Let's cut to the chase - I've been collecting coins since I was twelve, and I'll tell you exactly what affects that 1945 wheat penny value without any fluff.
Quick Answer: Most 1945 wheat pennies are worth 25¢ to $5. But I once saw a mint condition 1945-S penny sell for over $6,000 at auction. The difference comes down to three things: condition, mint mark, and errors.
What Makes 1945 Wheat Pennies Special?
These coins aren't super rare - the Philadelphia, Denver, and San Francisco mints churned out over 1 billion that year. But they're historical relics minted during World War II. That copper in your hand helped fund the war effort. Kinda wild when you think about it.
I've always found it ironic these pennies circulated alongside steel cents from 1943. The government switched back to copper in 1944 but kept using recycled shell casings until 1946. That's why some 1945 pennies have a subtle reddish tint - they contain actual battlefield brass.
Key Features That Set Them Apart
Obverse: Abe Lincoln facing right with "IN GOD WE TRUST" above his head. "LIBERTY" on left, date on right. Designer Victor Brenner's initials "VDB" hide under Lincoln's shoulder.
Reverse: Two wheat stalks framing "ONE CENT" and "UNITED STATES OF AMERICA." The famous design lasted from 1909 to 1958.
Fun fact: When I started collecting in the 90s, dealers called these "wheats" or "wheaties." Still do.
Factors That Impact 1945 Wheat Penny Value
| Factor | Why It Matters | Real-World Example |
|---|---|---|
| Condition (Grade) | A worn penny might be worth 10¢ while a flawless one could fetch thousands | VG-8 grade: $0.25 | MS-67: $950+ |
| Mint Mark | San Francisco (S) coins are scarcer than Philadelphia (no mark) or Denver (D) | 1945-D in MS-65: $35 | 1945-S in MS-65: $95 |
| Errors & Varieties | Mistakes like double dies dramatically increase value | Regular 1945: $0.50 | 1945 DDO: $1,500+ |
| Eye Appeal | Original color and luster matter more than technical grades sometimes | Two MS-65 coins: one with spots $40, one rainbow toned $200 |
Watch Out: I learned the hard way that cleaned pennies lose 50-90% of their value. If yours looks scrubbed shiny, dealers won't touch it. Natural patina is gold.
Current 1945 Wheat Penny Value By Grade
Prices change weekly, but here's what I'm seeing in auctions as of last month. These are actual dealer-to-collector prices, not those inflated "price guide" numbers.
Philadelphia (No Mint Mark)
| Grade | Characteristics | Value Range |
|---|---|---|
| Good (G-4) | Heavy wear, date readable but faint | $0.10 - $0.25 |
| Very Fine (VF-20) | Moderate wear, wheat lines partially visible | $0.50 - $1.50 |
| Extremely Fine (EF-40) | Light wear, all details sharp | $1.50 - $3.00 |
| Mint State (MS-60) | No wear but bag marks, weak luster | $5 - $12 |
| MS-65 (Choice Uncirculated) | Minimal marks, strong luster | $25 - $65 |
| MS-67+ (Superb Gem) | Virtually flawless, booming luster | $950 - $2,500 |
Denver (D Mint Mark)
Values run slightly higher than Philly coins. Here's why D-mint matters:
| Grade | Value Range | Notes |
|---|---|---|
| G-4 | $0.15 - $0.30 | Look for weak D mint marks |
| VF-20 | $0.75 - $2.00 | Full rim increases value |
| EF-40 | $2.00 - $4.00 | Check for doubling on motto |
| MS-60 | $8 - $18 | Often spotted or discolored |
| MS-65 | $35 - $75 | Cream of the crop brings $100+ |
| MS-67 | $1,200 - $3,000 | Only 5-10 known in this grade |
San Francisco (S Mint Mark)
The premium coin for 1945. Why? Lower mintage and weaker strikes.
| Grade | Value Range | Special Considerations |
|---|---|---|
| G-4 | $0.25 - $0.50 | S mint mark often weak |
| VF-20 | $1.00 - $3.00 | Check for repunched mint marks |
| EF-40 | $3.00 - $6.00 | Liquid market at coin shows |
| MS-60 | $12 - $25 | Most have bag marks |
| MS-65 | $95 - $225 | Red-brown specimens command top dollar |
| MS-67+ | $4,500 - $12,000 | Population: 3 in PCGS records |
The first "S" mint I found took me three years to locate in decent shape. Paid $17 for a XF-40 at a flea market in 2003. Still have it - wouldn't sell for less than $100 now. Some coins grow on you.
Mega-Value Errors and Varieties
This is where 1945 wheat penny value goes nuts. I've tracked these error auctions for years:
| Error Type | How to Identify | Value Range |
|---|---|---|
| 1945 DDO (Double Die Obverse) | Doubled letters in "LIBERTY" and date | $1,500 - $15,000+ |
| Repunched Mint Mark (RPM) | S or D shows doubling or notching | $75 - $1,200 |
| Off-Center Strike (5-10%) | Design partially missing with blank crescent | $25 - $100 |
| Die Cracks/Cuds | Raised lines or blobs on surface | $20 - $300 |
| Brockage | Mirror-image impression on one side | $350 - $2,500 |
Pro Tip: Use a cheap 10x loupe to examine your coin under bright light. Doubling jumps out when you rock the coin back and forth. Don't bother with smartphone lenses - waste of money.
Grading Your 1945 Penny Accurately
Grading isn't guesswork. Here's what collectors actually check:
Wear Points on Lincoln:
- Check cheekbone - first to wear down
- Hair above ear - should show strands
- Coat fold lines - look for definition
Wear Points on Reverse:
- Wheat stalk tips - disappear when worn
- Center stalks - should have clear separation
- Letter edges - look for flat spots
I once overgraded a penny by two full points because I missed rub on Lincoln's jaw. Cost me $120 at resale. Learn from my mistake.
Professional Grading Worth It?
Spending $40 to grade a $20 coin feels silly. But if you suspect yours is MS-66 or higher, or has an error, here's the math:
| Coin Value Raw | Value in PCGS/NGC Holder | Worth Grading? |
|---|---|---|
| Under $100 | No significant increase | No |
| $100-$500 | 30-50% premium | Maybe if high-end |
| $500+ | Double or more | Always |
Where to Sell for Maximum 1945 Wheat Penny Value
I've tested all these channels. Their pros and cons:
| Venue | Best For | Commission/Fees | Speed |
|---|---|---|---|
| eBay | Error coins & high grades | 12.9% + $0.30 | 2 weeks |
| Coin Dealer | Quick cash under $300 | 30-50% discount | Immediate |
| Coin Shows | Raw coins in mid-grades | 10-20% below market | 1 day |
| Heritage Auctions | Coins worth $1,000+ | 20% buyer premium | 3 months |
| Reddit r/Coins4Sale | Collectors under $200 | PayPal fees only | 3-7 days |
My worst sale? Sold a VF-35 1945-S to a dealer for $2.50 when it was worth $12. Still kick myself.
FAQ: Your 1945 Penny Questions Answered
How much is a 1945 wheat penny with no mint mark worth?
If it's worn smooth like most pocket change, maybe a dime. But an uncirculated red-brown example could hit $50-$150. I bought one last summer for $37.50 at a show.
Why do some 1945 pennies look different?
The metal composition changed during WWII. Pennies from 1944-46 used recycled shell casings, giving some a brassier color. After 1946 they switched back to pure copper.
Can a 1945 penny be worth $10,000?
Theoretically yes - PCGS values an MS-67+ red at $12,000. But you've got better odds winning the lottery. Only three exist in that grade.
Is it illegal to melt down 1945 pennies?
Technically yes - US law prohibits melting cents and nickels. Penalties up to $10,000. Even if it wasn't, copper value is only 2.5¢ per penny. Not worth it.
How many 1945 wheat pennies were made?
Philadelphia: 1,040,515,000 | Denver: 266,268,000 | San Francisco: 181,770,000. So yes, San Francisco coins carry that premium for rarity.
Authentication Tips to Avoid Fakes
The market's flooded with altered coins. Three things I always check:
Weight: Should be 3.11 grams. Counterfeits often weigh 2.8g or 3.4g.
Rim: Real wheat cents have even, rounded rims. Fakes often show flat edges.
Sound: Drop it on wood. Pure copper "rings" - zinc-plated fakes go "clunk."
Had a buddy lose $450 on a fake 1945-S DDO he bought online. The doubling looked "too perfect" in retrospect. Always get second opinions on big purchases.
Preserving Your 1945 Penny
Store it wrong and kiss value goodbye:
DO:
- Use PVC-free plastic flips ($3 per 100)
- Store in cool, dry place (humidity under 50%)
- Handle by edges with cotton gloves
DON'T:
- Clean with polish or baking soda (destroys surfaces)
- Store in cardboard albums (causes corrosion)
- Touch surfaces with fingers (oils cause spots)
My first collection got ruined because I kept pennies in a tin can. Don't be teenage me.
Final Thoughts on 1945 Wheat Penny Value
Most aren't retirement funds. But finding that sharp, red-brown S-mint in grandpa's attic? That could pay a month's rent. I suggest checking every wheat penny you find from now on - I've found two valuable errors in regular circulation over 30 years. It happens.
If you've got a potential winner, get it authenticated. And maybe hold onto it awhile. These wartime coins only get more historically interesting as time passes. Just keep 'em away from that dang tin can.
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