What’s the Value of a 1944 Wheat Penny? Complete Price Guide

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Plus, learn how to spot a fake 1944 wheat penny
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Depending on the condition, mint, and various other factors, a 1944 wheat penny can be valued anywhere from $0.20 to hundreds of thousands of dollars. Different variations of the 1944 wheat penny carry different values, especially those with errors. In this article, we dive into the value of a 1944 wheat penny, explain the factors that influence value and more. Read on to find out how much your 1944 wheat penny may be worth.

199 Wheat Penny Value: Quick Overview

  • Philadelphia Mint (No Mint Mark): $1-$6
  • Denver Mint (‘D’ Mint Mark): $1-$6.89
  • Denver Mint (‘S’ over ‘D’ and ‘D’ over ‘D’ Mint Mark): $5-$15,000
  • San Francisco Mint (‘S’ Mint Mark): $1-$12.95
  • 1944 Steel Wheat Penny: $38,500-$180,000
Section 1 of 6:

What is the value of a 1944 wheat penny?

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  1. Depending on the mint, condition, and other factors, a 1944 wheat penny can be worth anywhere from $0.20 to thousands of dollars. Other versions of the penny, like ones with misprints or the steel wheat penny, are typically worth more than the standard mints. The price breakdown for each type of wheat penny is as follows: [1]
    • Philadelphia Mint (No Mint Mark): $1-$6. In mint, uncirculated condition, Philadelphia-minted 1944 wheat pennies can be worth around $3 to $6 per penny. In well-circulated condition, they’re closer to $1. [2]
    • Denver Mint (‘D’ Mint Mark): $1-$6.89. In mint, circulated condition, Denver-minted 1944 wheat pennies go for around $6.89. In well-circulated condition, they’re around $1-$2. [3]
    • Denver Mint (‘D’ over ‘S’ or ‘D’ over ‘D’ Mint Mark): $5-$15,000. These pennies were accidentally produced with double mint marks, which makes them more valuable than the standard Denver Mint. [4]
    • San Francisco Mint (‘S’ Mint Mark): $1-$12.95. Mint, uncirculated San Francisco-minted pennies are worth around $12.95. In well-circulated condition, they’re typically worth around $1. Since it’s the most rare mint, this one is the most valuable.
    • Steel Wheat Penny: $38,500-$180,000. The steel wheat penny is the most valuable wheat penny. Starting price is typically around $38,500, with one selling for as high as $180,000 in June 2021. Some say it can go for up to $1 million. [5]
    • Rolled Thick Planchet: $200-$600. This thick penny is worth anywhere from $200 to $600 depending on the condition. It’s significantly thicker than the regular 1944 wheat penny, typically weighing over 4 grams (0.141 oz) instead of 3.11 grams (0.1097 oz). [6]
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Section 2 of 6:

Factors That Influence the Value of a 1944 Wheat Penny

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  1. 1
    Mint The mint of your wheat penny is one of the biggest determining factors of its value. Each mint has a different price point, with the Philadelphia mint being the most common and the San Francisco mint being the rarest out of the regular 1944 wheat pennies. [7]
    • The steel penny is worth more than each mint, so if you’ve got your hands on one, don’t let it go unless it’s for the right price.
  2. 2
    Condition The more worn and circulated your 1944 wheat penny is, the less it will be worth. But, if your penny is well-taken care of and uncirculated, then it will be worth more. Uncirculated pennies are typically the most valued, followed by moderately circulated and frequently circulated pennies. [8]
  3. 3
    Demand The demand for 1944 wheat pennies fluctuates depending on the mint, misprints, and condition. If you have a rarer mint that has a higher demand, it will typically be worth more, especially if it has a misprint or is steel. [9]
  4. 4
    Historical Significance 1944 wheat pennies that were minted in June, July, and August typically have a higher value than pennies minted during other months, as they were minted during the Battle of Normandy. The Battle of Normandy was a pivotal battle during World War 2, as it led to the liberation of France and the downfall of Nazi Germany. [10]
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Section 3 of 6:

How to Determine the Value of a 1944 Wheat Penny

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  1. The mint serves as a sort of basis for determining value, as it gives you a general idea of how much your 1944 wheat penny is worth. Philadelphia mints are the most common, so they're worth the least. Denver mints are the second most common, so they’re worth a bit more. San Francisco mints are the rarest out of the three standard mints, so they're worth the most (aside from steel or misprinted pennies). [11]
  2. Coin conditions are typically determined by six criteria: color, luster, attractiveness, preservation, strike, and occasionally where it was minted. Many companies and coin collectors use specific scales to determine the condition, like the Sheldon scale, which ranks coins on a 1 to 70 scale and categorizes them from poor to fine, and all the way to perfect mint state. Consult the Sheldon scale with your coin to determine its condition. [12]
  3. 1944 wheat pennies with defects and misprints are typically valued higher than standard 1944 wheat pennies. When determining the value of your 1944 wheat penny, look for double-printed ‘D’s or an ‘S’ printed over a ‘D’ on Denver mints. Check the weight on your penny, as well, as some 1944 wheat pennies are thicker than the standard variation, like the rolled thick planchet variation, which typically weighs over 4 grams. [13]
  4. Different 1944 wheat pennies have different values, especially depending on the demand of specific variations. Steel wheat pennies will typically be in higher demand than Philadelphia-minted ones, for example. Before putting a price tag on your 1944 wheat penny, check how much it’s currently going for by consulting different coin collectors and connoisseurs. [14]
  5. If you suspect that your 1944 wheat penny is valuable, reach out to a professional coin grader to determine the coin’s value and authenticity. The American Society of Appraisers and the International Society of Appraisers have directories of professional coin graders, who can authenticate the coin, confirm its value and give you tips on how to move forward with selling. Before putting your coin on the market, speak to a professional coin grader. [15]
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Section 4 of 6:

How to Spot Fake 1944 Wheat Pennies

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  1. On fake coins, the face will typically be flatter than on real coins, which feature faces that protrude off of the coin. Fakes may be slightly raised, but they typically won’t have raised, or defined features. Check areas like the cheek or cutoff point of Lincoln’s suit and see if they protrude off the coin. [16]
  2. Before deciding to buy a specific listing, compare its cost to that of typically 1944 wheat prices to see if there are any major discrepancies. Depending on the dealer, you may be getting overcharged for a 1944 wheat penny that doesn’t have much value. Do your research on the value of the wheat penny you’re looking into to avoid buying a fake. [17]
  3. By getting familiar with the coin grading system, you can determine whether a seller is being truthful about the quality of a coin. Observe the condition and compare it to the grade that is listed by the seller to determine whether the coin is fake or not. For example, if a coin is said to be in Mint State (MS) but is extremely worn , chances are it’s fake. [18]
  4. Since the 1944 steel wheat pennies are, well, steel, then they are magnetic. If you suspect a 1944 steel wheat penny to be fake, test it with a magnet to determine whether it’s the real deal or not. [19]
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Section 5 of 6:

1944 Wheat Penny History

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  1. The 1944 wheat penny has rich ties to American history. It is known for its iconic design, with two wheat stalks on its reverse side and a portrait of former U.S. President Abraham Lincoln on the observable side. It was also the first penny to be made with copper after World War 2, as the previous year’s iteration was struck in steel to save on copper. It comes in multiple variations, like the steel wheat penny, which is a steel 1944 wheat penny coated in zinc. Over two billion wheat pennies were minted in 1944 across the three following mints: [20]
    • Philadelphia: The mints lack a mint mark underneath the ‘1944’ text and are the most common mint. [21]
    • Denver: These mints are marked with a small ‘D’ underneath the ‘1944’ text. They are the second most common mint. [22]
    • San Francisco: These mints are marked with a small ‘S’ underneath the ‘1944’ text. They are the rarest mint of the 1944 wheat penny. [23]
    • The steel wheat penny is the rarest, as it was mistakenly made with leftover steel planchets from World War 2.
Section 6 of 6:

Final Thoughts

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  1. Depending on the mint, condition, and types of errors, the 1944 wheat penny can be valued up to hundreds of thousands of dollars. The steel 1944 wheat penny is typically the most valuable, while the Philadelphia-minted variation is often the least valuable. The Denver-minted variation can be worth a pretty penny if it has ‘D’ over an ‘S’ or double ‘D’ mint marks.
    • Since this coin is so valuable, make sure to look out for fakes by inspecting the quality and comparing the price to that of other 1944 wheat pennies.
    • Before selling, reach out to a professional coin grader to determine the proper value of your 1944 wheat penny. They can authenticate the penny, confirm its value based on specific factors and provide you with guidance before moving forward.
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      References

      1. ↑ https://www.coinvaluechecker.com/how-much-is-a-1944-wheat-penny-worth/
      2. ↑ https://youtu.be/BPDJ6H7fago?si=op8P3A3Mhxu_VXHk&t=110
      3. ↑ https://youtu.be/BPDJ6H7fago?si=acpL045VxHJHDuOc&t=143
      4. ↑ https://youtu.be/BPDJ6H7fago?si=ZMvvxIBZfuHYma89&t=178
      5. ↑ https://youtu.be/BPDJ6H7fago?si=0xROg2BoCYhI6W4G&t=45
      6. ↑ https://youtu.be/BPDJ6H7fago?si=3JB2ImavFidxV-sD&t=278
      7. ↑ https://accountingbyte.com/1944-wheat-penny-value/
      8. ↑ https://accountingbyte.com/1944-wheat-penny-value/
      9. ↑ https://accountingbyte.com/1944-wheat-penny-value/
      1. ↑ https://accountingbyte.com/1944-wheat-penny-value/
      2. ↑ https://coincodex.com/article/35160/how-much-is-a-1944-penny-worth/
      3. ↑ https://coinweek.com/the-sheldon-scale-how-coins-are-graded/
      4. ↑ https://youtu.be/BPDJ6H7fago?si=vvA8OhamAEI2K4i1&t=278
      5. ↑ https://coincodex.com/article/35160/how-much-is-a-1944-penny-worth/
      6. ↑ https://www.prattlibrary.org/research/guides/evaluating-old-coins
      7. ↑ https://youtu.be/udiD5WBO4ck?si=7owgkuOJFmc7sR9w&t=114
      8. ↑ https://youtu.be/MoDnTjByEPo?si=nen2tjbNhHto-mOM&t=52
      9. ↑ https://youtu.be/MoDnTjByEPo?si=IJEx93-rqRm_i7eE&t=144
      10. ↑ https://coins.thefuntimesguide.com/1944-steel-penny/
      11. ↑ https://coinweek.com/1944-lincoln-cent-a-collectors-guide/
      12. ↑ https://youtu.be/BPDJ6H7fago?si=UJkUnUX5fuWLHaZI&t=101
      13. ↑ https://youtu.be/BPDJ6H7fago?si=zb8y0Xf_-bdV5V6Z&t=124
      14. ↑ https://youtu.be/BPDJ6H7fago?si=IQOByZ6X7NXHSIiM&t=223
      15. ↑ https://coins.thefuntimesguide.com/1944-steel-penny/

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