1942 Wheat Penny Value Guide

The 1942 Wheat Penny Value

Circulation-strike 1942 wheat pennies remain very low in value until they reach the higher mint-state grades. This is true for all 3 minting locations.

Value increases (sometimes significant) happen in the red-brown and red versions of these coins. 

This is also true for the proof version.

An N/A for a value below indicates no publicly known examples of that version of the 1942 wheat penny with that grade, or no value information (or not enough) exists for it yet.

Additionally, all values are conservative estimates based on research. Please note all values are subject to change due to the market or circumstances unaccounted for during research and publication. We always recommend doing further research or consulting with a professional.

Melt Value

The 1942 wheat penny’s melt value is approximately negligible. The melt value will fluctuate with the market.

Circulation Strike Value Chart – Brown Coins (BN)

	Coin Names And Coin Values
Grade Names	1942 Brown Wheat Penny	1942-D Brown Wheat Penny	1942-S Brown Wheat Penny
Good – G BN	$0.12	$0.12	$0.16
Very Good – VG BN	$0.15	$0.15	$0.18
Fine – F BN	$0.18	$0.23	$0.31
Very Fine – VF BN	$0.23	$0.28	$0.52
Extra Fine – XF BN	$0.31	$0.36	$0.73
About Uncirculated – AU BN	$0.37-$0.57	$0.42-$0.62	$1-$2
Mint State – MS BN	$1-$48 (67)	$1-$49 (67)	$3-$39 (67)

Circulation Strike Value Chart – Red-Brown Coins (RB)

	Coin Names And Coin Values
Grade Names	1942 Red-Brown Wheat Penny	1942-D Red-Brown Wheat Penny	1942-S Red-Brown Wheat Penny
MS 60 RB	N/A	N/A	N/A
MS 61 RB	N/A	N/A	N/A
MS 62 RB	N/A	N/A	N/A
MS 63 RB	$3	$3	$7
MS 64 RB	$5	$7	$10
MS 65 RB	$8	$9	$14
MS 66 RB	$15	$18	$25
MS 67 RB	$63	$61	$52
MS 68 RB	N/A	N/A	N/A
MS 69 RB	N/A	N/A	N/A
MS 70 RB	N/A	N/A	N/A

Circulation Strike Value Chart – Red Coins (RD)

	Coin Names And Coin Values
Grade Names	1942 Red Wheat Penny	1942-D Red Wheat Penny	1942-S Red Wheat Penny
MS 60 RD	N/A	N/A	N/A
MS 61 RD	N/A	N/A	N/A
MS 62 RD	N/A	N/A	N/A
MS 63 RD	$6	$6	$13
MS 64 RD	$11	$11	$17
MS 65 RD	$18	$18	$24
MS 66 RD	$35	$27	$40
MS 67 RD	$192	$177	$170
MS 68 RD	N/A	$10,000	$10,000
MS 69 RD	N/A	N/A	N/A
MS 70 RD	N/A	N/A	N/A

Proof Strike (PR) Value Chart – Brown Coins (BN)

1942 Brown Proof Wheat Penny
Grade Names	Coin Values
PR 60 BN	$15
PR 61 BN	$18
PR 62 BN	$22
PR 63 BN	$32
PR 64 BN	$56
PR 65 BN	$98
PR 66 BN	N/A
PR 67 BN	N/A
PR 68 BN	N/A
PR 69 BN	N/A
PR 70 BN	N/A

Proof Strike (PR) Value Chart – Red-Brown Coins (RB)

1942 Red-Brown Proof Wheat Penny
Grade Names	Coin Values
PR 60 RB	$22
PR 61 RB	$27
PR 62 RB	$41
PR 63 RB	$51
PR 64 RB	$82
PR 65 RB	$195
PR 66 RB	$352
PR 67 RB	$860
PR 68 RB	N/A
PR 69 RB	N/A
PR 70 RB	N/A

Proof Strike (PR) Value Chart – Red Coins (RD)

1942 Red Proof Wheat Penny
Grade Names	Coin Values
PR 60 RD	N/A
PR 61 RD	$37
PR 62 RD	$47
PR 63 RD	$65
PR 64 RD	$107
PR 65 RD	$175
PR 66 RD	$987
PR 67 RD	$4,000
PR 68 RD	N/A
PR 69 RD	N/A
PR 70 RD	N/A

Cameo (CA/CAM) Proof Strike (PR) Value Chart – Red Coins (RD)

1942 Red Cameo Proof Wheat Penny
Grade Names	Coin Values
PR 60 CA/CAM RD	N/A
PR 61 CA/CAM RD	N/A
PR 62 CA/CAM RD	$162
PR 63 CA/CAM RD	$282
PR 64 CA/CAM RD	$492
PR 65 CA/CAM RD	$1,500
PR 66 CA/CAM RD	$2,300
PR 67 CA/CAM RD	$12,000
PR 68 CA/CAM RD	N/A
PR 69 CA/CAM RD	N/A
PR 70 CA/CAM RD	N/A

What Makes A 1942 Wheat Penny Valuable?

Many factors contribute to a 1942 wheat penny’s value, including grading, special designations, and strike type.

Let’s start with grading.

Grading

Grading is an essential part of a 1942 penny’s value.

For example, mint-state grades take circulation-strike brown 1942 wheat pennies from being worth literal pennies to over ten dollars in value. 

Higher grades take circulation-strike red pennies from $6 all the way up to $10,000 or more.

Proof coins also see significant increases in value from higher grades, especially the red version.

Rarity

The Mint minted the 1942 wheat penny approximately 950,116,600 times across all of its versions. Please see the following list for the breakdown for each version:

• 1942: 657,796,000 minted in Philadelphia^4,10
• 1942-D: 206,698,000 minted in Denver^2,11
• 1942-S: 85,590,000 minted in San Francisco^3,12
• 1942 Proof: 32,600 minted in Philadelphia^13,14

The high mintage of this coin does not add to its overall value.

Mint Marks

The U.S. Mint minted 1942 wheat pennies in three locations: Philadelphia, Denver, and San Francisco. 

All three versions remain identical or nearly identical in value.

Strike Types

1942 wheat pennies have two strike types: circulation and proof.^18,19

Proof versions are far more valuable than the circulation versions.

Design Variations

1942 wheat pennies have no design variations.

Special Designations

1942 wheat pennies have three special designations: brown, red-brown, and red.

These special designations refer to the coin’s color, specifically to how much of the original red color remains from the coin’s minting. 

Red is the most valuable, followed by red-brown and then brown.

Aside from having a proof version as opposed to a circulation version or having a higher grade, the red and red-brown special designations add significant value to regular 1942 wheat pennies. 

Error Coins 

Error coins are valuable for 1942 wheat pennies.

Examples of such errors include but are not limited to the following:²⁰

• Struck off-center errors
• Broadstrike errors
• Wrong-cent planchet errors
• Die break errors

Of these, the wrong-cent planchet errors are the most valuable, increasing a 1942 wheat penny’s value by thousands. 

The rest are comparable in value, increasing it by tens or hundreds.

Die Varieties

The two main die varieties for 1942 wheat pennies are the repunched 1942-D wheat penny and the repunched 1942-S wheat penny.^22,23 These are also referred to as 1942-D/D and 1942-S/S wheat pennies.

Both varieties add tens or hundreds of dollars in value to 1942 wheat pennies, typically for the red versions, which are the most sought-after.

Pattern And Die Trial Coins

1942 wheat pennies have quite a few pattern/die trial coins.^24-27 

For reference, these are coins struck with a different metal, such as aluminum or brass, in order to test a design for the coin. 

These are rare and often add significant value to the coins. This value can potentially reach hundreds of thousands of dollars.

Composition

The 1942 wheat penny is a 95% copper and 5% tin and zinc coin. This does not add to the coin’s value.

We recommend against melting any coin down as they are almost always worth more selling them intact than for their melt value.

How Do You Know If You Have A Valuable 1942 Wheat Penny?

The best way to know if you have a valuable 1942 wheat penny (or any coin) and to get that value out of it is to have it professionally certified.

However, you can look for many elements to get you started in determining what coin you have.

Let’s start with grading.

Grading

Grading generally follows the simple rule of less is more. The fewer imperfections and wear on the coin, the higher its grade. 

Additionally, the coin should have a better shine.

Mint Marks

Check the obverse side of your 1942 wheat penny. Specifically, look under the year to the right of Lincoln. 

The absence of a mint mark indicates Philadelphia minted the coin.

A “D” mint mark indicates Denver minted the coin.

An “S” mint mark indicates San Francisco minted the coin.

You should not see any other mint mark. If you do, the coin is a fake. 

Strike Types

Proof coins feature reflective finishes, greater detail, and generally a better quality than circulation-strike coins. 

Cameo proof coins feature a contrast between the mirrored background field and the frosted design elements.

Design Variations

1942 wheat pennies have no design variations.

Special Designations

Determining if you have a red, red-brown, or brown 1942 wheat penny (or any penny) can be challenging.

Different third-party bodies have different requirements for each special designation. However, you can follow some general guidelines. 

Generally, red coins need to have almost all of their original red color remaining. 

Red-brown coins need to have most or some of their original red color remaining.

Brown coins have almost none of their original red color remaining. 

We still strongly recommend working with a professional to determine what special designation your 1942 wheat penny is.

Error Coins

Generally, you’re looking for anything unusual with error coins. These can range from the coin’s size to its color to what’s on it. Still, it’s essential to secure professional assistance to determine if your coin qualifies as an error coin or not. But, to help get you started, here are some pointers.

For struck-off-center errors, pay attention to the coin’s design. It should be shifted in one direction or another. Additionally, the design should be incomplete.

For reference, grading bodies express struck-off-center error coins in percentages. So, 10% struck off-center means the coin is somewhat off-center, while 40% struck off-center means it’s much farther off-center.

For broadstrike errors, pay attention to the coin’s size. It’ll look like there’s extra material around the coin’s design. 

For wrong-cent planchet errors, pay attention to the coin’s size, color, and design. 1942 wheat pennies could’ve been struck on dime planchets, for example. In this case, the 1942 wheat penny design will be on a smaller coin with a more silvery or grey color. 

For die break errors, pay attention to the coin’s design. You’ll see what looks like an extra strip of metal somewhere on the coin. This is the die break.

Die Varieties

Determining if you have a 1942-D/D or 1942-S/S wheat penny comes down to looking at the mint mark.^21-23 You’ll find that beneath the year on the coin’s obverse side. 

You’ll likely need a loupe or some other form of magnification for this. But when examining the mint mark, look for a faded mint mark offset from the new one. This is your indication that you have a repunched 1942 wheat penny.

Pattern And Die Trial Coins

You have a few ways to determine if you have a 1942 wheat penny that’s a die trial or pattern coin.^24-27 

The first is to look at the coin’s color. It will likely look different from typical copper 1942 wheat pennies. 

The second is to weigh the coin. It will weigh a different amount than a normal 1942 wheat penny. You will need a scale for this, as you won’t be able to tell the difference when weighing it by hand.

The third will only work some of the time. Some metals are magnetic, and others are not. 

For example, copper is not magnetic, but steel is. So, if your 1942 wheat penny is attracted to a magnet, it may be a pattern/die trial coin.

Keep in mind that people will try to capitalize on coins with this value by creating fake ones. This is why it’s essential to get the aid of a professional.

Additional Information About The 1942 Wheat Penny

History

The Mint first produced wheat pennies in 1909. The reason was to celebrate the centennial of President Abraham Lincoln’s birth in 1809. 

Prior to this year, pennies were Indian Head or Indian cents, featuring a Native American on the obverse and a wreath on the reverse.

Additionally, prior to the wheat penny, also called the Lincoln penny, no U.S. coin ever featured a real person on any side. 

However, President Lincoln was a popular president even well after his birth and assassination. Many people had already requested him to be on a coin, and the president at the time, Theodore Roosevelt, was also interested in such a decision.

He chose Victor D. Brenner as the designer.

Ultimately, President Howard Taft took office during the designing process and oversaw its completion.

^{Sources: 18-19,28}

The Coin’s Obverse Side

The obverse side of the 1942 wheat penny features President Abraham Lincoln’s profile facing to the right. 

The words “In God We Trust” curve above his head, following the upper rim. 

The word “Liberty” sits to the left of Lincoln. The year sits to his right.

You’ll see a mint mark below the year if the coin has one.

No mint mark means it’s from Philadelphia.

A “D” mint mark means it’s from Denver.

An “S” mint mark means it’s from San Francisco.

^{Sources: 1-3,10-12}

The Coin’s Reverse Side

The reverse side of the 1942 wheat penny features the words “One Cent” filling the center. Beneath them are the words “United States Of America.” 

Flanking them on either side are two strips of wheat following the rim’s curve. 

The words “E Pluribus Unum” follow the top rim’s curve. They mean “Out of many, one” and are the motto of the United States Of America.

^{Sources: 1,10}

Why Are Wheat Pennies Called That?

Wheat pennies got their name from the two stalks of wheat on the reverse side of the coin.

Sources

1942 Wheat Penny Value Guide Sources