Finding a Lincoln penny is no big deal. There are hundreds of them in circulation, and you may still have several in your pocket. But, if you have a shiny and well-preserved 1945 penny, you have hit a jackpot!
The 1945 Lincoln wheat penny has great historical significance. Its value can vary from a dollar to hundreds of grand. Even in its worst condition, the 1945 penny value will be more than one cent.
In today’s post, we will talk about the 1945 penny in great detail. We will discuss its history, value, varieties, grading, errors, and everything else you need to evaluate the penny’s worth properly. Let’s dig in!
1945 Penny Value Details
- Category: Lincoln Wheat Penny
- Mint: Philadelphia, Denver, San Francisco
- Mintage: 1,488,553,000
- Obverse Designer: Victor D. Brenner
- Reverse Designer: Lyndall Bass
- Composition: 95% copper, 5% zinc
- Diameter: 19.05 mm
- Thickness: 1.52 mm
- Weight: 3.11g
Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)
1945 Penny Value Chart
| Mint Mark | Good | Extremely Fine | MS-60 | MS-67 |
| 1945 No Mint Mark Penny Value | $0.05 | $0.05 | $0.30 | $260 |
| 1945 “S” Mint Mark Penny Value | $0.05 | $0.05 | $0.30 | $100 |
| 1945 “D” Mint Mark Penny Value | $0.05 | $0.05 | $0.30 | $175 |
1945 Penny Value and Varieties
1945 No Mint Mark Penny
- Type: Lincoln Wheat Penny
- Edge: Plain
- Mint Mark: No Mint Mark
- Place of Minting: Philadelphia
- Year of Minting: 1945
- Face Value: $0.01
- Price: $0.05 to $260+
- Quantity Produced: 1,040,515,000
- Designer: Victor D. Brenner
- Composition: 95% copper, 5% zinc
- Mass: 3.11g
- Diameter: 19.05 mm
The 1945 no-mint mark penny is the most common one in the series. A total amount of 1,040,515,000 was produced at the Philadelphia mint. That’s the 2nd largest mintage of wheat pennies between 1909 to 1958!
So, don’t be shocked if you find a no-mint mark penny in your pockets. It’s a highly circulated coin, and several collectors already have it in their collections. This is why the average value will be 5 cents to 15 cents.
But, if the cent is uncirculated, in fine condition, or has its original copper red color, you can expect the prices to rise to hundreds. According to NGC, the highest recorded value of the 1945 no-mint mark penny (graded at MS-67) is $260. You can sell the coin for more or less depending on the exact condition.
Coins with higher grades have worth in thousands. For example, a 1945 MS67+ Red coin was auctioned for $4,465 in 2015, and the only 1945 no-mint mark penny MS-68 sold for $5,250 in 2018.
No other 1945 penny from the Philadelphia mint has been bought for more than this price. However, if you think your Lincoln wheat penny has similar potential, contact a professional coin appraiser at your earliest convenience!
1945 “D” Mint Mark Penny
- Type: Lincoln Wheat Penny
- Edge: Plain
- Mint Mark: D
- Place of Minting: Denver
- Year of Minting: 1945
- Face Value: $0.01
- Price: $0.05 to $175+
- Quantity Produced: 266,268,000
- Designer: Victor D. Brenner
- Composition: 95% copper, 5% zinc
- Mass: 3.11g
- Diameter: 19.05 mm
Identifying a 1945 “D” mint mark penny is very simple. On the front side, there will be a small letter D under the date 1945.
Please note that the mint marks tell us the place of mintage. In the case of 1945 “D” pennies, around 266 million coins were produced at the Denver facility. Each one of them features an embossed D.
Similar to other variants, the general value of a 1945 “D” mint mark penny is between $0.05 to $0.15. These pennies have grades up to 59. However, any grade above that means a value in dollars and not cents.
A 1945 “D” mint mark MS-64 penny sells for $2. This uncirculated coin will have a great shine and high aesthetic appeal. Upon examination, you will find a few flattened and worn-out areas on the coin.
Pennies in a much better state will value at $175+. If you have an MS-68 (near perfect condition) 1945 penny, the price can rise to thousands. For example, a 1945 D MS-68 penny was auctioned for $18,500 in 2018.
1945 “S” Mint Mark Penny
- Type: Lincoln Wheat Penny
- Edge: Plain
- Mint Mark: S
- Place of Minting: San Francisco
- Year of Minting: 1945
- Face Value: $0.01
- Price: $0.05 to $100+
- Quantity Produced: 181,770,000
- Designer: Victor D. Brenner
- Composition: 95% copper, 5% zinc
- Mass: 3.11g
- Diameter: 19.05 mm
The 1945 “S” mint mark penny was produced in the lowest number at the San Francisco mint. A total of 181,770,000 coins were minted with a small letter S printed under the date on the obverse side.
The average price for a good to extremely fine 1945 “S” mint mark penny is $0.05. These circulated coins have considerable wear and marks. But, since these are the most uncommon pennies in the series, you can still get more than 2 to 3 cents for each.
Coins with higher grades have premium values. A 1945 “S” mint mark penny (graded at 55+) can easily sell for up to 40 cents. However, if you have an uncirculated or mint state 1945 “S” mint mark penny, the value will fluctuate between $10 to $35.
That’s a lot for a single penny!
With that said, the highest grade is MS-67 with a lustrous shine and minimal signs of wear. Its recorded value is $100 (as per NGC). This may not seem like a good price for a rare coin, but it all depends on how well-preserved the coin is.
Wheat pennies are very common. And so, if you want to get the highest value possible, you need to consult a professional appraiser and list the coin at auctions. Collectors are willing to pay much more when several buyers are competing for one item.
1945 Penny History
The 1945 Lincoln penny is a small copper coin that was produced at three United States Mints. These include:
- Philadelphia
- San Francisco
- Denver
It belongs to the Wheat Penny series which was introduced in 1909 and was designed by Victor D. Brenner. He was a great artist and sculptor, who won a competition to create a new design for the one-cent coin. But, the reverse side was designed by Lyndall Bass.
This Wheat Penny series continued until 1958 when the Lincoln Memorial penny was introduced. However, the 1945 Lincoln Wheat penny was minted during the final year of World War II.
Since this was a time of great change and turmoil in the United States and around the world, the coin holds immense historical value. Its design reflects this significance perfectly too.
The penny features the portrait of Abraham Lincoln on the obverse, with the words “IN GOD WE TRUST” and “LIBERTY” above his head. The reverse of the coin has two wheat ears that represent America’s agricultural heritage. Below it, you will find the words “UNITED STATES OF AMERICA” and “ONE CENT”.
During the 1940s, the United States Mint was working to conserve metal resources for the war effort. It’s why the 1945 Lincoln penny was struck in a composition of 95% copper and 5% zinc. Some may contain traces of tin.
Interestingly, the 1945 pennies also contain the ammunition shells that were recovered from military training. This is another reason why collectors treasure this particular penny.
However, let’s not forget that the 1945 penny is a common coin. A total of 1,488,553,000 coins were produced at the Philadelphia, Denver, and Sans Francisco mints. So, finding a 1945 penny in your pocket is not a big deal.
Despite this, collectors are highly interested in acquiring 1945 pennies in different grades and conditions. They also search for rare varieties, like cud and clipped planchet.
1945 Penny Grading
If you’re new to the world of coin collecting, the 1945 penny grading system can be difficult to understand. Here are what the common grades mean:
- Good – The 1945 penny has prominent signs of wear and aging. The luster is completely lost and the red copper color has changed.
- Extremely Fine – There are noticeable signs of wear and color fading. But the overall condition is nicely preserved.
- Uncirculated – These coins were not circulated, which explains the lack of damage. If you examine them under a magnifying glass, you will find only minimal wear.
- MS – This is the short form for mint state coins (also called proof). MS grades above 60 represent the well-maintained condition of the vintage coin. However, an MS-70 grade is the highest state of perfection. An MS-70 coin has its original shine and no sign of damage, or fading!
Check out this useful video to learn more about coin grading!
1945 Penny Errors
1. 1945 Penny-Clipped Planchet
Planchet refers to the metal sheet that is fed into the die clash machinery. Two opposing dies clash on this metal sheet to create the round-shaped coin. But, if the metal is not fed properly, the resultant coins have clipped sides.
This is called a clipped planchet error, which is common in 1945 pennies. Depending on the condition and type of clipped error, it can be sold for a good price. For example, a 1945 MS66 penny had a 7% curved clipped planchet. It was auctioned for $92!
2. 1945 Penny Double Die
A 1945 penny double die features doubled inscriptions and images. This type of error occurs when the die strikes the coin twice, but both strikes are slightly offset from each other. As a result, there are doubled lines.
Typically, you will find this error on the obverse side of the 1945 penny. The word LIBERTY and Lincoln’s portrait will have two overlapping or separate lines. If you find a 1945 penny double die coin in mint state condition (MS-63 or 65), its value will range between $100 to $500.
3. 1945 Penny Lamination Flaw
A lamination flaw occurs when the topmost layer of the coin separates from the rest of the structure. This is a manufacturing defect and not a sign of wear. You will find peeled lines and bubbles on the surface of 1945 penny lamination flaw coins.
Some pennies may also be discolored. All these rarities make this coin a high-interest item amongst collectors.
4. 1945 Penny Cud
The cud is another common mistake found in 1945 pennies. It refers to the loss of detail in Lincoln’s portrait or inscription on the coin. This particular error occurred when the die break touched the coin’s edge accidentally.
You should expect its value between $90 to $130. Since it’s not quite rare, the prices won’t be high even at higher grades. For example, a 1945 “S” mint mark MS-65 red coin was auctioned for $126.
5. 1945 Penny Broadstrike
A broad strike error coin occurs when a coin is struck without a retaining collar. This results in a coin with no edge design and often with a larger-than-normal diameter.
Some 1945 Lincoln pennies are known to have this error, and they can be valuable to collectors depending on their rarity and condition.
1945 Penny FAQs
How much is a 1945 penny value worth?
Generally, a 1945 penny is worth 5 cents to 15 cents. However, if the penny is uncirculated or in mint condition, you can get a lot more value.
Why is the 1945 penny rare?
The 1945 penny is a commonly circulated coin. Its total mintage was 1,488,553,000, which doesn’t make it rare at all. But a 1945 penny in uncirculated or mint condition is highly-valued. Errors, like double die and lamination flaws, are also rare to find.
What wheat back penny is worth $1000000?
In 2021, a 1943 bronze Lincoln penny (MS-63, Red) was sold for $840,000. Although this is not a million dollars, it is the nearest value offered to a coin seller yet.