If you have a collection of old coins, it is only right to find out if you have anything truly valuable. Many old coins, whether they are pennies or cents, have different values, and their true worth is not always the same as their face value.
A wheat penny is a coin with the head of Abraham Lincoln on the obverse side and two wheat stalks on the reverse side. This is why it is also called the Lincoln wheat penny.
This article is a detailed explanation of the value of the 1947 wheat penny, with the varieties and the penny condition that increases or decreases the value. You will also learn more about this penny from its long history.
1947 Wheat Penny Details
The details of the penny in your possession will determine its value. The pennies were struck in three mints, but the ones with the S mark seem to have the most value.
- Category: Wheat Pennies
- Mint: San Francisco, Denver, and Philadelphia
- Mintage: 484,305,000
- Obverse designer: Victor D. Brenner
- Reverse designer: Victor D. Brenner
- Composition: 95% copper, 5% tin, and zinc alloy
- Edge: Plain
- Weight: 3.11 grams
- Diameter: 19 mm (0.75 inches)
Each 1947 wheat penny mint has a distinct characteristic to help you tell which coin you have. As mentioned in the table above, there are three mints for this particular wheat penny. Typically, the coin should have a mint mark on the obverse side, right under the minting date.
The Philadelphia mint, which is the main mint, produced 190,555,000 coins that year, and you can tell you have one of these coins if there is no mint mark on it. The Denver mint produced more coins in 1947 than the main Philadelphia mint, producing 194,750,000 coins.
But to tell the Denver coins apart from the Philadelphia coins, you will notice there is a D under the minting date on the obverse side. Then, the third mint, which is the San Francisco mint, produced 99,000,000 coins in 1947. Its mint mark is an S under the mint date.
Apart from these mint marks, the coins look, feel, and weigh the same. Their edges are plain and the colors are somewhat red because of the main copper composition. However, their market values are not the same because some are higher on the rarity scale than others.
Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)
1947 Wheat Penny Value Chart
Let’s look at the value of each 1947 wheat penny based on its condition and mint mark.
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1947 No Mint Mark Wheat Penny Value | $0.05 | $0.05 | $.10 | $12.50 |
| 1947 ‘D’ Wheat Penny Value | $0.05 | $0.05 | $0.10 | $30 |
| 1947 ‘S’ Wheat Value Value | $0.05 | $0.05 | $010 | $25 |
In a few cases, some coin collectors prefer coins with a little character. That is, they want coins with a little back story and wear. These seem to add value and these collectors are willing to pay more for them than for others.
Note that the uncirculated version of the 1947 wheat penny comes in three colors or luster. Some have a brighter tone than others, although they may all be uncirculated. This is usually determined by how they are preserved.
You may notice that three uncirculated coins have three different tones. One may be the bright color of copper, the way it would appear straight from the mint. The second coin may have a duller tone, slightly reddish brown but not as bright as the first. The third may have a brown tone, looking worn and dull.
All three are uncirculated 1947 wheat pennies. However, the first coin with a bright color is usually more desirable to coin collectors than the rest, so they tend to cost more. Therefore, you must check the tone or color of the uncirculated coin in your possession to determine its true value, even if all of them are in an uncirculated condition.
Grade
Another pointer to the value of your 1947 wheat pennies is the grade. This refers to the condition of the design points on the coin. For example, check the line separating Lincoln’s neck, bow tie, and shirt of the burst. The line should be well-defined on a coin in excellent grade.
This part is the first to experience wear when in use. So, if this line on your coin is in sharp relief from other designs around it, the coin is in excellent condition. The same applies to the coat lapel line on the front of the coin.
1947 Wheat Penny Values and Varieties Guides
Here, we explain each coin type in detail.
1947 No Mint Mark Wheat Penny Value
- Type: Lincoln wheat penny
- Edge: Plain
- Mint mark: None
- Minting Location: Philadelphia
- Year of minting: 1947
- Face value: One cent
- $ Price: $0.05 to $12.50
- Quantity produced: 190,555,000
- Designer: Victor D. Brenner
- % Composition: 95% copper, 5% tin, and zinc alloy
- Mass: 3.11 grams
- Diameter: 19 mm (0.75 inches)
You will find that the Philadelphia mint is the main mint that struck the 1947 wheat penny. It is the wheat penny without any mint mark. The pennies are Abundant in circulation based on the rarity scale and are not the most valuable on the market.
Most of the coins from the Philly mint are available and are typically worn out. Lincoln’s burst will most likely no longer be in sharp relief because they are the most abundant of all the 1947 wheat coins in circulation. That is also why its value is the least, based on the chart above.
That does not mean there are no uncirculated coins or those in mint condition, although they are still the least valuable of all the minted ones. However, these types are rare, so if you have one in mint condition, it may fetch you good money. The most expensive one t date sold for about $9,000 about a decade ago.
1947 ‘D’ Wheat Penny Value
- Type: Lincoln wheat penny
- Edge: Plain
- Mint mark: D
- Minting Location: Denver
- Year of minting: 1947
- Face value: One cent
- $ Price: $0.05 to $30
- Quantity produced: 194,750,000
- Designer: Victor D. Brenner
- % Composition: 95% copper, 5% tin, and zinc alloy
- Mass: 3.11 grams
- Diameter: 19 mm (0.75 inches)
The Denver mint is only a branch producing the pennies, but it struck more 1947 wheat pennies than the main Philadelphia mint. From that year into the 1950s, the Denver mint struck more wheat pennies than other mints, including the main one.
The coins from this mint also appeared sharper and clearer. The details were in sharp relief and the color was brighter than the others throughout the ‘50s. You may discover that the sharpest and brightest coins in your collection have the ‘D’ mint mark.
Wheat pennies with the ‘D’ mint mark are also Abundant on the rarity scale. This means there are many ‘D’ wheat pennies in circulation. Its abundance does not reduce the value, which is between $0.05 and $30 for the mint-state coins.
However, there are mint-state ‘D’ coins that are in high demand and come at a good price. A mint-state ‘D’ wheat penny was bought at $1920 in 2020, which is the most expensive Denver wheat penny sold to date.
1947 ‘S’ Wheat Penny Value
- Type: Lincoln wheat penny
- Edge: Plain
- Mint mark: S
- Minting Location: San Francisco
- Year of minting: 1947
- Face value: One cent
- $ Price: $0.05 to $25
- Quantity produced: 99,000,000
- Designer: Victor D. Brenner
- % Composition: 95% copper, 5% tin, and zinc alloy
- Mass: 3.11 grams
- Diameter: 19 mm (0.75 inches)
This San Francisco minted wheat penny type is the least struck of the 1947 coins. The reason lies in the tight budget in the country following the second world war that had just ended. As a result, the mint only struck about 99,000,000 wheat pennies that year.
Due to the lack of money in the economy, the wheat penny coins with an ‘S’ mint mark have the lowest quality. The mint dies wore out and dried up, but there was no money to replace them. The mint simply cleaned the dies, polish them, and continue using them.
The result was that the strike was poor, although the coins were shiny like the typical coins. However, collectors seem to be more interested in collecting wheat pennies with the ‘S’ mint mark, despite their low quality and grading. They have more market value than the no-mint mark pennies.
1947 Wheat Penny History
The wheat penny has a long history and was manufactured for many years, starting from 1909. Minting of the penny ran until 1958, about 50 years after the first minting. The obverse has the face of the beloved president Abraham Lincoln, while the reverse has two wheat stalks, hence the name.
The primary reason for minting these coins was to celebrate the 100th anniversary of President Lincoln. On the 2nd day of August 1909, after then President Theodore Roosevelt ordered the minting of these coins to celebrate his predecessor, the first of the coins went into circulation.
Before then, no other U. S coin had the face or burst of an actual person. So, the 1947 wheat pennies became the first to accomplish this feature in the history of the nation. These coins came when the effects of the second world war were still in the air, affecting economies around the world.
However, the initial production was met with cheers and jubilation because of the face of Lincoln. Also, the initial coins were minted without the hassle of a tight budget, so they have excellent quality. But the engraver, Victor D. Brenner, engraved his initials into the coins made in the first year.
This caused controversies and an uproar, resulting in the U.S. Treasury secretary ordering that the initials be removed. Therefore, subsequent minting did not carry the initials, although millions of pennies had gone into circulation before the order came.
1947 Wheat Penny Grading
The scale for coin grading goes from 1 to 70. 1 is the lowest grade, where the coin is almost completely worn and there are hardly any visible details on it. 70, on the other hand, is the best condition, which is rare.
This type has the best value on the market. However, this is not the only determiner of the value of the almost obsolete pennies.
Below is a video explaining the grading and value of wheat pennies with different mint marks.
List of 1947 Wheat Penny Errors
There are a few errors in the 1947 wheat pennies, and this section briefly explains them.
1. 1947 Wheat Penny Lamination Error
Contaminants in the alloy material affect the surface of the coin, causing it to crack. This is a common error in the wheat penny of 1947 because of its solid alloy composition. Interestingly, this error can increase the coin’s value by a margin.
2. 1947 Wheat Penny Doubled Die Error
During hubbing, the doubled die error can occur. Hubbing is the process of transferring the design of the coin to the die. The hub typically strikes the die a few times to get the design fully transferred.
However, it may slightly change the angles, which causes the design to double or triple. Some of the coins with these errors are worth more than others without the error.
3. 1947 Wheat Penny Off-center Errors
This type of error occurs when the die strikes a blank coin and hits outside its holding collar. The problem typically stems from improperly placing the blank coin off the center.
So, when the die strikes, the image or design appears off the center of the coin. Coins with this error can attract a good sum if the collector likes their rarity or oddity.
This video explains more of the errors typically found on a 1947 wheat penny
1947 Wheat Penny FAQs
Is a 1947-S Penny worth anything?
A typical 1947-S wheat penny is not worth much, with its value ranging between $0.05 to $25. However, the value actually depends on the condition and the collector. Some collectors place value on the condition, grading, and oddities.
Others do not mind if the coin has seen some wear and tear. In some cases, they want those coins with a story behind them.
What wheat back penny is worth $1000,000?
The 1943 bronze wheat penny or Lincoln cent is worth one million dollars ($1,000,000). It is a penny with a ‘D’ mint mark and was initially sold for about 1.7 million dollars in 2010. However, it was resold in 2021 for about $840,000. This is the most expensive known wheat penny sold to date.
What wheat penny is rare?
The 1914 non-error wheat penny is the rarest and most valuable. It can sell for as high as $4000 or as low as $280.
I have a silver (I assume it is steel) 1947D penny. How much is it worth?