1940 Wheat Penny Value: How Much is it Worth Today (Price Chart)

The value of a 1940 wheat penny for average condition is about 35 ent and mint state can be about sixteen dollars. The 1940 wheat penny coins come with a photo of Lincoln 16th president of the US. Here we will discuss the 1940 wheat penny value, error, and types. Let’s get started with 1940 Wheat Penny Value: How Much is it Worth Today (Price Chart)

History 1940 Wheat Penny

The 1940 wheat penny is the most minted coin in USA history. These coins were made in P, S, and D mints. These coins are made with the use of three copper tin and zinc metals and the copper composition is high. 586,810,000 1940 pennies made at P mint. That does not come with a mint mark. P mint also made the 15000 proof coins. These coins now are rare and not easy to find can be in certain collections. Most 1940-proof coins look good. The S mint made 112,940,000 1940 Wheat pennies. Most collectors preferred 1940 S coins with brown or light tan coloring not having dark spots. Denver Mint made 81,390,000 coins with the D mint mark.

1940 Wheat Penny Value

Features 1940 Wheat Penny

  • Its weight is 3.11 grams and its diameter is 19.05mm
  • It has a thickness of about 1.55 mm and a smooth edge.
  • it is made with 95% copper, 5% tin and zinc

Front (Obverse) of 1940 Wheat Penny

The front side of this coin comes with a photo of Abraham Lincoln 16th US president. if the mint mark exists add it below the minting year. There is no mint mark on this coin for P mint. The words IN GOD WE TRUST are added on top of the coin over the Lincoln head and the word LIBERTY was also written on the front side of this coin.

Back (Reverse) of 1940 wheat penny

On the reverse side of the wheat, the penny comes with two wheat stalks with the words One CENT and the phrase E PLURIBUS UNUM  also written on this side. The wheat stalks on the coins were replaced in 1959 at the 150th birthday of Lincoln with the Lincoln Memorial.

Some other features of the 1940 Lincoln wheat penny are:

  • Its face value is one cent
  • It has a composition of 95% copper plus tin and zinc
  • 0.10970 ounces is weight  and dia is 0.75 inches
  • its thickness is  0.05984 inches  with a round shape

1940 Wheat Penny Value Chart

Condition/Grade 1940 No Mint mark wheat penny 1940 D wheat penny
1940 S wheat penny
Good $0.17 $0.17
Very good $0.20 $0.20
Fine $0.22 $0.28
Very fine $0.45 $0.67 $1
XF $0.67 $0.85 $1
AU $1.13 $2.28 $2

1940 Wheat Penny Value Chart

1940 No Mint Mark Wheat Penny Value

The P mint made the largest number of coins and made about 586,810,000 Lincoln wheat pennies in the first war year. The average coins made in this year are less cost and can be sold for less than forty dollars.  Pennies with red toning have a high cost for high grades and have a value of thousands of dollars.

  •  MS 68 (Red)=$14,950 ( sold at auction in 2006)
  • MS 62 (Red)=$4
  • MS 65 (Red) = $26
  • MS 67 (Red)  Philadelphia penny = $190
  • MS 68 (Red)=1940 Philadelphia penny=  $9,000
  • MS 65 (P) Wheat Penny Brown = $4.50
  • MS 65 (P) Wheat Penny  Red-Brown = $11.50
  • MS 65 (P) Wheat Penny Red = $12
  • MS 67 RD (P) Wheat Penny Superb gem uncirculated, red color = $170
  • MS 67+ RD (P) Wheat Penny =  $900
  • MS 68 (P) Wheat Penny Unspoiled, =$14,000

1940 D Wheat Penny Value

The D mint made more than 81 million wheat pennies in 1940. The pennies come with a D mint mark on the back side of the coins. The D mint made fewer coins than other mints but still had later numbers that made 1940 D wheat pennies not rare.  Their common access makes them less valuable.

  • 1940 D wheat penny in good, circulated condition= $0.05
  • 1940 D wheat penny in slightly less worn condition = .75 dollars
  • 1940 D wheat penny in grade AU58=$1.25
  • Mint State 65 grade for 1940 D wheat penny= $9.50 to $13
  • MS Brown MS65 1940 D wheat penny=  $9.50
  • MS Red MS65 1940 D wheat penny=  $13
  • Brown MS67 1940 D wheat penny= $33
  • Red-Brown MS67 1940 D wheat penny= $75
  • Fully Red MS67 1940 D wheat penny= 155 dollars

1940 S Wheat Penny Value

The S mint made 113 million Lincoln pennies in 1940. The S mint coins are higher in value than other minted coins. That can be high value since made with a worn die and sharply struck coins are rare and have a high value.

Grade Condition Price
1940 S AU58 $1.50
1940 S MS65 $11
1940 S MS65 $18
1940 S MS67+ $220
1940 S MS67++ $900

1940 Wheat Penny Error List

1940 Wheat Penny Doubled Die Obverse Error

The doubled die coins are made due to damaged die in the mint. A die that is not well-created comes with doubling in design so when the die is printed on a planchet, doubling can seen on letters of words on coins and other parts of the design. Normally we can see a doubling effect on words In God We Trust.

Clipped Planchet Error

This error occurs when the die clips the edge of the coin. This error coin comes with the value of $15 to $60.

S/S Or D/D  Mint Mark Error

In this type of error, we can see a doubling effect on mint marks D and S and it is less cost error.

1940 Wheat Penny Struck Off-Center Error

This error occurs when the planchet is not accurately positioned on the coin. when the die is struck on the coin not collide on the accurate position of the coin. As a result, the design printed is not a complete design that has the mark of the blank planchet. In this error, some parts of the design are missing.

  • MS63 grade of 5% off-center = $83 with 2.50 dollars melt value
  • MS64 40% off-center=  $200+ and melt value $2.50

Which 1940s penny is worth the most?

  • MS 68 RD = $14,950
  • PR 67+ RD = $11,163
  • S MS 68 RD = $9,600
  • D MS 67+ RD = $3,120
  • PR 65 CAM = (2009) $2,760
  • PR 63 BN =  (2001) $1,380
  • PR 64 RB = (2006) $1,150
  • MS 62 BN = (2006) $805
  • MS 64 RB = (2001) $518
  • D MS 67 RB = (2021) $336
  • 1940 S = (2019) $305
  • 1940 S MS 62 RB = (2007) $161
  • 1940 D MS 68 BN = (2010) $150

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FAQS

What years of wheat pennies are valuable?

The wheat pennies made in fewer numbers are of high value. Mostly these are made at S mint normally made less minted coins. The pennies made in 1910 and 1915 with S mint marks are rare and high value.  Brown or red or brown coins have value about their face value and have a high value for error. Red coins are high-value for MS62 grades. That has a value of four dollars and MS68 can have a value of 9000 dollars.

Is 1940 Wheat Penny Rare?

The 1940 pennies are not considered rare since a very large number of these coins were made in 1940.

What is the weight of a 1940 Wheat Penny?

A normal 1940 Lincoln penny weight is 3.11 grams.

Do all 1940 pennies have a mint mark?

The coins made at Denver and San Francisco mints come with a mintmark.

How Much Is  1940 No Mint Mark Lincoln Wheat Penny Worth?

The mostly wheat pennies made in P mint in 1940 were less costly. In some conditions, they have a value of two to forty dollars based on condition and toning.

Mint Year Grade Price Range
Philadelphia 1,940
$2 to $40 condition base
Philadelphia 1,940 MS 68 Red
$7,200 to $8,650 (rare)

What is the most valuable Lincoln wheat penny?

The Lincoln wheat penny is a bronze piece struck in 1943 in Denver and is of high vlaue. it was sold for 840000 dollars with MS64 grade in action 2021.

What is a 1940 wheat penny worth today?

Penny GOOD UNCIRCULATED
1940 Lincoln Penny $0.15 $1
1940 Lincoln Penny (D) $0.15 $2
1940 Lincoln Penny (S) $0.15 $1.75

What is the value of a wheat penny?

In good condition, their value can be $20 or $30 on average.

Which 1940s penny is worth the most

The most valuable 1940 penny (with wear from circulation) is the 1940-S penny

What year penny is worth $20000?

The special Lincoln penny made in 1992 sold more than 20000 dollars at auction. Other coins sold for more than 25000 dollars in January 2017

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