What is the value of a 1942 wheat penny?

The Lincoln penny’s first time was in 1909 in USA history to celebrate the 16th President, Lincoln. These pennies face many changes in design and composition also made. The Lincoln pennies are highly collected coins in the USA. The 1942 penny is also an important coin that comes with different values and grades based on condition and has about 10,000 dollars for high grades and conditions. Here we will learn different factors for finding the value of 1942 pennies. So let’s get started with what is the value of a 1942 wheat penny?

1942 Wheat Penny Value Chart

1942 Penny	Good	Fine	Extremely Fine	Uncirculated (MS 60)	MS 65	MS 66	MS 67	MS 67+	MS 68	PR 67 CAM
1942-S Wheat Penny	$0.17	$0.22	$0.60	$1.25	$30	$40	$180	$580	$9,500	–
1942-D Wheat Penny	$0.22	$0.33	$2.00	$8.00	$23	$30	$167	$530	$8,000	–
1942 (P) No mint Mark Wheat Penny	$0.17	$0.22	$1.00	$2.00	$23	$40	$200	$1,000	$3,960	–
1942 (P) Proof Wheat Penny					–	–	–	–	–	$18,000

History of the 1942 Wheat Penny

The first penny was made to celebrate the 16th USA president’s birthday, and a photo of the president was added to coins. Before the Lincoln pennies, there were no coins made with a photo of any person or leader. But the photo of Lincoln was added on coins since he was famous and people loved him and his services. The design of coins was made by Victor D. Brenner.

The designer initially also added on coins but removed them after some controversy and again added after his death in 1918.

In 1942 the nickel and copper were used for military use, so they replaced coins. Half dollars, dollars, dimes, and quarters were made with the use of 90 percent silver and ten percent copper until 1965, but their composition changed in the 1960s.

The composition of nickels was 75 percent copper and 25 percent nickel, and pennies were made with 95 percent copper and five percent tin or zinc.

The nickels made at the time of WWII moved to 35 percent silver that had nine percent manganese. Copper composition changes to 56 percent.

World War II Effect on The Penny’s Value

At the time of 1941, when the US first entered WWII, there was high demand for copper for the creation of military instruments. Pennies also made with copper, so its use in war changed the composition of copper in pennies to zinc-coated steel.

The 1942 Lincoln wheat penny is the last copper penny that was made at that time. Then in 1944 copper pennies were made again.

Important Points for 1942 Penny

- The 1942 penny is the last copper penny, then the composition changed due to copper use in war instruments. Condition and rarity factors define the value of the 1942 Lincoln penny, and P-minted coins are about 1000 dollars, while S-minted 1942 pennies are $9,500.
- The 1942 S Lincoln Wheat Penny has low mintage and high-value coins than others.

Features of the 1942 Wheat Penny

Obverse of the 1942 Wheat Penny

The front side of the wheat penny comes with a photo of Abraham Lincoln. The photo is facing right, and the motto IN GOD WE TRUST is also written on the coins. The word LIBERTY also can be seen. The minting date, 1942, was also written.

Mintage	950,084,000
Reverse Designer:	Victor D. Brenner
Mint	Philadelphia, Denver, San Francisco
Fineness	0.9
Weight	3.11 grams
Composition	95% copper 5% zinc
Types	Wheat penny
Obverse Designer	Victor D. Brenner

1942 Wheat Penny Grading

The grading of 1942 pennies is based on colors, condition, and grade. The common color combinations where we can get these pennies are red, red-brown, and brown. The grading of coins is measured with the use of the Sheldon scale, which is important for finding the value of coins. The coins in good preserved state are of high value. Normally grading is 1 for poor condition and perfect conditions are 70 grade. Coins with grades from 60 to 70 are MS or mint state.

Proof coins also have the same grading system but are measured in PR for proof and not MS or mint state.

Some different grades for 1942 wheat pennies are

Number	Grade
1	Basal State-1
2	Fair
3	Very Fair
4, 5, 2006	Good
7, 8, 10	Very Good
12, 15	Fine
20, 30	Very Fine
40	Extremely Fine
50	About Uncirculated
60 to 70	Mint State

1942 No Mint Mark Wheat Penny Value

The 1942 Philadelphia Wheat Cent does not have a mint mark. There were about 657,796,000 coins made by P mint in 1942.

The brown-red AU-grade coin sold in 2010 for 2990 dollars, and the 1942 MS69 red color sold for $3,960 in December 2021. The PR65 grade coins sold for 145 dollars.

1942 D Wheat Penny Value

The 206,698,000 pennies in 1942 with the D mint mark and these pennies in good condition can be worth thousands of dollars. The red MS67+ grade 1942 D sold for 2000 dollars, and in average conditions, the 1942 D penny has value for face value.

The MS68 1942 D penny with red color sold for 12650 dollars in 2008, and the same coins sold for 11500 in 2006.

Now it has a value of about $8000.

1942 S Wheat Penny Value

The San Francisco Mint made 85,590,000 1942 wheat pennies. That is a lower quantity than other pennies but is higher value than other 1942 D and P minted coins. The 1942 S pennies that are more than MS67 grade are about 2300 dollars or higher.

The 1942 MS 68 red coins sold for $7,800 in 2021.

1942 Proof Wheat Penny Value

The S mint normally made proof coins, but 1942 proof pennies were made by Philadelphia. The red color 1942 proof CAM is about 17,000 dollars. CAM coins come with a mirror-like finish, and they are made with the use of specially made planchets and special dies.

1942 Wheat Penny Errors

1942 Wheat Penny Double Die Obverse Error

The double die error is a result of the hubbing process when the die changes alignment that causes a doubling effect on the design or letter on coins. The double die error on the coin’s front side can be seen on the eyelid of the coin, and coins with this grade, AU53, have a value of 150 dollars.

The LIBERTY letter also has doubling affected, and coins with this error have a value of about 500 dollars for MS63 grades.

1942 Wheat Penny RPM Errors

Older coins were minted with a manual process, and so repunched mint mark errors can be seen on coins that occur on coins when the mint mark was printed on the coins two times. The D mint mcoins with D over D are called the 1942 D/D RPM error, and these coins sold in 2022 for 1130 dollars with MS75 red toning.

1942 San Francisco Cent also comes with a re-punched mint mark error that comes with S over S and an error called the 1942 S/S RPM error. The 1942 S/S RPM red MS67 grade coins sold for 1763 dollars in 2020.

DDO + RPM Error

In some conditions, coins come with both DDO errors and re-punched mint marks at the same time. Where we can see doubling effects in coin design and letters with RPM D/D or S/S or, in some conditions, S/D. Coins with 1942 Wheat Penny DDO + RPM Error sold for 500 dollars in MS65 grade. The 1942-S Wheat penny with MS67RD sold in 2019 for $2,350.

Penny struck on planchet error

Sometimes the coins are minted with thick planchets that make the coins high weight. So it called 1942 a thickck planchet error where the weight of coins become 4.11 grams and 3.11 grams. Coins with this error can be sold for $1700.

Off-Center Error

If coin design is not accurately printed on coins and shifted from the middle of coins, it makes off-center 1942 pennies. The percentage of this error defines the value of coins. Normally, five to ten percent off-center errors are low-value coins, and about fifty percent are high-value with clear details and mint marks. The 40 percent off-center error coins are about 2500 dollars.

Penny Struck on Brass Planchet Error

In this error, coins struck on the brass planchet affect the coin’s colors and make changes in look as well. Coin with this error has a value of about 130 dollars, which is higher than mint state coins.

Rare 1942 Penny Errors

Double Die Error: $500 to more than $1,000.
Struck on a thick planchet: $100 to $1,600 higher
Mirror Brockage Obverse 40% Off-Center: $2,500 or more.
Obverse Struck Thru Error $485.
Struck on a brass planchet: $10,000 to more than $100,000.

FAQs

How do I know if my 1942 wheat penny is worth money?

The 1942 penny value is based on condition, mint mark, and rarity. The penny in circulation has a value of about 25 cents, and uncirculated coins are worth about three dollars to USD 3,000.

What penny sold for $1.7 million?

The 1943 copper penny is important in US history and sold for $1.7 million.

Are 1942 pennies steel?

There is no steel penny made in 1942 and steel pennies made in 1943. Silver coating made with zinc.

What is the value of the 1942 No Mint Mark Wheat Penny?

The Philadelphia Mint made the largest number of pennies in 1942, and they are about their face value. The average condition of 1942 no-mint mark pennies is about 35 cents; in mint state, they may be about three dollars if there is no error. 1942 wheat penny-proof pennies without mint marks sold for 17,000 dollars with red color and PF 67 grade.

Is the 1942 wheat penny so valuable?

The 1942 penny was made with copper and nickel and has rarity at the time of war since it was used for war purposes. These are the last years when pennies were made before the war. War pennies have a steel coating of zinc. So 1942 pennies are high value, and most collectors are attracted to these coins.

Is the 1942 wheat penny valued at $85,000?

The 1942 wheat pennies are made with copper, so they are high value and can have a value of about $85,000+.

What is the value of a 1942 proof penny?’

The value of a 1942 proof penny is about 65 dollars to more than 2000 dollars.

How many 1942 copper pennies were made?

657,796,000 1942 pennies were made by the Philadelphia Mint; the Denver Mint made 206,698,000 pennies, and the San Francisco Mint made about 85,590,000 1942 Lincoln pennies.

What penny is worth $50,000?

1959-D Lincoln Cent mule with the 1959 D front side having the 1958 wheat reverse is a high-value coin and sold for $50,000 in recent auctions.

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