Although the pennies are the lowest denomination of American coins, they are one of the most sought pieces among collectors. The rule of thumb is that the older the versions of this coin you have, the more attractive it will be to collectors. One of the most beloved ones is definitely the penny minted in the postwar 1946 year.
Wheat penny from 1946 was made of 95% copper and 5% zinc, but the mints changed that as early as 1947. After that period, they minted pennies from 95% copper and 5% tin and zinc. Current 1946 Penny value can vary significantly since these coins were minted in Philadelphia, Denver, and San Francisco mints this particular year.
1946 Wheat Penny History
The first Lincoln penny was made in 1909, at the initiative of then-President Theodore Roosevelt, and was in circulation in three redesigns.
President Roosevelt had a clear vision of the artistic American coin’s appearance, so he met the sculptor Augustus Saint-Gaudens in 1905 to make some arrangements. Both of them agreed to redesign pennies that were in circulation at the time.
Even though Saint-Gaudens had prepared sketches for the new penny, this design never came into circulation due to the sculptor’s death in 1907. As a result, several artists participated in Roosevelt’s vision realization until 1921.
The final penny with a Lincoln profile made a Lithuanian emigrant, the sculptor Victor David Brenner. The coin was created in honor of Roosevelt’s respect for Republican President Lincoln and was released into circulation in 1909, in honor of Lincoln’s birth centenary 1809.
1946 Wheat Penny Appearance
The 1946 Penny appearance characterizes the Abraham Lincoln profile on the obverse. On the coin left side, next to the ex-president’s profile, there is the inscription LIBERTY, while you can see the minting year, 1946, on the right side. The coin’s upper edge bears the phrase IN GOD WE TRUST.
The term ONE CENT is written on the back in the center, while you can find the words THE UNITED STATES OF AMERICA below it. Two wheat stalks extend along the left and right edges, which is why this coin is often called a Wheat penny. On the upper rim is the phrase E PLURIBUS UNUM.
The 1946 Penny is precisely 0.0999 troy ounces (3.11 g) weigh, with a diameter of 0.75 inches (19.05 mm). Its thickness is 0.06 inches (1.52 mm). All 1946 Pennies contain copper mixtures from the ammunition shells recovered from the US military training grounds.
The reason for this unusual mix is the 1943 steel coins’ unpopularity. People complained because these coins rusted quickly, and many of them stated that they often confuse steel coins with dimes.
1946 Penny |
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| Location | Year | Minted | Value |
| Philadelphia | 1946 | 991,655,000 | $0.02 to 0.05+ |
| Denver | 1946 D | 315,690,000 | $0.03 to 0.05+ |
| San Francisco | 1946 S | 198,100,000 | $0.05 to 0.10+ |
| San Francisco | 1946 S over D | unknown | $10+ |
That was the reason for the US Mint to start using copper alloy from casings to produce coins. In fact, the 1946 Penny is the last coin series produced that way. The three mints produced this coin including:
- Philadelphia, without a mint mark
- Denver, with a D mint mark
- San Francisco, with an S mint mark
Although many modern collectors disagree with this, these steel pennies were often considered a nuisance in those times. Therefore, you won’t spend much money to buy one if you want to get some of these coins today.
1946 Wheat Penny Grading
Although the 1946 Wheat penny has never achieved significant value on the market, it is still desirable to determine the degree of its preservation. In that case, you need to know what you need to check if you don’t want to ask an expert for help.
Uncirculated 1946 Penny
This rating belongs to coins that have never been used. It is most likely that such a coin was left for safekeeping immediately after minting. In this way, it managed to avoid any damage and stayed in perfect condition.
Extremely fine 1946 Penny
Extra fine is a rating that has a coin with minimal damage. Such a penny usually has minor imperfections visible on Lincoln’s hair, cheek, and jaw that stand out on the flat coin surface.
You can also see the copper luster that fades and changes to yellow-brown and brown shades. In many cases, such a coin probably wasn’t in circulation at all, and it is still desirable to collectors despite these minor damages.
Fine 1946 Penny
Coins that show easily noticeable signs of being in circulation for a long deserve a fine rating. In addition to still being in good condition, you can see minor visible scratches and damage to the coin’s edge.
You can see some damage on the obverse side, particularly on Lincoln’s hair, although the curls are still recognizable. You can also notice lines on the wheat stalks merged on the coin’s reverse, but the primary image is still visible.
Good 1946 Penny
This rating belongs to coins that have been in circulation for a long, and you can spot significantly visible damage on their surfaces.
For instance, hair is recognizable only on Lincoln’s head top, and you can notice only the prominent folds on his coat. Other details of the relief are flattened and often unrecognizable.
When you look at the coin’s reverse, you will notice that the lines on the wheat stalks are mostly indistinguishable. It is the same with most wheat grains. However, you shouldn’t have an issue recognizing all the letters.
1946 Wheat Penny Types
1946 Penny without a mint mark
Image
The 1946 Wheat penny without a mint mark is a product of the Philadelphia mint. This particular mint produced 991,655,000 pennies that year, but some of these coins never came into circulation. Therefore, they are often in perfect condition.
1946 Penny value by USA Coin book |
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| Quality | 1946 | 1946 D | 1946 S | 1946 S over D |
| Good | / | / | / | $11 |
| Very good | / | / | / | $16 |
| Fine | $0.05 | $0.05 | $0.11 | $27 |
| Very fine | $0.11 | $0.11 | $0.16 | $38 |
| Extra fine | $0.22 | $0.22 | $0.22 | $81 |
| About uncirculated | $0.38 | $0.38 | $0.38 | $137 |
| Mint state 60 | $0.66 | $0.66 | $0.66 | $278 |
| Mint state 65 | $2.22 | $2.22 | $2.22 | $616 |
| Proof 63 | / | / | / | / |
That is a probable reason why some collectors prefer slightly worn specimens. For instance, one coin in mint condition (MS 67 RD) reached a record amount of $14,950 at auction in 2006.
1946 D penny
The Denver mint produced 315,690,000 pennies with the mint mark D that year. Nowadays, they are abundant and without expensive rare pieces. You can effortlessly find coins of average condition and worn ones with no visible details on Lincoln’s hair and coat.
1946 Penny value by JM Bullion |
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| Coin | Extra fine quality | Uncirculated quality |
| 1946 Penny | $0.20 | $0.35 |
| 1946 D Penny | $0.20 | $0.35 |
| 1946 S Penny | $0.20 | $0.35 |
The coin that is desirable for collectors is slightly worn out or in uncirculated condition. Unfortunately, you can find numerous 1946 Pennies with the letters curved along the edge, making them uninteresting to collectors.
1946 S penny
1946 Wheat penny with a mint mark S originates from the San Francisco mint. This coin was minted in a slightly smaller quantity than the others, and they produced 198,100,000 pieces that year.
1946 Penny value by CoinStudy, 9/27/2021 |
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| Coin | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1946 Penny | $0.02 | $0.02 | $0.04 | $0.80 |
| 1946 S Penny | $0.02 | $0.02 | $0.04 | $0.74 |
| 1946 D Penny | $0.03 | $0.03 | $0.05 | $2.84 |
That is probably a reason for their slightly higher value compared to other coins. However, they are not unique pieces, and most are highly rated. All pennies in good and fine conditions have a low price, making them attractive to collectors on a budget.
1946 S over D Penny
The S/D OMM Wheat penny is one pretty unique coin minted in the San Francisco mint in 1946. You can effortlessly identify a produced coin with a significant overpunched mint mark error by noticing an S letter stamped over the D.
Such a coin is most likely evidence of a design adjustment or results from the relocation of the work matrix from Denver to San Francisco. Such an unusual error makes it one of the more desired overpunched Lincoln cent varieties nowadays.
Like any other coin with a mistake, it is quite popular among collectors, so it has a higher value on the market. You will get at least $10 for an average piece, but the penny in a mint stage is worth more than $100 nowadays.
However, some auction prices can surprise you. One 1946 Penny S over D MS66+ RD was sold at auction for an incredible price of $3,173.
Summary
If you want to enrich your penny collection, you don’t need to spend much money. The 1946 Wheat penny is an appreciated coin among collectors, but its value will primarily depend on the condition and the type you choose from the four existing. In most cases, it will fit into every possible budget you have at your disposal.
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