Lincoln’s portrait on the wheat penny is a common sight for many collectors. This coin design was minted from 1909 to 1958. So, having a wheat penny in your pocket is no big deal.
Lincoln’s portrait on the wheat penny is a common sight for many collectors. This coin design was minted from 1909 to 1958. So, having a wheat penny in your pocket is no big deal.
But, if you have specific wheat pennies from 1944, you might be owning valuable assets right now!
In today’s guide, we will talk about the 1944 wheat penny value in great detail. From its different varieties to rare errors, we will discuss everything to understand the actual worth of these vintage treasure troves. Let’s get started!
Mintmark Good Extremely Fine MS-60 MS-67
1944 No Mint Mark Wheat Penny Value $0.05
$0.15 to $0.20
$4
$200 to $300
1944 D Mint Mark Wheat Penny Value $0.05
$0.20
$6
$500 to $1000
1944 S Mint Mark Wheat Penny Value $0.05
$0.30
$8 to $10
Up to $3000
1944 Steel Wheat Penny Value –
–
$40,000+
Up to $500,000
1944 No Mint Mark Wheat Penny Value
In 1944, the Philadelphia mint struck 1,435,400,000 wheat pennies and crossed the 1 billion mark. It was the first time any coin series crossed this mark and also the highest number in the wheat design series.
Given the stats, the 1944 no-mint mark wheat penny is not so rare, but there is still a high demand for high-grade pennies in mint condition.
Furthermore, the easiest way to identify this variation of the 1944 wheat penny is to check for the mint mark. If there is none, the penny is from Philadelphia.
The most fascinating part about the 1944 Penny is that it was manufactured from recycled ammunition shell metal. Plus, Victor David Brenner designed it, marking the return of Lincoln pennies with copper material.
The 1944 no-mint mark wheat penny consisted of copper and zinc only, unlike its previous counterparts, which also had tin.
Since it is the most common of the four variations, the typical value of an unmarked 1944 wheat penny is between two to four cents. It can also range from $1.75 to $2, depending on the condition, market, and the coin itself. Most times you can get it for more than its face value.
According to PCGS, the auction record for the 1944 unmarked wheat penny value of CHBU grade is $22000. A CHBU grade, or a CHOICE BU grade, refers to uncirculated coins in perfect mint condition. Coins with this grade are not spotted or toned but are hand-picked from rolls and other sources based on their beauty.
Also, if you have other coins and want to lookup the value, Coin Value Lookup is a great coin value resource for you.
The 1944 D Mint Mark Wheat Penny has a little “D” mark on them, meaning that the penny was minted at the Denver mint. It struck around 430, 578, 000 coins, marking the eighth-highest year of production and making it a not-so-rare collectible. It has smooth corners.
The obverse side of the coin features Abraham Lincoln facing right, with the words “IN GOD WE TRUST” arching over the top. On his backside, the word LIBERTY is written, and on his front, the year. The reverse side depicts two stalks of wheat, hence the “wheat penny” name.
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Since the 1944 penny was minted during WW2, the government did not use copper to save resources to make weapons for the war. However, the public was unsatisfied and complained that the penny was corroding too fast. Some people also complained that it was indistinguishable from a dime, and they couldn’t tell apart the difference from afar.
To solve this issue, the government started minting coins composed of copper. Now, the coins didn’t rust quickly and were easily distinguishable.
The 1944-D wheat pennies are readily available in average condition and can cost around fifteen cents. As the condition gets better the price increases and can go up to $2. Sometimes, if two buyers have their eyes set on the same coin, it can cause the price to increase— in a similar manner to an auction. The cost can go up to $6 depending on its condition.
According to PCGS reports, the auction record for 1944 D Mint Mark Wheat Penny stands at $22,425.
The San Francisco mint produced the lowest number of wheat pennies in 1944. Its total mintage was 282,760,000. That’s way less than Philadelphia and Denver mintages!
But this doesn’t mean finding a 1944 S mint mark wheat penny is a big challenge. You can easily find it on online e-commerce stores like eBay and Etsy. However, if you want to get a hold of authentic, high-value coins, auctions are the place to go.
A 1944 S mint mark wheat penny follows the same design pattern as the others. It has an Abraham Lincoln portrait on the obverse side. There’s also the phrase In God We Trust on the top.
On the reverse, the face value of the coin is embossed along with the country’s name and the famous Latin inscription. As mentioned before, this masterpiece was created by Victor David Brenner back in 1909.
The worth of a 1944 S mint mark wheat penny is also similar to other variants in circulated condition. A good-condition coin will sell for $0.05, whereas an extremely fine coin will sell for $0.30.
That’s quite affordable, which is why many newbie collectors start their collection from these circulated coins. If you want to have a valuable specimen, look at the uncirculated coins that have an MS grade.
At MS-67, the price of a 1944 S mint mark wheat penny is between $120 to $200. However, at auctions, the price hikes up to thousands of dollars. PCGS auctioned a 1944 S mint mark wheat penny MS-67+ for $3290 in 2016 !
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The 1944 steel wheat pennies were an accident. There was no intent to produce a variant with a different material than the regular 1944 wheat pennies. However, when leftover sheets of steel got mixed in with brass sheets, these pennies were minted.
In terms of appearance, the obverse and reverse side of the 1944 steel wheat penny looks just like a regular one. There is Lincoln’s side portrait, the phrase In God We Trust, and all other typical wheat penny features.
The only difference is the material. While all 1944 wheat pennies are made from copper and zinc, this variant was minted in pure steel .
It is estimated that there are around 30 to 40 specimens of the 1944 steel wheat penny. The majority are the ones without a mintmark, which suggests that they were minted at the Philadelphia mint.
You will also find a few coins with S or D. Depending on the mint mark, you can identify whether the coin was struck at San Francisco or Denver mint.
With all that said, the worth of a 1944 steel wheat penny is enormous. Since there were only limited quantities produced, people collected and maintained them all these years. These well-preserved coins start at $40,000 per piece!
If you go to higher MS grades, the value further increases to six figures. For example, PCGS auctioned a 1944 D mint mark steel wheat penny (MS-63) for $115,000 . It sold another S mint mark specimen (MS-66) for an amazing $408,000!
If you want to know the true worth of an penny , it is important to check its grade. This may appear as good, XF, MS-66, or any other combination. But what do they mean?
First of all, you should know that these grades are part of the 70-point Sheldon Grading Scale used by professional coin gradings organizations like NGC and PCGS. Each grade defines a particular condition of the coin. Here are some examples:
Good – the coin is heavily damaged due to circulation. Most of its details have faded, but the lettering and overall design are visible.Extremely Fine (XF) – the high-relief parts of the coin have flattened. However, the majority of details are evident.Uncirculated (MS) – the coin is very well-preserved with little to no damage to the features.
Check out this useful video to learn more about coin grading!
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