1942 Wheat Penny Value – The 1942 penny, due to its high value, is a favorite among collectors. Being a numismatic coin and gem in mint condition, the 1942 Wheat penny has great worth. For your Lincoln penny, you can expect to get $0.19 in pawnbrokers’ fees on average. The coin’s higher value than its face value is also due to its high copper content.
From 1909 to 1958, it was one of the single-cent coins produced for circulation. The obverse features a profile bust of Abraham Lincoln, with a pair of wheat stalks on the reverse side. It was designed by Victor David Brenner. In 1942, the penny was first released by the US Mint.
You must know the accurate value if you want to sell or buy a 1942 penny.
So below is a summary of everything you need to know about this antique coin, including how much it costs at different numismatic levels:
History Of Design 1942 Penny
The 1942 penny has a history that stretches back over three decades, even before it was minted. President Theodore Roosevelt voiced his worry in 1904 over the American coinage’s lack of artistic appeal. As a consequence, the current coinages needed to be aesthetically improved.
The President, via the US mint, commissioned sculptor Saint-Gaudens for the job, but Saint-Gaudens died before it could be completed In 1908, the US mint continued and finished it.
There was no prohibition on redesigning circulating coinages by Congress. The few remaining one-cent coins took center stage.
President Roosevelt came across a medal created by Victor Brenner for the Panama-based Canal Commission during his search for a skilled sculptor. He was interested in the medal’s creator after being impressed by it.
Meanwhile, there was growing pressure to produce a Lincoln cent to commemorate the 100th anniversary.
As a result, Victor Brenner was commissioned by the US mint to create a coin in honor of Abraham Lincoln. Victor Brenner’s design was accepted by the US mint after several suggestions, and it was scheduled to be unveiled in July 1909.
-Reason for Minting
The Lincoln penny was created to honor the late President Abraham Lincoln’s 100th birthday. The picture of an American President was not included on any US coinage. As a result, the Lincoln penny was ready to be used.
The US mint was pressured to create a coinage in honor of Abraham Lincoln by notable numismatists, collectors, and a portion of the population. The primary mint requested that the coin have a portrait of Lincoln at the start of the design process.
An antique photograph of Abraham Lincoln with his son beside him was used by Victor Brenner as inspiration.
Philadelphia (657,796,000), Denver (206,698,000), and San Francisco (85,590,000) were the three mints that produced the 1942 penny. In 1942, 864,579,590 coins were minted by all mints combined.
How Much is a 1942 Penny Worth
The 1942 wheat penny, as well as the 1942 D wheat penny and the 1942 S wheat penny, were all minted by the United States Mint. Wheat pennies from 1942 are valuable as numismatic coins. On the obverse side of the coin beneath the date, a mint mark, if present, may be seen.
1942 penny worth $1 million? Although 1942 D Penny Worth Million Dollar Headlines are often seen in news stories, it is unusual to observe any of these pennies in public hands.
In comparison to million-dollar pennies, every penny included in this list is considered normal. What if you have one of them in your house?
-1942 Wheat Penny No Mint Mark
The mint mark is a distinguishing characteristic that determines the worth of the penny due to the high mintage of wheat pennies. In 1942, the mint of Philadelphia issued the most coins. The high mintage resulted in a large supply of Lincoln pennies.
As a result, in all circumstances, the 1942 pennies without the mint mark are of low value. From well-worn to Mint State, it’s available in a variety of conditions.
-1942 D Wheat Penny Value
In good condition, a 1942 D penny has a face value of $0.01. If your coin is in excellent condition, this value will increase to $0.05. A circulated 1942 D penny in a really nice state might have a maximum value of $0.09.
The coins without mint marks in 1942 are generally worth the same amount. Because this penny version was minted in large quantities, it is not particularly uncommon.
Graded versions of this currency are also available. A graded 1942 D penny can be worth up to $2.00 in value. The precise grade determines the value.
-1942 S Penny
Because of its high-quality construction, a 1942 S penny is worth more than a D penny in certain situations. This coin was minted at the San Francisco mint under stringent criteria. In good condition, this coin has a value of $0.05.
The maximum value of a circulated 1942 S penny in an extremely fine condition is $1.25, and this figure will rise to $0.85 in a fine state. This coin may be sold in a graded form as well. Depending on the grading, a graded 1942 S penny might be worth $7 to $8.
Value Of A 1942 Proof Penny?
An uncommon sort known as the proof penny appears on the 1942 penny. Since they are not in use and are thus produced more carefully than regular coins, proof coins are primarily produced for collectors.
This coin was minted in Philadelphia and has a value of $44 per piece. It is only available in a proof version with no mint mark and was produced in 1942. PR 63 is the designation for the penny’s condition.
1942 Wheat Penny by Grading
The condition of a coin as old as the 1942 Lincoln is most important to collectors. As a result, any Lincoln penny that is worth having will be graded. The different coin grades are outlined below, along with an explanation of what each grade means.
-Good: The most severely damaged Lincoln pennies are graded “good,” which means that despite their obvious wear, they are still valuable to collectors of all types.
-Uncirculated Grade: uncirculated wheat pennies are determined to be identified by examining the coin’s surface for signs of wear, which are two factors: luster is a fine texture that causes the shine, and the high points of design luster to be delicate and if removed from the high points causes a dulling and smoothing of the metal.
A fine grain texture of luster remaining confirms a mint state grade when inspecting the area around Lincoln’s temple. Within the center portion of the coin, continue looking at Lincoln’s profile. The 1942 penny has retained its lustrous sheen and does not have any distracting marks. The lack of scars and nicks adds to the appeal of open spaces in front and behind Lincoln’s, which are prone to contact.
- There are no signs of wear on the 60th anniversary MS-60 Uncirculated. There are stains, abrasions, or surface marks on the coin, although it has luster.
- There are some blemishes or contact marks in the key focal areas, which grade to 63 Choice Uncirculated. The coin’s luster might be duller.
- Only a few blemishes from the major focal points separate this coin from being PR 63 Proof. There are no major flaws, except for one minor flaw.
- Lincoln’s jawbone and cheekbone are worn, but they’re still apart in this condition. Wheat heads are not removed from the crop.
Looking for More Information About Coins? Check Other Years From This Lincoln ( Wheat ) Penny Series:
1909 1910 1911 1912
1913 1914 1915 1916
1917 1918 1919 1920
1921 1922 1923 1924
1925 1926 1927 1928
1929 1930 1931 1932
1933 1934 1935 1936
1937 1938 1939 1940
1941 1942 1943 1944
1945 1946 1947 1948
1949 1950 1951 1952
1953 1954 1955 1956
How to Determine The Value Of 1942 Penny?
In some circumstances, determining the value of a coin in relation to other coins of similar condition and type wheat pennies is difficult. Before determining if your wheat penny is worth more than face value, it’s important to understand the factors that affect its value.
The condition of the coin and its metal composition are two factors that influence the value of your 1942 wheat penny. The look of a currency and its metal composition are the two primary factors that influence its condition. The value of your 1942 wheat pen is determined by both of these factors.
Wear and tear, particularly scratches, stains, and dents, may diminish a coin’s total appeal and make it less appealing to collectors. The look of your 1942 wheat pennies may be impacted by wear and tear. Similarly, a worn 1942 wheat penny will be worth less than one in nearly mint condition.
You may inherit some old coins from a loved one, and even proof of 1942 pennies! The majority of 1942 pennies you come across in circulation are likely to be worn or, worse yet, inherited. Just a handful of uncirculated (mint) 1942 Lincoln cents survive out of the hundreds of millions produced by the United States Mint.