That worn copper penny from 1945 sitting in your change jar might be worth more than one cent—but probably not as much as you hope. With over 1.4 billion minted across three facilities, most 1945 Wheat Pennies remain common finds. However, specific mint marks, pristine preservation, and striking errors can push values from pocket change into the $100-500 range for collectors.

Understanding the 1945 Lincoln Wheat Cent

The 1945 penny marked America’s return to copper coinage after the wartime steel pennies of 1943. The U.S. Mint struck these coins using 95% copper and 5% tin and zinc, giving them the familiar reddish-brown appearance collectors recognize today. Three mint facilities produced these coins: Philadelphia (no mint mark), Denver (D), and San Francisco (S). The mint mark appears on the obverse below the date, just to the right of Lincoln’s shoulder.

Coin grading follows the Sheldon Scale from Good (G-4) through Mint State (MS-60 to MS-70). Most 1945 pennies you’ll encounter grade between Good and Extra Fine (EF-40) due to decades of circulation. Coins grading MS-65 or higher with original red luster command premium prices because copper oxidizes quickly, turning brown over time.

1945 Philadelphia Wheat Penny Value (No Mint Mark)

Philadelphia produced 1,040,515,000 pennies in 1945—the highest mintage of the three facilities. This massive production makes these coins extremely common in all circulated grades.

A Heritage Auctions sale in 2022 recorded an MS-67+ Red example selling for $288, demonstrating that even common-date coins achieve significant premiums in top preservation. Most circulated examples trade for 3-10 cents at coin shops, barely above face value. The key distinction lies in color designation: “Red” (RD) coins maintain over 90% original mint luster, “Red-Brown” (RB) shows 5-95% luster, and “Brown” (BN) has oxidized completely.

1945-D Denver Wheat Penny Worth

Denver minted 266,268,000 pennies in 1945, making the D mint mark roughly four times scarcer than Philadelphia issues. This relative scarcity creates a modest premium across all grades.

Denver strikes typically show sharper details than Philadelphia pennies from this year, particularly in Lincoln’s hair and wheat stalks. Stack’s Bowers sold an MS-67 Red specimen for $180 in January 2023. Collectors seeking complete Lincoln cent sets drive demand for high-grade Denver examples, though circulated pieces remain affordable for beginning collectors at under 50 cents.

1945-S San Francisco Penny Values

San Francisco produced 181,770,000 pennies in 1945—the lowest mintage of the three mints. Despite being the scarcest regular issue, S mint pennies don’t command significantly higher premiums than Denver strikes because the mintage difference isn’t dramatic enough to affect availability.

An MS-67+ Red example achieved $336 at a 2023 Heritage Auctions sale, the highest verified price for a standard 1945-S penny. San Francisco coins sometimes exhibit slightly weaker strikes around the rim, though this varies by individual coin. Well-preserved examples with full red color remain challenging to locate because San Francisco pennies circulated heavily on the West Coast.

Valuable 1945 Wheat Penny Errors

Mint errors transform common pennies into collectible varieties worth $50-500 depending on type and severity. The U.S. Mint produced billions of coins in 1945, and quality control occasionally failed, creating these valuable mistakes.

Doubled Die Obverse: Text or design elements appear doubled due to die manufacturing errors. On 1945 pennies, look for doubling in “LIBERTY” or the date. Strong doubling visible to the naked eye commands $100-300, while dramatic examples verified by major grading services have sold for $425-575. PCGS populations show fewer than 200 certified doubled die 1945 pennies across all mint marks.

Clipped Planchet Errors: When the metal strip feeding the coin press overlaps, the cutting die creates incomplete circular blanks. Clips measuring 5-10% of the coin’s diameter sell for $35-75, while dramatic clips removing 20% or more reach $90-150. A 1945-D with a 25% straight clip sold for $168 on eBay in 2023.

Lamination Errors: Improper alloy mixing causes the coin’s surface to peel or bubble. Minor laminations affecting less than 10% of the surface bring $15-35, while dramatic peeling covering half the coin fetches $80-160. These errors appear more frequently on 1945 pennies than other years because wartime metal recycling introduced impurities into copper supplies.

Broad Strike Errors: Coins struck without the restraining collar spread beyond normal diameter, creating thin, oversized pennies. These dramatic errors sell for $85-225 depending on how far the metal spread. A 1945 Philadelphia broad strike measuring 21mm (versus the normal 19mm) sold for $204 at Great Collections in 2022.

Off-Center Strikes: When the blank planchet doesn’t align properly with the dies, part of the design strikes off the coin. Strikes 5-10% off-center with full dates visible command $25-60, while 40-50% off-center pieces with complete dates reach $150-300. Anything over 50% off-center without a visible date loses most collector value.

Wrong Planchet Errors: Occasionally, a penny die strikes a blank intended for another denomination. A 1945 Lincoln cent struck on a silver dime planchet would be extraordinarily valuable, potentially worth $2,000-5,000, though such errors remain exceedingly rare.

What Makes Your 1945 Penny Worth Grading

Professional grading costs $15-40 per coin through services like PCGS or NGC, so you need reasonable certainty your penny justifies the expense. Submit coins for grading if they meet these criteria:

Your 1945 penny shows no wear and retains bright red-orange color across 90% or more of the surface. These potential MS-65+ candidates might grade high enough to cover grading fees and profit. Use a 5x magnifying glass—if you see any wear on Lincoln’s cheekbone or wheat stalks, the coin grades below Mint State.

You’ve identified a clear error visible without magnification. Obvious doubled dies, significant clips, or dramatic off-center strikes justify grading because authentication proves the error’s legitimacy to potential buyers.

The coin has unusual characteristics you can’t identify. Weight anomalies, strange strike characteristics, or other oddities might represent valuable varieties. Major grading services have variety experts who can identify rare die states or previously unknown errors.

How to Identify Your 1945 Penny’s Mint Mark

Flip your penny to the obverse side showing Lincoln’s profile facing right. Look directly below the date “1945” and slightly to the right of Lincoln’s shoulder. A tiny letter D or S indicates Denver or San Francisco minting. No letter means Philadelphia struck your coin. Use a magnifying glass—these mint marks measure only 1-2mm tall and wear quickly on circulated coins.

Lighting matters when searching for faint mint marks on worn pennies. Hold the coin under a bright LED light at a 45-degree angle, which creates shadows that make shallow details more visible. Some heavily circulated 1945-D and 1945-S pennies have mint marks worn completely smooth, making them indistinguishable from Philadelphia issues except through weight analysis or die variety identification.

Where to Sell Your 1945 Wheat Penny

Local coin shops offer immediate payment but typically pay 50-70% of retail value. This works well for circulated common-date pennies worth under $5 where selling fees would consume most profit.

Online marketplaces like eBay reach collectors worldwide. Completed listings show recent 1945-D MS-65 Red pennies selling for $18-26, while standard circulated examples in mixed lots bring $0.10-0.20 each. Factor in eBay’s 13.25% fees and shipping costs.

Auction houses like Heritage, Stack’s Bowers, or Great Collections handle high-grade coins worth $100+. They charge 10-20% seller’s fees but connect you with serious collectors willing to pay full market value for exceptional specimens.

Reddit’s r/CoinSales and similar forums allow direct collector-to-collector sales with minimal fees. Build reputation through smaller transactions before listing valuable errors.

Start Checking Your Pennies Today

Every roll of pennies potentially contains a 1945 Wheat cent—banks still distribute vintage coins mixed with modern issues. Roll hunters searching $25 boxes of pennies report finding 1940s Wheat cents in approximately 1 in 40 rolls. Focus your search on coins showing no wear and original luster, or obvious errors like off-center strikes. Even common-date 1945 pennies in your collection deserve a second look under magnification before spending them, because that doubled die or lamination error might be worth your mortgage payment.