How Much Is the 1942 (Lincoln) Wheat Penny Worth?

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Numismatics expert Max Hockley explains the value of these one-cent coins

Co-authored by Max Hockley and Amy Bobinger, BA

Last Updated: March 31, 2026 Fact Checked

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• Estimated Value
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• Factors Affecting Value
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• Appraising & Selling
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• Composition
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• Video

|Show more |Show less

If you’re a coin collector, you need the 1942 Wheat Penny in your collection. This coin has the classic bust of Abraham Lincoln on the front and two sheaves of wheat on the back. Produced during World War II, these were minted in large numbers, so they’re pretty easy to find. We talked to a numismatics expert to help us explain what they’re worth, what affects the value, and how to get yours appraised.

Average Value of a 1942 Wheat Penny

Numismatics expert Max Hockley says that most 1942 Wheat Pennies are only worth about 5-10 cents. However, they can sometimes be worth more—especially if they’re in mint, uncirculated condition. The color, mint mark, and presence of errors can also affect the value of these coins.

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Section 1 of 4:

What is a 1942 Wheat Penny worth?

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1. 
   Most 1942 Wheat Pennies are only worth a few cents. Hockley says that this is a common date coin that’s only worth about 5–10 cents each. He adds, “Even in high grades, it may only be worth a few dollars.”

   • That said, 1942 Wheat Pennies can sometimes be worth a lot more, especially if they’re in excellent, uncirculated condition and/or they have unique errors.
   • In 2008, a 1942-D Wheat Penny sold for $12,650 through Heritage Auctions. At the time, it was one of only two 1942-D Wheat Pennies that had been graded MS-68, with none achieving a higher grade.
   • The Mint also produced 1942 Wheat Penny proof coins, which can be very valuable in good condition. One of these proofs—graded PR 67—sold for $17,625 in 2014.
   • We’ll look more in-depth at what affects the value in the next section.

   Meet the wikiHow Expert

   Max Hockley is a numismatics and precious metals expert with over 15 years of experience in coin collecting.
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Section 2 of 4:

Factors Affecting the Value of a 1942 Wheat Penny

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   Condition Hockley says, “With coin collecting, condition is king. Even a common date penny can be worth a small fortune if it is in pristine condition.” Uncirculated coins are graded on a scale from MS-60 to MS-70, with a + added for very fine examples. Even a single grade higher or lower can have a huge impact on the value of a coin—for example:

   • MS-63: $5
   • MS-64: $12
   • MS-65: $25
   • MS-66: $38
   • MS-66+: $75
   • MS-67: $200
   • MS-67+: $900
   • MS-68: $3,900
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   Mint mark 1942 Wheat Pennies were produced at 3 mints. Philadelphia coins don’t have a mint mark and are sometimes thought to be error coins, but they’re by far the most common. Because of their relative rarity, Denver (D) and San Francisco (S) coins can be highly valuable to collectors looking to complete a set, especially in good condition. Here’s how many coins were produced at each mint:

   • Philadelphia: 657,796,000
   • Denver: 206,698,000
   • San Francisco: 85,590,000
   • Proof coins: 32,600
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   Color The color of a 1942 Wheat Penny can have a big impact on its overall grade, and therefore its value. There are 3 colors of pennies: Red (RD), Red-Brown (RB), and Brown (BN). Red is by far the most desirable, but you’ll rarely see Brown coins achieve a high enough grade to be worth anything.

   • Red: Coins have a bright, coppery luster and a “new penny” look.
   • Red-Brown: Coins show some tarnish and discoloration, but still have a coppery color.
   • Brown: Coins are a darker shade and usually have a dull, “old” finish.
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   Errors Hockley says, “Errors can be worth a lot, even if it’s on a common date.” Error coins are usually destroyed by the Mint, but a few do slip out to the public. Some of the most common errors include:

   • Multiple strike: The die struck the planchet two or more times. This results in a doubled image, usually most obvious around the outlines of numbers and letters.
   • Lamination error: Contaminants in the metal cause the surface of the coin to flake or peel away.
   • Off-center: The planchet shifted before being struck, resulting in a coin that isn’t centered properly.
   • Wrong planchet: The coin was accidentally struck on the planchet for another coin (usually a dime).
   • Cracked die: A crack or chip in the die allows too much metal to enter, resulting in a raised, blank area on the surface of the coin.
   • Clipped planchet: The planchet is incorrectly punched out, resulting in a circular (“clipped”) section on the outside of the coin.
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Section 3 of 4:

How to Appraise & Sell 1942 Wheat Pennies

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   Have your coin professionally graded if it’s in good condition. If you think you have an uncirculated coin, examine it closely for any flaws, like scratches, chips, or obvious signs of wear. If the coin is in pristine (or near-pristine) condition, it may be worth having it graded by a professional service. The two most common are Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC).

   • It usually costs about $40–$50 to have a coin professionally graded, plus shipping, so it’s only worth it if you think you have something really valuable.
   • If you buy a coin that’s already graded, you don’t have to have it graded again. However, you can have the grade verified by CAC Grading, which can help boost the value of rarer coins.
   • Having your coin graded is one of the best ways to establish its value.
   • If you have a coin that’s not quite pristine enough to be graded, take it to a local coin shop to get an estimate of how much it’s worth.
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   Sell your coin through an auction house or local coin shop. If you have a graded coin you want to sell, the best way to do it is to list it with a reputable auction house like Heritage Auctions or Stacks Bowers. You can also take it to a local coin shop.

   • If you’d prefer to handle the sale yourself, you can list your coin on an auction site like eBay.
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Section 4 of 4:

What are 1942 Wheat Pennies made of?

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1. 
   1942 Wheat Pennies are composed of 95% copper, 5% tin, and zinc. World War II started in 1941, so by 1942, metals that were needed for ammunition—including copper—were starting to be in short supply. But the composition of the Wheat Penny remained unchanged throughout 1942.

   • In 1943, the US Mint produced steel pennies, made of 99% steel with a zinc coating. These are considered highly collectible—although like most coins, they’re only really valuable in mint uncirculated condition.

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