1945 Wheat Penny Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

1945 Wheat Penny value ranges from $0.01 face value to $20,400. That record was set by a PCGS MS-67+ RD example sold at Heritage Auctions in December 2022 — a near-perfect coin with sharp strike and full original red luster. If you want to know what yours is worth, upload a photo of your coin below for a quick value range. You can also scroll down to check recent eBay sales and see what coins like yours are actually selling for right now.

 

1945 Wheat Penny Value By Variety

The chart below gives you current market values for all three 1945 Wheat Penny varieties across different grades and conditions, so you can quickly pinpoint what your coin is worth.

If you already know your coin’s grade, jump straight to the detailed Value Guides section below.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Top 10 Most Valuable 1945 Wheat Penny Value Records

The auction records for 1945 wheat pennies reveal a market driven almost entirely by preservation quality, not original mintage numbers.

The record-breaking $20,400 Philadelphia MS-67+ specimen — sold at Heritage Auctions in 2022 — proves that extraordinary eye appeal can turn a billion-coin issue into a five-figure treasure. Meanwhile, the $14,400 Denver MS-68 RD (Red) coin, hammered at Heritage Auctions in January 2019, shows how even lower-mintage Denver examples can soar when they reach the top of the Sheldon grading scale.

PCGS (Professional Coin Grading Service) population data tells you exactly why these grades are so valuable: for the 1945 no-mint-mark variety in Red, PCGS has certified just 142 coins at MS-67 and only 18 at MS-67+. At MS-68, NGC (Numismatic Guaranty Company) has recorded only a single example in Red condition across their entire census.

For the 1945-S RD variety, PCGS has certified 68 coins at MS-67+ — a number that sounds significant until you remember that over 181 million of these pennies were originally produced. The steep premium between MS-67 and MS-68 grades reflects how incredibly difficult it is to find a 1945 wheat penny that survived eight decades with its original copper-red luster completely intact.

The clustering of MS-63 through MS-66 examples in the $145–$165 range establishes a clear, accessible entry point for collectors who want a certified, verified 1945 wheat penny without paying four or five figures.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

 

History of the 1945 Wheat Penny Value

The 1945 Wheat Penny tells the story of a country transitioning from the trauma of global war to the optimism of postwar abundance, and that story is literally baked into the metal of each coin.

When the United States entered World War II, copper became a critical strategic material. The U.S. Mint had to find alternatives, leading to the notorious zinc-coated steel pennies of 1943 — a wartime emergency that the American public quickly rejected, since the steel coins rusted easily and were constantly confused with silver dimes.

By 1944, the Mint had a more elegant solution: recycling spent brass shell casings from military training. This created the so-called “shell case cents” of 1944, 1945, and 1946. Renowned numismatist Roger Burdette, citing National Archives records, confirms that shell casings were delivered by the wagonload to the Philadelphia Mint for processing.

The shell case alloy — 95% copper and 5% zinc, without any tin — is technically brass, not the traditional bronze Lincoln cents used before 1943 or after 1946. This subtle difference in chemistry produces a slightly more brassy or yellowish tone in uncirculated examples when compared side-by-side with pre-war bronze cents.

This chemical difference also has a practical effect: 1945 cents can show more vibrant and varied toning than other wheat pennies. Collectors frequently notice pinks, violets, and purples in uncirculated examples, caused by trace impurities in the recycled shell casing metal.

The Wheat Penny design was created by sculptor Victor D. Brenner in 1909 to honor Abraham Lincoln’s centennial, and it remained unchanged through 1958. Three mints — Philadelphia, Denver, and San Francisco — collectively struck nearly 1.5 billion 1945 cents as America celebrated its hard-won victory in both Europe and the Pacific.

 

Is Your 1945 Wheat Penny Value Rare?

To get a precise rarity ranking and current market value for your 1945 Wheat Penny across all mint marks and varieties, use our Coin Identifier and Value App for instant rarity assessment and comprehensive grading analysis.

 

Key Features of the 1945 Wheat Penny Value

Understanding the specific design features and physical characteristics of the 1945 Wheat Penny helps you accurately identify your coin and assess its condition — two of the most important factors in determining its value.

These coins display design elements consistent with decades of Lincoln cent production, but they carry the subtle physical fingerprints of their unique wartime composition.

The Obverse of the 1945 Wheat Penny

The obverse (front) of the 1945 cent features Lincoln’s right-facing portrait, refined by decades of die work since Brenner first introduced the design. The relief is moderately deep, with well-balanced proportions that translate well across all three mint facilities.

“IN GOD WE TRUST” arches above Lincoln’s profile, and “LIBERTY” appears to the left. The date “1945” sits to the right of Lincoln’s bust, with the mint mark — “D” for Denver or “S” for San Francisco — appearing directly below. Philadelphia-minted coins have no mint mark, following long-standing U.S. Mint tradition.

Because of the high-speed wartime production environment, strike quality on 1945 cents can vary considerably even within the same mint. Well-struck examples show crisp, fully separated details in Lincoln’s hair and coat; weakly struck coins may look slightly mushy in these areas even if they are technically uncirculated — and this directly affects grade and value.

The Reverse of the 1945 Wheat Penny

The reverse features dual wheat stalks framing the central inscription “ONE CENT,” with “UNITED STATES OF AMERICA” curving along the bottom and the Latin motto “E PLURIBUS UNUM” (meaning “Out of many, one”) positioned near the top.

On high-grade examples, you can see fine individual grain lines within each wheat ear — a level of detail that disappears quickly once a coin enters circulation. Collectors who pursue the Lincoln cent series often inspect the wheat lines specifically, since their sharpness provides additional evidence of a strong original strike.

Other Features of the 1945 Wheat Penny

The 1945 penny’s composition returned to a copper-based alloy after the unpopular 1943 steel experiment, though as noted above, this alloy is brass (no tin) rather than traditional bronze. Standard measurements are 19.05mm in diameter and a weight of 3.11 grams, with a plain smooth edge.

Some 1945 cents have turned up weighing closer to 3.2 grams — a slight anomaly believed to be caused by minor inconsistencies in the recycled planchet material, and a detail that occasionally attracts collector interest. The color designation is critical: Red (RD) means the coin retains at least 95% of its original mint copper luster; Red-Brown (RB) means partial oxidation; and Brown (BN) means the original red surface has fully oxidized.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

 

1945 Wheat Penny Value: Mintage & Survival Data

Three mints combined to strike 1,488,553,000 cents in 1945 — one of the highest combined mintages in the entire wheat penny era. Philadelphia led with 1,040,515,000 pieces, followed by Denver at 266,268,000, and San Francisco at 181,770,000.

Despite these astronomical production figures, survival in collectible condition is strikingly rare. Philadelphia’s massive output yielded only about 11,600 surviving examples in collectible grades — a survival rate of just 0.0011% — a direct result of intensive wartime circulation and little organized coin saving in the late 1940s.

Denver fared somewhat better with approximately 15,000 surviving collectible examples (0.0056% survival rate), and San Francisco achieved the highest survival rate of the three at 0.0132%, with around 24,000 specimens remaining today. This is somewhat counterintuitive given San Francisco’s lower original mintage, but it reflects stronger West Coast coin-collecting culture and different circulation patterns during and after the war.

One important nuance: while San Francisco has the most survivors overall in Mint State grades MS-60 through MS-68, Denver examples are actually harder to find specifically in pristine high-grade Red condition. This is why the auction record for the 1945-D belongs to a stunning MS-68 RD example that sold for $14,400 — higher than any 1945-S ever achieved.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

 

The Easy Way to Know Your 1945 Wheat Penny Value

Finding out what your 1945 wheat penny is worth is straightforward once you know the three key factors: the mint mark, the condition (grade), and the color.

First, look for a mint mark below the date on the front of the coin. “D” means Denver; “S” means San Francisco; no mark at all means Philadelphia. Next, honestly assess the coin’s condition — is it worn smooth, or does it still look nearly like the day it was struck? Finally, check the color: a coin that still glows with original reddish-copper color (called “Red” or RD) is worth dramatically more than one that has turned brown.

Circulated examples typically sell for $0.15 to a few dollars depending on condition and mint mark. Uncirculated examples can reach $180–$400 in MS-67 grade, and exceptional MS-68 examples have fetched between $5,000 and $20,400 at major auction houses like Heritage Auctions.

For an instant, accurate valuation of your specific coin, download the Coin Value Checker APP — simply snap a photo to receive comprehensive grading analysis and current market value based on your coin’s exact characteristics and condition.

 

1945 Wheat Penny Value Guides

• • 1945 No Mint Mark Wheat Penny Value

• 1945-D Wheat Penny Value
• 1945-S Wheat Penny Value

The 1945 Wheat Penny market divides cleanly into three groups based on where each coin was made, and each group tells a different story about rarity, quality, and collector demand.

Philadelphia coins — identifiable by their lack of any mint mark — are by far the most common by original mintage, yet they can achieve the highest individual auction prices when found in exceptional condition. Denver and San Francisco issues offer their own appeal, with Denver being especially challenging to find in gem Red grades, and San Francisco commanding consistent premiums due to its lower mintage numbers.

Grasping the differences between these varieties is essential before you buy or sell. Identical numerical grades from two different mints can carry very different price tags depending on population data, color, and current collector demand.

Also Read: Value Of Old Pennies By Year (1959-Present)

 

1945 No Mint Mark Wheat Penny Value

The 1945 Philadelphia wheat penny is a textbook case of how condition can completely transform an “ordinary” coin into something extraordinary. With over 1.04 billion struck, this is one of the most common coins in the entire wheat cent series — yet one specimen sold for $20,400 at Heritage Auctions in 2022.

All 1945 Lincoln cents, including the Philadelphia issue, are made from the wartime shell case alloy: 95% copper and 5% zinc, with no tin. This makes them technically brass, and the absence of tin means they develop differently from pre-war bronze pennies — a detail that experienced collectors use to visually identify original uncirculated examples.

Color designation is the single biggest value driver for this variety. Red (RD) examples that have retained their original copper luster can reach $180–$220 at MS-67, and the rare MS-68 RD tier is valued at approximately $5,000–$6,000. According to PCGS population data, only 18 no-mint-mark 1945 pennies in Red have been certified at the MS-67+ level, and NGC has catalogued just one MS-68 Red example.

Red-Brown (RB) specimens typically command 30–50% less than their Red counterparts at identical grades, while Brown (BN) examples generally sell for 60–80% less. A Heritage Auctions sale in April 2015 recorded an MS-67+ RD at $4,465, establishing that mid-tier premium market.

Recent auction records showcase the remarkable appreciation potential for the highest-preserved Philadelphia specimens.

Current market activity reflects sustained demand across all experience levels, from beginning collectors buying affordable circulated examples to advanced numismatists chasing gem Red specimens.

 

1945-D Wheat Penny Value

The 1945-D penny from the Denver Mint occupies a fascinating middle ground: it has a lower mintage than Philadelphia (266 million vs. over 1 billion), yet Denver’s example actually holds the outright auction record for any 1945 wheat penny in a single grade — $14,400 for an MS-68 RD at Heritage Auctions in January 2019.

Why does Denver command such a premium at the absolute top? Denver examples in gem Red condition are genuinely harder to find than either of the other two mints at that level. San Francisco’s uncirculated survivors are plentiful in lower Mint State grades, but Denver’s MS-68 Red population is essentially unique — a single coin has ever been certified at that tier, according to PCGS and NGC records.

The Denver Mint’s consistent striking quality in 1945 also tends to produce cleaner, sharper details in Lincoln’s facial features and the reverse wheat lines. This superior detail retention gives high-grade Denver examples a competitive edge in collector appeal.

MS-67 examples have moved from $100–$200 in earlier years to $300–$400 or more in current markets, and a 2020 auction recorded an MS-67+ RD at $625. Red examples at any grade routinely sell for 10–20 times more than Brown or Red-Brown counterparts.

Recent auction records capture the steady upward trajectory for high-grade Denver-minted examples across multiple selling platforms.

Market activity data confirms that collector demand for the 1945-D remains consistently strong, supporting both short-term resale and long-term value appreciation.

 

1945-S Wheat Penny Value

The 1945-S penny from the San Francisco Mint carries the smallest original mintage of the three varieties at 181,770,000 — and this scarcity translates into a consistent premium over Philadelphia coins in all but the very highest grades.

In MS-67 Red condition, 1945-S examples typically sell for $400–$700, while Red-Brown specimens at the same grade fetch $100–$200, and Brown examples bring $50–$100. The MS-68 Red tier has achieved up to $6,600 based on recent auction activity, and PCGS has certified 68 examples in the MS-67+ RD designation.

There is also a special note for the 1945-S: San Francisco was simultaneously striking coins for the Netherlands East Indies in 1945, and at least one 1945-S wheat penny is known to have been struck over a Netherlands East Indies 1/10 Gulden planchet. That coin, graded AU-58 by PCGS, sold for $7,050 at Heritage Auctions in 2015 — making it the single highest auction record for any 1945-S wheat penny.

A Heritage Auctions 2015 sale also recorded an MS-67+ RD at $2,174, and 2023 sales ranged from $47 for an MS-67 in January to $870 for an MS-67+ in August, both at Heritage Auctions.

Recent auction records illustrate the consistent premium performance of San Francisco examples across a wide range of condition grades.

Market activity patterns confirm that the 1945-S remains the most actively sought-after of the three 1945 mint varieties, driven by its combination of low original mintage and historical wartime significance.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Rare 1945 Wheat Penny Value Error Coins List

Despite producing nearly 1.5 billion coins across three facilities, the wartime production environment of 1945 created a surprising variety of minting errors. These mistakes — caused by misaligned dies, defective planchets, and worn equipment — transform ordinary pennies into sought-after collector pieces worth anywhere from $50 to thousands of dollars.

1. 1945 Wheat Penny DDO FS-101

A doubled die obverse (DDO) error occurs when the working die receives more than one impression during the hubbing process, creating a visible doubling of design elements. On FS-101 (the primary listed variety), this doubling typically appears in “LIBERTY,” “IN GOD WE TRUST,” or Lincoln’s facial features.

The more dramatic and clearly visible the doubling, the higher the value — clear examples command $100–$500 in circulated grades, and potentially thousands of dollars in uncirculated Mint State condition. One MS-64 RD specimen with DDO characteristics sold for $395 at an eBay auction in 2019, demonstrating that even moderate examples attract real bidder interest.

2. 1945 Wheat Penny Off-Center Strike Error

Off-center strikes happen when the planchet (the blank metal disc) is not properly centered between the dies at the moment of striking, leaving part of the design missing and an arc of blank metal on the opposite side.

Values scale with the severity of the off-centering: 10–20% off-center examples typically sell for $50–$150, while dramatic 50%+ misalignments can command $200–$400. A notable 1945-S penny struck approximately 15–20% off-center is documented in collector records, and an AU-58 PCGS-graded example struck 10% off-center has traded at around $259.95. Importantly, examples that still show a readable date and visible mint mark are far more desirable than those where the off-centering obscures this identifying information.

3. 1945 Wheat Penny Clipped Planchet Error

A clipped planchet error results from the metal strip overlapping itself as it feeds into the blanking press, causing the punch to cut out a blank with a curved or straight section already removed from its edge. These clips can be curved, straight, or elliptical depending on how the overlap occurred.

Minor clips typically sell for $25–$100, while dramatic clips affecting 15–20% of the coin’s total area can bring $200–$300. A 1945 wheat penny struck on an elliptical clip planchet, graded MS-64, sold for $180 at Heritage Auctions as a documented example of this type.

4. 1945 Wheat Penny Lamination Error

Lamination errors are particularly relevant on 1945 pennies because the recycled shell casing alloy used in their production sometimes contained trace impurities. These impurities could cause the metal to separate into layers during or after the striking process, creating raised blisters, flaking patches, or areas of missing metal on the coin’s surface.

Depending on the size and position of the lamination flaw, 1945 cents with this error typically sell for $90–$200, with larger or more dramatic examples commanding higher premiums. A 1945-S penny with a prominent lamination flaw can sell in the $90–$200 range based on current market records.

5. 1945 Wheat Penny Broad Strike Error

A broad strike error occurs when the retaining collar — which normally holds the planchet in place and forms the coin’s distinctive raised rim — is absent or fails during striking. The result is a coin slightly larger than normal in diameter, with a flat, undefined edge instead of the standard raised rim.

While not extremely scarce on 1945 cents, broad strikes attract consistent collector interest and typically sell for $50–$200 depending on how dramatically the design has spread. Collectors favor examples where the design details are still clearly visible despite the spreading.

6. 1945 Wheat Penny Wrong Planchet Error (Netherlands East Indies)

One of the most fascinating errors in the entire 1945 series, this error occurred because the U.S. Mint was simultaneously striking coins for the Netherlands East Indies (modern-day Indonesia) in 1945. Occasionally, a Netherlands East Indies ½-cent planchet — which weighed just 2.39 grams versus the standard 3.11 grams for a U.S. cent — was accidentally fed into the Lincoln cent press.

The resulting coin shows Lincoln’s design on a noticeably smaller, lighter planchet, and the outer portions of the design are missing because the planchet doesn’t fill the dies completely. An MS-64 BN (Brown, uncirculated) example sold for $930 at auction in 2019, and an MS-64 RB example hammered at $421 in December 2020. The all-time record for a 1945-S struck over a Netherlands East Indies 1/10 Gulden — a different but related wrong-planchet variant graded AU-58 — reached $7,050 at Heritage Auctions in 2015.

7. 1945 Wheat Penny Cud / Die Break Error

A cud error (also called a die break) forms when a piece of the die literally breaks off during production, leaving a raised, blob-like area of metal where the die fragment used to be. These typically appear near the rim, and they are caused by overused or structurally weakened dies — a common problem in the high-volume wartime production environment of 1945.

A cud break error on a 1945 Lincoln cent with an obverse cud break, graded AU-58, sold for $660 at Heritage Auctions in 2021. Even circulated examples with prominent cud errors can command several hundred dollars, making this one of the more accessible valuable error types for new collectors to pursue.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Where to Sell Your 1945 Wheat Penny Value

 Knowing your coin’s value is only half the battle — choosing the right selling platform can make a significant difference in your final return.

For circulated examples worth under $10, local coin shops and online marketplaces like eBay are perfectly adequate. For higher-grade or error coins, established auction houses like Heritage Auctions and Stack’s Bowers command the largest collector audiences and consistently achieve the strongest prices.

Before selling any coin worth more than about $50, strongly consider having it certified by PCGS or NGC — the two leading third-party grading services. Professional certification verifies authenticity, confirms the official grade, and dramatically increases buyer confidence, which typically leads to higher final sale prices.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1945 Wheat Penny Value Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ about the 1945 Wheat Penny Value

1. What is a 1945 Wheat Penny worth today?

Most circulated 1945 wheat pennies are worth $0.15 to about $1.00, depending on condition and mint mark. Uncirculated examples in MS-65 to MS-66 Red grade typically range from $15 to $75, while MS-67 Red specimens sell for $180–$400. The absolute peak is $20,400, achieved in 2022 at Heritage Auctions for an extraordinary Philadelphia MS-67+ Red example.

2. Why is the 1945 Wheat Penny called a “shell case cent”?

From 1944 through 1946, the U.S. Mint used recycled brass from spent military ammunition shell casings to produce Lincoln cents. This gave the pennies a unique alloy of 95% copper and 5% zinc — without any tin — which is technically brass rather than the traditional bronze. Numismatist Roger Burdette has confirmed via National Archives records that shell casings were physically delivered to the Philadelphia Mint for this purpose.

3. What are the three mint marks for the 1945 Wheat Penny Value, and which is rarest?

The three varieties are: no mint mark (Philadelphia, the most common with 1,040,515,000 struck), “D” (Denver, intermediate at 266,268,000), and “S” (San Francisco, the lowest mintage at 181,770,000). In circulated grades, the 1945-S commands the highest premium due to lower output. However, in gem uncirculated Red condition, the 1945-D is actually harder to find and holds the overall auction record of $14,400 at MS-68 RD.

4. How does coin color affect 1945 Wheat Penny Value?

Color is one of the most important value factors for any copper coin. PCGS and NGC use a three-tier color grading system: Red (RD) means 95%+ of the original mint copper luster survives; Red-Brown (RB) means partial oxidation; Brown (BN) means the original red color is completely gone. At the MS-67 level, a Red 1945-D penny can sell for $300–$400, while a Brown example at the same numerical grade might fetch only $20–$40. Red examples at any grade typically sell for 10–20 times more than Brown counterparts.

5. What errors should I look for on a 1945 Wheat Penny?

The most valuable errors include: the Doubled Die Obverse (DDO FS-101, worth $100–$500+ depending on grade), off-center strikes (worth $50–$400 depending on severity and whether the date is visible), wrong planchet errors struck on Netherlands East Indies planchets (one sold for $7,050 in 2015), cud/die break errors ($200–$660+), lamination errors ($90–$200), and clipped planchets ($25–$300). Broad strike errors are also documented and typically sell for $50–$200.

6. What is the PCGS/NGC population of high-grade 1945 Wheat Pennies?

According to PCGS certification data, the 1945 no-mint-mark penny in Red has just 142 coins certified at MS-67 and only 18 at MS-67+. NGC has registered a single example in MS-68 Red across their entire census for this variety. For the 1945-S, PCGS has certified 68 specimens at MS-67+ in Red. These small numbers — against an original mintage of hundreds of millions — explain why the highest grades command five-figure prices at auction.

7. How do I tell if my 1945 Wheat Penny has been cleaned?

A cleaned coin shows an unnaturally bright or “stripped” appearance, often with tiny parallel scratches under magnification from abrasive cleaning. Cleaned coins are significantly reduced in collector value and will not receive a numerical grade from PCGS or NGC — they instead receive a “details” grade with a cleaning notation. Never clean a wheat penny, especially shell case cents from 1944–1946, since the zinc in the shell case alloy reacts differently to chemicals than traditional bronze and leaves distinctive, permanently visible artificial marks.

8. What is the composition difference between a 1945 and a 1940 Wheat Penny?

A 1940 wheat penny was made with the traditional Lincoln cent alloy: 95% copper, 5% tin and zinc (true bronze). The 1945 wheat penny was made with the wartime shell case alloy: 95% copper, 5% zinc — with no tin at all (technically brass). This subtle difference means 1945 cents tend to develop a slightly more brassy or yellowish patina over time compared to the warmer reddish-brown of pre-war bronze cents, and they can display more vivid and varied toning colors (pinks, violets, purples) caused by trace impurities in the recycled shell casing metal.

9. Should I get my 1945 Wheat Penny graded by PCGS or NGC?

Professional grading is worthwhile when your coin appears to be in uncirculated (Mint State) condition, when you believe it has a valuable error or variety, or when you intend to sell it for a meaningful amount of money. For a circulated 1945 cent worth only a dollar or two, grading fees ($20–$50+ per coin) would exceed the coin’s value. For a coin that appears to be in MS-65 or better condition, or that shows a clear doubled die or off-center strike, certification can confirm authenticity, protect value, and significantly increase what a buyer will pay.

10. How does the 1945 Wheat Penny compare to other wartime cents in value?

Within the wartime Lincoln cent family, the 1943 steel penny (99% zinc-coated steel) is the most famous and visually distinctive, with common examples worth $0.25–$1 circulated. The extremely rare 1943 bronze cent — a small number accidentally struck on leftover copper planchets — can be worth $100,000 or more. The 1945 wheat penny sits in the middle tier: common in circulated grades, but a genuine condition rarity in gem uncirculated Red state. Its top auction record of $20,400 places it well above the typical 1943 steel cent but far below the legendary 1943 bronze, making it an excellent collector target that combines real historical significance with achievable entry points for most budgets.