The difference between the S and D types of coins is their minting facility. The one marked with an S is minted in San Francisco, while the one having a D character is minted in Denver.
The antique coins enthusiastically praise the sophisticated history and encapsulate the marks of the past. Art patrons have a bent for antiques, and numismatics has become the most settled niche in this domain.
A numismatist’s hidden stimulus to collect the coins can be traced to the times when Augustus Caesar, 1st emperor of Rome, started collecting coins.
This pursuit continues and remains incomplete without the hunt for the 1945 wheat penny, for which the numismatists remain all eyes.
But gauging the 1945 wheat penny value remains a daunting challenge.
To assist the coin collector in understanding and examining its actual worth, here is a comprehensive account, covering all its related facets.
1945 Wheat Penny Overview
From digital payments to thriving as a broker, the use of money has expanded to the niche of versatile domains. However, the currency remains purposeful for diverse requirements.
One such interest in currency is collecting coins, which is lexically called numismatics. Among the myriad coin options, the 1945 wheat penny is a treasured choice to add to the collection.
Moving in the sequence, the essence of this term or discussion, i.e., 1945 wheat penny, stands collectively in the meaning of the individual words.
Here, “penny” generally denotes the smallest denomination of money in a currency system.
In precise terms, it is a US coin called the “1945 Lincoln Wheat Cent” and was a part of the Wheat Cent series.
The series was circulated for many years, but the coins of certain types attracted people. Apart from 1945 coins, the 1944 Wheat Penny and 1943 steel penny are also popular among coin collectors.
It was designed by David Victor Brenner, who has been instrumental in designing other types of coins as well.
Looking at the coin, the most conspicuously eye-catching features are that of Abraham Lincoln on one side and wheat ears on the other side of the coin. Considering its composition, it is primarily made of copper with a minor fraction of zinc or tin.
Now let’s dive deep into its basic details to understand it comprehensively.
1945 Wheat Penny Details
Having the strain of perfection in analyzing a coin is the prime trait of a numismatist. They must go through the basic details of the penny before adding it to their library of coins.
In the sequence, let’s go through its basic details.
Considering the peripheral aspects, it is a round-shaped coin with plain edges. Furthermore, it has certain standard dimensions and characters, which are discussed below:
- Face value: $0.01 OR 1 cent
- Composition: 95 (Copper): 5 (tin or zinc)
- Radius: 9.525mm OR 0.875 inches
- Weight: 3.11 gm or 0.109 ounces
- Thickness: 1 mm OR 0.039 inches
- Composition: 95% copper and 5 % zinc
Usually, the penny weighs approximately 3.10 g. But depending on the minting facility, it may vary to a significant range.
Before getting a brief of this magnificent penny, let’s dive into its historical background to zero in on the topic under discussion.
History of 1945 Wheat Penny
This Wheat Cent series, or Abraham Lincoln Wheat Cent Series, was released to commemorate the 100 years of the birth of Abraham Lincoln. The depiction of Lincoln on one side of the coin connotes his remembrance and 2 wheat ears on the reverse side shows the prosperity that Lincoln brought to America by his efforts.
These coins are reported to have been minted between 1909 and 1958.
But what makes this penny special is the year, i.e., 1945, when World War II ended and the US emerged as a global superpower. The 1945 wheat penny is embarked as a hallmark of America’s revolutionary development over the years.
Like any other coin, the value of this coin too depends on the rarity, mintmarks, and popularity and demand among the numismatists.
Now let’s discuss the varieties of this penny.
Types of 1945 Wheat Penny
To cater to the demand for this new penny, it began to be minted in different states, which brought minute variations in the superficial design of the coin.
The types, in general, are based on the mints they are struck in.
They are predominantly minted in San Francisco, Denver, and Philadelphia, which makes the base of their differentiation.
Type 1: S Type 1945 Wheat Penny
The 1945 wheat penny with an S mark under 1945 was minted in San Francisco. They are the lowest of the minted pennies as compared to the other types, hence making some of them valued at even more than $5.
As per the records, 181 million such coins were minted in San Fransisco. The official documents also mentioned that the then president Theodore Roosevelt wanted to release some coins having more autistic essence, which led to its emergence.
Considering the 1945 S Wheat Penny Value, it is generally priced more than any other type of 1945 wheat penny value due to being less minted and being scarer than other types.
Type 2: 1945 Wheat Penny
They come with a D punched under the 1945 caption, which means they were minted by the Denver Mint. Around 266 million such coins were minted in 1945, making them significantly available, thus bringing their price between $0.15 and $1.
Believing the stats, a total of 266 million coins were minted from the Denver Mint, making it easily available to the people.
Talking about the 1945 D wheat penny value, a circulated 1945 wheat penny value stands at around $15, and for an uncirculated coin it is $20.
Type 3: 1945 Wheat Penny No Mint Mark
Struck in Philadelphia in 1945, it does not contain any mint mark under the caption “1945,” making it acclaimed as No Mint Mark 1945 Wheat Penny. A total of more than 1 billion such coins were reported to have circulated at that time.
As they are conveniently available in the market, they can be bought easily by coin collectors, making them less in demand and easy to claim.
Their price also fluctuates based on their color and novelty, i.e., the no-mint mark pennies with brown texture are generally found to have a lower value than the ones having a red-brownish tone.
Talking about the condition of the pennies, the coins in their pristine form are always priced higher than the others.
Moving forward, it is necessary to go through its design characteristics as well.
1945 Wheat Penny Design
The basic design of the 1945 wheat penny remains the same, irrespective of the minting facility, i.e., the coin has a basic round shape with some perceptible design features, as discussed below.
The Obverse Face
Its obverse side penny looks as shown in the above figure. The most prominent character here is the depiction of the side face of the 16th US president, Abraham Lincoln.
Another explicitly visible caption on this coin face is “IN GOD, WE TRUST”,
written on the curve circumference on the top. On the left side of Lincoln’s face, the word “LIBERTY” is written and on the bottom right part, “1945” is stroked under which some characters are mentioned, such as S and D, depending on the mint they were released from.
Some coins do not have such letters written under 1945, indicating Philadelphia as their place of minting.
The Revere Face
The conspicuously observable characters on this face are as follows:
- The caption at the center of the coin is “ONE CENT” and “UNITED STATES OF AMERICA.”
- Two images of curved wheat ears on both sides of the above-mentioned caption depict the prosperity of the US.
- On the top curved circumference, “E pluribus unum” is explicitly visible, which means “Out of many, one.”
The boundary, i.e., the circumference of the penny, is thicker than the central part, giving it a discernible smooth crease.
Moving to the core topics, let’s understand everything about 1945 Wheat Penny.
1945 Wheat Penny Values
As discussed above, the coin comes in varieties, and these variations cause differences in their value.
Based on certain tangible and intangible characteristics, they can be valued and priced accordingly.
- Circulated Pennies: These are widely available pennies, usually valued at $0.03 to $0.50.
- Uncirculated Pennies: They are less readily available than the circulated ones and generally cost $1 to $5 based on their condition making a difference between a circulated 1945 wheat penny value and non-circulated ones.
- Pennies With a Special Mark: These coins have certain special marks made during the minting process, making them more valuable. However, the price of these pennies depends on where they have been minted, i.e., based on the marks D and S.
- Pennies with errors: Coins with errors, defects, and deformities are highly valued in numismatics. Such pieces possess a value between $50 and $100 based on the rarity, conditions, and demand among the coin collectors.
Going deeper into the topic, let’s discuss the prominent defects and errors that can bring noticeable change in the 1945 wheat penny value.
1945 Wheat Penny Error
The errors are considered the treasure for an antiquarian, especially a numismatist. These errors have no standard or yardstick for their evaluation. However, some common errors or defects can appreciate their price to a decent level. Some of them are:
- Slight mark of wheat ear on the edges of the obverse side of the coin.
- Penny with some random number struck on it.
- Unadjusted minted or some caption or character incompletely struck.
- Fadely stuck coin with the character either blur or extremely fade.
- The broken coin since its minting process.
These errors make them special and rare, impacting their demand and price in the coin market.
How to Measure 1945 Wheat Penny Value?
Before buying this penny, it is highly advisable to separate the genuine coins from the fabricated and forged ones. For this, one should comply with some fundamental checks to price it right.
The conditions to be considered for evaluation are mentioned below.
- Date of Minting: These pennies have been minted for several years and have the year of release mentioned on their face. Some of them are more popular and high in demand than others.
- Mint Marks: The coins minted in San Francisco struck with the letter S were minted in fewer amounts, which makes them rare and more valuable.
- Grading Condition: A closer inspection of the coin’s condition can be done by using a magnifying glass. Alternatively, a clear and enlarged image of the coin can also be analyzed to grade it. Their texture, color, and wear marks can be checked to differentiate between the circulated and uncirculated coins.
- Peculiar Traits: The misprint marks, the broken shape, the unadjusted minting marks, etc., though not valued then, are appreciated now and draw the attention of the coin collectors.
But are these pennies rare, and if yes, what makes them rare?
Why is 1945 Wheat Penny Rare?
The economic principle of “market value of rarity” explains the fact that the rarity is always priced more than the ordinary.
Considering the 1945 wheat penny, they are not rare as such. But some features, as mentioned above, make it special among the numismatists.
Consolidating those features, here is a listicle account of them:
- Level of circulation of the coin.
- Errors and defects.
- Special marks on them.
- Texture and tone.
- The mint facility where the coin was made.
As the composition of 95:5 copper zinc makes it more durable than other pennies and also less prone to corrosion, it has a higher chance of being available for a longer time. Hence, the rarity of the coin, collectively, can’t be considered an issue.
Some pennies in the standard and unsoiled condition have slightly more value than their face value and are more susceptible to being resold consecutively in the market.
Conclusion
The above holistic deliberation about the 1945 Wheat Penny value provides an indispensable account of it for coin collectors. From design and details to the value analysis, this digest will help in accurately appraising these coins.
In this perspective, we can infer that the coins are the mirrors of the social and economic scenario of the times, and every penny added to your collection belongs to the ages.
- 1945 Wheat Penny Overview
- 1945 Wheat Penny Details
- History of 1945 Wheat Penny
- Types of 1945 Wheat Penny
- Type 1: S Type 1945 Wheat Penny
- Type 2: 1945 Wheat Penny
- Type 3: 1945 Wheat Penny No Mint Mark
- 1945 Wheat Penny Design
- 1945 Wheat Penny Values
- 1945 Wheat Penny Error
- How to Measure 1945 Wheat Penny Value?
- Why is 1945 Wheat Penny Rare?
- Conclusion