The 1942 Lincoln Wheat Penny is a cherished collectible among numismatists, offering a glimpse into American history and coinage.
This article delves into the specifics of this coin, including its mint marks, rarity, and value, providing enthusiasts with essential information to assess their collections.
Overview of the 1942 Lincoln Wheat Penny
Minted during World War II, the 1942 Lincoln Wheat Penny features President Abraham Lincoln on the obverse and two wheat stalks on the reverse, symbolizing prosperity. Composed primarily of 95% copper and 5% tin and zinc, this penny precedes the 1943 steel cents, which were introduced due to copper shortages during the war.
Mint Marks and Mintage
The 1942 Lincoln Wheat Penny was produced at three U.S. Mint locations, each identifiable by distinct mint marks:
| Mint Location | Mint Mark | Mintage |
|---|---|---|
| Philadelphia | None | 657,796,000 |
| Denver | D | 206,698,000 |
| San Francisco | S | 85,590,000 |
Note: Coins from the Philadelphia Mint lack a mint mark.
Determining the Value
The value of a 1942 Lincoln Wheat Penny depends on several factors:
- Condition (Grade): Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation. Uncirculated coins (grades MS60 and above) command higher prices.
- Mint Mark: Coins from the San Francisco Mint (S) are generally more valuable due to their lower mintage compared to those from Philadelphia and Denver.
- Rarity and Errors: Coins with minting errors, such as doubled dies or repunched mint marks, are rarer and can significantly increase a coin’s value.
Approximate Values by Mint Mark and Condition
| Mint Mark | Good (G-4) | Fine (F-12) | Extremely Fine (EF-40) | Uncirculated (MS-60 to MS-65) |
|---|---|---|---|---|
| None (P) | $0.05 | $0.10 | $0.20 | $1.00 – $3.00 |
| D | $0.05 | $0.10 | $0.20 | $1.50 – $4.00 |
| S | $0.10 | $0.20 | $0.50 | $2.00 – $5.00 |
Note: These values are approximate and can vary based on the coin’s specific condition and the current market demand.
Notable Sales
High-grade specimens have fetched impressive prices at auctions:
- A 1942 Philadelphia penny graded MS68 Red sold for $3,960 in December 2021. CoinValueChecker.com
- A 1942-D penny graded MS68 Red achieved $12,650 in December 2008. CoinValueChecker.com
- A 1942-S penny graded MS68 Red also sold for $12,650 in January 2006. CoinValueChecker.com
Collecting Tips
- Inspect Mint Marks: Locate the mint mark below the date on the obverse side. The presence and type of mint mark can influence value.
- Assess Condition: Examine the coin for wear, scratches, and luster. Higher-grade coins are more valuable.
- Seek Professional Grading: For an accurate assessment, consider having the coin graded by a professional service like PCGS or NGC.
The 1942 Lincoln Wheat Penny is a fascinating piece for collectors, with its value influenced by mint mark, condition, and rarity. Understanding these factors can help determine a coin’s worth and enhance the collecting experience.
FAQs
What is the most valuable 1942 Lincoln Wheat Penny?
High-grade uncirculated coins, especially those with mint errors or from the San Francisco Mint, are among the most valuable.
Where is the mint mark located on a 1942 penny?
The mint mark is located below the date on the obverse (front) side of the coin.
Are 1942 pennies made of steel?
No, 1942 pennies are composed of 95% copper and 5% tin and zinc. The steel cents were produced in 1943 due to copper shortages during World War II.
