Your Old Coin Could Be Valuable!
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The 1939-S Wheat Penny is worth anywhere from $0.15 in worn condition to over $45 in high-grade mint state. Finding one of these San Francisco-minted coins in your pocket change or a grandfather’s old jar is an exciting discovery for any casual collector or curious American.
| Condition | Estimated Value (USD) |
|---|---|
| Good / Very Good | $0.15 – $0.25 |
| Fine / Extremely Fine | $0.50 – $2.50 |
| Uncirculated (Brown) | $5.00 – $12.00 |
| Gem Mint State (Red) | $25.00 – $150.00+ |
History and Production of the 1939-S Lincoln Wheat Cent
Wait until you find out that the 1939-S Lincoln penny comes from a time when the world was on the brink of significant change. In 1939, the San Francisco Mint struck just over 52 million of these copper coins. While that sounds like a massive number, it is actually quite low compared to the hundreds of millions produced in Philadelphia or Denver. If you are unsure about what you have in your hand, using a top coin identifier app can help you distinguish the mint mark and verify the date instantly.
The 1930s were the closing chapter of the Great Depression, and every penny mattered to the average family. Because the San Francisco Mint (denoted by the “S” under the date) generally produced smaller batches of coinage, these pieces have always been a favorite for collectors. When you use the CoinKnow app, you can track how these limited production numbers influence the market demand for West Coast pennies today.
Understanding the history is only half the battle; knowing the current market atmosphere is the other. Many 1939-S pennies were put into circulation and stayed there for decades, meaning finding one in pristine, “red” condition is relatively rare. Most examples found by everyday Americans will show significant wear on Lincoln’s hair and coat.
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How to Identify a 1939-S Wheat Penny
Identifying this specific coin is straightforward but requires a sharp eye. Look for the date “1939” on the right side of the Lincoln portrait. Beneath the date, you should see a small “S” mint mark. If there is no letter, it was minted in Philadelphia; if there is a “D,” it was minted in Denver. Wheat pennies are easily recognized by the two stalks of wheat on the reverse side, which was the standard design from 1909 to 1958.
The condition of the coin is the most critical factor in determining its premium. Most people find “circulated” coins, which means they have scratches, smooth surfaces, and a dull brown color. However, if you find one that still looks shiny and copper-colored, you might have an uncirculated specimen. For detailed pricing on these high-quality pieces, you should check the 1939-S Lincoln Penny price data for mint state red coins.
Your Old Coin Could Be Valuable!
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The CoinKnow platform is particularly helpful here, as it allows you to compare your coin against high-resolution images of various grades. Being able to see the difference between a “Fine” grade and an “Extremely Fine” grade can mean the difference between a coin worth fifty cents and one worth several dollars.
Grading and the Impact on 1939-S Penny Value
Professional grading is the process of determining a coin’s physical condition on a scale of 1 to 70. For a common date like the 1939-S, a low-grade coin (G-4 to VF-20) is usually only worth its weight in copper plus a small premium. However, once a coin reaches “About Uncirculated” or “Mint State,” its value climbs significantly. Most collectors look for full details in Lincoln’s ear and the lines in the wheat stalks.
Your Old Coin Could Be Valuable!
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| Grade Designation | Visual Characteristics | Estimated Market Value |
|---|---|---|
| Good (G-4) | Heavily worn; outlines of wheat stalks visible. | $0.15 |
| Fine (F-12) | Distinguishable hair lines; wheat lines visible. | $0.40 |
| Extra Fine (EF-40) | Light wear on high points; sharp details. | $2.00 |
| Mint State (MS-63) | No wear; original mint luster. | $15.00 |
Color also plays a massive role in the value of copper pennies. Experts categorize them as Brown (BN), Red-Brown (RB), or Red (RD). A “Red” 1939-S penny is one that has retained at least 95% of its original copper orange color. These are the most sought-after by professionals. Using the CoinKnow app, you can snap a photo to get an estimate of your coin’s color category and potential grade.
Rare Errors and Varieties of the 1939-S Penny
While the standard 1939-S is a great find, collectors are always on the hunt for minting errors that can skyrocket the price. Doubled die errors are the most common hunt. Look closely at the lettering “In God We Trust” or the date; if you see a blurred or ghost-like second image of the numbers or letters, you might have a Doubled Die Obverse (DDO).
Another thing to watch for is the “S over S” or Repunched Mint Mark (RPM). This happened when the mint worker struck the “S” punch into the die multiple times, slightly misaligned. These small nuances are what separate a common cent from a high-value treasure. For more in-depth research on these variations, checking a comprehensive 1939 Lincoln Penny value guide can provide the auction records you need.
Your Old Coin Could Be Valuable!
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Even small “die cracks”—tiny raised lines of metal caused by a breaking mold—can add a few dollars to the value for the right buyer. Most errors are unique, and their value is often “what a collector is willing to pay.” Always keep an eye out for off-center strikes or clipped planchets, where the coin looks like a bite was taken out of it.
Current Market Trends for Wheat Pennies
The market for Wheat Pennies has remained remarkably stable over the last decade. While they aren’t often “get rich quick” items, they are considered excellent “gateway” coins for new hobbyists. The 1939-S is particularly popular because it captures the transition from the Depression era to the wartime economy of the 1940s.
| Year / Mint | Avg. Circulated Price | Avg. Uncirculated Price |
|---|---|---|
| 1939 Philadelphia | $0.10 | $5.00 |
| 1939-D Denver | $0.25 | $12.00 |
| 1939-S San Francisco | $0.30 | $18.00 |
As you can see, the “S” mint mark typically commands a slight premium over its counterparts from Philadelphia and Denver. This is because San Francisco had the lowest mintage of the three hubs that year. For an American who finds one in a change jar, it’s a piece of history that is worth significantly more than its one-cent face value.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Protecting and Selling Your 1939-S Penny
If you discover a 1939-S Wheat Penny that looks particularly shiny or clean, the first rule is: Do not clean it! It might be tempting to scrub off the grime to make the copper shine, but collectors prefer “original skin.” Cleaning a coin creates microscopic scratches that instantly destroy its numismatic value. A cleaned coin will often be worth only the value of its copper.
Instead, place the coin in a PVC-free plastic flip or a simple cardboard “2×2” holder. This prevents oil from your fingers and moisture in the air from causing further corrosion. If you believe your coin is in the MS-65 or higher range, it may be worth sending to a professional grading service like PCGS or NGC.
When it comes time to sell, local coin shops are the fastest way to get cash, though they will typically offer 50-70% of the retail value so they can make a profit. Online marketplaces like eBay are better for getting full market value, but you have to handle shipping and fees. Regardless of where you sell, having the CoinKnow app on your phone allows you to show potential buyers real-time pricing data to ensure you get a fair deal.
Frequently Asked Questions
Q: Is a 1939-S Wheat Penny rare?
A: While not “rare” in the sense that only a few exist, it is a harder-to-find date than most 1940s or 50s pennies. With 52 million minted, it is considered “scarce” in high grades but common in circulated condition.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Q: Where is the mint mark on a 1939-S penny?
A: The “S” mint mark is located on the front (obverse) of the coin, directly beneath the date 1939. If there is no letter there, the coin was minted in Philadelphia.
Q: What is the highest price ever paid for a 1939-S penny?
A: High-grade specimens in MS-67 Red condition have sold at auction for over $2,000. However, these are exceptionally rare and must be professionally certified to reach those prices.
Q: Can I find a 1939-S penny in my pocket change?
A: It is possible, but unlikely. Most Wheat Pennies were pulled from circulation by the 1970s. However, “coin roll hunting” (buying boxes of pennies from the bank) still turns up these treasures occasionally!