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The 1945-S Wheat Penny is worth anywhere from $0.15 in worn condition to over $450 in high-grade mint state. While most of these coins found in pocket change carry a modest premium, certain rare varieties and “gem” conditions can fetch hundreds or even thousands of dollars at auction.
| Condition / Grade | Estimated Value |
|---|---|
| Good / Very Good (Circulated) | $0.15 – $0.25 |
| Fine / Extremely Fine (Circulated) | $0.35 – $1.50 |
| Uncirculated (MS63 Brown) | $5.00 – $12.00 |
| Choice Mint State (MS65 Red) | $35.00 – $60.00 |
| Ultra Rare Gems (MS67+ Red) | $400 – $3,000+ |
Identifying the 1945-S Wheat Penny Mint Mark
Finding a 1945 Wheat Penny is exciting, but the “S” mint mark is what makes this specific coin a favorite among San Francisco Mint collectors. To find the mint mark, look at the obverse (front) of the coin, just below the date “1945.” You are looking for a small “S” that indicates it was struck in Northern California.
If you aren’t sure if your coin has a mint mark or if it’s just a bit of dirt, you can use a top coin identifier app to get a clear look. CoinKnow is an excellent tool for this, as its high-resolution scanning can distinguish between a faint “S” and a “D” (Denver) or a plain (Philadelphia) penny.
In 1945, the San Francisco Mint produced 181,770,000 Lincoln cents. While this sounds like a massive number, it is significantly lower than the production numbers at Philadelphia that same year. Because of this relatively lower mintage, the 1945-S usually commands a slightly higher price than its Philadelphia counterpart in every grade.
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Understanding the Value of Different 1945-S Penny Grades
When determining how much your coin is worth, “grading” is the most important factor. Collectors use a 70-point scale to determine quality. Most coins found in jars or old piggy banks are considered “circulated,” meaning they show wear from being spent in stores.
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Circulated 1945-S pennies are quite common. For these coins, the 1945-S Lincoln cent market value is generally tied to their copper content and their status as a piece of history, rather than extreme rarity. However, if you find one that looks like it just came from the bank—shiny, red, and without scratches—the value jumps significantly.
| Apparent Grade | Visual Description | Est. Price |
|---|---|---|
| Good (G-4) | Main design features visible but very flat. | $0.15 |
| Fine (F-12) | Wheat stalks show some detail; Lincoln’s ear is clear. | $0.40 |
| Extremely Fine (EF-40) | Very light wear on hair and wheat tips. | $1.25 |
| About Uncirculated (AU-50) | Traces of wear; mostly original luster. | $2.50 |
The Importance of Color: Red vs. Brown Pennies
In the world of Wheat Pennies, color is everything. When copper coins are first minted, they have a bright, orange-red luster. Over time, exposure to air and moisture turns them brown. Professional graders categorize these coins into three groups: Red (RD), Red-Brown (RB), and Brown (BN).
Your Old Coin Could Be Valuable!
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A 1945-S penny in “Red” condition is highly sought after by investors. You can check the current MS65 Red 1945-S penny price data to see how much of a premium these coins carry. A standard brown penny might sell for $5 in uncirculated condition, but a “Full Red” version of the same coin could easily sell for $50 or more.
If you have a collection of shiny pennies, it is vital to handle them only by the edges. The oils on your fingers can cause fingerprints that will eventually turn into dark brown spots, lowering the grade from Red to Red-Brown and slashing the value in half. Using CoinKnow can help you log your collection and track the condition of your coins over time.
Your Old Coin Could Be Valuable!
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1945-S Wheat Penny Errors and Varieties
Errors are where the real money is in coin collecting. While the 1945-S is not as famous for errors as the 1955 Double Die, there are several varieties that collectors actively look for. One of the most common is the “S over S” Re-Punched Mint Mark (RPM).
An RPM occurs when the mint mark punch is struck into the die twice, with the second strike slightly offset from the first. This creates a “shadow” effect on the S. These can be hard to see with the naked eye, but with a magnifying glass or a high-quality camera, they become apparent. Pieces with clear RPMs can sell for $20 to $100 depending on the severity of the mistake.
Another error to look for is the “Die Crack.” These appear as thin, raised lines of metal on the surface of the coin, caused by the coin die cracking under pressure. While small die cracks are common, large ones—especially those that run through the date or Lincoln’s head—can double or triple the coin’s value to the right buyer.
| Error Type | What to Look For | Recent Value |
|---|---|---|
| Repunched Mint Mark (RPM) | A double “S” below the date. | $15 – $150 |
| Lamination Error | The metal looks like it’s peeling off. | $5 – $25 |
| Off-Center Strike | Design is partially missing/shifted. | $50 – $300+ |
Why the 1945-S is a Great Starting Point for New Collectors
The 1945-S Wheat Penny is a “bridge” coin. It sits perfectly at the end of World War II, a time of immense historical significance. In 1944 and 1945, the mint returned to using copper from spent shell casings, which gives these coins a slightly different metallic composition compared to earlier years.
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For everyday Americans, this coin is a gateway into the hobby. It is affordable enough that almost anyone can own a high-grade example, but rare enough in “gem” condition to offer an investment opportunity. If you find one in a dusty jar, it’s worth taking a moment to look at it closely.
Before you sell your 1945-S penny, make sure you compare it against sold listings on auction sites or use CoinKnow to get a valuation. Prices fluctuate based on market demand, but the 1945-S is a steady performer that rarely goes down in price.
FAQ
Q: Is the 1945-S Wheat Penny made of silver?
A: No, the 1945-S Wheat Penny is made of 95% copper and 5% tin and zinc. While the 1943 Steel Penny looks silver, every penny from 1945 should be copper in color. If you have a silver-colored 1945 penny, it is likely either plated by a third party or, in very rare cases, struck on a leftover silver dime planchet (which would be extremely valuable).
Your Old Coin Could Be Valuable!
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Q: How can I tell if my 1945-S is a “uncirculated” coin?
A: An uncirculated coin will have “luster,” which is a satin-like shine that seems to rotate around the coin when you tilt it under a light. If the highest points of the coin—specifically Lincoln’s cheekbone and the tips of the wheat stalks on the back—look dull or flat, the coin is likely circulated.
Q: What is the most ever paid for a 1945-S Penny?
A: The record price for a 1945-S Wheat Penny was over $14,000 for a specimen graded PCGS MS67+ Red. This coin was virtually perfect, with zero scratches and a deep, orange-red brilliance that looked like it was minted yesterday.
Q: Where is the best place to sell my 1945-S penny?
A: For common circulated coins, a local coin shop is the easiest route, though they may only pay a few cents each. For high-grade or error coins, online marketplaces like eBay or specialized auction houses like Heritage Auctions are better for reaching serious collectors who will pay top dollar.