Most 1944 wheat pennies are easy to find because of their high mintage. But does it mean that these coins won’t earn you a great profit from their sale?
Better still, most miners and collectors yearn to add these coins to their collections. If you are lucky enough to have the 1944 steel wheat penny, please treasure it.
Also, any 1944 wheat penny with mint errors can earn you a great fortune. All of them honor Abraham Lincoln’s birthday. The reason for their mintage attracts the hearts of most coin dealers.
So, you can expect to learn all about the 1944 wheat penny value in this article. Also, you’ll know how much you’ll pay or get from the coin’s sale.
1944 Wheat Penny Value by Various Series
Once you know the prices of various wheat pennies, you’ll have a proper step while bargaining. So, below is a perfect guide to the cost of the 1944 wheat pennies under different grades.
1922 Wheat Penny Value Chart
|Mint Mark||Good||Fine||Extremely Fine (EF)||Uncirculated|
|1944 No Mint Mark Wheat Penny Value||At least 0.20 USD||At least 0.20 USD||At least 0.40 USD||At least 0.89 USD|
|1944 “S” Wheat penny Value||At least 0.30 USD||At least 0.30 USD||At least 0.50 USD||At least 2.31 USD|
|1944 “D” Wheat Penny Value||At least 0.20 USD||At least 0.20 USD||AT least 0.40 USD||At least 1.14 USD|
|1944 Steel No Mint Mark Wheat Penny Value||At least 10,000 USD||At least 50,000 USD||At least 100,000 USD||At least 158,000 USD|
|1944 “D” Steel Wheat Penny Value||At least 10,000 USD||At least 50,000 USD||At least 100,000 USD||At least 115,000 USD|
|1944 “S” Steel Wheat Penny Value||At least 10,000 USD||At least 50,000 USD||At least 100,000 USD||At least 373,750 USD|
History of the 1944 Wheat Penny
The 1944 Lincoln wheat penny has an intriguing history. It’s among the family of wheat pennies that the US made from 1909 to 1958.
Wheat pennies came in to honor the 100th anniversary of the late US president, Abraham Lincoln. Its design came on August 2nd, 1909.
A New York designer, Victor David Brenner, made the art on these coins in 1909. Also, besides honoring Abraham Lincoln’s birthday, the 1944 wheat pennies had some connection with World War II.
In 1943, the government allowed the mints to make wheat pennies using an alloy of zinc and steel. The US army needed copper to make more armor for the war.
But the citizens complained that the 1943 steel wheat pennies rusted fast. Also, people lost money because they confused the 1943 penny with a dime.
So, in response to people’s pleas, the government issued the 1944 wheat pennies using copper. Such coins lasted for many years with rust. Also, it was easy to separate it from a dime.
While making zinc-copper wheat pennies, some planchets had steel material. The Philadelphia mint struck some 1944 wheat pennies on the steel planchet.
Remember, the 1944 steel wheat pennies were not error coins. Today, they have one of the highest prices in the market because of their low mintage and rarity.
Looking at the numbers, the NGC has recorded around 20 to 40 pieces of the 1944 steel wheat pennies without a mint mark. Also, NGC has recorded at least three 1944 “S” steel wheat pennies. There are around four units of the 1944 “D” steel wheat pennies you can get today.
Also, the Philadelphia mint struck 1,435,400,000 pieces of the 1944 wheat pennies. The Denver mint struck 430,578,000 coins with the “D” mint mark.
From the San Francisco mint, they struck 282,760,000 1944 wheat pennies. It shows that all 1944 wheat pennies had the highest mintage in US coinage history.
So, expect them to have a low market value. It’s because of a low rarity level. You can sell the coin as a bullion or collectible, depending on its present condition.
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Features of the 1944 Wheat Penny
It’s safe to know your 1944 wheat penny before determining its value. You’ll have zero chance of buying a fake one. So, here are the key aspects to note about this coin as designed by Victor David.
The Obverse of the 1944 Wheat Penny
Every 1944 wheat penny has an attractive obverse. Expect to see the fantastic portrait of the late US president, Abraham Lincoln. He appears while facing to the right.
The words “IN GOD WE TRUST” arch over Lincoln’s head. At the center-left, you’ll see the word “Liberty.”
Also, the artisans engraved the 1944 mark on the bottom left. You’ll enjoy the beauty of this lettering and year-mark if your 1944 wheat penny has little or no wear.
The Reverse of the 1944 Wheat Penny
The aspects of the coin’s reverse have a profound message about US culture. Looking at the two wheat sheaths, they give the coin its name.
Also, these two sheaths speak of the blessings and richness of the US. It’s a message of hope to the American people.
Across the coin’s top, there is the lettering “E. PLURIBUS. UNUM.” It means “out of many, one” and says much about the US motto.
You’ll also see the phrase “ONE CENT” in the largest font among all the lettering. Remember, the sheaths cover each of the “ONE CENT” and “UNITED STATES OF AMERICA” terms.
Other Key Features of the 1944 Wheat Penny
The artisans at the three mints made the 1944 wheat pennies using copper and zinc. Expect them to have 95% copper and 5% zinc.
All 19944 wheat pennies have a diameter of 19.05 millimeters (mm) or 0.75 inches. The coins are 1.5 mm, or 0.06 inches thick.
Also, the coins are 3.1 grams heavy, or 0.11 oz on a weighing scale. The wheat penny will be 2.7 grams or 0.095 oz if it has steel metal.
Only the 1944 wheat pennies from San Francisco and Denver had a mint mark. The marks are “D” for Denver and “S” for San Francisco. They are present under the year 1944 on the obverse.
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1944 Wheat Penny Value Guides
After understanding what your 1944 wheat penny looks like, it can become easy to assess its price. The current prices of these coins vary with the rarity, grade, and mint mark.
The 1944 Wheat Penny without a Mint Mark
If your 1944 wheat penny is in the grades of good (G 4) and fine (F 12), it will have a price of around 0.20 USD. The price is the same because of the massive amount of wear.
When in the EF 40 class, it will earn you around 0.4 USD. The situation improves if the coin is in mint state 60 or above; the wheat penny costs at least 0.89 USD.
Remember, these 1944 wheat pennies without a mark have the lowest value in all grades. It is because they aren’t scarce.
The 1944 “D” Wheat Penny
Here, the coins have a better price than those from the Philadelphia mint. But still, if the wheat penny is in the good (G 4) or fine (F 12) grade, it will cost you at least 0.20 USD.
Also, you’ll pay around 0.4 USD for this coin if it is on the EF 40 scale. You can get more than 1 USD from the sale of this coin if it falls in the mint state (MS) grading.
The 1944 “S” Wheat Penny
Owning a 1944 wheat penny from the San Francisco mint can earn you some better profit. If you compare it with the Denver and Philadelphia mint ones, you’ll see this fact.
The coin will earn you at least 0.30 USD in their lowest good and fine grade. In the EF 40 class, a penny will give you at least 0.5 USD. Expect to get at least 2 USD if the penny is in the MS 60 grade and above.
The 1944 Steel Wheat Penny
Getting the 1944 steel wheat pennies in today’s market isn’t easy. All the ones from the three mints have almost the same value. So, if you own any coins, know that you hold a vast fortune.
If you have the coin in its lowest grade, you’ll earn at least 10,000 USD from its sale. It will give you at least 50,000 USD when in the fine grade.
Remember, it is rare to have a 1944 steel wheat penny in the EF 40 grade. But owning it can give you at least 100,000 USD from the sale.
You’ll earn a fortune if you have a 1944 wheat penny in the uncirculated grade (at least MS 60). The coin will give you at least 500,000 USD. All 1944 wheat penny coins in this class have the highest rarity and quality.
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How to Grade the 1944 Wheat Penny
Before you get the final price of your 1944 wheat penny, getting its grade is essential. Every dealer values a coin’s grade before selling it. Here is how you can place your pennies into various classes.
The 1944 wheat pennies in this class never went into circulation. If the coins moved through different hands, it is because of being sold or given as gifts.
Note that three US mints made these coins for a few collectors. Afterward, the owners kept them in safe places to avoid any marks.
So, expect such 1944 wheat pennies to have that new, shiny mint luster. Your coins in this grade will be bright red gold. It’s because it will have zero traces of rust.
Also, it isn’t easy to get any marks on these coins. Sometimes, you’ll need a magnifying glass to see such wear.
It makes the coins have a high market price even when they look faded. Expect them to have a grading of at least MS 60.
Owning a 1944 Lincoln wheat penny in this grade can still earn you a fortune. The coins came into circulation but never went through many hands of trade.
Details on the head and tail are still in perfect condition. Since the key elements are still present, dealers will still cash out to own such coins.
But the coins can have some visible marks. You’ll see the wear on Lincoln’s ears and hair. Remember, the two parts are the high points of the coin.
The coin will still have the copper coating despite the marks being present. Also, the layer makes the 1944 wheat penny have a sweet brown tone.
It appeals to most dealers’ eyes. You’ll have a high chance of selling it at a higher price.
Any 1944 wheat penny in this class went through many hands of trade. But they have a little too much wear on both sides.
The wear makes the coin have a low price. Also, a few collectors will fall for the coin because of its many marks.
Such a coin is still a great collectible. Its details, including Lincoln’s, year marks, and letterings, are still present.
You should never wish for your 1944 wheat penny to fall in this grade. The penny will cease to be a collectible but a bullion wheat penny.
It is because the coin went through many hands of circulation and has a lot of wear. Due to poor storage and handling, the penny would have lost many details.
You’ll see the damage on the coin’s lettering and year mark. Most letters appear to have total wear and seem close to the edges.
The images on the obverse and reverse are flat due to heavy wear. But all isn’t lost because some upcoming dealers in the market still go for the coins.
1944 Wheat Penny Errors
Like any other coin series, the 1944 wheat penny also has some errors. If you own some in excellent condition, they can be worth a fortune. Here are some of the top 1944 wheat pennies errors.
1944 Wheat Penny Doubled Die Obverse
Sometimes the mint struck these coins multiple times to get the perfect look. As it happened, the year mark, the word liberty, and Lincoln’s eyes look doubled.
The error is easy to see, especially if the coin has fewer wear marks. It will earn you at least 5 USD in the almost uncirculated state.
1944 Wheat Penny Missing Dot Error
Also, on the coin’s reverse, this 1944 wheat error coin lacks a dot on the “E. PLURIBUS UNUM” phrase. You’ll see the error between the E and PLURIBUS.
Such a mintage mistake came after the artisans struck the coins on an aging die. Today, such an error coin can sell for at least 9 USD because of its rarity.
1944 Wheat Penny Struck on a Thicker Planchet
Planchet errors on various coin series are common. But this 1944 wheat penny being an unusual heavy planchet makes it more valuable.
The error coin came from the Philadelphia mint. A recent auction sold it for around 1035 USD.
Below are the top issues that concern most dealers and collectors. You’ll know more about these coins and how people view them today.
Are there any rare 1944 wheat pennies today?
Though the 1944 wheat pennies had the highest mintage, some rare exceptions to these coins are available. The coins are either in steel or have unique errors.
Getting them isn’t easy today. Also, such coins cost quite a fortune.
Does the 1944 wheat penny still have some excellent value today?
The value of most 1944 Lincoln wheat pennies is low in today’s market. They go above their face value by a few dollars or cents. But you’ll earn more if they have mint mistakes or are steel coins.
What is special about the 1944 wheat pennies today?
Most coin collectors love these coins because of their design on the obverse. Also, the 1944 steel wheat pennies have a high rarity. So, dealers can pay a fortune to own them.
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