1946 Wheat penny value depends on mint mark, grade, color designation, surface quality, authenticity, and variety—not age alone. Most circulated 1946 Lincoln cents are common. Exceptional certified red coins and recognized varieties can be worth much more, but auction records are not promises for an ordinary coin.
Identify the 1946 cent
The obverse shows Abraham Lincoln. The reverse uses the Wheat Ears design. The coin is 19 millimeters in diameter, weighs about 3.11 grams, and has the 95% copper composition used for regular 1946 cents. The mint mark, when present, appears below the date.
| Issue | Mint mark | Reported mintage |
|---|---|---|
| Philadelphia | None | 991,655,000 |
| Denver | D | 315,690,000 |
| San Francisco | S | 198,100,000 |
High mintages help explain why ordinary circulated examples are widely available.
What determines value?
- Grade: wear, marks, strike, and eye appeal affect the numeric grade.
- Color: copper coins may be designated Brown, Red-Brown, or Red by grading services.
- Original surfaces: cleaning, polishing, corrosion, or damage can reduce marketability.
- Variety: a recognized die variety needs diagnostic confirmation.
- Certification and demand: registry-quality pieces can behave differently from raw coins.
1946 Wheat penny price context
PCGS CoinFacts reports auction records that illustrate the exceptional end of the market: $14,950 for a 1946 Philadelphia MS67RD example sold in 2006, $3,120 for a 1946-D MS67+RD sold in 2025, and $16,800 for a 1946-S MS67+RD sold in 2022. These are unusually high-grade certified coins, not typical values.
For a realistic estimate, match the exact mint, variety, color, grade, and problem status to recent completed sales. Dealer asking prices and old auction records may not represent today’s achievable price.
The 1946-S/D over mintmark
A recognized 1946-S/D over mintmark variety shows evidence of an S punched over a D. Minute damage, machine doubling, plating-like effects, or imagination can resemble a variety. Compare authenticated diagnostics and seek expert attribution for a plausible example. PCGS lists an auction record of $3,173 in 2019 for its FS-511 Red category.
Safe examination checklist
- Hold the coin by the edge over a soft surface.
- Record weight and diameter with calibrated tools.
- Inspect the date and mintmark under good light and moderate magnification.
- Photograph both sides and the edge without filters.
- Do not clean, polish, scrape, or chemically treat it.
- Compare exact-grade completed sales and grading fees before submitting.
Should the coin be professionally graded?
Consider certification when authenticity, a recognized variety, or a plausible high grade could make the expected value exceed grading, shipping, insurance, and selling costs. Common worn pieces usually do not justify individual grading. A reputable coin dealer or numismatist can provide an initial in-person opinion.
For comparison with another collectible coin, see the 1921 Silver Dollar Value Guide.
Frequently asked questions
Is every 1946 Wheat penny valuable?
No. Most circulated examples are common; value rises with genuine rarity, condition, color, and collector demand.
Should I clean a copper penny before selling?
No. Cleaning can permanently alter the surface and reduce collector value.
Does no mint mark mean an error?
No. Regular Philadelphia cents from 1946 normally have no mint mark.
Sources reviewed
- PCGS CoinFacts: 1946 Cent
- PCGS CoinFacts: 1946-D Cent
- PCGS CoinFacts: 1946-S Cent
- PCGS CoinFacts: 1946-S/D FS-511
Last reviewed: August 15, 2026. Values change and grading is subjective. Auction records exclude some transaction costs and do not guarantee a sale price.