A penny from 1946 is a beautiful coin that features Abraham Lincoln on the obverse and two wheat branches on the reverse, hence the name. It was minted in Philadelphia, San Francisco, and Denver. The total number of coins minted is over a billion and a half.
The 1946 pennies are popular among collectors. While they are not particularly valuable or expensive, wheat cents from 1946 are sought-after among numismatists as they are an important piece of the US coin history, especially those containing rare mint errors. Moreover, this was the first edition of cents post World War II.
Continue reading to find out more about this wonderful coin!
Table of Contents
- 1 The 1946 Wheat Penny Details
- 2 1946 Wheat Penny Value
- 2.1 How Much Is a 1946 Wheat Penny worth in 2023?
- 2.2 What Affects the Value of 1946 Wheat Penny?
- 2.3 1946 Penny Value Chart
- 2.4 Importance of Using Professional Grading Services for 1946 Wheat Penny
- 2.5 1946 Wheat Penny Double Die Error
- 2.6 1946 Wheat Penny Inverted Mint Mark Error
- 2.7 1946 Wheat Penny Clipped Planchet Error
- 2.8 1946 Wheat Penny L on Rim Error
The 1946 Wheat Penny Details
Let’s talk about the details of the 1946 wheat penny.
1946 Wheat Penny Design
The design on a 1946 wheat penny was actual from 1909 to 1958. In 1909 the US Mint decided to honor Abraham Lincoln, ex-president of the United States, famous for abolishing slavery in the country, as well as many other political and civil accomplishments.
He got his place on the obverse of the penny, which Victor David Brenner, a sculptor from Lithuania, designed. This design of the front side of the coin was preceded by the famous Indian Head penny that ran for fifty years.
Apart from the right-facing portrait of the ex-president, you can also see the US motto, IN GOD WE TRUST, as well as the year 1946, on the front side of the penny. The motto is engraved at the top, and the year is on the right side. The left side is reserved for the word LIBERTY, which replaced the picture of Lady Liberty from one of the previous designs of this coin.
If the cent were minted in Denver or San Francisco, you would also see the mint mark D or S on the Obverse, right below the year. If it was minted in Philadelphia, there is no mint mark at all.
The reverse of the 1946 penny is engraved with another one of the US mottos on top – ET PLURIBUS UNUM, meaning “out of many, one,” signifying the unity of the country’s states. Right below is the denomination and the country’s name. All of this is surrounded by two sheaves of wheat towards the plain edges of the coin.
Related: Rare & Valuable Pennies – Find Out Which Pennies Are Worth Money
1946 Wheat Penny Composition
A cent from 1946 is made out of brass, which is an alloy of copper and zinc. This particular coin consists of 95% copper and 5% zinc. In fact, 1946 was the last year before the US Mint started making pennies using tin and zinc in addition to copper, which is another reason this coin is popular among collectors.
This penny weighs 3.11 grams (0.1 oz), and it is 19 millimeters in diameter, which translates to roughly 0.7 inches. In addition, it is 1.5 millimeters (0.05 inches) thick. Its edge is plain.
Related: 1944 Wheat Penny Value – A Complete Guide
1946 Wheat Penny Mintage
A wheat penny from 1946 has three different varieties based on the mint mark engraved on the front side of the coin. This mint mark indicates the location of the minting. Let’s learn about each of the varieties you can come across.
1946 Wheat Penny No Mint Mark
If you find a cent from 1946 and you cannot see a mint mark on the Obverse, it means that it was made in Philadelphia. The Philadelphia Mint was the first national mint for a while before the others opened. Therefore, there was no need for an indication of the minting location – it was clear that all of the coins were minted there. Even now, Philadelphia doesn’t use a mint mark on the pennies.
The Philadelphia Mint produced almost a billion pennies in 1946. This is far more than the other two mints, making this variety the most common of the three.
Related: The 1942 Wheat Penny Value, History, Designs & Error List
1946 Wheat Penny D Mint Mark
The pennies from 1946 that have a D mint mark on the front side of the coin were minted in Denver. The Denver Mint was opened in 1906, and it is still producing coins as of 2023.
There were a total of over 315 000 000 pennies made in Denver in 1946. This makes the 1946-D wheat penny the second-rarest variety. Since Denver produced three times fewer pennies than Philadelphia, the coins with a D mint mark are more valuable and difficult to find than those with no mint mark.
1946 Wheat Penny S Mint Mark
The third variety of wheat cent from 1946 is the one with an S mint mark below the date on the coin. This mint mark indicates that the penny was made in the San Francisco Mint. Furthermore, this is the rarest variety out of the three, as this mint produced a bit under 200 000 000 pennies in 1946.
Related: 1945 Wheat Penny – Complete Guide
1946 Wheat Penny Value
How Much Is a 1946 Wheat Penny worth in 2023?
A 1946 Wheat Penny is generally worth between $0.05 to $4.00, depending on its condition and grading. A 1946 S Wheat Penny graded 67 was sold for a whopping $16 800 in 2022.
What Affects the Value of 1946 Wheat Penny?
Several factors go into determining the value of a penny from 1946. Not all pennies are valued the same, even if they were made in the same year and mint, so here are some things that can affect the final value of your coin.
Rarity
Rarity is the most important thing that goes into evaluating a coin. Long-term collectors and numismatists usually want to get their hands on a coin that not many other people have, so they are willing to pay a lot of money for those pieces.
Mint Marks
Mint marks affect the value of a penny because of the different mintage rates of different mints. In the example of a wheat penny from 1946, Philadelphia produced the most coins, making them the most common and, therefore, the least valuable. On the other hand, San Francisco made the least amount of pennies, making them the rarest, hence more valuable.
Mint Errors
Collectors are often after unique pieces, and nothing makes a coin more unique than a rare mint error! Those errors happen during the minting process, and they can give a nice touch to a coin. They can also be incredibly rare sometimes, so it’s important to look out for them as they can increase the value of your penny by a ton.
Condition
Another thing that can significantly affect the value of your 1946 penny is its condition. Pennies in poor condition are usually worth next to nothing, while those that are in the mint state can achieve a price hundreds of times their face value.
Related: 1952 D Wheat Penny – Full Guide
1946 Penny Value Chart
| Condition | 1946 Wheat Penny No Mint Mark | 1946-D Wheat Penny | Mint State (60-65) |
| Poor | $0.01 | $0.01 | $0.01 |
| Good | $0.01 | $0.03 | $0.05 |
| Fine | $0.05 | $0.07 | $0.10 |
| Extremely fine | $0.20 | $0.25 | $0.30 |
| About uncirculated | $0.40 | $0.50 | $0.60 |
| Mint State (65-70) | $1 – $5 | $1 – $5 | $1 – $5 |
| Mint state (65-70) | $5 + | $5 + | $5 + |
As you can see from the chart, pennies that are in poor condition sell for their face value only. The coins in good condition can sell for several cents, those that are in extremely fine condition for around a quarter of a dollar, and uncirculated ones for approximately half a dollar.
Pennies from 1946 that are preserved well enough to be graded 60 to 65 are valued between a dollar and five, and those that are graded more than 65 are typically much more expensive.
Keep in mind that these are just approximate prices. The final price depends on whether you are selling or buying, as well as on the demand at the moment you are looking to sell or buy.
For example, one wheat penny from 1946 with an S mint mark graded 67 was sold for a whopping $16 800 in 2022. Several months later, a 1946-S penny with a grade of 66 was sold for only $17.
Most of the pennies graded between 65 and 67 reach the price of several hundred dollars. It is incredibly rare to find a penny from 1946 with a grade of 68 and more, but if you do, you can almost certainly be sure that you will be able to sell it for a lot of money.
Related: 1943 Steel Wheat Penny Worth a Million Dollars
Importance of Using Professional Grading Services for 1946 Wheat Penny
Whether you are planning to sell or buy a penny from 1946, you should consider using one of the reputable professional grading services.
If you want to sell a penny and you don’t have enough experience with grading coins, you may have a highly valuable specimen in your possession without even knowing. You can sell a coin for only several dollars, and it could be worth thousands. Having it professionally graded can ensure you know what price to ask for it.
If you are buying a coin, especially if you do it online, you should require the seller to show you the proof of certificate. This doesn’t matter a lot if you are not paying a lot of money, but if you are, this is a must. You don’t want to get scammed!
1946 Wheat Penny Error List
We already mentioned that mint errors can affect the price of a coin. These errors are another reason you should professionally grade your coins – the graders may notice something you cannot by yourself.
Let’s see some of the common errors you may find in a wheat penny from 1946.
1946 Wheat Penny Double Die Error
A double die is a mint error that occurs when the machines that engrave the planchets (empty pieces of metal that are about to become coins) strike two times. This can happen on both obverse and reverse.
1946 Wheat Penny Inverted Mint Mark Error
You can find the inverted mint mark error on some of the wheat pennies from 1946 made in San Francisco. Inspect your pennies carefully because the letter S seems similar when inverted.
1946 Wheat Penny Clipped Planchet Error
The clipped planchet is one of the most interesting errors that you can come across in your numismatic journey. It is easily noticeable – look for any missing parts on the edges of your 1946 penny.
1946 Wheat Penny L on Rim Error
This error is one of the most common ones in 1946 pennies. If you have a coin with this mint mistake, you will see that the letter L in LIBERTY is engraved on the rim of the cent.
Resources for Further Exploration of 1946 Wheat Penny
If you are interested in further exploration of a 1946 penny or other significant coins in US history, you can check out these books and websites:
- The History of the United States Coinage by Q. David Bowers
- History of the United States Mint and its Coinage by David W. Lounge and Mary Jo Mead
If you are looking to network or trade, check out these coin clubs and shows:
Finally, if you want to buy or sell your 1946 pennies, here is where you can do that:
Conclusion
A wheat penny from 1946 is a beautiful piece of the numismatic history of the US to add to your collection. It is historically significant and easy to find, so you don’t need to go through a hassle to get ahold of it.
There are three varieties – pennies minted in Philadelphia, Denver, and San Francisco. You can recognize them by no mint mark, D mint mark, and S mint mark, respectively.
While the pennies from 1946 are typically not highly valuable, some specimens can reach the price of tens of thousands of dollars. Who knows? Maybe you have several of those forgotten in a basement somewhere.
We hope that you appreciated reading about this amazing penny. If you have more questions or any thoughts that you want to share, fellow fans of coins here are happy to hear from you!
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