Your 1944 Wheat Penny Could Be Worth $408,000

The 1944 wheat penny carries the unique historical imprint of the World War II era, as these coins were minted from recycled shell casing copper, witnessing America’s wartime economic transformation. Despite over 2 billion coins being minted that year, hidden among them are extremely precious collectibles.

Common 1944 wheat pennies range in value from $0.15 to $14.71, depending on their condition and mint marks. However, the extremely rare 1944 steel wheat pennies can reach astronomical prices of auction over $400,000, with only 20-40 specimens known to exist worldwide. Each version has its unique collectible value and market performance, offering collectors a rich range of options.

Coin Value Contents Table

While most 1944 wheat pennies remain common pocket change, this value chart demonstrates how specific mint marks and exceptional preservation can elevate these shell-case coins into valuable treasures.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

1944 Wheat Penny Value Chart

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

Top 10 Most Valuable 1944 Wheat Penny Worth Money
Most Valuable 1944 Wheat Penny Chart

2005 – Present

The 1944 wheat penny chart shows values ranging from $34,500 to $408,000, with the 1944-S steel G6 commanding the highest price. These steel pennies are extremely rare because 1944 production was supposed to use copper-zinc alloy, not steel. Only a few examples exist across all mint marks.

The condition grade significantly affects pricing. The San Francisco mint (S) specimens generally bring higher values than Denver (D) or Philadelphia mint coins. Steel varieties consistently outperform their copper counterparts due to scarcity.

Most 1944 steel pennies likely ended up in circulation and were eventually lost or damaged. The surviving examples in higher grades are particularly sought after by collectors. The D mint produced several valuable varieties, with grades ranging from 53 to 63 showing substantial price differences.

Current market demand keeps pushing values upward for authenticated specimens. The rarity factor combined with collector interest creates a strong market for these error coins. Finding one in everyday change would be extraordinarily unlikely, making certified examples the primary trading vehicles in the collector market.

Also Read: Value Of Old Pennies By Year (1959-Present)

History of the 1944 Wheat Penny

The year 1944 marked a pivotal moment in American numismatic history when the wheat ear-shaped one-fen coin has returned to the original production plan mainly using copper.

In 1944, the US Mint produced over 2.1 billion pennies, setting a record for the time and rendering the 1944 Lincoln Wheat Penny one of the most ubiquitous among its counterparts.

This unprecedented production surge occurred across three minting facilities: approximately 1,435,000,000 at the Philadelphia Mint; 430,578,000 at the Denver Mint (D); and 282,760,000 at the San Francisco Mint (S). This marked the establishment of a historical record when a single mint achieved a production of over one billion coins for the first time.

The uniqueness of these 1944 pennies lies not only in their huge mintage but also in the extraordinary origin of their raw materials—spent ammunition shell casings from the war were melted down and used as alloy material for coin production. Renowned numismatic historian Roger Burdette cites National Archives records confirming that shell casings were delivered by wagonload to the Philadelphia Mint.

Meanwhile, Assistant Director of the Mint Leland Howard also confirmed in December 1943 congressional testimony: “The War Production Board has granted us sufficient virgin copper and shell casings to resume production of a copper-hued cent on January”

These “shell case cents” sometimes displayed unique coloration or powder residue streaks, adding to their historical appeal and creating tangible connections between battlefield artifacts and everyday commerce.

Of course, during such massive production, some uniquely charming error coins were inevitably born: approximately 30 1944 steel cents are believed to exist, with price tags ranging from $75,000 to $375,000. This material error has made the 1944 error coins among America’s most coveted numismatic treasures.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

Is Your 1944 Wheat Penny Rare?
1944 No Mint Mark Wheat Penny (RD)
1944 No Mint Mark Steel Wheat Penny
1944 D Wheat Penny (RD)
1944 D Steel Wheat Penny
1944 S Wheat Penny (RD)
1944 S Steel Wheat Penny

For collectors seeking to verify current rarity metrics and market positioning, the CoinValueChecker App offers instant access to updated scarcity data and comparative rankings.

Key Features Of The 1944 Wheat Penny

Understanding the characteristics of the 1944 wheat penny can help collectors identify genuine pieces, assess their preservation condition, and identify the subtle variations that can significantly impact value within this World War II series.

The Obverse of the 1944 Wheat Penny

The obverse of the 1944 wheat penny displays the familiar portrait of Abraham Lincoln that had graced American cents for over three decades since its 1909 debut. Above Lincoln’s portrait, the motto “IN GOD WE TRUST” forms a curved arc, while “LIBERTY” appears prominently along the left side of the portrait. The year “1944” is positioned to the right.

For coins minted at branch facilities, you’ll find a mint mark—either “D” for Denver or “S” for San Francisco—positioned directly beneath the date, while Philadelphia coins bear no mint mark.

The Reverse of the 1944 Wheat Penny

The reverse of the 1944 wheat penny features two ears of durum wheat, curving along both edges. Between them, the coin’s denomination “ONE CENT” appears in large capitals.

The wording “UNITED STATES OF AMERICA” is inscribed below the denomination and the Latin phrase “E PLURIBUS UNUM” along the top rim. These sweeping wheat stalks give the coin its enduring nickname and symbolize America’s agricultural prosperity.

Other Features of the 1944 Wheat Penny

The 1944 penny consists of bronze composition: 95 percent copper mixed with 5 percent zinc or tin to harden the metal for minting. Each coin measures 19.05 millimeters in diameter and weighs 3.11 grams, with plain edges without reeds.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

1944 Wheat Penny Mintage & Survival Data
1944 Wheat Penny Mintage & Survival Chart
Survival Distribution

Looking at the raw production numbers for 1944 wheat pennies, collectors might assume Philadelphia’s staggering 1.435 billion coins would flood the market while San Francisco’s modest 282.8 million would create scarcity.

Yet the survival data exposes a startling reality: San Francisco specimens have endured at nearly seven times Philadelphia’s rate (0.0085% versus 0.0013%), suggesting profound regional differences in how these wartime coins circulated and were preserved.

This significant disparity is likely due to the low intensity of the wartime economy on the West Coast, where the coins in San Francisco experienced a relatively mild commercial circulation, unlike in East Coast cities such as Philadelphia, where the coins circulated rapidly in defense factories and military facilities. On the other hand, the San Francisco coins may be more recognized by early collectors due to their superior product quality.

Denver’s survival rate of 0.0037% lies between the extreme of the intense eastern circulation and the more moderate western treatment, better supporting this geographical theory.

Understanding these survival patterns becomes crucial for serious collectors, as preservation rates often matter more than production volumes in determining long-term value.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

The Easy Way to Know Your 1944 Wheat Penny Value

Lincoln’s hair and the space between his cheek and jaw are the first places to check on a 1944 wheat penny. Turn it over and inspect the wheat stalks—well-separated grains indicate better preservation. Marks through the date or mintmark can lower value.

With just a quick photo, the CoinValueChecker App can instantly reveal condition, color, and potential errors, making it simple to see what your coin is really worth.

1944 Wheat Penny Value Guides 1944 No Mint Mark (Philadelphia)
1944-D (Denver)
1944-S (San Francisco)
1944 No Mint Mark Steel (Philadelphia)
1944-D Steel (Denver)
1944-S Steel (San Francisco)

The 1944 wheat penny series encompasses six distinct varieties that showcase American coinage at a pivotal historical moment across all three mint facilities. While the three regular copper issues from Philadelphia, Denver, and San Francisco represent the nation’s triumphant return to traditional composition after wartime steel production, their steel counterparts stand as extraordinary off-metal striking rarities among the most coveted treasures in numismatics.

Also Read: Lincoln Wheat Penny Value (1909-1958)

1944 No Mint Mark Wheat Penny Value

Although the Philadelphia Mint struck 1.435 billion Wheat Dollars and holds an important place in the history of American coinage, collectors prefer this version to the Denver and San Francisco versions.

For example, Philadelphia cent coins in MS67 grade sell for over $200, while Denver and San Francisco cents of the same grade typically trade around the $100 range. This counterintuitive market dynamic is due to the connection of this variety with the legendary steel misprint coin—approximately 25-30 Philadelphia 1944 pennies accidentally struck on leftover 1943 steel planchets, now selling at auction for $5,875 to $180,000.

The high prices create a magical “halo effect,” boosting interest in all Philadelphia 1944 pennies. Recent auction data shows strong appreciation for 1944 No Mint Mark coins: MS67+ and MS67 grade values doubled between 2019 and 2020, while lower grades remained stable.

This price increase reveals mature collecting markets’ quality-first principle: When the coin approaches the limit of its survival stock, the price of high-grade items shows an exponential growth, while the price fluctuations of relatively common grades remain more stable.

1944 No Mint Mark Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

The popularity of the coins in the same series directly inform the coin’s detailed auction performance records spanning multiple decades.

Current trading patterns reflect sustained collector engagement driven by both historical significance and potential error discovery opportunities.

Market Activity: 1944 No Mint Mark Wheat Penny

CoinValueChecker App

Not sure what your coins are worth? Get Instant Value • Grade • Error Detection with CoinValueChecker – the ultimate coin value app (FREE Usage Daily)

1944-D Wheat Penny Value

The 1944-D Wheat Penny, with the renowned minting quality of the Denver Mint and favorable supply and demand dynamics, presents a highly attractive investment opportunity in the wartime one-cent market.

With Denver’s production of 430.5 million coins, it occupies the optimal investment position between Philadelphia Mint’s oversupplied 1.435 billion and San Francisco Mint’s high-priced but limited 282 million coins.

Benefiting from consistent strike quality, 1944-D Wheat Pennies retain excellent detail, especially the clear facial features of Lincoln and the outline of the wheat ear, creating sustained demand among collectors, with MS68 full red specimens selling for up to $9,300.

Color designation significantly impacts valuation, with Red Brown (RB) examples trading at moderate premiums while Brown (BN) specimens offer the most accessible entry points for budget-conscious collectors.

Beyond the tremendous premiums for high-grade coins, this variety demonstrates strong market fundamentals, with circulated coins maintaining stable floor prices between $0.06 and $0.24, while MS62-MS65 grade uncirculated coins trade between $6 and $28, providing convenient entry points for new collectors and stable liquidity for investors.

1944-D Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

These investment fundamentals drive comprehensive auction performance records that chronicle decades of steady market evolution.

Market activity patterns reveal sustained collector enthusiasm that supports both liquidity and long-term appreciation potential.

Market Activity: 1944-D Wheat Penny
1944-S Wheat Penny Value

The 1944-S wheat cent reflects the San Francisco Mint’s transition from wartime emergency protocols back to standard copper production, though this changeover was complicated by contaminated planchet feeding systems. Steel blanks remaining from 1943 production accidentally stayed in machine hoppers and were fed into presses with 1944-S dies due to inadequate cleaning between production runs. Thus, the world-famous 1944-S Steel 2 known error coins were minted.

With a total mintage of 282 million coins, the 1944-S represents the lowest production among the three mints that year, creating natural scarcity that appeals to collectors seeking key dates coins with greater investment potential..

San Francisco Mint’s superior strike quality during 1940s resulted in exceptionally well-defined wheat stalks and Lincoln portrait details, with many specimens retaining sharp rim definition and full design separation. The “S” mintmark placement shows consistent positioning below the date, struck with uniform depth that enhances the coin’s visual appeal.

Market values reflect this quality advantage, with MS67 examples trading between $70-1,500, while circulated specimens maintain steady demand at $0.08-0.30 depending on grade and eye appeal.

1944-S Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

Historical auction records demonstrate the dramatic price evolution of 1944-S varieties across different collecting eras and market conditions.

Current market activity for 1944-S pennies shows sustained collector interest driven by both affordable entry points and the tantalizing possibility of discovering ultra-rare steel specimens.

Market Activity: 1944-S Wheat Penny
1944 No Mint Mark Steel Wheat Penny Value

The 1944 No Mint Mark Steel Wheat Penny represents an extraordinary achievement in wartime minting technology—born from the accidental convergence of zinc-coated steel planchet preparation processes and traditional copper striking procedures.

These coins feature sophisticated galvanized steel composition, possessing a distinctive silvery appearance and lightweight 2.7-gram weight. This rare material emergence resulted from 1943 leftover steel blanks accidentally mixing with copper planchets, or from steel blanks intended for Belgian 2-franc coins under U.S. Mint contract being inadvertently fed into Lincoln cent presses.

Currently, only 27 to 30 authenticated specimens exist, with the finest MS64 example achieving $180,000 at auction.

1944 No Mint Mark Steel Wheat Penny Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

The auction record chart demonstrates the dramatic value progression these technical marvels have achieved across different preservation levels over the decades.

Market activity data reveals sustained collector fascination with this pinnacle example of wartime minting innovation, driving consistent premium valuations.

Market Activity: 1944 No Mint Mark Steel Wheat Penny
1944-D Steel Wheat Penny Value

The 1944-D Steel Wheat Penny stands as a powerful witness to America’s pivotal transition from wartime scarcity to peacetime abundance—struck during the critical months when European victory seemed assured and the nation began reclaiming copper from battlefield shell casings.

Currently documented are seven demonstrably different specimens, representing approximately one-fourth of all estimated 1944 steel cents. These coins were created when Denver Mint operations accidentally utilized residual steel blanks during the historic return to copper production.

The finest known MS63 example achieved $115,000 at a 2007 auction, representing not merely a coin but a frozen moment when American industry pivoted from wartime necessity to postwar prosperity, forever capturing the nation’s transition from global conflict to domestic renewal.

1944-D Steel Wheat Penny Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

Auction records reveal the compelling price evolution these historically significant specimens have commanded across different collecting eras.

Market activity demonstrates sustained enthusiasm among collectors who recognize these coins as tangible artifacts of America’s most decisive historical transition.

Market Activity: 1944-D Steel Wheat Penny
1944-S Steel Wheat Penny Value

The 1944-S Steel Wheat Penny epitomizes the ultimate challenge in American numismatic collecting—a coin so impossibly rare it ranks among the greatest treasure hunts in modern history. This San Francisco variety, with only two specimens in existence, transcends traditional rarity classifications: one MS66 example achieved a record $408,000 in 2021, while the sole XF40 specimen brought $49,200.

Unlike Philadelphia’s Belgian coin contract explanation or Denver’s “residual blank theory,” San Francisco Mint’s production of these steel cents remains completely unexplained, creating an aura of mystery that exponentially amplifies their desirability.

San Francisco Mint’s consistently superior quality control procedures make this exceptional coin even more remarkable, with provenance documentation becoming as valuable as the coins themselves.

1944-S Steel Wheat Penny Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

The auction record chart illustrates how these legendary specimens have transcended traditional numismatic valuations to achieve museum-quality status.

Market activity reflects the extraordinary collector intensity surrounding these mythical rarities, where even rumors of potential discoveries generate widespread excitement across the numismatic community.

Market Activity: 1944-S Steel Wheat Penny

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

Rare 1944 Wheat Penny Error List

At the end of World War II, the pressure of wartime production had not yet completely dissipated, and the shortage of materials created special conditions for coinage that produced some of the most sought-after error coins in American numismatic history.

1. 1944-D DDO FS-101 Erros

This Denver doubled die obverse variety displays pronounced doubling on Lincoln’s portrait, date, and “LIBERTY” inscription, created when the master hub impressed the die at two slightly different angles during production. The doubling is a completely raised secondary images rather than mechanical damage or post-mint alteration.

Under magnification, collectors can observe distinct separation between primary and secondary images, particularly visible on Lincoln’s facial features and the date numerals. The 1944-D DDO represents significant die variety collecting, combining wartime production circumstances with dramatic visual appeal.

The 1944-D DDO’s authentication requires expert examination to distinguish genuine hub doubling from machine doubling or other forms of damage that might superficially resemble this valuable variety.

1944-D DDO FS-101 Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

2. 1944-D/S Erros

This version features a unique double mint mark appearance as the Denver “D” mint mark was directly impressed over the original San Francisco “S” mint mark, while the underlying “S” remains clearly visible. Under magnification, collectors can observe portions of the original “S” extending beyond the boundaries of the overlying “D” mintmark.

The overmintmark occurred during wartime die preparation when San Francisco dies were shipped to Denver and new mint marks were applied over the original ones to meet production requirements. This version showcases the measures taken by the mint during the war to enhance the efficiency of coin production. Mints can reuse each other’s marks by the method of covering without having to make brand new ones.

The 1944-D/S, with its historical significance and the striking visual evidence of the reuse of mint marks, has become a special edition favored by collectors.

1944-D/S Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

1944-D/S Wheat Penny (RB) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

CoinValueChecker App

Not sure what your coins are worth? Get Instant Value • Grade • Error Detection with CoinValueChecker – the ultimate coin value app (FREE Usage Daily)

1944-D/S Wheat Penny (BN) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

3. 1944-D/S OMM FS-511 Erros

The 1944-D/S OMM FS-511 is an overmintmark error showing a Denver “D” struck over a San Francisco “S” mintmark. The underlying “S” appears with curves visible to the left and bottom of the “D,” creating serifs that extend beyond the Denver mintmark boundaries.

The FS-511 variety shows stronger definition in the lower curve of the “S” and requires magnification to identify properly. This error occurred during die preparation when the original “S” mintmark wasn’t completely removed before applying the “D.”

Authentication can be challenging as weak overmintmarks are easily overlooked during examination or confused with die wear traces. The variety trades at premium prices in the collector market, particularly in higher grades with red surfaces.

1944-D/S OMM FS-511 Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

1944-D/S OMM FS-511 Wheat Penny (RB) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

1944-D/S OMM FS-511 Wheat Penny (BN) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

4. 1944-D OMM FS-512 Erros

The 1944-D OMM FS-512 is an overmintmark error showing a Denver “D” struck over a San Francisco “S” mintmark. FS-512 displays the underlying “S” shifted to a different alignment, with remnants appearing more prominently to the right side of the “D” and showing different curve patterns in the upper portion of the mintmark area.

FS-512 exhibits more pronounced visibility in the upper curves and right-side positioning, distinguishing it from the FS-511 variety. This error occurred during die preparation when the original “S” mintmark wasn’t completely removed before applying the “D.”

The FS-512 is the less prominent and therefore more affordable example, not to be confused with the OMM-001 variety. Examples have sold for around $250 in MS63 BRN condition. The variety requires magnification for proper identification and authentication due to the subtle positioning differences from other overmintmark types.

1944-D OMM FS-512 Weak Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

5. 1944-D/D RPM (FS-502 And FS-507) Erros

These repunched mintmark varieties show the Denver “D” mintmark punched multiple times in distinctly different directions during die preparation. FS-502 displays the repunched “D” shifted slightly to the southwest, with the secondary impression creating a strong doubling effect on the lower left portion of the mintmark, making the bottom curve appear noticeably thickened and creating a distinctive shadow effect.

FS-507 shows the repunching in a northeast direction, with the doubled impression most visible on the upper right section of the “D,” creating pronounced thickening in the vertical stroke and upper curve area. The FS-502 variety exhibits moderate repunching strength, while FS-507 demonstrates more dramatic displacement with stronger secondary impressions.

1944-D/D RPM FS-502 Wheat Penny (RD) Price/Grade Chart

Price by 1-70 Grade (Latest Auction Records Included)

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

Where to sell Your 1944 Wheat Penny?

Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

1944 Wheat Penny Market Trend
Market Interest Trend Chart – 1944 Penny

*Market Trend Chart showing the number of people paying attention to this coin.

FAQ about the 1944 Wheat Penny
1. Is there anything special about a 1944 wheat penny?

What is unique about the 1944 Wheat Pennies is the rare variety of 1944 Steel Wheat Penny, made of an alloy of zinc and steel. Given that fewer than 30 pieces of these coins exist, they can reach the price of 1,000,000. Even in lower grades, they are worth thousands.

2. Which 1944 penny is worth a lot of money?

The 1944 Steel Wheat Penny is one of the most expensive and sought-after coins ever. The 1943 Bronze Wheat Penny is also collectible, and a specimen of the kind was sold for $1,000,000 in a private auction.

3. How can I tell if my 1944 penny is made of steel?

The easiest way to identify a 1944 steel penny is the magnetic test – genuine steel pennies will stick firmly to a magnet, while regular copper pennies will not. Additionally, steel pennies have a distinctive silver-gray appearance rather than the typical reddish-brown copper color, and they weigh approximately 2.7 grams compared to 3.11 grams for copper pennies.