The 1946 Lincoln Wheat Penny is a notable coin among collectors and numismatists for its post-World War II mintage, historical significance, and collectibility. While not particularly rare, this penny marks a transitional era in U.S. coinage and remains a popular entry point for beginners and seasoned coin enthusiasts alike.
In this guide, we’ll explore the history, varieties, mintage, values, and tips for collecting the 1946 Wheat Penny.
History of the 1946 Lincoln Wheat Penny
The Lincoln Wheat Cent, also known as the “Wheat Penny,” was first minted in 1909 to commemorate the 100th anniversary of President Abraham Lincoln’s birth. Designed by Victor David Brenner, the obverse features Lincoln’s right-facing portrait, while the reverse showcases two wheat stalks surrounding the denomination “ONE CENT.”
The 1946 Wheat Penny was part of the standard post-war coinage and the first full year of production following the end of World War II. It marked a return to the use of 95% copper and 5% tin and zinc after the temporary switch to steel in 1943 and altered alloys during the war effort.
Mint Locations and Mintage Numbers
In 1946, Lincoln Wheat Pennies were struck at three U.S. Mint facilities:
- Philadelphia (no mint mark)
- Mintage: 991,655,000
- Denver (D mint mark)
- Mintage: 315,690,000
- San Francisco (S mint mark)
- Mintage: 198,100,000
In total, over 1.5 billion 1946 Lincoln cents were produced, making it a very common coin in circulation at the time. Despite the high mintage, mint-state and high-grade versions remain desirable to collectors.
How to Identify a 1946 Wheat Penny
Obverse (Front):
- Portrait of Abraham Lincoln
- Date: 1946
- Mint mark below the date (D or S if applicable; no mark for Philadelphia)
- Legend: “IN GOD WE TRUST” along the upper rim
- “LIBERTY” on the left
Reverse (Back):
- Two wheat stalks encircling the words:
- “ONE CENT”
- “UNITED STATES OF AMERICA”
- Motto: “E PLURIBUS UNUM” at the top
Metal Composition and Weight
- Composition: 95% copper, 5% tin and zinc
- Weight: 3.11 grams
- Diameter: 19.05 mm
- Edge: Plain
This composition gives the coin a distinct reddish-brown to dark brown hue depending on condition and toning.
1946 Lincoln Wheat Penny Value
The value of a 1946 Wheat Penny largely depends on its mint mark, condition, and rarity of error types. Here’s a general pricing breakdown:
Circulated (Average Condition):
- 1946 (no mint mark): $0.05 to $0.15
- 1946-D: $0.05 to $0.25
- 1946-S: $0.05 to $0.25
Uncirculated (Mint State):
- MS60-MS63: $1 to $3
- MS64-MS65 (Red): $5 to $15
- MS66+ (Red): $25 to $150+ depending on grading service and eye appeal
Coins graded MS67 RD or higher by PCGS or NGC are rare and can fetch $250 to over $1,000 at auction.
Rare Errors and Varieties
Error coins are highly collectible, and several interesting varieties of the 1946 Wheat Penny have been documented:
1. 1946 Doubled Die Obverse (DDO)
- Look for doubling in the date, LIBERTY, or IN GOD WE TRUST
- These are scarce and can be worth $20 to $150+, depending on condition
2. Off-Center Strikes
- If a coin was not properly aligned during striking, it may be off-center
- Values range from $10 to $100+ depending on severity
3. BIE Error
- A die break between the letters “B” and “E” in LIBERTY can resemble an “I”
- Popular among error collectors; usually valued at $5 to $25
4. Die Cracks and Cuds
- Minor die breaks or cuds (die chips at the rim) add numismatic interest and can be worth a few dollars more than face value
Tips for Collectors
If you’re interested in collecting the 1946 Lincoln Wheat Penny, here are a few tips to consider:
1. Focus on Condition
- Aim to collect coins in uncirculated or mint state grades (MS60 and above)
- Red-toned coins (denoted as RD) are more valuable than Brown (BN) or Red-Brown (RB)
2. Store Properly
- Use acid-free 2×2 coin holders or coin flips
- Avoid handling coins with bare hands—use cotton gloves to prevent oils from affecting the surface
3. Buy Certified Coins
- For high-grade coins, buy those graded by PCGS, NGC, or ANACS
- Certified coins offer authenticity, accurate grading, and better resale potential
4. Check Your Pocket Change
- While rare, 1946 pennies still occasionally turn up in circulation or in inherited coin jars
Is the 1946 Wheat Penny Rare?
While the 1946 Wheat Penny is not rare in circulated grades due to its large mintage, high-grade examples and rare errors can be much harder to find. Mint State coins, especially those with full red luster, are more desirable and valuable among collectors.
If you find a 1946 penny in exceptional condition or with a unique error, it’s worth having it evaluated by a professional.
Final Thoughts
The 1946 Lincoln Wheat Penny may not be the rarest coin in your collection, but it carries historical value and a nostalgic connection to post-war America. Whether you’re a beginner looking to start a coin collection or an investor seeking high-grade specimens, this coin offers an affordable and accessible way to enjoy numismatics.
Key Takeaways:
- Over 1.5 billion 1946 Wheat Pennies were minted
- Most common in circulated condition, but valuable in Mint State
- Collectors seek errors, doubled dies, and full red luster
- A great coin for beginners and history buffs
Start your hunt today—you might just uncover a gem in your pocket change!