1942 US Penny Value Guide and Worth

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Posted Jan 11, 2025

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Detailed close-up of an old US penny on wood, showcasing its rustic texture.
Credit: pexels.com, Detailed close-up of an old US penny on wood, showcasing its rustic texture.

The 1942 US penny is a relatively common coin, but its value can vary depending on its condition and any special features it may have.

A circulated 1942 US penny in good condition is worth around 1-2 cents, as it's a common coin that has been in circulation for many years.

In fact, the majority of 1942 pennies are worth only face value, which is 1 cent.

However, if you have a 1942 US penny in excellent condition or with special features such as a high grade or a rare mint mark, its value can increase significantly.

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What is a 1942 US Penny Worth?

A 1942 US penny can be worth a pretty penny, depending on its condition. In Average Circulated (AC) condition, it's worth around 36 cents.

Coins that are in certified mint state (MS+) condition can bring in a higher price. One such coin could bring as much as $25 at auction.

The price of a 1942 US penny can vary greatly depending on its condition.

Composition and Manufacturing

Credit: youtube.com, 1942 Penny Worth Money - How Much Is It Worth and Why?

The 1942 Lincoln Wheat Penny has a metal composition of 95% copper and 5% zinc and tin. This unique blend of metals gives the coin its distinct characteristics.

The coin weighs approximately 3.11 grams, which is a relatively light weight for a coin. This weight is consistent across all minted coins.

The 1942 Lincoln Wheat Penny was minted at three locations in the United States: Philadelphia, Denver, and San Francisco. A staggering 864,579,590 coins were produced that year.

Here are the key details about the 1942 Lincoln Wheat Penny's composition and manufacturing:

  • 95% copper and 5% zinc and tin metal composition
  • Approximately 3.11 grams in weight
  • Minted at Philadelphia, Denver, and San Francisco locations
  • 864,579,590 coins produced in 1942

Variations and Errors

There are three main varieties of the 1942 Lincoln Penny: the 1942-P Lincoln Penny, the 1942-D Lincoln Penny, and the 1942-S Lincoln Penny.

These varieties differ primarily in where they are struck, with the 1942-P Lincoln Penny coming from Philadelphia, the 1942-D Lincoln Penny from Denver, and the 1942-S Lincoln Penny from San Francisco.

Here's a quick rundown of the mintage numbers for each variety:

VarietyLocationMintage
1942-P Lincoln PennyPhiladelphia657,796,000
1942-D Lincoln PennyDenver206,698,000
1942-S Lincoln PennySan Francisco85,590,000

Grading

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Grading is a crucial aspect of collecting Lincoln pennies, and it's essential to understand the different grades to determine the value and condition of a coin.

A coin that's graded as Uncirculated has never been exchanged hands, preserving its condition and making it the most sought after by collectors.

These coins will have flawless raised lettering and imagery, making them the cream of the crop.

Extremely Fine coins, on the other hand, will look mostly pristine but may feature one or two minor flaws that are not easily recognizable by the naked eye.

Fine coins have been circulated but have managed to avoid heavy damage, with light scratching and smoothing visible to the eye.

Good coins are the most heavily damaged, with deep scratches and worn away imagery/lettering.

In the world of collecting, these grades can make all the difference in determining the value and rarity of a coin.

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Varieties

Varieties of the Lincoln Wheat Penny can be identified by their mint marks, which indicate where they were produced. The 1942 Lincoln Wheat Penny has three main varieties: the 1942-P, 1942-D, and 1942-S.

Credit: youtube.com, Making Money Searching for Varieties in Pocket Change - Mint Mark Variations - BRSH

These varieties differ in their production locations, with the 1942-P being produced in Philadelphia, the 1942-D in Denver, and the 1942-S in San Francisco. The 1942-P had a mintage of 657,796,000, while the 1942-S had a mintage of 85,590,000.

The Philadelphia mint did not produce any mint marks on the 1942-P pennies, making them slightly easier to identify. The Denver mint produced 206,698,000 of the 1942-D pennies, while the San Francisco mint produced 85,590,000 of the 1942-S pennies.

Here's a summary of the 1942 Lincoln Wheat Penny varieties:

VarietyLocationMintage
1942-P Lincoln PennyPhiladelphia657,796,000
1942-D Lincoln PennyDenver206,698,000
1942-S Lincoln PennySan Francisco85,590,000

The 1942-S Lincoln Penny stands out as having higher value in above-average condition, making it a desirable find for collectors.

3 S - Ms68rd

The 1942 D Lincoln Penny is a rare find, especially in MS68RD grade, with only four pieces listed by PCGS.

In 2006, a 1942 D Penny was auctioned for $11,500, and just two years later, its price rose to $12,650, setting a record sale for a piece of this year and mint.

Liberty title with depicted profile of man on coin
Credit: pexels.com, Liberty title with depicted profile of man on coin

The 1942 Penny S is another story, with 87 specimens in MS67+RD grade recorded by PCGS.

A 1942-S Lincoln Penny MS68RD was auctioned in 2020 for $7,200, a price that remained consistent with the previous year.

The highest price obtained for a 1942-S Lincoln Penny was $12,650, achieved in 2006, but this record price was short-lived, as the same piece dropped to $9,775 in 2008 and then to $7,800 in 2019.

Value and Pricing

The value of a 1942 US penny can vary greatly depending on its condition and type.

A 1942 Lincoln Penny in average condition is estimated to be worth $0.20, according to USA Coin Book.

The condition of the coin is crucial in determining its value, as a damaged coin will be worth less. The type of coin is also important, with up to three different varieties minted each year.

Here is a table showing the value of a 1942 Lincoln Penny in different conditions:

ConditionValue
Good$0.15
Fine$0.20
Extremely Fine$0.50
Uncirculated$0.75

A 1942 Lincoln Penny (D) in uncirculated condition can be worth up to $0.85, while a 1942 Lincoln Penny (S) in uncirculated condition can be worth up to $5.50.

Pricing

Detailed image of stacked American coins including pennies and nickels, representing savings and finance.
Credit: pexels.com, Detailed image of stacked American coins including pennies and nickels, representing savings and finance.

Pricing the 1942 Lincoln Penny is a bit of an art, but it's definitely doable if you know what to look for. The condition of the coin is crucial, with damaged coins being worth less than their undamaged counterparts.

A coin's type also plays a major role in determining its value, with up to three different types of Lincoln pennies minted every year. The chart below helps to break down the value of a 1942 Lincoln Penny based on its condition and type.

DATEGOODFINEEXTREMELY FINEUNCIRCULATED
1942 Lincoln Penny$0.15$0.20$0.50$0.75
1942 Lincoln Penny (D)$0.15$0.20$0.50$0.85
1942 Lincoln Penny (S)$0.20$0.30$1.25$5.50
Source: Red Book

The value of a 1942 Lincoln Penny can range from $0.15 for a Good condition coin to $5.50 for an Uncirculated coin with a San Francisco mint mark.

#8 Pr67rd Cam $17,625

The 1942 Lincoln Cent Proof Red Cameo is a highly sought-after coin, with a highest recorded price of $17,625 achieved in 2014 for a specimen encapsulated by NGC.

This price is a significant jump from other coins with the same characteristics, which were auctioned for between $2,820 and $4,700 in 2016 and 2017.

Round Silver-colored Liberty Coin
Credit: pexels.com, Round Silver-colored Liberty Coin

A specimen encapsulated by PCGS was auctioned in 2017 for $14,688, showing that the price can vary depending on the grading service and other factors.

In contrast, coins with a lower MS66RD grade were auctioned for $1,020 and $2,280 in 2019, highlighting the importance of high grades in determining a coin's value.

Buying and Selling

Buying and selling a 1942 Lincoln Wheat Penny can be a convenient process, and most vendors offer their coins online on sites like eBay, Etsy, and Amazon.

You can also try shopping in person at pawnshops or antique stores, or visit coin shops and auction houses for a more traditional experience.

If you're looking for expert advice, consider reaching out to PCGS or NGC, as they can guide you on where and how to buy or sell your 1942 Lincoln Wheat Penny.

Keep in mind that high-quality coins in good condition may be expensive, so be prepared to pay a premium if you're looking for a rare or unique coin.

Rare and Valuable Coins

Credit: youtube.com, 1942-S Penny Worth Money - How Much Is It Worth and Why?

The 1942 US penny is a highly collectible coin, and its value can vary greatly depending on its condition and rarity. The Lincoln cent is the most produced Wheat penny in US history, with its minting beginning in 1909 and continuing to the present day.

If you're looking to sell your 1942 penny, organizing it in a way that's easily assessable by a dealer is crucial. Separating the coin into "market categories" can help you reap the best value.

A total of 32,600 Proof 1942 Wheat Reverse Penny Proofs were minted in Philadelphia, making them highly valuable. The most valuable of these proofs are those in higher grades.

To give you a better idea of the value of your 1942 penny, here are some key dates to look out for:

YearValue
1942$0.10 to $100
1942 (Proof)$100 to $10,000

Keep in mind that these values are estimates and can vary depending on the condition and rarity of the coin. The 1942 Lincoln Wheat penny is one of the most collected series of pennies worth money, making it a valuable addition to any coin collection.

Removing and Identifying

Credit: youtube.com, Value of 1942 Wheat Penny

To identify a 1942 US penny, look for a "D" mintmark under the date, which indicates it was struck at the Denver Mint.

A sharp transition from field to rim is a desirable feature in a 1942 penny, adding to its value.

Any old wheat cent with sharply defined devices needs a closer look, as it could be a valuable coin.

Bold lettering along the rims on both sides is a good indication of a coin with strong value, and the letters "LI" in Liberty often curve upward.

Identifying a Penny

To identify a penny, take a close look at its design. The Lincoln Penny was designed by Victor David Brenner.

The coin has a coin diameter of 19 mm and a weight of 3.11 g. Its obverse features the bust of President Abraham Lincoln on the right with the word "Liberty" behind it and the legend "In God We Trust" above.

In front of the bust is the date and mint mark, which can be either "D" or "S" since the Philadelphia mint has no mint mark. The date and mint mark are a crucial part of identifying a penny.

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The value "ONE CENT" and "United States Of America" are flanked by two ears of wheat as a symbol of prosperity. This is why these pennies are also known as Wheat Reverse Penny.

The composition of these coins is 95% copper and 5% tin and zinc, giving them the nickname 1942 penny copper.

Remove

Removing old wheat cents with minimal to no wear is a great way to find coins with strong value.

A sharp transition from field to rim adds desirability to a coin.

Bold lettering along rims on both sides is a good indication of a coin with strong value.

The Denver Mint struck the 1942-D Lincoln Penny, which is a relatively abundant coin.

Ample production of the 1942-D Lincoln Penny leaves many surviving today.

Danielle Hamill

Danielle Hamill

Senior Writer

Danielle Hamill is a seasoned writer with a keen eye for detail and a passion for storytelling. With a background in finance, she brings a unique perspective to her writing, tackling complex topics with clarity and precision. Her work has been featured in various publications, covering a range of topics including cryptocurrency regulatory alerts.

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