How Much Is 1940 Penny Worth?

Last Updated on August 4, 2022

The 1940 penny is also known as the 1940 wheat penny. It is one of the favorite coins for collectors to have in their collection. Not only the US history but the portrait of President Abraham Lincoln is enough to make the coin special. 

There is a lot more that there is to know about the 1940 penny. Keep reading as we have discussed it in detail. 

1940 D Lincoln Wheat Penny FAIR

How Much Is 1940 Penny Worth?

The 1940 penny with no mintmark is the most popular one. If you find this coin in very good condition, it will only be worth $0.1. In extremely fine condition, the coin will be worth $0.6. 

On the other hand, if you find this penny in MS60 grade, it will be worth $2. In MS65 grade, the coin will be worth $4.

The 1940 penny with S mintmark in good condition, the penny will be worth $0.13. If the condition is very good, it will be worth $0.20 and if the condition is extremely fine, it will be worth $1.13. 

Of course, the uncirculated condition will give you the highest value. However, you shouldn’t expect to make a fortune on this penny. If you find this penny in uncirculated conditions, it will be worth around $3 to $7 in MS60 and MS63 grades.  

The 1940 penny with a D mintmark in very fine condition, the coin will be worth $0.57. If the condition is extremely fine, the coin will be worth $0.85. 

However, the coin will be worth its highest in uncirculated conditions and a high grade. For example, the penny is worth more than $6 in MS65 condition.

Where You Can Get 1940 Penny For Sale?

1940 D Lincoln Wheat Penny FAIR

The old collectible coin is a huge market now that you can find 1940 penny at several places. There are some of the best, trusted online sites such as eBay and many others where you can look for 1940 penny. 

If you visit any site make sure it is trusted and only deals in original and highest condition old coins. We don’t want you to have an average condition 1940 penny in your collection. 

On the other hand, if you want to buy from physical marketplaces there are pawn shops, collectors, auctions, and many others. That would give you the option to have a look at the coin and make sure if it is original or not. 

It would be best if you know everything about the 1940 penny before dealing with it. 

Is It Worth Collecting 1940 Penny?

1940 Various Mint Marks Lincoln Wheat Cent Penny Penny Seller Very Fine

It sure is. The 1940 penny holds a special place in US history and coinage. Every collector wants to have the best condition coins in their collection. 

If you are getting such a coin it would be best to invest in it. With time the value will appreciate as the coin will start getting rare. All you need to do is keep it in a safe place and clean it regularly. Maintaining the coin will preserve the original condition of your coin. 

Don’t sell the coin right after you buy it. Keep it as long as you can and when you see it is time then you can benefit from the profit. However, make sure you sell the 1940 penny to a collector so the legacy can continue. 

Collecting old coins and preserving them is an art and shouldn’t be treated as a business. Therefore, always sell it to a collector as they know the true worth of the coin. 

How Rare is 1940 Penny?

The 1940 penny is not enough rare as there were millions of coins minted in 1940. Those pennies were in circulation for quite a long time and almost everyone had them until new coins were introduced to replace them. 

Finding a 1940 penny in any condition is easy. However, getting your hands on the highest condition coin may be a bit difficult. Therefore, the value will be higher compared to the other condition. 

How Many 1940 Pennies Were Ever Minted?

Millions of 1940 pennies were minted by the Federal Reserve. The pennies were minted in three different mints and every mint had different quantities to produce for circulation. 

There were a total of 781,140,000 coins ever minted for 1940 pennies. All these were circulated in the economy as the country was going through war times.

If you want to know how many coins each mint produced. Keep reading as we have mentioned below. 

  • Philadelphia: 586,810,000
  • Denver: 81,390,000
  • San Francisco: 112,940,000