How Much Is A 1948 Penny Worth?

Last Updated on August 4, 2022

The 1948 penny is also known as the 1948 wheat penny. It is made from copper, tin, and zinc, and comes in various mintmarks. You will find one with no mintmark, S mintmark, and D mintmark. 

If you want to get your hands on these coins and understand their worth, you are in the right place. Here is everything you must know about it. 

1948 P D S Lincoln Wheat Penny Cent PDS set Penny Seller Very Fine


How Much Is A 1948 Penny Worth?

The 1948 penny will be worth $0.10 in fine condition with no mintmark. If you find this penny in extremely fine condition, then it will be worth at least $0.20. Of course, the value of the penny will always be higher if the coin is in uncirculated condition. 

For example, the 1948 penny in uncirculated condition and MS63 grade will be worth at least $0.85. Besides that, the 1948 penny in uncirculated condition and MS65 grade will be worth at least $2. 

These pennies had high mintage so you will find most of them in circulated conditions with not a significant value. The value of the uncirculated coins will always depend on the condition and grade they are in. 

How Much Is A 1948S Penny Worth?

1948 S Lincoln Wheat Penny Good

The S mintmark means that the penny was produced in the San Francisco facility. In very fine condition, the penny will be worth at least $0.20. If the condition is extremely fine, then the value will be around $0.30. 

The coin with this mintmark will have a higher value in an uncirculated condition. If the 1948S penny is in uncirculated conditions with MS63 grade, then it will be worth at least $1. If the penny has a grade of MS65 in uncirculated conditions, then it will be worth at least $3. 

How Much Is A 1948D Penny Worth?

The D mintmark indicates that the penny was minted in the Denver facility. If you find this penny in very fine condition, it will be worth at least $0.10. If the condition is extremely fine, then you can expect to pay at least $0.20 for it. 

Of course, the value will be high if the penny is in uncirculated conditions. For example, the uncirculated 1948D penny in MS63 grade will be worth at least $0.60. Finally, the 1948D penny in uncirculated conditions with a grade of MS65 will be worth at least $2. 

How Many 1948 Pennies Were Minted?

1948 S Lincoln Wheat Penny Good

The mintage level also indicates how much a coin will be worth, as coins in low mintage will have a high value. The production also depends on the mint facility. The Philadelphia mint produced more than 317,500,000 of these coins. 

On the other hand, the Denver facility minted more than 172,600,000 of these coins. The San Francisco mint produced the lowest number of these pennies as they minted more than 81,000,000 of these coins. That is why you will find that the 1948S pennies might have a slightly higher value than others. 

Are There Any 1948 Proof Pennies?

Proof coins are made for collectors so that they can add coins to their collections. Such pennies also have a higher value than the rest. However, the US Mint did not mint any proof pennies in 1948. 

During these years, soldiers were returning from the war and the US Mint was busy producing medals for the soldiers. So, they diverted their resources into making medals instead of proof coins. Once things got back to normal, the US Mint began striking proof pennies again. 

Where Can I Sell My 1948 Wheat Penny?

If you have various varieties of the 1948 wheat penny, you might want to sell them to get some money. There are various ways you can sell coins, and one of them is the local coin seller. You can check if your region has any local coin sellers that will buy the coins you have. 

Besides that, if you have a rare coin or collection, you can always sell it at an auction as coins can go for thousands of dollars here. Of course, it is highly unlikely that you have a rare 1948 penny. That is why your best bet is an online website, such as eBay as people can bid on such coins and buy. 

You can also check the local pawn shop and ask them if they will be interested in buying these pennies. Remember that these pennies are common, which is why selling it will not get you much money. Instead, it is best to keep the coin in your collection. 

Jackie Palmer is a Houston-based coin journalist and fashion enthusiast. She joined Jewels Advisor’s content team after years of experience as a content strategist, managing blogs and social channels for local stores. Jackie mostly collects and studies US coins produced during the 20th century and over the years, published hundreds of articles for multiple coin publications.