It’s not every day that a single penny could cover your mortgage payment — or possibly even several. But one specific Lincoln cent from the past might just do that. Tucked away in old collections, change jars, or handed down through family, the 1940-S Lincoln Wheat Penny is quietly gaining attention among collectors and treasure hunters. While not every 1940-S penny is worth a fortune, certain variations and rare conditions can push its value into the thousands. If you’ve got one lying around, it might be time to take a closer look.
Coin Name: 1940-S Lincoln Wheat Penny
The 1940-S penny was minted in San Francisco, with over 112 million struck. At first glance, it seems like a common Wheat cent — made of 95% copper with a small amount of tin and zinc, and featuring the familiar bust of Abraham Lincoln on the obverse and wheat ears on the reverse. But the key to its potential value lies in rare errors, exceptional condition, and low population of high-grade survivors. While a worn example might fetch just a few cents, a high-grade uncirculated 1940-S penny, especially with errors like a re-punched mintmark (RPM) or doubled die, could command hundreds or even thousands of dollars at auction. One particularly fine specimen graded MS-67 Red by PCGS sold for over $3,000 — more than enough to cover a month (or more) of mortgage for many Americans.
What Makes It Valuable?
- Mint Errors – Look for RPMs (Re-punched Mintmarks) or Doubled Dies, where parts of the design appear doubled or slightly shifted.
- Condition Matters – The value jumps dramatically in higher grades. Coins with full red luster and no signs of wear (MS65 or higher) are rare and highly sought after.
- Low Survivor Population – While many were minted, few high-grade examples survived due to circulation, handling, and improper storage.
Collectors are willing to pay a premium for pristine, original coins, especially those certified by third-party grading companies like PCGS or NGC.
The 1940-S penny might seem ordinary, but for those who know what to look for — it can be a goldmine. Whether tucked into an old coin album or forgotten in a box of change, this small copper coin holds big potential. If you’re lucky enough to own one in great condition or with a mint error, it could be worth far more than face value — maybe even enough to help with your next big bill. So, before you pass that old penny off as spare change, take a closer look. It might just be your hidden mortgage payment.
FAQ’s:
1. How can I tell if my 1940-S penny is valuable?
Check for errors like re-punched mintmarks or doubled dies, and examine its condition. Coins in “red” uncirculated grades are the most valuable.
2. What does “MS-67 Red” mean?
“MS” stands for “Mint State” and is a grading term for uncirculated coins. “67” is a high grade on the 1–70 scale, and “Red” means it has original copper coloring.
3. How much is a 1940-S penny worth?
Circulated examples might be worth 5–50 cents, but high-grade or error coins can sell for $100 to over $3,000.
4. Where can I get my penny appraised or graded?
Trusted grading companies like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) can authenticate and grade your coin.
5. Are other 1940 pennies valuable too?
Yes — the 1940 (Philadelphia) and 1940-D (Denver) pennies also have valuable versions, especially in mint state or with known errors.
