Most collectors know the big names in rare coins—like the 1909-S VDB or the 1955 Doubled Die—but sometimes, the most surprising treasures are the ones hiding in plain sight. One such coin is the 1946-S Lincoln Wheat Penny, a seemingly ordinary post-war cent that’s quietly gaining attention in the numismatic world. With increasing collector interest, low high-grade populations, and emerging errors being discovered, this penny might just be the sleeper coin of the century—and it could be sitting unnoticed in someone’s pocket change.
The 1946-S Lincoln Wheat Penny
The 1946-S Lincoln Wheat Penny is a post–World War II coin minted at the San Francisco Mint, as indicated by the “S” mint mark below the date. It features the iconic portrait of President Abraham Lincoln on the obverse, designed by Victor D. Brenner, and the classic wheat ears reverse, which was used on U.S. pennies from 1909 to 1958. Though over 198 million of these pennies were struck in 1946, few have survived in high-grade, uncirculated condition—especially with full red luster. This has made it an attractive target for collectors in recent years. Known as a “sleeper” coin, the 1946-S appears common at first glance, but rare varieties and high-grade examples are increasingly sought after in the numismatic market.
Why This Coin Matters:
Minted in San Francisco just after World War II, the 1946-S penny is part of the beloved Wheat Cent series that ran from 1909 to 1958. While it had a large mintage of over 198 million coins, the condition and variety make all the difference. High-grade examples, especially those with full red luster or certified mint-state quality, are growing in value due to scarcity and increased demand from collectors building registry sets.
Add to that the discovery of certain RPMs (Repunched Mint Marks) and subtle die varieties, and this otherwise overlooked penny becomes a coin worth watching. Many experts believe its current value doesn’t reflect its full potential—and that it may see significant price increases in the years ahead.
The 1946-S Lincoln Wheat Penny is a reminder that you don’t always need a six-figure rarity to have a coin worth treasuring. As interest in wheat cents continues to grow, especially among newer collectors, sleeper coins like this one are finally getting their moment in the spotlight. Whether you’re a seasoned numismatist or just starting out, this is one coin that deserves a second look—especially before the market catches up with its true value.
FAQ’s:
1. How much is a 1946-S penny worth today?
Circulated examples are typically worth 5 to 25 cents, but uncirculated coins (MS65 Red or better) can fetch $5 to $50. Rare varieties or high-end slabs can sell for even more.
2. Are there any rare varieties of the 1946-S penny?
Yes! Look for RPM (Repunched Mint Mark) varieties and die cracks. These coins can command premiums from collectors looking for minting errors.
3. What makes the 1946-S penny a “sleeper” coin?
It’s considered a sleeper because it’s affordable and common at first glance, but rare in high grade. Collectors are only recently starting to notice its value potential.
4. Where can I find a 1946-S penny?
Check old coin jars, wheat penny rolls, or estate collections. You can also buy raw or graded examples from dealers and online auctions.
5. Should I get a 1946-S penny graded?
If your coin appears uncirculated with strong red color and few marks, it may be worth sending to a grading service like PCGS or NGC, especially if you suspect a rare variety.
