1939 Wheat Penny Value: Price Chart by Grade & Mint

In 1939 the U.S. Mint struck about 383.7 million Lincoln cents for circulation: Philadelphia 316.5 million, Denver 15.2 million, San Francisco 52.1 million. That is 100% more than 1938. Among the 117 years from 1909 to 2025, 1939 ranks number 90 by total mintage (1 = most coins made), so it is one of the lower-mintage dates of the series. The scarcest 1939 issue by mintage is Denver (15,160,000); the most common is Philadelphia (316,466,000). Within the 1930s, 1939 ranks 2 of 10 years for mintage; the decade's high was 1937 (394.1 million) and its low was 1932 (19.6 million). Mint by mint: Philadelphia rose 102% from 1938; Denver fell 24% from 1938; San Francisco rose 243% from 1938. Proof cents for collectors: 13,520 from Philadelphia.

The mint mark, if any, sits under the date on the front of the coin. A 1939 cent with no mint mark was struck at Philadelphia and is the normal, common form for that mint. The letters you can find on 1939 circulation cents are D (Denver) and S (San Francisco). Proof cents for 1939 were struck at Philadelphia with no mint mark; they have mirror-like fields and came from collector sets, not from circulation.

• From 1918 onward the initials V.D.B. sit in tiny letters on the truncation of Lincoln's shoulder on the obverse. They are normal and do not add value; they are simply a way to confirm the coin's era.
• Wheat cents were struck in bronze (3.11 g) except for 1943. Genuine coins show a plain edge and a slightly lighter, more reddish colour than modern zinc cents when uncirculated; a brown, evenly worn coin is the normal state for this era and is not damage.
• Rule out cleaning (unnatural brightness, fine parallel scratches) and flat machine doubling before you call anything a variety; see how to read dates and mint marks.

PCGS Price Guide values for 1939 cents (updated September 24, 2026, U.S. dollars, for coins certified by PCGS):

• 1939: $10 in MS63 RD and $24 in MS65 RD.
• 1939-D: $12 in MS63 RD and $26 in MS65 RD.
• 1939-S: $12 in MS63 RD and $24 in MS65 RD.

Denver is the lowest-mintage 1939 issue (15,160,000 struck), so it is the mint collectors check first. Guide prices assume a certified coin; an uncertified, worn 1939 cent usually sells for less than the lowest figure above, often a few cents in bulk wheat-cent lots. RD means full original red copper, RB red-brown, BN brown; the color grade can multiply the price. How grade and variety turn into a number is explained in what makes a coin valuable.