1945 Wheat Penny Value: Price Chart by Grade & Mint

In 1945 the U.S. Mint struck about 1.49 billion Lincoln cents for circulation: Philadelphia 1.04 billion, Denver 266.3 million, San Francisco 181.8 million. That is 31% fewer than 1944. Among the 117 years from 1909 to 2025, 1945 ranks number 70 by total mintage (1 = most coins made), so it is a mid-range date for availability. The scarcest 1945 issue by mintage is San Francisco (181,770,000); the most common is Philadelphia (1,040,515,000). Within the 1940s, 1945 ranks 3 of 10 years for mintage; the decade's high was 1944 (2.15 billion) and its low was 1949 (435.2 million). Mint by mint: Philadelphia fell 27% from 1944; Denver fell 38% from 1944; San Francisco fell 36% from 1944.

The mint mark, if any, sits under the date on the front of the coin. A 1945 cent with no mint mark was struck at Philadelphia and is the normal, common form for that mint. The letters you can find on 1945 circulation cents are D (Denver) and S (San Francisco).

• 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.
• 1944 through 1946 cents were struck from recycled ammunition shell cases, a brass alloy without tin. They look like ordinary bronze cents. A 1944 cent that sticks to a magnet is a rare leftover steel planchet error and should be authenticated.
• 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 1945 cents (updated September 24, 2026, U.S. dollars, for coins certified by PCGS):

• 1945: $4 in MS63 RD and $18 in MS65 RD.
• 1945-D: $10 in MS63 RD and $18 in MS65 RD.
• 1945-S: $7 in MS63 RD and $16 in MS65 RD.

San Francisco is the lowest-mintage 1945 issue (181,770,000 struck), so it is the mint collectors check first. Guide prices assume a certified coin; an uncertified, worn 1945 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.