1948 Penny (Lincoln Cent): Mintage & What to Check

In 1948 the U.S. Mint struck about 571.9 million Lincoln cents for circulation: Philadelphia 317.6 million, Denver 172.6 million, San Francisco 81.7 million. That is 18% more than 1947. Among the 117 years from 1909 to 2025, 1948 ranks number 84 by total mintage (1 = most coins made), so it is one of the lower-mintage dates of the series. The scarcest 1948 issue by mintage is San Francisco (81,735,000); the most common is Philadelphia (317,570,000). Within the 1940s, 1948 ranks 8 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 rose 67% from 1947; Denver fell 11% from 1947; San Francisco fell 17% from 1947.

The mint mark, if any, sits under the date on the front of the coin. A 1948 cent with no mint mark was struck at Philadelphia and is the normal, common form for that mint. The letters you can find on 1948 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.
• 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.
• For any 1948 cent, check three things before anything else: that the date and mint mark are fully readable, that the surfaces have not been cleaned (unnatural brightness, fine parallel scratches), and whether any doubling on the lettering is true die doubling (rounded, separated) rather than flat machine doubling.

What a 1948 cent is worth depends on three things in this order: the variety (a recognised doubled die or transitional error is worth far more than a normal coin), the mint (San Francisco is the lowest-mintage 1948 issue), and the grade (an uncirculated coin with original red colour is a different market from a worn brown one). A normal, circulated 1948 cent from the most common mint is an available coin; published price guides from grading services list values by grade and variety, and they change over time. This page does not give prices. To get a reference range for the exact coin in your hand, photograph both sides in even light and let the app read the date, mint mark and visible varieties first.