By Charles Morgan and Hubert Walker for CoinWeek Notes …..
- The 1944 Lincoln Cent was the first U.S. cent with a mintage of over one billion coins.
- Legend states that they were struck on planchets made from spent brass cartridges during World War II.
- A handful of transitional off-metal errors exist, struck on zinc-plated steel planchets left over from 1943.
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The 1944 Lincoln Cent followed the experimental and largely derided 1943 Lincoln Steel Cent. The 1943 cent was a historic first for the United States Mint: the first one-cent coin not struck in copper. The zinc-plated steel cents entered production in February 1943 and wrapped up on December 31.
For the 1944 issue, the Acting Secretary of the Treasury filed notice of the Treasury Department’s intent to revert to bronze cents on a December 15, 1943, filing. Three days later, President Franklin D. Roosevelt signed the necessary authorizations into law.
The 1944 Lincoln Cent was struck in astronomically high numbers, and at the time it was struck, it was the first U.S. cent with a mintage of one billion coins or more. By the 1980s, the Mint routinely pumped out the same amount in two or three months.
Production of a 95% copper, 5% zinc coin commenced on January 1, 1944. The official story was that the cents were struck using spent brass cartridges from World War II. Numismatic researcher David W. Lange dismissed this idea in his Complete Guide to Lincoln Cents (2nd Ed., 2005), saying that the 1944 Lincoln Cent’s enormous 1,435,400,000 mintage was much too high for all of the coins to be struck from reclaimed war material. Lange acknowledges, however, that shell casing material was utilized to strike some 1944 cents.
How Much Is the 1944 Lincoln Cent in Copper Worth?
The 1944 Lincoln Cent struck in copper is not a rare coin. It saw heavy circulation after its release and only disappeared from circulation due to attrition and the fact that the general public withdrew Wheat Cents from circulation as they became less prevalent a decade or two into production of the Lincoln Memorial Cent. In circulated condition, the 1944 Lincoln Cent remains abundant in “unsearched roll” offerings and other bulk assortments of Wheat Cents.
A run-of-the-mill circulated example might sell on eBay for between 50¢ and $1. In Mint State Red, however, the value of the 1944 Lincoln Cent increases to about $12.50 in MS65RD and about $150 in MS67RD. Many uncertified uncirculated rolls in original Red likely survive, and current data does not reflect the true size of the surviving population. In the top grades, we expect some growth, but the majority of the uncertified Red coins (we estimate) would grade MS65RD or below – which puts these coins below the terminal point for coin certification.
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Market Data and Noteworthy Specimens
The PCGS population of MS67+RD coins stood at just five pieces with none finer when the first example Heritage Auctions offered appeared in September 2014. Since then, the population has increased to 109 (as of October 2024). We’ve also seen a corresponding decline in hammer prices from $2,232 to about $300 today. With the explosion of MS67+RDs also came a small increase in the number of MS68RD coins.
As mentioned earlier, we do not think a full assessment of the remaining Mint State Red 1944 cents has yet occurred. As collectors sort and submit these coins, we will see continued market declines for these Superb Gem examples.
Also worth noting is that, of the major auction firms, GreatCollections most frequently offers this date in high grade.
Top Population: PCGS MS68RD (4, 10/2025), NGC MS68RD (4, 10/2025), and CAC MS68RD (1:0 stickered:graded, 10/2025).
- PCGS MS68RD CAC #48300232: As PCGS MS68RD #25674724. “The Jerald L. Martin Collection,” Heritage Auctions, January 10, 2019, Lot 4105 – $11,400. Jerald L. Martin Collection on label. As PCGS MS68RD CAC #48300232. “The Whispering Pines Collection,” Heritage, January 16, 2025, Lot 4635 – $10,800. Earned CAC approval after reholdering. Whispering Pines on label. Secure Shield holder.
- NGC MS68RD #2076759-003: Stack’s Bowers, March 1, 2019, Lot 7056 – $1,560; GreatCollections, October 22, 2023, Lot 1443664 – View.
- PCGS MS68RD #43877354: GreatCollections, May 1, 2022, Lot 955521 – View.
- PCGS MS67+RD CAC #49554351: GreatCollections, November 3, 2024, Lot 1685623 – View. Secure Shield holder.
- PCGS MS67+RD CAC #50486943: GreatCollections, October 20, 2024, Lot 1670417 – View. Secure Shield holder.
- PCGS MS67+RD #43661839: GreatCollections, September 29, 2024, Lot 1665979 – View.
- PCGS MS67+RD CAC #35046118: GreatCollections, September 29, 2024, Lot 1644820 – View.
- PCGS MS67+RD #47803777: GreatCollections, August 4, 2024, Lot 1622725 – View. Secure Shield holder.
- PCGS MS67+RD CAC #46252620: GreatCollections, April 14, 2024, Lot 1562582 – View. Secure Shield holder; GreatCollections, June 16, 2024, Lot 1594795 – View. Secure Shield holder.
- PCGS MS67+RD CAC #25629110: GreatCollections, April 7, 2024, Lot 1415266 – View.
- PCGS MS67+RD CAC #37758301: Stack’s Bowers, August 10, 2020, Lot 4560 – $336.
- PCGS MS67+RD #25207737: Heritage Auctions, June 4, 2015, Lot 3213 – $1,057.50.
- PCGS MS67+RD #25276583: Heritage Auctions, September 5, 2014, Lot 3719 – $2,232.50.
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Coin Specifications
| Country: | United States of America |
| Year of Issue: | 1944 |
| Denomination: | One Cent (USD) |
| Mintmark: | None (Philadelphia) |
| Mintage: | 1,435,400,000 |
| Alloy: | .950 copper, .050 zinc |
| Weight: | 3.11 g |
| Diameter: | 19.00 mm |
| Edge: | Plain |
| OBV Designer: | Victor David Brenner |
| REV Designer: | Victor David Brenner |
| Quality: | Business Strike |
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1944 Lincoln Cent Struck on Steel
Possibly 25 to 30 examples exist. The 1944 Steel Cent was discovered by collector Richard Fenton in 1945.
According to David Lange, one example of the 1943 Copper and 1944 Steel Cent was given as a gift to Chief Engraver John R. Sinnock, who later gave them to a “female acquaintance.”
In late 1987, collector Rick Ortega of Jacksonville, Florida, discovered one in an unsearched bag of 1943 steel cents that he purchased from dealer Don Kittsmiller, operator of Duval Coins. Kittsmiller thought the coin was a likely counterfeit, but recommended that Ortega submit the coin to ANACS for authentication.
Collector John Whitney Walter owned at least three examples. The PCGS MS64 population has doubled since 2013.
Top Population: PCGS MS64 (4, 4/2025), NGC AU58 (1, 4/2025), and CAC MS64 (1:0 stickered:graded, 4/2025).
*Note: The CAC census report claims one coin stickered at MS65. No MS65 coin is reported in either NGC or PCGS data.
- PCGS MS64 #48300231: As PCGS MS64 #05571105. Heritage Auctions, June 17, 2021, Lot 3043 – $180,000. As PCGS MS64 #48300231. “The Whispering Pines Collection,” Heritage, January 16, 2025, Lot 4636 – $168,000. Whispering Pines on label. Secure Shield holder.
- PCGS MS64 #25513957: Heritage Auctions, May 9, 2024, Lot 4406 – $108,000. Secure Shield holder.
- PCGS MS64 #18523968: Heritage Auctions, January 2016, Lot 5270; “The Bob R. Simpson Collection, Part VI,” Heritage Auctions, August 18, 2021, Lot 3001 – $108,000. Simpson on insert.
- PCGS MS64 CAC #26441690: Stack’s Bowers, August 14, 2013, Lot 4411 – $158,625.
- PCGS MS63 #689344-010: “The John Whitney Walter Collection,” Stack’s Bowers, August 15, 2018, Lot 1404 – $48,000.
- PCGS MS62 #34859787: Stack’s Bowers, March 22, 2018, Lot 2190 – $45.600.
- PCGS MS61 #31671190: “The Bob R. Simpson Collection,” Heritage Auctions, January 7, 2016, Lot 5268 – $30,550. Simpson novelty insert. Notable deep hit behind Lincoln’s head. Dark spot below B of LIBERTY.
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Coin Specifications
| Country: | United States of America |
| Year of Issue: | 1944 |
| Denomination: | One Cent (USD) |
| Mintmark: | None (Philadelphia) |
| Mintage: | Up to 30 known, few in Mint State. |
| Alloy: | Zinc-coated steel |
| Weight: | 2.70 g |
| Diameter: | 19.00 mm |
| Edge: | Plain |
| OBV Designer: | Victor David Brenner |
| REV Designer: | Victor David Brenner |
| Quality: | Business Strike |
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I have 2 1944 steel pennies did not know what they are worth
Can I have them?
1 1943 Steel some 1954 +1955 +1956 Copper Penny
Mary,
You may want to have them checked. There’s many counterfeits out there.
I one 1943d and 1943s there are two steel coins by I’m sending to upgrade them yet I afraid they may not comes back that why I still have them c
I believe those are not the rare ones unfortunately. It’s the 1943 copper pennies that are sought after by collectors..
I have 2 1943 steel Cents not in best condition but I think they are in good condition
@A.R.J. As the article notes, most circulated 1943 steel cents are worth no more than a dollar and probably less. Any dealer has all they need. You might offer them to a young collector to help their interest in numismatics.
Also be aware that in collectors’ terms, “good” is a specific grade describing a coin in one of the lowest collectible conditions.
Mary, Google that please !!! WOW ! If they get graded and are steel, you are going to have a lot of money.
Hey I have a penny that is 1943 don’t know if it’s a steel penny or a tin one how do I find out about it please if a coin collector can help me I would Appreciate it a lot.
Use a magnet if it sticks, its steel.
Taste it lol
It says the steel ones should weigh 2.7 grams
Check it with a magnet
I haven’t a1944penny a1939penny as well
Hi have 14 still penny the color its gray steal penny 1944 1943
I have a 1911 Lincoln penny on the other side it’s says one cent , I don’t know it’s worth
I have two Wheat pennies brown in color 1944 and a 1906 Indian head cent plus a 1919 cent are they worth anything
I got 3:1944 Lincoln Penny one is not minted, I also got 1943 Lincoln steel penny and a bunch of even older ones
I found the comments rather interesting.No Daniel you can.t have the coin.! My self I have an Indian Head coin dated back to 1876/75.Have no idea what it’s worth,but I am certain that it is worth a bunch!
I’ve A 944 copper penny abunch of other old pemnys in very good condition dating 1918 1919 1920s I’ve got about 200 of them where can I sell mine at
To me what years do u have
I have a 1944 steel penny
@Ora Does it stick to a magnet? If not, your coin isn’t made of steel or is a fake. If it does stick, you should have it checked by an expert.
I have 6 1944 no mint mark were do I take them. I’m in okl. City
As the article notes, over a billion 1944 (P) cents were struck and they aren’t rare. In circulated condition they may be worth anywhere from a few cents to a qusrter. Because of that large production few if any dealers would want any more of them. You might offer the coins to a new collector to help them get started.
Also as the article notes, the lack of a mint mark indicates the coins were struck by the Phialdelphia mint which even today doesn’t put a “P” mint mark on cents. Common numismatic practice today is to indicate such coins with a P in parens, hence my use of (P).
Hello I have 1944 D an mor
Hey I have a 1976 double die error penny, and am curious if it’s worth anything.
I also have a 1984 quarter, which I’ve heard something about the 1984 quarter being worth some money and would like to learn more about it.
HI MY NAME IS RUTH ANDERSON IHAVE 2 1944 S Linc penny’s and 1 1944 no mint also other old dates condition fair are they worth anything?
I have alot of old coin i have the 1944 penny and i Have 1909 were can i sell then i am from Puerto Rico.
I have 1944 no mint mark weighs 3.4 anyone know worth
@Sara 3.4 gm is outside the normal weight tolerance for bronze cents (3.11 +/- 0.13 gm) but not spectacularly so. It’s very unlikely but you could have an off-metal error or wrong-planchet error. My suggestion would be to find a certified dealer or serious collector who could double-check the weight before moving on to additional tests.
I have a few of them with a miss print and one that is yellow
I have a 1956 penny that Liberty is spelled incorrectly it’s liberty does anyone think that’s worth money ?
@Mya Cents from the mid-1950s are (in)famous for having minor errors caused by filled or cracked dies. One of the best-known is a crack that makes the word appear to be “LIBIERTY”.
That said, while there are collectors who specialize in errors like this very few of the coins sell for more than a buck or two, if that.
I have 2 1943 steel penny’s that stick to a magnet one in pretty good condition the other was in a pile and we run a magnet over all of them and I came flying out in not such good condition but not sure how to get them authenticated or costs..
@Jeffifer If you re-read the article, over a billion 1943 steel pennies (rather than “penny’s”) were struck so they’re not rare. On average a circulated one will retail for 25 cents to a dollar; wholesale (buying) prices are a lot lower.
You might consider offering some of them to a new collector to help them build their collection, and/or saving a few as conversation pieces recalling a time when even the lowly penny sacrificed its copper for the war effort.
I have one
Would like to know the value of a 1953 wheat penny
Hello I have a 1944 penny hope it’s worth something
@Marian Value estimates are given in the story.
I have about 10 1944 wheat pennies that stick to magnetic I’m interested in selling my collection yesterday I was given one back a change but it doesn’t stick to the magnetic
I have a collection of these coins and one of them is silver looking they were my grandmother’s collection and she passed them to me I have no idea if any of them are worth anything I really would like a trust worthy person to look at them and make me a offer for them . you can e-mail me at [email protected]
Thank you ,
Valerie Culpepper
I have 3 1944 wheat pennies.l have Indian head Penney 1868.a 1927 quarter.1940 dime and don’t know if worth anything.
I have a 1943 steel penny never circulated also have a 1944 bullet casing penny, are those anything worth having looked at, and a 1898 indian head penny i got in a handful of change back from the store a few months ago.
Tengo uno 1943 de acero sin marca mas tres de 1944S,1944D y 1944
It’s interesting that a few 1944 cents were minted on steel. 25 to 30 vs a billion on copper? Talk about a needle in a haystack!
I have 1944 and 1943 pennies.
I regret every single thing I’ve ever given to a “female acquaintance.”
This was one of the most interesting articles I’ve read so far. I have a large number of pennies – most of which are still in the ‘piggy banks’ from when I was a child. Just wondering if I should start going through them.
Used to love finding the wheat pennies. Still have a few of the steel pennies too.