Lincoln Wheat Cent Series
1940 Lincoln Wheat Cent
History, varieties, and collector guide
1940 Overview
The 1940 Lincoln cent is an early‑1940s issue from all three mints, Philadelphia, Denver, and San Francisco, at the start of a major World War II era production ramp‑up. Philadelphia led with about 586,810,000 coins, Denver followed with 81,390,000, and San Francisco struck 112,940,000, making 1940 a very high‑mintage, widely available year in most grades.
In circulated condition 1940 cents are common and inexpensive, but high‑grade red Mint State business strikes, notable doubled‑die and RPM varieties, and a modest proof mintage make this date more interesting than the raw numbers suggest.
Design and specifications
Design continues Victor D. Brenner’s Lincoln obverse and Wheat reverse, unchanged from previous Wheat cents.
Key specifications (all 1940 cents),
- Composition, 95% copper, 5% tin and zinc
- Weight, 3.11 grams
- Diameter, 19.0 millimeters
- Edge, plain
- Designer, Victor David Brenner
- Mintmarks, none (Philadelphia), D (Denver), S (San Francisco)
- Right‑facing bust of Abraham Lincoln
- “IN GOD WE TRUST” above, “LIBERTY” to the left, date “1940” to the right
- Mintmark “D” or “S” under the date on branch‑mint coins
- “ONE CENT” and “UNITED STATES OF AMERICA” in the center
- Single wheat ears along the left and right rim
- “E PLURIBUS UNUM” at the top
Most 1940 business strikes were well made, especially from Philadelphia, with plenty of sharply struck coins surviving in rolls and bags.
Mintage and basic value ranges
- 1940 (Philadelphia, no mintmark), 586,810,000
- 1940‑D (Denver), 81,390,000
- 1940‑S (San Francisco), 112,940,000
- 1940 proof (Philadelphia), relatively small, with price guides treating these as a distinct, much scarcer category
General value impressions for problem‑free coins,
- 1940 (no mintmark)
- 1940‑D
- 1940‑S
- 1940 proofs (Philadelphia)
- Proof 1940 cents are far scarcer than business strikes.
- PR60–PR67 pieces are listed roughly from 75 to 250 dollars and higher, with the best cameo examples bringing significantly more.
These ranges are broad, and actual prices depend strongly on color designation, surfaces, and certification.
Varieties and errors
1940 offers several notable varieties and a handful of attention‑getting errors that attract specialists.
Representative 1940 varieties and errors,
- 1940‑D doubled‑die obverse (DDO),
- 1940‑D RPMs,
- 1940 1c struck on brass planchet,
- Other off‑center and striking errors,
Most minor RPMs add modest value, while dramatic DDOs, strong RPMs, and wrong‑planchet or major off‑center errors can be worth many multiples of a normal 1940 cent, especially in higher grades.
Collecting 1940 cents
Because 1940 is a high‑mintage three‑mint year, it is easy for beginners yet still interesting for specialists who focus on grade and varieties.
Collecting tips,
- Build a P‑D‑S trio in VF–XF first, this gives a handsome late‑Wheat snapshot at very low cost.
- For Mint State, prioritize original color, red‑brown coins often provide better value than full red while still offering strong eye appeal.
- Keep an eye on 1940‑D, high‑grade red Denver coins are common enough to be attainable but scarce enough in MS67–68 RD to justify strong premiums.
- Learn the diagnostics for the 1940‑D doubled‑die obverse and major RPMs, then cherry‑pick dealer boxes and online photos with a loupe and good references.
- Consider adding a proof 1940 cent if budget allows, even a mid‑grade proof offers a striking contrast to business strikes and reflects the low proof output of the era.
A robust 1940 page can easily feature a circulated P‑D‑S row, one or two bright red Mint State coins, a picture or note about the DDO or a D RPM, and a proof slot as the “top shelf” example.
6 fun facts about 1940 cents
- Philadelphia’s 586,810,000‑coin output makes 1940 one of the heavier‑mintage Wheat‑cent years, yet the very finest red MS68 coins can still fetch nearly 15,000 dollars.
- Mintages rose sharply starting in 1940, reflecting growing economic activity as the United States moved closer to wartime production.
- The 1940‑S mintage of 112,940,000 has produced at least one MS68 red example that sold for around 9,600 dollars at auction, highlighting how condition can trump mintage in value.
- A dramatic 1940‑D doubled‑die obverse, with obvious doubling in the motto and date, is valued around 2,400 dollars in Extra Fine or better, far above a normal 1940‑D.
- A known 1940 cent struck on a brass planchet shows how foreign or wrong‑stock blanks occasionally slipped into U.S. presses, bringing error values near 800 dollars.
- Many 1940 Wheat cents still turn up in bulk copper and old jars, making this date a favorite for roll hunters who hope to cherry‑pick bright reds or major varieties out of common piles.
6 common FAQs about the 1940 Lincoln cent
- Are 1940 wheat pennies rare?
No, 1940 cents are common in circulation due to very high mintages, but high‑grade red coins, dramatic varieties, and proofs are much scarcer and can be quite valuable. - Which 1940 issue is most valuable?
In top grades, choice red 1940, 1940‑D, and 1940‑S business strikes and 1940 proofs all compete, with MS68 red pieces from Philadelphia and San Francisco and dramatic 1940‑D DDOs among the most expensive. - How much is a typical 1940 penny worth?
Most circulated 1940 cents bring from about 0.05 to 0.80 dollars depending on mint and grade, while common uncirculated coins start around a few dollars and top‑tier red examples can reach into the thousands. - What key varieties should I look for on 1940 cents?
Collectors watch for the 1940‑D doubled‑die obverse, various 1940‑D repunched mintmarks, and occasional wrong‑planchet strikes, all of which require magnification and references to confirm. - Did the Mint strike proof cents in 1940?
Yes, 1940 proof Lincoln cents were struck at Philadelphia in relatively small numbers, and PR60–PR67 examples are valued from about 75 to 250 dollars and higher depending on grade and eye appeal. - Do 1940 pennies have any special metal content?
No, they are standard bronze Wheat cents, 95% copper and 5% tin and zinc, weighing 3.11 grams with a 19‑millimeter diameter and a plain edge.
3 quiz questions about 1940 Lincoln cents
- Approximately how many 1940 cents did the Philadelphia Mint strike?
A) 58,681,000
B) 81,390,000
C) 112,940,000
D) 586,810,000 - Which notable 1940 variety shows strong doubling on “IN GOD WE TRUST” and the date?
A) 1940‑S over S
B) 1940‑D doubled‑die obverse
C) 1940‑P overdate 1940/39
D) 1940‑S struck on steel planchet - What is unusual about the 1940 cent struck on a brass planchet?
A) It has a silver‑colored surface
B) It uses a blank intended for a foreign or token issue, giving it slightly different color and weight
C) It has no date
D) It was only sold in proof sets
1940 Lincoln Cent, Takeaway
1940 is a high‑output Wheat cent year, easy and inexpensive to collect in circulated condition, yet surprisingly rewarding if you chase bright red Mint State coins, the dramatic 1940‑D doubled‑die obverse, and the occasional wrong‑planchet or proof example. In your series it nicely illustrates how even a “common” three‑mint date can support everything from starter album slots to four‑figure trophies once grade, color, and variety enter the picture.