How Much is a 1947 Wheat Penny Worth? (Price Chart)

The Wheat penny set is one of the most desired among collectors. This coin with the image of the most beloved US President is worth more than its face value because it is a valuable part of US history. However, these pieces are not rare since three mints produced them in bulk.

If you have such a penny, you probably wonder how much it is worth. As always, some dates are far scarcer and more expensive than others, and their price depends on their grade. Let’s see what the 1947 penny value is.

1947 Penny History

Mints in San Francisco, Philadelphia, and Denver produced these pennies in 1947. The total mintage reached 484,305,000, but most of the coins, an incredible 194,750,000 pieces, came from Denver.

1947 Penny

Location Year Minted
Philadelphia 1947 190,555,000
San Francisco 1947 S 99,000,000
Denver 1947 D 194,750,000
Total / 484,305,000

This $0.01 coin is a part of the Lincoln penny collection, commissioned by the 26th US President Roosevelt. He hired engraver Victor David Brenner to design a coin to mark the 100th anniversary of President Lincoln’s birth.

1947 penny

Face value $0.01
Compound 95% copper plus 5% tin and zinc
Coin diameter 1.5 inches (38.1 mm)
Coin weight 0.1097 ounces (3.11 grams)
Coin thickness 0.0768 inches (1.95 mm)
Edge Plain
Shape Round

Thanks to the coin reverse design, this collection is also known as Wheat pennies. Two stalks of wheat surround ONE CENT denomination, but there are two more engravings on this coin side.

You can see a Latin motto E PLURIBUS UNUM on the coin top rim and the inscription UNITED STATES OF AMERICA below the denomination.

1947 Penny value*

Quality 1947 1947 S 1947 D
Fine $0.05 $0.1 $0.05
Very fine $0.1 $0.2 $0.1
Extra fine $0.2 $0.3 $0.2
AU $0.45 $0.6 $0.45
MS 60 $1.1 $1 $0.7
MS 63 $3.3 $2.3 $2.3

*by USA Coin book

The Lincoln bust occupies most of the coin obverse with the word LIBERTY behind it and the mintage year in the front. Brenner placed the motto IN GOD WE TRUST above Lincoln’s head.

 

1947 Penny Types

Although some key dates from the Lincoln penny collection are worth a lot of money individually, this is not the case with the 1947 penny. So, you can find this coin in good condition for less than $0.5 on average.

1947 Penny value*

Year Extra fine quality Mint state
1947 $0.2 $0.4
1947 S $0.25 $0.5
1947 D $0.2 $0.4

*by JM Bullion

Finding an uncirculated penny is much more of a hassle. According to the Professional Coin Grading Service, the highest recorded value of the 1947 penny is $9,200.

One coin achieved that price at the auction thanks to its MS 67 grade. That means it was almost flawless since the highest quality for any specimen was MS 70.

1947 Penny

1947 Penny
Image

The Philadelphia mint produced 190,555,000 Lincoln pennies in 1947. These coins don’t have a mint mark since the Philadelphia mint only started using the P letter in 1980.

1947 Penny value*

Year Quality
Very fine Extra fine MS 60 MS 65
1947 $0.1 $0.2 $1 $3
1947 S $0.2 $0.25 $0.85 $2
1947 D $0.1 $0.2 $0.6 $2

*By SilverRecyclers

In general, you can quickly find a 1947 penny in low grade at a price under a dollar, while uncirculated coins are relatively rare. If you have the uncirculated 1947 Wheat penny, you can sell it for $2 to $20, depending on its condition and the dealer you choose.

1947 Penny value*

Coin Quality
Very fine Extra fine AU UNC BU
1947 $0.1 $0.45 $1.4 $4.8 $16
1947 S $0.1 $0.4 $1.1 $3.4 $10
1947 D $0.1 $0.4 $1.1 $3.4 $10

*By SilverageCoins

As always, some mint errors will raise the coin value. For instance, one specific 1947 Double die penny in MS 65 condition reached $550 on the 2014 auction.

You can also find a 1947 penny with a lamination defect on its reverse. It is the consequence of alloy mixing and an error that quality controllers somehow missed.

1947 S Penny

1947 S Penny

All 1947 Wheat pennies have the same design. Still, you can distinguish pieces from different mints by their mint marks. For instance, the San Francisco mint used the S letter, and you can find it on the obverse, under the date.

1947 Penny value*

Year Quality
Good Fine Extra fine Uncirculated
1947 $0.02 $0.02 $0.04 $3.83
1947 S $0.03 $0.03 $0.05 $2.94
1947 D $0.02 $0.02 $0.04 $1.10

*by CoinStudy

Unless you have a coin in the mint state, a 1947 S penny won’t differ in value much from pieces struck in Philadelphia. On average, you can expect around 20 cents for an extra-fine graded penny.

1947 D Penny

1947 D Penny

The Denver mint produced 194,750,000 coins in 1947, more than the Philadelphia mint. All these pennies have the D letter on the obverse in front of the President’s bust.

1947 Penny value*

Quality 1947 1947 S 1947 D
Very fine $0.05 $0.05 $0.05
Extra fine $0.2 $0.2 $0.2
AU $0.3 $0.3 $0.3
MS 63 $0.85 $0.85 $0.85
MS 65 $29 $18 $16
MS 66 $56 $32 $99
MS 67 $2,300 $172+ $474

*by COIN HelpU

The mint mark doesn’t play a vital role in determining the 1947 penny value. The differences between all three Lincoln penny types are negligible in most cases.

 

1947 Penny Grading

1947 Penny Grading

If you are a dedicated collector, you will quickly distinguish well-preserved from worn-out 1947 Lincoln penny. The higher the grade, you can see fewer traces of circulation on the particular coin.

A difference between pieces in the MS 65 and MS 67 grades is almost invisible to the naked eye. Luckily, there are some crucial details that professional coin dealers pay attention to before defining a coin as:

Uncirculated – These coins remained almost intact since they were not in circulation at all. Therefore, fine details like the coat line on President’s bust are undamaged. You can notice light color fading, but the coin luster and texture are the same as if pennies were just produced.

1947 penny value

Quality 1947 1947 S 1947 D
Good $0.05 $0.05 $0.05
Very good $0.05 $0.06 $0.06
Fine $0.06 $.08 $0.07
Very fine $0.07 $0.1 $0.09
Extra fine $0.09 $0.15 $0.1
Uncirculated $0.12 $0.2 $0.15
BU $1.15 $0.4 $0.35

*By Hobbizine

Extra fine – If you can clearly see curls in Lincoln’s hair and his bow tie, you probably have an extra-fine 1947 penny.

This grade comes with some minor flaws on the coin surface. For instance, engravings are somewhat flat, and you can spot some scratches or discoloration. Even though such a graded penny went through many hands, someone obviously protected it from further damage on time.

1947 Penny value*

Quality 1947 1947 S 1947 D
Good $0.03 $0.06 $0.01
Very good $0.08 $0.16 $0.04
Fine $0.16 $0.14 $0.18
Very fine $0.22 $0.25 $0.25
Extra fine $0.2 $0.23 $0.2
Uncirculated $2.4 $2 $2.9

*By Numista

Fine – You can read all letters and recognize engravings on the fine-graded penny. Still, most of the coin surface is flat, and the wheat lines are gone, as well as the original luster.

The finely preserved coin clearly shows discoloration and scratches resulting from hands exchanges. Finally, the whole President’s bust is almost like one area, and the details on the coat are no longer visible.

1947 Penny value*

Quality 1947 1947 S 1947 D
Good $0.22 to $0.23 $0.22 to $0.23 $0.22 to $0.23
Very good $0.22 to $0.23 $0.22 to $0.23 $0.22 to $0.23
Fine $0.25 to $0.27 $0.25 to $0.27 $0.25 to $0.27
Very fine $0.27 to $0.3 $0.27 to $0.3 $0.27 to $0.3
Extra fine $0.30 to $0.3 $0.3 to $0.33 $0.3 to $0.33
AU $0.35 to $0.4 $0.35 to $0.4 $0.35 to $0.4
MS 60 $0.4 to $0.5 $0.4 to $0.5 $0.4 to $0.5
MS 61 $0.4 to $0.5 $0.4 to $0.5 $0.4 to $0.5
MS 62 $0.55 to $0.7 $0.55 to $0.7 $0.55 to $0.7
MS 63 $0.8 to $1 $0.8 to $1 $0.8 to $1
MS 64 $1.5 to $1.8 $1.5 to $1.85 $1.5 to $1.85
MS 65 $3.4 to $4 $3.4 to $4 $3.4 to $4
MS 66 $10.8 to $13 $13.5 to $15.6 $10.8 to $13
MS 67 $47.25 to $61 $50 to $63 $47.25 to $61
MS 68 / / /

*by Greysheet

Good – If your 1947 penny was in circulation for decades, it probably gets a good grade. There is significant damage on this coin, including scratches and design flaws.

The details on both the obverse and reverse are almost unrecognizable, and you can hardly see the letters. If you run your fingers over the coin surface, you will feel that the whole penny is smooth and flat.

 

Summary

The 1947 penny is a part of the Lincoln (Wheat) penny collection, and it has historical and numismatic significance. However, this date is common, and finding it in a decent grade is not challenging.

Its value varies from $0.01 to a couple of dollars, depending on its grade. On the other hand, a penny in the mint state can gain you far more.

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