The value of 1942 pennies has increased over time due to mint mark identification and quality standards. Pennies from the 1942 Lincoln wheat series can sell for 3 to 10 cents in general circulation, while uncirculated specimens fetch $1 to $5. Clear faults such as doubled dice formations or off-center striking patterns result in significant coin value increases. Mint-state and red-toned pennies command higher prices on the collecting market. For a correct valuation, mint marks should be identified using letter marks (D or S) and then graded by an expert.