A coin called the 1946 Penny is a Lincoln Wheat cent, which is composed of 95% copper and 5% zinc and minted by Philadelphia, Denver and San Francisco mints. Majority of the circulated are of moderate value- 3 to 10 cents- because of their high production. Nevertheless, the coins that have never been circulated or those that contain specific mistakes may have a higher value. Its price is influenced by such factors as mint mark (D in Denver and S in San Francisco) and general condition. High grade, few 1946 Pennies graded by professional coin grading organizations can fetch many dollars or even higher with the numismatic markets.