According to the USA Coin Book, the collector's value of a 1944 copper Wheat Penny ranges from 9 cents to $3.79. The coin's grade determines its value to coin collectors. A coin with moderate wear but whose design is legible is likely to be graded as "fine" (worth 9 cents). An uncirculated Wheat Penny with no wear is worth about $3.79; rare metal pennies command much more.
Some Wheat Pennies are more valuable to collectors than others. Stamping errors, mint marks, grade and dates can all influence the numismatic value of a coin. The grade of the coin is the most common factor that influences value. Many coins are graded on a 70-point scale, with P-1 (poor) being the lowest grade. The highest grade is MS-70, or perfect condition. The higher the grade, the more valuable the coin.
Mint errors and unusual metal content can also influence the value of a coin. Some of the most valuable 1944 Wheat Pennies are made of steel. Only 27 of these steel pennies are known to exist, so their value is higher than that of a standard copper penny from 1944. Cointrackers estimates that these steel pennies are worth more than $77,000 each.