How much is a wheat penny from 1939 with no designers initails?

Use a magnifying glass to look at the fold of Lincoln's coat, around the 8:00 position. The initials will be there, just like they are on all cents minted since 1918.

If your coin has no mint mark, its value ranges from about a nickel in worn condition to a quarter in Almost Uncirculated.

With a D mint mark, the range is 25¢ to $1.00

With an S, 15 to 75¢