So ihave a silver 1940 wheat penny. On the year to date pricing chart iseen 1940 wheat, 1940 s, d wheat and thats all. Also when you try to use a magnet it doesnt stick?! Im hoping it is an error coin. Help please? All info welcome! Thanks for reading !!
Sorry, that's not silver. Silver isn't magnetic so I'm not sure the relevance of that. The only coin that should be picked up by a magnet is a 1943 wheat cent since it's made of Zinc-coated Steel. If you find a 1943 cent that doesn't get picked up by a magnet, hold onto it! Otherwise, I'd suggest keeping that but not expecting to cash in on it.
You can stop assuming, I think. No cent-size planchets have been made. If it were a silver dime planchet, the strike would bulge out over the edges, with no rim, instead of being cleanly struck. If it were a foreign coin (silver planchet), there might be some possibility, but I'm not aware of any the exact same size of a penny.
If you have access to a scale that can measure to two decimal places in grams, the weight would probably tell the story.