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As with all coins, the value depends greatly on the condition and the mint mark
Look on the front of the coin to see if there's a small mint mark letter below the date. It may be blank or there may be a D or S.
Numismedia lists the following approximate retail values as of 02/2014:
No mint mark (Philadelphia):
Very worn condition - $0.05
Moderately worn - $0.06
Slightly worn - $0.07
Almost no wear - $0.10
Uncirculated - $0.75 to $11.25 depending on quality
"D" mint mark (Denver):
Very worn - $0.05
Moderately worn - $0.08
Slightly worn - $0.09
Almost no wear - $0.20
Uncirculated - $0.46 to $16.25
"S" mint mark (San Francisco):
Very worn - $0.06
Moderately worn - $0.09
Slightly worn - $0.10
Almost no wear - $0.20
Uncirculated - $1.15 to $27.50
Cents that are graded as Full Red due to their color can be worth significantly more in uncirculated condition:
1949: $11.50 to $1800.00
1949D: $7.00 to $750.00
1949S: $6.00 to $275.00
DISCLAIMER: The retail values quoted are the best available as of the date shown, but may vary due to market fluctuations. Also the wholesale (buying) price of a coin will be less than the selling (retail) price. A reputable coin dealer will be able to give a more accurate valuation based on inspection of the coin.
1949 penny; With no mint mark, in very fine condition-$0.10, in uncirculated condition-$1.75. With D mint mark, in very fine condition-$0.10, in uncirculated condition-$2.00. With S mint mark, in very fine condition-$0.20, in uncirculated condition-$4.25
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