If you like Abraham Lincoln and want to collect pennies with him on them, read on. Lincoln cents are very popular and have been made in large numbers since 1909, when they were first made to honor the president’s 100th birthday.
The shape of the coin has changed many times over the years. From 1959 to 2008, the Lincoln Memorial penny had a new design on the back that showed the famous Lincoln Memorial.
A regular Lincoln Memorial Penny is worth about what it says on the coin when it is used. Even so, these coins are still valuable when they are brand new, as they can fetch hundreds or even thousands of dollars.
If you don’t know what to look for, it can be hard to find a valuable Lincoln Memorial Penny. This guide makes it easy to do that by getting you Lincoln Memorial Pennies that are worth money.
1. 1983-D Bronze Lincoln Penny – $1,400
In 1983, the US Mint switched from making copper pennies to making zinc core pennies because copper was getting harder to find and the prices were pretty high.
Since the last 95% copper pennies were made in 1982, collectors were very interested in the new 95% zinc pennies with copper covering that came out in 1983. They bought a lot of these pennies to keep for themselves.
This bronze coin from 1983-D is one of the most valuable Lincoln Memorial pennies because it is a change piece. It’s hard to find in mint condition and has an interesting past. Coins with an MS67 or higher are especially hard to find.
Getting a red 1983-D bronze Lincoln monument penny that is mint will cost you at least $1,400.
2. 1969- Doubled Die Lincoln Penny – $126,500
It is very rare to find a 1969 Lincoln Memorial penny with a doubled die mistake. One was found in the 1990s, almost 30 years after the coins were first made.
This penny has a very clear doubling that can be seen with the naked eye. This makes it even more desired. This, along with the fact that the coin is notoriously hard to find, shows how valuable the 1969-doubled die Lincoln penny can be. Around LIBERTY and the country’s slogan, “IN GOD WE TRUST,” there is a lot of doubling.
There are known to be several dozen of these pennies. As of late, a few mint-condition examples have been found, which means that a few more 1969 doubled die mistake pennies are still out there to be found.
In 2005, a very rare one that was graded MS64 sold for $126,500. You can see that this Lincoln penny is very precious. Just make sure you look for coins that you can see. These will give you the most money.
3. 1981-S Type II Proof Lincoln Penny – $900 and $1,200
Number fans call the two kinds of Lincoln memory pennies that the Mint made in 1970 “Type 1” and “Type II.” The form of the S mint mark is what makes them different. Type I coins have a S that is less clear, while Type II coins have one that is more clear.
The Type 1 Lincoln memory coin is the most common type from 1979 and 1980. But the Mint changed the S mintmark drills so that the S was easier to see and had clear serifs.
About 1 in 10 Lincoln Memorial proof pennies were made with punches that had Type 2 mint marks on them. These pennies are more expensive and sought after because they are harder to find than Type II pennies.
Found examples of the 1981-S type II proof Lincoln memorial pennies are worth PF68 or more and range in value from $900 to $1,200.
4. 1983 Doubled Die Reverse Penny – $7,050
Not all doubled die reverse mistakes are the same. The coin is worth more when it can be seen that it has been doubled.
Lincoln cents often have mistakes where the dies are turned over twice, so look for ones that have strong doubling that you can see with the naked eye.
Some people think that the 1983 doubled die reverse penny has the best doubling of any Lincoln penny ever made.
Around the motto E PLURIBUS UNUM and the words ONE CENT and UNITED, it’s easy to see that there are two of them.
It’s hard to find examples in better mint state grades, which makes them even more valuable. A doubled die reverse penny from 1983 that was marked MS68 sold at auction for a huge $7,050.
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5. 1979-S Type II Proof Penny – $4000
There will still be two kinds of Lincoln proof pennies in 1979: Type I and Type II. The mint mark on Type II coins is easier to see and read than on Type I coins, whose S is rounder.
That year, most of the proofs that were made were Type I. A few months later, Type II copies were made. There were not as many type II Lincoln cents as there were type I cents. This made buyers interested in the coins, which raised their value over time.
A 1979-S Type II Lincoln Memorial test penny has been sold at auction for $4000.
6. 1998 Wide AM Penny – $5,000
Coin fans love the 1998 Lincoln penny even more because it has an interesting history. The back of this regular coin was struck by chance by workers at the mint with the back of a proof die press.
This mistake can be seen on circulation strike Lincoln cents from 1998, 1999, and 2000. The 1998 type is the rarest. There are more than 100,000 pennies with this minting mistake because more than one die was used and then used again to make them.
To be sure that a Lincoln penny was made with a test reverse die, look at the letters AM in the word AMERICA.
The letters AM are close to each other on business strike coins from 1993 to 2008. On the other hand, proof coins from 1994 to 2008 have the letters AM clearly split.
Wide business strike in 1998 AM Pennies are easy to find when they are used, but not so easy to find when they are brand new. Items rated MS68 or higher are very uncommon and will sell for a lot of money when they come up for auction.
You should be ready to pay $5,000 or more for MS67 or higher 1998 wide AM Lincoln pennies.
7. 1992 Close AM Penny – $25,850
The letters AM of AMERICA were spread out on Lincoln cents made by the Mint in 1992. The next year, the dies were changed so the letters AM were closer together.
It’s interesting that some pennies from 1992 had a close AM design that was meant to be on the transitional cents from 1993 after the die was changed.
For some reason, the 1992 Close AM penny is the only one in the Lincoln penny line to have a transitional design (1993 Wide AM). The best thing about this is that you can see it with your own eyes.
There are only three known examples of the 1992 Close AM penny with a transitional design. These coins are very uncommon. In 2006, fourteen years after they were first seen, the first one was found. The second one is thought to be in “About Uncirculated” form and may not have been sold yet.
The most current one, which was certified by the Professional Coin Grading Service, was given the grade MS62 and the color “Red.” It’s possibly the only real proof of this important date. A Red-color 1992 Close AM penny (MS67) sold at Heritage Auction in 2017 for a huge $25,850.
8. 1971-S Doubled Die Obverse Proof Penny – $3,220
On the front of the 1971-S proof double die Lincoln penny, there are two types: one with weak doubling and the other with strong doubling.
The examples that have strong doubling that can be seen with the naked eye are more important. You’ll notice that the words LIBERTY and IN GOD WE TRUST are written twice.
The 1971-S triple die obverse proof Lincoln cent is also very hard to find, which makes it more valuable. You should add this penny to your collection because over the years it has become more valuable and collectors are more interested in it.
The best examples to sell are cameos and deep cameos. A PF67-graded cameo stone sold for $3,220 in 2005.
9. 1970-S Small Date Penny – $18,400
In 1970, the San Francisco Mint made Lincoln monument pennies for everyday use and as proofs. Later, collectors found that the dates on some of these pennies are very small, while dates on others are very big.
People were really interested in these pennies, and they quickly became some of the most sought-after in the Lincoln cents line.
The small date penny from the 1970s is especially hard to find. Coin hunters spend years looking through rolls and pocket change to find these coins.
These pennies are worth more than their face value even if they have been used. In mint condition, they can fetch at least three figures, based on the grade.
There are two ways to tell the difference between a Large Date penny and a Small Date fifty cent. The first way is, of course, to look at the date.
The top of the number 7 on Small Date coins lines up with the other numbers (1,9,0). On Large Date coins, on the other hand, the 7 is placed below the other numbers.
The second way is to look at the word “liberty.” On Large Dates, this word looks strong, but on Small Dates, it looks weak.
The most expensive small date 1970s Lincoln penny was sold for $18,400. This piece was given the grade PF69 and was given Deep Cameo rank.
10. 1960- D Over D Small Date Over Large Date penny – $4,025
In 1960, the Denver mint made a strange type of Lincoln pennies with a mint mark that was punched again wrong.
Mint workers punched the first D mint mark in the wrong direction and then tried to fix the mistake by punching another one in the right direction. Because of this, the mint marks look like they are stacked on top of each other.
Dates on this coin were also repunched wrong, with a big date being struck first and a small date being struck on top. When Mint workers realized that the date on the 1960 cent was too big, they changed the dies so that they could be used to make the new small dates instead of making a whole new die.
This type of Lincoln penny is very hard to find, especially in perfect shape. It sold for an impressive $4,025 in 2008 and was rated MS66.
