Collectors have been demanding Lincoln pennies because they were initially struck in 1909, the year when President Abraham Lincoln celebrated 100. These coins’ designs have changed many times over time. The Lincoln Memorial dime, which was made from 1959 to 2008 and has the famous Lincoln Memorial on the back, is a great example.
These pennies are generally at face value when they are in circulation. On the other hand, examples in immaculate conditions can fetch high prices, from hundreds to thousands of dollars. It takes an eye for detail to identify valuable Lincoln Memorial coins. By making the process easier, this guide will help you identify which of these coins are valuable for your collection.
10 Valuable Lincoln Penny
- 1983-D Bronze Lincoln Penny
- 1969-Doubled Die Lincoln Penny
- 1981-S Type II Proof Lincoln Penny
- 1983 Doubled Die Reverse Penny
- 1979-S Type II Proof Penny
- 1998 Wide AM Penny
- 1992 Close AM Penny
- 1971-S Doubled Die Obverse Proof Penny
- 1970-S Small Date Penny
- 1960- D Over D Small Date Over Large Date penny
1. 1983-D Bronze Lincoln Penny
Price– $1,400
In 1983, the U.S. Mint switched from copper to zinc core pennies because of high copper prices. The last 95% copper pennies were minted in 1982, making the new 1983 zinc pennies with copper cladding popular among collectors. The 1983-D bronze penny such as a valuable transitional coin, scarce and intriguing in mint condition. Its rarity is especially notable in MS67 and higher grades. If you find a red 1983-D bronze Lincoln penny in mint state, be prepared to pay at least $1,400 for it.
2. 1969-Doubled Die Lincoln Penny
Price – $126,500
The 1969 Lincoln Memorial penny with a doubled die error is one of the rarest Lincoln pennies, first recognized in the 1990s, decades after it was minted. This coin’s doubling is easily visible, especially around “LIBERTY” and “IN GOD WE TRUST,” adding to its desirability. The scarcity and clear doubling make it incredibly valuable. Only several dozen examples are known, but some mint-state versions have surfaced, hinting that a few more may still be out there. A notable MS64-graded penny sold for $126,500 in 2005, proving just how profitable finding one can be.
3. 1981-S Type II Proof Lincoln Penny
Price– $900 to $1,200
In 1981, the Mint produced two types of Lincoln Memorial proof pennies: Type 1 with a less defined “S” mint mark and Type II with a clearer, more refined “S” showing distinct serifs. While most 1979 and 1980 pennies featured the Type 1 mark, around 10% of 1981 proofs had the desirable Type II. These coins are rarer and thus more valuable. Collectors prize 1981-S Type II proof Lincoln pennies graded PF68 and higher, with values ranging from $900 to $1,200. Their clarity and scarcity make them sought-after pieces.
4. 1983 Doubled Die Reverse Penny
Price– $7,050
Not all doubled-die reverse errors are created equal. The more noticeable the doubling, the higher the coin’s value. While such errors are fairly common on Lincoln cents, the 1983 doubled die reverse penny is exceptional, showing the strongest doubling in the series. Clear doubling is seen around “E PLURIBUS UNUM,” “ONE CENT,” and “UNITED.” Finding examples in high-mint state grades is challenging, which increases their worth. A remarkable MS68 grade 1983 doubled die reverse penny sold at auction for $7,050, proving its value to collectors.
5. 1979-S Type II Proof Penny
Price– $4,000
In 1979, the U.S. Mint produced two types of Lincoln proof pennies: Type I with a rounded, bulbous “S” mint mark and Type II with a clearer, more defined “S.” The majority of proofs that year were Type I, while Type II coins appeared later and in much smaller numbers. This scarcity has drawn strong interest from collectors and boosted their value. Some 1979-S Type II Lincoln Memorial proof pennies have fetched prices up to $4,000 at auction, making them highly desirable among enthusiasts.
6. 1998 Wide AM Penny
Price– $5,000
The 1998 Lincoln penny has an intriguing story that captivates collectors. A minting error occurred when workers mistakenly used a proof reverse die on coins meant for general circulation. This mistake is seen in 1998, 1999, and 2000 pennies, with the 1998 version being the rarest. Over 100,000 coins with this error were struck due to reused dies.
To identify this error, check the spacing of the letters “AM” in “AMERICA.” Circulation strike coins from 1993 to 2008 show close-set “AM,” while proof coins from 1994 to 2008 have clearly separated “AM.” While 1998 wide AM pennies are easier to find in circulated condition, mint state examples graded MS67 or higher are scarce and valuable, with prices reaching $5,000 or more
7. 1992 Close AM Penny
Price– $25,850
In 1992, the Mint used dies that spaced the “AM” in “AMERICA” apart but transitioned to a close “AM” design in 1993. However, some 1992 pennies mistakenly featured the 1993 close “AM” design, making them unique. This anomaly is visible to the naked eye, adding to its appeal.
Only three of these rare transitional 1992 Close AM pennies are known to exist. The first was found in 2006, and another example is in the About Uncirculated condition. A third, graded MS62 Red by PCGS, is the only known certified piece. In 2017, Heritage Auction sold a 1992 Close AM penny-graded MS67 Red for $25,850.
8. 1971-S Doubled Die Obverse Proof Penny
Price– $3,220
The 1971-S Doubled Die Obverse Proof Penny is a rare and valuable coin, with two varieties—weak and strong doubling. The strong doubling, visible around “LIBERTY” and “IN GOD WE TRUST,” makes it especially sought after. This penny’s scarcity increases its value, and cameo or deep cameo specimens are the most valuable. A PF67-graded example sold for $3,220 in 2005. This coin continues to grow in popularity among collectors and is a great addition to any collection.
9. 1970-S Small Date Penny
Price – $18,400
The 1970-S Small Date Penny is one of the most valuable and sought-after Lincoln cents. Struck at the San Francisco Mint, this penny comes in two varieties: the Small Date and the Large Date. The Small Date is particularly rare, with collectors often searching for it in rolls and pocket change. Even in circulated condition, it’s worth more than its face value, and in mint state, it can fetch three figures or more depending on the grade.
To distinguish it, the number “7” in the date aligns with the other digits on the Small Date, while it sits lower on the Large Date. Additionally, the word “LIBERTY” is weak on the Small Date and strong on the Large Date. A PF69 Deep Cameo 1970-S Small Date penny sold for $18,400, making it a valuable addition to any collection.
10. 1960- D Over D Small Date Over Large Date penny
Price – $4,025
The 1960-D Over D Small Date Over Large Date penny is a rare and valuable coin due to a minting error at the Denver Mint. Workers mistakenly punched the “D” mint mark in the wrong position and then re-punched it in the correct orientation, creating a double mint mark.
Additionally, the coin features a date error, with a large date struck first, followed by a smaller date on top. This combination of errors makes the penny especially collectible. These coins are hard to find, particularly in gem condition. A 1960-D Over D Small Date Over Large Date penny graded MS66 sold for $4,025 in 2008, highlighting its value among collectors.
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Bottom Line:
Lincoln pennies have captivated collectors for over a century, with many varieties offering significant value. From rare minting errors like the 1969 Doubled Die Lincoln Penny to unique transitional pieces like the 1992 Close AM Penny, these coins continue to grow in demand.
Whether it’s the 1970-S Small Date Penny or the 1983-D Bronze Lincoln Penny, each of these valuable coins tells its own fascinating story. With proper knowledge and a keen eye for detail, collectors can unearth rare treasures that may be worth thousands of dollars, making them highly desirable additions to any collection.
