How Much is a Lincoln Penny Worth?

The Lincoln penny is a United States coin with the face of Abraham Lincoln, the 16th president of the U.S., on its front side and an image of the Lincoln Memorial on the reverse. The penny was first issued in 1909 as part of a program by sculptor Victor David Brenner to beautify U.S. coinage designs that had remained essentially unchanged for over 50 years—thus becoming one of only three coins ever designed by a single man (the other two: Charles E Barber’s ‘so-called’ Mercury dime and his ‘so-called’ Buffalo nickel).

Lincoln pennies are made from 95% copper and 5% zinc and are worth between $0.096 USD and $2.584 USD

Read on for more information about the Lincoln Penny value, minting, metal and where to buy.

Lincoln Penny Values and Prices Table

Lincoln Penny Values and Prices Table

DATE GOOD FINE EXTREMELY FINE UNCIRCULATED
1909 Lincoln Penny $4 $6 $8 $12
1909 Lincoln Penny (S) $100 $125 $225 $275
1910 Lincoln Penny $0.35 $1 $4 $10
1910 Lincoln Penny (S) $17 $22 $45 $80
1911 Lincoln Penny $0.45 $1.50 $6 $11
1911 Lincoln Penny (D) $6 $10 $50 $75
1911 Lincoln Penny (S) $50 $60 $85 $110
1912 Lincoln Penny $1.25 $2.25 $13 $25
1912 Lincoln Penny (S) $24 $29 $75 $110
1912 Lincoln Penny (D) $7 $10 $65 $100
1913 Lincoln Penny $0.85 $2 $18 $27
1913 Lincoln Penny (D) $3 $4.50 $50 $70
1913 Lincoln Penny (S) $14 $20 $60 $100
1914 Lincoln Penny $0.75 $2 $20 $40
1914 Lincoln Penny (D) $200 $300 $875 $1,500
1914 Lincoln Penny (S) $24 $30 $85 $175
1915 Lincoln Penny $1.75 $5 $60 $70
1915 Lincoln Penny (D) $2 $4 $22 $45
1915 Lincoln Penny (S) $20 $30 $70 $135
1916 Lincoln Penny $0.30 $0.75 $8 $13
1916 Lincoln Penny (D) $1 $3 $15 $35
1916 Lincoln Penny (S) $1.75 $3.50 $25 $50
1917 Lincoln Penny $0.30 $0.50 $4 $10
1917 Lincoln Penny (D) $0.80 $1.75 $35 $50
1917 Lincoln Penny (S) $0.50 $1 $10 $25
1918 Lincoln Penny $0.20 $0.50 $3 $8
1918 Lincoln Penny (D) $0.75 $2.50 $12 $35
1918 Lincoln Penny (S) $0.50 $2 $11 $32
1919 Lincoln Penny $0.20 $0.40 $3.25 $5
1919 Lincoln Penny (D) $0.50 $1 $10 $32
1919 Lincoln Penny (S) $0.20 $1 $6 $18
1920 Lincoln Penny $0.20 $0.35 $2.25 $4
1920 Lincoln Penny (D) $1 $3 $19 $40
1920 Lincoln Penny (S) $0.50 $1.50 $10 $35
1921 Lincoln Penny $0.50 $1.30 $9 $22
1921 Lincoln Penny (S) $1.50 $3.50 $35 $75
1922 Lincoln Penny $20 $25 $40 $75
1923 Lincoln Penny $0.35 $0.65 $5 $9.50
1923 Lincoln Penny (S) $4 $7 $40 $90
1924 Lincoln Penny $0.20 $0.40 $5 $10
1924 Lincoln Penny (D) $40 $50 $125 $175
1924 Lincoln Penny (S) $1.30 $2.75 $20 $75
1925 Lincoln Penny $0.20 $0.35 $3 $6.50
1925 Lincoln Penny (D) $0.85 $2.45 $13 $30
1925 Lincoln Penny (S) $0.75 $1.85 $12 $30
1926 Lincoln Penny $0.20 $0.30 $2 $4
1926 Lincoln Penny (D) $1.35 $3.50 $14 $32
1926 Lincoln Penny (S) $9 $13 $35 $75
1927 Lincoln Penny $0.20 $0.30 $2 $3.50
1927 Lincoln Penny (D) $1.25 $2.75 $7.50 $25
1927 Lincoln Penny (S) $1.50 $3 $15 $40
1928 Lincoln Penny $0.20 $0.30 $2 $3
1928 Lincoln Penny (D) $0.75  $1.75 $5.50 $17
1928 Lincoln Penny (S) $1 $2.75 $9.50 $30
1929 Lincoln Penny $0.20 $0.30 $2 $4
1929 Lincoln Penny (D) $0.40 $1.25 $5.50 $13
1929 Lincoln Penny (S) $0.50 $1.65 $5.80 $14
1930 Lincoln Penny $0.15 $0.25 $1.25 $2
1930 Lincoln Penny (D) $0.20 $0.30 $2.50 $4
1930 Lincoln Penny (S) $0.20 $0.30 $1.75 $6
1931 Lincoln Penny $0.50 $1 $4 $9
1931 Lincoln Penny (D) $5 $7 $13.50 $37
1931 Lincoln Penny (S) $60 $85 $125 $150
1932 Lincoln Penny $1.50 $2 $4.50 $12
1932 Lincoln Penny (D) $1.50 $2.50 $4.50 $11
1933 Lincoln Penny $1.50 $2.50 $6.25 $13
1933 Lincoln Penny (D) $3.50 $5.50 $12 $19
1934 Lincoln Penny $0.15 $0.20 $1 $4
1934 Lincoln Penny (D) $0.20 $0.50 $2.25 $7.50
1935 Lincoln Penny $0.15 $0.20 $0.50 $1
1935 Lincoln Penny (D) $0.15 $0.20 $0.50 $2
1935 Lincoln Penny (S) $0.15 $0.25 $2 $5
1936 Lincoln Penny $0.15 $0.25 $1.50 $2.60
1936 Lincoln Penny (D) $0.15 $0.30 $1 $2
1936 Lincoln Penny (S) $0.15 $0.40 $1 $3
1937 Lincoln Penny $0.15 $0.30 $1 $2
1937 Lincoln Penny (D) $0.15 $0.25 $1 $3
1937 Lincoln Penny (S) $0.15 $0.30 $1 $3
1938 Lincoln Penny $0.15 $0.30 $1 $2
1938 Lincoln Penny (D) $0.20 $0.50 $1.25 $3
1938 Lincoln Penny (S) $0.40 $0.60 $1.10 $3
1939 Lincoln Penny $0.15 $0.20 $0.50 $1
1939 Lincoln Penny (D) $0.50 $0.65 $1.25 $3
1939 Lincoln Penny (S) $0.15 $0.30 $1 $2.50
1940 Lincoln Penny $0.15 $0.20 $0.60 $1
1940 Lincoln Penny (D) $0.15 $0.25 $0.75 $2
1940 Lincoln Penny (S) $0.15 $0.20 $1 $1.75
1941 Lincoln Penny $0.15 $0.20 $0.60 $1.50
1941 Lincoln Penny (D) $0.15 $0.20 $1 $3
1941 Lincoln Penny (S) $0.15 $0.30 $1 $3
1942 Lincoln Penny $0.15 $0.20 $0.50 $0.75
1942 Lincoln Penny (D) $0.15 $0.20 $0.50 $0.85
1942 Lincoln Penny (S) $0.20 $0.30 $1.25 $5.50
1943 Lincoln Penny N/A $0.30 $0.40 $0.50
1943 Lincoln Penny (D) N/A $0.35 $0.45 $0.75
1943 Lincoln Penny (S) $N/A $0.40 $0.75 $1
1944 Lincoln Penny N/A N/A $0.20 $0.35
1944 Lincoln Penny (D) N/A N/A $0.20 $0.35
1944 Lincoln Penny (S) N/A N/A $0.20 $0.35
1945 Lincoln Penny N/A N/A $0.20 $0.35
1945 Lincoln Penny (D) N/A N/A $0.20 $0.35
1945 Lincoln Penny (S) N/A N/A $0.20 $0.35
1946 Lincoln Penny N/A N/A $0.20 $0.35
1946 Lincoln Penny (D) N/A N/A $0.20 $0.35
1946 Lincoln Penny (S) N/A N/A $0.20 $0.35
1947 Lincoln Penny N/A N/A $0.20 $0.40
1947 Lincoln Penny (D) N/A N/A $0.20 $0.40
1947 Lincoln Penny (S) N/A N/A $0.25 $0.50
1948 Lincoln Penny N/A N/A $0.20 $0.35
1948 Lincoln Penny (D) N/A N/A $0.20 $0.35
1948 Lincoln Penny (S) N/A N/A $0.20 $0.35
1949 Lincoln Penny N/A N/A $0.20 $0.35
1949 Lincoln Penny (D) N/A N/A $0.20 $0.35
1949 Lincoln Penny (S) N/A N/A $0.30 $0.35
1950 Lincoln Penny N/A N/A $0.20 $0.35
1950 Lincoln Penny (D) N/A N/A $0.20 $0.35
1950 Lincoln Penny (S) N/A N/A $0.25 $0.35
1951 Lincoln Penny N/A N/A $0.25 $0.35
1951 Lincoln Penny (D) N/A N/A $0.12 $0.35
1951 Lincoln Penny (S) N/A N/A $0.30 $0.50
1952 Lincoln Penny N/A N/A $0.15 $0.35
1952 Lincoln Penny (D) N/A N/A $0.15 $0.25
1952 Lincoln Penny (S) N/A N/A $0.20 $0.35
1953 Lincoln Penny N/A N/A $0.15 $0.20
1953 Lincoln Penny (D) N/A N/A $0.15 $0.20
1953 Lincoln Penny (S) N/A N/A $0.15 $0.20
1954 Lincoln Penny N/A N/A $0.35 $0.45
1954 Lincoln Penny (D) N/A N/A $0.12 $0.20
1954 Lincoln Penny (S) N/A N/A $0.12 $0.20
1955 Lincoln Penny N/A N/A $0.12 $0.15
1955 Lincoln Penny (D) N/A N/A $0.12 $0.15
1955 Lincoln Penny (S) N/A N/A $0.30 $0.40
1956 Lincoln Penny N/A N/A $0.12 $0.15
1956 Lincoln Penny (D) N/A N/A $0.12 $0.15
1957 Lincoln Penny N/A N/A $0.12 $0.15
1957 Lincoln Penny (D) N/A N/A $0.12 $0.15
1958 Lincoln Penny N/A N/A $0.12 $0.15
1958 Lincoln Penny (D) N/A N/A $0.12 $0.15

Source

 

What is the Lincoln Penny coin?

What is the Lincoln Penny coin

The Lincoln Penny is a United States coin worth one cent, issued by the US Mint. It was designed by Victor David Brenner and is currently on its eighteenth design since its introduction in 1909.

The obverse side of the penny depicts former president Abraham Lincoln facing right. The reverse side or tails shows Lincoln’s historic home in Pennsylvania. The original 1909 Wheatback Lincoln penny’s reserve depicted the Lincoln Memorial but was changed in 1959.

The U.S Mint, in 2009, issued four designs for the reverse of the Lincoln Penny (the Lincoln Memorial). The Congress had authorized a new design for that side of the coin in 1936. But it wasn’t until 1959 when a law allowed them to be struck with the required design. Current Coins have been made since 1909.

Mint

Originally, the coin was minted at the Philadelphia Mint, which remains their principal place of manufacture to this day. However, today, these pennies are struck at all four U.S. mints (Philadelphia, Denver, San Francisco, and West Point).

Metal Used

The metal used to mint the Lincoln Penny is copper-plated zinc. The metal composition of each coin was changed in 1982 when the alloys for both types were changed from bronze and nickel to yellow-plated Zinc with a pure copper coating on top.

Reason for Minting the Lincoln Pennies

The Lincoln Penny was designed to honor the 100th Anniversary of Abraham Lincoln’s birth; 16th President of the United States and arguably one of America’s greatest leaders.

Since 1909, when the coin was first minted, more than 114 billion pennies have been produced. That means that there are a lot of pennies out there and many of them are worth more than their face value.

The coin has been in circulation for over 60 years so there are still plenty of those coins out there. A market like that means anyone could find themselves with pennies that are worth more than their face value.

If you happen to have a Lincoln Penny laying around the house, here’s how much it is worth:

Features of Lincoln Penny Coin

On the coin’s reverse side is the inscription with the Lincoln memorial bearing the inscription “In God We Trust”, and four inscribed wheat stalks as well as the year. On the top of Abraham Lincoln’s head is the inscription “Liberty”.

Here’s an in-depth look at unique features of the Lincoln penny.

Portrait of Lincoln Penny Coin

Victor David Brenner, Lincoln Penny’s original designer, engraved Abraham Lincoln’s portrait facing right on his artwork.

Head and Tail Features of the Lincoln Penny Coin

On the obverse (head) side, there is an image of Abraham Lincoln’s bust facing right with his head in three-quarters view. The side also has seven stars to the left and six stars to the right representing the original colonies of the United States.

On the reverse, there is either a wheat sheaf to represent agriculture or an “I” for one cent (which can be found on all Indian Head design coins) and ONE CENT written beneath it. An eagle with spread wings stands in front of the penny and has its head turned toward Lincoln’s bust on the obverse side.

Mintmark of the Lincoln Penny Coin

The mintmark is located on the bare breast of an eagle that has been featured on every U.S. coin since 1793 except for the Susan B. Anthony dollar from 1979 to 1981.

The original mint marks were hand-engraved until 1980 when they started using laser technology due to high demand during production. However, the letter “P” beneath an eagle is still hand-engraved today.

Slogans written on the Lincoln Penny Coin

  • 1864: god bless abe lincoln/the national centennial committee
  • 1863: wheat sheaf…/Abraham lincoln
  • 1860: abe lincoln/united states of America
  • 1859 no markings
  • 1972 – 1982 no markings (with exception to early in 1972, before officially removing “In God We Trust”)
  • 1988: life is good
  • 1990 – 1992: life is better with ‘merica
  • 1993 – 2000: life’s better in the usa
  • 2000 to present: life’s better w/out borders
  • 2001 – 2007: united we serve
  • 2008 to present: service starts at home
  • 2010-present: we did it!

Metal Used for the Lincoln Penny Coin

The original pennies were made from 95% copper and 5% zinc. They weighed a hefty 24 grams each, which is why they were nicknamed “cartwheels.”

In 1982, the Mint discovered that about half of its pennies contained the wrong amount of copper due to either mistakes or deliberate attempts at fraud. Instead of continuing this practice, they decided to change the composition of the pennies to 97.5% zinc and 2.5% copper. This new alloy was much lighter (only 3.11 grams) but still able to fit all those reverse letters inside!

Weight and Dimensions of Lincoln Penny Coin

The weight and dimensions according to the United States Mint are 3.11 grams in mass, 0.750 inches in diameter within a range of tolerance ±0.004 inch (±0.1 mm), and -inch (±7µ) in thickness with a variation no greater than .076mm (.003 inch).

Lincoln Penny Value

Lincoln Penny Value

First, what is the denominational value of the Lincoln Penny? What’s the face value written on the coin? The face value of a Lincoln Wheat back penny is 1 cent. That’s equivalent to 1/100th of a dollar.

How much is the metal in the Lincoln Penny coin worth?

Melt value of the coin varies based on the type of alloy used during its minting year. Currently, most pennies are composed of 97% zinc or plated with 5 grams of copper. However, depending on when your coin was made it could contain up to 5 percent tin which would increase its melt value by about $20USD per penny.

How much is the Lincoln Penny coin at the pawnshop?

The pawnshop would sell it depending on the condition of the coin. If it’s not too bad they will most likely take off your hands for around 75 cents. If it’s in bad shape, they’ll tear you off a strip and offer around 5-10 cents.

However, if taken to a refiner/slag reclamation plant then they will pay you roughly $2USD per Lincoln penny. If taken to the local bank for its actual face value, then one will receive roughly 94 cents per Lincoln penny or $1732USD per standard minted Lincoln Penny (the amount of coins in a bag).

Factors that Influence the Value of Lincoln Penny

An 1873 Indian Head cent is a popular coin for beginning collectors because it is inexpensive and easy to find. The value of any Lincoln penny, however, will depend on several factors.

Some coins are rarer than others because they were minted in smaller numbers or were lost or discarded through the years so that fewer exist today. Other factors influencing the value of a penny include its grade, if it has been misstruck, and its current condition.

Rarity

The greater the number of people who want to buy or have the wheatback penny, then the less rare (and more valuable) it becomes (and vice versa). With Lincoln pennies, very few were actually minted which is what gave rise to its greatest attribute; history.

However, since so many millions and billions are produced annually, there isn’t anything scarce about them and thus collectors don’t chase after them anymore.

Grade

Grade refers to how much wear a penny has accumulated since it left the U.S. Mint more than 100 years ago. Coins with no visible signs of wear are known as Uncirculated, or MS-60 to MS-70 grades for older coins. Newer pennies might not have any real value beyond their face values unless they’re in Uncirculated condition or higher grade because pennies are made from inexpensive metals.

Mistruck error coin

A misstruck or error coin is a penny that came out of the mint looking different in some way from other specimens. For example, a 1904 Lincoln Wheat cent that’s missing part of its date would be considered an error and worth more than other pennies of similar quality. To determine if your penny is mistruck or has a minting error, look for signs such as lamination breaks and die scratches on the surfaces of the coin.

How new or clean

A shiny-looking penny is attractive to collectors but it’s not necessarily one they’ll pay you more for. The color of a penny makes no difference in its unless it is so dark or so bright that it has an effect on the overall appearance of the coin. Anything else that makes your penny look new or clean will not affect its worth, either.

FAQ

FAQ

1. What is the Lincoln Penny made of and why are they valuable?

The Lincoln Penny is an American penny that has been produced continuously since 1909. The penny is made of copper, tin, and zinc. The Lincoln penny is a valuable coin due to its composition. Copper and tin have an intrinsic or melt value of $1.43 per ounce, meaning that the copper and tin alone would be worth more than $0.01. Adding in the base metal of zinc makes this penny worth over $0.05.

2. How much are Lincoln pennies worth?

Generally, Lincoln pennies are worth about $0.01 to $0.02 because of their metal value. Older pennies may be worth more due to the composition of the penny and its rarity.

3. How many Lincoln pennies have been minted in history?

Over 1.5 billion Lincoln pennies have been minted between 1909 and 2012. About 12 million of these were rare pennies that included the mint mark “S” on the coin.

4. How rare are Lincoln pennies?

Lincoln pennies can vary in rarity, depending on the year they were minted. Some years have less rare pennies than others. The rarest penny is the 1943 copper Lincoln penny. About 40,000 of these were minted due to a penny shortage in 1943.

5. What do the words “In God We Trust” on a penny mean?

“In God We Trust” first appeared on a United States coin in 1864. The words were a result of national outrage over the Civil War and are present on the penny to this day.

6. What is “Wheat Ears” on a Lincoln penny?

The design of the reverse of the Lincoln penny changed in 1959 to include clusters of 3 wheat ears. The change was due to public objection over composing a coin with only one stalk of wheat.

7. What is the value of a Lincoln penny without a mintmark?

Lincoln pennies from before 1982 are valued differently depending on the location of the mintmark on the coin. Lincoln pennies made in Philadelphia are valued at $0.01. Those made in Denver, San Francisco, and the West Point Mint has a value of $0.02. Those made in 1982 have no mintmark and are valued at around $0.02.

8. What is the Lincoln Memorial on a penny?

In 1959, the obverse of the penny was changed to include relief of the Lincoln Memorial on the coin.

9. Why do some people hate the Lincoln penny?

Some American legislators want the Lincoln penny discontinued. According to them, getting rid of pennies is the best thing to do because minting it is a waste of time and resources. They say you cannot buy anything for a penny and therefore it’s wasteful for the federal means to continue producing it.

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