In 1987, the United States Mint produced billions of pennies, as it does every year. However, what most people don’t know is that some 1987 pennies may be worth more than their face value.
This is due to certain variations and minting errors that can make these pennies valuable to collectors.
Whether you’re a coin enthusiast or just curious about the value of your spare change, this article will explore the factors that can affect the value of a 1987 penny and how to determine whether you have a valuable one in your possession.
1987 Penny Value Details
- Category: US Coinage
- Mints: Philadelphia, Denver, and San Francisco
- Total Mintage: 9,566,084,173 (in all mints combined)
- Face value: $0.01
- Observe designer: Victor D. Brenner (based on the portrait of Abraham Lincoln)
- Reverse designer: Frank Gasparro (based on the Lincoln Memorial)
- Edge: Plain
- Shape: Round
- Diameter: 19.05 mm
- Thickness: 1.55 mm
- Composition: 97.5% zinc, 2.5% copper
- Total weight: 2.5 grams
1882 Silver Dollar Value Chart
| Mint Mark | Good | Fine | Extra Fine | Uncirculated |
| 1987 “No mint mark” Penny | $0.01 | $0.02 | $0.03 | $0.10 |
| 1987 “D” Penny | $0.01 | $0.02 | $0.05 | $0.30 |
| 1987 “S” Penny | $1.00 | $1.00 | $2.00 | $3.00 |
1987 Penny Values and Varieties Guides
1987 No Mint Mark Penny Value
- Type: Lincoln cent
- Edge: Plain
- Mint Mark: No Mint Mark
- Place of Minting: Philadelphia, Pennsylvania, United States
- Year of Minting: 1987
- Face Value: 1 cent ($0.01)
- $ Price: $0.1 – $0.3
- Quantity Produced: 4,682,466,931
- Designer: Victor D. Brenner
The 1987 Lincoln penny struck at Philadelphia Mint does not have a mintmark, hence the name “no mint mark.” This means that it doesn’t have a letter under the date indicating where it was minted.
This coin issue is extremely common, with a total of 4,682,466,931 coins minted. As a result of its commonness, it is usually worth its face value most times, especially in a circulated state. Hence, if you have a worn-out 1987 penny, you might be better off spending it as regular money.
On the other hand, uncirculated 1987 pennies could be worth from 10 to 30 cents. However, a handful of them has been reportedly sold for way more. These ones are sold for their shiny, pristine looks and high grades.
One of the most expensive 1987 no-mint mark penny was graded by MS68RD under the Professional Coin Grading Service. It was then sold at an auction in 2008 for a juicy sum of $546.
1987 “D” Penny Value
- Type: Lincoln Cent
- Edge: Plain
- Mint Mark: “D”
- Place of Minting: Denver, Colorado, United States
- Year of Minting: 1987
- Face Value: $0.01
- $ Price: $0.1 – $0.3
- Quantity Produced: 4,879,389,514
- Designer: Victor D. Brenner
This Lincoln penny has the “D” mark placed right underneath the year, which indicates that it was minted in Denver, Colorado.
Just like the Philadelphia-minted 1987 penny, the Denver mint is pretty common as well, with a total mintage of 4,879,389,514 coins. As time has gone by, many of these coins have been lost, either by fire, natural disasters, damage, or simply just lost. Regardless, there’s still plenty enough to go around!
All 1987-D Lincoln pennies in the circulated form are worth their face value. If uncirculated, however, they may be worth up to $0.3 (30 cents).
There have been rare cases where a 1987-D penny, graded at MS68RD by the Professional Coin Grading Service (PCGS), was bought for about $2,000.
Additionally, some 1987-D pennies can be sold higher, if they have errors. A doubled die error is common in these pennies, and it happens when the design is struck twice. This then results in a slightly distorted image. These error coins can be worth more than their face value, depending on the severity of the doubling and the coin’s overall condition.
1987 “S” Penny Value
- Type: Lincoln Cent
- Edge: Plain
- Mint Mark: “S”
- Place of Minting: San Francisco, California, United States.
- Year of Minting: 1987
- Face Value: $0.01
- $ Price: $1 – $3
- Quantity Produced: 4,227,728
- Designer: Victor D. Brenner
The 1987 San Francisco mint penny, also known as the 1987-S Lincoln cent, is a penny that was minted in San Francisco in 1987. It is a special issue penny that was included in the United States Mint’s annual proof set, which also contained other coins like nickels, dimes, quarters, and half a dollar.
A proof set is a limited number of special pennies, struck for collectors who want to have super shiny examples of their coin collections. They’re usually offered at a higher-than-face-value price by the U.S. Mint.
Proofs are considered special due to how they’re created with more exquisite detail and higher quality. This attention to detail is required to ensure that every bit of the design appears.
The dies containing the designs are specially prepared before being struck onto the blank coins. The blanks too, are also polished and this boosts its appearance, making the coins appear pristine.
There are only 4,227,728 San Francisco mint-struck 1987-proof pennies in existence. These were sold in 1987 proof sets, which also contain other proofs of other 1987 coinage.
Compared to the other mint issues, the San Francisco mint-struck pennies are fewer in quantity. However, they can be found in bountiful supply amongst collectors and can usually be bought for $1 – $3.
The most valuable 1987-S penny ever sold was graded by PCGS as PR70DCAM, and sold for $2,070 in 2004.
Also Read: Top 20 Most Valuable Old Pennies Worth Money (Penny Collection)
History Of The 1987 Lincoln Penny
The Lincoln penny is one of the most well-known and iconic coins in American history. The coin, which features the profile of former US President Abraham Lincoln, has been in circulation since 1909 and was originally made of copper and nickel.
In 1982 though, the US Mint made a significant change to the composition of the penny, replacing the copper content with a cheaper zinc core (97.5%) and copper plating (2.5%).
This happened due to the skyrocketing prices of copper, and also to prevent citizens from melting their coins and selling as raw metal— it was more valuable to do this, as the raw metal had more value than the face value of the coin.
It goes without saying that the 1987 Lincoln penny is made up of the same metal composition.
The reverse of the 1987 penny, showcasing the Lincoln Memorial, was designed by Frank Gasparro (his initials, FG, appear on the lower right side). This design replaced the prior wheat stalk designed by Brenner in 1909.
The words “ONE CENT” are engraved around the rim, just beneath the structure, and the words “UNITED STATES OF AMERICA” are written along the rim on the upper half of the reverse. The popular motto “E PLURIBUS UNUM”, meaning “one from many” is inscribed just between the “UNITED STATES OF AMERICA” and on top of the Lincoln Memorial design.
The edge of the 1987 Lincoln penny is void of any etching or reeding.
Regarding coin collection, since the 1987 penny is still recent (compared to the older issues) and has plenty in circulation, it is not considered highly valuable. However, if there are errors or the coin is in an uncirculated condition, then it could have more value.
Coins are known to serve as mementos of events that took place in the year it was issued or even the year a person was born.
In the case of the 1987 penny, the most notable things that happened are Ronald Reagan’s speech in West Berlin, the first airing of “The Simpsons” and the commencement of the construction of Disneyland in Paris.
1987 Penny Grading
There are different ways of determining the value of a 1987 penny. It is important to know the grading systems, so as to have an idea of what your penny might be worth.
Generally, a coin is graded using a Sheldon Scale. The Sheldon scale measures from poor (p-1) to perfect mint state (MS-70).
While coins were originally valued using words like good, fair, etc., some coin dealers have different ideas about what these terms mean to them.
It is advised to have a professional examine your coins to accurately determine their exact worth but for further insights, you can watch the video below.
1987 Penny Errors
Different coins from different years usually have a unique set of errors and the 1987 penny is no exception.
Errors generally increase the worth of a coin, but it could be quite hard to know whether the errors are genuine or post-mintage errors.
If you have a 1987 penny and you think it might have an error, these 3 errors listed below could be it.
Alternatively, you can watch this video to get more insight into the kind of errors synonymous with 1987 pennies.
1. Doubled Die Error
The double die error is made when some parts of the coin designs are doubled. This can be due to the die being stamped twice at different angles in a device called a hub (used to create the die that strikes coins).
Note that a doubled die error shouldn’t be mistaken with a double strike error, which is done when a coin is struck twice on the press.
While there are no 1987 double die error pennies worth lots of money, the ones that have some form of doubling in the lettering, date, etc., could be sold for as much as $50.
2. BIE Error
This is a tiny vertical die crack in the small gap between “B” and “E” in the word “liberty”, hence having the word “liberty”. These coins are called the “BIE” variants and a 1987 penny with this error could cost anywhere from $3 to $10.
3. Silver Penny Error
Silver pennies are another popular error, and this could be a result of a school experiment where the zinc core’s silvery tint is separated from the copper plating using chemical techniques.
A typical 1987 penny could be worth up to $50, depending on other factors.
FAQs
1. What is the value of a 1987 penny?
In general, a 1987 penny is worth one cent. However, if it is in excellent condition, it may be worth slightly more to a collector.
2. Are there any rare or valuable 1987 pennies?
There are generally not regarded as valuable, but some in extremely fine and uncirculated condition have been reportedly sold for as high as $2,000.
3. What is the composition of a 1987 penny?
The 1987 penny is made of 97.5% zinc and 2.5% copper, with a weight of 2.5 grams.
4. What is the design of the 1987 penny?
The 1987 penny features an image of Abraham Lincoln on the obverse (front) side and the Lincoln Memorial on the reverse (back).
5. What is the most expensive 1987 penny ever sold?
The most valuable 1987 penny ever sold was a 1987-S penny graded by PCGS as PR70DCAM, and sold for $2,070 in 2004.
Conclusion
The 1987 penny isn’t usually regarded as an extremely valuable piece, but if it’s in great condition, you might get more worth for your pennies.
It is extremely important to check your coin’s grading to determine its value, and it is advised that a professional does this for you, if you have no experience with it.
I have a 1987 coin which looks like a double struck streak went right through “In God We Trust”