Many people are still in doubt about the value of the 1997 penny, and you can’t blame them. There’s a general knowledge that 1997 pennies don’t have so much worth, but how true is this?
Are 1997 uncirculated pennies worthless? 1997 error coins? We’re about to find out.
This article is focused on the value of the 1997 penny, and what to do in case you see one lying around your home.
1997 Penny Details
- Category: Lincoln Penny
- Mints: Philadelphia, Denver, San Francisco
- Total Mintage: Over 9 billion
- Face Value: $0.01
- Edge: Smooth
- Composition: 97.5% Zinc, 2.5% Copper
- Diameter: 19.00mm
- Total Weight: 2.50 grams
- Observe Designer: Frank Gasparro
- Reverse Designer: Frank Gasparro
1997 Penny Value Chart
| Mints | Good | Fine | Extremely Fine | Uncirculated |
| 1997 No Mint Mark Penny | $0.01 | $0.1 | $0.1 | $0.30 |
| 1997 – D Penny | $0.01 | $0.2 | $0.2 | $0.34 |
| 1997 – S Penny(proof) | $0.01 | $0.1 | $3 | $5 |
1997 Penny Values and Varieties Guides
1997 No Mint Mark Penny Value
- Type: Lincoln Penny
- Edge: Smooth
- Mint Mark: None
- Place of Minting: Philadelphia
- Year of Minting: 1997
- Quantity Minted: 4,622,800,000
- Designer: Frank Gasparro
- Face Value: $0.01
Usually, coins are identified by their mintmarks. Mintmarks are used to show the exact location of a mintage, but just like most coins minted in Philadelphia, the 1997 P penny doesn’t have a mintmark.
In 1997, 4,622,800,000 coins were produced in the Philadelphia mintage, and this was the highest number of mintages recorded in that year.
Most times, people classify coins without mintmarks are error coins, but that’s far from the truth.
The 1997 P pennies have no mintmark, in essence, it’s quite wrong to classify a coin as an “error coin” because it has no mintmark.
Because the Philadelphia mint produced over 4 billion coins, the 1997 penny is not seen as a rare coin. That means it doesn’t have a considerable value above its face value.
So, when in good or fine condition, these coins are usually only worth their face value.
However, if you have the Philadelphia minted 1997 penny in uncirculated condition (with no visible wear or flaw), it’s worth about 20 to 30 cents.
In October 2016, at a Heritage auction, a 1997 Philadelphia minted 1997 penny was sold for $763.75, and it was graded MS-68 red by PCGS.
Also, in 2021, a 1997 P penny graded at MS69RD was sold for $6,360, and this is the highest value the coin has ever had.
1997 “D” Mint Mark Penny Value
- Type: Lincoln Penny
- Edge: Smooth
- Mint Mark: D
- Place of Minting: Denver
- Year of Minting: 1997
- Quantity Minted: 4,576,555,000
- Designer: Frank Gasparro
- Face Value: $0.01
In 1997, the US minted 4,576,555,000 coins in Denver, and you can find the mintmark on the observed side of the coin, just underneath the date inscription.
Like the other 1997 pennies minted in the US, most of the 1997 Denver coins are only worth their face value in circulated and fine condition.
The mintage of coins in Denver was also over 4 billion, hence it’s not considered a rare and valuable coin. It’s not so difficult to find a 1997 D penny laying around waiting for someone to pick it up.
Most coins get their value because of their scarcity and condition. So, it’s usually unlikely to get a good price for a coin that was minted in excess quantity, and that’s because almost everyone has it.
So, if you find a 1997 D penny that’s in fine or good condition, chances are high that you’ll only get face value for it; unless of course it’s an error coin (we’ll get into that later).
Uncirculated 1997 D pennies are worth about 10 to 30 cents, and that’s like the best value you’ll get for it.
In 1997, a 1997-D penny was bought at $863 in an auction, and this penny was graded MS-68 red by PCGS.
1997 “S” Proof Penny Value
- Type: Lincoln Penny
- Edge: Smooth
- Mint Mark: S
- Place of Minting: San Francisco
- Year of Minting: 1997
- Quantity Minted: 2,796,678
- Designer: Frank Gasparro
- Face Value: $0.01
During the US minting in 1997, special coins were struck, known as “proof coins”. Proof coins are different from regular minted coins and they are usually sold in special sets.
This mintage happened in San Francisco, and only 2,796,678 coins were minted. The proof coins minted in San Francisco are denoted by a mintmark “S” and you can find it just below the date inscription.
Proof coins are made with highly polished blanks that are usually struck two times using a unique die on high-tonnage presses.
The exterior of the 1997-proof coin sets it apart from the others minted in 1997. It has a reflective surface, and you don’t have to strain your eyes to pick out the details on the coin. The letters on the coin have an imaginary frosting finish, and you can tell that tremendous effort was put into the mintage.
The 1997-S proof coins were spent just like regular coins, and you can only find them in proof sets. However, some of the sets were destroyed, thereby limiting the number of proof coins in circulation.
Because they were minted in quite large numbers, these proof coins are not so hard to see. You might be lucky to purchase one from a local dealer for about $3-$5.
In an auction held in 2004, the 1997-S penny was sold for $1898, and this is the highest worth it has ever gotten.
The value of the 1997-S proof coin is all dependent on its condition/grade.
History of the 1997 Penny
Lincoln cent is one of the most popular coins produced by the US mint, and that’s due to its continuous production for more than a century.
The design of the penny has seen so many changes over the years, and the 1997 penny features the “Lincoln Memorial” design.
This coin comes in two varieties; the business strike coin and the one with brighter luster and clear details. The reason for the disparity is that during mintage, the second variety was dipped in a mixture of copper and zinc, as against only copper. And that’s why the 1997 pennies with bright luster are referred to as “mint miss-struck”. However, these differences do not in any way affect their worth and value, as both varieties are considered the same.
The design of the penny was a way to commemorate the 150th anniversary of Abraham Lincoln’s birth in 1959. But the 1997 penny doesn’t denote any historical event in particular.
Lincoln pennies have undergone so many changes; from the year 1909 to 1982, these coins were made of 95% copper and 5% zinc. In 1982, the composition changed to 97.5% zinc and 2.5% copper, but in 1997 the coin was changed to 97.5% zinc and 2.5% copper, but a thicker copper plating was used, to give the coin a more copper-look.
On the 1997 penny, you’ll clearly see the “LIBERTY” inscription on the observe side of the coin, while on the reverse “UNITED STATES OF AMERICA” is boldly written
It’s important to also note that since the 1997 pennies were minted in over 9 billion quantities, you can easily find one. However, it’s always best to go for high-grade coins that are already certified.
1997 Penny Grading
Knowing the grade of your coin is important, as that’s the only way to ascertain its real value.
The grading of the 1997 penny is quite simple and that’s because it’s a low-value coin. If your coin already has some blemishes and wear, unfortunately, it can’t be worth more than its face value.
A quick look at our “value chart” above will give you an idea of how much your coin is worth depending on its value.
For 1997 pennies that are graded MS 65 and uncirculated, you can sell them for about $1. But if it’s a proof coin and graded PR 65 with just a few blemishes, it’s worth about $5-$10.
To grade your 1997 penny from the comfort of your home, check out this video. Although you might need the U.S. coin grading book and a coin magnifier.
1997 Penny Errors
Error coins are usually worth more than normal business coins. Coins collectors are usually fascinated when they come across error coins, and that’s why they are willing to pay extra to include them in their collection.
But you need to know that not all error coins have value, as some as just damaged from being in circulation for too long.
The most valuable error coins are those in uncirculated condition. Let’s look at a few error pennies the U.S. mint produced in 1997.
1. 1997 Missed Center Penny
This is one of the most valuable error coins in the 1997 mintage, and that’s because they are relatively rare.
Ideally, the dies of the 1997 penny ought to have a square shape and be positioned between the dies. However, when you notice that the dies in your coin don’t tally, there’s a high chance it has an off-center error.
If all the dates and inscriptions on the coin are still very visible, then you’re in luck, because you’ll sell it off at a good price without any hassle.
The worth of these error coins varies depending on their condition. If it’s in uncirculated condition, it can be priced at $100 and above, however, if it’s in fine condition, you’ll only get about $5 to $10 when you decide to sell it off.
2. 1997 BIE Penny
This error is quite common with coins, but that doesn’t make it less sought after. It happens when a die gouge creates a unique shape on the coin, resembling the letters “BIE” between the letters “B” and “E” in the word “LIBERTY”.
Because this is a common error, it’s not usually considered a major error, and thus it doesn’t affect the value of the coin.
The majority of 1997 pennies with the BIE error are still not worth more than face value. The value of this error coin will depend on factors like its condition and rarity.
If it’s in uncirculated condition, you might be able to sell it for $5 to $10.
It’s also worth noting that some people might intentionally create a fake BIE error, so they can sell it at a premium price to unsuspecting collectors. So, as with any coin, you must check with a third-party grading service to be sure of its authenticity and accurate value.
3. 1997 Repunched Mint Mark (RPM)
Just like the name implies; some 1997 pennies have their mint mark stamped more than once, creating a slightly blurred effect.
This is quite a minor error, and it doesn’t affect the value of the 1997 penny. In September 2021, a 1997 penny in fine condition with the RPM error was worth around 25 cents to a collector.
However, if you have one in uncirculated condition, with a strong and visible RPM error, it can be worth up to several dollars.
You can watch the video below to see other errors to look out for in a 1997 penny.
FAQs
1. Are 1997 Pennies Rare?
No, they aren’t. the 1997 pennies were minted in over 9 billion quantities, so they aren’t considered rare. However, some varieties and error coins might be more scarce than others.
2. What’s The Worth Of A 1997 Penny?
In averagely circulated conditions, 1997 pennies are worth their face value ($0.01). But in uncirculated condition, they are worth about $0.3
Conclusion
The value of your 1997 penny is subject to change based on different factors like the market demand and characteristics of the coin. For this reason, it’s always best to have your coins appraised by a professional grading service to know their actual value.
While the penny may be the lowest denomination of the US currency, it remains a very familiar and iconic symbol that cannot just be eliminated. Although, there have been some rumors as to putting an end to the production of pennies because their production cost is high and it also has a really low value.
I have got a1997 D penny looking for the market