Did you know a single penny from 1981 could be worth over $5,000? That’s right – your pocket change might actually be hiding a fortune! But how would you know which 1981 Lincoln Cent is valuable? Get ready to learn about rare features, like errors and mint marks, that decide whether a 1981 penny could sell for big bucks or not!
Brief History of the 1981 Lincoln Memorial Penny
The Lincoln penny was first introduced in 1909 to celebrate President Abraham Lincoln’s birth’s centennial. By 1981, the coin had undergone several changes, including the major change of reverse design from Victor David Brenner’s wheat stalks to Frank Gasparro’s Lincoln Memorial design in 1959.
Nonetheless, the coin was still popular among Americans. The demand is reflected by the high mintage of over 12.8 billion coins that year. The 1981 Lincoln penny is also quite significant and collectible as it’s one of the last copper pennies before the coin’s composition was changed to copper-plated zinc in 1982.
| 1981 Lincoln Memorial Cent | Key Features & Facts |
| Coin Composition | 95% Copper, 5% Tin and Zinc |
| Minting Location | Philadelphia, Denver, San Francisco |
| Minting Year | 1981 |
| Face Value | 1-cent (0.01$) |
| Weight | 3.11 grams |
| Diameter | 19.05 mm |
| Thickness | 1.52 mm |
| Designer | Victor David Brenner, Frank Gasparro |
| Mint Marks | D – Denver Mint, S – San Francisco Mint, No Mint Mark – Philadelphia Mint |
| Total Mintage | 12,872,906,239 coins |
Identifying a 1981 Lincoln Cent Design & Composition
The first step in assessing a 1981 Lincoln Memorial Penny value is identifying its design on both sides and composition. This is crucial, especially if you’re looking for rare varieties or errors.
1981 Lincoln Penny Obverse:
- A right-facing portrait of Abraham Lincoln
- The word “LIBERTY” inscribed to the left of Lincoln’s portrait
- The motto “IN GOD WE TRUST” above the portrait
- The mint year “1981” at the bottom right
- The designer’s initials, “V.D.B.” (Victor D Brenner), located near Lincoln’s shoulder
1981 Lincoln Penny Reverse:
- Image of the Lincoln Memorial
- “UNITED STATES OF AMERICA” is inscribed at the top
- “E PLURIBUS UNUM” banner across the top of the memorial
- The denomination “ONE CENT” at the bottom
- The reverse designer’s “FG” (Frank Gasparro), on the right side of the stairs
Coin Composition, Size & Dimensions
The 1981 Lincoln penny is composed of bronze alloy with 95% copper and 5% zinc, which gives it a distinctive copper-red color (when new). It weighs approximately 3.11 grams, has a diameter of 19.05 millimeters, and a thickness of 1.52 millimeters. The edge of the coin is plain.
Finding the Value of 1981 Lincoln Penny (4 Key Factors)
The final value of a 1981 Lincoln penny depends on several factors, including mint marks, condition, and any minting errors present. Generally, the penny values around $0.01 to $0.10 in circulated condition, while those with rare characteristics or excellent condition can be worth up to $5,000 or more!
Let’s understand the factors affecting a 1981 penny coin value in detail:
1. Coin Grading and Condition
The condition of a 1981 Lincoln Memorial penny, which is professionally assessed by grades ranging from Poor (P-1) to Mint State (MS-70), greatly influences its value. Here, MS-70 indicated a flawless coin!
1981 Lincoln cents in higher grades, such as MS-67 and above, are more valuable than those in lower grades like (MS-62) or below.
You can assess your 1981 penny’s condition based on the details on the devices (raised designs) like Lincoln’s profile and Memorial, sharpness of the design and letting, and coin luster.
2. Coin Toning & Color
The color of a copper penny changes from red to brown with time due to oxidation and toning, which directly impacts its value. Depending on the amount of discoloration, 1981 Lincoln pennies are categorized into three color designations:
- Red (RD): Pennies with a bright, red color are graded RD and are the most valuable, command higher prices. An uncirculated RD 1981 penny can be worth $5, with high grade coins reaching $200 to $1,000 or more.
- Red-Brown (RB): These 1981 pennies feature a mix of red and brown patches. They are less valuable than RD cents and often fetch around $2 to $3 in low grades and around $5 – $20 in higher grades.
- Brown (BN): BN graded cents are entirely brown and are worth the least, around only a few cents. However, these coins may occasionally fetch higher prices in exceptionally high grades or with rare errors.
3. Mint Marks & Mintage
The 1981 Lincoln penny was minted at three locations, each with distinct mintage figures and mint marks, which directly influenced the value. Here’s a quick breakdown of 1981 pennies with different mint marks:
1981 No Mint Mark Penny (Mintage – 7,491,750,000)
1981 Lincoln Pennies with no mint mark were produced at the Philadelphia Mint with a mintage of over 7.4 billion. The average value of a 1981 penny no mint mark in the circulated condition is around $0.01, while uncirculated examples fetch from $5 to a few thousand. For example, an MS-67+ RD example sold for over $1,000 on Heritage Auctions!
1981 D Lincoln Penny (Mintage – 5,373,235,677)
The Denver Mint produced over 5.1 billion 1981 pennies, identified by the “D” mint mark. Due to high mintage, these pennies are also worth about $0.01 in average condition and $2 to $15 in mint state, with higher grades worth $150 to $5,000 more, like this MS-67+ 1981 d penny that sold for an auction record price of $5,170 on Heritage Auctions!
I’ve prepared a quick 1981 Lincoln Penny value chart based on common mint marks and grades.
| Coin Grades | Condition Details | 1981 No Mint Mark Penny Value | 1981 D Penny Value |
| Poor (0) to Extremely Fine (XF45) | Significant wear, faded but visible details | Face Value | Face Value |
| Almost Uncirculated (AU50) to Mint State (AU58+) | Slight wear on highest points, visible marks or blemishes | 20 cents to 50 cents | 10 cents to 30 cents |
| Mint State (MS60 – MS64) | Uncirculated with minimal wear | $1 – $5 | $1 – $6 |
| Mint State (MS65 – MS66+) | Nearly flawless with very minor imperfections | $5 – $40 | $5 – $35 |
| Mint State (MS67 – MS67+) | Well-preserved with no major flaws | $60 – $1,200+ | $100 – $5,000+ |
| Mint State (MS68 or Above) | Nearly perfect, luster, no major marks or flaws | N/A | N/A |
1981 S Proof Penny (Mintage – 7,920,562)
The United States Mint produced around 7.9 billion proof 1981 Lincoln pennies for collectors at the San Francisco Mint. These coins feature a high-quality mirror-like surface with sharp details, which influences their value.
These coins are generally worth more than standard 1981 pennies, with values ranging from $5 to $10, depending on their grades. Some coins may also feature a high contrast between the devices and reflective fields, also known as Deep Cameo (DCAM), which is worth a few thousand dollars in high PR grades.
For example, a highest-grade PR-70 example 1981 DCAM penny sold for a staggering price of $8,050 on Heritage Auctions!
In addition, there were two types of 1981 proof pennies produced in 1981:
- 1981 S Proof Penny (Type I): This TYPE I proof variety is identified by a bulbous, filled “S” mintmark. The value of a DCAM 1981 S Type I proof cent can range from a few hundred to $4,000 or more.
- 1981 S Proof Penny (Type II): The Type II proof variety features a sharp, clear “S” mint mark. This proof coin can be more valuable in higher grades.
4. Valuable Mint Errors of 1981 Lincoln Penny
Minting errors during the striking process can also enhance the value of a 1981 Lincoln penny. Look for the following rare errors:
Double Die Error (DDO & DDR)
This error occurs when the die is misaligned during hubbing process, resulting in a doubling effect on the design, which is transferred to the 1981 penny. Look for doubling in lettering on the obverse and reverse to spot this error. ‘
A 1981 DDO penny can be worth hundreds of dollars; the more prominent the doubling and better the condition, the more valuable the coin!
Clipped Planchet (Curved Clip)
A 1981 Penny clipped planchet is produced when the metal blank is misaligned in the die causing part of the design to get cut off. These errors can be worth $50 to $300 or more, depending on the severity of the clip and the coin’s condition.
Struck on Type One 10C Planchet
This rare coin is the result of a 1981 penny being struck on a Type I clad dime planchet. Apart from a different composition and gray color, the cent weighs less than a regular penny and has softer edges. Depending on condition, this coin can sell for a few hundred dollars, like this MS64 example that sold for almost $300 in a coin auction!
Repunched Mintmark (RPM):
A 1981 Lincoln Penny RPM has the mintmark struck multiple times on it, creating a blurry or doubled appearance. Depending on how prominent the doubling of mint mark is, a 1981 RPM penny can be valued around $3 to $15 to more.
Apart from this, you may also find common errors, such as a die break or cud error, broad strike error, and double struck errors, which can also make a common 1981 penny worth a reasonable price.
Remember, most 1981 Lincoln cents are worth their face value unless they are in extremely good condition or have rare flaws that collectors hunt for. So, make sure to find such rare features on your 1981 penny to assess its real worth!
