Imagine holding a small cent worth hundreds or even thousands of dollars. While most 1987 Lincoln Memorial Pennies are worth their face value, some rare examples can fetch eye-popping prices of up to $12,000! If you want to know whether your 1987 penny is worth a fortune, find out what features to look for in this value guide!
Identifying a Real 1987 Lincoln Memorial Penny
Before you begin assessing your old 1987 Lincoln Memorial cent value, verify its design details on both sides (front and back) and its physical characteristics, like weight, color, composition, and size.
1987 Lincoln Penny Obverse:
- A right-facing portrait of Abraham Lincoln, the 16th President of the States
- ‘IN GOD WE TRUST’ on the top
- ‘LIBERTY’ in compact kerning to Lincoln’s left
- The mint date ‘1987’ on Lincoln’s right
- The mint mark “D” or “S” (if present) below the mint date
1987 Lincoln Penny Reverse
- The image of the Lincoln Memorial with 12 columns, steps, and plinth
- ‘UNITED STATES OF AMERICA’ on the top along the edge
- ‘E PLURIBUS UNUM,’ above the hall
- The denomination ‘ONE CENT,’ at the bottom
- Initials “FG” to the right of the staircase
1987 Lincoln Penny Composition, Weight & More
The 1987 Lincoln Memorial Cent followed the modern clad composition and dimensions as given below:
| 1987 Lincoln Penny | Key Features & Facts |
| Material Composition | Copper-plated Zinc (97.5% Zinc & 2.5% Copper) |
| Minting Location | Philadelphia, Denver, San Francisco |
| Minting Year | 1987 |
| Face Value | 1 cent ($0.01) |
| Weight | 2.5 grams |
| Diameter | 19 mm |
| Thickness | 1.55mm |
| Designer | Victor D. Brenner (Obverse), Frank Gasparro (Reverse) |
| Mint Marks | ‘D,’ ‘S’ and No mint mark |
| Total Mintage | 9,566,084,173 coins |
How to Find a 1987 Lincoln Penny Value (3 Key Factors)
While a circulated 1987 Lincoln Memorial cent is only worth its face value, uncirculated pennies can fetch up to a few thousand dollars today based on factors, like condition, mint marks, and mint errors!
1. Coin Grades and Colors
The value of an old 1987 Lincoln cent largely depends on its condition, which is assessed in grades, and color designations. The coin grading scale ranges from P-1 (Poor) to MS-70 (Mint State), in which higher grades means excellent condition.
Generally, a 1987 Lincoln Memorial penny is worth a few cents in average condition and $3 to $2,000 or more in high-grade mint condition.
As for the colors, there are three main designations: Red (with at least 95% original color), Red-Brown (with 5-95% original color), and Brown (with less than 5% original color).
Among these, Red 1987 Lincoln pennies are worth the most, often reaching up to $1,000 or more in high grades. On the other hand, Red-Brown and Brown 1987 pennies are typically worth $5 to $100 in mint state.
2. 1987 Lincoln Penny Mint Marks
The United States Mint produced a total of ___ 1987 Lincoln cents at three different facilities, with different mint marks and quantities.
1987 No Mint Mark Penny (Mintage – 4,682,466,931)
The 1987 no mint mark penny was produced at the Philadelphia Mint with a mintage surpassing 4.6 billion coins, making them quite common. The most valuable 1987 no mint mark penny was sold on eBay for $1,280 in October 2024!
The average values of a 1987 No mint mark Lincoln cent are as follows:
- MS-65RD: $5-$10
- MS-66RD: $9-$15
- MS-67RD: $15-$35
- MS-68RD: $60-$250
- MS-69RD: $870+
1987 D Lincoln Penny (Mintage – 4,879,389,514)
The Denver Mint produced slightly more pennies in 1987, making them even more common. The average value of a 1987 D penny is similar to that of a 1987 no mint mark penny, but one rare MS69RD example once sold for a mind-blowing price of $12,000 on eBay as per PCGS!
Here are the typical average values of a 1987 D Lincoln cent:
- MS-65RD: $5-$7
- MS-66RD: $7-$13
- MS-67RD: $10-$40
- MS-68RD: $70-$220
- MS-69RD: $570+
1987 S Lincoln Penny Proof (Mintage – 4,227,728)
The San Francisco Mint only produced proof pennies in 1987, identified by the S mint mark and unique reflective surface.
The 1987-proof pennies are mostly found in the Deep Cameo variety (a really strong contrast between the mirrored fields and raised devices), which can reach up to $2,000 in high grades.
The estimated price of a 1987 S penny proof in Deep or Ultra Cameo finish is:
- PR65-PR66: Around $1
- PR-67: $2-$5
- PR-68: $5-$7
- PR-69: $7-$15
- PR-70: $100-$220
3. Rare 1987 Lincoln Penny Mint Errors
The last factor to impact your 1987 Lincoln Cent is minting errors or flaws that occur during the minting/production process. Here are some valuable 1987 penny errors to look for:
Off-Center Strike
This error happens when a 1987 penny blank is misplaced inside the die and misses a part of the design from the coin. These misalignment errors can fetch $50 to $500, depending on the degree of error and the coin’s overall condition.
For example, an MS64 1987 penny with a 40% off-center strike was bought for almost $90 on Heritage Auctions. High-grade examples with dramatic off-centers can fetch more.
Struck on Unplated Planchet
This is a rare penny error in which the coin was struck without its copper coating. The coating can be missing partially or completely, and you can spot it by its complete or partial silvery color.
Based on the coin’s condition, a 1987 penny with an unplated planchet can be worth $20 to $150, like this MS63 80% Unplated Planchet example sold for $97 on Heritage Auctions!
Doubled Die On Date
A rare mint error where the date “1987” on the Lincoln penny appears to have a slight duplication! This error can increase your 1987 penny’s value from $50 to several hundred dollars.
Re-Punched Mint Mark
A re-punched mint mark happens when the mint mark is struck multiple times, often at a slightly different angle, causing a visible doubling. A 1987 penny with re-punched mint mark can fetch $20 to $150 depending on the coin’s condition and doubling’s visibility.
