Got an old 1989 Lincoln penny in your coin jar? Take it out and clean it because this small cent can earn you a fortune worth up to $4,000! Find all the key features, including rare errors and mint marks, that will decide whether your 1989 penny is worth the big bucks or not!
Identifying a 1989 Lincoln Memorial Cent (Design & Features)
To spot an authentic 1989 Lincoln Memorial penny and avoid counterfeits, you must verify its design elements as well as its composition, weight, and size.
1989 Lincoln Penny Obverse:
- A right-facing portrait of Abraham Lincoln, the 16th President of the States
- The minting year ‘1989’ on the lower right side
- ‘IN GOD WE TRUST’ on the top
- ‘LIBERTY’ in compact kerning to Lincoln’s left
- The mint mark “D” or “S” (if present) below the mint date
1989 Lincoln Penny Reverse:
- The image of the Lincoln Memorial (Washington, DC) with 12 columns, steps, and plinth
- ‘UNITED STATES OF AMERICA’ on the top along the edge
- The national US motto, ‘E PLURIBUS UNUM,’ above the hall
- The denomination ‘ONE CENT,’ at the bottom
- Initials “FG” to the right of the staircase
1989 Lincoln Cent Composition, Weight & Size
The 1989 Lincoln cent followed the new copper-plated zinc composition with a new weight and dimensions given below:
| 1989 Lincoln Penny | Key Features & Facts |
| Material Composition | Copper-plated Zinc (97.5% Zinc & 2.5% Copper) |
| Minting Location | Philadelphia, Denver, San Francisco |
| Minting Year | 1989 |
| 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 | 12,610,222,305 coins |
4 Key Factors to Assess a 1989 Lincoln Penny Value
You can find your 1989 Lincoln penny’s value by analyzing the following four factors:
1. Coin Grades and Color
The most important factor influencing a 1989 Lincoln Memorial penny is its condition, which is assessed on a Sheldon Scale from Poor-1 to Mint State-70.
Circulated grades through About Uncirculated-58 typically trade for a face value of $0.25, while uncirculated 1989 pennies can sell for $2 to $500 in MS60 to MS68, with one rare 1989 penny worth $4,110 sold at Heritage Auctions as per PCGS.
The color of Lincoln pennies also plays a crucial role in determining value. The average value of the three main color designations are:
- Red (RD) pennies with at least 95% of the original red color: A Red 1989 Lincoln cent can typically bring $5-$4,000 or more in high grades, like MS69.
- Red-Brown (RB) coins with 5% to 94% original red color: The Red-Brown 1989 pennies sell for about half the price of full red coins in the same grade.
- Brown (BN) pennies with less than 5% original color: Though most common, Brown 1989 pennies still hold premium value in high grades, with MS-65BN pieces worth $3-$5.
2. 1989 Lincoln Penny Mint Marks
The mint mark found on a 1989 Lincoln cent struck at different locations in different quantities greatly impacts its value!
1989 No Mint Mark Penny (Mintage – 7,261,535,000)
Being the most common variety, a 1989 no mint mark penny fetches an average value of $100 to $500 or more in high grades. The estimated price range of a 1989 no-mint mark penny in the mint state is as follows:
- MS60-MS64: $2-$5
- MS65-MS65+: $5-$10
- MS66-MS66+: $7-$15
- MS67-MS67+: $15-$35
- MS68: $100-$570
1989 D Lincoln Penny (Mintage – 5,345,467,111)
The Denver-minted 1989 Lincoln penny has the second-lowest mintage and an average price range as follows:
- MS60-MS64: $2-$5
- MS65-MS65+: $3-$10
- MS66-MS66+: $7-$18
- MS67-MS67+: $15-$35
- MS68-MS68+: $90-$380+
- MS69: $1,000+
1989 S Penny Proof (Mintage – 3,220,194)
The San Francisco Mint only produced over 3.2 million proof pennies with S mint mark. A proof penny, especially with a Deep Cameo (a sharp contrast between raised devices and fields) finish, is worth more than standard coins.
- PR67-PR67+: $3-$7
- PR68-PR68+: $7-$12
- PR69: $10-$25
- PR70: $50-$180
3. 1989 Lincoln Penny Errors
Spot the following minting errors on your 1989 penny for extraordinary value:
Struck on Pre-1983 3.1 Gram Planchet
How It Occurs: This rare coin is produced when a 1989 penny design in struck on a Pre-1983 copper blank weighing 3.1 grams instead of a copper-plated zinc planchet of 2.5 grams.
Average Price: This rare error penny can bring premium prices ranging from $5,000 to $7,000. The most expensive 1989 penny struck on a Pre-1983 copper planchet sold for a whopping $7,500 on Heritage Auctions!
Unplated Planchet Error
How It Occurs: This error happens when a zinc core of the 1989 penny is not plated with copper. This rare penny appears silver instead of red.
Average Value: An unplated 1989 Lincoln penny typically sells for $50-$200 depending on condition, like this MS64 coin which was bought for almost $60 on Heritage Auctions!
Struck on 1988 Dime
How It Occurs: One of the most valuable errors, this one occurs when a penny design is mistakenly struck on a previously minted dime planchet.
Average Value: A rare 1989 penny struck on a 1988 dime can bring $2,000 or more in mint state, like this rare MS65 example sold for $2,530 on Heritage Auctions!
Off-center Strike Error
How It Occurs: When a 1989 penny blank is misaligned in the dies, the result is an off-center error with a part of the design missing.
Average Price: The value of an off-center 1989 penny varies based on the percentage off-center. For example, a 1989 penny struck 20% Off Center sold for almost $90, while 50% or more with a visible date can exceed $200.
Obverse Die Breaks
How It Occurs: This error results from broken or cracked dies, creating raised lines or bumps on the coin.
Average Value: Depending on the coin’s condition and the cud or crack’s size, a 1989 penny with die or cud break typically brings $25-$200 depending on size and location. For example, an MS67 Red penny with Obverse Die Break sold for almost $90 on Heritage Auctions!
Double Strike Errors
How It Occurs: When a penny is not ejected from the die after striking once and is struck twice, it results in two distinct impressions of the design.
Average Value: A double-struck 1989 penny can range from $100 to $500 depending on the separation and clarity of the strikes. If the second strike is misaligned, the price can hike more.
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