If you find a 1977 penny in your collection, think twice before ignoring it. These pennies can be more than trivial change. A 1977 penny is a part of the Lincoln pennies minted between 1959 and 2008. A lot of them are still in circulation. The 1977 penny value depends on multiple factors, such as the mint it was produced at, the errors it carries, and its condition. If you are lucky, the penny in your collection may give you thousands of dollars!
The 1977 penny is a part of the Lincoln Memorial pennies minted from 1959 to 2008. The US Mint produced them in Philadelphia, Denver, and San Francisco. You can find the pennies produced for circulation and proof coins made especially for collectors.
A 1977 penny is made of a copper alloy containing tin or zinc. The amount of copper in the alloy determines every penny’s color. Typically, these coins are red or brown. Each coin’s diameter is 19 mm and its weight is 3.11 grams. An authentic 1977 penny should be 1.52 mm thick.
The US Mint circulated the first-ever Lincoln penny in 1909, commemorating Abraham Lincoln’s 100th birth anniversary. Popular engraver and designer Victor D. Brenner designed both sides of these pennies.
However, the Lincoln pennies underwent a design change in 1959. This change was announced a year ago to honor Abraham Lincoln’s 150th birth anniversary. Also found in the 1977 penny, this design lasted until 2009.
The 1977 pennies carry an elegant and beautiful design on both sides created by Victor D. Brenner. High design precision and clarity have kept many of these coins in an immaculate state for decades.
The obverse side of a 1977 penny showcases a right-facing portrait of Abraham Lincoln. Above him lies the inscription “IN GOD WE TRUST.” You can see “LIBERTY” engraved on the portrait’s left and the mintage year to its right. Below the year lies the mint mark (if present.) Pennies coming from the Philadelphia Mint carry no mint marks. The designer has added his initials between the coin’s rim and Abraham Lincoln’s shoulder.
The 1977 penny’s reverse showcases the Memorial with the President’s sculpture placed inside. You can see the motto “E PLURIBUS UNUM” above the Memorial. “UNITED STATES OF AMERICA” is visible along the upper edges of the penny. You can also see the designer’s initial on this side, engraved to the Memorial’s right.
The 1977 penny value primarily depends on the Mint it comes from. These pennies were produced at Philadelphia (no mint marks), Denver (D mint mark), and San Francisco (S mint mark).
Let us see the value these pennies coming from different Mints carry.
Here is how much 1977 no mint mark pennies are worth at different grades:
The Denver Mint produced 4,149,063,300 pennies in 1977. Being relatively more exclusive, these pennies can give you a better price than the ones produced at the Philadelphia Mint.
Here is the value of 1977 D pennies carrying different grades:
A rare 1977 D penny graded MS68 was once sold at an auction for a whopping $7,050.
The San Francisco Mint produced only proof coins in 1977. These pennies were minted exclusively for coin collectors.
Here is how much you can get for 1977 S pennies carrying different grades:
The highest grade these pennies can carry is PR70. While you can get $1,000 for such a penny, a 1977 S penny graded PR70 was sold for $7,050 at an auction.
Coins with errors make them exclusive, increasing their inherent value. You can get a good price for your 1977 penny if it contains rare errors.
Here are the most common errors you can find in 1977 pennies:
In 1977, mint marks were manually punched on pennies, increasing the scope for errors. If the mint marks ended up in incorrect places, they were punched again. Pennies with these double-punched mint marks can get you anywhere around $3 to $15.
Unique to the Lincoln pennies, this error includes a raised line between the letters B and E in “LIBERTY.” You can get around $5 to $10 for a 1977 penny with this error.
As the name suggests, this error occurs when a 1977 penny is struck on a dime planchet (blank).
Similar to the error mentioned above, such a situation occurs when a 1977 penny is struck using a Roosevelt dime. It often contains the portraits of Abraham Lincoln and Franklin Roosevelt.
This minting error occurs when the blank is not struck precisely, making one edge wider than the other. The value of these pennies depends on how prominent the error is and how rare it makes the coins.
Before you buy a new penny or sell one from your collection, have a look at the three key factors influencing the 1977 penny value:
Coin collectors and dealers rely on NGC and PCGS, the two most prominent coin grading services to value their coins. These services assign specific grades to 1977 pennies depending on their conditions. From Mint State (MS) to poor, the condition of a coin depends on how precise the design details are and how often it has been circulated. Naturally, the pennies graded high carry a greater value.
Mint marks determine where a 1977 penny was produced. Generally, the Denver and San Francisco Mint pennies carry a greater value than the Philadelphia Mint pennies due to greater exclusivity. However, the penny’s grade also plays an important role in determining its value here.
If your 1977 penny carries a minting error, it automatically becomes a rare coin, thereby increasing its value. From off-center designs to incorrect planchets, many errors make these coins more valuable in the global bullion market.
If you are planning to sell your 1977 penny, you can do so on online marketplaces and auctions. You can also approach reliable online coin dealers to get you the best price for your penny. These professionals will also help you examine your coin and have it graded to confirm its authenticity.
Your 1977 penny can be much more than a trivial change if you have keen eyes. Examine these coins in your collection and see if you can find exclusive assets. If your coin has stood the test of time or carries an error you were unaware of, you can make quite a fortune by selling it with a trusted dealer’s help!
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