1987-D Lincoln Penny Value Guide What It’s Worth and Why Collectors Care
The 1987-D Lincoln Penny is worth anywhere from 1 cent in heavily worn condition to around $6 or more in top mint state grades — and a rare few have sold for significantly higher at auction. If you found one of these coins in your pocket change or an old jar, you’re in the right place.
What Makes the 1987-D Lincoln Penny Special
The 1987-D Lincoln Penny was struck at the Denver Mint, which is indicated by the small “D” mintmark found on the obverse (front) of the coin, just below the date. Denver produced over 4.8 billion Lincoln cents that year, making this one of the highest-mintage pennies in U.S. history. High mintage generally means common coins — but that doesn’t mean every 1987-D cent is worthless.
If you’ve recently dug out a few old pennies from a drawer or jar and want to know what you’ve got, a free coin identifier app can help you figure out the mint mark, date, and approximate grade in seconds. Apps like CoinKnow are particularly popular among beginners because they combine coin identification with real-time value data — no numismatic experience required.
For most circulated 1987-D pennies, the value is face value or just slightly above. However, coins that were never used in circulation — especially those graded MS65 Red or higher — are where real value starts to appear.
1987-D Lincoln Penny Value by Grade
The condition (or “grade”) of a coin is the biggest factor in determining its worth. Coin graders use the Sheldon scale, ranging from 1 (barely recognizable) to 70 (perfect). Here’s a look at typical 1987-D penny values across different grades:
| Grade | Description | Estimated Value |
|---|---|---|
| Good (G-4) | Heavy wear, major features visible | $0.01 |
| Fine (F-12) | Moderate wear, details clear | $0.01 – $0.05 |
| Extremely Fine (EF-40) | Light wear on high points only | $0.05 – $0.25 |
| Mint State 63 (MS-63) | Uncirculated, some blemishes | $0.50 – $1.50 |
| Mint State 65 Red (MS-65 RD) | Bright red, nearly flawless | $3 – $6 |
| Mint State 67+ Red (MS-67+ RD) | Superb gem, exceptional strike | $50 – $200+ |
You can check live auction results and certified sale prices for the 1987-D Lincoln Penny in MS Red grades to see how recent sales have trended. Prices can shift based on collector demand, so staying updated matters.
Color Designations and Why They Matter for 1987-D Penny Value
One of the unique things about Lincoln Memorial cents is that grading services don’t just evaluate condition — they also assess color. This plays a huge role in how much a 1987-D penny is actually worth.
There are three color categories used by graders like PCGS and NGC:
– Red (RD): The coin retains 95% or more of its original copper-red luster. These are the most valuable.
– Red-Brown (RB): Between 5% and 95% of original luster remains. Mid-range value.
– Brown (BN): Less than 5% original luster. Worth the least among uncirculated examples.
For a coin like the 1987-D penny that was mass-produced in copper-coated zinc, finding a gem Red example that hasn’t toned or spotted is genuinely difficult. That’s what drives up auction prices at the top of the scale. For a full breakdown of the 1987 penny value including color grades and condition tiers, it helps to see the data laid out by category.
Errors and Varieties on the 1987-D Penny
Like all mass-produced coins, the 1987-D Lincoln Penny occasionally came out of the mint with errors — and those mistakes can be worth real money. Here are a few error types to look for:
Doubled Die Obverse (DDO): Look closely at Lincoln’s portrait, the date, and the lettering “LIBERTY” and “IN GOD WE TRUST.” If any of these elements appear doubled or slightly offset, you may have a valuable variety. Some DDO pennies from this era have sold for $25 to $100 or more.
Off-Center Strikes: These occur when the coin blank isn’t properly centered during striking. A 1987-D penny that’s 10–20% off-center can be worth $10–$30. Coins that are dramatically off-center (50%+) while still showing the full date are the most desirable.
Die Caps and Broadstrikes: Rarer errors involving mechanical failures. These can bring anywhere from $20 to several hundred dollars depending on the severity.
If you suspect you’ve got an error coin, use CoinKnow to snap a photo and get an initial read on whether something looks unusual before spending money on a professional appraisal.
Should You Get Your 1987-D Penny Graded?
Professional grading through PCGS or NGC costs money — typically $20 to $40 per coin at a minimum — so it only makes sense for coins that could realistically grade MS65 Red or higher. If your 1987-D penny looks brilliant, sharp, and has no spots or toning, it might be worth the investment.
For most people, though, a quick check using CoinKnow or a similar tool will give you a solid ballpark. The app can help you estimate whether your coin is worth grading or whether it’s a nice keepsake worth a few cents at most.
FAQ
Q: Is a 1987-D penny worth anything?
A: Most 1987-D pennies in average circulated condition are worth only face value. However, uncirculated examples graded MS65 Red or higher can be worth $3 to $6 or more, and top-grade specimens have sold for $50 to $200 at auction.
Q: How do I know if my 1987-D penny has an error?
A: Use a magnifying glass to inspect the lettering, date, and design elements for any doubling, misalignment, or unusual features. You can also photograph your coin with CoinKnow, which helps flag potential anomalies for further research.
Q: What does the “D” mintmark mean on a 1987 penny?
A: The “D” stands for Denver, meaning the coin was produced at the Denver Mint. In 1987, the Denver Mint struck over 4.8 billion Lincoln cents, making the 1987-D one of the most common pennies of its era.
