1987-S Lincoln Penny Value: How Much Is Your Proof Coin Worth?

The 1987-S Lincoln Penny is worth anywhere from $1 in typical proof condition to over $50 for high-grade specimens. While these coins were not released into general circulation, many Americans find them in inherited collections or old proof sets and wonder if they have struck copper gold.

Condition / Grade	Estimated Value
PR 65 RD (Standard Proof)	$1.00 – $3.00
PR 68 DCAM (Deep Cameo)	$5.00 – $10.00
PR 69 DCAM	$15.00 – $25.00
PR 70 DCAM (Perfect Specimen)	$150.00+

What Exactly is the 1987-S Lincoln Memorial Penny?

If you’ve discovered a shiny penny with an “S” mint mark under the date, you are looking at a San Francisco minted coin. Unlike the millions of pennies minted in Philadelphia or Denver for daily spending, the 1987-S was produced specifically for collectors. These are known as “Proof” coins, which are struck using specially polished dies and planchets.

To determine if your find is a true rarity or just a common collectible, using a top coin identifier and value app is the best first step. Most often, these coins were sold as part of the 1987 United States Mint Proof Set. Over the years, many of these sets have been broken apart, leading the individual pennies to end up in drawers or hobbyists’ albums.

Because they were never meant for circulation, finding a 1987-S in your pocket change is rare, but not impossible. If it looks significantly shinier than other pennies—almost like a mirror—it is likely an “S” mint proof. The CoinKnow app can help you verify the luster and strike quality to see where your coin falls on the grading scale.

Understanding the Value of San Francisco Mint Proofs

The value of the 1987-S Lincoln Penny depends almost entirely on its “eye appeal” and technical grade. In the world of numismatics, we use a scale from 1 to 70. Since these were handled with care at the mint, most fall into the PR 67 to PR 69 range. A “Deep Cameo” (DCAM) finish, where the frostiness of Lincoln’s portrait contrasts sharply with the mirror-like background, is highly desired.

Current market trends show that 1987-S penny pricing for high-grade specimens can fluctuate based on auction demand. Most collectors are looking for that elusive PR 70 grade, which signifies a perfect coin under 5x magnification.

Designation	Visual Characteristics	Average Market Price
Proof (RD)	Standard red copper shine, mirror surfaces.	$0.50 – $2.00
Cameo (CAM)	Light frosting on the portrait and lettering.	$3.00 – $8.00
Deep Cameo (DCAM)	Heavy, thick frost with deep black-mirror fields.	$10.00 – $250.00

The Role of Metal Composition in 1987 Penny Values

By 1987, the U.S. Mint had long since moved away from the 95% copper alloy used in the early Wheat pennies. The 1987-S Lincoln Penny is composed of a core of 99.2% zinc and 0.8% copper, with a pure copper plating. This makes the total composition roughly 97.5% zinc and 2.5% copper.

This change in 1982 was intended to save money as copper prices rose. However, zinc pennies are prone to “zinc rot” or bubbling under the plating if they are exposed to moisture. Because proofs are usually kept in protective plastic cases, they tend to stay in better condition than their business-strike cousins from Philadelphia or Denver.

If you are trying to find more information on 1987 Lincoln Penny worth, you must check for these spots or bubbles. Even a tiny black spot on the face of Lincoln can drop the value from a premium price to just a few cents. Keeping your coins in a cool, dry place is essential for maintaining their worth over the decades.

Identifying Rare 1987-S Mint Errors

While the San Francisco Mint has very high quality-control standards, errors can occasionally slip through. Errors on proof coins are significantly more valuable than errors on regular pennies because they are so rare. Common things to look for include “doubled dies” or “repunched mint marks.”

A doubled die error occurs when the hub strikes the die multiple times at slightly different angles. On a 1987-S, look closely at the “In God We Trust” motto or the date. If you see clear doubling of the letters or numbers, you might have a coin worth hundreds of dollars.

Before you get too excited, remember that many “doubles” people find are actually “machine doubling,” which is a common manufacturing hiccup that doesn’t add value. Tools like CoinKnow provide high-resolution references to help you distinguish between a genuine mint error and mechanical doubling.

The “S” Mint Mark: History and Rarity

The San Francisco Mint (S) has a storied history, often associated with lower mintage numbers and higher quality. In 1987, they produced approximately 4,227,728 proof pennies. While four million might sound like a lot, it is a tiny fraction compared to the billions produced for circulation that same year.

This scarcity is why the 1987-S typically holds its value better than a random 1987 penny from your pocket. Collectors often try to complete “date and mint” sets, and the “S” pennies are the final pieces needed for the late 80s collection.

Mint Location	Mintage Total	Purpose
Philadelphia (No Mint Mark)	4,682,466,931	General Circulation
Denver (D)	4,839,255,248	General Circulation
San Francisco (S)	4,227,728	Collector Proof Sets

Is It Worth Getting Your 1987-S Penny Professionally Graded?

One of the most common questions is whether to send a penny to professional grading services like PCGS or NGC. Since the cost of grading can be $30 to $50 per coin, it only makes financial sense if the coin is likely to grade at PR 70 DCAM.

A 1987-S in PR 69 is generally worth $15 to $20, which wouldn’t cover the grading fees. However, should your coin be a perfect PR 70, it could sell for $150 or more at auction. Check your coin under a magnifying glass; if you see even one tiny scratch or a “milk spot,” it is best to keep it in a raw (ungraded) state.

Using the CoinKnow app can help you “pre-grade” your items by comparing your coin’s image to a database of graded examples. This simple step can save you a lot of money and disappointment when dealing with late 20th-century proof coinage.

How to Sell Your 1987-S Lincoln Penny

If you’ve decided to sell your collection, you have a few options. Local coin shops are the fastest route, but they usually pay wholesale prices (around 50-60% of the book value). If you have a high-grade 1987-S, online marketplaces like eBay are often better because they connect you directly with collectors.

When listing online, always use high-quality photos that show the mirror surface and the cameo contrast. Buyers of 1987-S pennies are specifically looking for “eye appeal,” so clear photography is your best marketing tool. Mention the “S” mint mark and the condition clearly in your title.

Finally, keep an eye on historical auction prices. While most 1987nd pennies are common, rare varieties and perfect proofs always find a buyer in the numismatic community. Whether yours is a $1 keepsake or a $200 treasure, it’s a piece of American history worth holding onto.

FAQ

Q: Why does my 1987 penny have no mint mark?

A: If there is no letter under the date, your penny was minted in Philadelphia. These represent the bulk of the 1987 production and are generally only worth their face value of one cent unless they are in pristine, uncirculated condition.

Q: Can I find a 1987-S penny in my pocket change?

A: While rare, it does happen. These are usually “impaired proofs,” meaning they were removed from a proof set and spent like regular money. Once they enter circulation, they lose most of their collector value but are still a cool find!

Q: What makes the 1987-S “Deep Cameo” so special?

A: A Deep Cameo (DCAM) finish features a heavy frost on the raised parts of the design (Lincoln’s portrait and the building) against a background that looks like a black mirror. It is the most aesthetically pleasing and valuable version of the proof penny.

Q: Is there a 1987-S Silver Penny?

A: No, the 1987-S is made of copper-plated zinc. If you find a “silver” colored 1987 penny, it is likely either plated by someone after it left the mint or it was struck on an unplated zinc planchet (a rare error).