The 1987-D Lincoln Penny is worth anywhere from $0.01 in circulated condition to over $1,500 for high-grade specimens. While most pennies found in change today are only worth their face value, coins with exceptional luster or rare minting errors can be a hidden treasure for everyday collectors.
| Condition / Grade | Estimated Value |
|---|---|
| Circulated (F-AU) | $0.01 – $0.05 |
| Mint State 63 RD | $0.10 – $0.50 |
| Mint State 65 RD | $1.00 – $5.00 |
| Mint State 67 RD | $15 – $45 |
| Mint State 68+ RD | $400 – $1,500+ |
Understanding the 1987-D Lincoln Penny History
If you’ve been looking through your pocket change and spotted a 1987 penny with a small “D” under the date, you are holding a piece of American history minted in Denver. To determine if your find is a rarity, many beginners use the best coin identifier app to quickly distinguish between common copper-plated zinc cents and those that might fetch a premium.
In 1987, the United States Mint produced billions of Lincoln Memorial pennies. The Denver Mint alone struck over 4.1 billion units. Because the mintage numbers were so high, the vast majority of these coins are still in circulation today.
However, “common” does not always mean “worthless.” Collectors look for specific attributes like “Full Red” (RD) color and a lack of contact marks. If you find a penny that looks like it just stepped out of the mint, you might want to use CoinHix to check its potential market demand.
How to Identify a 1987-D Lincoln Penny
The 1987-D penny is a copper-plated zinc coin. Before 1982, pennies were made of 95% copper, but due to rising metal costs, the Mint transitioned to a zinc core with a thin copper wash. This makes the 1987-D lighter than older Wheat Pennies, weighing exactly 2.5 grams.
The “D” mint mark signifies it was produced at the Denver Mint. You will find this mark directly below the year “1987” on the obverse (front) of the coin. The reverse features the classic Lincoln Memorial design by Frank Gasparro, which was used from 1959 until 2008.
While most are brown and worn, the 1987-D Lincoln Penny price data shows that specimens retaining their original “Red” luster are the ones that actually hold value for serious numismatists.
Condition and Grading: Why It Matters
When it comes to the 1987-D Lincoln Penny value, condition is everything. Coins are graded on a scale from 1 to 70. A coin graded MS60 (Mint State 60) will be worth much less than one graded MS68. Because billions were made, only those in nearly perfect condition are considered rare.
If your penny has scratches, “zinc rot” (small black bubbles or pits), or looks dull and brown, it is likely only worth one cent. However, if it has a sharp strike and no visible scratches under a magnifying glass, you should take a closer look.
Using CoinHix can help you compare your coin against high-resolution photos of graded specimens. This allows you to estimate if your coin is worth the cost of professional grading by services like PCGS or NGC.
| Color Designation | Description | Collector Interest |
|---|---|---|
| Red (RD) | At least 95% original mint orange-red color. | High |
| Red-Brown (RB) | Between 5% and 95% original red color remaining. | Moderate |
| Brown (BN) | Less than 5% original red color; looks chocolate brown. | Low |
Rare 1987-D Penny Errors to Look For
Error coins are the “holy grail” for many casual hunters. Even though the 1987-D is common, certain minting mistakes can drive the price up significantly. Common errors for this era include doubled dies, off-center strikes, and die cracks.
A “Doubled Die” occurs when the hub strikes the die twice at slightly different angles, creating a blurry or doubled appearance on the letters or numbers. While there isn’t a major legendary doubled die for 1987 like there is for 1955 or 1972, minor doubling on the ear or the letters of “LIBERTY” can still add value.
Another common error is the “Repunched Mint Mark” (RPM). Since mint marks were still hand-punched into dies in 1987, you might find a “D” that looks like it was stamped twice. Always keep an eye out for these anomalies as they can turn a boring penny into a $20 or $50 find.
Current Market Trends for 1987 Pennies
The market for modern Lincoln cents has seen a surge in recent years. Younger collectors are moving toward “Registry Sets,” where they try to find the highest-graded example of every single year. This demand drives the price of “pop-top” coins (the highest known grades) to staggering levels.
For instance, while a standard 1987-D in MS65 might sell for a few dollars, an MS68 Red specimen is incredibly rare because zinc pennies from the late 80s were prone to corrosion and plating bubbles. Finding a perfect survived coin is like finding a needle in a haystack.
To stay updated on what collectors are paying right now, you can consult current 1987-D penny value information, which reflects recent auction sales and private treaty prices.
| Auction Date | Grade | Final Sale Price |
|---|---|---|
| 2023 Auction | MS68 RD | $576 |
| 2019 Auction | MS68+ RD | $1,450 |
| 2022 Private Sale | MS67 RD | $40 |
How to Store and Protect Your 1987-D Pennies
If you believe you have found a high-value 1987-D penny, you must protect it immediately. Because these coins are made of zinc, they are highly susceptible to “environmental damage.” Even the oils from your skin can cause permanent fingerprints that lower the grade of the coin.
We recommend using PVC-free coin flips or plastic capsules. Never clean your coins! Cleaning a coin with chemicals or even a soft cloth can leave micro-scratches that professional graders at PCGS will easily spot, potentially ruining the coin’s value.
For those just getting started, apps like CoinHix are excellent tools for organizing your collection and tracking which coins are worth the extra effort of protective storage.
FAQs regarding the 1987-D Lincoln Penny
Q: Is there a 1987-D penny made of solid copper?
A: No. All 1987 pennies were officially struck on copper-plated zinc planchets. While rare transitional errors can happen in other years, there are no confirmed 1987 pennies made of solid copper.
Q: Why is my 1987-D penny turning black or having bubbles?
A: This is known as “zinc rot.” When the thin copper plating is breached, the zinc core reacts with oxygen and moisture. Unfortunately, this is a form of corrosion and significantly decreases the coin’s value to collectors.
Q: I found a 1987 penny with no mint mark. Is it rare?
A: A 1987 penny with no mint mark was produced at the Philadelphia Mint. These are just as common as the Denver (D) versions and follow the same general value guidelines based on condition.
Q: What is the highest price ever paid for a 1987-D penny?
A: The record for a 1987-D penny stands at over $1,400 for a specimen graded MS68+ Red. Coins in this condition are almost perfect with zero visible flaws even under magnification.