1984 Penny Value: How Much Is It Worth Today?
Is the coin you’ve been eyeing for quite some time worth collecting? When it comes to adding something to your collection, it’s important that you know the basics. In this guide, you get a solid understanding of the current 1984 penny value according to its mint mark.
Likewise, we will equip you with knowledge of the errors that were recorded during the production of these coins. So, after reading this article, you become more knowledgeable of the ins and outs of this coin series and easily decide if this is worth to be added to your collection.
1984 Penny Value Chart |
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| Mint Mark | MS 60 | MS 65 | MS 68 | PR 70 |
| 1984 No Mint Mark Penny Value | $0.20 | $1 | $60 | ― |
| 1984 D Penny Value | $0.10 | $0.40 | $160 | ― |
| 1984 S Penny Value | ― | ― | ― | $150 |
1984 No Mint Mark Penny
The Lincoln Penny is considered one of the longest-running US coin series. Commenced in 1909, this one-dollar coin has evolved through the years, altering its design and composition accordingly. It first started with the Wheat cent design, which lasted until 1958.
In 1958, the Lincoln Memorial replaced the original reverse design, and this was used up to 2008. Therefore, the 1984 penny is regarded as a Lincoln Memorial penny that complies with the new composition, which was 97.5% zinc and 2.5% copper.
From 1909 to 1982 (except for 1943), one-cent coins were made out of 95% copper, 2.5% tin, and 2.5% zinc. However, this was modified in 1982 due to the rise in the copper price. Consequently, the zinc and copper combination has been used since then by minting locations, including Philadelphia.
As one of the most renowned US mints in the country, Philadelphia was able to create 8,151,079,000 pieces. Most of these were circulated, hence the reason why the value of these coins isn’t that high. Often than not, the purchase price is the same as the face value, though good condition coins could reach $0.20.
If you have an MS 65, the rate eventually increases to $1. And for MS 68, it may be around $60. Despite its cheaper rate, many still love to collect this coin, especially newbie coin collectors. The obverse design of the 1984 penny is outlined by the original work of Victor Brenner, a famous Lithuanian sculptor.
It features a simple yet striking portrait of Abraham Lincoln that faces right. Right above the image is the famous American motto “IN GOD WE TRUST.” The word “LIBERTY” takes up a section of the left side while the year of minting is placed on the right.
Unlike other minting locations with mint marks, Philadelphia-struck coins only have the above-mentioned designs. Meanwhile, the reverse side of the coin encompasses the design of the Lincoln Memorial, which started in 1958.
The Lincoln Memorial coin commemorates the 150th birth anniversary of the beloved American Leader. Consequently, it highlights the historical monument at the center of the coin. If you look closely, the structural design also entails a small sculpture of Lincoln in between the pillars.
The “UNITED STATES OF AMERICA” bounds the top section while “E PLURIBUS UNUM” settles underneath. Lastly, the “ONE CENT” denomination is engraved below.
All the reverse designs were the work of the 10th US chief engraver, Frank Gasparro. Hence, you’ll see the tiny initials (FG) of the designer on the right side of the Lincoln Memorial.
1984 D Penny
Aside from Philadelphia, Denver also produced a high number of Lincoln Memorial pennies. In total, the city minted 5,569,238,906 pieces, which were widely distributed for public use. Due to the high mintage, these coins are quite easy to obtain in the market. Accordingly, this impacts the value of the 1984 D penny.
Some of these are available on eBay, making it a remarkable choice if you’re still starting your collection. However, for coins that are posted on online platforms, the value is much lower. More so, it might be difficult to check the authenticity of these specimens, which is why auctions are highly recommended.
In the current market, most of the 1984 D pennies are only appraised for less than a dollar. For instance, MS 60 can be purchased for $0.10 while MS 65 $0.40. However, for high-grade coins like MS 68 up, you’d see a significant increase in the price.
MS 68 coins start from $160, which is way higher than the $60 rate of an MS 68 1984 no mint mark penny. Although these coins are abundant in the market, it’s still hard to find coins that have retained their original beauty. Therefore, many coins collectors are fascinated with this series, especially the rare ones.
In fact, some unique pieces are very in-demand. One specific example was during a 2008 auction when a collector paid $4,025 for an MS 68 Lincoln Memorial from Denver. The beautiful coin features its beautiful, original luster and sharp strike, hence an eye-candy for coin connoisseurs.
To differentiate 1984 D pennies from other coins minted in the same year, you simply refer to the mint mark found on the obverse side. The letter “D” is etched below the year 1984. Since there aren’t other indications to separate 1984 D pennies from other coins, always check on this small yet relevant detail.
Why? It’s because the mint mark influences the value in general. So, if you compare them with Philadelphia-minted coins with the same mint state, you can conclude that Denver-struck specimens are valued cheaper.
1984 S Penny
Completing the minting locations of the 1984 pennies is none other than the city of San Francisco. The total number of coins struck was 3,065,110, which is pretty much lower than the other two cities. If you’re a neophyte, you may wonder why San Francisco only produced a limited amount.
Well, for the past decades, San Francisco focused on producing a certain type of coin, and these were proof coins. Unlike standard coins, proof specimens are not intended for circulation. One of the main reasons why these coins are not designed for daily transactions is because of the appearance of the coins.
Proof coins are struck at least twice to create a sharper outline and a shinier surface. Hence, these are technically not meant for public use but for collection. Unfortunately, getting a hold of this item can be a strenuous activity as there are only a couple of millions minted.
To give you an idea, a 1984 S penny with a grade of PR 60 only sells for $0.20. For an MS 64, there’s a very minimal increase of $0.05. Ideally, it’s best that you have a PR 70 so that you’d enjoy a better purchase price. Often, PR 70 coins would be appraised at $150.
Although this is the typical starting rate, it could drastically soar, especially during auctions. In the field of coin collecting, PR 70 is considered the highest grade possible. This means that the coin is characterized by fully struck elements and a lustrous appearance free from any visual marks.
And this was evident during a 2002 auction, where a 1984 S penny with PR 70 grade was purchased for a whopping amount of $1,380. Therefore, it’s very important that you have a thorough grasp of how these coins are valued.
Additionally, it’s highly recommended that you attend auctions. It’s because this can give you better opportunities to maximize the value of your proof specimen. Plus, you get to meet different collectors across the country.
Just like Denver-minted coins, proof specimens from San Francisco also come with mint marks. Instead of the letter D, it uses “S.” You can also find the mint mark on the front side of the coin. Meanwhile, the reverse designs are just the same, containing the Lincoln Memorial and other relevant markings.
1984 Penny Grading
Whether you’re a newbie or an expert in coin collecting, you should know that the grading of coins makes use of different factors. For one, mint marks can positively or negatively influence the value. And for 1984 pennies, coins from Philadelphia are the most valuable, along with San Francisco.
Apart from this, make sure you thoroughly check the condition of the coin. Pieces that are in good or even extremely fine state typically follow the face value. But if you have coins in mint state, then these are well compensated with higher rates. And of course, errors add up to a coin’s value.
1984 Penny Error Lists
Due to the impressive number of one-dollar coins minted in 1984, it’s quite unavoidable to have problems with production. Below are some of the most popular issues recorded during the year:
1. 1984 Penny Double Struck
Because of a double strike error, a portion of the planchet is extended, affecting the percentage of the designs from the center. Generally, these coins can be sold for $140, though some red coins may reach up to $450. Coins with red surfaces appear to be new-looking, hence the better pricing.
2. 1984 Penny Doubled Die Ear
Double die errors are actually some of the most prominent issues when manufacturing billions of coins. Eventually, this occurred for the 1984 pennies. However, the double die problem focused on a certain part of the obverse design, which is the image of Lincoln.
The flaw is located along the ear of the Lincoln portrait. With its unique placement, this is perhaps the most unique 1984 penny error. However, you should be very thorough with the checking of the error as this can be caused by wear and not from the production itself.
To confirm if this was caused by a production mishap and not due to usage, you can double-check other marks on the coins. Most of these coins also have double die marks on the words engraved on the coin. So, try to scrutinize this aspect beforehand to ensure that you’ve got a special piece.
More so, it is believed that the coins with this error had no mint mark. Therefore, these were pieces from the Philadelphia Mint. And to anyone who has this special item, you’d surely be happy with the price.
The base price is around $225, though some could reach for a couple of thousand, perhaps $2,800. In a 2009 auction, an MS 68 1984 penny was sold for more than the normal rate. A collector paid $3,910 for the rare coin.
3. 1984 Penny Cud Die Break
Another recorded error was the cud, which occurs due to die breaks or die cracks. Likewise, this imperfection may be caused by damaged die chips. Most of these errors are located on the rim of the coin, which significantly affects the design. The normal price for a coin with this flaw is around $90.
1984 Penny FAQ
1. Is a penny from 1984 worth anything?
Yes, most especially if you’ve got a rare 1984 penny! The typical value of good-condition pennies is slightly higher than their face value. However, if you’re lucky to have a high-graded coin, then you can definitely confirm that a 1984 penny is worth something.
Much more if there are errors on the coin that are too hard to ignore. Coin errors are surely a determining factor to increase its value.
2. What is a 1984 double ear penny?
During the minting of 1984 pennies, there was one prominent issue that occurred. Some coins had double die issues, which affected the design of the coins. However, the imperfection caused by the production was specific to Lincoln’s ear on the obverse side.
According to experts, approximately 2,000 pieces had this problem. Because of the rarity of the error, coins with this flaw are often called Double ear cents with a usual price of $225. If in high grade, the coin could be valued higher.
3. Are any 1984 pennies copper?
The main elements of 1984 pennies are 97.5% zinc and 2.5% copper. Although there is copper in the content, this is a very small amount compared to coins that were produced in the past, which contain 95% copper, 2.5% tin, and 2.5% zinc.
The reason for the restriction of copper in the composition was due to its increasing price. Therefore, the new composition was introduced to keep up with the economic needs, and this is still used up to the present production of pennies.
