1993 Penny Value: How Much Is It Worth Today?
Do you have a 1993 penny in your pocket change and wondering what the 1993 penny value is? If so, you’re in luck! The 1993 penny is a beautiful coin that would be a great one to add to your stash if you are new to coin collecting.
In this blog post, we’ll be exploring the history of the 1993 penny and discussing when and why it has a high value. We’ll also discuss its unique features, some of the rare error coins that are out there, and how to grade them in order to sell. Finally, we’ll talk about some tips for collecting these coins, where to find them, and other frequently asked questions you might have.
So if you’re interested in learning more about the 1993 penny value, keep reading! Let’s dive in.
1993 Penny Value Chart
|Mint Mark||Good||Fine||Extremely Fine||Uncirculated||Proof|
|1993 No Mint Mark Penny Value||/||/||/||$0.34||/|
|1993 D Penny Value||/||/||/||$0.34||/|
|1993 S Penny Value||/||/||/||/||$10|
Value by Mint Mark
The first American penny was created in the late 1700s (1793) by the newly-formed United States government. This penny was made of pure copper and had an image of Lady Liberty with flowing hair on the obverse and a circle of 15 chain links on the reverse, symbolizing the 15 states.
In 1909, the obverse design of Abraham Lincoln was introduced. Since then, the penny has been in circulation with some minor changes over the years.
The most significant change was the composition of the penny after 1982, when the composition became 97.5% zinc and 2.5% copper, which is the metal makeup of the 1993 penny as well. This zinc core reduced the amount of copper used in production, resulting in a coin that was less expensive to produce.
As far as size and weight goes, all pennies from 1993 are 19.05 millimeters in diameter and weigh 2.5 grams. They have a thickness of 1.5 millimeters and a plain edge.
The 1993 pennies were made at three different mints: the Philadelphia Mint, the Denver Mint, and the San Francisco Mint. Each of these mints used a distinct mint mark that indicates where it was made, except for the Philadelphia Mint which used no mint mark this year. The mint mark can also affect the 1993 penny value because of the mintage number and level of rarity of mint state coins from that location.
Now, let’s take a look at the value of the 1993 penny by mint mark and condition:
1993 No Mint Mark Penny Value
As we mentioned earlier, each of the mints used a mint mark except for the Philadelphia Mint. There are certain years in history in which a “P” was punched into a penny, but 1993 was not one of those years.
In 1993, there were 5,684,705,000 pennies produced at this US mint location, and their value increases with higher grades. In “Good” condition, this penny is worth one cent ($0.01), which is the penny’s face value. Coins in “Fine” condition and in “Extremely Fine” condition are also worth face value. However, if you have a 1993 no mint mark penny in “Uncirculated” condition (which is mint state), it can be worth around thirty four cents ($0.34).
One has been found in “Uncirculated” condition that is an extremely high grade sold at an auction for $4,750!
1993 D Penny Value
The 1993 penny with a “D” mint mark was made by the Denver Mint and has a mintage number of 6,426,650,571. As with all other coins in this series, the value increases with higher condition.
A coin in “Good” condition is worth one cent ($0.01), as are coins in “Fine” and “Extremely Fine” condition. The 1993 penny in “Uncirculated” condition can be worth around thirty four cents ($0.34), though, just like the no mint mark penny.
1993 S Penny Value
Finally, the 1993 penny with an “S” mint mark was produced at the San Francisco Mint and had a much lower mintage than its counterparts from Philadelphia and Denver. This penny had a total mintage of 3,394,792 coins. This is because the 1993 pennies from the San Francisco Mint are considered Proof coins.
Proof coins are different from circulated coins in that they are made for collecting purposes, not for circulation. This means that the dies used to make them had extra sharp designs and these coins with special care and treatment to produce a mirror-like image.
The 1993 S proof penny in mint condition is worth an impressive $10! This is of course a whole lot more than the 1993 pennies that were intended for business circulation.
1993 Penny Grading
Grading a penny can be done by assessing its condition and determining its rarity. The coin’s condition is graded on the Sheldon Coin Grading Scale, which ranges from Poor to Uncirculated.
A grade of Poor is assigned to coins that are heavily worn and may have scratches, holes, or obverse and reverse designs that are not fully visible. Coins with a grade of “Good” show signs of wear but retain most of their details.
Coins with a grade of “Fine” will show some light wear but retain most of their details and mint luster, while “Extremely Fine” grade coins will have only slight wear in the highest points of the design. “Uncirculated” coins will appear just like they did when they left the mint – without any signs of wear or tear.
In addition to condition, rarity greatly affects the value of a coin. For example, the 1993 no mint mark penny was produced in large quantities and therefore has a low value compared to other pennies from certain other years. The 1993 S proof penny was produced in much smaller quantities and is thus more rare than other 1993 pennies, making it worth significantly more than those intended for circulation.
Error coins are also worth more than their common counterparts. Error coins are those that were made incorrectly, such as those with doubling or mis-punched mint mark. These coins can be worth hundreds of dollars or even more depending on the rarity and severity of the error.
1993 Penny Error Coin List
There are times when coins are produced incorrectly, and these errors can be extremely valuable. The reason they are valuable is because they are so rare and often one of a kind.
Coin collectors enjoy purchasing error coins from auctions because of the rarity and uniqueness that they offer. Who doesn’t enjoy owning a conversation starter that has a great story behind it and is worth a lot of money?
The following is an explanation of some of the error coins that are associated with the 1993 penny:
1993 Penny – Broadstruck Error
A broadstruck error is when a coin is struck outside of the retaining collar. It often has an uneven rim that is flattened somewhat and lacks full detail in the design. The value of these coins can range, but one sold recently for about $14.
1993 No Mint Mark Penny – Reverse Die Break Error
A reverse die break error occurs when a part of the reverse design is missing due to a crack or break in the die. This will often appear as a large gap or split in the middle of the design. Coins with this type of error can be worth hundreds, depending on how severe and rare it is, plus how great the condition grade is.
One sold at an auction not too long ago for $175.
1993 D Penny – Struck 50% Off Center Error
Another interesting error is an off-center strike error. This happens when the blank planchet that the die strikes is not positioned correctly in the collar, resulting in part of the design being cut off and sometimes it’s even missing entirely. Sometimes but not always, the coin ends up being oblong or at least not entirely circular when this error occurs.
One D mint mark penny from 1993 was found with this error, and it was containing only 50% of the design because of how off-center it was. It had a fairly good condition grade as well. It sold at an auction for over $60.
1993 D Penny – Overstruck on a 1993 D Dime Error
This is an uncommon error that occurs when a coin design is struck over another coin design. In this instance, it was a 1993 D penny design that was struck over a 1993 D dime. The distinctive design of the penny can be seen overtop the dime, making quite a beautiful and rare double-denominated coin.
This coin sold at auction for over $800!
1993 P Penny – Double Struck with Second Strike 80% Off Center Error
This is also a rare error in which a coin is struck twice, with the second strike being off center. The result can be quite spectacular when it happens. In this case, the second strike was 80% off center and the details of both strikes are visible on the coin. It was in great condition too.
This example sold at an auction for $25.
1993 Penny – Obverse Struck Through Capped Die Error
A capped die error happens when a coin is struck when the die that strikes the coin is covered by somethings – oftentimes another coin that had stuck to the die on a previous strike. In this case and in many others’, it created quite the interesting results on the obverse side of a 1993 penny.
This coin sold for $70.
1993 D Penny – Struck with Dime Reverse Error
One error that has been discovered among 1993 pennies is a coin struck with a penny obverse and a dime reverse! This is extremely rare, as only one has been discovered so far. But you just never know when another might surface – you just have to be willing to look for it in your pocket change.
Not only that, but this coin had a mint state condition – it ended up selling at an auction for a whopping $51,000! Can you imagine selling a penny for so much money?
1993 Penny Frequently Asked Questions
Now that you have a better understanding of the different types of errors and rarities associated with 1993 pennies, here are some frequently asked questions people often have regarding these coins.
Are Any 1993 Pennies Valuable?
Most 1993 pennies are not particularly rare or valuable, as they were produced in large quantities for circulation. That said, they can still be worth anywhere from face value to several dollars depending on their condition. They can be worth even more if they are error coins, ranging from hundreds to even thousands of dollars if they were rare enough and have a high enough grade.
What is the Most Valuable 1993 Penny?
One of the most valuable 1993 pennies is the error coin struck with an obverse of a 1993 penny and a reverse of a dime, which sold in an auction for $51,000. However, other varieties such as broadstruck errors and reverse die break errors can also be worth hundreds or more depending on the factors at play.
What Should I Look for When Examining the Value of my 1993 Pennies?
When looking at the potential value of your 1993 pennies, consider the condition grade, rarity and any possible error coins that may be present. Also check to see if there is any doubling or mis-punched mint mark that could indicate it is an error coin. By doing this, you will get a better understanding of the value and potential worth of your 1993 penny.
In conclusion, collecting pennies from 1993 can be a great hobby for those who love to collect unique items that have interesting stories behind them. Although most 1993 pennies are not rare or valuable, there are some that can be worth quite a bit. Error coins, for example, can be worth hundreds or even thousands of dollars if they are in the right condition with the right story behind them.
So keep an eye out for those special coins in your pocket change! Good luck and happy collecting.
Do you have a 1993 penny in your possession? Tell us about it in the comments below.