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

The 1987-S Lincoln Penny is worth anywhere from $0.50 in typical proof condition to over $1,200 for rare, high-grade specimens. While most found in change are common circulated coins, those bearing the “S” mint mark were specially struck for collectors and often carry a premium over their face value.

Condition / Grade	Estimated Market Value
PR 65 Deep Cameo	$1.00 – $3.00
PR 69 Deep Cameo	$10.00 – $15.00
PR 70 Deep Cameo (Perfect)	$50.00 – $1,250.00

History and Production of the 1987-S Lincoln Memorial Cent

If you’ve recently sorted through a collection and found a penny from 1987 with a small “S” under the date, you have found a Proof coin. Unlike the millions of pennies minted in Philadelphia or Denver for daily commerce, the San Francisco Mint produced these coins specifically for coin sets. By using a top coin identifier app, you can quickly verify if your coin is a standard circulation strike or one of the 4,227,728 proof versions minted that year.

In 1987, the United States Mint continued the transition that began in 1982: moving away from 95% copper to a copper-plated zinc composition. This means the 1987-S Lincoln Penny is significantly lighter than older wheat pennies and is more prone to oxidation or “bubbling” underneath the copper plating.

Collectors prize these “S” mint mark coins because they were struck twice with specially polished dies. This process creates a mirror-like background (fields) and frosted foreground (the portrait of Lincoln), a contrast known as “Cameo.” If you aren’t sure how to tell the difference between a shiny regular penny and a true proof, using CoinKnow can help you distinguish the strike type through high-resolution photo comparison.

Understanding the 1987-S Lincoln Cent Value Factors

The value of a 1987-S Lincoln Penny is determined almost entirely by its grade and the quality of its “Deep Cameo” finish. Since these coins were never intended for circulation, most of them remain in “Proof” condition. However, even small scratches or fingerprints can drastically lower the price.

When evaluating your collection, look for the current 1987 Lincoln Penny market pricing for Red (RD) and Proof coins to stay updated on what collectors are paying. A coin graded as PR 69 is very common and might only sell for the price of a cup of coffee. However, a perfect PR 70—essentially a coin with zero microscopic flaws—can command hundreds or even thousands of dollars at auction.

The 1987 issue is particularly difficult to find in a “perfect” state because the copper plating on the zinc core often developed tiny spots or “milk spots” over time. If your coin has perfectly orange-red luster without any dark spots, you might have something valuable. Professional appraisal is recommended for coins that look flawless to the naked eye, as the difference between a $10 coin and a $500 coin is often invisible without a jeweler’s loupe.

Mintage Type	Mint Mark	Auction Record
Philadelphia (Circulation)	None	$3,400 (MS68 RD)
Denver (Circulation)	D	$550 (MS68 RD)
San Francisco (Proof)	S	$1,265 (PR70 DCAM)

Modern Grading for the 1987-S Penny

Grading modern cents like the 1987-S follows a specific numeric scale from 1 to 70. For proof coins, the scale starts at PR (Proof) followed by the number. Because these coins were sold in protective plastic cases by the Mint, most 1987-S pennies found today will grade at least PR 63 or higher.

To get a better idea of your coin’s potential, check the 1987 penny value guide for all mint variations. You will notice that “DCAM” stands for Deep Cameo. This designates a coin where the contrast between the mirror fields and the frosted portrait is extremely sharp. If your 1987-S looks “flat” or just shiny without that frost, its value will be on the lower end of the spectrum.

Many casual collectors use the CoinKnow app to keep an inventory of their finds. It allows you to track the value of your pennies as market prices fluctuate. For the 1987-S, keep an eye on the “Red” color designation. Even though these are zinc-core coins, they are still categorized by their copper exterior’s color: Red (RD), Red-Brown (RB), or Brown (BN). For a proof coin like the 1987-S, it should almost always be a vibrant “Red.”

Rare Errors and Varieties for the 1987 Lincoln Penny

While the 1987-S Proof is the star of the year for many, collectors also hunt for errors within the Philadelphia and Denver strikes. Errors can significantly increase the 1987 penny value beyond its base copper price.

Common errors found during this era include “Doubled Die Observations,” where parts of the date or Liberty appear doubled. There are also “Plating Blisters,” which look like tiny bubbles on the surface. While these might look like errors, they are often considered damage by high-end collectors. True errors, such as coins struck on the wrong metal or those with significant die cracks, are where the real money is found.

If you find a 1987 penny that looks “silver,” it might be a cent that missed the copper-plating process, leaving only the zinc core. These “unplated” cents are highly sought after. Use CoinKnow to photograph any suspicious-looking coins; the community and AI tools can help identify if what you have is a mint error or just environmental damage from being buried in the dirt.

Error Type	Description	Estimated Value
Double Die	Visual doubling on text/date	$25 – $100+
Unplated Zinc Cent	Silver color, no copper coating	$50 – $150
Off-Center Strike	Design is partially missing	$5 – $50

Tips for Selling Your 1987-S Lincoln Cents

If you discover that you have a high-grade 1987-S Lincoln Penny, your next step is deciding how to sell it. For lower-value coins (under $10), selling individually on eBay might not be worth the shipping costs. These are better sold as part of a larger penny collection or kept as a family heirloom.

For coins that appear to be in PR 70 (perfect) condition, professional grading by services like PCGS or NGC is necessary to capture the full market value. A certified grade provides buyers with confidence, allowing you to reach the maximum auction potential.

Always handle your coins by the edges. Even the natural oils on your skin can leave permanent fingerprints on a polished proof coin like the 1987-S, essentially ruining its value for high-end collectors. Consider purchasing archival-safe coin flips or “slabs” to protect your 1987 Lincoln Cents from the humidity and air, which can cause the zinc core to deteriorate.

1987-S Penny Value: Final Verdict

In summary, while the average 1987-S Lincoln Penny in your pocket change isn’t a “get rich quick” item, it remains a beautiful piece of American history. Most examples are worth about 50 cents to $2, representing a nice return for a coin with a face value of one cent.

The real excitement lies in the rare, perfect specimens and the unusual errors found on Denver and Philadelphia strikes. By keeping an eye out for “Red” luster and using modern tools like CoinKnow to identify your finds, you can turn a hobby of checking spare change into a rewarding search for value. Whether you are a seasoned collector or just someone who found an old jar of coins, the 1987 penny is a great entry point into the world of numismatics.

FAQ

Q: Why is there an “S” on my 1987 penny?

A: The “S” signifies that the coin was minted at the San Francisco Mint. These coins were produced as “Proof” strikes for collectors, rather than for general circulation.

Q: Is a 1987 penny made of pure copper?

A: No. Starting in 1982, the U.S. Mint began making pennies out of a zinc core with a thin copper plating. The 1987 penny is only about 2.5% copper.

Q: How can I tell if my 1987-S is a PR 70?

A: A PR 70 coin must be absolutely perfect under 5x magnification. It should have no scratches, spots, or dullness. Most coins found in mixed change will not qualify for this grade.

Q: What is the most expensive 1987 penny ever sold?

A: A 1987-P (no mint mark) penny in MS 68 Red condition sold for over $3,400 at auction. While the “S” proofs are beautiful, the rare high-grade circulation strikes often fetch higher prices due to their scarcity in perfect condition.