Tell us which US coin has a large mintage volume as a penny coin, and we’ll wait. Now, you all know that a large mintage volume means low value, but that isn’t always the case. From time to time, certain types of coin became so popular and valuable that not even a high mintage can diminish their value. One of them is the 1972 Lincoln Penny coin.
Penny coin has a long and interesting history. The first penny coin was minted in 1909 and this coin is still in production, yet with a slightly changed design and metal composition. At starters, various artists created different designs for a penny coin, but the one with the 16th American President Abraham Lincoln is the most popular. It was created in honor of the centennial year of his birth.
So the question is – how significant the 1972 Peny value is? The simple answer is, it depends on the grade, condition, and mint mark. We will spill all the tea about that information in the rows ahead. But since we don’t like to keep you waiting, here are a few teasers.
A circulated 1972 Lincoln penny does not have any special value, it rarely goes above $1, depending on the grade.
There is a major difference between the prices of uncirculated and circulated coins. For instance, the 1972 Lincoln Penny in circulated condition is estimated to be worth between $0,05 and $2,5, while those in mint state are $7,5.
However, a lot of circulated coins are still in good condition and suitable as collecting examples. Here is the list of the top 3 common coins worth investing in:
There are specific situations when these coins can fetch you a few hundred or even a thousand dollars, so read on to learn more!
Why Is The 1972 Penny Special?
Believe it or not but the 1972 penny has a few unique features that make it a very valuable and special collector’s item. The most important one is the fact that this is the final year when the US Mint produced the Lincoln Penny on a 95% copper planchet.
This composition was officially retired and changed to a copper-coated zinc alloy in 1973. Also, what makes this coin special is an abundance of DDO error penny coins that originate from the Philadelphia Mint. Many collectors claim that there are over 10 different varieties of DDO errors in the 1972 penny series. These coins are highly sought after by collectors.
Price Guide For Common 1972 Penny Coins Worth Investing
A penny coin has a face value of just $0.01, so what are you going to do with it? Well, most of you answered nothing. But, there is an interesting fact you didn’t know. Just like silver coins, copper coins have a melt value as well!
That means that even a highly damaged 1972 penny is worth its weight in copper, which is around $0.02! Not bad for such an insignificant denomination. But you must be aware that should be aware that currently melting copper is illegal, but this ban will probably be lifted in the future.
Now that you know this little fan fact don’t get rid of your pennies, better keep them and wait for the moment when you can earn some money on it.
In the table below we enlisted regular, as well as error varieties, and their current prices on the coin market.
1972 no mint mark Lincoln Penny value
The 1972 Lincoln Penny with no mint mark was struck in Philadelphia. Around 2.9 billion Lincoln Pennies were released into circulation. Due to that large mintage volume, their value is not exceptionally high, however, you’ll find some specimens in good condition that were sold for a few dollars. The best example is a 1972 penny with a grade MS 67 that was sold for $3,290.
This coin has gained popularity among collectors due to its very distinctive error that occurred in this minting facility. It is believed that over 20,000 coins with DDO errors were released into circulation. These error coins achieve premium prices on the market.
1972-D mint mark Lincoln Penny value
In 1972 a Denver mint was very busy. They produced around 2.66 billion Lincoln Pennies! No, it is not a mistake you read it well. Logically, the value of circulated coins is relatively low, from 20 to 40 cents. Those that are in well-preserved condition can be worth from $1 and up to $5 if you are lucky.
However, there are still some specimens that were sold for premium prices. For instance, the 1972-D penny with a grade MS67+ was sold for $3,290. The grade can significantly upgrade the price.
1889-S mint mark Lincoln Penny value
As usual, the San Francisco mint produced the lowest mintage, with only 376,939,108 struck coins. Moreover, you will find S mint mark coins to be much more valuable than coins from the other two mints. Coins in well-preserved condition and with high grades will cost a few hundred dollars.
Naturally, the most expensive coin is worth much more, the actual selling price for 1972-S with grade MS67+ was $1,955.
Also, San Francisco Mint produced 3,260,996 proof pennies. These coins are minted for collectors, therefore they are in the best possible condition. The proof coins are selling for premium prices, and you should expect to pay at least a few hundred dollars and more for it. A 1972-S proof coin was sold on auction for $1,495.
Current prices of collectible 1972 Lincoln Penny coins on the coin market
The Main Features Of The 1972 Lincoln Penny Coins
First Lincoln Penny was minted in 1909, and until 1958 it featured a Lincoln portrait on the obverse side and a wheat wreath on the reverse side. However, in 1958, President Eisenhower ordered the change of the reverse side. The wheat wreath was replaced with the Lincoln Memorial building which remained until 1982.
As the name says, a central figure on the obverse side of the 1972 penny is Abraham Lincoln. His bust is faced right, while the motto “IN GOD WE TRUST” is written above his head, along the upper rim. Just behind his neck the word “LIBERTY” is engraved. The minting date and the mint mark (if it has) are struck in front of Lincoln’s portrait.
The 1972 Lincoln Penny coin features a memorial reverse design. When you flip the penny you’ll see a centrally positioned Lincoln Memorial building. Alongside the upper coin rim the inscription “UNITED STATES OF AMERICA” is placed. The motto “E PLURIBUS UNUM” engraved in two rows, is engraved right above the building. On the bottom of the coin, the denomination “ONE CENT” is placed.
Keep in mind that the penny comes with a plain edge. This coin is minted on a planchet made of copper with added 5% zinc and tin. Coins were minted in Philadelphia (no mint mark), Denver (D), and San Francisco (S).
List Of Errors Found On 1972 Lincoln Penny Coins
Error coins are a big deal in the coin world, due to the fact that each coin features a different design. The difference may not be significant, however, it still gives the coin a unique look that attracts collectors. In fact, in most cases, error coins are the real MVP in the complete minting series.
Here is the list of the most common minting errors found in the 1972 Lincoln Penny series. Read on and learn how to recognize them.
- 1972 Lincoln Penny doubled die obverse error – This is the most common error in this series. Around 20,000 pennies were released in circulation. It is believed that there are at least ten different 1972 DDO Lincoln Penny error varieties. The doubling is visible on obverse inscriptions of the words “LIBERTY”, “IN GOD WE TRUST”, and on the minting date. Their average value is approximately $75, but these coins reach higher prices on auctions. A great example is the 1972 DDO penny with grade MS67+ sold for $14,400.
- 1972 Lincoln Penny doubled die reverse error – This error occurs when the die that was used to stamp the back of the coin is doubled. The end result is a distorted image on the reverse side, in this case, the Lincoln Memorial building. You’ll notice a doubling in the inscriptions and image giving the impression of a shadow image. A 1972 DDR error is not even as closely valuable and popular as DDO but it can still fetch you a few bucks.
- 1972 Lincoln Penny repunched mint mark error – Logically, when the mint mark is stamped more than once, a mirror image of the mint mark will appear. This error is visible to the naked eye. Unfortunately, this error is pretty common but you can expect to earn up to $50 for it depending on the grade.
- 1972 Lincoln Penny die clash – A unique error like this will occur when the stamping dies collide while a blank planchet is missing between. The end result is an impression of the dies on both coin sides. An error can be seen as raised lines or marks on the surface.
- 1972 Lincoln Penny broadstrike error – A coin that was struck without a retaining collar will have broad and flat edges. Also, it has an incomplete rim on the coin. This error is very popular among collectors. The price of the error coin depends on the degree of the broadstrike.
- 1972 Lincoln Penny wrong planchet error – When a blank planchet intended for a different coin type is used to strike the penny we get the incorrect size, weight, and composition. This coin is either too small or too large for penny denomination, or it will have a different color due to different compositions. The 1972 wrong planchet is a rare error among penny coins and it can be worth thousands of dollars.
- 1972 Lincoln Penny off-center error – Lincoln pennies struck with an off-center die are relatively rare. Their price depends on how much % of the design is missing. These error coins can reach a price tag of a few hundred dollars.
Where Can You Trade Valuable 1972 Lincoln Penny Coins?
Your options are plentiful when it comes to trading coins. You can do it in person, or you can do it online. For all of you who like to see the coin with your own eyes before investing we can only advise you to visit a specialized coin or pawn shop. Also, a good option can be an antique store or a coin show.
The good side of in-person trading is that you can be sure of what you bought, but the bad side is that your options are very limited.
On the other hand, the majority of people trade coins on the Internet. You can find plenty of web pages and coins available, but you should always be extra careful when trading online. Or you can find a reliable dealer and worry less.
Here is our list of auction houses and coin web pages that are proven and reliable – Heritage Auctions, PCGS, Coins For Sale, Stack’s Bowers, or Littleton Coin Company.
The Internet is also a great source of information for people who are selling their coins. You should visit platforms like eBay, Etsy, and LiveAuctioneers. On these pages, you’ll find price ranges, demand, and supply, which will largely help in finalizing the price tag.
Just as we recommend you investigate these pages when you want to sell your coins, we also advise you to investigate the sellers on these pages if you want to buy a coin from here.
Unfortunately, fake coins are pretty common, and they can be found here. Make sure you are not wasting your money and look for feedback, comments, or anything else that can help you find out if the seller is reliable.
FAQ
How many different penny coins are there?
There are three different types of penny coins – Flying Eagle Cent, Indian Head Cent, and Lincoln Cent. Only the Lincoln Cent is still in use nowadays. All of them were in use in different eras, and all are very valuable collectible items.
Throughout history, Lincoln Cent underwent some small design changes. Which in the end resulted in 4 different Lincoln Cent coins – Wheat, Memorial, Bicentennial, and Union Shiled (currently in use).
Small Denomination = Big Prize
If you enjoy collecting Lincoln Penny coins then chances are high that you already have at least a few regular strike pennies laying around. However, every collector strives to add only the best specimens to their valuable collections, so in fact, their search for them is never ending.
Hopefully, this article answered some of your burning questions about the 1972 Lincoln Penny value. We have high hopes that it will help you figure out how to handle your precious coins and where you can trade them risk-free.
We would like to suggest you read our 1964 Lincoln Penny value article and see what makes this minting series unique and valuable. In case you know some information that we didn’t mention here, please do not hesitate to share your opinions and advice in the comment section below. Good luck and happy hunting!
