That 1987 penny sitting in your change jar might be worth more than a cent. While most 1987 Lincoln pennies remain common circulation coins, specific mint errors and high-grade specimens command impressive premiums. A fold-over strike error recently sold for $630, and off-center strikes in pristine condition have reached $492. Understanding what separates a face-value coin from a collector’s prize could turn your pocket change into profit.

Understanding the 1987 Penny Production

The United States Mint produced billions of pennies in 1987 across three facilities. Philadelphia struck pennies without a mint mark, Denver produced coins marked with a “D,” and San Francisco created proof specimens bearing an “S” mint mark. The Philadelphia facility alone released over 4.6 billion pennies that year, making them exceptionally common in circulation today.

These coins feature the Lincoln Memorial reverse design, which replaced the wheat stalks in 1959. The obverse displays Victor David Brenner’s portrait of Abraham Lincoln, with the designer’s initials “VDB” appearing in small letters on Lincoln’s shoulder—a detail that affects collectibility in certain varieties.

Most 1987 pennies contain 97.5% zinc core with copper plating, a composition change that occurred in 1982 to reduce production costs. This composition shift makes these pennies lighter than their pre-1982 counterparts, weighing 2.5 grams instead of 3.11 grams.

Standard 1987 Penny Values by Mint Mark

No Mint Mark (Philadelphia)

Circulated 1987 pennies from Philadelphia hold no premium, remaining worth exactly one cent. However, uncirculated examples show different values based on preservation quality:

A 1987 penny graded MS-68 Red sold through Heritage Auctions for $144 in 2019, demonstrating the premium collectors pay for exceptional preservation.

1987-D Penny (Denver)

Denver-minted pennies follow similar value patterns to Philadelphia issues. The “D” mint mark appears below the date on the obverse. With over 4.4 billion produced, these remain abundant:

The highest-graded examples in MS-68 Red condition have reached $250 at specialized auctions when full red luster remains intact.

1987-S Proof Penny (San Francisco)

San Francisco exclusively produced proof coins for collectors in 1987. These specially struck pennies feature mirror-like fields and frosted devices. Standard 1987-S proofs from original mint sets trade for $2 to $5, while deep cameo examples in PR-69 or PR-70 grades command $15 to $40.

Valuable 1987 Penny Errors Worth Hundreds

Off-Center Strike Errors

Off-center strikes occur when the blank planchet misaligns during striking, leaving part of the coin without design elements. Value increases with the percentage off-center and whether the date remains visible. A 1987 penny struck 40% off-center with a full date sold for $492 at a Stack’s Bowers auction in 2021, graded MS-69 Red.

Minor off-center strikes (5-10%) typically bring $20 to $75, while dramatic examples showing 50% or more displacement can reach $300 to $500 in high grades. The key factors determining value include the percentage off-center, date visibility, grade, and whether the error affects the obverse or reverse.

Fold-Over Strike Errors

The most valuable 1987 penny error documented is a fold-over strike that realized $630 at auction. This dramatic error happens when a planchet folds before or during striking, creating a coin that’s been struck on both sides of the fold. These errors are extremely rare, with perhaps fewer than ten known examples across all 1987 pennies.

Fold-over strikes show portions of the design struck on what should be blank edge areas. The folded section often displays doubled or distorted design elements. Authentication by professional grading services like PCGS or NGC is essential, as these errors can be confused with post-mint damage.

Die Break and Cud Errors

Die breaks occur when cracks develop in the striking die, creating raised lines or blobs on finished coins. A 1987 penny with a significant obverse die break sold for $100 in 2018, though current market values have likely increased. Major “cud” errors—large raised areas caused by die breaks at the rim—can reach $75 to $200 depending on size and location.

Minor die breaks typically add $5 to $25 to a penny’s value, while dramatic examples covering significant portions of Lincoln’s portrait or the memorial building command stronger premiums. The most desirable die breaks affect major design elements without obscuring date or mint mark.

Wrong Planchet Errors

Though extremely rare, 1987 pennies occasionally appear on planchets intended for other denominations. A 1987 penny struck on a dime planchet would be worth several thousand dollars due to the weight and size discrepancy. No confirmed sales exist for 1987 specimens, but similar-era wrong planchet pennies have exceeded $2,000 at major auctions.

The VDB Variety Consideration

Some sellers market 1987 pennies as “visible VDB varieties” commanding premium prices. This requires clarification: all 1987 pennies bear Victor David Brenner’s initials “VDB” on Lincoln’s shoulder, following the design standard established in 1918. These initials are intentionally small and sometimes difficult to see without magnification, especially on worn coins.

A clearly visible VDB doesn’t indicate a special variety or error—it simply means the coin has minimal wear on that area. Sellers sometimes exploit collector confusion by presenting normal VDB initials as rare features. A genuine 1987 penny with visible VDB in average uncirculated condition remains worth $0.10 to $2.00, not the inflated prices sometimes advertised.

The genuinely valuable 1909-S VDB penny, worth thousands of dollars, creates confusion that opportunistic sellers exploit. Always verify claims about VDB varieties with professional grading services before paying premiums.

Grading Impact on 1987 Penny Values

The Sheldon Scale grades coins from 1 to 70, with Mint State (MS) designations starting at MS-60 for uncirculated coins. For copper-plated zinc pennies like the 1987 issue, color designation significantly affects value:

Red (RD) indicates full original copper luster with no brown oxidation. These command the highest premiums, sometimes 300% more than brown examples at the same numeric grade.

Red-Brown (RB) shows partial oxidation, with 10-50% of the surface displaying brown toning. Values fall between red and brown specimens.

Brown (BN) describes coins with over 50% brown oxidation. These receive the smallest premiums above face value.

A 1987-D penny graded MS-66 Red might sell for $45, while the same date at MS-66 Brown brings only $12. This color premium becomes more pronounced in grades above MS-65, where preservation quality matters most to serious collectors.

Authentication and Selling Strategies

Before investing in professional grading services, examine your 1987 pennies under magnification. Look for the key error types: off-center strikes, die breaks creating raised areas, or folding/striking abnormalities. Standard uncirculated coins below MS-65 rarely justify the $20-$40 grading fee unless you’re submitting multiple coins.

For suspected errors or coins in exceptional condition, submit to PCGS or NGC. These services authenticate errors, provide tamper-evident holders, and assign grades recognized throughout the numismatic market. A $630 fold-over strike error or $492 off-center strike requires third-party certification to achieve maximum value.

When selling valuable 1987 pennies, specialized coin auctions typically yield better results than local dealers for high-grade specimens or dramatic errors. Heritage Auctions, Stack’s Bowers, and Great Collections regularly feature Lincoln cent errors in their sales. For coins worth $50-$200, online marketplaces like eBay reach broad audiences, though fees reduce net proceeds by 12-15%.

Maximizing Your 1987 Penny Finds

Check rolls from banks rather than relying on pocket change alone. Bank rolls sometimes contain uncirculated coins stored decades ago, offering better odds of finding high-grade specimens. Search specifically for coins with full red luster, no contact marks on Lincoln’s cheek or the memorial building, and sharp strike details.

Examine each coin’s alignment—even slightly off-center strikes bring premiums if the date remains clear. Look for unusual raised areas indicating die breaks, and inspect edges for evidence of fold-over or striking irregularities. A 10x loupe or digital microscope helps identify errors that appear minor to the naked eye but command significant collector interest.

Store potential keepers in non-PVC holders immediately to prevent copper oxidation that reduces red designation chances. Even a few months of exposure can drop a potential MS-66 Red specimen to MS-66 Red-Brown status, cutting value by 40-60%.