That worn copper penny from 1917 sitting in your collection might be worth far more than one cent. While millions of Lincoln Wheat Pennies were struck that year across three mints, certain varieties and error coins command impressive premiums today. Understanding which mint mark you have—and recognizing valuable errors—can mean the difference between pocket change and a significant payday.

Understanding the 1917 Wheat Penny Production

The United States Mint produced Lincoln Wheat Pennies at three facilities in 1917: Philadelphia (no mint mark), Denver (D), and San Francisco (S). The mint mark appears on the obverse beneath the date. Philadelphia struck 196,429,785 pennies without any mint mark, making these the most common. Denver produced 55,120,000 coins marked with a “D”, while San Francisco had the lowest mintage at 32,620,000 pieces bearing an “S” mint mark.

These production numbers directly impact current values. Lower mintages typically translate to higher scarcity, especially in better grades where fewer coins survived in presentable condition. The 1917-S particularly benefits from this scarcity premium, though strike quality issues at the San Francisco Mint that year can complicate grading.

1917 Philadelphia Wheat Penny Values (No Mint Mark)

Philadelphia-minted pennies represent the entry point for most collectors interested in this date. In heavily circulated condition (Good-4), these coins trade for approximately $0.50 to $0.75. As condition improves to Fine-12, expect values around $1.50 to $2.50. Very Fine-20 examples typically sell for $3 to $5.

The real value jump occurs in uncirculated grades. An About Uncirculated-50 specimen commands $15 to $25, while Mint State coins see dramatic increases:

According to Heritage Auctions records from 2022-2023, MS-67 examples with exceptional red color have sold for over $2,000. The key factor beyond grade is original copper color—full red (RD) coins command significant premiums over brown (BN) or red-brown (RB) examples.

1917-D Denver Mint Penny Worth

Denver-struck pennies from 1917 carry a scarcity premium across all grades. In Good-4 condition, these coins start around $2 to $3, with Fine-12 examples bringing $6 to $9. Very Fine-20 specimens typically sell for $12 to $18.

Uncirculated 1917-D pennies become quite valuable. About Uncirculated-50 coins trade for $50 to $75, while Mint State values escalate quickly:

The 1917-D is considerably scarcer than its Philadelphia counterpart in grades above MS-64. PCGS population reports show fewer than 200 coins certified at MS-65 or higher, creating strong competition among collectors for premium examples. A PCGS MS-66 Red specimen sold at Stack’s Bowers in January 2023 for $3,120.

1917-S San Francisco Mint Penny Values

The 1917-S represents the scarcest regular-issue variety of the year, despite not having the lowest mintage in absolute terms. Survival rates were lower for San Francisco coins, and strike quality issues make high-grade examples particularly elusive. In Good-4 condition, expect to pay $2.50 to $4. Fine-12 examples command $8 to $12, while Very Fine-20 coins sell for $18 to $28.

Uncirculated 1917-S pennies carry substantial premiums. About Uncirculated-50 specimens trade for $75 to $110, with Mint State values reflecting genuine scarcity:

Many 1917-S pennies exhibit weak strikes, particularly in the wheat stalks on the reverse. Fully struck examples with complete details command premiums of 25-40% above typical prices for the grade. A PCGS MS-65 Red coin with exceptional strike sold through Heritage Auctions in August 2023 for $4,080.

The Valuable 1917 Doubled Die Obverse Error

The 1917 Doubled Die Obverse represents one of the most significant and valuable errors in the Lincoln Wheat Penny series. This striking error occurred when the die received two slightly offset impressions during the hubbing process, creating visible doubling on design elements.

On genuine 1917 DDO pennies, doubling appears most prominently on “LIBERTY” and the date, with strong separation visible under 5x magnification. The doubling on “IN GOD WE TRUST” is typically less dramatic but still observable. Authentication is crucial, as many worn coins exhibit minor die deterioration or machine doubling that novices mistake for the valuable doubled die.

Authenticated 1917 Doubled Die Obverse pennies command exceptional premiums. Even in Good condition, examples start around $350 to $500. Fine-12 specimens sell for $800 to $1,200, while Very Fine-20 coins bring $1,500 to $2,200. In About Uncirculated condition, values exceed $3,000.

Mint State examples are extremely rare. An MS-63 Brown example sold at Heritage Auctions in April 2023 for $8,400. The finest known specimen, graded MS-65 Red-Brown by PCGS, last sold publicly in 2019 for $18,000. Fewer than 30 examples have been certified by major grading services combined.

Other Notable 1917 Wheat Penny Errors

Beyond the famous doubled die, several other error types exist for 1917 pennies. Repunched mintmarks appear on both Denver and San Francisco issues, where the mint mark was punched twice in slightly different positions. While not as valuable as the doubled die, clear RPM varieties add 20-50% to base values in comparable grades.

Off-center strikes occur across all three mints. A coin struck 5-10% off-center with full date visible might add $25-$75 to base value. More dramatic off-center errors (25-50%) with complete dates can bring $200-$500 depending on eye appeal.

Lamination errors and planchet flaws occasionally appear. A significant lamination that creates a dramatic visual effect might add $15-$40 in circulated grades. Die cracks and cuds—raised areas where the die broke—typically add $10-$30 depending on size and location.

Grading Factors That Impact 1917 Penny Prices

Understanding grading nuances helps maximize value when selling or avoid overpaying when buying. For circulated 1917 pennies, key diagnostic points include Lincoln’s cheekbone and jawline detail, wheat stalk definition on the reverse, and rim completeness.

In uncirculated grades, original color dramatically affects value. Full red (RD) coins—retaining 95% or more original copper luster—command premiums of 100-300% over brown (BN) examples in the same numerical grade. Red-brown (RB) coins fall somewhere between, typically bringing 40-80% premiums over brown.

Strike quality particularly affects 1917-S values. Look for complete separation in the wheat stalks and full detail in Lincoln’s hair. Weakly struck high-grade coins might sell for 25-40% less than well-struck examples at the same grade level.

Surface preservation matters enormously in Mint State grades. A scratch-free MS-64 coin can be worth more than an MS-65 with several distracting marks. When evaluating potential purchases, examine both sides under good lighting for cleaning, corrosion, or environmental damage that might not be reflected in the numerical grade alone.

Where to Buy and Sell 1917 Wheat Pennies

For common circulated examples, local coin shops offer immediate liquidity, though expect to receive 50-70% of retail value. Online marketplaces like eBay provide access to more buyers but involve fees of 12-15% and shipping risks.

Higher-grade coins and error varieties merit professional grading through PCGS or NGC. Grading costs $20-$40 per coin but provides authentication and holder protection that significantly improves marketability. Certified coins typically sell for premiums that more than offset grading fees for anything MS-63 or higher.

Major auction houses—Heritage Auctions, Stack’s Bowers, and GreatCollections—provide the best venue for premium examples. An MS-66 or better coin, or any authenticated doubled die, deserves the exposure these platforms provide. Consignment fees run 10-20% but buyer premiums mean final prices often exceed direct sales by 15-30%.

For purchasing, reputable online dealers like APMEX, JM Bullion, and Modern Coin Mart offer inventory transparency with return privileges. Their prices run 10-20% above wholesale but provide guarantees that private transactions lack. Building relationships with knowledgeable local dealers can yield opportunities to purchase fresh material before it reaches wider markets.

Building a Complete 1917 Wheat Penny Collection

A focused approach to collecting 1917 pennies offers achievable goals at various budget levels. Beginning collectors might target one example from each mint in Fine-12 grade, requiring approximately $20-$30 total investment. This provides hands-on experience with mint mark identification and circulated coin evaluation.

Intermediate collectors often pursue uncirculated examples from each mint. An MS-63 set—Philadelphia, Denver, and San Francisco—requires $700-$1,000 but represents coins that have appreciated steadily over decades. This grade level offers eye appeal without the exponential cost jumps of MS-65 and higher.

Advanced collectors chase condition census coins—the finest known examples. With populations under 50 in MS-66 for Denver and San Francisco mints, pursuing registry set-quality coins becomes genuinely competitive. Budget $5,000-$15,000 for top-tier examples of all three mints.

Error collectors focus on the doubled die variety and repunched mint marks. Even budget-conscious specialists can acquire lower-grade 1917 RPM varieties for $25-$75, while saving toward an authenticated doubled die represents a medium-term goal requiring $500-$1,500 depending on condition tolerance.