The 1987 Lincoln Penny (no mint mark) is worth anywhere from its face value of $0.01 in worn condition to over $150 in pristine, high-grade mint state. While most of these coins in your pocket change are only worth a cent, certain rare errors and high-quality specimens can fetch a surprising premium among collectors.

Condition	Estimated Value (No Mint Mark)
Circulated / Average Wear	$0.01 (Face Value)
Uncirculated (MS63 – MS65)	$0.20 – $2.00
High Grade (MS67 Red)	$15 – $50
Superb Gem (MS68+ RD)	$150+

Understanding the 1987 Penny With No Mint Mark

If you are looking at a 1987 penny and notice there is no small letter (like a ‘D’ for Denver) under the date, it means your coin was struck at the Philadelphia Mint. At the time, the Philadelphia Mint did not use a mint mark on the Lincoln cent.

For the average American, finding one of these in a jar of change is a daily occurrence. However, determining if yours is a diamond in the rough requires a bit of knowledge. If you are unsure what you have, using a top coin identifier app can help you distinguish between a common spender and a collector’s item.

The CoinKnow app is particularly helpful for beginners because it uses high-resolution imaging to detect subtle surface details. Most of the 4.6 billion pennies struck in Philadelphia that year have long since entered circulation, meaning they have scratches, stains, or “zinc rot.”

Because these coins are made of a zinc core with a thin copper plating, they are prone to corrosion. A 1987 penny that has managed to stay “Red” (its original copper color) without any spots is much rarer than one that has turned brown or developed grayish bubbles.

Current Market Prices for 1987 Philadelphia Pennies

When discussing the 1987 Lincoln Penny value no mint mark, the “Grade” of the coin is everything. Collectors use a 70-point scale to determine quality. Most coins you find in circulation are graded below “About Uncirculated” (AU) and are simply worth a cent.

However, “Mint State” (MS) coins—those that never actually made it into a cash register—are where the value starts to climb. You can find detailed breakdowns of the 1987 Lincoln Penny MS60 to MS68 prices to see how much of a jump there is between grades.

A jump from MS67 to MS68 might not look like much to the naked eye, but it can mean a difference of $100 or more at auction. Professionals look for a “strong strike,” meaning the details of Lincoln’s hair and the columns of the Lincoln Memorial are sharp and well-defined.

Grade Designation	Price Range	Rarity Factor
MS65 RD (Gem)	$1 – $5	Common
MS66 RD	$10 – $20	Selective
MS67 RD	$40 – $75	Scarce
MS68 RD	$150 – $400+	Very Rare

The Importance of Color: Red vs. Brown

Copper coins are graded by their color: Brown (BN), Red-Brown (RB), and Red (RD). For a 1987 penny to be worth significant money, it almost certainly must be classified as “Red.” This means it retains 95% or more of its original mint luster.

Once a penny is handled, the oils from your fingers react with the copper, eventually turning it a chocolate brown. While a brown 1987 penny is a great piece of history, it usually lacks the financial value that serious investors seek.

If you find a penny that looks incredibly shiny, as if it just came out of a fresh roll, you should handle it only by the edges. Even one fingerprint can decrease the grade and value. You can check the estimated 1987 penny value for different color designations to see why maintaining that “Red” luster is so vital for your collection.

Tools like CoinKnow can assist in identifying the color classification of your coin by comparing it to a database of graded specimens. This is a game-changer for casual hunters who aren’t sure if their penny is “Red-Brown” or “Full Red.”

Valuable Errors to Look For in 1987 Pennies

Sometimes, the value of a 1987 penny has nothing to do with its condition and everything to do with a mistake made at the Mint. Error coins are highly sought after and can turn a common cent into a prize worth hundreds.

One common error for this era is “Doubled Die” strikes. While no major 1987 doubled die is as famous as the 1955 or 1972 versions, minor doubling on the obverse (front) or reverse (back) can still add value. Look for doubling in the letters of “LIBERTY” or the date “1987.”

Another error involves “Off-Center” strikes. If the coin was not properly aligned when the die hit it, part of the design might be missing, leaving a crescent moon-shaped blank area. The more off-center the strike is (while still showing the date), the more it is worth.

Error Type	What to Look For	Estimated Value
Double Die Obverse	Thickness or doubling in ‘1987’	$10 – $50
Off-Center Strike	Design shifted off the edge	$5 – $100+
Die Cracks	Raised lines of metal on surface	$2 – $15

How to Identify a 1987 Proof Penny

While we are focusing on the 1987 penny with no mint mark, you might occasionally come across a “Proof” penny. These were specially made for collectors and usually have a “S” mint mark for San Francisco, but it’s good to know the difference.

Proof pennies have a mirror-like background and frosted foreground details. They were struck twice with polished dies to ensure they looked perfect. However, if you find a proof-like 1987 penny without a mint mark, it is likely just a very early strike from a fresh pair of dies at Philadelphia.

These “PL” (Proof-Like) Philadelphia cents are very desirable because they were not supposed to look that good. If you have a 1987 cent that looks like a mirror, don’t spend it! Use the CoinKnow app to verify its characteristics and see if it’s worth sending to a professional grading service like PCGS or NGC.

Collector Interest and Long-Term Potential

Is the 1987 Lincoln Penny a good investment? For most people, the answer is no—unless you have a coin in a nearly perfect grade. Because the Philadelphia Mint produced billions of these, there will never be a shortage of common ones.

However, the “condition rarity” of 1980s coins is a growing trend in numismatics. Many people used pennies in the 80s for everyday transactions, and few bothered to save them in pristine condition. This means that 30+ years later, finding a 1987 penny that looks like it was minted yesterday is becoming harder.

As younger generations start collecting coins from the era they were born in, demand for high-grade 1987 cents may increase. Keeping a few high-quality rolls or certified MS67 specimens could be a fun and potentially profitable hobby over the next few decades.

Always keep an eye on auction results. Sometimes, a single 1987 penny might sell for $500 simply because two collectors are fighting to complete a “Register Set” of perfect Lincoln Memorial cents.

FAQ

Q: Why does my 1987 penny have no letter under the date?

A: The lack of a mint mark means the coin was produced at the Philadelphia Mint. At that time, Philadelphia did not use a “P” mint mark on pennies. It is not an error; it is a standard design for that year.

Q: Is a 1987 penny made of solid copper?

A: No. Since 1982, Lincoln pennies have been made with a core of 99.2% zinc and a thin coating of pure copper. This is why 1987 pennies are lighter than those made before 1982 and why they often develop “zinc bubbles” or corrosion.

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

A: While prices fluctuate, a 1987 Lincoln Penny graded MS68 RD by PCGS once sold at auction for over $1,000. These prices are only reached by coins that are virtually perfect with no visible scratches or spots under a microscope.

Q: Should I clean my 1987 penny to make it more valuable?

A: Never clean your coins! Cleaning a coin with chemicals or cloth creates tiny scratches that professionals can see. A cleaned coin is almost always worth less to a collector than a dirty, original coin.