The 1987-S Lincoln Penny is worth anywhere from $1 in typical proof condition to over $3,500 for rare, high-grade specimens. While you won’t find this specific “S” mint mark coin in your pocket change, many Americans discover them in inherited collections or old proof sets and wonder about their market value.

Condition / Grade	Estimated Value
PR 65 (Standard Proof)	$1.00 – $3.00
PR 69 Deep Cameo	$15.00 – $25.00
PR 70 Deep Cameo (Perfect)	$150.00 – $500.00
Unique Errors	$50.00+

Understanding the 1987-S Proof Lincoln Memorial Cent

If you have stumbled upon a shiny 1987-S penny, you are looking at a “Proof” coin. Unlike the millions of pennies struck in Philadelphia or Denver for daily commerce, the San Francisco Mint produced these specifically for collectors. If you are unsure whether your coin is a standard strike or a proof, using a top coin identifier app can help you distinguish the mirror-like finish from a regular shiny penny.

The “S” mint mark under the date indicates its origin at the San Francisco Mint. In 1987, the mint produced 4,227,728 of these proof cents. While four million might sound like a lot, it is a tiny fraction compared to the billions of pennies made that year for circulation. These coins were handled with gloves and sold in plastic cases, which is why they usually look much better than the pennies in your jar.

To get an accurate sense of the market, you can check the 1987 Lincoln Penny value for red specimens. Most 1987-S pennies are “Deep Cameo,” meaning there is a sharp contrast between the frosted portrait of Abraham Lincoln and the reflective, mirror-like background fields.

Factors That Influence 1987-S Penny Value

The primary driver of value for a 1987-S proof penny is the grade assigned by professional services like PCGS or NGC. Because these coins were never intended to circulate, most are still in excellent condition. However, even tiny hairline scratches or “milk spots” (white cloudy patches) can lower the grade significantly. This is where a tool like CoinKnow becomes invaluable for new collectors trying to assess their finds.

Surface preservation is everything. A “Deep Cameo” (DCAM) designation is standard for this year, but a specimen that lacks this contrast will be worth significantly less. Collectors are looking for “PR 70” coins—which are perfection under 5x magnification. While a PR 69 coin might sell for $20, a PR 70 can fetch hundreds because of its rarity.

The CoinKnow app can help you compare your coin’s luster against high-resolution images of graded sets. Current market trends for the 1987 penny value suggest that while the floor for these coins is low, the ceiling for perfect specimens remains strong among registry set collectors who want the best of the best.

Grading Standard	Visual Description	Market Price
PR 60-64	Noticeable prints, scratches, or spots.	$0.50 – $1.50
PR 65-67	Attractive with minor flaws visible under glass.	$3.00 – $10.00
PR 69 DCAM	Virtually flawless to the naked eye.	$15.00 – $30.00
PR 70 DCAM	Perfect coin; no post-production flaws.	$150.00+

Identifying 1987-S Error Pennies

While 1987-S proof coins were struck with great care, errors still occurred. These are the “lottery tickets” of the coin world. If you find an error on a proof coin, the value can skyrocket because the quality control at the San Francisco Mint was so high that mistakes rarely left the building.

Common errors to look for include “doubled dies.” Although there isn’t a major, famous 1987-S doubled die like the 1955 or 1972 versions, minor doubling on the date or the lettering can still occur. You might also find “repunched mint marks” or “die clashes,” where the image of the reverse (the Memorial) is faintly visible on the obverse (Lincoln side) due to the dies striking each other without a coin blank in between.

Using CoinKnow‘s identification features can help you zoom in on these tiny details. If you suspect your 1987-S has a double image, look closely at the “1987” and the “Liberty” text. Genuine doubled dies show a distinct separation of the digits, not just a “shelf-like” blur known as machine doubling.

The Composition and Specs of the 1987 Cent

By 1987, the U.S. Mint had long since moved away from the 95% copper pennies of the past. The 1987-S Lincoln Penny is composed of a core of 99.2% zinc, which is then plated with a thin layer of pure copper. This change happened in 1982 to save money as the price of copper rose.

Because these coins are mostly zinc, they are susceptible to “zinc rot.” If the copper plating is scratched or compromised, oxygen reacts with the zinc core, causing unsightly black or white bubbles. This is very common in uncirculated 1987 pennies found in rolls, but less common in 1987-S proofs because they were kept in protective cases.

Feature	Specification
Weight	2.5 Grams
Diameter	19.05 mm
Composition	97.5% Zinc / 2.5% Copper
Edge	Plain (Smooth)

Why Collectors Treasure the 1987-S Penny

Why would someone pay $200 for a penny from 1987? For many, it is about completing a “Proof Set” or a “Lincoln Memorial Registry Set.” In the world of coin collecting, having a perfect coin for every year is a prestigious goal. Because millions were made but very few are truly perfect, the competition for those PR 70 graded coins is fierce.

Furthermore, the 1980s represent a bridge between the classic era of coin collecting and the modern “state quarters” boom. Many people who are parents or grandparents today were young parents in 1987, and these coins are often the first ones they bought as gifts for their children. This nostalgic value keeps the demand steady for high-quality proofs.

If you have a collection of 1980s proof sets, don’t just leave them in a drawer. Take a moment to inspect the pennies specifically. If you see deep frosting on Lincoln’s face and a mirror-like shine that looks like a black pool of water, you might have a high-grade specimen worth grading.

Summary of What to Look For

To wrap up, the 1987-S penny is a specialist’s coin. While it isn’t rare in a general sense, it is rare in “perfect” condition. If you find one:
1. Check the “S” mint mark.
2. Ensure it has a mirror-like finish (Proof).
3. Look for “Zinc Rot” or spots that might lower the value.
4. Compare it to other sold listings online to get a realistic price.

Most 1987-S pennies found in the wild (out of their original plastic packaging) are worth less than $2 because they likely have fingerprints or light scratches that ruin their “proof” status. However, those kept in their original Mint packaging remain beautiful pieces of American history.

FAQ

Q: Can I find a 1987-S penny in my pocket change?

A: It is extremely rare. Since these were only sold in proof sets for collectors, the only way one enters circulation is if someone breaks open a set and spends it. If you find one, its value will be lower due to the wear and tear of being in a pocket.

Q: Is there a 1987 penny that is made of solid copper?

A: No. All 1987 pennies (P, D, and S) were struck on copper-plated zinc planchets. If you find one that weighs 3.11 grams instead of 2.5 grams, you have found a major “wrong planchet” error, which could be worth thousands!

Q: What is the highest price ever paid for a 1987-S penny?

A: High-grade PR 70 Deep Cameo specimens have sold at major auctions for hundreds of dollars, with some unique error varieties fetching even more depending on the auction environment and the bidders present.

Q: How can I tell if my 1987-S penny is “Deep Cameo”?

A: A Deep Cameo coin will have a very thick, white frosting on Lincoln’s portrait and the Lincoln Memorial, while the flat fields of the coin will look like a dark, polished mirror. If the whole coin is just shiny without that contrast, it is a standard proof.