1977 Penny Value Guide

What Makes A 1977 Lincoln Memorial Cent Penny Valuable?

The 1977 Lincoln Penny isn’t very uncommon and is nevertheless frequently encountered in change. The value of the 1977 penny comes on its sentimental worth, unless it is a rare mistake coin. The ability of coins to operate as a record of historical events that took place in a given year is one of the most intriguing aspects of coins and coin collecting. They can also serve as a memento for someone who was born that year or who had a significant life event occur at the time.

The obverse of the commemorative 1977 Lincoln cent, created by Victor David Brenner to mark the 100th anniversary of Lincoln’s birth, is nearly identical to the 1909 design. Brenner’s initials, V.D.B., which were moved from the reverse in late 1909 and inserted underneath President Abraham Lincoln’s bust in 1918, are the primary variation between the 1977 obverse and the 1909 version.

The year 1977 is visible to Lincoln’s right, and the phrase “IN GOD WE TRUST” is written above the head of state. The word LIBERTY appears to the president’s left.

The 1909 Brenner wheat stalk design, which can be seen on the 1977 cent, was replaced by the 1959 Lincoln Memorial reverse, which was designed by Frank Gasparro. The Lincoln Memorial’s lower right side bears Gasparro’s initials, FG. The phrase “ONE CENT” is written below the structure and around the rim, while the words “UNITED STATES OF AMERICA” are inscribed around the upper half of the reverse along the rim.

The motto E PLURIBUS UNUM is inscribed between the words UNITED STATES OF AMERICA and the top of the Lincoln Memorial. The Lincoln cent’s edge lacks any inscription or reeding and is plain or smooth.

The Lincoln Cent was made of bronze and nickel until 1982, when a copper-plated zinc alloy was introduced.

The year 1977 was a particularly active one, as the penny was released. The Star Wars saga and Saturday Night Fever were released on film, Voyager 1 and 2 heralded a new era in NASA’s space research, and the Atari 2600 gave rise to the modern home gaming industry.

1977 Penny Varieties

1977 P Penny (With No Mint Mark)

photo source: www.usacoinbook.com

1977 D Penny

photo source: www.usacoinbook.com

1977 S Proof Penny

photo source: www.usacoinbook.com

List of errors

1977 Doubled Die Penny

There are currently no known major doubled dies in the 1977 penny, meaning there aren’t any extraordinarily expensive doubled die 1977 penny faults.

However, you can still find some pretty amazing 1977 doubled die pennies! The minor doubling in and around the inscription and date on the coin can be used to identify them. Depending on the degree of the doubling and its popularity among die variety collectors, several of these less common 1977 doubled die pennies are valued between $25 and $100.

1977 Off-Center Penny

When the coins aren’t properly centered under the dies or the die pairing itself isn’t properly aligned with the coins it’s striking, these odd-looking mistake coins are produced. In either case, the off-center defect is a real oddity; it typically shows a crescent-shaped blank area and at least 1% of the artwork is missing.

A common misconception is that all off-center errors are advantageous. However, since those that are between 1% and 3% off center are so typical and unimpressive, they don’t actually have any unique significance. As 10% or more of the design is missing, off-center error values begin to increase. These items can cost between $15 and $25.

The off-center mistake pennies with the whole date and mintmark but nearly half of the designs missing are the most expensive (when applicable). These can cost more than $100!

1977 Pennies with Re-punched Mint Marks

Mintmarks were manually hand-punched onto working dies in the 1970s. This occasionally resulted in the erroneous mintmark being punched onto the die. For instance, the mintmark can be positioned incorrectly, such as upside down, sideways, crooked, or in an area that isn’t quite suitable.

Now what? Well, the Mint employee in charge of repunching the mintmark onto the die would do that! Minor to substantial repunched mintmark variations are all collectable. The majority of 1977-D repunched mintmark variations sell for between $3 and $15.

1977 Pennies With BIE Errors & Other Die Cracks

Simple die cracks, which appear as minute raised lines on a coin, might not add any value. However, people who design unique shapes or patterns for coins might be extremely valuable! Die cuds are one of the more uncommon varieties of die cracks and are identified by their size and flattish blank areas of metal adhering to the rim. Depending on the size and shape of the die cud, these can be worth up to $150.

The BIE mistake penny, which features a slight, vertical die break roughly resembling a capital “I” between the “B” and “E” of “LIBERTY,” is a less expensive but nonetheless fascinating die break specific to Lincoln cents. The majority of 1977 BIE pennies are worth $5 to $10.

Are There Any Rare 1977 Pennies?

Outside of the error articles we’ve explored, there really aren’t any extremely rare or highly sought-after 1977 pennies. Even so, with a value of $2.50, which is technically 250x its face value, finding a 1977 S penny isn’t a bad thing.

How Much Is A 1977 Penny Worth Today?

1977 Lincoln Pennies have a melt value of $0.0238, making them actually worth fractionally more than their face value.

In circulating conditions, the majority of 1977 pennies are only worth their weight in copper. A penny is currently worth roughly $0.02 when it comes to copper melt value. The only condition in which these coins can be sold for a premium is uncirculated.

Both the 1977 D penny and the 1977 penny without a mint mark are worth about $1 in uncirculated condition with an MS 65 grade. In PR 65 condition, the 1977 S proof cent is valued at about $2.50.

How Does The Grading System Work?

The Sheldon Scale is used by numismatists to provide a numerical value to coins. The Sheldon Scale goes from poor (P-1) to perfect mint state (P-1) (MS-70). Coins were originally evaluated using words to reflect their condition (Good, Fair, Excellent, Etc.). Unfortunately, coin collectors and dealers had different ideas about what each of these terms represent.

Professional numismatists joined together in the 1970s and established CoinGrading standards. These numismatists now assign grades at key places on the seventy-point scale, using the most regularly utilized numeric points in conjunction with the original adjective grade. The following are the most common coin grades:

1. 1. • (P-1) Poor – Indistinguishable and probably damaged; if used, must have a date and mintmark; otherwise, rather battered.
      • (FR-2) Fair – Nearly smooth, but without the damage that a coin graded Poor often possesses. The coin must have enough detail to be identified.
      • (G-4) Fair – Inscriptions have merged into the rims in some areas, and important elements have been mostly erased.
      • (VG-8) Very Good- A little weathered, but all of the primary design elements are visible, albeit faintly. There is little if any, central detail left.
      • (F-12) Good – The item is very worn, yet the wear is even, and the overall design details stand out clearly. Rims are almost completely isolated from the field.
      • (VF-20) Very Fine – Moderately weathered, with some finer features still visible. The motto or all letters of LIBERTY are readable. Both sides of the coin have entire rims that are separated from the field.
      • (EF-40) Extremely Fine – Gently used; all gadgets are visible, and the most important ones are bold. The finer details are bold and clear, however, light wear may be seen.
      • (AU-50) Uncirculated – Slight evidence of wear on the coin’s design’s high points; may have contact marks; eye appeal should be adequate.
      • (AU-58) Uncirculated Choice – Slight traces of wear, no severe contact marks, almost full mint shine, and great eye appeal.
      • (MS-60) Mint State Basal – Strictly uncirculated; no indication of wear on the coin’s highest points, but an unsightly coin with reduced luster, visible contact marks, hairlines, and other flaws.
      • (MS-63) Mint State Acceptable – Uncirculated, but with contact scratches and nicks, little reduced shine, but otherwise appealing appearance. The strike is weak to average.
      • (MS-65) Mint State Choice – Uncirculated with great mint shine, very little contact blemishes, and exceptional eye appeal. The strike is unusually severe.
      • (MS-68) Mint State Premium Quality – Uncirculated with superb luster, no obvious contact marks to the naked eye, and exceptional eye appeal. The strike is quick and appealing.
      • (MS-69) Almost Perfect Mint State – Uncirculated with perfect brilliance, a sharp and appealing strike, and extremely good eye appeal. A near-perfect coin with minor imperfections in the planchet, strike, and contact markings (seen only under 8x magnification).
      • (MS-70) Mint State Perfect – Under 8x magnification, there are no tiny imperfections discernible; the strike is crisp, and the coin is perfectly centered on a beautiful planchet. Rarely seen on a coin, this coin is bright and whole, with original luster and exceptional eye appeal.

Where To Buy Or Sell 1977 Pennies?

The best places to buy 1977 Pennies are flea markets, estate sales, or online marketplaces like eBay because they have almost no value and are mostly valued as a novelty or sentimental coins, such as for those who were born in the year, got married in the year, and so on.

When dealing with unusual or rare coins, such as the 1977 Pennies with characteristic errors, it is important to work with reputable coin dealers and auction houses like Heritage Auctions for additional peace of mind.

If you’re unsure whether or not your penny has a more valuable mint error, you can always ask for help in coin collecting forums.

FAQs

How much is a 1977 D error penny worth?

1977 D error pennies can be worth anything from a few dollars up to around $150, depending on the error seen.

Where is the mint mark on a 1977 penny?

The mint mark on 1977 Pennies is found on the obverse side the coin to the right of Lincoln’s chest.

What is the 1977 D penny pacman error?

This refers to a coin with damage on it resembling the popular gaming character, however, this is not a recognized error coin and therefore does not have any sales estimates attached to it.