1927 Wheat Penny Value (2026 Guide): Errors List, “D”, “S” & No Mint Mark Worth

Nearly a century old, the 1927 wheat penny is a tangible piece of the Roaring Twenties — struck the same year Charles Lindbergh completed his historic solo transatlantic flight. Minted at three facilities — Philadelphia, Denver, and San Francisco — these 95% copper cents now command serious collector attention.

Values span a wide range depending on three main factors: which mint struck the coin, how well it was preserved, and whether it still shows its original red copper color. Philadelphia examples run from about $0.20 in heavily worn condition up to $40,800 for a flawless MS68 Red specimen. The scarcer 1927-D climbs to $7,800 at the top, while the prized 1927-S — a certified condition rarity with no known example graded MS66 or higher — reached $52,875 at GreatCollections in February 2023.

Understanding what separates a 35-cent coin from a five-figure treasure takes just a few minutes — and this guide walks you through every step.

 

1927 Wheat Penny Value By Variety

The 1927 penny comes in three varieties based on mint location: no mint mark (Philadelphia), “D” (Denver), and “S” (San Francisco), with each commanding different values. If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Top 10 Most Valuable 1927 Wheat Penny Worth Money

The range between the highest and second-highest recorded prices underscores the exponential nature of gem-grade premiums. A single grade point at the top of the scale can represent tens of thousands of dollars in additional value.

Investors should focus on cherry-picking undergraded examples in the MS64–MS65 range, where value appreciation remains robust while entry costs stay accessible. Denver varieties present attractive middle-ground opportunities, while San Francisco pieces offer maximum upside potential for patient collectors willing to wait for quality specimens. Targeting original copper-red surfaces is crucial — color designation alone can instantly double or triple a coin’s value.

 

History of the 1927 Wheat Penny

By 1927, the Lincoln wheat penny had come a long way from its dramatic debut nearly two decades earlier. The story began when President Theodore Roosevelt decided American coins needed more artistic flair and commissioned sculptor Victor David Brenner to create something special.

Brenner’s design was revolutionary — America’s first circulating coin featuring a real president’s portrait. He based Lincoln’s profile on his own bronze plaque from 1907, while the reverse showcased two wheat stalks symbolizing national prosperity. But the coin’s 1909 launch created chaos when Brenner’s prominent “V.D.B.” initials sparked public outrage over what seemed like advertising on currency.

The controversy forced the Mint to remove the initials just ten days after release. This created an instant rarity: while Philadelphia had minted 28 million VDB pennies, San Francisco managed only 480,000. The initials didn’t return until 1918 — much smaller and hidden on Lincoln’s shoulder — where they remained through 1927 and beyond.

By the time 1927 arrived, America was riding a wave of economic optimism. Stock market speculation was accelerating, consumer credit was easy, and the Lincoln cent continued to see heavy daily use across the country. This was one of the final years of strong economic confidence before the October 1929 stock market crash would change everything. These 1927 pennies were still circulating actively when Lindbergh landed in Paris in May of that year.

Three mints — Philadelphia, Denver, and San Francisco — were producing millions using the same 95% copper composition that had defined the series since 1909. The design that once divided the nation had become a cherished standard for American currency.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

 

Is Your 1927 Wheat Penny Rare?

Collectors can access real-time rarity ratings and market valuations through our CoinValueChecker APP to make informed acquisition decisions.

 

Key Features of the 1927 Wheat Penny

Understanding the distinctive characteristics of the 1927 wheat penny is essential for accurate identification and valuation.

The Obverse of the 1927 Wheat Penny

On the obverse of the 1927 wheat penny is the portrait of Abraham Lincoln designed by Victor Brenner. The former president is depicted facing right in stunning detail. To the right of the portrait, in the lower half of the coin, is the minting date of 1927.

The country’s motto, IN GOD WE TRUST, appears arching over the top outer edge of the coin. The word LIBERTY is inscribed on the left side behind Lincoln’s portrait.

On closer inspection, you will notice the designer’s initials VDB where the rim cuts off Lincoln’s shoulder. These initials were restored in 1918 wheat pennies and appear on the 1927 coins as well. The mint mark on Denver and San Francisco coins appears below the minting date. On Philadelphia pennies, this space is empty.

The Reverse of the 1927 Wheat Penny

The reverse side of the wheat penny features two durum wheat ears, which give the coin its nickname. The wheat ears curve along both of the coin’s edges. These two stalks of durum wheat frame the words “ONE CENT” and “UNITED STATES OF AMERICA.”

In the center is an inscription that marks the single-cent face value via the words “ONE CENT.” Directly below the face value is an inscription which reads “UNITED STATES OF AMERICA.” Rounding out the reverse side is an inscription of the Latin phrase “E PLURIBUS UNUM” along the top edge.

Other Features of the 1927 Wheat Penny

The 1927 Lincoln wheat penny is comprised of 95% copper and 5% tin and zinc. It weighs 3.11 grams and measures 19.00 millimeters in diameter. The coin features a plain edge design.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

 

1927 Wheat Penny Mintage & Survival Data

The 1927 wheat penny production data reveals collecting dynamics across three mint facilities. Philadelphia’s overwhelming 144.4 million coin output dominates raw numbers but shows the lowest survival rate at 0.0028% — demonstrating how extensive circulation destroyed most common examples over nearly a century. Denver’s moderate 27.17 million mintage achieved a slightly better 0.0047% survival rate, while San Francisco’s constrained 14.28 million production yielded the highest survival percentage at 0.0081%, though still representing extreme rarity in absolute terms.

The 1927 occupies solid middle ground within the wheat penny series, lacking the prestige of key early dates like the 1909-S VDB but offering genuine scarcity in higher grades. Because most 1927 cents saw decades of active use in daily commerce, lightly worn examples dominate surviving populations today. These coins still turn up regularly in old rolls and inherited collections, making them enjoyable finds for modern hunters.

Investment potential favors the 1927-S due to its combination of restricted production and superior survival dynamics, while Denver issues provide stable middle-tier appreciation and Philadelphia coins serve primarily as affordable series completion tools.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

 

The Easy Way to Know Your 1927 Wheat Penny Value

Circulated grades range from Good (G-4) — showing basic outline visibility — to Extremely Fine (XF-40) exhibiting only high-point wear. Uncirculated specimens (MS-60 through MS-70) must display no friction evidence despite possible contact marks or toning variations. MS stands for “Mint State,” meaning the coin was never spent or circulated.

Third-party certification through PCGS or NGC proves essential for 1927 wheat pennies, particularly scarce San Francisco issues. These services provide authentication guarantees, precise grade determinations, and the crucial color designations (Red, Red-Brown, Brown) that can mean the difference between a $200 coin and a $20,000 one. Professional grading significantly enhances market value and resale potential.

An important warning for buyers: the most common forgery involves adding a “D” or “S” mint mark to a genuine 1927 Philadelphia coin. Under magnification, a genuine mint mark shows strike characteristics consistent with the rest of the coin. An added mint mark may appear “stuck on” or surrounded by microscopic tool marks — always authenticate any uncirculated branch-mint example before purchasing.

For preliminary assessment and instant valuation guidance, collectors can utilize tools like our CoinValueChecker APP to quickly evaluate their coins’ basic characteristics and potential worth.

 

1927 Wheat Penny Value Guides

The 1927 wheat penny was produced at three U.S. Mint facilities, each creating distinct varieties identifiable by their mint marks and production characteristics. These varieties differ significantly in mintage numbers, survival rates, and current market values, making mint mark identification crucial for collectors.

1927 Wheat Penny Varieties:

• 1927 (No Mint Mark) — Philadelphia Mint
• 1927-D — Denver Mint
• 1927-S — San Francisco Mint

Also Read: Lincoln Wheat Penny Value (1909–1958)

 

1927 No Mint Mark Wheat Penny Value

Philadelphia coins from 1927 were typically well-struck and attractive, featuring crisp lettering along edges and bold Lincoln portraits — a marked contrast to San Francisco’s frequent poor strikes from worn dies. The collector record for this variety is a remarkable $40,800, achieved in January 2025 by a PCGS MS68 Red example, establishing a new benchmark for the Philadelphia issue. In a separate 2022 sale, a PCGS MS67 Red example realized $3,120 at Heritage Auctions, demonstrating consistent strong demand for premium-grade Philadelphia coins.

Collectors should be aware that population data shows these coins become genuinely scarce above MS66 Red. Below that level, Philadelphia examples are readily available and affordable — making them ideal entry points for new collectors building a Lincoln cent date set.

Looking at the recent auction performances, this 1927 wheat penny has achieved some truly remarkable prices that showcase its hidden potential among collectors.

The steady monthly activity levels show this isn’t just occasional collector interest — it’s sustained market demand that keeps dealers actively sourcing quality specimens.

 

1927-D Wheat Penny Value

The 1927-D wheat penny holds a pivotal position in Denver Mint history as the first year to exhibit consistently excellent strike quality, marking the end of the chronic die erosion and die cracking problems that plagued earlier Denver productions. This technical improvement makes 1927-D specimens notably superior to earlier Denver cents, with crisp details and well-defined features becoming the new standard rather than the exception.

With a moderate mintage of 27,170,000 coins — roughly 19% of total 1927 production — the Denver variety occupies the middle ground between Philadelphia’s abundant 144.4 million and San Francisco’s scarce 14.3 million. According to PCGS CoinFacts, the 1927-D is fairly easy to obtain in circulated grades and up to about MS64, but it begins to be genuinely scarce in MS65, especially with full Red surfaces. Anything grading higher than MS65 is very hard to come by. A February 2023 sale at GreatCollections demonstrated this scarcity clearly, when a 1927-D MS65+RD CAC example realized $11,250 — highlighting its status as a specialist “sleeper” date.

Collector interest focuses particularly on “Full Red” specimens, which command substantial premiums due to Denver’s notorious difficulty producing high-grade red copper coins. Auction records confirm this scarcity, with an MS66+RB example achieving $6,300 and MS65+RD specimens reaching $7,800.

Recent sales highlight the growing premium collectors place on this Denver variety.

Market activity has surged significantly as more numismatists discover its appeal.

 

1927-S Wheat Penny Value

The 1927-S wheat penny stands as the scarcest variety of the year with only 14,276,000 minted — representing less than 8% of total 1927 production. Despite that 14 million figure not being tiny in absolute terms, what truly sets this coin apart is a severe quality bottleneck: PCGS expert commentary describes the strike quality as “so often poor,” and to date, PCGS has not graded a single 1927-S example above MS65 in any color designation. That hard ceiling makes any coin above MS64 a legitimate condition rarity, not merely a scarce date.

The striking deficiencies typically appear as soft detail in Lincoln’s facial features and poorly resolved wheat stalk lines on the reverse. San Francisco used worn dies that year, so finding an example with sharp, well-defined details requires careful cherry-picking. Well-struck examples command meaningful premiums even over other 1927-S specimens of the same technical grade.

The 1927-S is also particularly prone to “woodgrain” toning — distinctive alternating light and dark streaks resembling wood grain that occur on San Francisco copper issues due to inconsistent alloy mixing during planchet preparation. These “woodie” examples are fascinating to specialists. At the top of the market, an MS65+RD specimen brought $36,000 at Heritage Auctions in August 2022, while a CAC-approved MS65+RD example achieved a record-setting $52,875 at GreatCollections in February 2023. Fewer than 100 coins have ever been certified at MS66 Red or higher — making top-grade survivors genuine treasures.

Premium auction results underscore this variety’s exceptional desirability among collectors.

Bidding competition has heated up as collectors recognize its true scarcity.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Rare 1927 Wheat Penny Error List

Even common 1927 wheat pennies can hide valuable minting errors. Production mistakes occurred across all three facilities and can significantly increase a coin’s worth. Here are the key error types collectors should watch for.

1. 1927 DDO FS-101 Error

The 1927 DDO FS-101 is a doubled die obverse (DDO) variety — meaning the coin die received multiple impressions from the master hub at slightly different angles during the die-making process. This is a different mechanism from simple “machine doubling,” which produces flat shelf-like doubling of no value. True hub doubling creates raised, rounded, well-defined doubling visible under magnification.

On this variety, the doubling is most visible in the letters “LIB” within LIBERTY, with clear separation also showing in “IN GOD WE TRUST” and in the date numerals “2” and “7.” Lincoln’s eyelid also shows a subtle but noticeable doubled outline. The Cherrypickers’ Guide to Rare Die Varieties and CONECA both list this variety as a confirmed hub-doubled die.

Values range from $10–$25 for minor examples to $250+ for dramatic specimens. A documented MS64 Red example achieved $2,645 at auction in 2010, confirming strong collector demand for authenticated examples.

2. 1927-D/D RPM FS-501 Error

The 1927-D/D RPM FS-501 is a repunched mint mark (RPM) variety, exclusive to the Denver facility. An RPM occurs when the “D” mint mark was stamped onto the die more than once in slightly different positions. On this “D/D North” variety, the original weaker “D” impression sits slightly below a stronger secondary “D” punched just north (above) the first. Both impressions are visible under magnification, creating a clearly overlapping doubled mint mark effect.

RPM errors were common across the entire Lincoln cent series because mint workers hand-punched individual mint marks into each die — giving ample opportunity for slight misalignment. This variety typically commands $3–$10 in circulated grades, with a documented MS64 Red-Brown specimen reaching $1,175 at auction.

3. 1927 Off-Center Strike Error

Off-center strikes occur when the planchet (blank coin) is not properly centered between the dies when struck. The result is a coin with part of the design missing — replaced by a blank crescent-shaped area of metal.

Minor off-center examples (1%–4%) show only a slightly missing rim and carry little premium. Once the offset reaches 5%–10%, collector interest begins and values start at $10–$25. Dramatic off-center strikes of 50% or more — where half the design is missing but the date is still fully visible — can fetch $100 or more. The date being visible is critical: a dateless off-center wheat penny is worth significantly less.

4. 1927 Lamination Error

Lamination errors occur when impurities, gas bubbles, or contaminants become trapped within the copper alloy during planchet strip preparation. Over time — sometimes decades later — the coin’s surface begins to peel, crack, or flake along its horizontal axis. On a 1927 penny, you may see raised strips of metal, missing surface patches, or visible cracks running across Lincoln’s portrait or the reverse wheat stalks.

Small laminations on common wheat pennies add minimal premium. Larger, more dramatic examples — especially those that cover significant portions of a key design element — can bring $50–$150+ depending on visual impact and overall grade. Lamination errors do not require the coin to be otherwise high-grade to be collectible.

5. 1927-D Repunched Mint Mark (Other RPM Varieties)

Beyond the FS-501 listed above, several additional RPM varieties exist for the 1927-D. These are documented in the CONECA Master Listing for Lincoln cents and referenced in the Cherrypickers’ Guide. In circulated grades, most fetch $3–$10, making them affordable entry points for variety collectors. More dramatically shifted examples in higher grades can reach $840 or more, according to documented sales. Always use magnification to examine the area below the date for signs of doubling or overlapping in the “D” mint mark.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Where to Sell Your 1927 Wheat Penny?

Now that you know the value of your 1927 wheat penny, you may be wondering where to sell it. Don’t worry — here’s a resource covering all the main venues with their pros and cons.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1927 Wheat Penny Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

Certified MS-65 Red examples from 1920s wheat cents have climbed 20–50% since 2014, according to market tracking data, with digital auction platforms driving broader collector awareness. Experts note that as supplies of high-grade survivors dwindle — particularly for the condition-rarity 1927-S — continued appreciation is likely for premium examples.

 

FAQ About 1927 Wheat Penny Value

1. How much is a 1927 penny worth right now?

Value depends on mint mark, color designation, and grade. A heavily worn Philadelphia example (no mint mark) is worth about $0.20–$0.35. A lightly worn coin brings $1–$2. Uncirculated examples start at $10–$20 for common grades, rising to $40,800 for the record MS68 Red Philadelphia coin sold in January 2025. The 1927-S holds the overall record at $52,875 for an MS65+RD CAC example sold at GreatCollections in February 2023.

2. Is a 1927 penny rare?

In circulated condition, no — over 185 million were minted across three facilities, and worn examples turn up regularly in old collections. However, the 1927-S becomes genuinely rare in Mint State, and no example of any 1927-S has ever been certified above MS65 by PCGS in any color designation. That makes gem-quality San Francisco coins a true condition rarity, regardless of the large original mintage.

3. Which 1927 penny mint mark is most valuable?

The 1927-S (San Francisco) is the most valuable variety due to its low mintage of only 14,276,000 coins combined with consistently poor strike quality. In higher grades, especially MS65 and above with original Red surfaces, the 1927-S commands prices many times higher than Philadelphia or Denver examples at the same grade. The top auction result of $52,875 confirms its standing as the key variety for this year.

4. What does “RD,” “RB,” and “BN” mean on a graded wheat penny?

These are color designations assigned by grading services like PCGS and NGC. RD (Red) means the coin retains 95%+ of its original copper luster — the most valuable designation. RB (Red-Brown) means 5–95% original red color remains, offering a middle-ground price. BN (Brown) means less than 5% original red color — typical for circulated coins, and the least valuable of the three. A 1927-S MS64 RD can be worth three to five times more than the same coin in MS64 BN.

5. What are the most valuable 1927 wheat penny errors?

The top documented errors include: the 1927 DDO FS-101 doubled die obverse (up to $2,645 in MS64 RD); the 1927-D/D RPM FS-501 repunched mint mark (up to $1,175 in MS64 RB); off-center strikes at 50%+ offset with visible date ($100+); lamination errors with dramatic surface peeling ($50–$150+); and additional 1927-D RPM varieties documented by CONECA reaching $840. Always have suspected errors authenticated by PCGS or NGC before purchasing or selling.

6. How do I tell a genuine mint mark from a fake one on a 1927 penny?

Under magnification (10x or higher), a genuine mint mark shows strike characteristics consistent with the rest of the coin — the same metal flow, texture, and surface quality. A fake added mint mark often looks “pasted on,” shows microscopic tool marks or adhesive residue around its base, and may have a different surface texture than the surrounding field. Any uncirculated 1927-D or 1927-S should be authenticated by PCGS or NGC before you buy or sell, given the value difference between Philadelphia and branch-mint coins.

7. Is it worth paying to have my 1927 penny professionally graded?

Professional grading through PCGS or NGC typically costs $50–$150+ per coin when you factor in membership fees, submission fees, and shipping. It only makes financial sense if your coin appears to be worth $200 or more in its current state. Good candidates include: uncirculated examples with original Red color, any coin showing suspected errors or varieties, 1927-S examples in Fine grade or better, and any coin you plan to sell at a major auction house or to a dealer for top dollar.

8. Were any 1927 pennies struck in proof?

No. The U.S. Mint suspended proof coin production from 1916 to 1936, so no proof versions of the 1927 wheat penny exist. All 1927 pennies are regular business strike coins produced for circulation. If you encounter a coin described as a “1927 proof penny,” it is either misidentified or misrepresented — exercise caution.

9. Can cleaning a 1927 wheat penny destroy its value?

Yes — significantly. Grading services like PCGS and NGC will return cleaned coins with a “Details” grade (for example, “XF Details — Cleaned”), which dramatically reduces resale value. A documented example: a 1927-S graded “PCGS UNC Detail (Cleaned)” sold for just $335 — a fraction of what a problem-free MS63 Brown coin would bring. Cleaning creates microscopic hairline scratches that cannot be undone. Never clean a coin before having it evaluated.

10. How do I identify the “woodgrain” error on a 1927-S penny?

“Woodgrain” or “woodie” toning appears as alternating light and dark streaks across the coin’s surface, resembling the grain pattern in a piece of wood. On 1927-S pennies, this effect is caused by incomplete mixing of the copper alloy during planchet preparation at the San Francisco Mint. It appears more frequently on San Francisco issues than on Philadelphia or Denver coins. A genuine woodgrain pattern is part of the original coin surface, not post-mint damage, and can actually add collector appeal to an otherwise average 1927-S example. Authentication by a major grading service confirms whether the toning is original.