1927 Wheat Penny Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

1927 Wheat Penny value ranges from $0.01 face value to $40,800. That record was set by an MS-68 Red example sold at Heritage Auctions in January 2025 — one of the finest known, with full original copper color and virtually no marks. Not sure what yours is worth? Upload a photo of your coin below and get a quick value range. Then scroll down to see what 1927 Wheat Pennies are actually selling for on eBay right now.

 

1927 Wheat Penny Value By Variety

Three varieties exist for the 1927 penny — no mint mark (Philadelphia), “D” (Denver), and “S” (San Francisco). If you know your coin’s grade, check the exact price in the Value Guides section below.

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

 

Top 10 Most Valuable 1927 Wheat Penny Worth Money

Look at the gap between the #1 and #2 coins on that list. One grade point at the top of the scale can mean tens of thousands of dollars. That’s the reality of gem-grade wheat pennies.

If you’re looking to buy into this date, I think the sweet spot is the MS64–MS65 range. Prices are still accessible, and there’s real room for appreciation. Denver pieces make a solid middle-ground play, while 1927-S coins offer the biggest upside if you’re patient enough to wait for the right one. Whatever you target, prioritize original copper-red surfaces — color designation alone can double or triple a coin’s value overnight.

 

History of the 1927 Wheat Penny

By 1927, the Lincoln wheat penny was an established workhorse of American commerce. The design dated back to 1909, when President Theodore Roosevelt tapped sculptor Victor David Brenner to bring more artistry to U.S. coinage.

Brenner’s design broke new ground — the first circulating U.S. coin with a real president’s portrait. He based Lincoln’s profile on his own 1907 bronze plaque. The reverse featured two wheat stalks symbolizing national prosperity. But the 1909 launch turned chaotic when Brenner’s prominent “V.D.B.” initials triggered public backlash. People saw it as advertising on money.

The Mint pulled the initials just ten days in. That created an instant rarity: Philadelphia had already struck 28 million VDB pennies, but San Francisco managed only 480,000. The initials came back in 1918 — much smaller, tucked onto Lincoln’s shoulder — and stayed there through 1927 and beyond.

By 1927, America was riding high. Stock speculation was booming, consumer credit flowed freely, and the Lincoln cent saw heavy daily use everywhere. These pennies were jingling in pockets when Lindbergh touched down in Paris that May. Nobody knew the October 1929 crash was just around the corner. All three mints — Philadelphia, Denver, and San Francisco — kept cranking out millions using the same 95% copper composition the series had used since day one.

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

 

Is Your 1927 Wheat Penny Rare?

Here’s what catches people off guard: the 1927-S had 14.28 million struck, which sounds like a lot. But PCGS has never graded a single 1927-S above MS65 in any color. That hard ceiling turns a “common date” into a genuine condition rarity once you cross into gem territory. Meanwhile, Philadelphia’s 144.4 million mintage means worn examples are everywhere — but try finding one in MS67 Red or better. Good luck.

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

 

Key Features of the 1927 Wheat Penny

Knowing what to look for on your 1927 penny helps you spot varieties, errors, and condition details that affect value.

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

Flip it over and you’ll see the two durum wheat ears that give this coin its nickname. They curve along both edges, framing the words “ONE CENT” and “UNITED STATES OF AMERICA” in the center. Below the face value sits “UNITED STATES OF AMERICA,” and along the top edge you’ll find the Latin phrase “E PLURIBUS UNUM.”

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

Philadelphia pumped out 144.4 million pennies in 1927 — yet only 0.0028% survive in collectible condition today. That’s roughly 4,000 coins out of 144 million. Nearly a century of pocket change duty wiped out the rest. Denver’s 27.17 million mintage fared slightly better at 0.0047% survival, while San Francisco’s 14.28 million production shows the highest survival rate at 0.0081%. Still vanishingly small in absolute numbers.

Most surviving 1927 cents are well-worn. They saw decades of daily use before anyone thought to save them. You’ll still find them in old rolls and inherited collections, which makes them fun to hunt. But anything above MS64 gets scarce fast, especially for the S-mint.

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 run from Good (G-4) — where you can make out the basic outline — up to Extremely Fine (XF-40) with wear only on the high points. Uncirculated coins (MS-60 through MS-70) show zero friction, though they may have bag marks or toning. MS stands for “Mint State,” meaning the coin never saw a cash register.

Getting your coin slabbed by PCGS or NGC matters a lot for 1927 wheat pennies, especially the San Francisco issues. You get authentication, a precise grade, and — critically — a color designation (Red, Red-Brown, or Brown). That color call alone can be the difference between a $200 coin and a $20,000 one.

One warning: the most common fake involves tooling a “D” or “S” mint mark onto a genuine Philadelphia coin. Under 10x magnification, a real mint mark shows the same metal flow and texture as the rest of the coin. A tooled mint mark looks “stuck on” and often has tiny scratches or disturbed metal around its base. Always authenticate any uncirculated branch-mint example before buying.

For a quick preliminary check, you can use our Coin Value Checker APP to evaluate your coin’s basic characteristics and potential worth.

 

1927 Wheat Penny Value Guides

Three mint facilities produced the 1927 wheat penny. Each variety has different mintage numbers, survival rates, and market values, so identifying your mint mark is the first step.

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

Most collectors don’t expect a Philadelphia penny to hit five figures. But a PCGS MS68 Red example sold for $40,800 in January 2025 — setting a new record for the variety. A PCGS MS67 Red brought $3,120 at Heritage Auctions in 2022, showing steady demand at the top end.

Philadelphia coins from 1927 tend to be well-struck with crisp lettering and bold portraits — a nice contrast to the mushy strikes you often see from San Francisco that year. Below MS66 Red, these are readily available and affordable. That makes them perfect for new collectors building a Lincoln cent date set. Above MS66 Red, though, population data drops off a cliff.

Here’s how recent auction results have played out for this variety:

Consistent monthly trading activity confirms this is a coin dealers actively source — not just an occasional curiosity.

 

1927-D Wheat Penny Value

Here’s something most people don’t realize: 1927 was the year Denver finally got its act together on strike quality. Earlier Denver cents were plagued by die erosion and cracking. The 1927-D shows crisp details and well-defined features as the new standard, not the exception.

With 27,170,000 struck — roughly 19% of total 1927 production — the Denver variety sits between Philadelphia’s massive 144.4 million and San Francisco’s tight 14.3 million. According to PCGS CoinFacts, the 1927-D is easy enough to find in circulated grades and up through MS64. It gets genuinely scarce at MS65, especially with full Red surfaces. Above MS65? Very hard to come by. A 1927-D MS65+RD CAC example brought $11,250 at GreatCollections in February 2023, proving this is a sleeper date for specialists.

Full Red specimens carry big premiums because Denver had a tough time producing high-grade red copper coins. An MS66+RB example hit $6,300, and MS65+RD pieces have reached $7,800 at auction.

Recent sales show the growing premium collectors are paying for this Denver variety:

Trading activity has picked up as more collectors discover what this date has to offer.

 

1927-S Wheat Penny Value

Can you name another coin with 14 million struck that’s never been graded above MS65? That’s the 1927-S. Only 14,276,000 were minted — less than 8% of total 1927 production — and PCGS has never certified a single example above MS65 in any color designation. That hard ceiling makes anything above MS64 a legitimate condition rarity.

The problem was San Francisco’s worn dies. Strikes are often soft on Lincoln’s facial features and the reverse wheat stalk lines. Finding a sharp, well-defined example takes serious cherrypicking. When you do find one, it commands a meaningful premium over other 1927-S coins at the same technical grade.

Watch for “woodgrain” toning on these — distinctive light and dark streaks resembling wood grain, caused by inconsistent alloy mixing during planchet preparation. Specialists call them “woodies,” and they’re actually sought after. At the top of the market, an MS65+RD specimen brought $36,000 at Heritage Auctions in August 2022. A CAC-approved MS65+RD hit $52,875 at GreatCollections in February 2023. Fewer than 100 coins have ever been certified at MS66 Red or higher. We think this is one of the most underappreciated coins in the entire wheat penny series.

Top auction results tell the story of this variety’s desirability:

Competition among bidders has heated up as collectors recognize just how scarce top-grade examples really are.

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

 

Rare 1927 Wheat Penny Error List

Even a common 1927 penny can be hiding a valuable minting mistake. Errors happened at all three facilities, and some of them add serious money to a coin’s value. Here’s what to look for.

1. 1927 DDO FS-101 Error

This is a doubled die obverse (DDO) variety — the die got multiple impressions from the master hub at slightly different angles. Don’t confuse it with worthless machine doubling, which looks flat and shelf-like. True hub doubling is raised, rounded, and well-defined under magnification.

Where to look: the letters “LIB” in LIBERTY show the clearest doubling. You’ll also see separation in “IN GOD WE TRUST” and in the date numerals “2” and “7.” Lincoln’s eyelid shows a subtle doubled outline too. Both the Cherrypickers’ Guide and CONECA list this as a confirmed hub-doubled die.

Values run $10–$25 for minor examples up to $250+ for dramatic ones. A documented MS64 Red example brought $2,645 at auction in 2010.

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

This is a repunched mint mark (RPM) variety from Denver. The “D” was stamped onto the die more than once in slightly different positions. On this “D/D North” variety, the original weaker “D” sits slightly below a stronger secondary “D” punched just above it. Under magnification, you’ll see both impressions overlapping clearly.

RPMs were common across the whole Lincoln cent series because mint workers hand-punched each mint mark into the die individually. Plenty of room for error. This variety typically brings $3–$10 in circulated grades. A documented MS64 Red-Brown specimen reached $1,175 at auction.

3. 1927 Off-Center Strike Error

Off-center strikes happen when the blank planchet isn’t seated properly between the dies. You get a coin with part of the design missing — replaced by a blank crescent of metal.

Minor offsets (1%–4%) barely affect the rim and carry little premium. At 5%–10% off-center, collector interest kicks in and values start around $10–$25. Dramatic 50%+ off-center strikes — where half the design is gone but the date is still visible — can bring $100 or more. The date being readable is everything. Without it, the coin loses most of its premium.

4. 1927 Lamination Error

Lamination errors come from impurities, gas bubbles, or contaminants trapped in the copper alloy during planchet strip preparation. Over time — sometimes decades later — the surface starts peeling, cracking, or flaking along horizontal layers. On a 1927 penny, you might see raised metal strips, missing surface patches, or cracks running across Lincoln’s portrait or the wheat stalks.

Small laminations on common wheat pennies don’t add much. Larger, dramatic examples covering a key design element can bring $50–$150+ depending on visual impact and overall grade. The coin doesn’t need to be high-grade to be collectible as a lamination error.

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

Beyond the FS-501 listed above, several more RPM varieties exist for the 1927-D. CONECA’s Master Listing and the Cherrypickers’ Guide document them. Most bring $3–$10 in circulated grades — great entry points for variety collectors. More dramatically shifted examples in higher grades have reached $840. Grab a loupe and examine the area below the date for any signs of doubling or overlap 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, with digital auction platforms bringing in a wider pool of buyers. As high-grade survivors — especially the condition-rarity 1927-S — get absorbed into collections, expect continued appreciation for premium pieces.

 

FAQ About 1927 Wheat Penny Value

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

It depends on mint mark, color designation, and grade. A heavily worn Philadelphia example (no mint mark) runs about $0.20–$0.35. Lightly worn coins bring $1–$2. Uncirculated examples start at $10–$20, climbing all the way 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 show up regularly. In Mint State, it’s a different story. PCGS has never certified a single 1927-S above MS65 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). Low mintage of only 14,276,000 coins plus consistently poor strike quality creates a bottleneck in higher grades. In MS65 and above with original Red surfaces, the 1927-S commands prices many times higher than Philadelphia or Denver at the same grade. The $52,875 auction record confirms it as the key variety for this year.

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

These are color designations from PCGS and NGC. RD (Red) means 95%+ original copper luster — the most valuable. RB (Red-Brown) means 5–95% original red remains — a middle-ground price. BN (Brown) means less than 5% original red — typical for circulated coins and the least valuable. 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 10x or higher magnification, a genuine mint mark shows the same metal flow, texture, and surface quality as the rest of the coin. A fake added mint mark often looks “pasted on,” with microscopic tool marks or disturbed metal around its base and 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.

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

Grading through PCGS or NGC typically costs $50–$150+ per coin after membership, submission fees, and shipping. It only makes sense if your coin looks like it’s worth $200 or more. Good candidates: uncirculated examples with original Red color, coins showing suspected errors, 1927-S examples in Fine or better, and anything you plan to sell at auction or to a dealer for top dollar.

8. Were any 1927 pennies struck in proof?

No. The Mint suspended proof production from 1916 to 1936. All 1927 pennies are business strikes made for circulation. If someone offers you a “1927 proof penny,” it’s either misidentified or misrepresented.

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

Absolutely. PCGS and NGC will return cleaned coins with a “Details” grade (e.g., “XF Details — Cleaned”), which tanks resale value. A 1927-S graded “PCGS UNC Detail (Cleaned)” sold for just $335 — a fraction of what a problem-free MS63 Brown would bring. Cleaning creates microscopic hairline scratches you can’t undo. 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 shows up as alternating light and dark streaks across the surface, looking like the grain pattern in a piece of wood. On 1927-S pennies, it’s caused by incomplete mixing of the copper alloy during planchet preparation at San Francisco. It appears more often on S-mint issues than Philadelphia or Denver coins. A genuine woodgrain pattern is part of the original surface, not post-mint damage, and can actually add collector appeal. Authentication by a major grading service confirms whether the toning is original.