The U.S. Mint struck over 9.5 billion Lincoln pennies in 1987, making this one of the highest-production years in cent history. Philadelphia contributed 4,682,466,931 coins, while Denver topped even that with 4,879,389,514 — and San Francisco added 4,227,728 specially struck proof coins for collectors.

Most of these pennies are worth exactly one cent today. But a small number — graded perfectly, struck with errors, or carrying the right color designation — have sold for hundreds or even thousands of dollars at major auction houses.

Here I will walk you through everything you need to know about the 1987 penny value, from common circulated coins all the way up to the $12,000 record-breaking specimen.

 

1987 Penny Value By Variety

This comprehensive value chart displays current market prices for 1987 Lincoln pennies across different mint marks and condition grades, from circulated examples to proof specimens.

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 1987 Penny Worth Money

This chart showcases the most valuable 1987 pennies, revealing how dramatically price can swing based on condition, color, and variety.

The standout performer is the 1987-D/D RPM FS-501 graded MS67, which commanded an impressive $1,800 at auction — making it the crown jewel among 1987 pennies. The second most valuable is the 1987 Philadelphia RD in MS69 at $870, followed by the 1987-D RD in MS69 at $576 (with a separate sale in 2023 of a 1987-D MS69RD reportedly reaching $12,000).

What makes 1987 penny collecting especially interesting is how the same basic coin can range from one cent to over $12,000 depending on grade, color, and variety.

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

 

History Of The 1987 Penny

The 1987 penny was produced five years into a new era for American coinage. In 1982, rising copper prices forced the U.S. Mint to abandon the traditional 95% copper composition and switch to a zinc-core design — a coin consisting of 99.2% zinc with only a thin copper plating on the outside.

By 1987, this transition was complete and fully settled. Every Lincoln cent that year was struck using this copper-plated zinc format, weighing exactly 2.5 grams compared to the old 3.11-gram copper coins.

The obverse design still carried Victor David Brenner’s classic portrait of Abraham Lincoln, first introduced on the cent in 1909. The reverse continued Frank Gasparro’s Lincoln Memorial design, which had been in place since 1959.

One historically notable fact: Gasparro designed the reverse without ever having visited the Lincoln Memorial in person — yet his rendering became one of the most recognizable coin reverses in U.S. history.

Philadelphia and Denver produced circulation strikes; San Francisco struck proof-only coins for collector sets. The switch to computerized mint-mark punching came after 1989, which is why 1987 coins are among the last years where hand-punched mint marks — and the resulting RPM (Repunched Mint Mark) errors — were possible.

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

 

Is Your 1987 Penny Rare?

Use our CoinValueChecker App to verify current market values and detailed rarity information for your 1987 Lincoln cents.

 

Key Features Of The 1987 Penny

Understanding the physical characteristics of the 1987 penny helps you identify what you have and estimate its value. Knowing the color designation, composition, and design details is the first step toward spotting a potentially valuable coin.

The Obverse Of The 1987 Penny

The obverse — or heads side — shows a right-facing portrait of President Abraham Lincoln. Victor David Brenner based this design on a photograph and a plaque he had previously sculpted, giving the portrait an unusual degree of accuracy for the era.

The motto IN GOD WE TRUST arcs along the top rim. The word LIBERTY appears on the left side, and the date 1987 is placed to the right of Lincoln’s profile.

The Reverse Of The 1987 Penny

The reverse features the Lincoln Memorial prominently centered on the coin’s surface. If you look carefully inside the Memorial, you can spot a tiny seated statue of Lincoln — making this one of the only U.S. coins where the same person appears twice.

Designer Frank Gasparro’s initials “FG” are tucked near the base of the staircase at the far right. UNITED STATES OF AMERICA runs along the top, E PLURIBUS UNUM (meaning “Out of many, one”) is inscribed below it, and ONE CENT appears at the bottom rim.

Other Features Of The 1987 Penny

The 1987 penny measures 19.00 mm in diameter, weighs 2.50 grams, and has a plain (smooth) edge. Its metal content is 97.5% zinc with a 2.5% copper outer plating.

The copper layer is extremely thin — and that thinness is why color grading matters so much for this series. Philadelphia pennies carry no mint mark, while Denver coins bear a “D” and San Francisco proofs carry an “S,” all located on the obverse below the date.

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

 

1987 Penny Value By Color: RD, RB, and BN Explained

One factor the original article did not fully explain is how color designation dramatically affects what collectors pay for a 1987 penny. PCGS and NGC — the two main coin grading services — assign one of three color designations to copper-plated cents:

Red (RD) means the coin retains at least 95% of its original copper luster. RD coins are the most desirable and command the highest premiums. A 1987 MS69RD sold at Heritage Auctions in 2022 for $870, and PCGS recorded a $1,920 sale of an MS69RD in April 2025.

Red-Brown (RB) indicates the coin has between 5% and 95% original red color remaining, with some browning. An MS65 RB 1987-D sold for just $15 at auction, showing how modest the premiums are for this category.

Brown (BN) means less than 5% of the original red color survives. BN coins trade close to face value in lower grades, though a 1987-D MS64 BN did sell for $1,093 in 2007 — demonstrating that even BN coins can surprise at the top of the grading scale.

The takeaway: always aim for RD. A 1987 penny in MS65 RD is worth many times more than the same coin in MS65 BN.

 

1987 Penny Mintage & Survival Data

The 1987 penny production figures reveal massive circulation strikes from both Philadelphia and Denver. Together the two mints produced over 9.56 billion coins — more than any nearby year except 1983, 1984, and 1985.

San Francisco struck just 4,227,728 proof specimens, representing less than 0.05% of total 1987 penny production. These proofs were only available in annual proof sets sold directly to collectors — they were never placed into circulation.

Survival rates tell an interesting story. Regular circulation strikes from both mints show an estimated 30% survival rate, reflecting nearly four decades of attrition through loss, wear, and discarding. But those billions of starting coins mean survivors still number in the hundreds of millions.

Proof coins demonstrate exceptional preservation with roughly 85% survival — collectors tend to store them safely from the moment they receive them. However, their small original mintage means total surviving proof examples are still a tiny fraction of the overall population.

One important technical point: the zinc-core composition introduced in 1982 actually works against long-term high-grade survival. Zinc is prone to forming tiny gas bubbles beneath the copper plating — called “zinc blisters” — and a corrosion process can eat through the copper coating from the inside out. This means that even though billions of 1987 pennies exist, finding one in MS68 or MS69 RD with flawless surfaces is genuinely rare.

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

 

The Easy Way to Know Your 1987 Penny Value

Most 1987 pennies circulate at face value, but specific characteristics separate common coins from collectible treasures. High-grade uncirculated specimens, particularly those with full red luster, can command premiums. San Francisco proof coins with deep cameo contrast are especially desirable. Error varieties—including doubled dies, off-center strikes, and planchet flaws—can dramatically increase value beyond typical examples.

Evaluating your 1987 penny means assessing strike quality, identifying subtle die varieties, and determining whether post-1982 composition affects collector interest—complexities that require numismatic expertise.

CoinValueChecker App simplifies everything. One quick photo delivers comprehensive analysis: mint identification, error detection, condition grading, and real-time market pricing. 

 

1987 Penny Value Guides

1987 Penny Types:

• 1987 No Mint Mark Penny – Philadelphia
• 1987-D Penny – Denver mint
• 1987-S DCAM Penny – San Francisco

The 1987 penny was minted at three U.S. facilities, each producing distinct varieties for collectors.

The Philadelphia mint produced coins without mint marks, while Denver created 1987-D pennies identifiable by their “D” marking. San Francisco contributed the premium 1987-S DCAM (Deep Cameo — meaning strong frosted devices against mirror-like fields) proof pennies.

Also Read: Value Of Old Pennies By Year (1959-Present)

 

1987 No Mint Mark Penny Value

The 1987 No Mint Mark penny was struck at the Philadelphia Mint, which has a long tradition of producing coins without an identifying mark. This practice dates to when Philadelphia was the only operating mint and no distinction was needed.

With 4,682,466,931 coins struck, circulated examples are worth face value. In uncirculated condition, most examples trade between $0.10 and $0.30. The premium difference between MS64 RD and MS69 RD is enormous — and that gap is driven almost entirely by the difficulty of achieving perfect surfaces on zinc-core coins.

The all-time PCGS auction record for a 1987 Philadelphia penny is a 2025 Heritage Auctions sale of an MS69RD at $1,920. Earlier examples include a 2022 Heritage sale at $870 for an MS69RD and a 2014 Heritage sale at $4,113 for another MS69RD — showing considerable price swings over time. An MS63 RB example fetched just $128 at auction, illustrating how steeply color and grade affect value.

Up to 40% of 1987 pennies submitted for professional grading fail to achieve high scores due to microscopic plating defects invisible to the naked eye. The PCGS population for MS68 RD grew by only about 15 examples over a 10-year span, confirming how genuinely scarce gem-quality survivors are.

 

1987-D Penny Value

The 1987-D penny carries the highest individual mintage of any 1987 Lincoln cent variety, at 4,879,389,514 coins struck at the Denver Mint. This “D” mint mark appears on the obverse, below the date.

Circulated 1987-D pennies without errors are worth face value. Uncirculated examples typically bring $0.10 to $0.30. However, the Denver Mint is noted for slightly cleaner field quality in 1987 compared to Philadelphia — giving the best Denver specimens a slight edge in the population race for the highest grades.

The all-time auction record for a 1987-D penny came in 2023, when a specimen certified MS69RD sold for $12,000 — the single most valuable 1987 penny ever recorded. By comparison, an MS65 RB sold for only $15, and a 2007 sale of an MS64 BN brought $1,093.

The compounded annual growth rate for MS67 RD specimens has been tracked at approximately 3.5%, while MS68 RD examples have appreciated at roughly 6.2% annually between 2018 and 2023.

 

1987-S DCAM Penny Value

The 1987-S DCAM penny is a Deep Cameo proof coin struck at San Francisco. “Deep Cameo” — abbreviated DCAM — describes a proof coin with strongly frosted, white design devices set against deeply mirrored fields. This contrast is what makes proof coins so visually striking compared to regular circulation strikes.

These coins were produced using high-tonnage presses that strike each planchet multiple times to maximize sharpness and reflectivity. They were sold exclusively as part of annual proof sets, never released for general circulation.

With 4,227,728 proof pennies struck in 1987, these coins are far more common than older or lower-mintage proof issues. That limits their ceiling. The auction record stands at $2,070 for a PR70 DCAM example sold in 2004. Current standard-grade proof examples trade for approximately $5 to $14 in typical grades.

One contrast worth noting: because so many San Francisco proof pennies survive in high grades, a PR69 DCAM commands very modest premiums — only a perfect PR70 DCAM triggers meaningful collector competition.

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

 

Rare 1987 Penny Error List

1987 pennies present several well-documented error types that collectors actively pursue. Because the mint-mark was still hand-punched in 1987, RPM (Repunched Mint Mark) errors were still possible — and 1987 is one of the last years before computerized punching largely eliminated them after 1989.

Understanding these specific errors helps you tell a one-cent coin from a coin worth hundreds of dollars.

1. 1987-D/D RPM FS-501

The 1987-D/D RPM FS-501 is the most valuable regular error in the 1987 cent series. RPM stands for Repunched Mint Mark — it occurs when the “D” mint-mark punch was applied to a working die more than once, with a slight misalignment between strikes, leaving visible evidence of a doubled “D” impression.

The FS-501 designation comes from the Fivaz-Stanton variety reference system (published in the Cherrypickers’ Guide to Rare Die Varieties). Numbers in the 501–699 range identify mint-mark varieties specifically. The FS-501 shows the secondary “D” positioned to the northwest of the primary mark.

To identify it, use a magnifier or loupe and look below the date for a second “D” outline overlapping or shadowing the primary mint mark. Authentic RPM errors show clean, mechanically consistent doubling — not smearing from worn dies or post-mint damage.

A specimen graded MS67 sold for $1,800 at auction, making it the crown jewel of 1987 penny collecting. Lower-grade examples trade between $50 and $150. The 1987-D/D is one of the well-documented RPMs in Lincoln cent history, alongside 1968-D/D examples.

2. 1987 Doubled Die Obverse (DDO)

The 1987 DDO — Doubled Die Obverse — occurs when a working hub impressed the design onto a die more than once at slightly different angles. This transfers visible doubling onto every coin struck from that die.

On 1987 pennies, doubling is typically subtle but visible under magnification in Lincoln’s date, the word LIBERTY, or the inscription IN GOD WE TRUST. Unlike the famous 1969-S or 1972 DDO varieties, 1987 DDO coins show light rather than dramatic doubling — which is why none have broken into the hundreds-of-thousands-of-dollars territory.

Most 1987 DDO pennies sell for $25 to $50 in circulated condition. Stronger examples with more visible doubling can reach higher, so careful examination under a loupe is always worthwhile.

3. 1987 Off-Center Strike Error

Off-center pennies occur when the planchet (blank coin disc) shifts position before the dies strike it. The result is a coin where part of the design is missing and replaced by a blank crescent of metal.

The most collectible off-center pennies are 40% to 60% off-center with the full date still visible — missing the date drops value significantly. A 1987 off-center example at 10% to 20% typically sells for $10 to $20. A 40% off-center MS64 example sold for approximately $90 at Heritage Auctions. A coin that is 50% off-center with a complete date can reach $75 to $100.

4. 1987 Unplated Zinc Error

This error became possible only after the 1982 composition switch. If a zinc planchet completely missed the copper electroplating stage before being struck, the result is a coin with a silver-gray appearance instead of the expected copper color.

These are sometimes mistaken for the result of school experiments where students dissolve the copper plating in acid — so authentication is critical. A genuine unplated cent weighs approximately 2.5 grams, has struck design details, and shows a texture consistent with a zinc surface rather than a chemically etched one.

A 1987 unplated penny typically sells for $20 to $150. An MS63 example with approximately 80% of the surface unplated sold for $97 at Heritage Auctions. Fully unplated high-grade examples command the strongest premiums.

5. 1987 BIE Error

The BIE error is a die-crack variety exclusive to Lincoln cents. A small vertical crack develops in the die between the letters “B” and “E” in the word LIBERTY, creating what looks like an extra letter “I” — making the inscription appear to read “LIBIERTY.”

Over 1,000 BIE varieties have been documented across the Lincoln cent series. They form due to metal fatigue in the thin die area between those letters. For 1987, BIE pennies typically sell for $3 to $10 — making them one of the most beginner-friendly error varieties to collect.

6. 1987 Broadstrike Error

A broadstrike occurs when the retaining collar — the ring-shaped tool that gives a coin its edge and keeps metal from spreading — fails to engage during striking. Without it, the metal flows outward, creating a coin that is slightly wider and flatter than normal.

Broadstrikes retain their full design on both sides but lack a proper raised rim. A normal penny measures 19.05 mm; a broadstrike will measure noticeably more. Most 1987 broadstrike pennies sell for $20 to $75, with dramatic examples in uncirculated condition occasionally reaching $100 or more.

7. 1987 Die Crack and Cud Errors

Die cracks form as steel striking dies wear out from thousands of impacts. Cracks appear as raised lines across the coin’s surface (they are raised, not recessed). When a section of the die’s edge breaks away entirely, the void fills with metal during striking, creating a raised featureless blob called a “cud.”

Minor 1987 die cracks are worth $3 to $25 depending on prominence. Major cuds — especially those touching the rim and affecting significant design area — can command $40 to $60 on the secondary market, with dramatic examples occasionally reaching $100 to $200.

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

 

Where To Sell Your 1987 Penny?

Now that you’ve determined your coins’ worth, are you wondering about the best online selling platforms? I’ve researched and gathered information on top coin-selling websites, complete with detailed overviews, advantages, and disadvantages for each option.

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

 

1987 Penny Market Trend

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

 

FAQ About The 1987 Penny

1. Are any 1987 pennies worth money?

Yes, certain 1987 pennies can be worth significant amounts. The record sale is $12,000 for a 1987-D penny graded MS69RD in 2023. A 1987-D/D RPM FS-501 in MS67 sold for $1,800. Even a standard Philadelphia MS69RD reached $1,920 at Heritage Auctions in April 2025. Most circulated coins are worth face value, but high-grade RD examples and documented errors can command serious premiums.

2. How much copper is in a 1987 penny?

Very little. The 1987 penny is 97.5% zinc with only a 2.5% copper outer plating. The total weight is 2.5 grams. If you find an old penny that weighs 3.11 grams, it predates the 1982 composition change and is made from 95% copper — a completely different coin.

3. Where is the mint mark on a 1987 penny?

The mint mark sits on the obverse (heads side) of the coin, just below the date on the right side. Only Denver (“D”) and San Francisco (“S”) coins carry a mint mark. Philadelphia pennies have no mint mark — this is normal, not a flaw.

4. What does RD, RB, and BN mean on a 1987 penny grade?

These are color designations assigned by PCGS and NGC. RD (Red) means the coin retains at least 95% of its original copper luster — the most valuable category. RB (Red-Brown) means 5% to 95% red color remains. BN (Brown) means the copper has largely oxidized. A 1987 penny graded MS65 RD can be worth many times more than the same coin graded MS65 BN.

5. Why is the 1987 penny hard to find in high grades like MS68 or MS69?

The zinc-core composition introduced in 1982 makes these coins prone to surface issues that prevent high grades. Tiny gas bubbles trapped during electroplating expand over time into “zinc blisters.” A process called zinc corrosion can eat through the copper plating from the inside out. Up to 40% of 1987 pennies submitted to professional grading services fail to achieve high scores because of microscopic plating defects — invisible to the naked eye but caught under grading-room magnification.

6. What is the 1987-D/D RPM FS-501 and how do I spot it?

The RPM (Repunched Mint Mark) FS-501 is a documented variety where the “D” mint mark was punched into the die more than once with slight misalignment. Using a 5x–10x loupe, look for a secondary “D” impression to the northwest of the primary “D” below the date. The FS-501 cataloging comes from the Cherrypickers’ Guide to Rare Die Varieties by Bill Fivaz and J.T. Stanton. Graded MS67 examples have sold for $1,800.

7. What is a 1987 proof penny and how is it different from a regular penny?

The 1987-S proof penny was produced exclusively at the San Francisco Mint for collector sets. Proof coins are struck multiple times by specially polished dies on specially prepared planchets, giving them mirror-like fields (backgrounds) and frosted raised designs. The DCAM (Deep Cameo) designation indicates a strong contrast between the two surfaces. The 1987-S was never released into circulation. With 4,227,728 struck, the record auction sale is $2,070 for a PR70 DCAM from 2004.

8. Is a silver-colored 1987 penny worth money?

It depends. A 1987 penny that appears silver-gray could be a genuine unplated zinc error — worth $20 to $150 or more if authenticated. However, many silver-looking pennies are the result of school science experiments where students dissolve the copper plating in acid. A genuine unplated error should weigh approximately 2.5 grams, show crisp struck design details, and have a consistent zinc surface texture. If in doubt, submit to PCGS or NGC for professional authentication.

9. How does the 1987 penny compare in mintage to other years?

The 1987 total of about 9.56 billion coins (Philadelphia + Denver) was actually lower than several nearby years. The 1983 combined mintage exceeded 14 billion, and 1984 topped 13 billion. By contrast, 1987 was a relatively lighter production year — though “relatively lighter” still means billions of surviving coins. The lower 1987 mintage compared to peak years slightly benefits condition-rarity at the top grades.

10. Should I clean my 1987 penny to improve its value?

Never clean a coin you think might have value. Cleaning removes the original surface patina and creates hairline scratches visible under magnification. A cleaned coin will be downgraded or labeled “details” by PCGS and NGC, dramatically reducing its market value regardless of original grade. Even a coin that looks dull or toned is worth more in original, uncleaned condition than a polished one.