Coin Value Contents Table
Are you curious whether your 2023 Lincoln penny is worth more than face value?
You might be lucky to find out that your one-cent penny is worth hundreds or even thousands!
Yes, some rare Lincoln pennies are worth a lot but you must know what to look for to identify such high-value coins.
This guide will explain everything you need to know about the 2023 penny value, its history, and the coin’s features. You will also learn how to grade your Lincoln pennies and discover errors worth a premium.
So, let’s dive in and find out: How much is a 2023 penny worth?
2023 Penny Value Chart |
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| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 2023 No Mint Mark Penny Value | – | – | – | $30 |
| 2023-D Penny Value | – | – | – | $30 |
| 2023-S Proof Peny Value | – | – | – | $7 |
History of the 2023 Penny
The penny is one of the longest-running currencies in our country’s history.
The United States Mint produced the first pennies in 1909 to commemorate the centennial birth year of President Abraham Lincoln. It became the first circulating coin depicting a president, making this coin one of the most historically significant.
In 1905, the Mint commissioned a sculptor by the name of Augustus Saint-Gaudens to redesign some of the country’s coinage including the gold coins and the cent. Saint-Gaudens managed to submit two new designs for the gold coins but died before presenting any design for the cent.
After Saint-Gaudens’ passing, the Mint hired another sculptor, Victor David Brenner to design a new cent commemorating the late President Abraham Lincoln for his centennial birth anniversary.
The Mint eventually approved the design, which showed the late president in profile on the obverse and two wheat leaves on the reverse. The new coins were released into circulation in August 1909.
Brenner inserted his initials VDB at the bottom of the coin’s reverse but this turned out to be controversial with the public claiming the initials were too prominent. In response, the Mint removed the newly minted coins from circulation and released new ones without the VDB initials.
It was only in 1918 that the Mint restored the VDB initials, this time smaller, on the coin’s obverse close to Lincoln’s truncated shoulder.
The Lincoln cent was originally produced in 95 percent copper. But starting in 1982, in the face of high copper prices, the Mint changed the penny’s composition to zinc and an outer copper layer.
In 1959, after 50 years, Brenner’s design was replaced by Frank Gasparro’s Lincoln Memorial design, in commemoration of Lincoln’s sesquicentennial birth anniversary. The Lincoln Memorial design was replaced by four different commemorative designs and at the start of 2010, Lyndall Bass’s Union Shield became the new reverse design for the Lincoln penny and remains in place to date.
Features of the 2023 Penny
Let’s now explore the physical attributes of the 2023 penny. Knowing these features will help you identify Lincoln pennies worth money.
The Obverse Of The 2023 Penny
The Lincoln 2023 penny has a simple obverse design. It shows Lincoln’s right-facing portrait that’s slightly larger than the original portrait. The initials VDB appear on his truncated shoulder.
The motto IN GOD WE TRUST is arched around the coin’s rim at the top. On the left side, you will see the word LIBERTY while the year date appears directly opposite on the right side.
The Reverse of the 2023 Penny
When you turn over the coin, you are met with the Union Shield, which takes center stage.
The motto E PLURIBUS UNUM is etched on the top portion of the shield while thirteen strips decorate the rest of the shield.
A scroll with the coin’s denomination, ONE CENT, appears across the shield. Next to the scroll are the initials LB representing the coin designer Lyndall Bass and JFM for U.S. Mint engraver, Joseph Francis Menna.
Lastly, the phrase UNITED STATES OF AMERICA is shown at the top along the coin’s rim.
Other Features of the 2023 Penny
The 2023 Lincoln penny is composed of 97.5% Zinc and 2.5% Copper. It weighs 2.5 grams, measures 19mm in diameter, and has a smooth edge.
This coin was minted in Philadelphia, Denver, and San Francisco but only the Denver and San Francisco pennies have a mintmark seen on the obverse just below the date.
2023 Penny Value Guides
So, how much is a 2023 penny worth? Is a 2023 penny worth collecting?
The value of your 2023 Lincoln penny will depend on factors such as the coin’s condition, mint mark, mintage, and market demand.
Although these coins are generally worth their face value of one cent, some, especially the uncirculated ones can be worth so much more.
There are three types of the 2023 penny. These include the:
- 2023 No Mint Mark Penny
- 2023-D Penny
- 2023-S Proof Penny
Let’s look at how much each of these coins is worth.
2023 No Mint Mark Penny Value
The Philadelphia Mint produced millions of Lincoln pennies in 2023. These coins, however, do not bear a mint mark.
Circulated 2023 pennies with no mint mark are generally worth their face value of $0.02. Since these coins are pretty recent, most of the examples you will find are uncirculated or only lightly circulated and therefore worth slightly more than face value.
An uncirculated 2023 penny will take on a reddish hue due to its copper content. It will be shiny with little to no contact marks, scratches, or dings. Such a coin can fetch as much as $1.25 at grade MS61 and up to $30 for a gem-quality specimen graded MS67.
According to the Professional Coin Grading Service (PCGS), the most expensive 2023 no-mint mark penny is graded MS65RD and was sold for an impressive $200 at an eBay auction in 2024.
2023-D Penny Value
The mint at Denver also struck millions of pennies in 2023. These coins are identifiable by the D mint mark on the obverse.
Like their Philadelphia counterparts, circulated 2023-D pennies are only worth more or less their face value of $0.01.
You are more likely to fetch a premium with an uncirculated 2023-D penny. A penny graded MS60 will sell for up to $1.25 while one graded MS65 will fetch as much as $10. A gem-quality specimen graded MS67 is worth as much as $30.
As with the no-mint mark pennies, the 2023-D pennies are mostly available in red uncirculated condition. That’s because these coins are recently minted; most are still in good condition and may only have slight signs of wear.
In 2023, a collector paid a whopping $183 for a 2023-D penny graded MS65RD, making this the most expensive 2023 Lincoln penny struck at the Denver mint.
2023-S Proof Penny Value
The San Francisco minting facility produced proof coins for collectors. You can identify a proof Lincoln cent by its S mint mark on the obverse.
These special 2023 pennies have a shiny, flawless surface and frosted devices resulting in a sharply contrasting and attractive coin.
The Mint produced a small number of proof pennies in 2023 and the low mintage helps to boost the coin’s value.
The 2023-S proof coins are worth more than face value, which can be attributed to the coin’s unique nature including its brilliant luster and frosted devices
In terms of grading, these fairly new proof coins will usually attain a grade of MS68. A large portion of the coin’s population is graded gem-quality PF70.
A 2023- S proof penny is worth between $5-$7 depending on how well the coin has been preserved.
All in all, whether your 2023 penny has no mint mark, or was minted at Denver or San Francisco, you can expect premium prices on the uncirculated specimens.
2023 Penny Grading
Coin grading entails observing a coin’s wear—a coin with extensive wear is considered less valuable than one with its luster intact.
As mentioned, many 2023 pennies are in fairly good condition with little wear because these coins are still very new.
When grading Lincoln Shield pennies from 2023, check for signs of wear on high contact points such as Lincoln’s head, cheek, and jaw. The bowtie is also prone to wear and tear.
On the reverse, observe the Union Shield for signs of wear. The upper and lower portions of the coin are also high contact points prone to wear.
About Uncirculated 2023 pennies will have most of their luster intact but will show a few contact marks. On the other hand, uncirculated 2023 pennies will have a nice, mint luster and a strong strike, as well as great eye appeal.
Check out more tips on grading your 2023 pennies.
Rare 2023 Penny Errors List
Production-stage errors are common and can sometimes improve a coin’s value. It is not uncommon for error coins to be worth many hundreds and even thousands more than their regular strike counterparts.
Here are some of the most valuable 2023 penny errors to keep an eye for whether selling or buying these coins.
2023 Extra V Penny Error
A few 2023 pennies have been discovered to have an interesting error which looks like an additional letter V etched right after the initials VDB.
The fact that several pennies have been found to have this extra V tells us that this is likely a minting error.
What does the V stand for and how did it come about? These are the valid questions collectors are asking yet they continue to remain a mystery to date.
What is more interesting is that the Extra V error is unique to the 2023 penny; it hasn’t been seen in other coins Lincoln series.
Collectors are paying up to $45 for 2023 pennies with an extra V in uncirculated condition.
2023 Doubled Die Penny Error
Doubled die errors are some of the most commonly seen on Lincoln pennies
This error occurs when the die press strikes the coin severally at different angles resulting in some elements on the obverse and reverse overlapping and showing visible doubling.
In the case of 2023 pennies, very few examples have been found to have this error. Those that exist are valued between $50 and $100.
2023 Off-Center Penny Error
Off-center errors are also common among Lincoln pennies.
An off-center occurs when the die press strikes the planchet slightly away from the center causing the images to appear closer to the rim than to the center.
Very few 2023 pennies have been discovered to have an off-center error. Should such an example exist it could be traded for a premium attracting upwards of $100 depending on the off-center percentage—the more off-center the image the more expensive the penny will be.
FAQ
Are 2023 pennies worth collecting?
Yes. If you are building out your Lincoln collection, adding a 2023 penny to your collection is wise. These coins are easy and affordable to acquire so there is no reason you should not have them in your collection. Uncirculated examples are also easy to add to your collection and the best part is that they can earn a premium. In the future, the value of 2023 Lincoln pennies may increase and those who already have these coins in their collection will stand to benefit.
Are 2023 pennies the last pieces of pennies the U.S. Mint is making?
There have been rumors about the Mint stopping production of Lincoln pennies. However, there has been no official announcement from the Mint that the production of Lincoln pennies will cease. The 2023 pennies are certainly not the last because the Mint produced and distributed 2024 Lincoln pennies. The act of ceasing production of any currency, including Lincoln pennies requires congressional approval and it’s not something the Mint can decide to do randomly.
Are 2023 pennies rare?
No. The Mint produced millions of Lincoln pennies in 2023 pennies; these coins are readily available and accessible to any collector. That said, there are some rare 2023 pennies such as those spotting the Extra V error on the obverse; only a few of these coins have been found and some are selling for hundreds and even thousands of dollars.
