The world of coin collecting is filled with hidden treasures, and one of the most intriguing finds for collectors is a misprinted or error coin. Among the various coins with potential value, the 1983 Lincoln Penny error stands out.
While most pennies from this year are worth just one cent, certain 1983 pennies can fetch as much as $7,050 at auctions due to an error in their production.
But what makes this penny so special, and how can you identify one of these rare finds? In this article, we’ll dive into the details of the 1983 Lincoln Penny error, its value, and how you can find one.
The 1983 Lincoln Penny: A Quick Overview
Before we delve into the error itself, it’s important to understand the basics of the 1983 Lincoln Penny. In 1983, the U.S. Mint transitioned from using copper to a copper-plated zinc composition in pennies to reduce costs.
This change affected the weight, appearance, and overall feel of the coin. While most 1983 pennies are just like any other modern penny, a rare error occurred during the minting process that led to the creation of a highly valuable coin.
Key Features of the 1983 Lincoln Penny:
- Mint Year: 1983
- Composition: 97.5% zinc, 2.5% copper (copper-plated zinc)
- Weight: 2.5 grams
- Diameter: 19.05 mm
- Mint Mark Locations: Philadelphia (no mint mark), Denver (D), and San Francisco (S)
This penny is usually not worth much more than face value, but a mistake in its production made certain examples highly sought after by collectors.
The 1983 Lincoln Penny Error: What Happened?
The error in the 1983 Lincoln Penny occurred when some of the copper-plated zinc pennies were accidentally struck with the wrong die.
The incorrect die used for these coins caused them to have a unique feature that stands out from the regular 1983 pennies. These “error” pennies feature certain characteristics that make them distinct from the standard coin.
The primary error in these 1983 pennies is the “double die” error. This occurs when the coin is struck twice by the die, causing a noticeable doubling effect on the design.
In the case of the 1983 Lincoln Penny, the error results in the doubling of the inscriptions on the obverse of the coin, particularly the word “LIBERTY” and the date “1983.” This creates a dramatic, visible flaw that collectors look for when searching for valuable coins.
Key Features of the 1983 Lincoln Penny Error:
- Double Die Error: This is the most common error found in 1983 pennies.
- Doubling Effect: The doubling is typically visible on the word “LIBERTY” and the date “1983.”
- Rarity: This error is rare, making it a valuable find for collectors.
The rarity of this error and its eye-catching appearance contribute to its high market value.
How Much is the 1983 Lincoln Penny Error Worth?
The value of a 1983 Lincoln Penny with the double die error can vary based on its condition, the extent of the error, and whether it has been professionally graded.
In general, a 1983 Lincoln Penny error in good condition can fetch anywhere from $500 to $7,050. The more pronounced the doubling and the better the condition, the higher the coin’s value.
Coins that have been graded and certified by professional services, such as the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC), are often worth more than ungraded coins.
These grading companies assign a grade to the coin, such as MS-65 (Mint State 65), which indicates the coin’s quality and helps set a more accurate market price.
Price Breakdown for 1983 Lincoln Penny Error
| Condition | Approximate Value |
|---|---|
| Uncirculated (MS-60) | $500 – $1,000 |
| Mint State (MS-65) | $2,000 – $4,000 |
| High-Grade MS-67+ | $7,050 or more |
For example, a 1983 Lincoln Penny with a clear double die error in uncirculated condition (MS-60) can be valued at $500 to $1,000, while a high-grade coin with a significant error (MS-65 or MS-67) can fetch as much as $7,050.
How to Identify the 1983 Lincoln Penny Error
Identifying a 1983 Lincoln Penny with the double die error is relatively easy once you know what to look for. The most obvious sign is the doubling of the date “1983” and the word “LIBERTY” on the obverse (front) of the coin.
The doubling will be visible to the naked eye, especially if the coin is in good condition. Here’s how you can identify the error:
Steps to Identify the 1983 Lincoln Penny Error:
- Examine the Date: Look closely at the “1983” on the obverse. If the numbers are doubled, it’s likely an error coin.
- Check the Word “LIBERTY”: The word “LIBERTY” will also show a doubling effect, which is one of the key features of the error.
- Inspect the Mint Mark: Pay attention to the mint mark (if there is one). A doubled mint mark can also be a sign of an error coin.
- Consult a Grading Service: If you believe you have an error coin, consider having it evaluated by a professional coin grading service to verify its authenticity and grade.
How to Sell the 1983 Lincoln Penny Error
If you have a 1983 Lincoln Penny with a double die error, selling it can be a lucrative opportunity. There are several options for selling your valuable coin:
- Online Marketplaces: Websites like eBay allow you to auction your coin to a wide audience of collectors.
- Coin Dealers: You can visit local coin shops or reputable coin dealers to sell your coin directly.
- Coin Auctions: High-end auctions may also be an option for selling rare coins like the 1983 Lincoln Penny.
It’s important to get your coin authenticated and graded by a professional service before selling to ensure you get the best possible price.
The 1983 Lincoln Penny error, with its double die feature, is a rare and valuable coin that could fetch as much as $7,050 in the right condition.
If you come across one of these error pennies, make sure to closely inspect the details, especially the date and the word “LIBERTY.” Getting your coin graded and certified can help maximize its value, so you can make the most out of your rare find.
FAQs
What makes the 1983 Lincoln Penny error valuable?
The 1983 Lincoln Penny is valuable because of its rare double die error, which causes the date “1983” and the word “LIBERTY” to appear doubled on the coin.
How do I know if my 1983 Lincoln Penny has the double die error?
Look for visible doubling in the date “1983” and the word “LIBERTY” on the obverse of the coin. The doubling should be noticeable without magnification.
How much is a 1983 Lincoln Penny with the error worth?
A 1983 Lincoln Penny with a double die error can be worth anywhere from $500 to $7,050, depending on its condition and grade.
How do I get my 1983 Lincoln Penny graded?
You can send your coin to professional grading services like PCGS or NGC for authentication and grading. This will help establish its value.