Type : Lincoln Memorial Penny (1959-2008)Edge : PlainMint Mark : N/APlace of Minting : PhiladelphiaYear of Minting : 1977Face Value : $0.01$ Price : $0.01 to $0.25Quantity Produced : 4,469,930,000Designer : Victor David Brenner/ Frank Gasparro
The 1977 no mint mark penny comes out of the Philadelphia mint. This year, the Pennsylvania mint put 4,469,930,000 pennies into circulation, and it’s one of the few years that the collectible proof coins were not included.
Most circulated pennies from this year aren’t worth more than the $0.02 you would get if you melt them down, and plenty of people hold on to them in case laws change and allow the melting of the copper coins.
If you find a no mint mark 1977 penny in uncirculated condition or one with an error, you may be able to sell it for $0.10 or more. Even the best quality coins only sell for $110, but you can expect more when you take a properly graded 1977 penny to auction.
1977 D Penny Value
Type : Lincoln Memorial Penny (1959-2008)Edge : PlainMint Mark : DPlace of Minting : DenverYear of Minting : 1977Face Value : $0.01$ Price : $0.01 to $0.25Quantity Produced : 4,149,063,300Designer : Victor David Brenner/ Frank GasparroThe Denver produced nearly as many 1977 D pennies as the Philadelphia mint, and most went into circulation. Because of this, you’re unlikely to find one in mint state.If you do, you can expect about $40 to $50 for the coin, while some have paid as much as $150.The most expensive 1977 D penny was sold at a Heritage Auction in 2016 for $7,050, but this coin featured desirable red toning and an MS 68 grade. You’re more likely to find uncirculated brown or red/brown varieties in mint condition.1977 S Proof Penny Value
Type : Lincoln Memorial Penny (1959-2008)Edge : PlainMint Mark : N/APlace of Minting : San FranciscoYear of Minting : 1977Face Value : $0.01$ Price : ~$2.50Quantity Produced : 3,251,152Designer : Victor David Brenner/ Frank Gasparro
Nineteen seventy-seven saw San Francisco print proof pennies in a limited number, making them particularly valuable when compared to the other pennies from the year. That said, they still max out around $2.50.
Proof pennies are largely preserved, but it can still be difficult to find a high graded 1977 S penny. Heritage Auctions claimed the auction record for this coin with a PR 70 that sold for $7,050 in 2013.
The 1977 penny didn’t crawl out of the mint fully formed. It’s the culmination of at least seven decades of development, not counting coinage history, that precedes the original Lincoln pennies from 1909.
The obverse design on the coin was born from the vision of Victor David Brenner. While he had not worked on a circulating coin design prior to this time, he approached the design of the Lincoln penny facade with enthusiasm.
Brenner’s designs were met with resistance from the U.S. Mint Chief Charles Barber due to their high level of degree. After essentially butting heads, the two finally sent off a profile that Mint Director Frank A. Leach further amended.
Leach lowered Lincoln’s profile on the coin, cutting off some of the detail at the bottom, and made room for the inscription IN GOD WE TRUST at the top of the coin (a detail the previous penny had lacked).
Before he was the tenth Chief Engraver of the U.S. Mint, Frank Gasparro won the contest intended to reimagine the reverse design of the penny on Abraham Lincoln’s 150th birthday.
This design was met with controversy, as some believed that the statue inside the memorial was not as apparent as it should be. Gasparro dug into this design, insisting that the memorial would not hold the same weight without the statue inside.
Once struck, this design was the first in American coinage history to display the same president on both sides. While many still consider this the default penny, it finished its run in 2008.
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1977 Penny Grading
You can get an idea of the condition of your 1977 penny by adding it to a general “grading bucket” outlined below. These are very loose definitions of coin condition, and they tend to vary from person to person, so they’re not useful for sales or more serious inquiries.
If you’re considering the purchase of a 1977 penny or believe you’ve come across a hidden gem, make sure the coin is professionally graded using PCGS grading standards . This is a 70 point scale used to pinpoint the exact condition of coins without room for bias.
Good
A 1977 Lincoln penny in “Good” condition is often heavily worn and lacks most of its details. While the legend and date are still readable, they may be heavily worn.
On the reverse, the Lincoln Memorial exists in the same state. While outlines are intact, smaller details such as columns are completely gone.
Fine
Coins in “Fine” condition retain some detail from the original design. While Lincoln’s cheek and jaw are still mostly smooth, there may be more distinction in details such as his ear or hair.
On the reverse of the 1977 penny, the Lincoln Memorial shows with greater detail. All inscriptions are bold, and the monument may have ghosts of lines regarding columns and lesser details.
Extremely Fine
An “Extremely Fine” 1977 penny has slight wear. While mild circulation is obvious, details remain sharp. Most areas of wear occur on high relief areas such as Lincoln’s cheek or jaw.
On the back, the details are quite obvious. The penny may lack its original luster, but you can clearly see each individual column, minute details on the memorial, and the Lincoln Memorial inside.
Uncirculated
Uncirculated coins have no signs of wear or handling. They may feature slight blemishes attributed to age or handling for numismatic purposes.
In most cases, you need a quality light and 8x magnifying glass to detect any issues.
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Numismatists recognize several errors in 1977 pennies, including:
Double dies
Off center coins
Pale mint marks
Re-punched mint marks
Die crack (particularly BIE errors)
These occur when the equipment used to produce the coins malfunctions or deteriorates over time, resulting in several coins with similar issues. Verify any rare errors you encountered before you get too excited; many commonly mistake general wear as an error.
1977 Double Die Penny
The most common error for the 1977 penny is the double die error.
A double die 1977 penny has double features, such as inscriptions, and it is worth at least $25 to $100.
This estimate jumps up to $100 to $500 when you encounter a penny with clearer doubling, but it also depends on the quality of the coin and the selling situation.
1977 Off-Center Penny
Off-center pennies occur when the die doesn’t correctly line up with the penny. As a result, these pennies take on a blank crescent moon while missing a mild percentage of their original design.
Most 1977 pennies are only missing 1 to 3 percent of the design as a result, and they may not be valued by collectors. Those with at least 10 percent of the design missing may be worth $15 to $25.
Off-center 1977 pennies with 50 percent of the design missing usually go for $100+, but only if the mint mark and the date are fully recognizable.
1977 Pale Mint Mark Penny
Pale mint marks were common from the Denver mint in 1977, and they reflect a lack of attention when punching. These mint marks are quite vague, but they bump the penny value up to $3 to $15.
1977 Re-punched Mint Mark Pennies
Mint marks were still hand punched in the 1970s . Human error leads to upside down, sideways, crooked, or otherwise improper mint marks, and it made more sense to re-mark them than to throw them out.
Re-punched mint marks aren’t particularly spectacular as far as errors go, but they’re both desired and collectible. One could earn you $3 to $15 depending on the current market and which 1977 penny variety you have.
1977 Pennies With Die Cracks
A die crack refers to a coin marked by a broken die, resulting in a flattish area.
In 1977 pennies, this usually happened between the B and E of LIBERTY, making it look like there was an I between the two letters (hence, BIE error).
The value placed on these errors increases with the magnitude of the imperfection, but most sit in the ballpark of $5 to $10.
What Makes a 1977 Lincoln Penny Rare?
While most 1977 Lincoln pennies are not inherently rare, certain errors, mint, or proof pennies are worth well over their face value. Other than that, there are enough 1977 Lincoln pennies still in circulation to make them a fairly common coin.
