If you like collecting pennies or simply pay attention to pennies you have from time to time, then the 1983 Lincoln Penny could be extremely special for you. Because of hereditary errors, this penny can cost thousands of dollars. Here, we will inform you what are the features of this penny, what kind of errors make it so valuable, and how you can learn more about whether you have a unique 1983 Lincoln Penny.
Significance of 1983 Lincoln Penny
The 1983 Lincoln Penny is unique because it was produced in a transformative period. Up to 1982, the US penny was largely copper-based. However, with the increase in copper prices, its production was altered in 1982 to zinc covered with copper. The 1983 penny is the second year of this new composition.
Significant Details of the 1983 Penny
- Obverse: Depicts a portrait of Abraham Lincoln and the inscription “LIBERTY” and “IN GOD WE TRUST.”
- Reverse: Depicts an image of the Lincoln Memorial and the inscription “ONE CENT” below it.
- Mint Mark:
- Those Philadelphia-minted coins have no mint mark.
- Denver-minted coins have a “D” mark.
- San Francisco-minted coins have an “S” mark.
Most Valuable Error: Doubled Die Reverse (DDR)
Some Lincoln pennies of 1983 bear a error known as the “Doubled Die Reverse” (DDR). This error takes place when the design is duplicated on the reverse side of the coin but because of minor misalignment, the letters begin to appear double.
How to recognize DDR?
- This error is observable on the reverse side of the coin.
- Double letters are prominent particularly in the words “E PLURIBUS UNUM” and “ONE CENT”.
- Shadow-like structures are visible on the edges of letters.
Its price and rarity
- Only around 5,000 such coins have been found to contain this error.
- Its value depends on the state of the coin and the distinction of the error.
- Its highest price so far was $7,050, a 1983 Lincoln penny with DDR. ### Other Significant Errors Which Make Coins Valuable
1. Double Die Obverse (DDO)
- It is a reverse strike error.
- The double impression is visible more prominently in the inscriptions “LIBERTY” and SUN (1983).
- It is not so valuable as DDR but still reaches a value of $10 to $100.
2. Struck on Bronze Planchet
- The majority of 1983 pennies were struck on plated copper zinc, but some were accidentally struck on old bronze planchet.
- A regular penny weighs 2.5 grams, but a penny that was struck on a bronze plate weighs 3.1 grams.
- This mistake is EXTREMELY RARE and is worth an estimated $10,000 to $15,000.
3. Off-Center Strike
- If the design on the coin is not centered and is tilted to one side, then it is an “Off-Center Strike”.
- It can cost $5 to $50 based on how serious the issue is.
4. Clipped Planchet Error
- It happens when the coin is stamped on an uncropped plate, and some part of the coin seems missing.
- Such coins may range in price from $5 to $50.
How to know whether you have a worth 1983 penny?
If you own an 1983 Lincoln penny, then do the following to verify it:
- Observe the design closely:
- Check the front and back of the coin for doubling or unevenness in the design.
- Compare the weight:
- If it is heavier at 3.1 grams, then it could be produced using a bronze plate, which is extremely rare and worth a lot.
- Seek the advice of a coin expert:
- If you find a particular error in your coin, present it to a certified coin grader or collector.
Potential prices for 1983 Lincoln pennies (by condition)
| Error type | Condition | Estimated value (USD) |
|---|---|---|
| Double Die Reverse (DDR) | Uncirculated | $50 – $7,050 |
| Struck on Bronze Plate | Any Condition | $10,000 – $15,000 |
| Double Die Obverse (DDO) | Uncirculated | $10 – $100 |
| Off-Center Strike | Uncirculated | $5 – $50 |
| Clipped Plate Error | Uncirculated | $5 – $50 |
Conclusion
If you own a 1983 Lincoln penny, it might be worth investigating to determine if it contains a valuable error. Pennies that contain DDR, DDO, bronze plate and other characteristics could command a premium price because of their scarcity. Examine your old pennies closely—who knows, there could be thousands of dollars’ worth of riches nestled right in your pocket!
FAQs
Q1. How do I know if my 1983 penny is valuable?
Check for doubling in the lettering on the reverse (DDR error), weigh the coin (should be 2.5g, or 3.1g if struck on a bronze planchet), and look for any off-center strikes or clipped edges.
Q2. What is the most valuable 1983 penny error?
The Doubled Die Reverse (DDR) is the most valuable error, with one selling for up to $7,050. Pennies struck on bronze planchets can be worth even more, up to $15,000.
Q3. Where should I get my 1983 penny appraised?
You can take your coin to a professional coin grading service such as PCGS, NGC, or ANACS, or consult a local coin dealer for an initial evaluation.
Q4. Are all 1983 pennies valuable?
No, only those with specific errors like DDR, DDO, off-center strikes, or being struck on a bronze planchet have significant value. A regular 1983 penny without errors is only worth face value.
Q5. How rare is the 1983 Doubled Die Reverse penny?
It is estimated that only about 5,000 of these error coins exist, making them quite rare and highly sought after by collectors.