# Collecting the 1986 Lincoln Memorial Cent: Value, Varieties, and Errors - Canonical: https://33rdsquare.com/1986-penny-value/ - Published: 2024-09-03 - Author: Kenneth Bates - Categories: [Collectible Coins & Sports Collectibles](https://33rdsquare.com/category/history/collectible/) --- As a coin collector and numismatic expert, one of the most common questions I get is, "What‘s my 1986 penny worth?" It‘s a natural query – after all, billions of these one cent coins were minted and they remain extremely common today. But as with many modern coins, there‘s more to the story than meets the eye. While your average circulated 1986 penny is only worth face value, certain varieties and high grade examples can be worth much more to discerning collectors. Diving into the nuances of this seemingly ordinary coin reveals a trove of fascinating details and potential sleeper treasures waiting to be discovered. Whether you‘re a seasoned Lincoln cent enthusiast or just getting started in the hobby, join me on an in-depth exploration of the 1986 penny. We‘ll uncover its key features, varieties, errors, and value, so you‘ll know exactly what to look for the next time you sort through your change jar or scour a coin dealer‘s inventory. ## The Enduring Legacy of Lincoln Cents First minted in 1909, the Lincoln cent is the longest-running coin design in United States history. Its creation marked the centennial birthday of Abraham Lincoln, the revered 16th president who steered America through the Civil War and helped end slavery before his tragic 1865 assassination. The Lincoln penny was groundbreaking in its debut of a historic figure on a circulating coin. It was also the first U.S. cent to feature the motto "In God We Trust." The obverse portrait of Lincoln has remained constant for over a century, but the reverse has evolved over the years: - Wheat Reverse (1909-1958) – Features two wheat stalks framing "ONE CENT" and "UNITED STATES OF AMERICA" - Lincoln Memorial Reverse (1959-2008) – Depicts the Lincoln Memorial building. 1959 pennies marked the 150th anniversary of Lincoln‘s birth. - Bicentennial Designs (2009) – 4 reverse designs honoring Lincoln‘s 200th birthday - Union Shield Reverse (2010-Present) – Features a union shield and "ONE CENT" From a numismatic standpoint, this long-running series provides fertile ground for collectors. One could assemble a set just of 1986 pennies and still encounter an impressive array of variations and conditional rarities. But before we delve further, let‘s get reacquainted with the specs of the 1986 Lincoln Memorial cent. ## Under the Loupe: 1986 Penny Key Characteristics To properly evaluate any coin, it‘s crucial to understand its defining attributes. Here‘s what you should know about the 1986 penny: - Obverse Design: Abraham Lincoln portrait with "IN GOD WE TRUST," "LIBERTY," and date - Reverse Design: Lincoln Memorial with "UNITED STATES OF AMERICA," "E PLURIBUS UNUM," and "ONE CENT" - Designer: Victor David Brenner (obverse), Frank Gasparro (reverse) - Edge: Plain - Composition: 97.5% zinc core, 2.5% copper plating (copper-plated zinc) - Weight: 2.5 grams - Diameter: 19.05 mm (0.75 in) - Thickness: 1.52 mm (0.0598 in) Notably, 1986 marked the 5th year since the Mint shifted penny composition from 95% copper to copper-plated zinc in 1982 as a cost-saving measure. This change sparked some confusion and controversy, as the zinc pennies are prone to corrosion if the thin copper plating is breached. Some 1986 pennies may display zinc "bleeding" through worn plating. As we‘ll see, the minting process itself also opened the door for some dramatic errors that are now highly prized by collectors. But first, let‘s talk mintages and relative scarcity. ## Minting and Scarcity: How Many 1986 Pennies Exist? The United States Mint produced 1986 Lincoln cents at three facilities: Philadelphia (no mint mark), Denver ("D" mint mark), and San Francisco ("S" mint mark for proofs). Here‘s a breakdown of the mintages: - 1986 (P) Philadelphia: 4,491,395,493 - 1986-D Denver: 4,442,866,698 - 1986-S San Francisco Proof: 3,010,497 In total, a staggering 8,937,272,688 pennies were minted bearing the 1986 date. Clearly, this is not a rare coin in the absolute sense. Even the 1986-S proof mintage of 3+ million is substantial compared to classic proof coins that numbered in the low thousands. However, scarcity is just one factor in determining a coin‘s collectible value. Ultimately, the 1986 penny reminds us that even a ubiquitous, modern coin can become quite desirable in the right condition or with the right attributes. Let‘s explore what makes certain 1986 pennies special in the eyes of numismatists. ## Grading and Conditional Rarity In general, a coin‘s value is tied to its state of preservation, or grade. The industry standard is the 70-point Sheldon scale, which ranges from Poor 1 (heavily worn, barely identifiable) to Mint State 70 (perfect uncirculated condition). A coin‘s numeric grade is determined by factors like wear, luster, contact marks, and eye appeal. For modern coins like the 1986 Lincoln cent, professional third party grading by reputable services like PCGS, NGC, or ANACS is essential for accurately assessing value. These grading companies assign numeric grades, certify authenticity, and seal coins in tamper-evident holders for protection. Some might scoff at the notion of having a common penny professionally graded, but the difference between a circulated and mint state coin can be immense. Let‘s look at some representative values from the "Red Book," the authoritative _A Guide Book of United States Coins_: | Grade | 1986-P | 1986-D | 1986-S Proof | | --- | --- | --- | --- | | Good 4 | $0.01 | $0.01 | N/A | | Fine 12 | $0.01 | $0.01 | N/A | | EF 40 | $0.10 | $0.10 | N/A | | MS 60 | $0.20 | $0.20 | N/A | | MS 63 | $0.75 | $1.30 | N/A | | MS 65 | $4.50 | $6 | N/A | | MS 67 | $100 | $130 | N/A | | PR 65 | N/A | N/A | $4 | | PR 69 | N/A | N/A | $50 | (N/A = Not Applicable. Proofs are specially minted and not assigned circulated grades.) Unsurprisingly, circulated 1986 pennies are worth no more than face value until you reach higher end uncirculated grades. Even an average uncirculated penny graded MS 60 to 63 is worth less than $1 – hardly a fortune but still multiples of its legal tender value. However, things get interesting in grades of MS 65 and higher. An exceptional 1986-P graded MS 67 carries a price of $100 in the Red Book – not bad for a coin with a mintage approaching 4.5 billion! The 1986-D is even more valuable at this tier, reflecting slightly lower availability. 1986-S proofs were struck with specially polished dies and planchets, giving them mirror-like fields and sharp details. In top grades of PR 69 and 70, they are the most valuable of the bunch, reaching $50-100 or more. Why are these "perfect" coins so scarce compared to their huge mintage of 3+ million? Improper handling by collectors is the likely culprit. The bottom line is, while most 1986 pennies you find in change are only worth $0.01, a small percentage exist in pristine uncirculated or proof condition. Cherrypicking these gems from dealer inventories or even circulation is a big part of the thrill for Lincoln penny enthusiasts. ## 1986 Penny Error Coins and Varieties In addition to high grade examples, collectors covet coins with striking errors and die varieties. While usually caught by the Mint‘s quality control, some error coins do escape into circulation. Here are some of the most notable 1986 penny errors and varieties: - Doubled Die – Occurs when a misaligned die strikes the same area of a coin twice, creating a partial doubling effect. An extremely rare 1986 doubled die cent shows clear doubling on Lincoln‘s eye and earlobe. Valued at $150+. - Off-Center Strike – Happens when the dies are misaligned, resulting in a coin that is struck off center with blank planchet visible. The value depends on the degree of the misalignment, with 50% or more off-center strikes commanding a hefty premium. - BIE Error – A die crack between the B and E of "LIBERTY" can create the appearance of an "I," hence the "BIE" nickname. The value depends on the prominence of the error, with prices ranging from $5 to $50+ for a strong, dramatic example. - Missing Clad Layer – A planchet error where the copper plating is missing from the zinc core. Unplated zinc cents are dark gray in color and can fetch $100 or more. - Die Caps/Brockages/Cuds – Other errors related to deteriorating dies or planchets. Values vary widely based on visual impact and rarity. Of course, finding any of these errors is a matter of luck, persistence, and knowing what to look for. Even for non-errors, certain die varieties like repunched mint marks are collectible, but that‘s a rabbit hole for another day. Suffice to say, not all 1986 pennies are created equal! ## Tips for Collecting the 1986 Lincoln Cent If you‘re inspired to start a 1986 penny collection, you‘re in good company. Many numismatists enjoy the challenge of assembling a complete date set of Lincoln Memorial cents from 1959 to 2008, which of course includes the 1986 issues. On a basic level, that means acquiring a 1986-P, 1986-D, and 1986-S proof. You can easily find nice uncirculated examples of the P and D for less than $1 each from a coin dealer or online. An 1986-S proof may cost around $5 for a PR 65 example. Diving deeper, you could seek out the highest graded pieces your budget allows, like an MS 66 or 67 P and D, and a PR 69 or 70 S. You could also keep an eye out for the scarce errors and varieties discussed earlier. When acquiring coins, bear in mind: - Buy from reputable dealers with a proven track record and return policy - Stick to PCGS, NGC, ANACS, or ICG graded examples when possible for better value retention - Store coins properly in acid-free containment. Inert plastic flips, 2x2s, or album slots are popular choices - Avoid cleaning coins, as it can damage surfaces. A soft brush is okay for very light dusting Searching circulation for 1986 penny errors or high grade examples can be fun, but bank-rolled cents are your best bet. Coins from rolls tend to be better preserved than loose change. If you do cherrypick a nice uncirculated penny or variety, send it to PCGS, NGC, or ANACS for professional grading to maximize its value. Who knows – you may have a four or five figure rarity on your hands, as some condition rarities and errors do trade for that much at auction! The 1986 penny is also a great coin for kids or budget-minded adults to collect. With so many minted, assembling a nice set is within reach for most collectors with some diligence. Other accessible options are various Lincoln Memorial cent folders or albums produced by Whitman, Littleton, and others. ## In Conclusion Never underestimate the humble penny! While often overlooked, the 1986 Lincoln cent offers surprising depth for collectors who know where to look. From pristine uncirculated examples to exotic errors and varieties, there‘s something for every collector‘s taste and budget. As a seasoned numismatist, I encourage you to always look closer at your coins – even the pennies. Noteworthy rarities are still waiting to be discovered, and you never know what treasures might be hiding in plain sight. That said, remember that knowledge is key. Familiarize yourself with the diagnostics of authentic errors and varieties to avoid being misled. Buy from reputable sources, focus on quality and preservation, and set collecting goals that match your interests and means. Whether you assemble a simple date set or dive deep into the nuances of varieties and errors, the 1986 Lincoln cent is a rewarding avenue in an endlessly fascinating hobby. I hope this in-depth exploration has armed you with the knowledge to confidently collect this modern classic. Happy hunting, fellow numismatists! --- Source: [Collecting the 1986 Lincoln Memorial Cent: Value, Varieties, and Errors](https://33rdsquare.com/1986-penny-value/)