1984 Penny Coin Value: History, Error list and Today Worth

Are you interested in determining the value of that 1984 penny you’ve recently come into?

Well, while the 1984 penny is one coin whose value in the numismatic world isn’t so different from its face value of 1 cent, this coin holds a special spot in American coinage history. For this reason, getting your hands on an error 1984 penny in mint condition can fetch you a fair price in the coin market.

This article entails all you need to know about the 1984 penny value. You'll get first-hand information on its rich history, available varieties, and all known mint errors.

The 1984 Penny Value Chart

Here is a table of different varieties of the 1984 penny and the price as determined by the coin's grade.

It is no news that a coin in bad condition wouldn't be worth more than its face value and the 1984 penny is no exception; your coin needs to be in a decent state to get a fair price.

Asides from the coin's grade, rarity also plays a vital role in determining the worth of a 1984 penny. The rarer the coin, the more valuable it is in the coin market.

Finally, since the 1984 penny is quite an easy find, as much of it is still in circulation, even though your coin might be high grade, the ability of the coin to show its original red color will also play a role in determining its value. For this reason and to ensure that you get your coin’s true worth use this coin value checker

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The History of the 1984 Penny

The 1984 penny belongs to the Lincoln Memorial series minted from 1959 to 2008. The US Mint began producing these coins to honor the 16th president, Abraham Lincoln and the coins served as a reminder of Lincoln's impact as a leader, his legacy, and his untimely death.

Initially, the pennies were slightly heavier. They were 19mm in diameter, weighed 3.11g, and were composed of 95 percent copper and 5 percent tin and zinc. However, due to a significant hike in copper prices in 1982, the Mint decided to reduce its use of copper. It began producing lighter coins using a zinc planchet with a thin layer of copper plating.

Furthermore, although 1984 was the third year the penny was produced using the zinc core with copper plating, what made the 1984 pennies stand out is that it recorded an impressive mintage of over 13 billion pennies that year, making it one of the most produced and circulated coins in US Mint history.

Finally, it’s worth stating that no changes were made to the 1984 penny’s design as it maintained the original design introduced in 1959. Over the years, this penny has continued to gain popularity among new collectors as a coin that is easy to acquire due to its availability and low market value.

Features of the 1984 Penny

One thing you’ll find fascinating about the 1984 penny is its appearance which comprises distinct features designed by two talented artists at different times in history. Both designers, Victor D. Brenner, and Frank Gasparro, drew inspiration from Lincoln's profile and monuments to create a masterpiece and received many commendations for their brilliant designs.

The Coin’s Obverse

Looking at the coin's obverse, the first thing that catches your eye is its central design which features Lincoln's intricately crafted bust. Lincoln appears to be facing the right direction and looking ahead as if sighting something at a distance.

The motto "IN GOD WE TRUST " is Boldly written above his head". Also, on both sides of the coin's surface, the inscriptions "LIBERTY" and “1984” are positioned on the left and right of the coin.

The Coin’s Reverse

The coin’s reverse features an image of the Lincoln Memorial with a downsized replica of the president’s statue between the sixth and seventh pillars. Also, the words “UNITED STATES OF AMERICA” form an arc at the coin’s top half, and you’ll find the phrase “E PLURIBUS UNUM” right above the engraving of Lincoln’s memorial.

Finally, the coin's value, "ONE CENT," written in bold fonts, occupies the area near the coin's bottom rim.

1984 Penny Details

Asides from its high mintage, the 1984 penny stands out by having a different composition from pennies minted between 1959 and 1982. This coin contains 97.5% zinc and 2.5% copper alloys. It is also slightly lighter, weighing 2.5 grams instead of the 3.11 grams weight of older coins in the series.

Although the coin's plain edges give it a rather simplistic appearance, it offers much-needed protection against wear and tear, contributing to its durability.

Known Varieties of the 1984 Penny

The 1984 penny has three varieties based on mintage location: Philadelphia, Denver, and San Francisco. You can tell coins produced in these locations apart by looking for unique mint marks below their dates. We'll discuss more about these Mintmark varieties below:

1984 No Mint Mark Penny

The 1984 pennies minted in Philadelphia are distinguished from others by the absence of mint marks. Also, as seen in the table above, due to their high mintage number, these coins are valued the lowest in the coin traders market. For instance, a PCGS-graded MS64+ 1984 no-mint mark penny is worth nothing more than $8 in current market conditions.

Don't be discouraged, however; rare and unique 1984 pennies can be worth thousands of dollars. For instance, a 1984 MS69 RD penny sold for Bowers & Merena auction sold for $5,750 in 2010, while a 1984 MS65 BN penny went for $2,760 at the same auction in 2003.

1984 “D” Mint Mark Penny

Coins with the "D" mint mark were produced at the Denver Mint, and this mark is seen on the coin's obverse. Typically, the worth of "D" mint mark coins is almost similar to that of the no mint mark variety, with their current value ranging from $0.01 to $5.

In addition to this, collectors find some of these coins, especially ones appearing red, highly valuable. They can set aside thousands of dollars to get one.

On one occasion, a collector paid over $4000 for an extremely rare 1984 D MS68 penny. The transaction took place at the Heritage Auctions in 2008.

1984 “S” Mint Mark Penny

The San Francisco mint struck proof coins bearing the S mint marks. These coins have more finely-struck designs with shinier surfaces that collectors find desirable. As a result, they’re considered more valuable, with current market prices ranging from $0.50 to $10.

Although, some coins having more value are worth a few thousand dollars. For instance, at the Heritage Auction in 2002, a 1984 S PR70 DCAM penny sold for $1,380.

1984 Penny Errors

Despite their relatively low value, some 1984 pennies are worth way more and are even considered rare and desirable by collectors due to a specific factor called error. Some of these errors include:

1984 Penny Off-Center Error

This fascinating error occurs when the design bearing metal (planchet) is incorrectly aligned. As such, the design appears off-center, with a portion of the design missing. A 1984 penny having this error is usually valued at $10 or more, depending on the coin's condition and the degree of error.

1984 Penny Double Die Obverse Error

This is the most common error occurring in the 1984 penny. It occurs when coin surfaces are struck twice, resulting in the dies causing double inscription of the design or parts of it on the coin.

This error is found chiefly on coins produced in the Philadelphia Mint bearing no mint marks. Interestingly, many coins with this error come in high grades and are worth between $100 to $240.

As usual, some coins with the error have been sold for far more money, with the most expensive being a 1984 DDO MS68 RD Lincoln penny, which went for $3,910 at the Heritage Auctions in 2009.

1984 penny FAQ

What Is A 1984 Double-Ear Penny?

This is usually a 1984 penny with a double die error occurring at Lincoln’s ear on the coin’s obverse. It’s a common error you’ll most likely find on coins with no mint marks. This error adds extra character to the coin’s design, making it appear fascinating and desirable.

You’ll often find coins with this error more valuable, with prices ranging from a hundred to a few thousand dollars.