Most 1971 Lincoln pennies aren't valuable. However these pennies can sell for a premium in uncirculated condition. Keep reading to learn more about these one cent coins.

1971 Penny

Specifications

Type: Lincoln Penny
Year: 1971
Face Value: $0.01
Composition: 95% copper, 5% zinc
Total Weight: 3.11 grams

The US minted the 1971 penny with no mint mark and also the 1971 D penny and 1971 S penny. The mint mark, when present, can be found on the obverse side of the coin below the date.

Series Location Quantity Minted
1971 Philadelphia 1,919,490,000
1971 D Denver 2,911,045,600
1971 S San Francisco 525,133,459

Value

Most 1971 pennies in circulated condition are only worth their weight in copper. The current copper melt value for each penny is about $0.02. These coins can only sell for a premium in uncirculated condition.

The 1971 penny with no mint mark is worth around $0.60 in uncirculated condition with an MS 65 grade.

The 1971 D penny and 1971 S penny are each worth around $0.50 in uncirculated condition with an MS 65 grade.

Proof coins with the S mint mark are available and they are each valued at around $1 in PR 65 condition. There were 3,220,733 proof coins minted.

Doubled Die Error Coins

There is a rare error variety for the 1971 penny with no mint mark and the 1971 S proof penny. On the obverse side of the coin the date and the design elements are minted twice onto the coin. This is called a doubled die error.

The 1971 penny with no mint mark doubled die error coin is worth around $50 in uncirculated condition with an MS 65 grade.

The 1971 S proof penny doubled die error coin is worth around $500 in uncirculated condition with a PR 65 grade.

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Grading System

MS 65 gem uncirculated- There is strong luster and eye appeal. A few light contact marks may be present but they are barely noticeable.

PR 65 proof- There are no flaws to this coin. A few blemishes may be present.

 

Sources:

The Red Book


See also:

1972 Penny
1970 Penny
1969 Penny