1974 Penny Value – If you are an antique coin hunter, and looking for any rare valuable coins ( most valuable wheat pennies ), you might already be familiar with the 1960s to 1970s Lincoln penny, as it is one of the most common old penny, not so hard to find, and since it is just a penny, its initial face value is just $0.01. Even though it is just a common penny, and has not so much value as other antique coins, there is more than that.
If you are following the news, regarding some of the 1975 penny errors that caused the 1974 Lincoln penny to rise its value to even rising into $4.5000, you’re not wrong or misinformed.
There is a certain 1974 penny error that could raise the face value of the 1974 Lincoln penny, and cause them to inflate their price.
What is this 1974 penny error and is it so much worth it to hunt for the error pennies in 2022 now? Since an error penny is incredibly rare, and the chance of finding one is vanishingly small, you might not even get your hand on it.
However, some of the errors you can find can bring you a huge sum of money. See the 1976 penny value article on the discussion we discussed earlier.
Today, we are going to discuss the error pennies in the 1974 Lincoln memorial penny, the kind of error penny such as the 1974 d penny error value, and the 1974 s penny error value that could give better value and price for your penny.
Is finding 1974 pennies worth money and how it should be graded, or sold? We are going to discuss all of it.
Here is the ultimate guide for the 1974 Lincoln pennies.
The 1974 Lincoln Memorial Penny
In 1959, the government of the United States of America issued a new type of penny coin that was designed to replace the older penny design. This new type of coin will replace the wheat ear penny that has been used for over a decade.
The new penny is called the 1960s Lincoln memorial penny. It was used and minted up until the 1970s and is one of the long-lasting used pennies in the US.
Even though the 1974 penny value was initially just a penny or $0.01, and it is such a common old pennies that sometimes it won’t worth a while, some of the specimens of this old penny have risen, and are worth more than its initial face value.
This is due to many factors, such as the value of the metal composition on the coin, the grading of the coins, the category, and the errors on the coin.
These combined factors could increase or sometimes also decrease the value of the 1974 Lincoln penny, and sometimes make your 1974 pennies worth money or even get you rich ASAP.
How Much Is A 1974 Penny Worth And What Value For Today’s Market?
What is a 1974 penny worth? As we mentioned above there are several factors that define the price, and value of each 1974 penny.
If you go to a coin grading service, you will know about your coin grading, how it would fetch in the current market, and if your penny worth money or not. Is a 1974 penny worth anything? First, we need to delve into the category and type of pennies.
During the 1960s and 1970s, the United States of America released three categories of Lincoln pennies, first is the Lincoln 1974 S Penny, The Lincoln 1974 D Penny, and The 1974 Lincoln Proof Penny.
These three categories are minted in separate different minting facilities and have distinct differences, there is also a certain 1974 penny error for each of the different categories that can raise the value of the pennies.
The 1974 Lincoln D penny was minted in Denver; it was minted with a total amount of 14,350,750 during this year and was minted with the mark.
While the 1974 Lincoln S penny was minted in Philadelphia the total amount of minted coin was 7,530,289.
The proof Lincoln penny, however, was minted in Philadelphia to commemorate and designed as a special collectible penny.
Right now, the current price for both Lincoln S and D penny worth around $2 to $8 at most for the common grade. The proof penny is slightly cheaper since it is quite a common collection with around $1.5 to $3.
Other than the category of the coins, other factors make the value of each 1974 Lincoln penny could arise, for example, the error pennies. What is an error penny? And what makes them valuable to collect, and worth money to sell?
Rare 1974 Penny Error You Should Be Looking For
Error pennies are the type of penny coins that has errors on the coin itself. Most of the time, these errors are caused by external damage, such as discoloration, clipping, chipping, die breaking, and many more.
However, there are also rare errors that were caused by the mintage itself. It is incredibly rare to find error pennies, so the chances of finding error pennies are slim.
1974 Lincoln Memorial Penny Error List
Several notable 1974 penny errors are quite valuable and rare. This 1974 penny error value is quite high on the collectors market, and many coin collectors of course wanted to get their hand on the rare error pennies.
Some errors are valuable finds and worth quite a good amount of money, but there are also other worthless errors, so here is the 1974 d penny error list.
• 1974 Lincoln Penny With Double Die –
A double die penny is a penny that has been minted with a double die on the surface of its coin. The double die will appear on the surface and the minted mark is double punched and therefore appears to have a double die.
The value of the double-die penny might vary, but it generally increases the value of a penny from around $45 to $55.
• 1974 Penny No Mint Mark Error –
Some of the 1974 errors penny seem to also have any mint mark error. It is an error where the coins appear to have no mint mark, even though they should have.
This error is pretty rare, considering that mintage rarely does this kind of mistake. The value for this kind of error is around $25 to $35.
• 1974 Penny Error With Breaking Die –
A breaking die, or broken die is one of the errors that the surface of the penny appears to be broken. This can be caused by exposure damage or any external damage.
However, there are also some of the coins that also have broken die from the mintage. The value for this error is around $10 to $20.
Frequently Asked Questions Regarding The 1974 Lincoln Memorial Penny
If you want to hunt for the old coins, please see the list of foreign coins worth money and want to add collections for your 1974s Lincoln coin, you might as well need to know more information.
So, here are a few frequently asked questions regarding the 1974 Lincoln penny.
How much is the worth of the 1974 Lincoln penny? – The value for the Lincoln penny is vary depending on the grading of its coin, the conditions, clipping, damage, coloration, and the error pennies. Generally, the color of the 1974 penny was also somewhat affected. Three distinct colorations could affect how much the Lincoln penny was worth; the colors are brown, reddish-brown, and full-red specimens.
These colorations are caused because the bronze in the coin, the bronze when exposed to elements will cause discoloration, and turn red over time.
The older the bronze coins, will turn red until they become full red specimens. The full red specimens are one of the most expensive 1974 Lincoln pennies.
Is it worth it to find error pennies? – Error pennies are rare specimens. The error penny is a specimen of a penny that has a slight error, and an alteration of the regular minted coins. There are several types of errors, from the double die, breaking die, no mint mark, and many more.
To find an error penny is very rare, and the chances of finding an error penny worth the time are incredibly rare. The best chance to find error pennies are by contacting other coin collectors.
How the Lincoln penny is graded? – There are several grades for the 1974 Lincoln penny, based on the official US coin grading service. This grading is based on the lusters of the coin, metal composition, and how the discoloration of the specimens. The grade is split between the reddish-brown Lincoln penny and the full-red Lincoln penny. The full red specimens are incredibly rare and high-grade.
Looking for More Information About Coins? Check Other Years From This Lincoln Penny ( Coin ) Series:
1959 1960 1961 1962
1963 1964 1965 1966
1967 1968 1969 1970
1971 1972 1973 1974
1975 1976 1977 1978
1979 1980 1981 1982
1983 1984 1985 1986
1987 1988 1989 1990
1991 1992 1993 1994
1995 1996 1997 1998
1999 2000 2001 2002
2003 2004 2005 2006
2007 2008 2009
The 1974 Lincoln memorial penny is common, and it isn’t that hard to find. However, even though it has such commonality, some of the specimens might be worth a lot and could net a good amount of money.
These specimens, especially the high-grade full red specimens could even be worth form more than $2.500, with the most expensive one could reach $4.500.
In the coin-hunting community, error pennies are also quite rare and have their value. Some 1974 penny error has more value than other, so you should always study them before trying to hunt for an error penny.