1983 Penny Value – The 1983 penny, sometimes called as Lincoln penny, is one of the most common pennies in circulation. It has been minted en masse during the year 1983. Most of the common circulated condition is only worth the same face value, the $0.01. However, some of the coins have uncirculated condition, rare grading, and category that makes them sell for a premium price, and have 1983 penny value increases.
The initial face value for the 1983 Lincoln penny is one cent ($0.01), and since it is not as old as the older Lincoln penny series, or the Indian head penny, for example, the price and value might be the same as its initial face value.
The designs for the 1983 Lincoln penny, feature the prominent portrayal of US President Abraham Lincoln on the observed side, with the Lincoln memorial building on the reverse side.
These initial designs are created to replace the older wheatear Lincoln penny that has been in circulation for decades.
The observation features the portrait of US President Abraham Lincoln bust, viewed from the side. It has inscriptions of “IN GOD WE TRUST” on the top side along the rim, and it also features “LIBERTY” inscriptions and the date inscriptions of “1983”.
On the reverse side, there is the Lincoln memorial building on the coin, Therefore, sometime this penny is also called as Lincoln memorial penny. It features the Lincoln memorial building with the inscriptions of “E PLURIBUS UNUM”.
Even though this penny is very common, some of them might be worth more than you think. Some 1983 d penny error for example can make your 1983 Lincoln penny much more worth it, and increase its face value by $10 to $20.
As of today, the Lincoln 1983 penny has been one of the most common pence in circulation.
The most common grades of the 1983 penny value are at least the same as the initial value, however, some good grades would be valued at least $0.06 to $2, while the finer grade would even fetch $4 to $8.
However, there are also much rarer qualities, and the grade of the Lincoln 1983 penny that has 10 times more expensive than the fine grade.
1983 Lincoln Memorial Penny Specifications
Here are the complete specifications of the 1983 Lincoln memorial penny:
- Type: Lincoln memorial penny
- Date of minted: 1983
- Initial Face Value: $0.01
- Composition: 99,2% Zinc, and 0.8% Copper
- 1983 Penny Weight: 2,5 Grams
- Category: 1983 Lincoln penny, 1983 D Lincoln penny, and 1983 S Proof penny
Even though the 1983 Lincoln penny is pretty much just a cent, and it has a $0.01 face value, some of the rare specimens have more intrinsic value, and can pretty much sum up a good amount of money.
If you want to hunt for rare coins, you would need to understand first the grading of each coin, the category, and how each of them is valued and appreciated.
Here is the category, and grading for each 1983 brass penny value, along with the explanation, and estimated price range for each different category and grading.
1983 Penny Value Grading, And Category
To determine the 1983 penny value, there is a category for each penny and grading. During the year 1983, the United States of America minted three categories of the 1983 Lincoln penny, the 1983 Lincoln penny, the 1983 D Lincoln Penny, and the 1983 S Proof Penny.
Each of these categories has different characteristics, specifically in the initials on their inscriptions.
The 1983 Lincoln penny was minted in Philadelphia with the total amount of minted penny being 7.752.354.000 in quantity. With the abundance of minted pennies, it has been one of the most common categories of the 1983 Lincoln penny.
The 1983 D copper penny was minted in Denver, hence the initial “D”, was minted with a total amount of 6.567.200.428.
The S Proof penny, also sometimes called as 1983 d silver penny was minted in San Francisco with a total amount of only a handful of 3.279.120.
It was a commemorative proof penny that wasn’t circulated en masse, in public; hence it is pretty rare found.
Other than categories, to determine the 1983 copper penny’s worth there is also a grading system that functions as an assessment to categorize and grade each of the old antique pennies into different grades based on their conditions, and eye-appealing features.
The more beautiful and pristine conditions the old coins, the better the grades, and eventually the better the value.
The grades for 1983 Lincoln coins are defined as ‘Good’, ‘very good, ‘extra good’, ‘Fine’, ‘very fine, ‘extra fine’, AU Grade, then MS Grade.
MS Grade is also separated into 7 different grades, MS 60, MS 61, MS 62, MS 63, MS 64, MS 65, and MS 67. The MS Grade is the highest, and each of the MS grades is worth at least $100 to $200.
When the grade for old coins is increased by each grade, the price could go up by at least $5 to $10 in increase.
The most significant increase is mostly in MS grade, where one grade differs might even differ in $50 to $100 price, and even the rarest and highest grade of MS 67 would at least worth thousands of dollars.
However, finding 1983 pennies worth money would be very rare, and the chances of finding the rare grade pennies, such as error pennies are vanishingly small.
Most likely you would end up with the pennies that still have an initial face value of $0.01, and if you are a bit lucky, perhaps you could find some good or Fine grade coins that could be worth at least $10 to $15.
While some pennies might only have an initial face value of one cent, other pennies might have a price increase, due to the error in the coins themselves.
These are called error pennies. We would explain what is error pennies, and the error penny list that might increase the value of a penny.
1983 Penny and 1983 D Penny Error List
Error pennies are referring to the type of pennies that has a slight error on their coin surface. The error ranged from broken inscriptions, broken die, double died mint, pre-punched mint mark, and many more.
Some errors are most likely caused by environmental exposure, damage when the coin is in circulation, and discoloration from exposure. However, there are also very rare mintage errors.
Mintage error refers to the error caused by the errors or mistakes during the coin mintage. The error might cause the die or minted mark to be off-center, re-punched, etc.
This type of error penny is much more valuable because of its rarity, and oddities. Some of the 1983 copper penny values might increase a lot thanks to rare errors like this.
See Also: ” 1982 Penny Error List, 1984 Penny Value, 1980 Penny Value, 1989 Penny Value, 1985 Penny Value, 1986 Penny Value, 1987 Penny Value, 1988 Penny Value, 1964 Penny Value, 2009 Penny Value ”
Some of the error pennies that you should keep your eye on such as:
- Double Die Penny – Double die penny is a penny that has been in constant exposure, and the die on the surface of the penny has been broken, revealing the double layer of the die. This type of 1983 d penny double die error can increase its value by quite a good amount, at least $15 to $20.
- Re-punched Penny – Re-punched marked penny, is when they die on the surface of coins has been double punched on the mark, making it have a double mark and double the layer.
- Off-center Marked Penny – Off-center mark penny is a penny that has an off-center mark, meaning that the inscriptions and the die are off the mark as they should be from the usual penny. This is quite a rare find, and it would cost around $20 to $25 more than a regular older antique 1983 Lincoln penny.
Frequently Asked Questions Regarding About 1983 Penny Value And Worth
If you want to become a coin collector, the 1983 penny is one collection that you can easily gather, and get your hands on, and since the year is quite recent, it is also not very hard to get. However, collecting the worthwhile specimens of 1983 Lincoln pennies might not be as easy as it looks.
Even though the coin itself is pretty common, however, the specimens that are worth your money are few, and rare specimens that could be worth hundreds of dollars are even rarer.
If you want to start your collection, here are a few notable frequently asked questions regarding the 1983 penny
How Much is a 1983 D Penny Worth?
It depends on the grading of the D penny, conditions, overall rarity of the coins, errors it might have, lusters, and eye-appealing features. Just like we mentioned earlier, the better the grade of the coin, it means it has better, more eye-appealing features. Some higher-end grades of coins might even be treated like precious gems.
The 1983 D penny is usually worth around $0.06 to $2 for the most common grade, for the good grade it might be worth at least $4 to $5, and the fine grade would cost around $9 to $12.
However, some rarer varieties such as with error pennies, and the MS grade might even be worth more than hundreds of dollars.
How Can You Tell if a 1983 D Penny is Copper?
You can tell if the 1983 d penny is copper by the discoloration of the penny. The copper penny has significant brownish-red hue color. This discoloration is due to the oxidation of bronze in the composition of the penny. Bronze are metals that will turn reddish-brown when exposed to the air for a long time.
The 1983 d copper penny value comes from the bronze materials and the copper value that it might have in weight.
What is a 1983 Penny Worth and What Makes a 1983 D Penny Rare?
Due to the commonality, and specifications of 99.2% Zinc, most of the 1983 Penny were valued with their initial face value of one cent. However, some special coin specimens such as the D-penny, and S-proof penny, where it has quite different compositions, and copper composition can have their value increased by quite a lot.
Some 1983 d penny is quite common; however, there are also other specimens of 1983-d Penny that are quite rare, thanks to their shorter shortage, rarities, and oddities.
To the untrained eye, the 1983 penny value might even be just another one-cent piece, that is only worth changes and your pocket pennies.
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
However, to some expert coin collectors, some of these pieces of penny might even be worth so much and even can be worth hundreds and thousands of dollars, if the specimen is correct and it has luster gems of eye-appealing features.
To put it simply, 1983 penny value are different based on their category and grade. The grade is assessed through the conditions, lusters, and rarities of its coin. The better the grade, the more it is worth in the current antique coin market.
Related:
1976 Penny Value
1999 Penny Value
1981 Penny Value
1997 Penny Value