How Much Is a Penny From 1973 Worth?
Is your 1973 penny valuable? Understand the factors influencing its worth and learn how to assess its condition and next steps.
The 1973 Lincoln Memorial penny often appears to be a common coin, typically valued at one cent. While most circulated widely and hold minimal monetary significance, certain varieties or exceptional conditions can increase their worth. These rare examples attract collectors, transforming an ordinary cent into a valuable numismatic item. Understanding these nuances helps determine if your 1973 penny is a hidden treasure.
Factors Influencing Value
Several characteristics elevate a 1973 penny’s value. Mint marks indicate where a coin was produced. Philadelphia Mint pennies bear no mint mark, while Denver Mint coins feature a “D” and San Francisco Mint coins display an “S”. Philadelphia produced the highest number of pennies, making them the least valuable in circulated condition. The San Francisco Mint produced fewer coins, especially proof coins for collectors, making them more sought after.
Minting errors and varieties also contribute to a penny’s rarity and value. A common type is the “doubled die” error, where parts of the design, such as lettering, the date, or Lincoln’s features, appear duplicated. Depending on the doubling and the coin’s condition, these errors can fetch between $25 and $100. Other errors include “off-center strikes,” where the design is noticeably shifted, valued from $10 to over $50.
“Repunched mint marks” (RPMs) occur when a mint mark is stamped more than once or misaligned. “Die breaks” or “die cuds” appear as raised bumps or lines from cracks in the coin die, adding to desirability. Mintage figures, the total number of coins produced, directly impact rarity; lower figures indicate a more valuable coin. A coin’s condition is also a factor in determining its market value.
Assessing Your Penny’s Condition
Evaluating your 1973 penny’s condition helps understand its potential value. Begin with a visual inspection, looking for signs of wear, scratches, dents, or environmental damage like corrosion. Pay close attention to key areas on the Lincoln Cent that show wear first, such as Lincoln’s jawline and the Lincoln Memorial details on the reverse. The clearer these details appear, the better the coin’s condition.
Original mint luster is another important indicator; coins that retain their original shine are more valuable. Cleaning a coin, even with gentle methods, can remove this luster and cause microscopic abrasions, significantly diminishing its numismatic value. Avoid cleaning any coin you suspect might be valuable.
Coins are categorized by condition, from “good” (heavily worn) to “uncirculated” (no signs of wear). Uncirculated coins, especially “Mint State” (MS) designations, can command hundreds or even thousands of dollars. Collectors also classify pennies by color: “Red” (RD) coins retain at least 95% of their original copper color and are the most valuable, followed by “Red-Brown” (RB) and “Brown” (BN). A 1973 penny’s 95% copper composition contributes to its potential for attractive toning and color retention.
Getting Your Penny Appraised or Sold
If your 1973 penny is in exceptional condition or exhibits a potential error or variety, seek a professional appraisal. Find reputable numismatists or local coin dealers through organizations like the American Numismatic Association (ANA). These professionals provide expert opinions on your coin’s authenticity and market value.
The appraisal process varies; some local coin shops offer free informal estimates if interested in purchasing the coin. Formal appraisals can cost from $100 to $250 per hour or $50 to $100 per coin. Professional grading services, such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company), offer third-party authentication and grading, which can enhance a coin’s market value. Submitting a coin for professional grading incurs fees ranging from $35 to over $110, depending on the service level and declared value.
Once your penny’s value is established, several avenues exist for selling it. Local coin dealers provide immediate offers and a straightforward transaction. For higher returns, online auction sites like eBay offer a broad marketplace. Specialized numismatic auction houses such as Heritage Auctions, Stack’s Bowers, or GreatCollections cater to serious collectors and high-value coins. Each selling method has its own benefits and considerations regarding fees, reach, and convenience.