The 1987-S Lincoln Penny is worth anywhere from $1 to $5 in typical circulated condition, but proof versions — which is exactly what the “S” mint mark means — can be worth $3 to $10 or more depending on grade and eye appeal. If you found one of these in an old coin collection or proof set, you’re in the right place to learn more.
What Does the “S” Mint Mark Mean on a 1987 Penny?
The “S” on a 1987 Lincoln Penny stands for the San Francisco Mint. Here’s the thing — the San Francisco Mint didn’t produce pennies for general circulation in 1987. Instead, it made special proof coins specifically for collectors. These coins were struck using polished dies and specially prepared planchets, giving them that mirror-like finish you’ll notice right away compared to a regular penny.
Proof coins were sold directly to collectors as part of official U.S. Mint proof sets, not released into everyday change. So if you’ve stumbled across a 1987-S penny, it likely came from one of these sets. That already makes it a little more special than your average Lincoln cent from your pocket change.
If you’re not sure what you’re looking at, using the best coin identifier app can help you quickly confirm whether your coin is a proof strike or something else entirely — it takes just a few seconds with your smartphone camera.
1987-S Lincoln Penny Value by Grade
The condition of a proof coin matters a lot, and it’s graded on a scale from PR60 (lowest proof grade) to PR70 (perfect). Most 1987-S Lincoln Proof pennies you’ll encounter fall in the PR65 to PR69 range. A PR70 example — absolutely flawless — is exceptionally rare and can bring strong prices from serious collectors.
Here’s a quick breakdown of estimated values:
| Grade | Description | Estimated Value |
|---|---|---|
| PR60 | Proof, noticeable hairlines | $1 – $2 |
| PR65 | Gem Proof, minor contact marks | $3 – $5 |
| PR67 | Superb Gem, near flawless | $5 – $8 |
| PR69 | Near perfect surfaces | $8 – $15 |
| PR70 | Perfect Proof | $25 – $50+ |
For a more detailed look at current market data, you can check out the 1987 Lincoln Penny price data by grade and condition to see how recent sales stack up.
How Many 1987-S Proof Pennies Were Made?
The U.S. Mint produced approximately 4,227,728 proof pennies at the San Francisco Mint in 1987. That sounds like a lot — and it is. Because of the relatively high mintage, the 1987-S proof penny isn’t considered rare in most grades. Most examples in circulated or lightly handled proof condition are worth just a few dollars.
That said, coins graded PR69 Deep Cameo (DCAM) or PR70 DCAM — where the devices show a frosted, cameo appearance against a mirror-like field — are scarcer and command better prices. Deep cameo examples are what serious collectors go after, and those can be worth $10 to $50 or more depending on the grade.
CoinHix is a great tool to check recent sale prices for specific grades if you want to know exactly where your coin stands in today’s market.
Is the 1987-S Penny Worth Getting Graded?
Honest answer? For most people, probably not. Professional grading through PCGS or NGC typically costs $20 to $40 or more per coin, which easily exceeds the value of a typical 1987-S proof penny. Grading makes more financial sense if you believe you have a PR69 or PR70 specimen, or a Deep Cameo example that could attract collector interest.
If you found a complete 1987 proof set with original packaging and the certificate of authenticity, keep it intact. An unbroken proof set often sells for $5 to $12 on platforms like eBay, which isn’t bad for something sitting in a drawer.
You can also review a full breakdown of the 1987 penny’s value across mint marks and conditions to get a complete picture before deciding whether to sell, hold, or get it graded.
For quick on-the-go lookups, CoinHix lets you scan and identify coins instantly — perfect if you’re sorting through an old collection and want fast answers without spending hours researching.
Tips for Selling or Holding Your 1987-S Lincoln Penny
If you’re thinking about selling, here are a few practical tips:
– Keep the coin clean — or rather, don’t clean it. Cleaning a proof coin destroys value instantly. Even gentle polishing can drop it from PR65 to ungradable.
– Store it properly. Use a soft coin flip or airtight capsule to prevent scratches and toning.
– Check completed eBay sales to see what similar coins actually sold for — not just asking prices.
– Consider selling as a set. If you have the full 1987-S proof set, it may sell faster and for more than individual coins.
Using CoinHix makes it easy to track current values and compare your coin against recent sales — a smart habit whether you’re a casual finder or a growing collector.
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FAQ
Q: Is the 1987-S penny rare?
A: Not particularly. With over 4 million struck, it’s widely available. High-grade examples with Deep Cameo designation are harder to find, but typical proof examples are common among collectors.
Q: Can I find a 1987-S penny in pocket change?
A: It’s very unlikely. The San Francisco Mint only produced these as proof coins for collector sets, so they were never released into general circulation. If you find one, it came from a proof set.
Q: What’s the most valuable version of the 1987-S penny?
A: A 1987-S Lincoln Cent graded PR70 Deep Cameo by PCGS or NGC is the top tier. These can sell for $30 to $50 or more, though they are difficult to find in that condition.
