Now and then we all come across those interesting, old versions of pennies, dimes, and half dollars that leave us excited and in hope they’re worth a lot of money. Paying attention to one’s changes and the coins you’re getting can lead you to some great discoveries, like the 1972 Lincoln penny. As impossible as it may seem at first, coming across one such penny isn’t that hard.
The 1972 Lincoln penny was produced in large quantities, and the Lincoln penny overall was produced in hundreds of millions of specimens over several decades. So, if you’ve already come across your own 1972 penny specimen, or you’re looking to purchase one, this is the best place to start your journey. In the following paragraphs, we’re going to cover everything you need to know; from its history, design, and appearance, to the current market value and price. So, without further ado, let’s dive right in!
The 1972 Penny – Everything You Need To Know
The History and Origin
To understand the history and origin of the 1972 Lincoln penny, we need to go back in time to a few decades when it was first introduced to the American public as well as the coinage system. It is the year 1904, and President Theodore Roosevelt decides that the American coins, especially pennies, lack the artistic value of the European coin. So, what does he do? He hires actual artists to prepare new coin designs, under the surveillance of the U.S. Treasury. The goal was to make these new pennies as unique and outstanding as possible while keeping them in line with the American spirit, history, and overall meaning.
Fast forward to 1909; the penny is finally introduced as a part of the commemoration of the 100th anniversary of Abraham Lincoln’s birth. It featured a portrait of Lincoln on the obverse side and two wheat ears on the reverse side. This design, created by sculptor Victor David Brenner, remained largely unchanged until 1959 when it was replaced by the Lincoln Memorial design. The new design, featuring the Memorial building, was created by the sculptor and engraver, Frank Gasparro.
The new penny design was so iconic and appreciated by the public that it stuck around until 2008. The following year, in 2009, a Lincoln Bicentennial one-cent program came into place to honor the bicentennial year of Abraham Lincoln’s birth. The new design was to honor and represent the most significant moments from the President’s life.
The Coin Features
The 1972 Lincoln penny contains the same features first introduced in 1959; those were the new features created by the previously-mentioned Frank Gasparro and included the new reverse design. Though many agreed the new design was suitable and even artistic, the majority of engravers and artists claimed that the appearance of the Memorial building on the reverse was nothing more than an artistic trainwreck. Nevertheless, the penny continued and reached a total of 5.978.526.504 in minting numbers. This shows that the 1972 Lincoln penny isn’t rare, nor hard to find nowadays, and as such isn’t much of worth, unless in pristine, or proof condition.
- The obverse of the coin
The obverse of the 1972 Lincoln penny features the portrait of President Abraham Lincoln, as well as the inscription In God We Trust, at the very top rim of the coin. On the right side, there’s the Date, in some cases a mint mark (D or S, for mints in Denver and San Francisco, where to coin would have been minted), and to the left side, there’s the inscription Liberty, right behind the President Lincoln’s back. Bear in mind that, if the coin doesn’t feature a mint mark on the obverse, it doesn’t mean it is not a real coin; the lack of a mint mark simply suggests it was minted in the Philadelphia mint.
- The reverse of the coin
The 1972 Lincoln Cent features a design with the Lincoln Memorial in the center (instead of the two wheat ears)on the reverse. The initials of the obverse designer, Frank Gasparro, were also included, next to the right side of the Memorial stairs. If one looks closely, there is also a statue of President Lincoln between the pillar of the Memorial. This makes the coin rather unique, as it features the President on both sides. Above the Memorial building, there is the inscription United States of America, and right in between is the motto E Pluribus Unum (meaning, one of many). The is also the denomination One Cent at the very bottom of the coin.
Minting Numbers and Rarity
By no means is the 1972 Lincoln penny rare or highly valuable among coin collectors, those professionals/experts, or amateurs. The sentimental value, however, is there. Nevertheless, the fact that the Lincoln penny was minted in incredibly high numbers over many decades, as well as the fact that it is rather easy to come across one such penny, make this coin rather invaluable. Let’s look at the exact minting numbers so you can get a clearer understanding of our claims;
| 1972 Memorial Lincoln Penny | ||
| Location | Year | Minted |
| Philadelphia | 1972 No Mint mark penny | 2,933,255,000 |
| Denver | 1972-D penny | 2,666,071,400 |
| San Francisco | 1972 -S penny | 376,939,108 |
| San Francisco | 1972-S penny (proof) | 3,260,996 |
| Total | / | 5,978,526,504 |
The 1972 Memorial Lincoln Penny Value
When it comes to determining the current market value of the 1972 Lincoln Memorial penny value, we need to consider a few things. Coins coming from different mints will have a slightly different value. The least valuable ones are the ones without any mint mark, indicating they were struck and issued in Philadelphia, as previously mentioned.
The 1972 Lincoln penny that contains a D mint mark was made in Denver, and as such is slightly more valuable. The most valuable pennies and coins in general were struck in the San Francisco Mint, which are in this case proof coins as well.
Furthermore, the coin’s grade is also essential when it comes to its value. Any coin with a grade of MS 60 upwards is significantly more valuable than, for example, pennies and coins deemed to be of fine or good condition, especially when compared to the face value. And, of course, if a coin is uncirculated (was never released into public use, or circulation), or if it’s a proof example, the value will increase significantly. Error 1972 Lincoln Memorial pennies are commonly highly sought-after and of significant value; in some cases even higher than the proof coins.
Now that we have all the necessary information, let’s take a closer look at the current market value of the 1972 Lincoln Memorial penny or cent;
No Mint Mark (Minted in Philadelphia)
- Category: Lincoln Cents, Memorial Reverse (1959-2008)
- Mint: Philadelphia
- Mintage: 2,933,255,000
- Obverse Designer: Victor D. Brenner
- Reverse Designer: Frank Gasparro
- Composition: Brass
- Weight: 3.11 g
- Diameter: 19 mm
- Edge: Plain
The 1972 Lincoln Memorial Cent minted in Philadelphia has no mint mark. It is considered to be a regular strike coin, and has a lower grade and a lower price in the current market, especially when compared to the same 1972 Lincoln pennies minted in Denver in San Francisco. The minting numbers of the No Mint Mark, or Philadelphia 1972 Lincoln cent reach 2,933,255,000. The current market price of the 1972 Lincoln penny, No Mint Mark specimen, varies between $0.05 (good condition, average price), and $7.50 (MS 67), while the highest auction record has reached the price of $3,290.00 (MS 67+ RD).
D Mint Mark (Minted in Denver)
- Category: Lincoln Cents, Memorial Reverse (1959-2008)
- Mint: Denver
- Mintage: 2,665,071,400
- Obverse Designer: Victor D. Brenner
- Reverse Designer: Frank Gasparro
- Composition: Brass
- Weight: 3.11g
- Diameter: 19mm
- Edge: Plain
The 1972 Lincoln Memorial cent minted in the Denver mint features a ‘D’ mint mark. On the market, the ‘D’ penny is slightly more valuable than the Philadelphia penny, and as such it has a higher price as well. The minting numbers of the Denver 1972 Lincoln penny reach 2,666,071,400, which is a slightly lower minting number than that of the Philadelphia mint. The current market price for this coin ranges between $0.05 and $7.50, while the auction record has reached $3,290.00 (MS 67+ RD). An auction record of $4,250.00 (MS 67+) was also recorded on eBay.
S Mint Mark (Minted in San Francisco)
- Category: Lincoln Cents, Memorial Reverse (1959-2008)
- Mint: San Francisco
- Mintage: 376,939,108
- Obverse Designer: Victor D. Brenner
- Reverse Designer: Frank Gasparro
- Composition: Brass
- Weight: 3.11g
- Diameter: 19mm
- Edge: Plain
The San Francisco Mint struck regular and proof 1972 Memorial Lincoln pennies. These would be the highest in demand, but always the highest in value among the three. Despite the SF mint not usually producing as many coins as the Philadelphia and Denver mint, we can say that they did produce unusually low numbers of the 1972 Lincoln penny; around 376,939,108 of the regular -S pennies, and 3,260,996 of the 1972-S Lincoln proof pennies.
As a result, almost all of the coins ended up in circulation, and their value is particularly modest. The current market price for this coin ranged between $0.05 (MS G Brown, good condition), and $7.50 (MS 67), while the auction record has reached $1,955.00 (MS 67). An auction record for the 1972-S Proof (PR) Lincoln penny has reached $1,495.00 (PR 69).
Error 1972 Memorial Lincoln Penny
Errors in the minting process are a normal occurrence. As millions of coins are being struck, errors are bound to happen, resulting in dimes missing coating, for example, being clipped, the design being improperly positioned, etc. Despite the errors, these dimes and error coins, in general, are highly sought-after and can be extremely valuable. Depending on the actual error, the value can vary, as you’ll see in the following explanation;
- 1972 Lincoln Penny Double Die Error – This coin is most in-demand by numismatists and coin collectors. Around 250,000 1972 Lincoln pennies were released with this error. This error occurs when a coin is struck twice, and as a result, has a doubling of the design as well as inscriptions, on one or both sides. This particular coin was sold at an auction for a whopping $14,400.
- 1972-D Lincoln Cent Clad Dime Planchet Error – this error occurs when a part of the Planchet coil stock is not plated and then punched out as a blank. The blank manages to go through the entire process and leaves the mint without the plating layer, as a plain coin. Such an error coin can reach a price of up to $299.
Final Thoughts
If you’ve made it this far, congratulations! Now you’ve learned everything essential there is to learn about the 1972 Memorial Lincoln penny. Hopefully, this brief journey was fun and informative. For more information about the 1972 Lincoln penny, we recommend you check professional coin/bill grading services and their informative blog posts as well as active or closed auctions. This can help you understand how the value of a penny changes over time, and what can you expect regarding the market climate. We wish you the best of luck and happy collecting!
