Unique and intriguing, the 1982 cent is highly regarded by numismatists. It is notably diverse in composition, with some composed of 95% copper and 5% zinc, while the remainder consists of zinc with copper plating.
This Lincoln Memorial cent is readily identifiable, and while a coin in merely average condition is valued at no more than $1, rare error specimens in mint condition can garner thousands of dollars. In 2021, the 1982-D zinc composition Lincoln cent with a Small Date set an auction record of $18,000.
1982 Penny: Background
The 1982 penny, alternatively referred to as the 1982 Lincoln Memorial cent, is an American-minted one-cent coin. The composition of the U.S. cent before 1982 was a copper-based alloy consisting of 95% copper and 5% zinc.
In contrast, due to escalating copper costs, the United States Mint altered the penny’s composition in 1982, substituting copper plating for the zinc core. The 1982 century was distinct from its predecessors in appearance and composition.
The minting of this cent occurred in three distinct locations. There are many variations on the cent, such as larger or smaller dates, compositions that differ, or modified dies used instead of standard ones.
An intriguing narrative about the 1982 penny revolves around a cohort of collectors who fortuitously encountered an exceedingly rare error coin. A limited quantity of 1982 pennies was inadvertently produced using pre-1983 copper planchets 1982. Due to their scarcity and one-of-a-kind nature, these error coins, referred to as “transitional errors,” are exceedingly desirable among collectors.
A cohort of penny collectors examined a container containing 1982 pennies in the early 1990s when they observed that a subset of the coins possessed an unusual weight and hue. They realized upon closer investigation that they had discovered an entire handful of these uncommon transitional error coins.
After successfully validating their discovery, the collectors traded their erroneous coins for multiples of thousands of dollars each. This narrative underscores the exhilaration and value inherent in the realm of coin collecting while also emphasizing the numismatic significance of the 1982 penny.
1982 Penny: Identification And Design
The design of the cent issued in 1982 resembles the initial Lincoln penny design, which debuted in 1909. The 1982 penny showcases a portrait of Abraham Lincoln, the 16th President of the United States, on its obverse, while the Lincoln Memorial is depicted on its reverse.
The 1982 cent is marginally more voluminous than its predecessors and features a sleek, unadorned periphery. The design of this cent was attributed to the esteemed engraver Victor D. Brenner. This coin was minted in a total of 10,712,525,000 units.
The “first generation” (or copper) pennies of 1982 were manufactured using a composition of 95% copper and 5% zinc. They measured 19 millimeters in diameter and weighed 3.11 grams. These were struck in San Francisco (“S” mint mark), Philadelphia (“D” mint mark), and Denver (“D” mint mark).
The 1982 “second generation” (or zinc) pennies are 19 millimeters in diameter, 2.5 grams in weight, and are composed of copper-plated zinc.
What Makes A 1982 Penny Rare?
A 1982 penny’s value may fluctuate to its condition, scarcity, and demand. Coins in exceptional condition or possessing distinctive qualities, such as rare errors, may experience a substantial appreciation in value.
It is crucial to acknowledge that the valuation of a 1982 penny is subject to variation due to many factors, encompassing prevailing market trends and the demand for particular coins. The values presented in the illustration below are accurate as of the time of writing and are intended to function as a general guide, as reported by USA Coin Book and PCGS.
With current market data or the assistance of a professional appraiser, it is always advisable when attempting to ascertain the precise value of a specific coin.
1. 1982 Penny: Auction Records
We have amassed a collection of auction records for coins that grossly outperformed expectations for each of the 1982 Lincoln cent varieties detailed in the value above chart.
2. 1982-P 1C Copper, Large Date
The most expensive 1982 Lincoln cent produced in Philadelphia, featuring a large date form and a copper composition, attained an auction record of $1,495 in 2018. It was offered for sale on eBay with a grade of MS67+.
3. 1982-P 1C Copper, Small Date
Penny-graded PCGS MS67+ holds the auction record for the copper composition cent featuring a tiny date mint-minted in Philadelphia. The sheen was an opulent orange, suggesting that the coin had recently emerged from the mint, whereas the toning was described as a deep violet.
This 1982-P Lincoln cent with a small date copper composition sold at Heritage Auctions in 2014 for $9,987.50!
4. 1982-D 1C Copper, Large Date
Although this may be the least remarkable auction record on our list, it does not preclude a better-preserved 1982 Denver-minted copper cent from surpassing the current record. A 1982-D Lincoln cent with a large date copper composition sold for $445 in 2012. It was offered for sale via eBay with a grade of MS67.
5. 1982-S 1C Copper
Only at the 1982-S 1C Copper mint in San Francisco were prototype versions of the penny struck. This characteristic renders it highly sought after by numismatists. In 2013, a PR70-graded 1982-S Lincoln Cent featuring a deep cameo was sold for $7,080. It was distributed via Stack’s Bowers and was described as “as struck.”
6. 1982-P 1C Zinc, Large Date
In 2012, a Philadelphia-issued 1982 Lincoln cent featuring a Large Date set an auction record of $2,401. It was sold via eBay with a PCGS MS68 grade.
7. 1982-P 1C Zinc, Small Date
The all-time high for a 1982 Lincoln cent featuring a small date form and a copper-coated zinc composition increased by several thousand dollars to $15,600 in 2019. It was described as being in impeccable condition (PCGS MS69 grading! ), radiant salmon-pink in hue, and possessing a satiny sheen.
8. 1982-D 1C Zinc, Large Date
The Denver-minted Lincoln cent from 1982, featuring a large date form and a zinc composition, has achieved an auction record of $1,880. The cent above was considered a Superb Gem due to its impeccable luster and dazzling orange detailing. PCGS MS68 graded, it was distributed via Heritage Auctions.
9. 1982-D 1C Zinc, Small Date
Finally, but surely not least, is the auction record that surpasses all others and serves as the gang’s leader. A minuscule date form on a 1982 Denver-minted zinc composition Lincoln cent sold for an astounding $18,000 in 2021. PCGS-certified, the item was sold via eBay.
Factors Influencing Rarity
- Composition and Weight: Collectors employ precision scales to distinguish between copper and zinc pennies, which can be misidentified based solely on appearance.
- Date Font Size: The differentiation between small and large dates necessitates an astute observation, as the former is more uncommon and potentially more valuable in specific compositions.
- Minting Errors: Minting errors, including but not limited to double dies, off-center strikes, and other anomalies, have the potential to enhance the rarity and value of any 1982 penny substantially.
- Condition: The condition of a cent has a significant impact on its value. Uncirculated or mint-condition pennies are considerably more valuable than those with circulation-related wear and tear.
Rare 1982 Penny Error List
The presence of defects on 1982 pennies is unsurprising, given the year’s substantial mintage. Specific errors render them exceedingly uncommon and substantially increase their value. The most frequent 1982 dime errors have been highlighted in this section.
1. 1982 Penny Value Double Die Error
The most well-known error on 1982 pennies is the double die error. It occurs when a vacant planchet receives a second impression of the design from a worn-out coin die.
Doubling die errors are prevalent on “no mint mark” Lincoln cents from 1982. Upon acquiring such a coin, examine the obverse and reverse for duplication, paying particular attention to the lettering. Additionally, confident Denver works from 1982 may exhibit doubling, specifically in Lincoln’s ear.
Depending on their grade, 1982 pennies with double die defects can be worth anywhere from $150 to $200.
2. 1982 Penny Value Occluded Gas Bubbles Under Plating Error
Another error that merits attention is the occlusion of gas pockets beneath the plating error. It occurs when air pockets form beneath the penny’s surface due to the high temperatures generated by striking the plain planchet.
A 1982-D discovered in 2016 with occluded gas pockets was sold for $39.
3. 1982 Penny Value Struck Off-Centre Error
A final error that collectors exceedingly covet is the off-centre error. As the name implies, specimens bearing this error have their designs incised off-centre, leaving a substantial blank area.
The value of these coins can range from $90 to $120, contingent upon factors such as the degree of deviation, coin hue, and overall condition.
In conclusion, Coin collectors hold the 1982 dime in high regard because it represents a turning point in the evolution of American currency. The diverse compositions and sizes of the dates present a fertile ground for numismatic investigation and accumulation. Although most of the 1982 pennies are obtainable by collectors of all skill levels, locating the rarer varieties, particularly those in pristine condition, can be gratifying, highlighting the intricate and captivating realm of coin collecting.
Thank you for reading…
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