The humble penny tends to be overlooked by coin collectors, but there is one year that stands out as truly exceptional for one cent pieces – 1982. Due to a significant change in the coin‘s composition combined with minting errors and varieties, some 1982 pennies are worth thousands of dollars, with the most valuable example selling for a record $18,800.
Whether you‘re a longtime Lincoln cent collector or just getting started in the hobby, the 1982 penny is a must-have coin to appreciate and understand. In this guide, we‘ll dive deep into everything you need to know about 1982 pennies, from their history and varieties to their current and future value.
The 1982 Transition from Copper to Zinc
In the early 1980s, the US Mint faced a problem. The price of copper had risen so much that it now cost more than one cent to mint a penny. Minting pennies at a loss was obviously not sustainable.
After experimenting with alternate materials like aluminum, the mint settled on a cheaper composition – copper-plated zinc. The new zinc penny consisted of a solid zinc core (97.5% of weight) covered with a thin copper plating (2.5% of weight). Overall, the zinc penny weighed 2.5 grams vs 3.11 grams for the old copper penny.
The transition rolled out in phases across the mints in 1982:
- Philadelphia (no mintmark) – zinc pennies introduced in January
- West Point (W mintmark) – zinc pennies introduced in January
- San Francisco (S mintmark) – zinc pennies introduced in January
- Denver (D mintmark) – zinc pennies introduced in October
This phased transition, combined with the use of both copper and zinc planchets and the switch from large to small date dies, resulted in the minting of 8 distinct varieties of 1982 circulation pennies across the 4 mints.
The 8 Key Varieties of 1982 Pennies
Here are the 8 main varieties of business strike 1982 Lincoln cents to collect, along with their relative scarcity and value:
- 1982 Brass (Copper) Large Date – Common, 10-20 cents
- 1982 Brass (Copper) Small Date – Rare, $2,000+
- 1982-D Brass (Copper) Large Date – Very Common, 1-2 cents
- 1982-D Brass (Copper) Small Date – Unique, $18,000+ if found
- 1982 Zinc Large Date – Very Common, 1-2 cents
- 1982 Zinc Small Date – Common, 10-20 cents
- 1982-D Zinc Large Date – Extremely Common, 1 cent
- 1982-D Zinc Small Date – Scarce, $5-10
As you can see, most varieties are quite common, but a couple are rare and valuable, especially in pristine uncirculated condition. Let‘s take a closer look at the two most notable varieties.
The $18,800 1982-D Small Date Copper Penny
The undisputed king of 1982 pennies is the 1982-D small date copper (brass) cent. The Denver mint supposedly used only zinc planchets (coin blanks) once it began minting pennies in October 1982. However, at least one copper planchet from earlier in the year apparently got mixed in with the zinc, resulting in the minting of a lone small date copper penny.
Only one example has been found, graded About Uncirculated 58 by PCGS. It sold at auction in 2017 for a stunning $18,800, making it one of the most valuable Lincoln cents and a modern rarity on par with the 1943 copper penny or 1955 double die.
The Elusive 1982 Small Date Copper Penny
While not as rare as its Denver counterpart, the Philadelphia small date copper penny is still a key variety for collectors, with only about a dozen examples known. Apparently a few leftover copper planchets were still in the hoppers when Philadelphia started using zinc in mid-1982.
PCGS CoinFacts estimates the 1982 small date copper penny value in the $2,000 to $2,500 range for circulated examples and over $20,000 for uncirculated. It‘s a true prize for any collector but also a costly one!
1982 Penny Value Chart
This table shows the 1982 penny value for each of the 8 main varieties across a range of grades. Grades below XF are considered circulated and above are uncirculated. Valuations are from PCGS CoinFacts and represent retail pricing for PCGS certified examples.
Variety | AG3 | G4 | VG8 | F12 | VF20 | XF40 | AU50 | MS60 | MS63 | MS65 |
---|---|---|---|---|---|---|---|---|---|---|
1982 Brass LgDt | $0.10 | $0.10 | $0.10 | $0.10 | $0.15 | $0.20 | $0.30 | $1.00 | $2.00 | $4.00 |
1982 Brass SmDt | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,500 | $3,000 | $10,000 | $20,000 | $30,000 |
1982-D Brass LgDt | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.05 | $0.10 | $0.25 | $0.75 | $2.00 |
1982-D Brass SmDt | $18,000 | $18,000 | $18,000 | $18,000 | $18,000 | $18,800 | $20,000 | $30,000+ | $50,000+ | $100,000+ |
1982 Zinc LgDt | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.05 | $0.50 | $5.00 |
1982 Zinc SmDt | $0.10 | $0.10 | $0.10 | $0.10 | $0.15 | $0.20 | $0.30 | $1.00 | $2.00 | $4.00 |
1982-D Zinc LgDt | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.05 | $0.25 |
1982-D Zinc SmDt | $5.00 | $5.00 | $5.00 | $5.00 | $6.00 | $7.50 | $10.00 | $15.00 | $20.00 | $30.00 |
As the chart shows, condition matters more for the already scarce varieties, while circulated examples of the common varieties have little premium. Finding any of these coins in high mint state (MS65+) is challenging, which is why values increase exponentially in those grades.
1982 Penny Errors and Varieties
In addition to the regular 8 varieties, collectors also need to be on the lookout for 1982 penny errors and varieties. Some scarce and valuable ones to watch for:
Off-Center Strikes – Pennies struck off-center by 5% to 95% are collectible errors, with value up to $100+
Double Denominations – Very rare errors occur when a penny is overstuck on another denomination like a dime or quarter. Value can exceed $1,000.
Double Die Obverses/Reverses – Doubling of words, dates and images can occur when the die imprints an image twice slightly offset. Values range from $20 to $500 based on visibility.
Transitional Planchet Errors – Zinc planchets struck with copper dies or vice versa, similar to the copper 1982 D small date but usually weaker strikes. Still very valuable at $2,500+.
Finding these errors requires attentive searching with a magnifying glass. Some of the most valuable 1982 pennies are error coins in high grade, like a double die small date brass penny graded MS64 red that sold for $7,200 in 2015.
How to Tell Copper and Zinc Pennies Apart
One of the first skills every collector needs to master is how to distinguish the copper and zinc 1982 pennies. Since they look practically identical, you have to use other methods:
The Drop Test – Copper and zinc pennies sound quite different when dropped on a hard surface. Copper makes a high-pitched ring, while zinc makes a dull thud.
Weighing – A precise scale is the most reliable test. Copper weighs 3.11 grams, while zinc weighs just 2.5 grams. Allow a tolerance of ±0.13 grams for copper and ±0.10 grams for zinc.
Magnetic Slide – Copper is non-magnetic while zinc is slightly magnetic. A strong magnet will visibly drag or slide a zinc penny when held at an angle.
The date size (large vs small) can be quickly distinguished visually. On large dates, the "9" and "8" are taller than the "1" and "2". On small dates, all 4 digits are the same height.
Are 1982 Pennies Good Collectibles?
Absolutely! 1982 pennies offer several advantages for both new and experienced collectors:
- Plenty of interesting and affordable varieties for all budgets
- Potential to find valuable errors and rarities in circulation
- Opportunity to assemble a complete 8-piece variety set
- Historically significant as a transitional year for US coinage
- Copper 1982 pennies have bullion value around 2 cents each
As with any collectible, look for high grade examples, certified by PCGS or NGC if possible. Also keep an eye out for toned or colored coins, which can bring a premium. Building a collection of 1982 pennies is a fun pursuit that can also be financially rewarding over time.
The Future of the Penny and 1982 Values
The US Mint currently spends about 2 cents to make each penny, so there is much debate around discontinuing the denomination. Many countries like Canada have already stopped making pennies to cut costs.
If the penny is abolished, that would likely increase collector interest and values for all Lincoln cents, especially the 1982 varieties. However, this has been discussed for over a decade without action, so don‘t expect change anytime soon.
Nonetheless, the rare 1982 pennies like the copper 1982-D small date will almost certainly continue to appreciate, as they have crossover appeal with both Lincoln cent and error/variety collectors. Gem examples of even the common 1982 pennies may also gain value over time due to the attrition of the surviving populations.
In Summary
The 1982 Lincoln cent is a fascinating and complex issue that includes some of the rarest and most valuable pennies ever struck. By understanding the history and collectible varieties, you can assemble a rewarding set that will be the centerpiece of your collection. So get searching those penny jars and rolls – you never know when you might find a 1982 penny worth a small fortune!
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