1981-S Type 1 Lincoln Penny Value: What Is It Worth Today?
The 1981-S Type 1 Lincoln Penny is worth anywhere from $5 in typical proof condition to over $1,000 for rare, high-grade specimens. While you won’t find this specific coin in your pocket change, it remains a favorite for collectors due to its unique minting history and the “clear vs. filled” mint mark variety.
| Condition/Grade | Estimated Value |
|---|---|
| PR 65 (Standard Proof) | $5.00 – $8.00 |
| PR 69 Deep Cameo | $20.00 – $35.00 |
| PR 70 Deep Cameo (Perfect) | $500.00 – $1,200.00 |
Understanding the 1981-S Type 1 Proof Penny
If you have stumbled upon a shiny, mirror-like penny from 1981 with an “S” mint mark, you are looking at a Proof coin. Unlike the billions of pennies minted in Philadelphia or Denver for daily commerce, these coins were struck specifically for collectors at the San Francisco Mint. To quickly identify your find, you can use a free coin identifier app to see if your coin matches the proof characteristics.
The 1981-S Lincoln Penny is famous because the Mint changed the “S” puncheon (the tool used to stamp the mint mark) mid-year. This resulted in two distinct versions: the Type 1 and the Type 2. The Type 1 is often referred to as the “Filled S.” On these coins, the mint mark looks a bit “mushy” or clogged, and the loops of the “S” are not clearly defined.
Identifying these varieties requires a steady hand and a good magnifying glass, or better yet, a professional tool like CoinKnow. Most collectors find that the Type 1 is the more common of the two 1981 proof varieties, but its value still hinges heavily on its preservation. Because these were never meant for circulation, any signs of wear, scratches, or “toning” (discoloration) can significantly lower the price.
Detailed 1981-S Type 1 Lincoln Penny Price Guide
When determining the price of your coin, collectors look at the “grade” on a scale of 1 to 70. Since the 1981-S is a proof coin, it starts at a high baseline. However, the difference between a PR 67 and a PR 70 (a perfect coin) is hundreds of dollars. The current 1981-S Type 1 Lincoln Penny price data suggests that the market for high-end “Deep Cameo” examples remains very strong among registry set collectors.
| Professional Grade (PCGS/NGC) | Market Value (Type 1) |
|---|---|
| PR 60-64 (Average Proof) | $3.00 – $6.00 |
| PR 67 Deep Cameo | $12.00 – $15.00 |
| PR 69 Deep Cameo | $25.00 – $45.00 |
| PR 70 Deep Cameo | $600.00+ |
The “Deep Cameo” (DCAM) designation is crucial. This refers to the contrast between the frosted portrait of Abraham Lincoln and the mirror-like background fields. If your penny looks like a black mirror with a white, snowy Lincoln in the middle, it likely qualifies for this premium. Using CoinKnow can help you compare your coin to high-resolution images of Deep Cameo specimens to see if your coin has what it takes to be a top-tier rarity.
Type 1 vs. Type 2: How to Spot the Difference
The most common question for any amateur numismatist is whether they have the Type 1 (Filled S) or the Type 2 (Clear S). In 1981, the mint mark punch was getting worn down, making the “S” look like an indistinguishable blob—this is the Type 1. Late in the year, a new, sharper punch was introduced, creating the Type 2.
On the Type 1, the “S” is smaller and the bulbous ends of the letter tend to touch the middle diagonal, making it look “filled.” On the Type 2, the “S” is larger, flatter, and the openings in the loops are very clear and distinct. While the Type 2 is generally rarer and more valuable, the Type 1 is still a necessary piece for anyone trying to complete a full Lincoln Cent collection.
If you are looking for more information on 1981 penny variety values, you will find that while the Type 2 usually sells for a 50% to 100% premium over the Type 1 in mid-grades, a perfect Type 1 can still command an incredible price at auction due to its historical significance as the last of the “old” punch style.
Market Factors Influencing 1981 Lincoln Penny Value
Beyond the mint mark variety, copper content and surface quality play a huge role in the value of any 1981 cent. 1981 was the last full year that Lincoln Pennies were made of 95% copper. By mid-1982, the Mint switched to zinc coated with a thin layer of copper. Because of this, 1981 pennies have a higher “melt value” than modern ones, though it is currently illegal to melt them down.
| Key Value Factor | Impact on Price |
|---|---|
| Red (RD) Color | High (essential for top value) |
| Deep Cameo Contrast | Very High (adds 300% premium) |
| Surface Spots/Carbon | Negative (significantly lowers grade) |
Environment is the enemy of the 1981-S Type 1. If the coin has been removed from its original plastic lens in the United States Proof Set, it likely has developed “carbon spots” or minor scratches. Even a fingerprint can eventually eat into the copper surface, permanently lowering the grade. To keep track of your collection’s condition over time, CoinKnow offers excellent inventory tools that allow you to log the state of your coins.
Is It Worth Getting Your 1981-S Penny Graded?
Grading a coin involves sending it to a service like PCGS or NGC, which costs roughly $30-$50 per coin plus shipping. For a 1981-S Type 1 that is only worth $5, this is a losing investment. However, if you have a coin that looks absolutely flawless—not a single speck or hairline scratch under a 10x magnification—it could be a candidate for a PR 70 grade.
Check for “hazing” or “fog” on the surface. Many 1981 Proof Sets were stored in basements or attics, leading to a cloudy film on the coins. If your coin is perfectly clear and the “S” is noticeably filled, it might be worth the gamble. Most casual collectors are better off keeping the coin in a protective flip or leaving it in its original 1981 Proof Set packaging to maintain its current market value.
FAQ
##
Q: How can I tell if my 1981-S Penny is Type 1 or Type 2?
A: Look closely at the “S” mint mark under a magnifying glass. The Type 1 (Filled S) has rounded ends that seem to blend into the body of the letter, creating a “blob” appearance. The Type 2 (Clear S) has distinct, flat ends and clear circular openings within the “S.”
Q: Can I find a 1981-S Type 1 in my pocket change?
A: It is extremely unlikely. These were only issued in Proof Sets for collectors. If someone broke open a set and spent the penny, you might find one, but it would be heavily scratched and would lose its “Deep Cameo” status, making it worth only its copper weight or a few cents.
Q: What is the record price for a 1981-S Type 1 Penny?
A: High-grade specimens in PR 70 Deep Cameo condition have sold at major auctions for prices exceeding $1,000. Most recently, examples have settled in the $500 to $800 range depending on the specific eye appeal of the coin.
Q: Why is the “S” mint mark so messy on the Type 1?
A: The punch used to create the mint mark on the master die was used for a long period and had begun to deteriorate. The edges of the “S” became less sharp, leading to the “filled” look until the Mint replaced it later in the production year of 1981.
