The 2023 Penny Value Guide: From 1¢ to $1,399

The Extra V is the most significant numismatic discovery on any modern Lincoln cent in decades. On certain 2023 Philadelphia Mint cents, an additional letter "V" appears immediately to the right of the standard "VDB" initials of designer Victor David Brenner, located near the bottom of Lincoln's shoulder on the obverse. The cluster reads "VDBV" rather than the expected "VDB." Numismatic expert Mike Diamond, writing in Coin World's "Collectors Clearinghouse" column in March 2023, concluded the extra V was carved or punched into the hub — meaning the modification occurred at the die-making stage, not during striking.

The extra V is a fully formed, raised letter with clean edges. It is not a die chip, a scratch, or post-mint damage. Because the modification happened at the hub level, at least one working die was affected — and that die likely struck tens of thousands or more coins before retirement. NGC began certifying the variety in 2023 and listed it in NGC Variety Plus. By August 2023, NGC had graded 37 certified examples, with four tied at the top grade of MS68 RD.

Collector demand for the Extra V has been robust from the moment of discovery. Higher-grade examples trade at substantial premiums: NGC-certified MS68 RD pieces have sold for $780 (Stack's Bowers, November 2023), $1,114 (GreatCollections, July 2023), and $1,399 (eBay, July 2023). MS65 RD certified examples typically sell in the $100–$200 range, while raw uncirculated pieces sell for $30–$75 depending on eye appeal and color. PCGS has assigned this variety its own listing (PCGS #926405), and the auction record of $780 at MS68 RD is documented in PCGS CoinFacts.

A Doubled Die Obverse (DDO) error results from the die-making process itself — not from the striking of the coin. During hubbing, the working die receives the design impression from the master hub. If the hub is applied at slightly different angles on successive impressions, letters, numbers, and design elements pick up a doubled, offset shadow impression that is permanently transferred to every coin that die subsequently strikes.

On 2023 pennies, collectors have documented doubling on the inscriptions "IN GOD WE TRUST" and "LIBERTY," as well as on the date digits. The doubling appears as a distinct raised second image of the letters, offset from the primary impression in a consistent direction. A key diagnostic is that genuine doubled dies show doubling uniformly on all affected elements, whereas machine doubling (a worthless post-strike artifact) produces a shelf-like, flat smearing on the high points of just one or two elements.

Confirmed DDO examples on 2023 cents are relatively scarce — the error is genuinely uncommon and authentication by PCGS or NGC is essential. Many coins marketed as DDO are actually machine-doubled, which has no collector value. Authenticated 2023 DDO pennies with strong, visually apparent doubling have sold in the $50–$100 range, with the strongest examples potentially commanding more. Die state and the specific letters affected both influence market value significantly.

An off-center strike error occurs when a blank planchet is not properly positioned within the coining press before the dies descend to strike. The misaligned planchet receives the full impression of the dies, but the design is transferred off-center — part of the coin's surface remains blank while the struck design is compressed toward one side, creating a characteristic crescent-shaped blank area.

Off-center errors on 2023 pennies can range from barely noticeable (1–5% off center) to dramatically misaligned (50%+ off center). The most visually striking and valuable examples are those with 40–60% off-center misalignment while still retaining a fully readable date. The date is the key diagnostic: without a visible date, off-center cents lose much of their collector appeal and command lower prices regardless of the severity of the misalignment.

Value on 2023 off-center cents scales directly with the degree of misalignment and whether the date is fully visible. A modest 10–15% off-center example is worth $20 or more, while a dramatic 40–60% off-center piece with a complete date can command $100–$200. Examples exceeding 50% off-center are the most desirable among error specialists and represent a genuine striking anomaly rather than a die-production issue. Color (RD vs RB vs BN) still factors into pricing for off-center errors in uncirculated condition.

Die crack errors occur when the working die — subjected to thousands of tons of striking pressure over its operational life — develops fractures in the die steel. As cracks propagate through the die face, they transfer raised lines of metal onto each coin subsequently struck, creating a distinctive pattern that grows more pronounced as the die continues to deteriorate. Unlike damage inflicted after minting, die cracks appear as raised lines (not incuse cuts) on the coin's surface, since metal flows into the crack in the die during each strike.

The most collectible Lincoln cent die crack variety is the BIE error, unique to this series. A BIE crack develops between the letters "B" and "E" in the word "LIBERTY" on the obverse, just to the left of Lincoln's portrait. The crack mimics the appearance of an inserted "I" between those letters — creating what looks like "LIBIERTY." BIE errors are popular enough that many collectors pursue them specifically by date and mint, assembling type sets of BIE varieties. For 2023, BIE pennies are documented and worth $7–$15. Larger die cracks running from Lincoln's skull toward the rim (sometimes called "spiked head" varieties) command $50–$100 for prominent examples.

Die cracks are a natural result of high-volume mint production and are legal mint-produced varieties, not post-mint alterations. Early-die-state coins show no crack; late-die-state coins may show extensive cracking across the entire die face, with the most severe examples developing into "cuds" — large raised blobs at the rim where a section of the die broke away entirely. Cud errors on modern cents can sell for $50–$100 or more depending on size and location.

A broadstrike error happens when a penny planchet is struck by the dies outside the retaining collar — the cylindrical ring that normally constrains the metal during striking and forms the coin's edge. Without the collar's constraint, the metal flows freely outward in all directions under the extreme striking pressure, producing a coin that is measurably wider than the standard 19.05mm diameter and noticeably thinner at the rim, which may be weak, rounded, or nearly absent altogether. The coin's design elements spread proportionally with the expanding metal.

Broadstrike 2023 pennies are visually dramatic errors that are immediately apparent even without magnification. The coin appears "puffed" or flattened compared to normal cents, with the design details slightly spread. The rim — normally sharp and well-defined on a Lincoln Shield cent — will appear weak, rounded, or completely absent on a genuine broadstrike. Size measurement with calipers helps confirm: any 2023 cent measurably larger than 19.05–19.10mm in diameter is a candidate for broadstrike attribution.

Collector demand for broadstrike pennies is driven by the dramatic visual impact of the error and the relative difficulty of finding genuine examples in mixed pocket change. Values range from $50 for modest examples with a partially missing rim to $200 or more for the most dramatic broadstrikes showing a 5–10% size increase with a fully flat rim. Condition still matters: a broadstrike in uncirculated condition commands a premium over a worn example of the same severity. Third-party certification from PCGS or NGC is recommended for high-value examples to confirm authentic collar absence versus post-mint alteration.