2023, Lincoln Memorial Cent: Debunking the No-Existence Claim

The 2023 Lincoln Memorial Cent is one of the most searched terms in modern Lincoln cent collecting – and also one of the most misunderstood. Here is the truth: no 2023 Lincoln Memorial Cent exists as a standard U.S. Mint issue. The Memorial reverse ran from 1959 through 2008, and the current reverse design is the Union Shield, which has appeared on every Lincoln cent since 2010. That confusion, however, opens a genuinely interesting conversation about what the 2023 Lincoln cent actually is, why collectors are paying real money for certain examples, and how this fits into the broader Lincoln cent story that precious metals enthusiasts increasingly follow alongside their gold and silver stacks.

The 2023 Lincoln cent is a Union Shield issue struck in copper-plated zinc, minted in the billions across Philadelphia and Denver. At face value it is one cent. In gem grades with the right variety, it has sold for $200 or more. Understanding why requires a look at the full Lincoln cent series, the specific variety driving 2023 excitement, and the grading and pricing realities that separate a coin worth a penny from one worth a premium.

Why There Is No 2023 Lincoln Memorial Cent

The Lincoln Memorial reverse debuted on February 12, 1959, marking Abraham Lincoln’s 150th birthday. Frank Gasparro designed it, and it showed the Lincoln Memorial building in Washington, D.C. – with a tiny figure of Lincoln visible inside the structure. That made Lincoln the only person to appear twice on the same U.S. coin.

That design ran for nearly 50 years. Then in 2009, the U.S. Mint issued four special Bicentennial reverses to mark Lincoln’s 200th birthday. Each design represented a stage of Lincoln’s life. Starting in 2010, the Mint introduced the Union Shield reverse, which remains the standard design today.

The Shield features 13 vertical stripes representing the original states, a horizontal bar across the top reading “E PLURIBUS UNUM” on a scroll, and the inscription “ONE CENT.” It was chosen to symbolize national unity – a theme tied directly to Lincoln’s Civil War presidency.

So when someone searches for a 2023 Lincoln Memorial Cent, they are almost always encountering one of two situations: they found an old Memorial-era cent and want to know its value, or they are looking up modern Lincoln cents and the terminology is muddled. Either way, the 2023 cent they have in hand is a Shield reverse.

the 1980 Lincoln Memorial Cent and the 1991 Lincoln Memorial Cent are well-documented examples of the Memorial era – both offer solid starting points for understanding how that reverse design played out across different years and compositions.

The Full Lincoln Cent Reverse Timeline

Lincoln cents are the longest-running U.S. coin series, now past 115 years. Victor David Brenner’s portrait of Lincoln on the obverse has stayed essentially unchanged since 1909, when the coin launched to mark Lincoln’s 100th birthday. The reverse, however, has changed several times.

For collectors building a Lincoln cent type set, each of these reverses represents a distinct chapter. The Lincoln Wheat Penny history is especially deep, with dozens of key dates and varieties spanning nearly five decades.

What the 2023 Lincoln Cent Actually Is

Every 2023 Lincoln cent is a Union Shield issue. Two mints produced them: Philadelphia (no mint mark) and Denver (D mint mark). Mintage numbers were enormous – Philadelphia struck approximately 2.26 billion, Denver struck approximately 2.26 billion. That scale keeps most 2023 cents worth face value in circulated grades.

The composition is copper-plated zinc: a zinc core making up 97.5% of the coin’s weight, with a thin copper plating accounting for the remaining 2.5%. The coin weighs 2.5 grams and measures 19mm in diameter. This composition has been standard since 1982, when rising copper prices made the old 95% copper cent too expensive to produce.

With mintages that high, circulated and low-grade uncirculated examples are genuinely common. The interesting action happens in two places: top-tier gem grades and the Extra V variety.

The 2023 Extra V Variety: What Makes It Collectible

The standout discovery in 2023 Lincoln cents is the Extra V variety, found on Philadelphia issues. On the obverse of every Lincoln cent, near the bottom of Lincoln’s shoulder, are the initials V.D.B. – the mark of designer Victor David Brenner. On the Extra V variety, an additional “V” appears to the right of those initials, making the area read like “V.D.B.V.”

This was caused by a modified hub that produced dies with the extra letter. Because a single die can strike hundreds of thousands of coins, a meaningful number of Extra V cents entered circulation. The variety is not a one-in-a-million error – it is huntable. But finding one in gem uncirculated condition with full red luster is a different challenge entirely.

PCGS formally recognizes the variety and has assigned it its own CoinFacts entry. NGC has also covered it in collector news. Prior Lincoln cent years saw doubled die varieties and other hub anomalies, but a misplaced extra “V” had not appeared before in the series, making this a genuine first for the modern Shield era.

To find one, search through rolls of 2023 Philadelphia cents. Bank rolls from credit unions are a practical starting point. Cherrypicking raw rolls before the variety becomes widely known in mainstream channels is the classic collector strategy.

Grading and Pricing the 2023 Lincoln Cent

Raw, uncirculated 2023 Lincoln cents trade at face value to a dollar or two in most transactions. Graded examples tell a different story.

PCGS & NGC Coin Verification – Accurate Precious Metals Refineries

The “RD” designation matters. It stands for Red, meaning the coin retains full original copper-red luster. As zinc cents age, the surface oxidizes and the luster fades to RB (Red-Brown) or BN (Brown). Gem Red examples require careful handling and storage from the moment they leave mint packaging.

Population reports from PCGS and NGC track how many coins have been graded at each level. For the Extra V variety, the population in MS67RD and above is thin. That scarcity in high grades, combined with collector interest in a new variety, drives the premium – similar in principle to how silver error coins trade well above the metal’s spot price of about $83 per ounce when they carry a strong variety attribution.

Compare the math: a $200 Extra V cent represents roughly 0.04 ounces of gold at today’s price of about $4,876 per ounce. The numismatic premium here has nothing to do with metal content and everything to do with rarity within a population report.

How 2023 Cents Compare to Earlier Lincoln Memorial Issues

The Memorial-era cents (1959-2008) are the natural comparison point for anyone searching “2023 Lincoln Memorial Cent.” Those coins were struck in two different compositions depending on the year:

Pre-1982 cents were 95% copper, giving them minor melt interest when copper prices rise – though melting U.S. cents remains illegal under federal law. The 1982 Lincoln Penny is particularly notable because the Mint switched compositions mid-year, producing both copper and zinc cents with the same date. Identifying which you have requires a scale: copper 1982 cents weigh 3.1 grams; zinc examples weigh 2.5 grams.

Post-1982 Memorial cents, like the 2023 Shield cents, are zinc. They carry no meaningful melt value. Their collector appeal rests entirely on condition, mint mark, and variety.

Key Memorial-era dates worth knowing:

• 1960 Small Date: Philadelphia and Denver varieties with different numeral sizes on the date.
• 1969-S Doubled Die Obverse: One of the most famous Lincoln cent errors. Strong doubling on “LIBERTY” and “IN GOD WE TRUST.” Genuine examples are worth thousands.
• 1972 Doubled Die Obverse: Another major doubled die. Widely collected.
• 1995 Doubled Die Obverse: More accessible than earlier doubled dies, but still commands a solid premium in high grades.

None of these carry over to 2023, but they illustrate why variety hunting across the Lincoln cent series has staying power as a hobby. The valuable Lincoln pennies guide covers mint marks and key dates across the series in detail.

Practical Collecting Tips for the 2023 Lincoln Cent

Whether you are a precious metals stacker looking for a low-cost numismatic side project or a dedicated cent collector, the 2023 Lincoln cent offers an accessible entry point.

For selling graded Lincoln cent varieties, auction platforms like Heritage Auctions tend to reach the deepest pool of variety collectors. Local coin shops may offer convenience but rarely match auction results for attributed varieties.

The Precious Metals Connection: Why Stackers Notice Lincoln Cents

Gold and silver collectors often develop a parallel interest in numismatic coins – not because cents replace bullion, but because the variety-hunting mindset overlaps with the broader coin market. A silver eagle at spot plus a few dollars over is a straightforward bullion purchase. A 2023 Extra V cent in MS67RD is a different kind of asset: its value is almost entirely driven by scarcity within a grading population, not by metal content.

That said, the Lincoln cent series does touch precious metals history in one meaningful way. The 1982 composition shift happened because copper prices climbed high enough that the metal in a cent exceeded its face value. The same economic pressure that drives gold and silver prices upward periodically creates inflection points in base metal coinage – and those inflection points become collector milestones.

Today, with gold near $4,876 per ounce and silver around $83 per ounce, the economics of copper coinage are a footnote. But for collectors who follow metals markets closely, the history of the 1982 cent is a tangible reminder of how commodity prices shape the coins in everyday circulation.

Working with Accurate Precious Metals

Accurate Precious Metals has been operating out of Salem, Oregon for over 12 years, building a reputation as a specialized precious metals dealer – not a pawn shop – with more than 1,000 five-star customer reviews. The inventory spans gold, silver, platinum, and palladium in coin, bar, and bullion form, along with diamonds and jewelry.

For collectors who move between the numismatic and bullion worlds, Accurate Precious Metals is well-positioned to help on both sides. As an NGC Authorized Dealer, the team can assist with coin evaluation and grading submissions – relevant for anyone sitting on a 2023 Extra V candidate they want professionally attributed.

If you have older Lincoln Memorial-era cents, pre-1982 copper cents, or any other coins with potential precious metals content, Accurate Precious Metals buys across the board. Local customers in the Salem, Oregon area are welcome to visit in person for a direct assessment. Customers anywhere in the United States can use the convenient mail-in service – free insured shipping, professional evaluation, and fast payment.

Beyond coins, Accurate Precious Metals buys gold and silver in any form: bullion bars, jewelry, scrap, silverware, dental scrap, and luxury watches. The selling process is straightforward whether you walk in or ship from across the country.

For investors looking to put precious metals into a retirement account, Accurate Precious Metals also offers Gold and Silver IRA services – a resource worth exploring if you are building long-term holdings alongside a numismatic collection. Reach the team at (503) 400-5608 or visit AccuratePMR.com.

Frequently Asked Questions

Sources

1. NGC Coin – Face Value: 2023 Extra V Lincoln Cent
2. Littleton Coin – Lincoln Cent Series History
3. LincolnCents.net – Lincoln Cent Mintage Data
4. PCGS CoinFacts – 2023-D Lincoln Cent Shield RD
5. PCGS CoinFacts – 2023 Lincoln Cent Shield Extra V RD
6. CoinCollecting.com – Lincoln Memorial Reverse History