2022 Lincoln Shield Cent Value Guide
Find out what your 2022 Lincoln Shield Cent is worth. Complete price guide by mint mark (No MM for Philadelphia, D, S), grade, and color designation (RD/RB/BN) with current 2026 market values.
Most 2022 pennies found in circulation are worth $0.01 — face value. Bank-roll uncirculated examples trade for $0.20–$1.00. In top certified grades, values climb significantly higher.
- Circulated (any mint):$0.01 face value
- BU / Bank Roll (MS63–MS65 RD, Philadelphia or Denver):$0.20–$1.00
- MS66 RD (Philadelphia or Denver):$10–$18
- MS67 RD (Philadelphia or Denver):$20–$35
- S-Mint Proof (PR69 DCAM):$5.00–$12.00
- S-Mint Proof (PR70 DCAM):$35–$50
Value is driven by grade and the RD (Red) color designation — even slight toning to Red-Brown sharply reduces premiums. Check your Denver cent for the 2022-D WDDR-001 doubled die variety, which can add $20–$200+ in value. For mint errors (off-centers, wrong planchets), see our 2022 Penny Errors Guide. See full value chart →
The 2022 Lincoln Shield Cent continues the Lincoln Shield series introduced in 2010, pairing Victor David Brenner's iconic Lincoln portrait — the longest-running design in U.S. Mint history — with Lyndall Bass's Union Shield reverse celebrating national unity. Struck in billions at Philadelphia, Denver, and San Francisco, the 2022 cent's numismatic market is defined by a sharp bifurcation: the vast majority of specimens hold only $0.01 face value, while a microscopic fraction of flawless, fully red survivors command meaningful premiums in top certified grades. This guide covers standard business strikes, the San Francisco proof issue, and documented die varieties. For mint errors, see our 2022 Penny Errors Guide.
2022 Lincoln Shield Cent — obverse featuring Lincoln's portrait (left) and reverse featuring the Union Shield with 'E PLURIBUS UNUM' inscribed on the horizontal bar (right).
2022 Penny Composition & Melt Value
The Copper-Plated Zinc Profile
The 2022 Lincoln Cent is a composite token. Its structural body is 99.2% zinc with a microscopically thin electroplated copper coating of approximately 20 microns (0.02 mm). This construction — in place since mid-1982 — gives the coin its traditional copper appearance while using far less copper than the pre-1982 solid copper cents, which weighed 3.11 grams versus the modern 2.50 grams. The copper plating serves primarily an aesthetic role; the coin is structurally a zinc disc.
Melt Value
With zinc trading at approximately $1.48 per pound and copper at approximately $5.94 per pound as of early 2026, the intrinsic metallic value of a 2022 penny fluctuates between approximately $0.007 and $0.009 — consistently below its $0.01 face value. Unlike pre-1982 solid copper cents (which carry a melt value of $0.02 or more), there is no financial incentive to hoard 2022 pennies for their metal content. The $0.01 face value is the hard floor; value is derived from government decree, not material wealth. It is also worth noting that the U.S. Mint's all-in manufacturing and distribution cost for each cent has exceeded $0.02 — meaning the government loses money on every penny it produces, a paradox that has fueled decades of debate about eliminating the denomination.
The Zinc Rot Threat
The thin copper plating represents the cent's greatest long-term vulnerability. If the plating is breached — by a contact mark from another coin in a mint bag, a storage scratch, or a microscopic manufacturing flaw — oxygen and moisture attack the reactive zinc core. The result is rapid corrosion: white oxidation (zinc oxide and zinc hydroxide), surface bubbling, and eventually blackened or powdery-white patches. High-grade collectors know this dynamic intimately: a pristine 2022 MS68 RD example is valuable not only because it was struck well, but because it has successfully survived the chemical vulnerabilities of its own metallurgy. Proper storage in Mylar flips or Air-Tite capsules with silica gel desiccants is essential. Never use soft PVC plastic flips — their plasticizers leach out over time and create a green, corrosive slime that permanently ruins copper surfaces.
The 'Silver' Proof Set Clarification
⚠️ The 2022-S Lincoln Cent in the Silver Proof Set Is NOT Silver
In 2022, the U.S. Mint released a Silver Proof Set in which only the dime, quarters, and half-dollar were struck in 99.9% silver. The 2022-S Lincoln Cent included in that set is standard copper-plated zinc — identical in composition to the cent in the regular clad proof set. There is no solid-silver 2022 penny. Sellers who list a 'silver proof set penny' are describing the set it came from, not the coin's metal content. Its value is identical to any other 2022-S proof cent.
2022 Penny Value Chart by Mint Mark & Grade
Values reflect the retail numismatic market as of early 2026, synthesized from PCGS, NGC, and realized auction data. All business-strike values assume the RD (Red) color designation. Brown (BN) or Red-Brown (RB) examples at any grade carry no meaningful premium over face value.
⚠️ The Grading Economics Trap: Read Before Submitting
Third-party grading fees (PCGS / NGC) run approximately $35–$50 per coin plus shipping for modern submissions. An MS66 RD cent valued at $10–$18 will not cover those costs — submitting it is a guaranteed loss. The break-even grade is approximately MS67 RD, and even then margins are thin. Only MS68 RD produces a clear profit. A random coin pulled from a bank roll has a statistical probability of grading MS68 of less than 1 in 1,000. Bulk dealer submissions at lower per-coin rates are the only viable economic model for most modern cents.
2022 (No Mint Mark) Lincoln Shield Cent — Philadelphia
Philadelphia business strikes carry no mint mark below the date. Billions were struck for general circulation; absolute scarcity does not exist at any grade below the extreme top of the scale. Philadelphia strikes can be comparatively more difficult to find flawless at the highest grades due to higher die deterioration from volume production, occasionally making top-tier Philadelphia coins scarcer than their Denver counterparts. Current population and pricing data are available on the PCGS CoinFacts page for the 2022-P Lincoln Shield Cent.
| Circulated | BU (MS63–MS65 RD) | MS66 RD | MS67 RD | Notes |
|---|---|---|---|---|
| $0.01 | $0.20–$1.00 | $10–$18 | $20–$35 | MS67+ RD is condition rarity; see trophy-level table below |
2022-D Lincoln Shield Cent — Denver
Denver Mint coins often display a sharper strike and better satin luster than their Philadelphia counterparts. In 2022, both mints produced billions of coins, making absolute scarcity non-existent at lower grades. Current population and pricing data are available on the PCGS CoinFacts page for the 2022-D Lincoln Shield Cent and the NGC Coin Explorer for the 2022-D.
| Circulated | BU (MS63–MS65 RD) | MS66 RD | MS67 RD | Notes |
|---|---|---|---|---|
| $0.01 | $0.20–$1.00 | $10–$18 | $20–$35 | MS68 RD is the practical ceiling; documented auction record $499 (see trophy table below) |
2022-S Lincoln Shield Cent — San Francisco (Proof)
The San Francisco Mint strikes proof cents on specially polished planchets using polished dies, undergoing multiple strikes to produce the deep mirror fields and frosted devices that characterize the Deep Cameo (DCAM) designation. The 2022-S is sold exclusively in U.S. Mint proof sets; it is never released into general circulation. A 2022-S found in pocket change is an impaired proof whose surfaces have been degraded, typically reducing its value to face value or a small curiosity premium. The 2022-S in the Silver Proof Set is identical in composition — standard copper-plated zinc — to the cent in the regular clad proof set. Full pricing and population data are available on the NGC Coin Explorer for the 2022-S Proof Lincoln Cent.
| Finish | Issued for Circulation? | PR69 DCAM | PR70 DCAM | Notes |
|---|---|---|---|---|
| Deep Cameo Proof | No (proof set only) | $5.00–$12.00 | $35–$50 | PR70 DCAM is the registry and investment standard; PR69 is considered common by proof collectors |
Trophy-Level Sales: MS68 RD and MS67+ RD
The registry market for top-certified 2022 cents has produced a handful of notable results. The practical grading ceiling currently sits at MS68 RD for business strikes — MS69 RD is statistically near-zero probability for zinc planchet coins that survive the minting and bagging process without contact marks or plating defects.
| Coin | Grade | Sale Price | Context | Source |
|---|---|---|---|---|
| 2022-D Lincoln Cent | MS68 RD | $499.00 | Condition rarity — the zinc planchet makes truly flawless MS68 surfaces extremely rare at this denomination | GreatCollections, 2022 |
| 2022-P Lincoln Cent | MS67+ RD | $2,128.00 | Outlier — early-release fever. This sale occurred in July 2022 when the coin held sole Top Pop status. As more examples were graded in subsequent months, the population increased and comparable prices likely dropped by 80–90%. This figure represents a historical moment, not a repeatable typical value. | PCGS Auction Prices, July 2022 |
Grading Tier Breakdown: What Each Level Means
To calibrate expectations, the following is the value hierarchy for 2022 business strikes by grade tier:
- Circulated (G4–AU58): The coin has lost its original mint bloom — dull, brown, or marred by fingerprints. Market value: $0.01.
- Mint State MS60–MS64 RD: Technically uncirculated but covered in bag marks from contact with other coins in Mint bags. These are the standard 'shiny pennies' found in bank rolls. Market value: $0.02–$0.05 in bulk — negative equity after grading fees.
- Gem MS65–MS66 RD: Excellent eye appeal, full red, minimal marks. Nice coins, but statistically abundant given billions minted. Market value: cost of grading (negative equity for the typical collector).
- Superb Gem MS67+ RD: The tipping point. The coin must be flawless under 5x magnification. This is where conditional rarity begins and registry competition drives exponential price jumps.
Values represent typical retail market prices as of early 2026. For the complete Lincoln Shield Cent series guide, see our Modern Lincoln Penny Value Guide.
Most Valuable 2022 Penny Varieties
Beyond grade, the 2022 Lincoln cent has documented die varieties attributed by John Wexler (WDDO / WDDR designations) and confirmed by Variety Vista. Unlike random mint errors — which are one-of-a-kind — die varieties are repeatable: thousands of coins were struck from the same affected die, making them a legitimate, searchable sub-series. This section covers verified non-error varieties only.
2022-D WDDR-001: Doubled Die Reverse (Findable)
Designation: Wexler Doubled Die Reverse 001 | Attribution:Wexler's Die Varieties / DoubledDie.com — 2022-D varieties, confirmed by Variety Vista VDDR-001. See also the full 2022-D doubled die reverse catalog on Variety Vista.
Diagnostic (how to find it): Examine the reverse under a 10x loupe. Focus on the lettering of 'UNITED STATES OF AMERICA' and 'E PLURIBUS UNUM.' On the WDDR-001, the corners of characters such as 'U', 'S', and 'O' appear notched — the serif tips are split into two distinct points, resembling a snake's tongue. True doubling adds to the total width of the letter and shows a rounded, raised secondary image. If the secondary image is flat and shelf-like and the letter appears narrower, you have machine doubling (see below), which has no collector premium.
Value impact:$20–$50+ in raw or MS64 condition; $200+ in MS66 with strong diagnostic visibility.
2022-P WDDO-001: Doubled Die Obverse (Findable)
Designation: Wexler Doubled Die Obverse 001 | Attribution: Wexler's Die Varieties; see Variety Vista's 2022-P doubled die listing.
Diagnostic: Examine the obverse under 10x magnification. Look for extra thickness and notching on the lettering of 'LIBERTY' and 'IN GOD WE TRUST.' As with the WDDR-001, the key indicator is a rounded raised secondary image with split serif corners — not a flat shelf. Visibility varies by specimen; stronger examples command higher premiums.
Value impact:$15–$40 raw, depending on the clarity and strength of the doubling.
Die Cracks and 'Spiked Heads'
Die cracks are raised metal ridges that form as the steel dies wear under the stress of striking billions of coins. When a crack runs through Lincoln's hair or portrait area, the result is called a 'spiked head' — a raised line projecting from the president's head. These are byproducts of high-volume manufacturing and are novelty collectibles rather than rare finds. Value impact: $1–$5 for interesting specimens.
Critical Warning: The Machine Doubling Trap
⚠️ The Vast Majority of 'Doubled' 2022 Pennies Are Machine Doubling — Worth $0.01
Machine Doubling (MD) occurs when a die is loose and chatters or slides on impact, shearing the metal flat. It produces a shelf-like, flat secondary image that actually detracts from the letter's total width. MD is a die malfunction, not a variety, and carries zero collector premium.
True Doubled Die (WDDR-001 / WDDO-001) produces a rounded, raised secondary image that adds to the total letter width. The serif corners are split into two distinct, pointed tips. This is a true hub doubling event during die manufacture — not a striking problem.
Quick test: If the doubling looks like a step cut from the coin surface, it is MD. If the letter corners show distinct forked tips with increased letter width, it is a candidate for WDDR-001 or WDDO-001. Compare to attribution images on DoubledDie.com before drawing conclusions.
2022 Penny Identification Guide
Use this four-step triage to determine exactly what you have before making any storage, grading, or selling decisions.
Step 1: Locate the Mint Mark
Look at the obverse (Lincoln side), directly below the date '2022.'
- No mint mark (blank field): Philadelphia Mint — business strike intended for general circulation. Philadelphia cents have carried no mint mark since 1909; a blank field is normal and does not indicate an error.
- D: Denver Mint — business strike for general circulation.
- S: San Francisco Mint — proof issue only. Sold exclusively in U.S. Mint proof sets; not released into circulation. An S-mint cent found in pocket change is an impaired proof. Its mirror surfaces have been degraded by circulation, typically reducing its value to face value or a very small curiosity premium.
Step 2: Assess the Color Designation (RD / RB / BN)
Lincoln cents and other copper-alloy coins use a three-tier color grading system that directly determines whether a coin has any collector value above face:
- RD (Red): 95% or more of the original brilliant mint luster remains intact. This is the only designation where meaningful premiums exist at MS65 and above. Protect RD candidates by handling only by the edges — skin oils permanently destroy red surfaces.
- RB (Red-Brown): Between 5% and 95% of the original red survives; the rest has toned brown. Collector premiums are minimal at any grade.
- BN (Brown): Less than 5% red survives. Worth face value regardless of technical Mint State grade.
Step 3: Proof vs. Business Strike
A proof coin (S-mint) displays deep mirror-flat fields contrasted against frosted, satiny devices — the portrait and lettering appear bright white against a black-glass background. This 'Deep Cameo' (DCAM) contrast is visible to the naked eye. Business strikes (no MM or D) display a cartwheel luster — a shifting, rolling light pattern that moves across the surfaces as the coin rotates under a light source. There are no mirror fields and no frost contrast on a business strike. If your S-mint coin lacks deep cameo contrast, it may be an impaired proof.
Step 4: Surface and Variety Tests
- Zinc Rot Test: Inspect for black spots, white powdery areas, or surface bubbling. These are plating defects caused by galvanic corrosion of the zinc core — they are not errors. Affected coins are worth face value only and will continue to degrade in storage.
- Magnet Test: A genuine 2022 penny should not stick to a magnet. Zinc is non-magnetic. If a coin claiming to be a 2022 penny sticks to a magnet, it is likely a plated novelty item or a magician's coin — not a mint error.
- Variety Scan: On the reverse, examine 'UNITED STATES OF AMERICA' under 10x magnification. Notched, forked serif corners with rounded raised doubling indicate a potential WDDR-001. A flat shelf with no increase in letter width is machine doubling — no premium. On the obverse, examine 'LIBERTY' and 'IN GOD WE TRUST' for potential WDDO-001 characteristics.
2022 Penny Value FAQs
What is a 2022 penny worth?
Most 2022 pennies are worth $0.01 — their face value. Circulated examples and most MS60–MS65 business strikes from bank rolls carry no meaningful premium once grading costs are factored in. Value begins to emerge at MS66 RD ($10–$18) and grows at MS67 RD ($20–$35). The confirmed top certified result for a business strike is $499.00 for a 2022-D in MS68 RD. A 2022-S proof in PR70 DCAM typically sells for $35–$50.
Is a 2022 penny rare?
No — 2022 Lincoln cents were struck in the billions by both the Philadelphia and Denver mints, and absolute scarcity does not exist. However, conditional rarity is real: a 2022 cent that has survived the minting and bagging process with zero contact marks, fully intact copper plating, and perfect RD surfaces — grading MS68 — is genuinely rare within the population of certified examples. The top of the grade scale is rare; the coin itself is not.
What makes a 2022 penny valuable above face value?
Three factors drive value: (1) Grade — only MS67 RD and above commands meaningful premiums for business strikes; (2) Color — the full Red (RD) designation is mandatory; even slight toning to Red-Brown significantly reduces premiums; and (3) Variety — the 2022-D WDDR-001 doubled die reverse adds $20–$200+ depending on grade and diagnostic visibility. Preservation from the moment the coin leaves the Mint bag is critical to achieving the color and grade combination that drives premium values.
Is my 2022 penny silver — especially one from the Silver Proof Set?
No. There is no silver 2022 Lincoln cent. The U.S. Mint's 2022 Silver Proof Set included a 2022-S cent, but the penny in that set is standard copper-plated zinc — identical in composition to the cent in the regular clad proof set. Only the dime, quarters, and half-dollar in the Silver Proof Set were struck in 99.9% silver. A seller describing a coin as a 'silver proof set penny' is noting where the coin came from, not what it is made of. Its value is the same as any other 2022-S proof cent.
Should I get my 2022 penny professionally graded by PCGS or NGC?
Only if you have strong reason to believe the coin is at least MS67 RD. Grading fees of approximately $35–$50 plus round-trip shipping mean you need at least MS67 RD (valued at $20–$35) to approach break-even — and even then margins are thin. MS66 RD at $10–$18 is a guaranteed loss. A random bank-roll coin has a statistical probability of less than 1 in 1,000 of grading MS68. The only economically viable model for most collectors is to cherry-pick exceptional roll finds or candidates with the WDDR-001 variety before considering submission.
What does 'RD' mean, and why does it matter so much for a penny?
RD stands for Red — the highest of three color designations applied to copper and copper-plated zinc coins. An RD coin retains 95% or more of its original brilliant copper-red mint luster. RB (Red-Brown) retains between 5% and 95% red. BN (Brown) retains less than 5% red. For the 2022 penny, only RD examples carry meaningful premiums at MS65 and above. Even a small amount of toning that pushes a coin into RB territory dramatically reduces its value. Never clean a coin — cleaning permanently destroys the RD designation and ruins any collector value.
What is the 2022-D WDDR-001, and how do I find it?
The WDDR-001 is a Wexler Doubled Die Reverse attributed by John Wexler's reference and confirmed by Variety Vista. It displays distinct notching — split, forked serif tips — on the corners of letters in 'UNITED STATES OF AMERICA' and 'E PLURIBUS UNUM' on the reverse. It is a true hub-doubled die, meaning thousands of coins were struck from the affected die. Examine Denver cents under a 10x loupe, focusing on characters like 'U', 'S', and 'O' in the reverse legend. Forked, rounded tips that add to letter width indicate the WDDR-001. Raw MS64 examples typically fetch $20–$50+; MS66 examples can exceed $200.
How do I tell true doubled-die doubling from machine doubling on a 2022 penny?
Examine the coin under a 10x loupe, focusing on the letters of 'UNITED STATES OF AMERICA' (reverse) or 'LIBERTY' and 'IN GOD WE TRUST' (obverse). Machine Doubling (MD) — which carries no premium — produces a flat, step-like shelf below the primary letter stroke; the secondary image detracts from total letter width and looks as if a layer was sliced away. True Doubled Die produces a rounded, raised secondary image; the serif corners are split into two distinct pointed tips and the total letter width is increased. If uncertain, compare to attribution photographs on DoubledDie.com before drawing any conclusions.
What is a 'spiked head' on a 2022 penny, and is it valuable?
A 'spiked head' describes a die crack — a raised metal ridge — running through Lincoln's hair, face, or portrait on the obverse. Die cracks form as steel dies wear and fracture under the stress of striking billions of coins. They produce a raised line on the coin surface (opposite of a gouge, which would be incuse). Spiked head die cracks are novelty collectibles with a minor premium of approximately $1–$5 for interesting or dramatic examples.
Why does the U.S. government lose money making 2022 pennies?
The intrinsic metal value of a 2022 penny is only approximately $0.007–$0.009. Yet the Mint's all-in cost to manufacture and distribute each cent — including metal procurement, labor, die production, overhead, and shipping — has exceeded $0.02 per coin in recent years. This negative seigniorage (where the cost of making money exceeds its face value) means the government loses money on every penny it produces. Periodic efforts to eliminate the cent have not succeeded as of 2026, and production continues.
Methodology & Sources
Values in this guide reflect typical retail market prices as of early 2026, synthesized from the following primary numismatic authorities:
- PCGS CoinFacts — 2022-P Lincoln Shield Cent (accessed 2026)
- PCGS CoinFacts — 2022-D Lincoln Shield Cent (accessed 2026)
- PCGS Auction Prices — 2022-P MS67+ RD realized sale (July 2022)
- NGC Coin Explorer — 2022-D Lincoln Shield Cent (accessed 2026)
- NGC Coin Explorer — 2022-S Proof Lincoln Cent (accessed 2026)
- GreatCollections — 2022-D MS68 RD realized price (2022)
- Wexler's Die Varieties / DoubledDie.com — 2022-D variety attribution (accessed 2026)
- Variety Vista — 2022-D VDDR-001 attribution (accessed 2026)
- Variety Vista — 2022-P doubled die listing (accessed 2026)
- United States Mint — Penny specifications (accessed 2026)
Prices represent typical retail 'Ask' values for certified coins in the stated grades. Actual transaction prices vary with dealer markup, auction buyer premiums, and market timing. This guide does not constitute investment or financial advice. Commodity spot prices sourced from industry data as of early 2026.
A note on images: To help illustrate coin diagnostics and rare varieties — especially complex errors that are difficult to describe in text alone — this guide uses AI-generated images. All written values, diagnostics, and variety attributions have been manually reviewed against the cited sources above. While our editorial team works to ensure every image is accurate and helpful, AI-generated illustrations may occasionally misrepresent fine details. If you spot any discrepancy between an image and its written description, please contact us or leave a comment below — we review all feedback and correct errors promptly. Numismatic knowledge is a community effort, and your input helps us build a more accurate resource for everyone.
