The San Francisco Mint struck special proof Lincoln cents for collectors in 1973.
These coins carry an S mint mark directly beneath the date on the front.
Proof coins are made with polished dies and specially prepared blanks to create sharp, reflective surfaces.
Most 1973-S cents look bright, but only a small portion display a heavy deep cameo contrast.
A deep cameo coin features thick white frosting on the raised portrait and lettering against dark, mirror-like fields.
This stark visual contrast makes top-quality 1973-S proof pennies highly prized by modern coin collectors.
A perfect example of this penny reached a stunning final price of $12,075.
Heritage Auctions handled the sale during an event in January 2004.
Professional coin graders certified the piece at the highest possible grade of PR-70 Deep Cameo.
A grade of PR-70 means the coin has zero post-production flaws, scratches, or spots under 5x magnification.
High-end registry set collectors often compete aggressively for top-grade modern coins.
That intense bidding drove this particular auction to its five-figure record price.
Standard proof cents from this era sell for modest amounts, but a certified flawless piece changes the market entirely.
The San Francisco Mint produced millions of proof sets in 1973.
Because so many were made, common 1973-S cents are neither rare nor expensive.
The true rarity comes down entirely to condition and surface quality.
During the early 1970s, mint dies lost their frosted finish quickly as they struck thousands of coins.
Only the first few coins struck from a fresh die pair received the heavy frosting needed for a Deep Cameo label.
Even among those frosted coins, microscopic contact marks or haze usually keep them below a perfect score.
Finding a 1973-S cent that combines true Deep Cameo contrast with a flawless PR-70 surface is exceptionally hard.
That extreme rarity at the top grade creates massive demand among specialized Lincoln cent enthusiasts.
Start by confirming the date says 1973 and look for the small S mint mark below the numbers.
You can use the CoinKnow app on your phone to scan the design and confirm the basics.
Next, examine the surfaces under direct lighting to check the contrast.
A true Deep Cameo coin shows heavy, milky-white frost on Abraham Lincoln's portrait, the lettering, and the Lincoln Memorial.
The flat background fields must look like clean, dark mirrors with no dull spots.
Inspect the entire coin with a 5x magnifying glass to check for tiny problems.
Look closely for copper spotting, cloudy film, hairline scratches, or small strike weaknesses.
Regular proof coins show shiny fields but lack strong frosting on the raised details.
If your coin shows any tiny marks under magnification, it will not achieve the perfect grade needed for a record price.
Only an unblemished coin sent to a major grading service can earn a certified PR-70 Deep Cameo designation.
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