The United States Mint struck this special Lincoln cent in 1977.
It is part of the long-running Lincoln cent series that collectors still love.
Workers made these coins specifically for collector proof sets rather than everyday spending.
The "S" mint mark shows that the San Francisco Mint produced the piece.
Proof coins from this era were made using polished dies and specially treated planchets.
The "DCAM" label stands for Deep Cameo.
This means the coin has heavy frosting on the design details and mirror-like flat fields.
That strong visual contrast makes the portrait of Abraham Lincoln really stand out.
While millions of proof cents were made that year, true top-quality survivors are much harder to find.
The record-setting example of this coin brought a price listed as 7/13 at Heritage Auctions (HA).
Heritage Auctions handled the sale of this certified piece to a dedicated collector.
Professional grading services evaluated the coin and awarded it a flawless grade of 70.
A grade of 70 represents absolute perfection on the standard numismatic scale.
Under five times magnification, a 70 coin shows zero post-production flaws, scratches, or contact marks.
Achieving this level of preservation is nearly impossible for modern copper-based coins.
Even tiny specks of haze, spots, or microscopic handling marks will drop a coin to a lower grade.
That is why certified perfection commands such strong bids when it appears on the auction block.
A typical pocket change penny will not bring this kind of result.
The primary driver behind this coin's price is pure condition rarity.
San Francisco struck plenty of proof sets in 1977, so the date itself is not rare.
However, modern bronze coins are very chemically active and prone to spots.
Over the decades, environmental moisture and packaging materials ruined many proof cents.
Most surviving 1977-S cents grade out at Proof 68 or Proof 69.
The jump in value from a grade of 69 to a perfect 70 is massive in modern coin collecting.
Registry set collectors constantly compete to own the single finest known examples of every modern date.
This intense competition forces prices upward whenever a top-tier DCAM specimen hits the market.
The Deep Cameo contrast must also be complete and bold on both the front and back.
If the frosting fades on either side, the coin loses its premium DCAM designation.
You can start by looking for the small "S" mint mark below the date on the front of the coin.
Make sure you are looking at a genuine proof striking rather than a regular business strike.
Hold the coin under a good direct light source to inspect the surfaces.
Look for deep, reflective fields that shine like a dark glass mirror.
Check Abraham Lincoln's portrait and the Lincoln Memorial on the back to see if they look snowy white.
Use a 10x jeweler's loupe to inspect the edges and open fields for any tiny copper spots or fingerprints.
Even one minor hairline scratch means the coin cannot achieve the top grade.
If you are not sure what you have, you can use Coin Value Checker or CoinKnow on your phone to do a quick first pass.
Keep in mind that coins removed from original mint packaging must be handled only by the edges.
Only an official grading service can certify a coin at the perfect 70 level.
Want a number before you commit to more reading? See our breakdown of each coin valuation app we tried.