1. Condition: The condition of the penny is a crucial factor in determining its value. Coins that are well-preserved, free from significant wear, and have sharp details can be more valuable compared to those with scratches, significant wear, or other forms of damage.
2. Mint Mark: The 1917 Lincoln penny was minted in three different locations: Philadelphia (no mint mark), Denver (D mint mark), and San Francisco (S mint mark). The scarcity of each mint mark can impact the value of the coin. The rarest mint mark is generally the S mint mark, followed by the D mint mark, and then the Philadelphia mint mark.
3. Errors or Varieties: Some 1917 pennies have errors or varieties that make them more valuable to collectors. These can include things like die clashes, die cracks, doubled dies, or off-center strikes. The value of these coins depends on the rarity and significance of the error or variety.
Given the factors mentioned above, the value of a used 1917 penny can range anywhere from a few dollars to several hundred dollars or even more. It is recommended to consult with a reputable coin dealer or numismatic expert to obtain a more accurate estimate of its value based on its specific details.