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What 1960s Pennies Are Worth Money: A Collector’s Deep Dive

The simple answer is that most 1960s pennies you find in your spare change are worth face value: one cent. However, certain rare errors, varieties, and high-grade examples can fetch significantly more. The key lies in understanding what to look for – identifying specific mint errors, recognizing desirable varieties, and assessing the coin’s condition. Let’s embark on a journey to uncover the hidden treasures lurking within those seemingly ordinary copper coins!

Identifying Valuable 1960s Pennies

The value of a 1960s penny hinges on several critical factors:

Mint Mark and Year: The mint mark (D for Denver, S for San Francisco, or no mark for Philadelphia) and the year of issue are the first clues. Some years and mints produced fewer pennies than others, making them scarcer.
Mint Errors: These are deviations from the intended design or manufacturing process. Double dies, off-center strikes, broadstruck coins (missing the collar), and planchet errors can dramatically increase a penny’s value.
Varieties: These are subtle but intentional differences in the design of the die, such as doubled die obverse (DDO) or doubled die reverse (DDR).
Condition (Grade): A penny in uncirculated condition (MS – Mint State), meaning it has never been used in circulation and retains its original luster, will always be more valuable than a worn coin. Grading scales range from Poor (PR) to Mint State (MS70), with higher numbers indicating better condition.
Copper Composition: All 1960s pennies are 95% copper and 5% zinc. While not directly affecting base metal value, the coin’s condition impacts the overall worth.

Key Years and Mint Marks to Watch For

While no 1960s penny is inherently rare simply by virtue of its year, certain combinations of year, mint mark, and condition deserve extra scrutiny:

1960-D Small Date and Large Date Varieties: The 1960-D Lincoln cent is known for both a Small Date and a Large Date variety. The Small Date is generally considered more valuable, especially in higher grades. Examine the date closely; the numbers in the Small Date are visibly smaller and closer together.
1969-S Doubled Die Obverse (DDO): The 1969-S Lincoln cent is famous for its Doubled Die Obverse error. Look for clear doubling in the inscriptions “LIBERTY” and “IN GOD WE TRUST.” Genuine examples can command substantial prices, especially if authenticated by a reputable grading service like PCGS or NGC. This is one of the most sought-after errors in Lincoln cent history.
1969-D DDR: While not as valuable as the 1969-S DDO, this Doubled Die Reverse is still worth looking for.
High-Grade Examples: Any 1960s penny in exceptionally high grade (MS67 or higher) is worth more than its face value, even if it doesn’t have a specific error or variety. The luster and eye appeal of a pristine coin are highly valued by collectors.

Identifying and Understanding Mint Errors

Mint errors are fascinating and can transform an otherwise common penny into a valuable collectible. Here are some common types:

Doubled Die: This occurs when the die used to strike the coin is improperly made, resulting in a doubling of the design elements. The 1969-S DDO is a prime example, but other years might have minor doubled die varieties.
Off-Center Strike: The coin is struck off-center, resulting in a portion of the design missing. The more off-center the strike, the more valuable it can be, especially if it shows design elements not fully struck.
Broadstrike: The coin is struck without the collar, resulting in a flattened and widened appearance.
Planchet Errors: These involve issues with the metal blank (planchet) before it is struck. Examples include planchet cracks, laminations (peeling of the metal), and wrong metal planchets (rare and highly valuable).

The Importance of Grading and Authentication

To accurately determine the value of a potentially valuable 1960s penny, it’s crucial to have it graded and authenticated by a reputable grading service like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation). These services will assess the coin’s authenticity, grade its condition, and encapsulate it in a tamper-evident holder, providing assurance to both buyers and sellers. Self-grading can be subjective and often inaccurate, so professional grading is recommended for high-value coins.

FAQs About 1960s Pennies

1. Are all 1964 pennies made of silver?

No. While 1943 pennies were made of steel to conserve copper during World War II, 1964 pennies were made of the standard 95% copper, 5% zinc alloy.

2. How can I tell if my 1960-D penny is a Small Date or Large Date?

The 1960-D Small Date has noticeably smaller and closer digits compared to the Large Date. Use a magnifying glass for a closer look. The “6” and “0” are particularly revealing. The Small Date’s “6” curves downward more sharply.

3. What is the best way to store my valuable 1960s pennies?

Store valuable pennies in acid-free holders or albums designed for coin storage. Avoid PVC-based materials, as they can damage the coin over time. Keep them in a cool, dry place away from direct sunlight.

4. Is it worth getting a common 1960s penny graded?

Generally, no. The cost of grading (typically $20-$50 per coin) outweighs the potential value increase for common-date, circulated pennies. Grading is primarily worthwhile for coins with significant errors, varieties, or those in exceptionally high grade.

5. What does “MS” mean when describing a penny’s grade?

“MS” stands for “Mint State,” indicating that the coin has never been circulated and retains its original luster. MS grades range from MS60 to MS70, with MS70 being the highest possible grade.

6. How can I learn more about identifying coin errors and varieties?

Numerous resources are available, including coin collecting books, online forums, and websites like Variety Vista and CONECA (Combined Organizations of Numismatic Error Collectors of America). Joining a local coin club is also a great way to learn from experienced collectors.

7. What is the approximate value of a 1969-S DDO penny in good condition?

A 1969-S DDO Lincoln cent in good condition (let’s say, a circulated grade like Fine or Very Fine) can fetch several hundred dollars, depending on the severity of the doubling and the overall eye appeal. Higher grades can reach thousands.

8. What if I find a 1960s penny that looks “shiny” or polished?

Avoid cleaning coins, as it can damage the surface and reduce their value. A cleaned coin is generally worth less than an original, uncleaned coin in the same condition. Professional conservation is sometimes an option for particularly valuable coins, but it should be done by experts.

9. Are there any 1960s pennies with silver content?

No. All 1960s pennies were made of the standard copper-zinc alloy. The only Lincoln pennies containing silver were those accidentally struck on silver dime planchets (very rare and valuable).

10. Where is the mint mark located on 1960s pennies?

The mint mark (D or S) is located on the obverse (front) of the coin, below the date. Pennies struck in Philadelphia do not have a mint mark.

11. Should I clean my pennies before taking them to a coin dealer?

Absolutely not! Cleaning coins, even gently, can often damage the surface and reduce their value. Coin dealers prefer to see coins in their original, uncleaned condition.

12. What factors determine the price a coin dealer will pay for my 1960s penny?

A coin dealer will consider the year, mint mark, presence of errors or varieties, condition (grade), market demand, and the overall eye appeal of the coin. They will also factor in their profit margin and overhead costs. Getting multiple offers from different dealers is always a good idea.

By understanding these factors and diligently examining your 1960s pennies, you might just uncover a hidden treasure worth far more than a single cent! Happy hunting!