1960 Penny Value Guide and History

The U.S. Mint uses copper, zinc, nickel, and small amounts of silver and gold to produce pennies. The metal composition of each coin varies slightly depending on where it was made. Even pennies with small sizes, weights, and compositions are worth thousands of dollars.

The most valuable U.S. coin is the Lincoln cent, first minted in 1909 in honor of President Abraham Lincoln to celebrate his birthday. It has a face value of 1 cent but is worth slightly less than one cent because it contains copper rather than pure silver.

The rarest U.S. coin, the 1804 dollar, is valued at $7.68 million. The purpose of this blog is to provide you with an overview of what the 1960 penny is worth today. A brief history of the 1960 penny will also be discussed.

What Is A 1960 Penny Worth?

The value of a penny depends on how many were minted, the state of preservation, the grade, and the size of the date (in the case of the 1960 penny). A 1960 penny is worth $2 to $22 or more.

If you happen to come across an uncirculated 1960 penny, it will likely go for around $2.50 or more. The least desirable variety is a large date, valued at 20 cents or more depending on the condition.

How much is a 1960 penny worth? Large date vs. Small date

1960 Lincoln Cent Small Date Vs Large Date
1960 Lincoln Cent Small Date Vs Large Date (Source: Usacoinbook)

It will likely be worth more than one cent if you’ve got a 1960 penny with a large date. But if you’ve got one with a small date, you might find yourself paying ten times what you expected!

Small date penny has more value than large date variety. The price value of the small date 1960 penny is from $3.30(MS-63RB) to $7.88(MS-65RD) or more in Uncirculated / M.S. Condition. The price of a large date penny ranges between $0.22 to $0.33 or more in Uncirculated / M.S. Condition.

How do you determine the value of the 1960 penny?

The value of a penny depends on several factors, including year and condition, grade, size, or an old penny.

Grading Copper Coins

Grading may depend upon their color. It is possible to store copper coins for years without changing colors if stored correctly. Exposure to air for an extended time can cause copper coins to turn golden red.

Long-term storage often results in these lovely tones when coins are stored for extended periods in less than ideal conditions. These beautiful coins are extremely rare and valuable among coin collectors, and they’re often worth far more than their face value!

Grading System

MS60 RB – Some minor scratches or slight imperfections may be visible in the focal areas. It may look duller than usual. Its color is brownish-red.

MS-65RD – is highly lustrous and has an attractive appearance. The color is red. There may be faint contact marks, but they are hardly noticeable.

PR-65 RD – No flaws exist for this coin. Some minor imperfections may be visible. The color is red.

1960 Penny Average Prices and Values

Year and Mint
MS (uncirculated)
Pennies Minted
1960 P (Small Date)
$3.30
588,096,602
1960 P (Large Date)
$0.22
N/A
1960 D (Small Date)
$0.22
158,884,000
1960 D (Large Date)
$0.22
N/A
1960 D / D
$227
N/A

1. 1960 Lincoln Penny

Renowned U.S. Engraver Frank Gasparro designed the 1960 Lincoln Memorial Cent. It is composed of 95% copper, 5% Tin, and zinc and weighs 3.11 grams. This coin has been minted in Philadelphia with no mint mark.

The obverse depicts Abraham Lincoln bordered by the date and words “IN GOD WE TRUST.” The reverse shows the Lincoln Memorial along with the words “E.PLURIBUS.UNUM.” (meaning “Out of many, one”). All are engraved in a bold font.

1960 P (Small Date)

1960 P (Small Date)
1960 P (Small Date) (Source: Usacoinbook)

Features:

  • Mintage: 588,096,602
  • Location: Philadelphia (No Mint Mark)
  • Engraver: Frank Gasparro
  • Composition: 95% Copper – 5% Tin and Zinc

1960 P (Large Date)

1960 P (Large Date)
1960 P (Large Date) (Source: Usacoinbook)

Features:

  • Mintage: N/A
  • Location: Philadelphia (No Mint Mark)
  • Engraver: Frank Gasparro
  • Composition: 95% Copper – 5% Tin and Zinc

2. 1960 D Lincoln Penny

This 1960 penny was minted at the Denver Mint and contained Copper 5% – Tin and Zinc 95%. The 1960 penny commemorated the 100th anniversary of the Lincoln Memorial and was made from 95% copper, 5% tin, and zinc.

The obverse (front) of the Lincoln Memorial Cent features the image of President Lincoln, facing right. The words “LIBERTY,” “IN GOD WE TRUST,” and “1960” (Year in which minted) with mint mark D below date are printed along the rim of the coin.

The back of the penny is engraved with “The UNITED STATES OF AMERICA,” “ONE CENT,” and “E PLURIBUS UNUM.” The reverse (back) of the Lincoln Memorial Cent features the Lincoln Memorial Building as designed by Henry Bacon.

Designed by engraver Frank Gasparro, the statue shows Lincoln standing and sitting in the Lincoln Memorial. The words “E PLURIBUS UNUM” and “ONE DIME” are printed along the coin’s rim. The rim of the coin is inscribed with “The UNITED STATES OF AMERICA,” “IN GOD WE TRUST,” and “PENNY.”

1960 D Small Date

1960 D Small Date
1960 D Small Date (Source: Usacoinbook)

Features:

  • Mintage: 158,884,000
  • Location: Denver
  • Engraver: Frank Gasparro
  • Composition: 95% Copper – 5% Tin and Zinc

1960 D Large Date

1960 D Large Date
1960 D Large Date(Source: Usacoinbook)

Features:

  • Mintage: N/A
  • Location: Denver
  • Engraver: Frank Gasparro
  • Composition: 95% Copper – 5% Tin and Zinc

Difference Between a Large Date Penny and a Small Date Penny

You may have heard the term large date or small date used to describe the size of the date engraved on the 1960 penny. In 1960, the Mint created pennies that had two different designs. To differentiate the design types, keep in mind that the digits of the date have varying sizes.

The Mint created the small date pennies, with the digits in the date being smaller. Compared to small date pennies, large date pennies have longer digits in the date.

3. 1960 Lincoln Penny: Small Date Over Large Date

While rarity has little to do with value, the 1960 Lincoln pennies with the small over large date are worth significantly more than the normal cents struck in this year. You can notice D over D mintmark on the obverse.

Also, the small date that appears on top of the large date is noteworthy. This rare error was caused by a misaligned die, making this coin a must-have for Lincoln Cent collectors.

The motto “IN GOD WE TRUST” is stamped above Lincoln’s head, and “E PLURIBUS UNUM” (which means “one from many” in Latin) is engraved on the back of the penny.

1960-d-over-d-small-date-over-large-date-lincoln-cent
1960 D Over D Small Date Over Large Date Lincoln Cent 1960 D Large Date(Source: Usacoinbook)

Features:

  • Mintage: N/A
  • Location: Denver
  • Engraver: Frank Gasparro
  • Composition: 95% Copper – 5% Tin and Zinc

How Much Is a 1960 D Over D (Small Over Large) Penny Worth?

In Good condition, 1960 D/D penny worth about $8-$30. In uncirculated (Mint state), it is worth about $225-$555 or more.

Are Pennies with No Mint Mark Valuable?

The answer depends on which variety of penny you have. If you have a 1960 penny without an “S” mintmark, it means it is a Philadelphia-minted coin.

What is Condition or Grade?

It refers to the condition of the coin as graded by experts. The grade is affected by the level of wear and tear on the coin. The coin affected by wear and tear is circulated; otherwise, uncirculated.

What is Mint Marks?

Mint marks are usually found on the back of the penny and are used to see where the coin has been minted and if it has any special features. There are three mint marks found on U.S. pennies from 1960. Those are P (Philadelphia), D (Denver), and S (San Francisco).

How Much Is a 1960 No Mint Mark Penny?

The price of a 1960 no Mint mark penny depends on several factors such as its grade, condition, and the number of similar coins you can find for sale. The price differs from one seller to another. The price of a 1960 no Mint mark penny small date is $3 (MS-60RB grade) and $7 (MS-65RD).

*R.D. stands for Orange Red Color of Coin (uncirculated)

*R.B. stands for Red Brown color of Coin (Circulated)

Is a 1960 Penny Rare & How to Get It?

The most common type of 1960 penny is the small date. These pennies have no worth if found in circulated conditions. However, you can sell them at a premium value in uncirculated states.

You can buy a penny at your local bank or credit union. You might also find pennies at flea markets, antique stores, garage sales, and other similar venues.

Rare coins aren’t cheap; if you want one, avoid buying an imitation. You may need help from a qualified expert when dealing with rare coins. You might want to look at our resources section for some helpful tips.

History of the Lincoln Memorial Penny

1960 is a renowned penny on which Abraham Lincoln, America’s 16th president, is portrayed. To commemorate Lincoln’s 100th birthday, the United States Mint issued a penny in 1909.

The mint marks were placed on the penny to represent the different mints. The 1960 penny was minted at Denver and Philadelphia mints. It was one of the most popular commemorative coins in circulation for many years, becoming a collector’s item.

At the 50th anniversary of the Lincoln penny, U.S. Mint Frank Gasparro designed the reverse of Lincoln pennies to feature Lincoln Memorial to replace Lincoln Wheat Ears featured in 1909 coins. In addition, this event also marked the 150th birthday of Abraham Lincoln’s birth.

From 1959 to 1982, pennies consisted of 95 percent copper and 5 percent tin and zinc with 19 mm size and weighed 3.11 grams. A few years later, when the price of copper dictated another change in the composition of pennies, the Mint decided to add copper to them instead.

Mints produced approximately half the number of coins minted in 1982 from copper’s key material. The rest were made with copper plating over zinc. In 2009, the Mint introduced Lincoln Bicentennial circulating commemorative coins for the reverse.

Types of Commemorative Coins

The U.S. Mint has produced commemorative coins for many years. The minting of commemorative coins is done to commemorate significant events. The U.S. Mint has made over 1,000 different coin types in various sizes and designs.

The U.S. Mint produces three classes of circulating commemorative coins:

Circulating commemoratives

Circulating commemoratives are specially made to commemorate important events or people or to celebrate the nation’s heritage.

Uncirculated

Uncirculated coins feature no defects and are considered collector’s items. Some collectors even pay premiums for uncirculated coins because they believe minor wear on such pieces.

Regular issue

These coins are used in daily transactions. People use them to pay for services, such as food and rent.

Conclusion

To manufacture pennies, the U.S. Mint uses metals such as copper. Each coin contains a different metal alloy depending on its place of origin. It is possible to find thousands of dollars in pennies of different sizes, weights, and compositions.

Due to its copper content instead of pure silver, the coin is worth slightly less than its face value. In the United States, the 1804 dollar, one of the rarest coins, is valued at $7.68 million.

Pennies have varying values based on their number, condition, grade, and date. For example, 1960 pennies are worth between $2 and $22. Coins are sold to buyers through dealers or directly from the mints themselves. Some dealers specialize in high-end numismatics, while others focus on affordable collectibles.

Coin collecting is also a hobby that many people enjoy because it provides a unique way to learn about history and economics. A rare coin is a valuable asset. The 1960 penny is a great coin to collect.

The value for each 1960 penny varies depending on the wear and tear of the coin. Small dates are way more common than large dates, and they are worth more, but they are also harder to find. Some rare pennies from 1960 have a significantly higher value than the coin would be in less than perfect condition.

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