If you’re a coin enthusiast, then you’re likely acquainted with the noteworthy 1968 Penny. The 1968 Penny holds a special place thanks to its unique attributes within the realm of numismatics.
Embark on a historical expedition with this article as we dive into the enigmatic story of the 1968 penny. We’ll navigate through the value references that collectors rely on, scrutinizing the factors that shape its worth and uncovering any notable variations and minting errors that could significantly impact its value.
Table of Contents
1968 Penny Value
How Much is a 1968 Penny Worth?
The value of a circulated 1968 penny is approximately $0.02, equivalent to its copper weight. However, uncirculated coins can range in value from $0.10 to $1, depending on their grade. The highest worth is found in pennies of PR-65RD grade, valued around $1.
The value of these coins depends on various factors like the technique of minting , degree of accuracy, purity, grade etc.
In the circulated condition, the value of the 1968 penny is equal to its weight in copper, which is around $0.02 in copper melt value.
Whereas if the coins are uncirculated, the value of these coins ranges between $0.10 to $1 per piece, depending on their grade.
1968 pennies MS-63RB grade with mint marks 1968 D and 1968 S have a value of approximately $0.15. For coins of MS-65RD grade, it is around $0.40. The pennies of PR-65RD grade have the highest worth of around $1.
1968 Penny Value Chart
| GRADE | RED(RD) | RED-BROWN(RB) | BROWN(B) |
|---|---|---|---|
| MS61 | $3 – $5 | $2 -$3 | – |
| MS62 | $5 – $8 | $3 – $5 | – |
| MS63 | $7 – $11 | $5 – $8 | $2 – $3 |
| MS64 | $13 – $ 21 | $7 – $11 | $3 – $5 |
| MS65 | $15 – $25 | $9 – $15 | $6 – $10 |
| MS66 | $38 – $63 | $23 – $38 | $17 – $28 |
| MS67 | 375 – $125 | $60 – $100 | $47 – $78 |
Note: The prices listed are approximate values and may vary depending on market conditions and specific coin characteristics.
What 1968 Pennies are Worth Money?
The 1968-S Proof Penny is a meticulously designed and crafted coin created with exceptional attention to detail and quality. These proof coins undergo a specialized minting process that includes slower striking and higher pressure, resulting in crisper details and more defined images compared to regular circulation coins.
The 1968-S proof penny, intended for collectors, possesses a reflective, mirror-like finish and typically holds a higher value ranging from $1 to $5, depending on its condition.
Another intriguing variation is the 1968-D Penny with a Doubled Die Obverse. This error coin exhibits a distinct doubling of the design elements on its obverse side, making it highly sought after by collectors. The value of this error penny can range from $50 to several hundred dollars, depending on its condition and the extent of the doubling.
The 1968 Penny – History, Composition, and Design
The 1968 Penny History
The history of the 1968 penny began in 1909 when Victor David Brenner designed it. He designed the coin to celebrate Lincoln’s 100th birth anniversary in 1909. The coin popularly came to be known as ‘Lincoln Penny’.
Later Frank Gasparro also contributed to the coin’s design to celebrate the 50th anniversary of the Lincoln Penny in 1959. From 1968 onwards, the US government started minting these coins with mint marks, giving them the iconic name “1968 Lincoln Memorial Penny.”
The 1968 Penny Composition
The Lincoln Penny or Lincoln Cent comprises 95% copper and 5% tin/zinc, similar to most coins minted by the US government before 1982. These pennies had a familiar reddish-brown appearance.
The diameter of the coin is around 19 millimeters (0.75 inches), and the thickness is around 1.52 mm (0.0598 inches). It was minted during a time when copper prices were increasing, leading to a transition towards copper-plated zinc pennies in subsequent years.
The 1968 Penny Design
The Reverse Side
Frank Gasparro designed the reverse side of the Lincoln Penny. On the upper part of the coin, the mottos “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” are inscribed. Towards the bottom back, right behind the Lincoln Memorial, the words “ONE CENT” are printed. The middle of the coin showcases the stunning memorial hall with its 12 pillars and a captivating staircase.
The Obverse Side
The obverse side of the coin features the image of Lincoln, accompanied by the inscription “IN GOD WE TRUST.” Below the image, the year “1968” is displayed, along with the mint symbol D, S, or P, representing Denver, San Francisco, and Philadelphia, respectively. On the opposite side of Lincoln’s image, the word “LIBERTY” is boldly engraved.
1968 Penny Error List
Minting errors can make any penny’s value rise significantly. These errors are caused due to some faults while minting. Coins with errors are rare and fetch more money than regular no-error coins.
Here is the list of errors and the value of the coins.
1968-D Penny with Doubled Die Obverse
This error results in doubling of the design elements on the obverse side and can be worth anywhere from $50 to several hundred dollars, depending on its condition.
1968-S Penny Punched Mint Mark Error
It was caused by punching the S mark twice. The pennies with such errors can fetch $10- $20 easily.
1968-D Penny with Floating Roof
Such coins have an error in which the roof of Lincoln Hall does not touch the pillars and seems floating. You can easily get $5 – $10 with these coins.
Die Cracks on Observe
Coins with visible cracks or cuds on their surfaces due to issues with the dies during the minting process can be sold at a higher value of around $5- $15.
The 1968 Penny FAQs
Q: Why are 1968 pennies worth more than 1967 ones?
Coins from 1968 exhibit more errors compared to those from 1967. Consequently, even with their similar appearance, 1968 pennies often hold a higher value than their 1967 counterparts.
Q: How much is a 1968 D penny worth today?
The value of a penny minted at Denver Mint can range from $0.01 to $0.05, depending on the grade and quality. If you have a penny with an error, you can even get $5 – $10 in the market.
Q: Is there a rare 1968 D penny?
Pennies from the Denver Mint are generally not very rare, but if there is a penny with an error, it becomes rare. For example, the 1968 D penny with a doubled die obverse is a notable error that can increase its worth significantly.
Q: Is there a 1968 silver penny?
No, the pennies of 1968 were majorly composed of copper coating over a zinc core, which gave it the iconic reddish-brown appearance.
Q: How do I know if my 1968 penny is worth money?
The value of your penny depends on several factors like grade, quality, circulated/uncirculated state, and error/no error. You can consult any numismatics expert to get an exact idea about your 1968 penny.
Conclusion
In conclusion, the 1968 penny holds a special place in numismatic history. Its value ranges from its copper weight in circulated conditions to higher prices for uncirculated coins, depending on their grade. Collectors are particularly interested in the 1968-S proof penny with its mirror-like finish and the 1968-D penny with a doubled die obverse, both of which can command higher prices.
