Is a Penny From 1960 Worth Anything?

Old coins often raise questions about their value beyond face worth. While most older pennies in circulation are not rare, certain characteristics can increase a coin’s market price. Understanding these features helps determine if an old coin, such as a 1960 penny, holds significant value.

Factors Determining a Coin’s Value

A coin’s condition, or grade, is a significant determinant of its value. Professional grading services assign a numerical grade from 1 to 70, with higher numbers indicating better preservation. Terms like “Good,” “Fine,” “Very Fine,” “Extremely Fine,” and “Uncirculated” describe the coin’s wear, luster, and overall appearance. Coins with minimal wear and original luster command higher prices.

Another important factor is the mint mark, a small letter indicating where the coin was produced. For Lincoln cents, Philadelphia Mint coins usually have no mint mark, while Denver-minted coins bear a “D.” Different mints produce varying quantities, influencing a coin’s rarity. Coins with lower mintage numbers or high collector interest tend to be more valuable due to rarity and demand.

Errors and varieties introduced during minting can create unique and highly sought-after coins. Errors are mistakes like doubled dies or off-center strikes, while varieties are intentional design changes that create distinct types for a given year. These anomalies can significantly elevate a coin’s appeal and value to collectors. A coin’s metal content, or melt value, can also contribute to its worth, though for common pennies, this is negligible.

Specifics of 1960 Pennies

Most 1960 Lincoln pennies in circulation are not worth much more than face value. Even common 1960 pennies in uncirculated condition generally fetch only a few dollars. 1960 pennies were minted in Philadelphia (no mint mark) and Denver (marked ‘D’). Neither mint mark alone makes a 1960 penny rare or valuable.

1960 pennies are notable for a distinct design variation: “Small Date” and “Large Date” varieties. This difference stemmed from a slight change in the master die during production. To distinguish them, observe the numbers “1960” closely. On the “Large Date” variety, the tail of the ‘6’ is notably longer and sweeps higher, and the ‘0’ appears more round.

In contrast, the “Small Date” variety features a shorter tail on the ‘6’, and the top of the ‘1’ aligns more evenly with the top of the ‘9’. The ‘0’ in the “Small Date” appears narrower or more oval-shaped. The 1960 Philadelphia “Small Date” penny is considered the rarer and more valuable, especially in higher grades.

A common 1960 Large Date penny in circulated condition is typically worth face value. A 1960 Philadelphia Small Date in uncirculated condition (MS-63) might be valued around $5 or more. Higher-grade examples, such as MS-65, can reach approximately $27. Exceptionally high grades like MS-67+ can be valued at $10,000 or more.

The 1960-D Small Date penny is generally less valuable than its Philadelphia counterpart, often only a few dollars in uncirculated condition. Other minting errors, such as doubled dies or off-center strikes, can occur in any year. These are rare for 1960 pennies and require expert verification.

Getting an Appraisal or Selling

If you believe you have a valuable 1960 penny, particularly a Small Date variety in excellent condition, seeking a professional appraisal is a prudent next step. Local coin dealers can provide an initial, informal assessment of your coin’s authenticity and value. Call ahead to inquire about their appraisal services. Coin shows offer opportunities to meet dealers and collectors who can evaluate your coin.

For coins of significant value, professional grading services like the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) offer certified authentication and grading. These services provide an objective assessment of your coin’s condition, which enhances buyer confidence and market value. Submitting a coin for grading involves an annual membership fee, ranging from $25 to $69, plus a per-coin grading fee ranging from $22 to $65, depending on the coin’s value and turnaround time. Additional costs for shipping and insurance apply.

Once your coin has been appraised or graded, several avenues exist for selling. You can sell directly to a coin dealer, a straightforward option. Online marketplaces like eBay allow you to list your coin, but this requires careful attention to photography, shipping, and buyer/seller protections. For rare or high-value coins, consider consigning to a reputable coin auction house. These typically involve higher commission rates and minimum consignment values. When handling any coin, always hold it by its edges to preserve its surface and prevent damage that could diminish its value.