Have you ever wondered if that old penny at the bottom of your change jar might be worth more than just one cent? When it comes to the 1979 penny, you might be surprised to learn that some of these coins can hold significant value beyond their face value. As a seasoned US coin collecting expert, I'm here to guide you through the fascinating world of the 1979 penny and help you uncover its potential worth.
A Brief History of the 1979 Penny
The 1979 penny is part of the Lincoln Memorial series, which was minted from 1959 to 2008. This design, featuring Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse, was created to commemorate the 150th anniversary of Lincoln's birth. The year 1979 is particularly interesting for several reasons:
- It fell during a period of rising copper prices, which would later lead to changes in penny composition
- It coincided with the release of the Susan B. Anthony dollar, marking a significant year in US coinage
- It preceded the "copper crisis" of the early 1980s, which saw many people hoarding pennies for their metal content
These factors have contributed to increased interest in coin collecting and the preservation of copper pennies from this era.
The Basic Value of a 1979 Penny
For most 1979 pennies in circulation, the value remains at one cent. However, uncirculated coins or those with specific characteristics can be worth more. Here's a basic breakdown:
- Circulated 1979 penny: $0.01
- Uncirculated 1979 penny: $0.20 to $2
- Proof 1979 penny: $1 to $5
But don't stop there – some 1979 pennies can be worth much more due to various factors we'll explore.
Factors That Increase a 1979 Penny's Value
Several factors can significantly boost the value of a 1979 penny:
- Mint mark: Pennies from different mints can vary in value
- Condition: The better preserved, the more valuable
- Errors: Mistakes in minting can make a coin rare and valuable
- Grading: Professional grading can authenticate a coin's quality and increase its value
Let's delve deeper into each of these factors.
1979 Penny Value by Mint Mark
The U.S. Mint produced pennies at three locations in 1979:
- Philadelphia (no mint mark)
- Denver (D mint mark)
- San Francisco (S mint mark, proof coins only)
Here's a detailed breakdown of values based on mint mark and condition:
| Mint Mark | Circulated | Uncirculated (MS-60) | Uncirculated (MS-65) | Proof (PR-65) |
|---|---|---|---|---|
| No mark | $0.01 | $0.15 to $0.30 | $0.50 to $2 | N/A |
| D | $0.01 | $0.15 to $0.30 | $0.50 to $2 | N/A |
| S | N/A | N/A | N/A | $1 to $5 |
It's worth noting that the Philadelphia and Denver mints produced over 6 billion pennies each in 1979, while the San Francisco mint produced just over 3.6 million proof coins.
The Impact of Condition on 1979 Penny Value
Coin condition is crucial in determining value. The Sheldon Scale, used by numismatists, grades coins from 1 (Poor) to 70 (Perfect Uncirculated). For 1979 pennies, here's a more detailed guide:
- Good (G-4): Basic details visible – $0.01
- Very Good (VG-8): More details, wear evident – $0.01
- Fine (F-12): All major features clear, some wear – $0.01
- Very Fine (VF-20): Most details sharp, some wear on high points – $0.02 to $0.05
- Extremely Fine (EF-40): Sharp details, slight wear on high points – $0.05 to $0.10
- About Uncirculated (AU-50 to AU-58): Slight trace of wear, some luster – $0.10 to $0.20
- Uncirculated (MS-60 to MS-70): No wear, original luster, may have contact marks – $0.20 to $2+
- Proof (PR-60 to PR-70): Special finish, mirror-like surface – $1 to $5+
Rare and Valuable 1979 Penny Errors
Errors can make a 1979 penny much more valuable. Some to look out for include:
- Double Die Obverse (DDO): Shows doubling in the lettering or design on the front of the coin. A significant DDO can increase value to $50-$100 or more.
- Double Die Reverse (DDR): Similar to DDO, but on the back of the coin. Less common in 1979 pennies but can be valuable if found.
- Off-Center Strike: Part of the design is missing due to misalignment. Value depends on the degree of off-center and visibility of the date. A 50% off-center strike with the full date visible could be worth $50-$100.
- Repunched Mint Mark: The mint mark appears to be struck twice. Can add $5-$20 to the coin's value.
- BIE Error: A die crack appears between the 'B' and 'E' of LIBERTY, resembling an I. This can add $5-$15 to the coin's value.
In 2019, a 1979-S proof penny with a Type 2 Clear S mint mark in PR-69 condition sold for $1,955 at auction, demonstrating the potential value of high-grade error coins.
The Role of Professional Grading
Getting a 1979 penny professionally graded can significantly increase its value, especially for high-grade coins. The top grading services are:
- Professional Coin Grading Service (PCGS)
- Numismatic Guaranty Corporation (NGC)
These services authenticate the coin and assign a grade based on its condition. A 1979 penny graded MS-67 (Mint State 67) by PCGS sold for $1,500 in 2019, while a PR-70 Deep Cameo proof coin can sell for over $1,000.
How to Identify a Valuable 1979 Penny
To spot a potentially valuable 1979 penny:
- Check the mint mark (or lack thereof)
- Examine the overall condition using a magnifying glass
- Look for any obvious errors or abnormalities
- Check for subtle doubling, especially in the lettering and date
- Assess the coin's luster and color – original red coins are more valuable than brown ones
Where to Sell Your Valuable 1979 Penny
If you believe you have a valuable 1979 penny, consider these options:
- Online marketplaces like eBay or Etsy
- Local coin shops (check the American Numismatic Association dealer directory)
- Coin shows and conventions
- Online coin-specific auction sites like Heritage Auctions or Great Collections
Always research current market values and consider getting valuable coins graded before selling. The Red Book (A Guide Book of United States Coins) is an excellent resource for current coin values.
Caring for Your 1979 Pennies
To maintain the value of your 1979 pennies:
- Handle coins by the edges to avoid leaving fingerprints
- Store in non-PVC holders or albums to prevent chemical damage
- Keep away from moisture and extreme temperatures
- Never clean your coins – it can reduce their value significantly
The Future Value of 1979 Pennies
While most 1979 pennies won't see significant value increases, certain factors could impact future worth:
- Increasing copper prices (each 1979 penny contains about 3.11 grams of copper)
- Growing interest in vintage coins among younger collectors
- Potential discontinuation of penny production, which could increase interest in older pennies
Conclusion: Is Your 1979 Penny a Hidden Treasure?
While most 1979 pennies are worth their face value, some can be surprisingly valuable. By understanding what makes a 1979 penny valuable – mint marks, condition, errors, and professional grading – you can determine if you're holding onto a common coin or a numismatic treasure.
Remember, the joy of coin collecting isn't just about monetary value. It's about connecting with history, appreciating craftsmanship, and maybe, just maybe, finding that rare gem hiding in plain sight. So, the next time you come across a 1979 penny, take a closer look – you might be holding a small piece of numismatic history in your hands!
As a final note, always handle your coins with care and consider seeking the advice of a professional numismatist if you believe you've found something truly special. Happy collecting!
