As a seasoned US coin collector with decades of experience, I'm often asked about the value of common coins. One question that frequently comes up is, "How much is a 1967 penny worth?" The answer might surprise you. While most 1967 pennies are worth only their face value, some can be quite valuable. Let's dive deep into the world of these little copper coins and uncover their potential worth.
The History and Design of the 1967 Penny
The 1967 penny is part of the Lincoln Memorial cent series, which ran from 1959 to 2008. These coins feature:
- Obverse (Front): Abraham Lincoln's profile, designed by Victor D. Brenner in 1909
- Reverse (Back): The Lincoln Memorial, designed by Frank Gasparro
Key Specifications:
- Composition: 95% copper, 5% zinc
- Weight: 3.11 grams
- Diameter: 19 mm
Interestingly, 1967 was a unique year for penny production. Due to a nationwide coin shortage, the U.S. Mint removed mint marks from all coins, including pennies, to discourage hoarding. This means that all 1967 pennies, regardless of which mint produced them, lack a mint mark.
Factors Influencing the Value of a 1967 Penny
Several factors can affect the value of a 1967 penny:
- Condition: Uncirculated coins in pristine condition are worth more
- Color: Red coins (with original mint luster) are most desirable, followed by red-brown, then brown
- Special Mint Set (SMS) coins: These have a distinct satin finish and are more valuable
- Errors: Certain minting errors can significantly increase a coin's value
Standard 1967 Penny Values
For regular 1967 pennies, here's a detailed breakdown of potential values:
| Condition | Brown | Red-Brown | Red |
|---|---|---|---|
| Good (G-4) | $0.01 | – | – |
| Fine (F-12) | $0.01 | – | – |
| Extremely Fine (EF-40) | $0.02 | – | – |
| About Uncirculated (AU-50) | $0.05 | $0.10 | – |
| Uncirculated (MS-60) | $0.15 | $0.30 | $0.50 |
| Choice Uncirculated (MS-63) | $0.30 | $0.75 | $1.50 |
| Gem Uncirculated (MS-65) | $5.00 | $10.00 | $17.00 |
| Superb Gem Uncirculated (MS-67) | $50.00 | $100.00 | $200.00+ |
Note: MS stands for Mint State, referring to the coin's condition
Record Sales
- A red MS-67 1967 penny sold for $4,945 in a 2008 Heritage Auctions sale
- A brown MS-70 1967 penny (the highest grade possible) sold for $2,650 on eBay in 2021
Special Mint Set (SMS) 1967 Pennies
The SMS pennies from 1967 are more valuable due to their special finish and limited production. Here's a breakdown of their potential values:
| Grade | Value |
|---|---|
| MS-65 | $10 |
| MS-66 | $15 |
| MS-67 | $50 |
| MS-68 | $175 |
| MS-69 | $500+ |
Record Sales for SMS Pennies
- A red SP-68 CAM (Cameo) SMS penny sold for $5,581 in a 2014 Heritage Auctions sale
- A red SP-68 SMS penny sold for $978 in a 2011 auction
Rare 1967 Penny Errors
Error coins can be particularly valuable to collectors. Here are some errors to look out for in 1967 pennies:
- Doubled Die: $20 to $50 for significant doubling, potentially more for extreme cases
- Die Crack or Break: $5 to $100 depending on severity and location
- BIE Error: $5 to $15 (a vertical die crack between 'B' and 'E' in LIBERTY)
- Double/Triple Strike: Up to $900 or more, depending on the visibility of multiple strikes
- Off-Center Strike: $25 to $100 for minor off-center strikes, up to $500+ for severe cases
- Cap Dies: Around $25, but can be worth more if the cap is dramatic
How to Identify a Valuable 1967 Penny
To determine if your 1967 penny might be valuable:
- Check the condition: Look for coins with minimal wear and original luster
- Examine the color: Red coins are most desirable, followed by red-brown
- Look for the satin finish of SMS coins
- Use a 10x magnifying glass to spot potential errors
- Compare to high-resolution images of valuable specimens from reputable auction houses
Preserving Your 1967 Penny
If you believe you have a valuable 1967 penny:
- Handle it by the edges to avoid damaging the surface
- Store it in a non-PVC coin holder or flip
- Keep it in a cool, dry place away from direct sunlight and humidity
- Consider having it professionally graded by PCGS or NGC for high-value specimens
Where to Sell a Valuable 1967 Penny
If you have a potentially valuable 1967 penny, consider these options:
- Reputable coin dealers (check for American Numismatic Association membership)
- Online auction sites specializing in coins (e.g., Heritage Auctions, Great Collections)
- Coin shows and exhibitions
- Direct to collectors through numismatic forums (e.g., CoinTalk, Coin Community)
Always research current market values and get multiple opinions before selling. The PCGS CoinFacts and NGC Coin Explorer websites are excellent resources for up-to-date pricing information.
The Broader Context: 1967 in Numismatics
1967 was an interesting year for U.S. coinage. Besides the lack of mint marks, it was also:
- The last year of silver production for circulating coins
- A year of high mintage for pennies, with over 3 billion produced
- The second year of Special Mint Set production, replacing Proof sets temporarily
These factors make 1967 coins, including pennies, particularly interesting to collectors and historians alike.
Conclusion: The Hidden Potential of the 1967 Penny
While most 1967 pennies are worth only their face value, some can be surprisingly valuable. The key is knowing what to look for – pristine condition, original color, special finishes, and rare errors can all contribute to a coin's worth. Whether you're a seasoned collector or just curious about the change in your pocket, the 1967 penny serves as a reminder that even the most common coins can sometimes hold unexpected value.
Remember, coin collecting is not just about monetary value. It's a window into history, art, and the economic forces that shape our world. The 1967 penny, with its unique production history and potential for valuable errors, is a perfect example of how a seemingly ordinary coin can tell a fascinating story.
So, the next time you come across a 1967 penny, take a moment to appreciate its design, its history, and yes – its potential hidden value. Who knows? You might just be holding a small copper treasure in your hand.
