Introduction: The Humble Penny's Hidden Potential
At first glance, a 1959 penny might seem like just another piece of pocket change. However, to the discerning eye of a coin collector, this small copper disc holds the potential for significant value and historical importance. As we delve into the world of numismatics, we'll explore why the 1959 penny stands out and what factors contribute to its worth in today's collectible market.
Historical Significance of the 1959 Penny
Commemorating Lincoln's 150th Birthday
The year 1959 marked a pivotal moment in U.S. coinage history. It was the 150th anniversary of Abraham Lincoln's birth, and the U.S. Mint chose to commemorate this milestone in a lasting way. This decision led to a significant change in the penny's design, making 1959 a transitional year for this ubiquitous coin.
The Birth of the Lincoln Memorial Reverse
Frank Gasparro, then the Assistant Engraver at the U.S. Mint, was tasked with creating a new reverse design for the penny. His creation, featuring a detailed depiction of the Lincoln Memorial, would grace the reverse of the penny for the next five decades. This change marked the end of the "Wheat Ears" design that had been in use since 1909.
Key Features of the 1959 Penny
Obverse Design
- Portrait: The familiar right-facing profile of Abraham Lincoln, designed by Victor David Brenner in 1909.
- Inscriptions: "IN GOD WE TRUST" above Lincoln's head, "LIBERTY" to the left, and the date (1959) to the right.
- Designer's Initials: Look for the small "VDB" at the bottom edge of Lincoln's shoulder.
Reverse Design
- Central Image: A detailed representation of the Lincoln Memorial.
- Inscriptions: "UNITED STATES OF AMERICA" and "E PLURIBUS UNUM" at the top, "ONE CENT" at the bottom.
- Hidden Detail: A tiny image of the Lincoln statue can be seen between the central columns of the Memorial.
Physical Characteristics
- Composition: 95% copper, 5% zinc
- Diameter: 19.05 millimeters
- Weight: 3.11 grams
- Edge: Plain
Factors Affecting a 1959 Penny's Value
Mint Mark
- No Mint Mark: Produced in Philadelphia
- "D" Mint Mark: Produced in Denver (located below the date on the obverse)
Condition (Grading Scale)
The coin's grade significantly impacts its value. Here's a brief overview of the grading scale:
- Poor (P-1) to Good (G-4): Heavy wear, major details obscured
- Very Good (VG-8) to Fine (F-12): Moderate wear, main features visible
- Very Fine (VF-20) to Extremely Fine (EF-40): Light wear, all details clear
- About Uncirculated (AU-50 to AU-58): Minimal wear, some luster remaining
- Mint State (MS-60 to MS-70): No wear, ranging from many marks (MS-60) to perfect (MS-70)
Color
Lincoln cents are classified into three color categories:
- Red (RD): Most valuable, retaining at least 95% of original copper color
- Red-Brown (RB): Mix of red and brown tones
- Brown (BN): Least valuable, fully toned to brown
Mintage Numbers
- Philadelphia: 609,715,000
- Denver: 1,279,760,000
1959 Penny Value Guide
1959 No Mint Mark (Philadelphia)
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| Good to Very Fine | $0.01 | $0.01 | $0.01 |
| EF to AU | $0.05 | $0.10 | $0.25 |
| MS-63 | $1 | $3 | $6 |
| MS-65 | $5 | $10 | $18 |
| MS-67 | $100 | $300 | $600 |
| MS-67+ | $500 | $1,500 | $3,000 |
1959-D (Denver)
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| Good to Very Fine | $0.01 | $0.01 | $0.01 |
| EF to AU | $0.05 | $0.10 | $0.20 |
| MS-63 | $1 | $2 | $4 |
| MS-65 | $5 | $10 | $18 |
| MS-67 | $75 | $150 | $275 |
| MS-68 | $1,000 | $4,000 | $9,000 |
1959 Proof Pennies
| Grade | Red (RD) | Cameo | Deep Cameo |
|---|---|---|---|
| PR-60 | $5 | $10 | $20 |
| PR-65 | $15 | $30 | $60 |
| PR-69 | $450 | $2,000 | $21,500 |
Note: Values are approximate and can fluctuate based on market conditions.
Rare 1959 Penny Errors
1959-D Mule Penny
A highly controversial error where a 1959 Denver penny was allegedly struck with the old wheat ears reverse. If genuine, it could be worth over $30,000. However, its authenticity remains disputed among experts in the numismatic community.
1959 Double Die Obverse
Several varieties exist, with the most valuable being the FS-101:
| Grade | Value |
|---|---|
| MS-60 | $18 |
| MS-63 | $50 |
| MS-65 | $300 |
| MS-66 | $850 |
Other Errors
- Off-center strikes: Depending on severity, can range from $5 to $100+
- Repunched mint marks: $5 to $50, depending on prominence
- Die cracks and cuds: $5 to $100+, based on size and location
How to Identify a Valuable 1959 Penny
- Check the color: Red pennies are most desirable and valuable.
- Examine the condition: Look for minimal wear and strong details, especially on Lincoln's hair and the Memorial columns.
- Look for errors: Use a magnifying glass to check for doubling on "LIBERTY" and the date.
- Verify the mint mark: No mint mark (Philadelphia) or "D" (Denver) below the date.
- Assess luster: Uncirculated coins should have a bright, reflective surface.
- Check for full steps: On high-grade specimens, look for complete steps on the Lincoln Memorial.
Preservation and Storage Tips
To maintain the value of your 1959 pennies:
- Handle coins by their edges, never touching the faces
- Store in non-PVC holders or flips
- Keep in a cool, dry environment to prevent toning
- Consider professional grading for high-value specimens
Where to Sell Your Valuable 1959 Penny
If you believe you have a valuable 1959 penny, consider these options:
- Local coin shops: For expert evaluation and potential quick sales
- Online marketplaces: eBay, Etsy, or specialized numismatic websites
- Auction houses: For rare and high-value specimens
- Coin shows: To connect with dealers and collectors directly
- Professional grading services: PCGS or NGC for authentication and grading
The Future of 1959 Penny Collecting
As we move further from 1959, these pennies are becoming increasingly scarce in circulation. This scarcity, combined with their historical significance as the first year of the Memorial reverse, suggests that the value of high-grade 1959 pennies may continue to appreciate over time.
Collectors should pay particular attention to:
- Red specimens in MS-66 and above
- Proof coins with deep cameo contrast
- Authenticated error coins, especially the controversial 1959-D Mule
Conclusion: More Than Just Pocket Change
While most 1959 pennies in circulation are worth only their face value, certain specimens can be quite valuable to collectors. The key is to look for high-grade red examples, rare error coins, or proofs in exceptional condition.
As a collector, remember that the true value of a coin often extends beyond its monetary worth. The 1959 penny represents a significant moment in American numismatic history, marking both Lincoln's 150th birthday and a major design change for the cent.
Whether you're a seasoned numismatist or just checking your change, understanding the factors that contribute to a 1959 penny's value can help you spot a potential treasure. Keep your eyes open, and you might just find a piece of history worth far more than one cent in your pocket!
