In the world of numismatics, every coin tells a story. The 1968 penny, often overlooked in everyday transactions, holds a special place in American coinage history. This comprehensive guide will explore the intricate details, historical significance, and potential value of the 1968 penny, offering insights for both novice collectors and seasoned numismatists.
The Historical Context of the 1968 Penny
The 1968 penny is part of the Lincoln Memorial cent series, which began in 1959 to commemorate the 150th anniversary of Abraham Lincoln's birth. This design marked a significant shift from the previous wheat penny design, showcasing the iconic Lincoln Memorial on the reverse.
Key Historical Points:
- Designed by Victor D. Brenner (obverse) and Frank Gasparro (reverse)
- First U.S. coin to feature the same person on both sides
- Minted during a tumultuous year in American history, including the assassinations of Martin Luther King Jr. and Robert F. Kennedy
Physical Characteristics and Composition
Understanding the physical attributes of the 1968 penny is crucial for both identification and valuation:
- Diameter: 0.75 inches (19.05 mm)
- Weight: 0.109 ounces (3.11 g)
- Thickness: 0.059 inches (1.52 mm)
- Edge: Plain
- Composition: 95% copper, 5% zinc or tin
1968 Penny Varieties and Mintage
The U.S. Mint produced pennies at three locations in 1968, resulting in three main varieties:
- 1968 No Mint Mark (Philadelphia): 1,707,880,000 minted
- 1968 D (Denver): 2,886,241,000 minted
- 1968 S (San Francisco): 258,270,000 minted
Additionally, the San Francisco Mint produced 3,041,506 proof versions for collectors.
Factors Influencing the 1968 Penny Value
Several factors affect the value of a 1968 penny:
- Mint Mark: Coins from different mints may have varying values
- Condition: Better-preserved coins are generally more valuable
- Color: Red (RD), Red-Brown (RB), or Brown (BN) designations affect value
- Errors and Varieties: Rare errors or die varieties can significantly increase value
- Demand: Market trends and collector interest influence prices
Comprehensive 1968 Penny Value Guide
1968 No Mint Mark (Philadelphia)
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| Good (G4) | $0.02 | – | – |
| Fine (F12) | $0.02 | – | – |
| MS-60 | $0.10 | $0.15 | $0.20 |
| MS-63 | $0.20 | $0.30 | $0.75 |
| MS-65 | $1.00 | $1.50 | $2.50 |
| MS-67 | $225 | $250 | $300+ |
Notable Sale: An MS-67 RD specimen sold for $2,880 in August 2018 at a Heritage Auctions event.
1968-D (Denver)
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| Good (G4) | $0.02 | – | – |
| Fine (F12) | $0.02 | – | – |
| MS-60 | $0.10 | $0.15 | $0.20 |
| MS-63 | $0.20 | $0.30 | $0.75 |
| MS-65 | $1.00 | $1.50 | $2.50 |
| MS-67 | $165 | $200 | $250+ |
Notable Sale: An MS-67 RD specimen sold for $2,300 in November 2008 at a Stack's Bowers auction.
1968-S (San Francisco)
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| Good (G4) | $0.02 | – | – |
| Fine (F12) | $0.02 | – | – |
| MS-60 | $0.10 | $0.15 | $0.20 |
| MS-63 | $0.20 | $0.30 | $0.75 |
| MS-65 | $1.00 | $1.50 | $2.50 |
| MS-67 | $90 | $110 | $150+ |
Notable Sale: An MS-67 RD specimen sold for $499 in April 2013 at a Heritage Auctions event.
1968-S Proof
| Grade | Cameo | Deep Cameo (DCAM) |
|---|---|---|
| PR-63 | $7.00 | $10.00 |
| PR-65 | $10.00 | $15.00 |
| PR-67 | $20.00 | $30.00 |
| PR-69 | $100 | Up to $1,650 |
Notable Sale: A PR-69 DCAM specimen sold for $3,795 in November 2002 at a Heritage Auctions event.
Rare 1968 Penny Errors and Their Values
Error coins can be highly valuable to collectors. Here are some notable 1968 penny errors:
-
Off-Center Strikes:
- 10% off-center: $5-$10
- 50% off-center: $50-$100
- 75% off-center: $100-$200+
-
Re-Punched Mint Mark:
- A 1968-D with RPM error sold for $239 on eBay in 2022
-
Double Die Obverse (DDO) or Reverse (DDR):
- A 1968-D DDR MS-65 RD sold for $285 in May 2023 at a Stack's Bowers auction
-
Wrong Planchet Error:
- A 1968-D cent struck on a silver dime planchet sold for $4,600 in a 2019 Heritage Auctions event
-
Broadstruck Error:
- Depending on condition, can range from $20 to $100+
How to Identify a Valuable 1968 Penny
To determine if your 1968 penny might be valuable:
- Check the mint mark (or lack thereof)
- Examine the overall condition and color
- Look for any obvious errors or oddities
- Use a magnifying glass to spot subtle doubled die errors
- Weigh the coin to ensure it matches the standard weight
- Compare the coin's details with high-resolution images of known valuable specimens
Preserving Your 1968 Penny
If you believe you have a valuable 1968 penny:
- Handle it by the edges to avoid damaging the surfaces
- Store it in a non-PVC coin holder or flip
- Keep it in a cool, dry place away from direct sunlight
- Consider getting it professionally graded for higher-value specimens
- Use cotton gloves when handling uncirculated or high-grade coins
The Investment Potential of 1968 Pennies
While most 1968 pennies are worth only face value or slightly more, high-grade specimens and rare errors can be solid investments:
- MS-67 and above coins have shown steady appreciation over the past decade
- Proof coins in PR-68 and PR-69 grades are particularly sought after by collectors
- Rare errors like the wrong planchet strike can command significant premiums
- The copper content of these pennies provides a baseline value, currently about 2 cents per coin
Price Trends (2010-2023)
| Year | MS-67 RD (Philadelphia) | PR-69 DCAM |
|---|---|---|
| 2010 | $1,200 | $2,500 |
| 2015 | $1,800 | $3,000 |
| 2020 | $2,500 | $3,500 |
| 2023 | $2,800 | $3,800 |
Note: These are approximate values based on auction results and may vary.
Where to Sell Your Valuable 1968 Penny
If you believe you have a valuable 1968 penny, consider these options:
- Reputable coin dealers (e.g., American Numismatic Association members)
- Online auction sites like eBay or Heritage Auctions
- Coin shows and exhibitions (e.g., ANA World's Fair of Money)
- Direct sale to collectors through numismatic forums (e.g., CoinTalk, Reddit's r/coins)
Always research current market values and get multiple opinions before selling. For high-value coins, consider getting them certified by a reputable grading service like PCGS or NGC.
The Cultural Significance of the 1968 Penny
Beyond its numismatic value, the 1968 penny serves as a tangible connection to a pivotal year in American history:
- Minted during the height of the Vietnam War
- Circulated during the Apollo 8 mission, the first manned spacecraft to orbit the moon
- Part of the economy during significant civil rights advancements
Collecting these coins allows enthusiasts to hold a piece of this historical context in their hands.
Conclusion: The Enduring Appeal of the 1968 Penny
The 1968 penny, while common in circulation, offers a fascinating window into American numismatic and cultural history. From its design commemorating one of America's greatest presidents to the potential for rare and valuable errors, this coin continues to captivate collectors and historians alike.
Whether you're a seasoned numismatist or just starting to explore the world of coin collecting, the 1968 penny serves as an excellent entry point. Its accessibility combined with the potential for discovering a rare and valuable specimen makes it an exciting coin to study and collect.
Remember, the true value of coin collecting often lies not just in monetary worth, but in the historical connections and personal enjoyment it brings. Every 1968 penny tells a story – perhaps one of them will become part of your collection's story too. As you embark on your numismatic journey, let the humble 1968 penny be a reminder that sometimes, the most extraordinary treasures can be found in the most ordinary places.
