The 1968 Lincoln Memorial Cent is a fascinating coin for collectors, due to its historical significance, variations, and potential value.
As part of the long-running Lincoln cent series, the 1968 coin saw the return of mint marks on U.S. coins after a brief hiatus. It was produced in three major mint locations: Philadelphia (no mint mark), Denver (D), and San Francisco (S).
Minting Details and Composition
The 1968 Lincoln Memorial Cent is made of 95% copper and 5% zinc, weighing 3.11 grams, with a diameter of 19 millimeters. Designed by Victor David Brenner with an engraved reverse by Frank Gasparro, the coin features Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse.
The cent was minted in the following quantities:
- Philadelphia (no mint mark): 1,707,880,970 coins
- Denver (D): 2,886,269,600 coins
- San Francisco (S): 258,270,001 coins (regular strike and proof)
Key Variations and Errors
Some of the most valuable 1968 Lincoln cents come from mint errors and proof variations. Below are the most significant ones:
- Doubled Die Penny: This error can increase the coin’s value dramatically, especially if there is noticeable doubling in areas like Lincoln’s eye or the inscriptions. Depending on the magnitude of the doubling, these pennies can be worth between $25 and $100.
- Repunched Mint Mark (RPM): Due to the hand-punching process used to add mint marks, errors such as repunched marks are common. A 1968-D or 1968-S penny with this error can fetch between $5 and $15 depending on the condition.
- Floating Roof Penny: This error results from excessive die polishing, causing the roof of the Lincoln Memorial on the reverse to appear detached. Although not widely recognized by all authorities, this variety can sell for $1 to $5.
- Die Break Errors: These can result in interesting features like cracks or extra lumps on the surface of the coin. The most common type, the “BIE” error, occurs between the “B” and “E” in “LIBERTY” on the obverse, making the coin worth $5 to $10.
Proof Coins
Proof coins from the San Francisco Mint are highly sought after by collectors. In 1968, the San Francisco Mint struck over 3 million proof coins, making them relatively abundant.
However, high-grade examples can be extremely valuable. For instance, a 1968-S proof Lincoln cent graded PR69DCAM sold for nearly $3,800 in a 2002 auction.
Value of the 1968 Lincoln Memorial Cent
The value of a 1968 Lincoln Memorial Cent varies greatly depending on its condition, mint mark, and whether it contains any rare errors. Here’s a general breakdown:
| Mint Mark | Condition (MS/PR) | Estimated Value |
|---|---|---|
| No Mint Mark | Circulated: $0.01 – $0.50 | Uncirculated: $0.10 – $1.16 |
| D (Denver) | Circulated: $0.01 – $0.50 | Uncirculated: $0.17 – $1.16 |
| S (San Francisco) | Circulated: $0.01 – $0.50 | Proof: $1 – $3,800 (PR69DCAM) |
Grading Your 1968 Lincoln Cent
To accurately assess the value of your 1968 Lincoln cent, it’s important to understand coin grading. The coin’s surface condition, level of wear, and any potential flaws are considered. Uncirculated coins (MS60 and above) have no wear, while circulated ones show signs of handling.
Rare Sales and Auction Prices
Some of the rarest 1968 Lincoln cents have fetched significant amounts at auction:
- A 1968-S Proof penny graded PR69DCAM sold for nearly $3,800.
- High-grade MS67RD examples can sell for up to $4,000, especially those with unique errors or exceptional toning.
Conclusion
The 1968 Lincoln Memorial Cent holds a significant place in U.S. numismatic history. Although the majority of these pennies are worth only a few cents, certain errors, high-grade coins, and proof versions can command impressive prices. Collectors interested in these coins should be vigilant for rare varieties and always ensure proper grading.
FAQs
1. What is the most valuable 1968 Lincoln Memorial Cent?
The most valuable versions are high-grade proof coins and error coins. A 1968-S proof cent graded PR69DCAM once sold for $3,800.
2. How can I tell if I have a rare 1968 Lincoln penny?
Look for key errors like the doubled die, repunched mint marks, or the floating roof variety. Additionally, getting your coin graded by a professional service will help assess its true value.
3. How much copper is in a 1968 Lincoln cent?
Each coin contains 95% copper, making its melt value around $0.03. However, due to its numismatic value, it’s worth far more than just the material.
4. Are all 1968-S pennies valuable?
Not necessarily. Circulated 1968-S pennies are worth about $0.01 to $0.50, but high-grade uncirculated or proof examples can be worth much more.
5. What should I do if I find a 1968 penny error?
If you find a penny with an error like a doubled die or repunched mint mark, consider having it professionally graded. This can significantly increase its value.