The Lincoln cent, a staple of American coinage, holds a special place in the hearts of collectors. Understanding the factors that influence its value, particularly for the 1969 penny, is key to building a rewarding collection. So, How Much Is A 1969 Penny Worth? Let’s dive into the details.
The Enduring Appeal of the 1969 Penny
The Lincoln cent is a popular choice among coin collectors, primarily because it was the first time a real person, Abraham Lincoln, was featured on a circulating US coin. The value of a 1969 Lincoln penny depends on its condition, coloration, and any potential errors. Mint state regular strikes can range from $10 to thousands of dollars, while error coins, like the 1969-S Doubled Die, can command prices from tens of thousands to hundreds of thousands of dollars.
A Brief History of the 1969 Penny
First minted in 1909, the Lincoln penny was a tribute to Abraham Lincoln, initiated by President Roosevelt. This penny replaced the Indian Head cent, breaking tradition by featuring a real person on a circulating coin. Initially, the reverse design featured two ears of wheat, leading to the “Wheat Penny” nickname. In 1959, the US Mint introduced the Lincoln Memorial design on the reverse, which remains today.
| 1969 Lincoln Cent (Penny) |
|---|
| Face Value |
| Mass |
| Diameter |
| Thickness |
| Composition |
| Obverse |
| Design |
| Designer |
| Reverse |
| Design |
| Designer |
| Mint marks |
The Design of the 1969 Lincoln Penny
The Lincoln cent’s design was introduced in 1909 to celebrate the centennial of Abraham Lincoln’s birth. The obverse features a bust of President Lincoln, designed by Victor David Brenner. Above the bust is the motto “IN GOD WE TRUST,” with “LIBERTY” to the left and the minting year, 1969, to the right. The reverse, designed by Frank Gasparro, showcases the Lincoln Memorial, introduced in 1959 to commemorate the 150th anniversary of Lincoln’s birth. The inscriptions “E PLURIBUS UNUM” appear above the memorial.
Factors Influencing the Value of a 1969 Penny
Several factors play a crucial role in determining how much a 1969 penny is worth.
Mint Marks
The 1969 pennies were minted in Denver, Philadelphia, and San Francisco. Mint marks are significant because they indicate where the coin was struck, affecting its scarcity and collectibility.
A close-up view of the “S” mint mark on a 1969-S Lincoln penny, indicating it was minted in San Francisco.
Certain mint marks are rarer due to varying mintages, leading to higher prices for coins from specific US Mint branches.
Rarity
While 1969 Lincoln Memorial coins are not particularly rare in general, their surviving population in superb gem condition with original red mint coloration is scarce. The Philadelphia Mint produced 1,136,910,000 units, Denver produced 4,002,832,200, and San Francisco had the smallest mintage with 544,375,000. The enhanced details in Lincoln’s portrait make contact marks more prominent, limiting the availability of coins in very high grades.
Coin Grading
Coin grading assesses a coin’s condition using a numerical scale. The Professional Coin Grading Service (PCGS) uses the Sheldon Scale, ranging from 1 (heavily worn) to 70 (perfect mint condition).
An illustration of the Sheldon Coin Grading Scale, showing the range from Poor (PO-01) to Perfect Uncirculated (MS-70).
Collectors and dealers rely on graded coins to accurately represent their condition. Higher grades command higher values due to their rarity and desirability. Grading provides a standardized way to communicate a coin’s condition, ensuring transparency in the marketplace. Even in circulated condition, graded coins are more liquid and easier to trade.
Color Designations
Copper coins are classified by their hues: Red (RD), Red-Brown (RB), and Brown (BN). These classifications are based on how the coin’s copper composition reacts to environmental exposure.
Red (RD)
A 1969 penny is primarily made of copper, displaying a red hue when freshly minted. PCGS classifies coins as “Red” when they retain 95% or more of their original mint red color.
A 1969 Lincoln penny with a “Red” (RD) designation, indicating it retains a high percentage of its original mint luster.
A reddish tone indicates minimal circulation and exposure to air, implying better condition and higher value.
Red-Brown (RB)
A 1969 Lincoln penny displaying a “Red-Brown” (RB) coloration, showing some oxidation.
PCGS categorizes coins as Red-Brown when they retain between 5% and 95% of their original red color and are graded MS60 or higher.
Brown (BN)
A 1969 Lincoln penny with a “Brown” (BN) designation, indicating significant oxidation and loss of original luster.
PCGS designates coins as Brown when they display less than 5% of their original red color. Red coins are generally more desirable and command higher prices due to less wear. Understanding these color distinctions helps protect against counterfeit coins.
Proof Coins
In 1969, the San Francisco Mint struck both regular strike pennies and proofs. Proof coins have a similar grading system from 1 to 70 but are abbreviated as PR. Color is crucial for proof coins, with designations like Cameo (CAM) and Deep Cameo (DCAM).
Cameo
PCGS designates “Cameo” for proofs exhibiting light to moderate frosting of the devices.
A 1969-S Lincoln penny proof coin with a Cameo (CAM) designation, showing frosted devices against mirrored fields.
Deep Cameo
A 1969-S Lincoln penny proof coin with a Deep Cameo (DCAM) designation, displaying deep, even frosting on the devices.
PCGS designates “Deep Cameo” for proofs with deep, even frosting on the devices. Deep Cameo coins have more contrast between the high points and other design elements, making them more expensive. According to PCGS, a Deep Cameo PR69 sold for $1,725 in 2010, while a Cameo PR69 sold for $108 in 2014.
Error Coins
1969-S DDO Lincoln Penny
This is the most notable error in Lincoln coins. Initially believed to be counterfeited, many were destroyed by the Secret Service, making the error rarer.
A 1969-S Lincoln penny with the Doubled Die Obverse (DDO) error, showing doubling on the date and inscriptions.
A genuine 1969-S Doubled Die Obverse cent will not have doubling on the mintmark. There’s strong doubling on the date and inscriptions “LIBERTY” and “IN GOD WE TRUST”. The PCGS Price Guide values this coin from $31,500 (MS-60) to $605,000 (MS-66). An MS64 specimen sold for $126,500 in 2008.
1969-D “No FG” Lincoln Penny
A 1969-D Lincoln penny missing the “FG” initials of the designer Frank Gasparro.
Some 1969 pennies minted in Denver lack the initials “FG” due to minting errors. The most recent auction record for this error, graded MS62, fetched $198 in 2014. PCGS prices for uncirculated coins range from $60 to $210.
1969 Penny Value Chart
The following information pertains only to PCGS-graded coins and provides a tool for assessing a coin’s value.
| Type 3, Memorial Reverse (Copper), Regular Strikes |
|---|
| Date |
| 1969 |
| 1969-D |
| 1969-D No FG FS-901 |
| 1969-D |
| 1969-D No FG FS-901 |
| 1969-D |
| 1969-D No FG FS-901 |
| 1969-S |
| Type 3, Memorial Reverse (Copper), Error Coins |
|---|
| Date |
| 1969-S Doubled Die Obverse about 30 known |
| 1969-S Doubled Die Obverse |
| 1969-S Doubled Die Obverse |
| 1969-D No FG FS-901 |
| 1969-D No FG FS-901 |
| 1969-D No FG FS-901 |
| Type 3, Memorial Reverse (Copper), Proof |
|---|
| Date |
| 1969-S |
| 1969-S |
| 1969-S |
Data From PCGS
Final Thoughts
The 1969 Lincoln cent’s value depends on various factors, including mint mark, condition, color, and the presence of errors. Understanding these elements helps collectors accurately assess their coins and make informed decisions. Coin grading, market trends, and collector interest all contribute to the price. By considering these factors, you can navigate the coin-collecting market with greater confidence.
FAQs
Are 1969 pennies valuable?
Uncirculated 1969 pennies from the Denver Mint are valued around $5, especially if they exhibit vibrant Red or Red-Brown colors. Exceptional examples (MS67) can command prices as high as $8,000. Red 1969 pennies from the San Francisco Mint in near-pristine condition (MS68) can fetch up to $10,000. 1969 Red pennies from the Philadelphia Mint have values ranging from $6 for lower grades to $575 for coins at the highest grade (MS67).
What is a floating roof on a 1969 penny?
The “floating roof” is discussed as a potential variety of the 1969 penny. As of April 2024, this variety hasn’t been officially documented by PCGS or NGC. Check the NCG official guide of NGC-recognized varieties of the 1969 Lincoln Cent. If it’s a fake variety, it has no added value.
Are there any errors on a 1969 penny?
The two known errors are the “1969 S Double Die Obverse” and the “1969 D NO ‘FG’ Penny.” The doubled die error has strong doubling on “IN GOD WE TRUST,” “LIBERTY,” and the date. The No FG variety is distinguishable by the missing Frank Gasparro initials on the reverse, likely due to overpolishing of the die.
