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The 1960 Lincoln Penny is worth anywhere from $0.05 in circulated condition to over $10,000 for rare proof varieties in pristine state. While most pennies found in change are common, identifying the “Small Date” variety from the Denver or Philadelphia mint can significantly increase the value of your pocket change.
| Variety & Mint Mark | Circulated Value | Uncirculated (MS65) | Auction Record |
|---|---|---|---|
| 1960 Philadelphia Small Date | $2.00 – $5.00 | $25.00+ | $4,025 |
| 1960 Philadelphia Large Date | $0.05 | $1.00 | $5,463 (MS67) |
| 1960-D Denver Small Date | $0.10 | $5.00 | $1,000+ |
| 1960-D Denver Large Date | $0.05 | $0.50 | $500+ |
Why the 1960 Small Date Penny is a Collector Favorite
The year 1960 is iconic in the world of numismatics because it introduced a major mid-year design change. Early in the year, the Philadelphia and Denver mints produced dies with a “Small Date” format. However, these dies were prone to breaking and “chipping” because the digits were engraved too deeply and narrowly.
To solve this production issue, the mint redesigned the date to be larger and more robust, resulting in the “Large Date” variety. If you are struggling to tell the difference visually, you can use a top coin identifier app to get an instant analysis of your coin’s specific variety.
For many Americans, the 1960 Small Date Philadelphia cent is the “holy grail” of that year because it was produced in much lower quantities than its Denver counterpart. While the Denver Mint struck millions of Small Dates before switching, Philadelphia only struck approximately 2 million before the change. Using the CoinKnow app helps you navigate these subtle differences so you don’t accidentally spend a $5 bill disguised as a penny.
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How to Tell the Difference: 1960 Large Date vs Small Date
Distinguishing between these two varieties requires a close look at the numbers in the date. In the Small Date variety, the top of the “1” is roughly level with the top of the “9,” and the inner loop of the “6” is noticeably smaller. The most telling sign is the “0”—on a Small Date, the inside of the zero is shaped like an oval, whereas on a Large Date, it is more circular.
Furthermore, look at the alignment of the digits. On the Large Date, the “9” and “6” extend higher and lower than on the Small Date. The tail of the “6” is also much longer on the Large Date. If you have a high-grade specimen, you can check the 1960 Large Date MS65 RD price trends to see how much condition plays into the final market value.
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If you are still unsure, CoinKnow allows you to upload a macro photo of the date area. The AI compares your coin against thousands of authenticated samples to tell you exactly which variety you are holding in your hand.
| Feature | Small Date Characteristics | Large Date Characteristics |
|---|---|---|
| The Digit “1” | Level with the top of the 9 | Lower than the top of the 9 |
| The Digit “6” | Small upper loop, short tail | Large circle, long pointed tail |
| The Digit “0” | Narrow and oval-shaped | Round and thick-walled |
The Value of the 1960 Small Date Philadelphia Penny
Because only 2,075,000 Small Date pennies were minted in Philadelphia (no mint mark), they carry a significant premium. Even in “pocket change” condition, these coins are worth several dollars. If you find one that looks shiny and new, its value can skyrocket.
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Collectors are particularly interested in “Red” (RD) versions of these coins. Copper coins oxidize over time, turning from bright red to brown. A 1960 Small Date that has retained its original mint luster is a rare find. You can find more detailed breakdowns of 1960 penny auction prices to see why some coins sell for hundreds of dollars while others only bring in a few cents.
High-grade versions certified by companies like PCGS or NGC often sell for $50 to $200. However, most casual hunters will find “Brown” (BN) or “Red-Brown” (RB) examples. While not worth thousands, finding a $5 coin in your spare change jar is still a massive win.
1960-D Large and Small Date Values
Unlike the Philadelphia versions, the Denver (D) mint produced Small Dates in massive quantities—roughly 200 million of them. Because they are so common, a circulated 1960-D Small Date is usually only worth about 10 to 20 cents. It is a great coin for beginners to collect, but it won’t pay for a vacation.
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The 1960-D Large Date is the most common of all, with over 1.3 billion struck. These are essentially worth face value if they are worn. However, the Denver Mint is famous for “Overdates” and “Double Dies” from this year. Specifically, look for the 1960-D Small Date over Large Date (D/D) variety.
These “RPM” (Re-punched Mint Mark) coins can be worth a significant amount to specialists. When you use CoinKnow, the app can help highlight areas of the coin where doubling might occur, helping you spot these rare errors that the naked eye often misses.
| Mint Mark | Total Mintage | Scarcity Rank |
|---|---|---|
| 1960 (P) Small Date | 2,075,000 | Very Rare |
| 1960 (P) Large Date | 586,405,000 | Common |
| 1960-D Small Date | ~200,000,000 | Uncommon |
| 1960-D Large Date | ~1,300,000,000 | Very Common |
Valuable Errors to Look For in 1960 Pennies
Beyond the date sizes, 1960 was a messy year for the US Mint. Collectors frequently hunt for “Double Die Obverse” (DDO) coins. On a 1960 penny, a DDO usually manifests as a slight blurring or doubling of the letters in “IN GOD WE TRUST” or “LIBERTY.”
Another famous error is the “D over D” re-punched mint mark. Sometimes, the mint worker would strike the “D” stamp twice because the first one was misaligned. These small mistakes can turn a common Denver penny into a $50 collectors’ item.
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Always check the reverse of the coin as well. While the 1960 cent features the Lincoln Memorial design (which began in 1959), check for die cracks or “cuds”—blobs of extra metal where the coin die broke during production. These errors add unique character and value to otherwise standard coins.
Conclusion: Is Your 1960 Penny Worth Saving?
If you find a 1960 penny without a mint mark (Philadelphia) and the date looks “Small,” you should absolutely put it in a protective sleeve. It is a piece of numismatic history that carries a premium today. If you find a Denver penny with a small date, it is a fun piece of history but mostly a curiosity unless it is in perfect condition.
For the everyday American, the best practice is to sort your coins and use a digital tool like the CoinKnow app to catalog your finds. You never know when a simple penny from 1960 could be the start of a valuable collection or a lucky payday.
| Condition | Estimated Value (Philly Small Date) |
|---|---|
| Good (G4) | $1.50 |
| Fine (F12) | $2.25 |
| Extremely Fine (XF40) | $4.00 |
| Uncirculated (MS63) | $15.00 |
FAQ
Q: Does a 1960 penny have any silver in it?
A: No, the 1960 Lincoln Penny is composed of 95% copper and 5% tin and zinc. It does not contain any silver. However, its copper content alone makes it worth more than 2 cents in melted metal value (though melting US coins is currently illegal).
Your Old Coin Could Be Valuable!
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Q: Where is the mint mark on a 1960 penny?
A: The mint mark (a small “D” for Denver) is located on the “heads” side (obverse), directly below the date. If there is no letter under the date, it was minted in Philadelphia.
Q: Why is the Small Date more valuable than the Large Date?
A: The Small Date is more valuable primarily because of its lower mintage in Philadelphia and its popularity as a “variety” among collectors. Since the Mint switched to the Large Date design quickly, fewer Small Dates exist today, especially in high grades.
Q: Can I find a 1960 Small Date in my pocket change today?
A: While rare, it is still possible! Most have been pulled out by collectors over the last 60 years, but “bank-wrapped rolls” or old jars of coins often hide these treasures. Always check your change!