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The 1968-S Lincoln Penny is worth anywhere from $0.02 in worn condition to over $500 for high-grade proof specimens or rare errors. While most examples found in pocket change are only worth their copper melt value, certain “S” mint marks hold significant interest for collectors looking to complete their sets.
| Condition / Grade | Estimated Value |
|---|---|
| Circulated / Average Wear | $0.02 – $0.05 |
| Uncirculated (Mint State) | $0.10 – $5.00 |
| Proof (S Mint Mark) | $1.00 – $15.00+ |
| Major Errors | $20.00 – $200.00+ |
Why the 1968-S Lincoln Penny is Special
If you’ve discovered a penny dated 1968 with a small “S” underneath the date, you are looking at a product of the San Francisco Assay Office. For several years in the mid-60s, the U.S. Mint removed mint marks entirely to discourage hoarding, but they returned in 1968. This makes the 1968-S Lincoln Cent a hallmark of the “return of the mint mark” era, a detail that excites many novice hunters using a top coin identifier app to sort through their jars.
The San Francisco Mint produced two distinct types of pennies this year: business strikes for circulation and special Proof coins for collectors. While over 258 million business strikes were made, this number is relatively small compared to the billions struck in Philadelphia and Denver. Because San Francisco coins often had lower mintages, they carry a sense of “prestige” among casual collectors, even if they aren’t all worth a fortune.
To truly understand what you have, you should check the coin’s luster and strike. Using a tool like CoinKnow can help you distinguish between a heavily worn street find and a high-quality specimen that might be worth a premium. Most 1968-S pennies you find in your wallet today will be the “business strike” version, which shows signs of wear and tear from decades of economic use.
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Grading and 1968-S Lincoln Cent Prices
Condition is the most important factor when determining the value of any coin. For the 1968-S, collectors pay close attention to the preservation of the copper surface. Copper coins are categorized by their color: Red (RD), Red-Brown (RB), or Brown (BN). A “Red” coin looks like it just rolled off the press, while a “Brown” one has oxidized over time.
For those looking for high-end market data, the 1968-S Red Lincoln Cent price trends show that coins in MS67 or higher can reach surprisingly high prices at auction. While an average uncirculated coin might sell for a few quarters, a flawless specimen can reach three figures because they are so difficult to find without tiny scratches or “bag marks.”
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| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| MS63 | $0.15 | $0.30 | $1.00 |
| MS65 | $0.50 | $1.50 | $10.00 |
| MS66 | $2.00 | $5.00 | $25.00 |
| MS67 | N/A | $15.00 | $150.00+ |
The Value of 1968-S Proof Pennies
In 1968, the San Francisco Mint also produced Proof sets. These are coins made specifically for collectors using polished dies and specially prepared blanks. They have a mirror-like finish and a very sharp strike. Unlike the business strikes meant for circulation, these were sold in protective plastic packaging by the Mint.
If you find a 1968-S penny that looks exceptionally shiny, even deep in the crevices of the design, it might be a proof coin that was removed from its set. These are often valued based on whether they have a “Cameo” or “Deep Cameo” effect—where the portrait of Lincoln looks frosted while the background remains reflective.
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Evaluating these requires a keen eye. Many users find that CoinKnow helps them identify the “Cameo” effect by comparing their coin to high-resolution gallery images. While a basic 1968-S Proof penny is only worth a dollar or two, a Deep Cameo (DCAM) version in perfect condition can fetch over $50.
Rare 1968-S Error Pennies to Look For
The real money in the 1968-S series often lies in errors. During the minting process, things occasionally go wrong, creating unique items that collectors crave. One of the most common errors for this year involves “Machine Doubling,” which is often confused with the more valuable “Doubled Die.”
A Doubled Die Obverse (DDO) occurs when the die itself has a doubled image, resulting in clear, crisp doubling on the lettering or date. For more details on these rare finds, you can check the 1968-S Lincoln Cent error guide. If you find a true DDO, the value can jump into the hundreds of dollars depending on the severity of the doubling.
Your Old Coin Could Be Valuable!
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Other errors to watch for include “Off-Center strikes,” where the coin is only partially stamped, or “Repunched Mint Marks” (RPM). Because 1968 was the first year mint marks returned to the “S” mint, many quality control issues occurred, leading to various minor RPM varieties that interest specialist collectors.
| Error Type | Description | Value Range |
|---|---|---|
| Doubled Die (DDO) | Clear doubling on ‘LIBERTY’ or Date | $20 – $200 |
| Off-Center Strike | Design shifted off the coin blank | $10 – $100 |
| Die Crack (BIE) | Small vertical bar between B and E in Liberty | $5 – $15 |
| Clipped Planchet | A curved piece is missing from the edge | $15 – $50 |
Tips for Selling Your 1968 Lincoln Penny
If you believe you have a valuable 1968-S penny, don’t rush to the first pawn shop you see. Most local shops won’t pay a premium for a coin unless it is professionally graded by a service like PCGS or NGC. Since grading costs around $20-$50 per coin, it is only worth it if the coin’s value exceeds the grading fee.
Before spending money on grading, use the CoinKnow app to get a preliminary assessment. It can help you determine if your coin is a “Red” MS67 or just a shiny spender. If your coin is a common circulated 1968-S, your best bet is to keep it as a part of a copper bullion hoard, as the metal content (95% copper) is actually worth about twice the face value.
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For those with high-grade or error coins, online marketplaces like eBay or GreatCollections are the best places to find buyers. Always take clear, high-resolution photos of both the front (obverse) and back (reverse) of the coin. Good lighting is essential to show off the “S” mint mark and any potential doubling that might lead to a higher sale price.
Conclusion: Is the 1968-S Penny Worth Keeping?
While most 1968-S pennies are not “get rich quick” finds, they are a fascinating piece of American history. They represent a time of transition at the U.S. Mint and remain a staple for anyone starting a Lincoln Cent collection. Whether you found one in a roll of pennies or inherited a collection, knowing the difference between a common coin and a rare error is the first step in the hobby.
Always remember to handle your coins by the edges. The oils from your fingers can damage the delicate copper surface of a high-grade 1968-S, potentially lowering its value from a collector’s item to mere scrap. Keep hunting, keep checking those mint marks, and you might just find a hidden gem in your pocket change.
FAQ
Q: Where is the mint mark on a 1968-S penny?
A: The “S” mint mark is located on the front (obverse) of the coin, just below the date “1968.” If there is no letter, it was minted in Philadelphia. If there is a “D,” it was minted in Denver.
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Q: Why is the 1968-S penny copper?
A: Pennies minted before 1982 were made of 95% copper and 5% zinc/tin. This makes them heavier and more valuable in terms of raw metal than the zinc pennies we use today.
Q: Is a 1968 penny with no mint mark rare?
A: No. The Philadelphia Mint produced over 1.7 billion pennies without a mint mark in 1968. They are very common and usually only worth face value or copper melt value.
Q: What is the most expensive 1968-S penny ever sold?
A: High-grade specimens in MS67 Red condition have sold for over $2,000 at major auctions, though these are extremely rare and must be authenticated by professional grading services.