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1967 Penny Value Guides (Rare Errors, “SMS” and No Mint Mark)

1967 Penny Value Guides (Rare Errors, “SMS” and No Mint Mark)

Did you discover a 1967 Lincoln penny in your change and wondered how much it is worth? Unlike other coins minted past their first year of production, the 1967 penny is unique because the United States Mint produced it only in the same year.

The relatively high copper prices and the fact that the coin is almost entirely made out of copper add to the 1967 penny value.

In this article, you will discover how much your 1967 penny is worth. You will also learn about the coin’s history, unique physical characteristics, and errors that might be worth more than face value.

So, let’s get started!

1967 Penny Value Chart

Mint Mark Good Fine Extremely Fine Uncirculated
1967 No Mint Mark Penny Value $0.05 $0.05 $0.05 $0.05
1967 SMS Penny Value $0.05 $0.05 $0.05 $20

 

History Of 1967 Penny

A coin shortage in the 1960s led the U.S. Mint to devise extraordinary measures to meet the demand for coins. Between 1965 and 1967, the Mint produced coins with no mintmarks, so you would not know from which mint the coins originated.

The Mint also enforced a date freeze so that 1964 silver coins would continue being struck well past 1964. The new nickel-clad coins dated 1965 would also be struck beyond this year.

These harsh measures implemented by the U.S. Mint made coin collection less attractive, which was one of the goals the Mint wanted to accomplish.

The 1967 penny is unique because 1967 was the first year that coins of that same year were struck. Unlike 1964 and 1965 coins that would continue to be struck well beyond their respective calendar year, the 1967 penny was only struck that year.

That said, like the other early ’60s coins, the 1967 penny did not have a mint mark. A total of 907,575,000 of these coins were produced at the Philadelphia mint, 813,715,000 at the San Francisco mint, and 1.327,377,100 in Denver.

The Mint used an old obverse hub to produce the 1967 penny, resulting in a noticeably dull Lincoln portrait. The clothing details, beard, and fine hair were barely noticeable on the coin. The Mint replaced the old hubs with new ones resulting in a more visible Lincoln portrait with all its intended details.

In the end, the Mint released about 3 billion 1967 pennies into circulation, making these coins quite common, a factor that would affect their numismatic value. The resulting coin was 95 percent copper and 5 percent zinc.

Interestingly, in 1967, the Mint struck 1,863,44 special mint sets in addition to the three billion in circulation. The production of proof sets was prohibited so as to curb collector activity and the coin shortage.

Next, let’s look at the unique characteristics of the Lincoln penny.

 

Features Of The 1967 Penny

The 1967 penny was struck in commemoration of President Lincoln’s anniversary. Here are the coin’s obverse and reverse features:

The Obverse of 1967 Penny

The obverse refers to the top or heads of a coin. Victor David Brenner designed the 1967 penny’s obverse in 1909, and the 1967 version looks more or less the same as the original one.

The top side of the coin features a right-facing portrait of President Lincoln. The word LIBERTY appears on the left of the portrait behind the president’s back. The year 1967 appears on the right of the portrait.

Above and around the coin are the words IN GOD WE TRUST.

The circulated 1967 Lincoln pennies have a dull portrait, so the hair, beard, and clothing details are not as visible. These details are, however, visible on the special mint sets struck by a new hub that year.

As mentioned, the Lincoln penny was first struck in 1909 and then later in 1967. There is a noticeable difference between these two sets of coins: On the 1909 version, the designer’s initials, V.D.B., appear under the president’s portrait.

There is no mintmark on the coin’s obverse.

The Reverse of 1967 Penny

The Reverse of 1967 Penny

The reverse is the back side of a coin, also known as the tails. The 1967 penny coin was first developed by Frank Gasparro in 1959, replacing the original 1909 design by Brenner,  featuring a wheat stalk.

The reverse features the Lincoln Memorial with the designer’s initials, F.G., appearing on the lower-right side of the Memorial.

Above and around the coin are the words UNITED STATES OF AMERICA. Between the coin’s edge and the Memorial is the motto: E PLURIBUS UNUM.

At the bottom of the penny, just below the Memorial on the reverse, is the denomination written as ONE CENT.

Other Features of 1967 Penny

The 1967 penny has a smooth edge without the typical lettering or reeding.

It weighs 3.11 grams and has a diameter of 0.75 inches and a thickness of 0.00598 inches. The coin is composed of 95 percent copper and 5 percent zinc, contrasting the silver coins of 1964 and before. The copper content gives the Lincoln coin a reddish color.

The coin shortage and skyrocketing silver prices caused the U.S. Mint to stop using silver for coins, and it began using copper clad instead.

The 1967 Lincoln penny does not have a mint mark.

You should take a deep dive and learn more about specific features and varieties of the 1967 penny to decide whether these coins are worth collecting.

 

1967 Penny Value Guides

The U.S. Mint produced two varieties of the 1967 penny. These are:

  • The 1967 No Mint Mark Penny
  • The 1967 Special Mint Set

Let’s look at the value of each of these two penny varieties.

1967 No Mint Mark Penny Value

The 1967 Lincoln penny is very common with 3, 048,667,100 of these coins having been minted for circulation.

The 1967 Lincoln penny does not have any mintmark, although each of the three mints, i.e., the Philadelphia, Denver, and San Francisco mints, produced 1967 Lincoln pennies. But, without the mint marks, it is impossible to know where each coin originates.

With three billion coins in the market, the Lincoln Memorial penny is generally easily accessible, and tons of people sell these coins at a low price.

That said, 1967 circulation penny coins are slightly worth more than face value. You would think such a common coin would be worth nothing, but that’s not the case.

The Lincoln penny is made of 95% copper and 5% zinc. Copper prices have generally tended to be stable against the dollar; at some point, copper was two times the value of the coin or about $0.20.

Generally, the value of a circulated 1967 penny is about $0.1 to $0.2. Pennies produced for circulation but were never used are known as uncirculated coins, and their value is about 10-20 cents per piece for the 1967 Lincoln variety.

The more worn a coin is, the lesser it is worth. Most 1967 coins minted were released into circulation, and so many of them are therefore worn and will not have any more value beyond the face value.

So, if you discover a 1967 penny, it is probably worn and damaged. Although it might be an antique, this coin is not worth much, and you should not expect it to change your fortunes.

Less worn circulated 1967 pennies are worth slightly more than their worn counterpart. A 1967 Lincoln penny is worth 10-20 cents per coin.

According to the Professional Coin Grading Service(PGS), the most valuable circulated 1967 penny was sold in a 2008 auction at $ 4945.

The 1967 SMS Penny Value

The 1967 SMS Penny Value

Image: pcgs

In addition to the normal 1967 penny produced for general circulation, the U.S. Mint also produced the Special Mint Set (SMS). The SMS is a collectible coin set containing the 1967 nickel, quarter, dime, and a half dollar, in addition to the 1967 SMS penny.

Special Mint Set pennies were also struck from copper. But these coins feature a special silk finish and are a bright brown color, making them quite appealing to the eyes of collectors.

As usual, the 1967 SMS was produced in limited quantities, with the Mint producing just 1,863,344 coins that year.

Generally, the value of a 1967 SMS penny is $0.05 to 1 dollar. The smooth, silky finish and brilliant brownish color make this coin more valuable than the 1967 circulation coin. The fact that only a few of these coins were minted also helps to improve the coin’s value.

According to the Professional Coin Grading Service, the most valuable 1967 SMS penny was sold for $5,581 at an auction in 2014.

 

1967 Penny Errors

1967 Penny Errors

Most collectors hope to find mint-made error coins, as these can sometimes be worth a fortune. With the 1967 penny, there are no known mint-made errors.

That said, some post-mint errors or varieties might be worth a lot of money. Here are some errors you should look out for in a 1967 penny.

1967 Doubled Die Penny

The doubled die error is much sought-after among collectors because a couple of doubled die errors have been worth a lot of money, for example, the 1972 penny.

The doubled die error occurs when a hub strikes its design twice onto a die, and the die then impresses this duplicity on the coin.

For a doubled die error to be worth anything, it must be visible and significant. A dull double die that one must struggle to see will probably not be worth much.

There are now 1967 doubled-done pennies with a significant and visible error. But, some 1967 pennies have minor, dull doubling on the year and lettering on the obverse and reverse.

Depending on the extent of the error, the value of a 1967 doubled die penny is about $20 to $50 each.

1967 Die Crack and Die Break Penny

When old, cracked, or broken dies are used to strike coins, these cracks and breaks can be transferred onto the coin and may appear as bumps, tiny holes, or lines.

The value of the error will depend on the location and size of the break or crack. There are different types of die cracks, and the value will also depend on the type of crack.

Die cuds are one example of a valuable die crack. There are no known 1967 die cud error coins, but typically such errors are worth at least $100.

1967 B.I.E. Error Penny

The B.I.E. error specifically applies to Lincoln cents and is quite common. B.I.E. refers to a small die crack that appears vertically between the letters B and E in the word LIBERTY on the coin’s obverse.

The error seems like a capital I, but it is actually a vertical crack formed by a crack on the die that struck the Lincoln cents, including the 1967 penny.

Although B.I.E. errors are common on 1967 Lincoln pennies, these coins are a worthwhile addition to your collection.

Depending on the coin’s condition, a 1967 B.I.E. error penny is worth between $5 and $15.

 

F.A.Q.

Here are some common questions and answers regarding the 1967 Lincoln.

How do I know if my 1967 penny is worth money?

The 1967 Lincoln penny is worth more or less its face value of between $0.05 and $0.10 in circulated condition. Your coin might be worth more if it is in impeccable mint condition and belongs to the 1967 special mint set. Special mint set 1967 pennies have a brilliant, silky finish, no dents, damages, or tarnishing, and are bright reddish-brown. The 1967 pennies with unusual, less common, and sought-after errors may also be worth a couple of dollars or a few hundred dollars in extreme cases.

What is the error on the 1967 penny?

The B.I.E. is the most common and conspicuous error on the 1967 Lincoln penny. Most 1967 pennies have no known die-related minting errors, but most of these coins have the B.I.E. error. This error results from a crack in the die used to strike the Lincoln cents and appears like a vertical crack (I) between the letters B and E. The B.I.E. error is extremely common and has a value of $5 to $15.

Is a 1967 penny pure copper?

The 1967 Lincoln penny is 95% copper and 5% zinc. The U.S. Mint stopped producing silver coins in 1964 due to the coin shortage and the skyrocketing silver prices that made the metal too expensive to use in minting coins.