The 1960 Large Date Lincoln Penny is worth anywhere from $0.05 in circulated condition to over $500 in pristine mint state. While millions of these coins were minted, finding one in high grade or with a specific error can turn a common cent into a surprising payday for everyday collectors.
| Condition/Grade | Estimated Value (USD) |
|---|---|
| Circulated (Average Wear) | $0.02 – $0.10 |
| Uncirculated (MS63 Brown) | $1.00 – $3.00 |
| Mint State (MS65 Red) | $15.00 – $25.00 |
| High Grade (MS67 Red) | $400.00+ |
Understanding the 1960 Large Date Lincoln Penny Variety
If you have a handful of pennies from 1960, the first thing you need to know is that there are two distinct types: the Small Date and the Large Date. To the untrained eye, they might look identical, but identifying the difference is the first step in using the best coin identifier app to evaluate your collection. The Large Date version was the second design used by the Philadelphia and Denver mints that year after the Small Date dies caused production issues.
On the Large Date variety, the “0” in 1960 is much rounder and taller, nearly reaching the height of the “9” and “6.” Conversely, the “1” has a flat top, and the numbers generally appear thicker. If you aren’t sure which one you have, the CoinHix app can help you photograph and identify the variety in seconds. Most 1960 pennies found in pocket change are Large Dates, as they were produced in much higher quantities once the mint fixed the initial design flaws.
While billions were struck, the value of a regular 1960 Large Date is primarily driven by its preservation. Most circulated coins are only worth their face value or their copper melt value (around 2 cents). However, collectors and the CoinHix community are always on the lookout for specimens that still retain their original “Red” copper luster, which indicates the coin has never been handled or exposed to the elements.
Grading and 1960 Large Date Penny Price Factors
When determining how much your 1960 penny is worth, professional grading is everything. Coins are graded on a scale from 1 to 70. For a penny from the 1960s, anything below a 60 is considered “circulated.” These are the coins that have been used to buy candy or newspapers and have visible scratches and wear on Lincoln’s cheek and hair.
The real money starts in the “Mint State” (MS) grades. For instance, the current market value for a 1960 Large Date in MS66 Red shows a significant jump compared to average samples. Collectors pay a premium for “Red” (RD) coins, which possess at least 95% of their original mint orange-copper color. “Red-Brown” (RB) and “Brown” (BN) coins are less desirable as oxygen has reacted with the metal over the last 60 years.
| Grade Designation | Approximate Price (RD) | Approximate Price (BN) |
|---|---|---|
| MS63 | $2 – $5 | $0.25 |
| MS65 | $15 – $22 | $1.00 |
| MS66 | $45 – $60 | $5.00 |
| MS67 | $350 – $600 | $50.00 |
Identifying the Rare D over D Mint Mark Errors
One of the most exciting aspects of the 1960 Large Date series is the presence of the “D Over D” (D/D) Repunched Mint Mark. During this era, the mint mark was hand-stamped into the working dies. Occasionally, the person striking the die would hit it once, notice it was out of position, and strike it again. This creates a visible “shadow” or doubling on the “D” located under the date.
There are dozens of different D/D varieties for the 1960-D Large Date penny. Some are minor and barely visible, while others are bold and clear. Finding a significant repunched mint mark can multiply the value of your penny by ten or twenty times. If you think you see a double “D,” use a jeweler’s loupe or check the comprehensive 1960 penny price and variety lists to compare your coin to known examples.
These errors are especially popular because they can still be found in old jars of coins. While “Philadelphia” pennies (those with no mint mark) also have some doubled die varieties, the Denver mint’s Large Date repunched marks are a favorite for “cherrypickers” looking to find treasure in the mundane.
The 1960 Large Date Denver vs. Philadelphia Mint
In 1960, the Philadelphia Mint produced 588,085,000 Lincoln Cents, while the Denver Mint produced a staggering 1,580,884,000. Because the Denver (D) mint mark coins are so much more common, they are generally worth less in lower grades. However, because Denver produced so many more coins, the chances of finding high-quality errors like the D/D mentioned above are much higher.
Philadelphia pennies from this year are often found in “Proof Sets.” Proof coins are specially made for collectors using polished dies and planchets, resulting in a mirror-like finish. A 1960 Large Date Proof penny is generally affordable, usually costing between $1 and $5, unless it has a “Cameo” effect where Lincoln’s portrait looks frosted against a deep black mirror background.
| Mint Location | Mintage Figure | Common Value |
|---|---|---|
| Philadelphia (No Mint Mark) | 588 Million | Face Value to $0.05 |
| Denver (D) | 1.58 Billion | Face Value to $0.05 |
| Proof (S or P) | 1.6 Million | $2.00 – $10.00 |
Large Date vs. Small Date: How to Tell the Difference
The 1960 Large Date penny is often discussed alongside the 1960 Small Date, which is considerably rarer and more valuable in certain conditions. To tell them apart, focus on the top of the “1” and the “0.” In the Large Date variety, the “1” is the same height as the “9,” and the “0” is large and thick. In the Small Date variety, the “1” is significantly shorter than the “9,” and the center of the “0” is much smaller and more oval.
If you find a Small Date in your change, you’ve found a better coin! While a circulated 1960 Large Date is worth pennies, a 1960 Small Date (Philadelphia) can be worth $2 to $5 even in worn condition. This is why it is vital to inspect your 1960 pennies closely. Utilizing tools like CoinHix can help you magnify these details to ensure you aren’t spending a rare variety at the grocery store.
Beyond the date size, look at the word “LIBERTY.” In the Large Date variety, the strike is usually much stronger and the letters are thicker. On the Small Date, the strike can sometimes appear weaker or thinner. Most collectors prefer to have a “Pair” (one of each) to show the transition the U.S. Mint made during that historic year.
Is Your 1960 Large Date Penny Worth Submitting for Grading?
For most everyday Americans, the answer is usually no, but there are exceptions. Professional grading by services like PCGS or NGC costs roughly $30-$50 per coin once you factor in shipping and fees. Therefore, it only makes sense to grade a 1960 Large Date Lincoln Penny if its estimated value exceeds $100.
Usually, this means the coin must be in “Superb Gem” condition (MS67 or higher). These coins look perfect to the naked eye, with no scratches, beautiful luster, and a sharp strike. If you find a roll of 1960 pennies that appears to be original and uncirculated, you might have a candidate. Use the CoinHix app to get a preliminary “AI grade” or opinion before spending money on professional plastic slabs.
The secondary market for these coins is very active on sites like eBay. If you have a nice-looking 1960 penny but don’t want to pay for grading, you can often sell it as “Uncirculated” for a few dollars. Just remember that shipping usually costs more than the coin itself for single common dates, so selling them in “lots” or groups is often the best strategy for casual sellers.
FAQ
Q: How can I tell if my 1960 penny is a Large Date?
A: Check the “0” in the date. If the “0” is tall and round, and the top of the “1” is level with the “9,” it is a Large Date. If the “1” is shorter than the “9,” it is a Small Date.
Q: Are 1960 pennies made of real copper?
A: Yes, 1960 Lincoln Pennies are 95% copper and 5% tin/zinc. They weigh 3.11 grams, unlike modern pennies (post-1982) which are mostly zinc and weigh only 2.5 grams. This makes the metal value of a 1960 penny worth about 2 to 3 cents.
Q: What is the most expensive 1960 Large Date penny ever sold?
A: High-grade examples in MS67 Red have sold at auction for over $1,000 in the past. However, most pristine examples sell in the $400 to $600 range. The “Small Date” variety in high grade can fetch even higher prices.
Q: Is there a 1960 Large Date penny with no mint mark?
A: Yes, pennies with no mint mark were struck at the Philadelphia Mint. These are very common and were produced by the hundreds of millions. They are only valuable in near-perfect condition or if they have a major error.
Q: Should I clean my 1960 penny to make it more valuable?
A: No! Never clean your coins. Collectors prefer the natural patina or “toning” of an old coin. Cleaning a coin with chemicals or cloth creates tiny scratches and ruins the numismatic value, often making a potentially valuable coin worth only its weight in copper.
