The 1968-S Lincoln Penny is worth anywhere from $0.02 in worn condition to over $500 in high-grade mint state or proof condition. While most are worth only a few cents, certain specimens and minting errors can command surprising prices among vintage coin collectors.
| Condition | Estimated Value |
|---|---|
| Circulated (Average) | $0.02 – $0.05 |
| Uncirculated (MS-63) | $0.20 – $1.00 |
| Gem Uncirculated (MS-65+) | $10.00 – $30.00 |
| Proof Specimen (PR-69 DCAM) | $40.00 – $150.00+ |
History and Identification of the 1968-S Lincoln Penny
The year 1968 was a significant transition for the United States Mint. After a brief hiatus during the mid-1960s where mint marks were removed to discourage hoarding, the “S” mark returned to indicate production at the San Francisco Mint. If you find a penny with a small “S” below the date, it means it was struck in California. Identifying these coins is easier than ever with the best coin identifier app, which helps beginners distinguish between the millions of circulating cents and the rare varieties worth keeping.
The San Francisco Mint produced over 258 million Lincoln Pennies for circulation in 1968. Unlike the Philadelphia or Denver strikes, the “S” mint pennies often catch the eye of collectors because of the San Francisco Mint’s long association with high-quality Proof sets. By using CoinHix, you can quickly determine if the penny in your hand is a standard business strike intended for the grocery store or a special proof coin intended for a collector’s album.
Because of the high production volume, a 1968-S penny found in your change today is likely “circulated,” meaning it shows signs of wear and tear. These coins are primarily valued for their copper content, which is currently worth more than the one-cent face value, though it is illegal to melt them down.
Differentiating Between Business Strikes and Proof Coins
One of the most important factors in determining the 1968-S penny value is whether the coin is a “Business Strike” or a “Proof.” Business strikes were made to be spent and were handled roughly by machines and bags. Proof coins, however, were struck on polished planchets with special dies to create a mirror-like finish and sharp details for collectors.
The San Francisco Mint produced over 3 million Proof pennies in 1968. If your penny looks incredibly shiny, as if you could see your reflection in the background, it might be a proof. These coins often carry higher values than their circulated cousins. To get an accurate reading on current market trends, check out the detailed 1968-S penny value information provided by experts.
When evaluating your coin, look closely at the “Cameo” effect. On high-quality proof coins, Lincoln’s profile will appear frosted (matte), while the background (field) remains shiny and reflective. These “Deep Cameo” (DCAM) pennies are the most sought-after by professionals using CoinHix to build high-end collections.
| Coin Type | Mintage | Top Heritage Auction Price |
|---|---|---|
| 1968-S Business Strike | 258,270,001 | $2,880 (MS67) |
| 1968-S Proof | 3,041,506 | $575 (PR69) |
Understanding the Lincoln Penny Grading Scale
To know if your 1968-S Lincoln Penny is worth $1 or $100, you must understand the grading scale. Coins are graded from 1 (poor) to 70 (perfect). For the average person, focusing on terms like “Good,” “Fine,” and “Mint State” is the best way to categorize their finds. A Mint State (MS) coin will have no visible wear and should still have its original orange-red copper luster.
Surface color also plays a massive role in copper coin pricing. Cents are graded as Brown (BN), Red-Brown (RB), or Red (RD). A “Red” coin is one that looks as fresh as the day it was minted. Collectors pay a significant premium for 1968-S RD Lincoln Penny price data because copper naturally turns brown over time when exposed to oxygen.
Using a tool like CoinHix can help you compare your coin’s luster with high-resolution photos of graded coins. If your penny has scratches, dings, or has turned a dark chocolate brown, it will likely be graded as BN and hold minimal value above its copper scrap worth.
Rare 1968-S Penny Errors to Look For
If you want to find a 1968-S Lincoln Penny worth serious money, you need to look for errors. Errors occur during the minting process and can result in unique rarities. One of the most common errors for this year is “Machine Doubling,” which looks like a shadow around the letters. While interesting, machine doubling doesn’t usually add much value.
However, a “Doubled Die” (DDO or DDR) is a highly collectible error where the die itself was engraved with a doubled image. Look at “In God We Trust” or the date; if the doubling is distinct and clear, you might have a rare variety. Other errors include “Die Cracks,” where the metal of the die cracked, causing a raised line of copper on the penny’s surface.
Another fascinating error is the “Repunched Mint Mark” (RPM). Since mint marks were punched into the dies by hand in 1968, some pennies show the “S” stamped twice, often slightly overlapping. Finding an RPM can turn a common 1968-S cent into a $20 to $50 item depending on the severity of the error and the condition of the coin.
| Error Type | Key Feature | Est. Value Addition |
|---|---|---|
| Doubled Die Obverse | Thickened or overlapping letters in “LIBERTY” | $25 – $100+ |
| Off-Center Strike | Part of the design is missing; blank crescent | $5 – $50 |
| Lamination Error | Surface of the coin is peeling or cracked | $1 – $10 |
Collecting 1968-S Pennies as an Everyday Hobby
For most Americans, the 1968-S Lincoln Penny is a great “gateway coin.” It is old enough to feel historic but common enough that you can still find it in circulation or at the bottom of a jar of spare change. Starting a collection doesn’t require thousands of dollars; it just requires a keen eye and a bit of patience.
When you start your collection, keep your 1968-S pennies in a cool, dry place. Moisture is the enemy of copper, causing it to develop “verdigris” (that nasty green corrosion). Acid-free coin flips or folders are the best way to preserve the condition of your coins and ensure they don’t lose value over time.
Remember that coin collecting is about more than just profit—it’s about holding a piece of American history. Each 1968-S penny was minted during a year of incredible social change and space exploration. Holding one in your hand connects you to that era. Whether you are looking for a million-dollar rarity or just a fun afternoon hobby, scanning your change for that “S” mint mark is a rewarding experience.
FAQ
Q: Is a 1968-S penny made of real copper?
A: Yes! Pennies minted before 1982 are made of 95% copper and 5% zinc/tin. This makes them heavier and more valuable in metal content than the modern zinc pennies made today.
Q: Why does my 1968-S penny look shiny but it’s not a proof?
A: It could be an uncirculated “business strike.” These coins were not specially prepared like proofs, but they have never been spent, so they retain their original mint luster.
Q: Where can I sell my 1968-S pennies?
A: For common circulated coins, you can sell them to local coin shops or on eBay in bulk lots. For high-grade or error coins, professional auction houses or specialized coin forums are your best bet.
Q: What is the most expensive 1968-S penny ever sold?
A: A 1968-S Lincoln Penny graded at MS67 Red by PCGS sold at auction for nearly $3,000. Higher-graded coins are extremely rare because the 1968 dies were often overused, leading to “mushy” details on the coins.
