The highest recorded sale of a 1968 penny is the MS66+ RD 1968-S penny that went for $5,000 in 2021 at Heritage Auctions. However, the most valuable coin in the lineup is the MS68 RD 1968-S penny, priced at a whopping $7,400.
The coin grade and several other factors contributed to the price of these late 1960s coins. To briefly touch on these, here are the main factors that make 1968 pennies valuable:
- The most valuable 1968 pennies are graded MS68 and above, all worth more than $7,000. MS67 coins are drastically less profitable, worth $150 – $550.
- Rare mint errors increase the value of 1968 pennies to more than $2,000 if the error is unique and rare. Common errors are worth much less, usually between $20 – $150.
- The only Proof coins worth more than $100 are graded PR69 or higher.
Read on to dive into the value of 1968 pennies and how several factors like mint errors, demand, and varieties make these coins more collectible.
1968 Penny Value Summary
Below is the 1968 penny value chart, arranged based on grade condition and strike:
| 1968 Penny and Coin Grade | 1968 No Mint Mark Penny (MS) | 1968 D Penny (MS) | 1968 S Penny (MS) | 1968 S (Proof) Penny (PR) |
| 60 | $2 | N/A | N/A | $3 – $4 |
| 61 | $3 | N/A | N/A | $4 – $5 |
| 62 | $4 | N/A | N/A | $5 – $6 |
| 63 | $2.50 – $8 | $6 – $8 | $3 – $5 | $8 – $12 |
| 64 | $5 – $14 | $10 | $8 | $10 – $14 |
| 65 | $10 – $20 | $14 – $16 | $10 – $14 | $12 – $15 |
| 66 | $15 – $45 | $20 – $28 | $22 – $25 | $14 – $20 |
| 67 | $525 | $350 – $410 | $175 – $300 | $16 – $35 |
| 68 | N/A | N/A | $7,400 | $18 – $100 |
| 69 | N/A | N/A | N/A | $70 – $1,650 |
| 70 | N/A | N/A | N/A | N/A |
Note:
- The N/A in columns without a price guide does not mean the coins are rare. Instead, it shows there isn’t enough data or coins to publish an average price estimate.
- The grades (60 – 70) represent the particular coin’s grading prefix, i.e., MS60-MS70 for Regular Strike coins and PR60-PR70 for Proof pennies.
1968 Lincoln Penny Background
1968 pennies were produced in the three U.S. mints – Philadelphia (P), Denver (D), and San Francisco (S). Below are the mint varieties:
- 1968 Penny No Mint Mark– made in Philadelphia (P) but these pennies do not feature the ‘P’ mint mark.
- 1968 D Penny – made in Denver featuring the ‘D’ mint mark.
- 1968 S Penny – made in San Francisco featuring the ‘S’ mint mark.
- 1968 S (Proof) Penny – these are Proof strike coins, made specifically for collectors and numismatic purposes. They feature an ‘S’ mint mark denoting the San Francisco mint.
Below are the coin’s mintage and metal composition:
| Coins | Mint | Total Mintage | Metal Composition |
| 1968 No Mint Mark Pennies | Philadelphia | 1,707,880,970 | 95% Copper, 5% Zinc & Tin |
| 1968 D Pennies | Denver | 2,886,269,600 | 95% Copper, 5% Zinc & Tin |
| 1968 S Pennies | San Francisco | 258,270,001 | 95% Copper, 5% Zinc & Tin |
| 1968 S Pennies (Proof) | San Francisco | 3,041,506 | 95% Copper, 5% Zinc & Tin |
Other features you may find interesting about these pennies:
- Series: Lincoln Cents, Memorial Reverse
- Obverse (heads) design: Features Abraham Lincoln’s bust facing the right.
- Reverse (tails) design: Features the Lincoln Memorial building and a tiny figure of Lincoln at the center of the Memorial.
- Weight: 3.11 grams
- Diameter: 19.00 millimeters
- Edge: Smooth/Plain
- Face Value: $0.01
What Makes for A Rare 1968 Penny?
With a mintage of, the 1968 pennies are generally not rare. However, in the collectors’ market, a few 1968 pennies are highly sought after making them a rare bunch that can fetch from a few dollars to thousands of dollars.
Here are the specific factors that make a rare 1968 penny:
1. Coin Grade
The highest-graded coins are the most valuable. Also, the higher you go on the Sheldon Scale, the rarer the coins become, making them highly collectible among enthusiasts.
However, the grades are vast and widely spaced. To get the most value out of your 1968 pennies, ensure you look for the following two grade categories that contain the most valuable pennies:
- MS (60 – 70) – stands for Mint State and is the scale that denotes the condition of uncirculated business coins from grades 60 to 70. 70 is the highest grade.
- PF (60 – 70) – stands for Proof and is the scale used to denote grades of Proof uncirculated coins. These coins have the most pristine & lustrous elements.
PR69 coins are worth more than $100 and are often sold for $700 -$1,000. They are rarer and hard to find but not as rare as MS68 pennies which are worth $7,000 or more.
2. Mint Errors
Mistakes that happen during the production of coins lead to the creation of mint errors. These errors are differences in the pennies’ appearances, and the rarer the error the more valuable the coin becomes.
The 1968 pennies did not feature any highly-coveted rarer errors. Instead, they have common errors like ‘Wrong Planchet’ and ‘Double Struck’ struck, both worth more than $100.
What makes the 1968 pennies unique is their variety. This year included three distinct variations: DDO, DDR, and RPM varieties, all of which have fetched more than $140 in the open market.
3. Demand & Trends
Despite having lower grades, some 1968 pennies have sold for thousands of dollars due to the period in which they were auctioned.
The coin’s value will fluctuate depending on the market trends and the best way to keep an eye on this fluctuation is by visiting price guides on coin certification third parties like PCGS and NGC.
You can also check the value of the penny using our free online coin valuation tool.
1968 Penny Value: By Type
Here is the value of each 1968 penny based on the four mint categories:
1. 1968 Penny No Mint Mark Value
The highest known grade is the MS67, worth $500 according to PCGS. MS68 or higher grades do not exist.
On the other hand, the most common Mint State coins are MS64 – MS66, worth $14 – $45.
Note that 1968 no mint mark pennies are worth more than $500 only when they have rare and unique mint errors. Their evaluation also increases if you decide to sell them at auctions like Heritage Auctions. Below are some of the highest auction records:
Highest auction records for the 1968 penny no mint mark:
| Grade | Price | Firm | Sale Date |
| MS67+ RD | $3,360 | Heritage Auctions | 2023 |
| MS67+RD | $2,880 | Stack’s Bowers | 2018 |
| MS67 RD | $2,300 | Bowers & Merena | 2008 |
| MS67 RD | $1,840 | Bowers & Merena | 2010 |
| MS67 | $1,400 | David Lawrence RC | 2012 |
2. 1968 D Penny Value
1968-D pennies in their highest available grade (MS67) are worth $400. The price increases with errors and the demand in the market at the time, however, typically the 1968-D penny will be the least valuable in this lineup.
The pricing is not different from 1968 no mint mark penny. There are no known MS68 or higher-graded coins known to exist today. MS67 Red coins are the most pristine and have been sold on auction for more than $1,000.
MS60 – MS65 pennies are less than $20 and any other grade below MS60 is considered low-value, only worth the coin’s face value.
Highest auction records for the 1968-D penny:
| Grade | Price | Firm | Sale Date |
| MS67 RD | $2,300 | Bowers & Merena | 2008 |
| MS67 RD | $1,840 | Bowers & Merena | 2010 |
| MS67 RD | $1,116 | Heritage Auctions | 2013 |
| MS67 RD | $969.38 | Heritage Auctions | 2014 |
| MS67 RD | $881.25 | Heritage Auctions | 2013 |
3. 1968 S Penny Value
According to the US Coin Book and Greysheet Price Guides, the 1968-S pennies are worth $0.50 – $122. PCGS and NGC price this type between $1 and $7,400, making it the most valuable of all three regular business strike coins.
This shows that the S-pennies are the most popular among collectors. Their unique mintmark makes them highly collectible despite having the same condition as the D and No Mint Mark pennies.
Highest auction records for the 1968 S penny:
| Grade | Price | Firm | Sale Date |
| MS66+ RD | $5,000 | eBay | 2021 |
| MS67+ RD | $3,995 | Heritage Auctions | 2015 |
| MS67+ RD | $2,585 | Heritage Auctions | 2016 |
| MS66 | $2,300 | Heritage Auctions | 2009 |
| MS67 | $1,208 | Scotsman | 2003 |
4. 1968 S (Proof) Penny Value
According to the Greysheet price guide, the value of 1968-S proof coins is between $0.50 in the lower grades and as high as $1,020 in the highest grades.
You can purchase a whole set (8 coins) of the 1968 S proof pennies with varying grades for about $150.
If you want the four-coin set (with dimes, cents, nickels, and quarters), then you can buy a full 1968 S Proof Set from U.S. Mint for less than $20. The same set is available for less than $15 on eBay.
Highest auction records for the 1968 S penny:
| Grade | Price | Firm | Sale Date |
| PR69 DCAM | $3,795 | Heritage Auctions | 2002 |
| PR69 DCAM | $2,990 | Heritage Auctions | 2002 |
| PR69 DCAM | $2,400 | Heritage Auctions | 2021 |
| PR69 DCAM | $1,897.50 | Heritage Auctions | 2004 |
| PR69 DCAM | $1,782.50 | Heritage Auctions | 2003 |
1968 Penny Error List & Varieties
Below are some 1968 no mint mark penny and 1968 D penny errors. The focus is on rare 1968 penny errors rather than common, more popular errors.
1. 1968-D Double Die Reverse Error
A variety is an error term given to coins that feature intentional or unintentional variations that are highly pronounced. In this case, the DDR variety was a variation that happened in the Denver mint where pennies were minted with a Double Die Reverse error.
The 1968-D DDR coins features a noticeable doubling on some lettering and design details on the reverse side of the coin. An example is this is the MS66+ RD graded coin that sold for $2,880 in 2023.
2. 1968-S (Proof) Penny Double Die Obverse Error
Another variety is the DDO error found in the 1968-S Proof coins.
Double Die Obverse (DDO) is similar to DDR errors but on the opposite side; doubling of letters and design elements can be seen on the coin’s obverse side.
You can easily find these coins on eBay and online auctions for about $100 – $450. Some have sold for more than $500 including this PR68 coin that fetched $517 in 2015.
3. Double Struck error
A “Double Struck” error occurs when a coin is struck twice, resulting in overlapping or shifted design elements.
An example is the ‘Double Struck’ PR65 Red coin sold for $4,312.50 in 2008 at Heritage Auctions.
4. Wrong Planchet Error
‘Wrong Planchet’ Errors occur when coins are mistakenly struck on blanks (planchets) intended for different types of coins. As a result, the struck coins feature different design elements intended for the other type of coin.
An example of this error in the 1968 penny is with this ‘On a Dime Planchet’ PR63 coin sold for $2,760.
The fact that this error happened on a Proof coin makes this an extremely rare coin. Such errors rarely occur in Proof coins since they are inspected thoroughly before shipping.
Also, Proof coin mintage is so low which makes it harder for such errors to happen in the small-scale space.
Another such example is this ‘Struck on Dime Planchet’ PR65 coin sold for $2,185. This penny was struck using a dime blank instead of a cent blank.
The resultant coin has the same weight and color as a dime but the design elements are that of a 1968 S penny.
Also, since dime planchets have smaller diameters than pennies, the coin appears spread thinly and squeezed at the furthest ends due to the bigger penny dies striking smaller dime planchets.
5. 1968-D/D Repunch Mintmark (RPM)
This is a variety of the 1968-D penny. It is a major variation that happened in the Denver mint resulting in many pennies coming out with re-punched ‘D’ mintmarks.
The RPM error occurred when the ‘D’ mintmark was punched into the penny die more than once resulting in a ‘D’ mintmark that appears ‘repunched’. The mintmark will often look slightly overlapped with other ‘D’ marks or as if it was repositioned with other underlying impressions.
On eBay and other online marketplaces, 1968-D/D RPM coins are worth $100 – $250. Examples in MS65 condition have realized $228, with a similar grade selling for $180 in 2021, making them accessible but collectible mint errors.
Conclusion
1968 pennies are not the most valuable cents among the Lincoln Pennies. However, if you want the most profit out of owning one, then you should invest in selling and buying 1968 pennies with grades PR69, MS68 or above.
Mint errors on these coins will also increase their value by the thousands.
