1968-S Lincoln Penny Value: How Much Is Your Coin Worth?

The 1968-S Lincoln Penny is worth anywhere from $0.02 in worn condition to over $500 in high-grade proof condition. While most are common, certain rare strikes and high-grade specimens carry premium prices for collectors today.

Condition	Estimated Value Range
Circulated (Average Wear)	$0.02 – $0.05
Uncirculated (Mint State)	$0.15 – $15.00
Proof Strike (Deep Cameo)	$5.00 – $500.00+

Identifying the 1968-S Lincoln Memorial Penny

If you have found a penny from 1968 with a small “S” below the date, you are looking at a coin minted in San Francisco. This was an interesting year for the U.S. Mint because it marked the return of mint marks to coins after a three-year hiatus. To know if your coin is a hidden gem, using a top coin identifier and value app can help you distinguish between a common pocket change find and a valuable collector’s piece.

The 1968-S penny features the classic profile of Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse. Most of these coins were struck for general circulation, but San Francisco also produced proof coins specifically for collectors. Knowing the difference between a business strike and a proof strike is the first step in determining the 1968-S Lincoln Penny value.

When you use CoinKnow, you can simply snap a photo to see these fine details magnified. Most circulated coins will look brown and dull, reflecting their composition of 95% copper and 5% zinc. However, specimens that have original “red” mint luster are the ones that really drive up bidding prices at auctions.

Current Market Prices for 1968-S Pennies

The market for 1968-S pennies is split into two categories: those found in change and those preserved in mint sets. For the average person, a coin found in a jar is likely worth its copper melt value, which is slightly more than its face value. However, high-grade coins are a different story. You can find detailed 1968-S Red Lincoln Penny market data that shows how prices jump significantly as the grade moves from MS65 to MS67.

Because there were over 250 million business strikes and over 3 million proofs made in San Francisco that year, the coin isn’t “rare” in a general sense. The rarity comes from the condition. A “Red” (RD) coin is far more valuable than a “Red-Brown” (RB) or “Brown” (BN) coin. Collectors use these color designations to determine how much original mint orange glow remains on the copper surface.

Grade	Brown (BN)	Red (RD)
MS63	$0.20	$1.00
MS65	$1.50	$10.00
MS67	$25.00	$250.00

What Makes the 1968-S Proof Penny Valuable?

San Francisco is famous among collectors for its “Proof” coins. Unlike business strikes intended for vending machines and shops, proof coins are struck twice with specially polished dies. This gives the background (fields) a mirror-like finish and the design (devices) a frosted appearance. For a serious look at 1968 Lincoln Penny value info for proofs, you need to check for the “Cameo” or “Deep Cameo” effect.

A 1968-S Deep Cameo proof is highly sought after. In high grades like PR69, these can sell for hundreds of dollars because the contrast between the shiny background and the white frosted Lincoln is stunning. Most 1968-S proofs found today have some degree of spotting or oxidation, which lowers the price. Using CoinKnow can help you identify if your proof coin has the hazy “environmental damage” that often plagues coins stored in humid attics.

If you happen to find a proof set at a garage sale, check the penny. If the “S” mint mark is clear and the coin looks like it was minted yesterday, it could be a high-value item. Even a standard proof is worth more than a business strike because of the care taken during production.

Common Errors and Varieties to Watch For

Error coins are where the real money is made for the casual hunter. While the 1968-S doesn’t have a “major” famous error like the 1955 doubled die, there are several “minor” errors that add premium value. Look for things like “Die Cracks,” which look like raised lightning bolts on the coin’s surface, or “Repunched Mint Marks” (RPM).

An RPM occurs when the “S” was punched into the die more than once, creating a shadowed or doubled look on the letter “S.” Another common find is the “Clipped Planchet,” where the coin is missing a circular bite-sized piece out of the edge. These errors can turn a penny worth one cent into a coin worth $20 to $100 depending on the severity of the mistake.

Error Type	Estimated Value
Repunched Mint Mark (S/S)	$5 – $15
Off-Center Strike (10%+)	$20 – $50
Die Crack (Large)	$2 – $10

Does Condition Really Matter This Much?

In the world of coin collecting, condition is everything. A 1968-S penny that has been sitting in a pocket for fifty years will be worn down, with Lincoln’s hair smoothed over and the steps of the Memorial building invisible. These coins are graded on a scale of 1 to 70. Most coins found in circulation are graded “Fine” or “Very Fine,” which puts them near the bottom of the value scale.

Professional grading by services like PCGS or NGC can cost $30-$50 per coin. Therefore, you should only send a coin for grading if you believe it is in “Mint State” (MS65 or higher). Before spending money on professional services, utilize CoinKnow to get an initial assessment of your coin’s grade. If the app suggests your coin is exceptional, then the investment in professional grading might pay off.

The difference between an MS66 and an MS67 can be hundreds of dollars. At these top levels, the coin must be virtually perfect, with no scratches visible even under high magnification. For the 1968-S, “Red” color is mandatory for top-tier pricing. A brown coin, no matter how sharp the details, will almost never reach the high price points of its red siblings.

How to Store Your 1968-S Pennies

If you discover a 1968-S penny that looks particularly shiny or has a possible error, you must handle it correctly. Copper is a highly reactive metal. Fingerprints contain oils and acids that can permanently stain the coin surface, turning a “Red” coin into a spotted “Brown” coin within months. Always handle coins by their edges, never the faces.

For storage, avoid PVC plastic flips, as they can cause “green goo” corrosion. Instead, use PVC-free cardboard flips or airtight plastic capsules. This prevents air and moisture from reaching the copper. Proper storage ensures that your 1968-S Lincoln Penny value remains stable—or even grows—as high-quality copper pennies become harder to find in the wild.

Keeping your coins organized in a cool, dry place like a safe or a dedicated coin album is the best practice. By preserving the luster, you are preserving the history and the financial potential of your collection. Even if a penny is only worth a few dollars today, its value as a piece of American history is timeless.

Storage Method	Pros/Cons
Cardboard 2×2 Flips	Cheap, easy to label, but not 100% airtight.
Plastic Tubes	Best for bulk, but coins can rub against each other.
Airtight Capsules	Best protection for high-value Red coins.

FAQ Section

Q: Is a 1968-S penny rare?

A: Generally, no. With over 250 million business strikes produced, they are common in circulation. However, “Proof” versions and coins in “Gem Red” condition (MS67 and above) are considered rare and command high prices.

Q: What does the “S” mint mark mean?

A: The “S” stands for the San Francisco Mint. In 1968, San Francisco produced both regular pennies for circulation and special proof pennies for collectors.

Q: My 1968-S penny looks black or very dark. Is it valuable?

A: Most likely not. Copper pennies turn brown or black over time due to oxidation (exposure to air and skin oils). Collectors prefer “Red” pennies that still look like they just came from the mint.

Q: Are there any 1968-S pennies worth thousands of dollars?

A: The only 1968-S pennies that sell for thousands are those in near-perfect condition (MS67RD or PR70DCAM) or those with significant minting errors. These are highly unusual to find in regular pocket change.