Amidst a Transition: The Fate and Value of the Penny 1959

1959 was a very special year. A penny, i.e., a relatively stable, classic denomination became the symbol of a new era of American coinage. That year, the Lincoln penny, the founding piece of the US currency, was finally redesigned, shifting from the prominent Wheat design to a representation of the Lincoln Memorial on the reverse. Nevertheless, more details should be mentioned about this peculiar coin. 

So, why is this specific penny so important, and why does it still appeal to both casual collectors and numismatists alike? Delve into the historical background of the 1959 pennies, learn more about their main characteristics so as to know how to identify these coins on the spot, and explore their value should you seek them out.   

A Penny or a Lincoln Cent: A Bit of History 

Since its debut in 1909, the penny, officially known as the Lincoln Cent thanks to its appearance, took the center of the American numismatic stage. A renowned sculptor Victor David Brenner created the coin to mark the 100th anniversary of Abraham Lincoln's birth. With two wheat stalks on the reverse and an image of the 16th president on the front, it soon came to represent the nation's reverence for Lincoln's legacy.

For almost 50 years, the Wheat Reverse penny served as the standard form of coinage, beloved for its simple yet meaningful design. The US Mint, however, made the decision to redesign the penny in the late 1950s (a few years before the 1969 Penny was minted, in response to a rising demand for a more contemporary appearance. In addition to commemorating Lincoln's legacy, this alteration would mark his connection to the development of the country, and this is how the Lincoln Memorial design appeared. 

Key Features of the 1959 Penny 

Like any other coin, the 1959 has its own distinctive features that define its position in the numismatic market. All in all, let us take a look at what may distinguish this coin from other creations.

Design Details

Obverse: As we have mentioned before, Victor David Brenner's well-known image of Abraham Lincoln remained on the 1959 penny's obverse (i.e., the front side). Since its first appearance on the penny in 1909, Lincoln's picture has never been changed, which makes it one of the most recognizable faces on American currency.

Reverse: In 1959, there was developed a new reverse design that featured the Lincoln Memorial, and it was the most noticeable modification of all. This new reverse, which was designed by Frank Gasparro, featured Lincoln sitting in the middle of the memorial and showed the iconic building in Washington, D.C. 

Mint Locations and Quantities

As usual, the 1959 was struck at three main facilities in the US, i.e., in Philadelphia, Denver, and San Francisco (for Proof coins). The Denver mint introduced a "D" mintmark, the Philadelphia mint produced coins without a mintmark at all (these are called “1959 penny no mint mark”), and the San Francisco mint produced Proof coins, which were issued in specially packaged sets.

The main part of more than 1.5 billion 1959 pennies that were produced in total were actually struck at the Philadelphia Mint. This is why the coin is comparatively common, but its design transition rather than its rarity is what makes it significant for sure.

Metal Composition

In fact, the composition of the 1959 Lincoln penny was the same as it had been since 1909, i.e., 95% copper, 5% tin, and zinc. And yes, the penny was aesthetically unique due to the copper's rich, reddish-brown color and reputation for durability.

This composition would not change until 1982 when the US Mint decided to lower expenses and use zinc as the primary metal for penny production. Thus, before these notable shifts in the composition of metal occurred, the 1959 penny belonged (and still belongs) to a time of traditional coinage. But how much is a 1959 penny worth?

1959 Penny Value and Rarity

The problem of how significant a coin is to be usually appeals to a few factors. The 1959 penny worth and rarity can vary depending on a number of circumstances, including its condition, mintmark, any potential errors and deviations, and unusual versions (even though some of them are extensively circulated and not rare in regular circulation). 

Related article: 1945 Wheat Penny Value Guide.

General Value of 1959 Penny

Circulated Condition: In most cases, a 1959 penny that is found in circulation is often worth its face value of one cent and no more. Because of their mass production, these pennies are rather common and are not considered desirable whatsoever.

Uncirculated Condition: Based on its exact grade (granted by numismatic authorities like PCGS or NGC), a 1959 penny in uncirculated or mint state condition (marked MS-60 or higher) might be worth $1 to $2 or more. These can usually be found in rolls of uncirculated coins or in coins that were kept in a safe place when they were first issued.

Do Mintmarks Affect the Value?

A 1959 penny's mintmark may have a great impact on its value, as we have briefly covered before. For instance, the most common version usually comes from the Philadelphia Mint, and it has the lowest value of them all. So, are 1959 pennies worth anything? Yes, but not as much as you might have expected. 

Rare Varieties (1959 Penny Error List)

Double Die Obverse: One of the most notable 1959 penny errors is a double die strike, in which the date and inscriptions on the obverse are conspicuously doubled. 

Off-Center Strikes: When the design is not correctly aligned during the minting process, this is another possible problem collectors find valuable. Hence, this can be beneficial, especially if the error is severe and apparent.

1959 Proof Pennies

What is a 1959 penny worth if it is a proof version? It is an open secret that proof coins may be the most expensive options presented by the mint (apart from errors and those coins influenced by the collector’s demand). In this case, it is also true. The value of an excellent-graded Proof 1959 cent (PR-65 or better), for example, can range from $5 to $20 or more.

Summary of Value Ranges

Circulated 1959 penny (all varieties): Face value or slightly more ($0.01–$0.25).

Uncirculated 1959 penny: $1–$2 or more.

1959 S Proof penny: $5–$20 or more.

1959 error coins: Range from $10 to hundreds of dollars.

Collecting the 1959 Penny: How? 

For those who value the background and design changes of US coins, collecting the 1959 penny can be a fulfilling and fun experience indeed. What should you take into consideration? Let us see.

1. Start with the Basics

Your 1959 penny condition will have a great impact on their worth and appeal. Remember that coins are graded according to how well the details are maintained and how worn they are. So, discover how to grade coins with the use of the Sheldon scale, which goes from Mint State (MS-70) to Poor (P-1). Since they will be more accessible and less expensive, start with gathering lower-grade circulated pennies and then eventually advance to better-quality proof or uncirculated coins.

2. Organize Your Collection by Year and Mintmark 

One 1959 cent from each of the following mintmarks might make up a basic collection. If you are a professional numismatist who is interested in uncirculated or proof coins only, you might want to start with these higher-grade options.

3. Employ Coin-Collecting Apps

So as to explore the 1959 pennies worth money, it might be reasonable to appeal to a reputable coin assistant such as Coin ID Scanner or the like. These usually offer a few significant features for one to catalog and track the collection they own, access relevant price guides, explore educational resources, identify coins by photos, and communicate with the community no matter where you are and who you are. A great resource for learning more about your 1959 pennies. 

Coins are valuable, but their value may be not of financial interest. So, do not look at those who strive to obtain the most expensive piece (unless you would like). Why not create a collection of your dreams?

Sources: 

1. https://www.pcgs.com/coinfacts/coin/1959-1c-rd/2854 

2. https://www.usmint.gov/learn/coins-and-medals/circulating-coins/penny?srsltid=AfmBOorh2nfTqqRLRvDcNWP9sHgCbkd1FxgiCvXkLrXjzo9qr6Xq88IG