1962 Lincoln Penny Value: How Much Is It Worth?

Lincoln Penny Design

This coin was designed by Victor David Brenner. This design debuted in 1909 for Lincoln’s 100th birthday and remained largely unchanged through 1962.

What changed is the reverse. Before 1959, Lincoln cents, like the 1947 penny, featured wheat stalks on the reverse. A new design by Frank Gasparro introduced the Memorial building.

a 1962 Lincoln penny, featuring the president and the Memorial building.

Obverse (front): A right-facing bust of Abraham Lincoln, the 16th President of the United States. The inscription "IN GOD WE TRUST" runs along the top rim. The word "LIBERTY" is to Lincoln’s left. The date "1962" is to Lincoln’s right. If there's a mint mark, it appears just below the date.

Reverse (back): The Lincoln Memorial building in the center. You’ll find the inscriptions "UNITED STATES OF AMERICA" and "E PLURIBUS UNUM" above. The denomination "ONE CENT" is below.

Lincoln Penny Overview

The piece has had a long mintage from 1909 to this very day! Of course, there were different editions with different designs and material compositions. We will focus on the Memorial series, represented by the 1960 Lincoln penny, your 1962 piece, and others.

The main characteristics of the 1962 Lincoln cent
Country	United States
Years of Minting	1959-2008 (Memorial reverse)
Type:	Standard circulation
Shape:	Round
Composition and metal content	Bronze (95% Copper, 5% Zinc)
Diameter	19 mm
Weight	3.11 grams
The Mints	United States Mint of Denver, United States Mint of Philadelphia

Lincoln Penny Varieties

The 1962 Lincoln cent (penny) has two main mint mark varieties, based on where it was minted:

1962 (No Mint Mark): Minted at the Philadelphia Mint.
1962-D (D Mint Mark): Minted at the Denver Mint.

Some collectors also distinguish proof coins. Proofs are high-quality pieces made for collecting and not circulation.

There’s also one variety people think exists, but it doesn’t. 1962 silver penny. The real 1962 piece is copper-based, like many coins of that era. In the past, there were many silver pieces like the 1943 Mercury dime, but due to economic changes, the US Mint switched to copper.

1962 Penny No Mint Mark Value

Look for: There should be no mint mark under the date.

Mintage: 606,045,000.

Estimated Value: $0.15 – $20+. 1962 penny value no mint mark is generally low.

1962 no mint mark penny follows the same tradition that many Philadelphia-minted pieces had. It has no mint mark, because for a long time the Philadelphia mint was the main minting facility, and everyone assumed the coins came from their presses.

1962 D Penny Value

Look for: There should be a “D” mint mark under the date on the obverse.

Mintage: 1,793,148,400.

Estimated Value: $0.10 – $20+. The 1962 penny value D is similar to no mint marks. It might be lower due to a big mintage.

1962 penny D has the biggest mintage among its counterparts. Usually, the Philadelphia mint makes the most coins, but in the beginning of the 60’s, Denver made more.

1962 Proof Penny Value

Look for: Has no mint mark. Highly detailed and features cameo or deep cameo contrast.

Mintage: 3,218,019.

Estimated Value: $12–$60+. 1962 proof penny value is the highest compared to other varieties.

Most proof coins come from the San Francisco mint and bear its signature “S” mark, but these proofs were made in Philadelphia and have no mark.

Penny Grading

What is the most important contributor to the coin's value? Grading. Grading is determined for most pieces by the Sheldon Scale from 1 to 70. The higher the score, the higher the value.

Grade	Abbreviation	Description
Poor	P-1	Barely identifiable, nearly flat because the details eroded.
Fair	FR-2	Major details are visible, but overall heavily worn.
Good	G-4 to G-6	The outline of Lincoln’s portrait is visible, worn flat.
Very Good	VG-8 to VG-10	Letters are readable, with moderate wear.
Fine	F-12 to F-15	Hair and ear are visible, but still have wear.
Very Fine	VF-20 to VF-35	Moderate details can be distinguished; most letterings seem bold.
Extremely Fine	EF/XF-40 to XF-45	Light wear on high points, but overall easily distinguishable.
About Uncirculated	AU-50 to AU-58	Small traces of wear on high points.
Mint State	MS-60 to MS-70	No wear, higher grades have better luster, strike, and fewer marks.
Proof	PR-60 to PR-70	Special strike for collectors, sharp details, mirror-like fields.

Copper pieces like Lincoln cents have an additional grading according to their colour. Copper often loses its vivid coloration when it's exposed to the air for a long time. Vibrant pennies are worth more than the dull ones.

BN (Brown): The coin has turned mostly brown due to oxidation.
RB (Red-Brown): Mix of red and brown; transitional color.
RD (Red): Coin has retained full original copper-red luster (most valuable).

One more value factor is the presence of errors.

1962 Penny Error List

We like to think that errors are something bad, but it’s the other way for coinage. Coins with errors are more valuable than normal ones. This list will show some of the most important or common errors and how they affect the value.

Off-Center Strike

Look for: A portion of the design is missing, shifted toward one side.

Estimated value: $10–$50+ depending on the shift.

Error cause: The coin blank (planchet) wasn't properly centered during striking.

BIE Error

a Lincoln penny with a blob in the "LIBERTY" inscription.

Look for: A raised line or blob between the "B" and "E" in the inscription "LIBERTY".

Estimated value: $5–$15.

Error cause: A small die break between the B and E in LIBERTY, creating what looks like an “I”.

This error is less frequent than off-centers, but still common enough. Might be tricky to find, so use collecting supplies for magnification.

Doubled Die (DDO or DDR)

a Lincoln penny with doubled lettering on the reverse.

Look for: Doubled letters at the inscriptions(“LIBERTY”, “IN GOD WE TRUST”, etc) or the date.

Estimated value: $100–$500+.

Error cause: A misalignment between hub impressions created a doubled image on the die.

Double dies are always favoured by collectors.

Repunched Mint Mark (RPM)

a Lincoln penny with a repunched mint mark.

Look for: Look for doubling or shadowing of the "D", usually to the north, south, east, or west of the main D.

Estimated value: $20–$100+.

Error cause: The mint mark (D for Denver) was punched into the die by hand, and sometimes it was misaligned and punched again, creating a "doubled" mint mark.

This error is exclusive for D-marked pennies, because the Philadelphia release has no mint marks to be doubled. This error is moderately valuable and proudly stays in the 1962 D penny error list.

1962 Penny Value

Time to see 1962 penny worth. Does it live up to the legacy of the Lincoln series?

Coin Type	Condition / Grade	Value (USD)
1962 (No Mint Mark)	Circulated (XF–AU)	Face value (1¢)
	Uncirculated (MS60–MS62)	$0.15 – $0.25
	MS63 Red (RD)	$0.50 – $1.50
	MS65 RD (Certified)	$20 – $25
	MS66 RD or higher	$25 – $100+
1962-D (Denver)	Circulated (XF–AU)	Face value (1¢)
	Uncirculated (MS60–MS62)	$0.10 – $0.25
	MS63 Red (RD)	$0.50 – $3
	MS65 RD (Certified)	$3 – $20
	MS66 RD or higher	$34 – $75+
1962 Proof	Proof (PR65 RD)	$12+
	PR67 RD	$26+
	PR67–PR69 DCAM	$26 – $300+

No mint marks and D varieties have mostly similar values. The proof pieces are worth more due to their excellent condition and a low mintage.

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1962 Lincoln Penny: Value, Errors, and Double Die Guide

Contents:

Lincoln Penny Design

Lincoln Penny Overview