The 1963 Lincoln penny might seem like an ordinary coin, but if you take a closer look, you’ll see why it holds a special place in the hearts of coin collectors. In this guide, we’ll break down its value, composition, and history, making it easy for anyone to understand.
What is the 1963 Lincoln Penny Made Of?
The 1963 Lincoln penny is composed of 95% copper and 5% tin or zinc, following the same formula used from 1909 until 1942, and again from 1944 to 1982. After 1982, pennies started being made mostly of zinc with a thin copper coating. This change was made because copper became too expensive to use for everyday coins.
A Little History of the Lincoln Penny
First introduced in 1909, the Lincoln penny originally featured two stalks of wheat on the back, earning it the nickname “wheat penny.” This design was used until 1958, when it was replaced with the Lincoln Memorial on the reverse side.
The 1963 penny carries this Lincoln Memorial design, which stayed until 2010, when it was swapped for the Union Shield design by artist Lyndall Bass.
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Key Specs of the 1963 Lincoln Penny:
- Value: 1 cent
- Mass: 2.5 grams
- Diameter: 19.05 mm
- Edge: Plain
- Designer: Victor David Brenner (obverse), Frank Gasparro (reverse)
- Composition: 95% copper, 5% tin/zinc
The penny’s design also includes “In God We Trust” inscribed above Lincoln’s head, “LIBERTY” to his left, and the year “1963” to the right.
The Story Behind the Initials “VDB”
When the Lincoln penny debuted in 1909, the designer Victor David Brenner added his initials (VDB) prominently on the coin. However, the initials were considered too large and distracting, leading to their quick removal. They were reintroduced in 1918, but in a much smaller size.
Interestingly, Brenner wasn’t even the first pick to design the penny. Augustus Saint-Gaudens was originally chosen but passed away in 1907 before completing the design. Brenner then took on the task, leaving a legacy with one of the most iconic coins in U.S. history.
Varieties of the 1963 Lincoln Penny
There are three main varieties of the 1963 Lincoln penny, along with some rare error versions that can fetch a high price:
1963 D Lincoln Penny (Denver Mint)
- Over 1.7 billion pennies were minted here.
- Value: $0.01 to $7.00 (can go higher in mint condition).
1963 P Lincoln Penny (Philadelphia Mint)
- Around 754 million pennies were made at this mint.
- Value: $0.01 to $9.00, depending on the condition.
1963 Proof Lincoln Penny (Philadelphia Mint)
- Proof coins are shinier and more detailed, made especially for collectors.
- Value: $0.01 to $7.00, with rare coins fetching up to $25.
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What Makes Error Pennies Special?
Because billions of pennies were produced in 1963, some coins were bound to have errors. These “error coins” are highly sought after by collectors due to their rarity. Common types of errors include:
- Mechanical failures during minting
- Misaligned dies
- Double-struck coins (where the design is stamped twice)
- Foreign materials getting mixed into the metal
Even small, barely visible errors can make these coins significantly more valuable.
How Much Is a 1963 Lincoln Penny Worth Today?
For a standard 1963 Lincoln penny in circulated condition, the value is usually close to its face value of 1 cent. However, if your penny is in mint condition, it could be worth more. The melt value, which is based on the metal content, is around $0.0251—so not much for melting down.
That said, some rare, high-grade 1963 Lincoln pennies have sold for significant amounts. For example, a 1963 Lincoln penny in MS-67 (an almost perfect mint condition) was auctioned for as much as $2,820 in 2013.
Grading Your Lincoln Penny
Coins are graded on a scale called the Sheldon Scale, which ranges from Poor (P-1) to Perfect Mint State (MS-70). The higher the grade, the more valuable your coin can be. Here’s a quick look at the most common coin grades:
- P-1 (Poor): Almost unrecognizable, likely damaged.
- G-4 (Good): Very worn, but some design elements are still visible.
- F-12 (Fine): Worn, but with clear details.
- EF-40 (Extremely Fine): Light wear, with most details visible.
- MS-60 (Mint State): No signs of wear, but not a particularly attractive coin.
- MS-65 (Mint State Choice): Great shine with minimal contact marks.
- MS-70 (Mint State Perfect): Absolutely flawless under magnification.
If your 1963 penny is graded at MS-65 or higher, you might be looking at a coin worth much more than just a penny!
Where Can You Buy or Sell 1963 Pennies?
If you’re interested in buying or selling 1963 Lincoln pennies, there are plenty of options available. Online platforms like eBay, Amazon, and Etsy are great places to find rare coins. You can also check out social media marketplaces like Facebook, or visit local coin shops, antique stores, and auction houses.
For serious collectors, coin grading services like PCGS or NGC can give you a more accurate estimate of your coin’s value.
Ethan is a passionate rare coin collector with years of experience uncovering the stories and history behind unique coins. His insightful articles are a go-to for anyone curious about coin values or their fascinating backstories.