Avid coin collectors are always looking for the next valuable coin to add to their collection. Many factors determine whether a coin is worth being added to your collection or not. You may now be wondering whether there are any 1965 pennies worth hunting down and displaying for yourself.
It is worth it to know that 1965 pennies can be valuable. You should never judge a coin simply by face value, especially a 1965 coin. This guide will be telling you all you need to know about 1965 coins, their worth, and which ones are worth adding to your collection.
How much is a 1965 penny worth?
Typical 1965 Lincoln pennies are not worth much. A Lincoln Memorial penny is gauged to have had a mintage of 1,497,224,900. This means that most coin collectors would consider the coin common, therefore reducing its value.
However, the 1965 Lincoln penny coin is not so common at all in circulation. This is likely because the coins were made with mixes of copper. Two coins were made with 95% copper alloys while one was made with a 60% copper alloy.
Because copper is a semi-precious metal, it can lead to the presence of very valuable coins made with it. Having a coin be made of copper boosts coin values today by up to double the coin’s original value. That means that the average 1965 penny is worth about 2 cents, due to its copper nature.
You can check out this video to learn more about the worth of 1965 coins:
How much is an uncirculated, good condition 1965 penny?
An uncirculated coin will have a slightly higher value than typically circulated coins. For a 1965 coin, if the coin is in great condition and it is uncirculated, it can go for up to 30 cents. Coins that are in exceptional condition can go for much more, based on how great the quality is.
As far as 1965 pennies go, the highest value of these pennies to ever be auctioned was sold in 2012. This penny had a great demand among coin collectors due to its MS67RB grading. It sold for higher than many other coins with a price of 690 dollars.
What were coins made of in 1965?
The time between 1964 and 1965 marked a significant change in coin-making materials in the U.S. The U.S. Mint made a significant transition from majorly silver coins to more copper-incorporated coins. The coins for dimes, quarter dollars, and half dollars were all silver at the time.
In 1965, the coins for dimes and quarter dollars were changed to a mix of copper and nickel. Coins for half dollars were made of a mix of silver and copper to a 40:60 ratio.
1965 SMS Coins and their value
1965 was an eventful year in the history of the U.S. coin system. In that year, the Mint decided to embark on some changes, some of which will last for many years after, due to a coin shortage and other circulation issues. These changes meant that the coins produced that year were one of a kind.
The first change made was that a majority of silver coins were removed from circulation as mentioned above. The Mint also temporarily removed the mint mark on all U.S. coins that year. Finally, proof and uncirculated sets of coins were replaced with Special Mint Sets or SMS coins.
SMS coins were 5-coin sets that had proof-like surfaces. They were similar to proof coins and business-strike coins in some ways. Some of the features of SMS coins include:
- They were not double-struck like proof coins were.
- SMS coins usually had shinier surfaces than other coins.
- They were not placed in circulation but were made especially for distribution only in SMS sets.
- The coins were made using blanks and die created uniquely for them.
- There were only 2,360,000 SMS pennies made in total.
In their fresh state, 1965 SMS coins are distinct from other coins because their strike is sharper and they have a matte finish. However, if you come across a worn 1965 penny, it would be difficult to tell whether it was an SMS strike or a business strike with the naked eye.
With the use of a magnifying glass perhaps a coin collector would be able to tell what kind of coin a worn 1965 penny was. Despite this, a 1965 SMS penny would only be worth about 50 cents or a dollar.
The highest price that a 1965 SMS penny has gone for in mint condition was 4,140 dollars. Numismatic Guaranty Corporation graded the coin MS67 Red Ultra Cameo which solidified its value. The coin was sold in 2004,
What makes a 1965 penny rare?
One thing that makes a coin valuable is if it has an error or variety in its production. 1965 coins are no exception to this. Coins can sell for thousands of dollars if a coin collector needs a coin with that error or variety in their collection.
Coins with errors can even sell higher than coins in a mint state. Here are some errors to look out for in 1965 coins in particular. Coins with some of these errors can be found relatively easily among spare change or from banks while others are extremely rare.
1965 doubled die pennies
The doubled die penny is one of the most popular coin varieties. This is a coin variety that is created when there is an error in transferring the coin design onto the die. The error results in the hub making two impressions of the design on the die, either in different positions or angled.
It is called a doubled die and not a double die because of this. This type of coin error builds a lot of curiosity in collectors because of how intriguing they are. Rare doubled die coins can go for hundreds to thousands of dollars because of the collector’s interest.
Major doubled die coins are the highest priced among coins with errors because of how obvious the error is. For a popular or highly-priced doubled die coin, the doubling will have to be blatantly seen with the naked eye. This builds fascination around the coin which results in great demand for it.
The high demand for the coin results in a higher price because bidding would be high. Unfortunately, for 1965 coins, the demand for doubled die coins is not so high. This is because there are not any major 1965 pennies with major doubled die errors.
All hope is not lost though, because there are quite a few 1965 pennies with minor double die errors. These coins are still in high enough demand to go for a high price and make a great addition to a collection.
Some 1965 pennies with minor doubled die errors may have doubled lettering. This can include lettering on the obverse and reverse (head’s and tail’s sides respectively) being slightly doubled.
The trading price of a minor doubled die 1965 penny will depend on how rare the coin is, the state of the coin, and the magnitude of the doubling. Minor doubled die 1965 coins can go for as high as 50 dollars with the right conditions.
1965 BIE error pennies
Some people come across Lincoln pennies that have the letter “I” between the letters “B” and “E”. When you see this, your first thought may be that there was an error in the spelling of the coin. This phenomenon is an error, but not the kind that you think.
The “BIE” error comes about as a result of a small crack on the coin, right between the two letters. Some Lincoln coins may develop small, vertical die cracks that happen to fall in such an ideal spot on the coin that they end up looking like a capital letter “I”. Look out for these coins.
The “BIE” error was long thought to be an intentional joke put in by a mint employee looking to have some fun. We can see now that the true nature of the error is now known. The “BIE” error is unique to Lincoln coins and can be detected at face value.
A Lincoln coin with a “BIE” penny error is considered a collectible. This means it will cost more than the rest of the old pennies. “BIE” error coins can cost around 5 – 10 dollars each.
1965 pennies with die breaks
Die breaks are the explanation for why you sometimes find coins with raised lines that you cannot explain. A die break is also known as a die crack and can show up in coins in the form of raised lines of different sizes and shapes.
Die cracks in coins increase their value exponentially. This is especially true if the die crack is very large, or weirdly shaped.
Die breaks are formed due to the wearing down of the die striking of the coin. The coin begins to show its worn-down state through fissures in the die. The fissures, which are signs of damage to the die, translate onto the surface of the coin as bumps, raised lines, and oddly shaped lumps.
As the die of the coin continues to get further damage, the cracks continue to grow. A die break on a coin can grow very large and some coins even have multiple die breaks. As far as being a collectible goes, coins with bigger or more die breaks are much more valuable than coins in their mint state.
There are even a few types of die cracks that collectors look for specifically. Among the most popular of these is a die crack known as the die cud. A coin with a die cud has a large, raised line on its surface that is attached to the rim of the coin or connected to it in any way.
For 1965 pennies with die breaks, the trade price can vary a lot depending on the size and type of error. Coins with smaller bumps and lines will likely go for about 5 – 10 dollars. On the other hand, coins with large die cud error can go for more than 100 dollars with some collectors.
Wrong Metal Error coins
As mentioned earlier, the U.S. Mint made some significant changes to coin composition in 1965. This led to the transition away from silver coins to copper allow coins. Some of the coins made in this time were struck with some errors that make them valuable coins today.
The wrong metal error is a situation where the new coins that were meant to be struck on copper-nickel planchets were accidentally struck on the old silver planchets. This led to the formation of some very rare silver 1965 coins.
There are only a few of these coins around. In fact, collectors are still on the search to know if there are still any that haven’t been claimed. Among those that have been found include a 1965 silver dime that sold for over 4000 dollars and a 1965 silver quarter that was sold at an auction for over 7000 dollars.
Wrong metal error coins are very valuable and are in great demand by collectors. They are likely the rarest error to find so keep your eye out for them.
You can find out if your 1965 quarter dollar coin is silver or copper by using a scale that measures down to a hundredth of a gram. A 90% silver quarter should weigh about 6.25 grams while a copper quarter weighs about 5.67 grams.
How to Sell your 1965 Coin
Selling your 1965 coin is a good idea if you want to make some spare cash. Selling your coins can also help you get acquainted with coin communities around you. Here are some steps you can take in selling your 1965 coins:
Identify the date, denomination and mint mark of your coin
Since you already know that you coin is a 1965, the next step is finding the mint mark if it has one. The mint mark shows when the coin was minted and they can be hard to identify so you can consult with a dealer to help you.
Value and authenticate your coin
You can get a value for your coin using the Guide Book of United State Coins. After that, you can consult with a coin grading company to authenticate your coin. Some buyers or dealers will only buy coins that have been authenticated.
Visit coin shows
Coin shows are held in many cities where coin lovers and collectors meet up and display coins. Major cities often hold shows a few times a year for dealers to educate people on coins and help with valuing coins.
You can try visiting some coin shows before you sell your coin to get a feel for the community. A coin show is a great place to connect with dealers or collectors that may be interested in buying your coin.
Try out local coin dealers and shops
The first place you should try selling your 1965 coin is at a local coin dealer or coin shop. To get the best value for your coin, try to get a value from two or three dealers and decide who you want to sell to. You should also make sure you sell to a dealer that works with coins like yours, especially if you have a rare 1965 coin.
Sell your coin at an auction
An auction is a great place to sell if you have a large collection of coins. Auctions can be held physically at auction houses or virtually with online auctions. At auctions, you are likely to get higher prices for your coins due to bidding.
Places where you can get 1965 pennies
If you want to get access to your own 1965 coin, here are a few options you can check out.
This is an ideal place to get 1965 coins as many of them are still in circulation. There are online platforms that deal in converting currency and you can make use of one to get a 1965 coin. Platforms like Leftover Currency and Foreign Currency and Coin Exchange are currency converting platforms where you can get access to 1965 coins.
Some people put up their coins for sale online. This is one of the easiest and fastest ways to get access to the 1965 coin you might be looking for. You just have to search on online marketplaces.
The danger with this is that you run the risk of being sold a fake coin online. Platforms like Amazon, Etsy, or eBay may feature sellers with 1965 coins. Just make sure that you verify that the coin for sale is real and the seller is not a fraud.
There are also other online stores where you can buy coins such as GovMint.
Auction houses regularly hold auctions for coins. An auction house or a dealer is your best choice if you are looking for rare 1965 coins with errors. Coins sold in auctions can end up being very pricey.
An auction is a place where demand is escalated due to the competition of everyone trying to get a coin. Therefore, if you want to buy a coin at an auction make sure that you are prepared to spend the money, especially if it is a rare coin.
1965 was an interesting year for coin making. Many collectors will try to include many different 1965 coins in their collections for display. The worth of a 1965 coin depends on many things such as its grade, the errors it may have, and how well preserved it is.
The rarest 1965 coins have been recorded to sell for thousands of dollars while the most common 1965 coins can sell for less than a dollar. Even if you cannot get the coins with the rarest errors, coins with minor errors are still worth collecting and displaying in your collection.