1962 Penny Value Guide: Errors, ‘D’ & No Mint Mark Prices

The 1962 penny, commonly referred to as the Lincoln penny, might seem like an ordinary coin at first glance—but some examples can be worth much more than their face value.

In this breakdown, we’ll explore the 1962 penny value, what factors influence its price, and take a quick look at its background and design.

Below is a value chart showing estimates based on coin type and grade. All prices are for coins with a red (RD) designation, which are the most desirable among collectors:

1962 Penny Value

Mint MarkMS63MS65MS67
1962 (No Mint Mark – Philadelphia)$7$18$350
1962 D (Denver)$3$20$1,100
Proof TypePR63PR65PR67
1962 Proof (No Mint Mark)$7
Cameo: $12
$12
Cameo: $18
$22
Cameo: $30
Deep Cameo: $35

These values can increase significantly if the coin is exceptionally well-preserved or features unique characteristics such as Cameo or Deep Cameo contrast.

History of the 1962 Penny

The 1962 Lincoln penny continued a long-running coin series that first began in 1909, commemorating the 100th anniversary of Abraham Lincoln’s birth.

While it may seem unusual that a former president appeared on the smallest denomination, the Lincoln cent marked a turning point in U.S. coinage. Before 1909, it was considered inappropriate to feature real individuals on American coins. Instead, allegorical figures like Lady Liberty dominated designs. But as Lincoln’s centennial approached, public opinion shifted in favor of honoring the revered 16th president.

Thus, the Lincoln penny was born, featuring a profile of Lincoln on the obverse—a design that has largely remained unchanged. The reverse, however, has seen a few updates over the decades. The first version (1909–1958) displayed two wheat ears, earning it the nickname “Wheat Penny.” In 1959, to mark Lincoln’s 150th birthday, the reverse design was updated to show the Lincoln Memorial, which is also present on the 1962 coin.

The 1962 penny stands out for one more reason: it was the last year the U.S. cent was struck using the bronze alloy of 95% copper, with the remaining 5% composed of tin and zinc. Later in 1962, the tin was removed from the alloy, leaving only zinc to accompany the copper. This resulted in a brass composition, sometimes referred to as “gilding metal.” The shift, authorized by Congress in September 1962, was intended to improve minting efficiency while maintaining durability.

Features of the 1962 Penny

The Obverse of the 1962 Penny

The 1962 penny features the familiar portrait of Abraham Lincoln, a design that remains virtually unchanged on modern cents. This iconic image was created by Victor David Brenner, a sculptor originally from Lithuania (then part of the Russian Empire), who moved to the United States in 1890 and later trained in Paris.

Brenner’s depiction of Lincoln is not only his most famous work but also the longest-running design in U.S. coinage history. However, his experience with the Mint wasn’t smooth. He initially wanted to sign the portrait, which was rejected. He then proposed placing his initials on the reverse—a compromise that was accepted but quickly met with backlash, as many believed the initials were too prominent.

Due to the controversy, the Mint removed the initials entirely, ignoring Brenner’s objections. It wasn’t until 1918 that his initials, “VDB,” were restored—this time discreetly placed on the obverse, at the cutoff of Lincoln’s shoulder, where they remain on coins like the 1962 cent.

Other familiar elements of the design include:

  • “IN GOD WE TRUST” inscribed along the top edge
  • “LIBERTY” to Lincoln’s left
  • The date to his right
  • A “D” mint mark below the date for coins struck in Denver
  • No mint mark for coins struck in Philadelphia

The Reverse of the 1962 Penny

The reverse of the 1962 penny features the Lincoln Memorial in Washington, D.C., a design first introduced in 1959 to commemorate the 150th anniversary of Abraham Lincoln’s birth. This replaced the earlier design of two wheat ears that had appeared on pennies since 1909.

If you examine the coin closely, you’ll notice a tiny depiction of Lincoln’s statue inside the Memorial—making this one of the few U.S. coins to portray the same person on both sides.

Key design elements on the reverse include:

  • The denomination “ONE CENT” prominently displayed beneath the Memorial, curved to follow the coin’s edge
  • The motto “E PLURIBUS UNUM” above the Memorial in smaller letters, meaning “Out of many, one”
  • At the very top, the country’s name: “UNITED STATES OF AMERICA”, also curved along the rim

This classic layout was designed by Frank Gasparro, and it remained in use for five decades until the Lincoln Bicentennial reverse designs debuted in 2009.

Other Notable Features of the 1962 Penny

In 1962, a change in the penny’s composition was officially approved. Prior to this, Lincoln cents were made from 95% copper, with the remaining 5% being a mix of tin and zinc, forming what’s known as bronze.

However, in September 1962, Congress passed legislation to remove tin from the alloy, converting the coin’s composition to brass—a combination of 95% copper and 5% zinc. Despite this change, there’s no visual or physical difference between bronze and brass 1962 pennies. Both types have the same specifications: a 19 mm diameter and a weight of 3.11 grams.

One of the most visible changes over time is color. As copper reacts with air and handling, it can darken—affecting a coin’s classification and value:

  • A “Red” (RD) penny retains its original mint luster on at least 95% of its surface and is the most valuable.
  • A “Red and Brown” (RB) coin shows a mix of original red and darker tones.
  • A “Brown” (BN) coin has over 95% brown toning, typically making it the least valuable of the three.

Color grading is crucial for collectors, especially when determining how much a 1962 penny might be worth.

1962 Penny Grading Scale

Coin collectors use the Sheldon scale to determine the condition and value of a penny. Here’s a breakdown of the grades most commonly applied to 1962 Lincoln cents:

Grade NumberGrade Description
1Basal State-1
2Fair
3Very Fair
4, 5, 6Good
7, 8, 10Very Good
12, 15Fine
20, 30Very Fine
40Extremely Fine
50About Uncirculated
60Mint State (MS 60)
65Mint State (MS 65 – Gem)
70Mint State (MS 70 – Perfect)

Before estimating your coin’s value, it’s essential to determine its accurate grade. For help, refer to a reliable coin grading guide or consult a professional appraiser. The condition plays a major role in how much your penny might be worth.

1962 Penny Value Guides

1962 No Mint Mark Penny Value

In 1962, the Philadelphia Mint produced over 606 million Lincoln pennies, making these coins widely available even today. If your 1962 penny lacks a “D” mint mark beneath the date, it was struck in Philadelphia.

Because of the large mintage, most of these coins carry low market value—unless they feature a rare mint error. In general, only red-colored examples in uncirculated condition (graded MS60 and above) are worth more than face value.

These uncirculated coins, designated with an “MS” (Mint State) prefix, start at around $2 for MS60, increase to $7 at MS63, and reach $18 at MS65, which is the threshold for being considered a “gem.”

Truly exceptional coins bring significantly higher prices. A 1962 no mint mark penny graded MS67 can command around $350. Finding anything finer is extremely rare.

For instance, PCGS (Professional Coin Grading Service) has certified only 12 coins at MS67+, each valued at $1,750. Even more impressively, the finest known specimen—the only one graded MS68—holds an estimated value of $10,000.

1962 D Penny Value

If your penny features a “D” mint mark beneath the date, it was struck at the Denver Mint. In 1962, Denver minted nearly 1.8 billion pennies, far surpassing Philadelphia’s production.

Despite this larger mintage, fewer 1962-D pennies are available in higher grades compared to their no mint mark counterparts. In fact, the 1962-D is the second most difficult of all years to find in MS66 and higher grades, with only the 1963-D having a lower quantity of high-quality gems.

For lower-grade mint state coins, prices are similar to their Philadelphia counterparts. A 1962 Denver penny in MS63 red is valued at around $3, while an MS65 version will fetch approximately $20.

However, the value jumps significantly at MS67, where a 1962-D penny can be worth around $1,100. Despite this being the highest known grade, PCGS has certified 14 coins at this level, and NGC has certified 38.

Market values can fluctuate. For instance, a PCGS MS67 red graded 1962-D penny sold for $750 at auction in January 2023, while a NGC MS67 red penny of the same grade sold for only $216 just three months later.

1962 (P) No Mint Mark Proof Penny Value

The Philadelphia Mint produced both business strike and proof pennies in 1962. The proof pennies were made with highly polished planchets and special dies, intended for collectors. A total of over 3.2 million proof pennies were minted that year.

Given their high mintage and collector status, 1962 proof pennies are relatively easy to find in excellent condition today, making them affordable additions to your collection. For example, a PR63 red proof penny is typically valued at around $7, and even a PR67 is worth about $22.

Some proof pennies are also classified as cameos or deep cameos. These designations indicate a distinct contrast between the frosted raised areas and the reflective flat parts. If the contrast is very pronounced, the coin is termed a deep cameo.

These cameo and deep cameo coins generally fetch higher prices, but they remain relatively affordable. For instance, a cameo 1962 proof penny in PR67 might be worth around $30, while a deep cameo version will cost just a bit more.

However, the best examples of these coins command much higher prices. The auction record for a 1962 proof penny was set in 2005 when a deep cameo PR69 coin sold for $2,559, including the buyer’s premium. At the time, it was one of only 28 coins graded at that level, with no finer specimens known.

Rare 1962 Penny Errors List

1962 D Penny, Full Brockage Reverse

One of the most intriguing 1962 Denver pennies to have entered circulation featured a rare minting error known as a “full brockage reverse.” Instead of displaying the expected Lincoln Memorial on the reverse, the coin showed a mirror image of Lincoln’s portrait—the design normally found on the obverse.

This error occurred when a previously struck coin became stuck to the reverse die. When the die struck the next blank planchet, it imprinted a mirrored version of the obverse design onto the reverse side, resulting in a dramatic and collectible brockage error.

Interestingly, despite its highly unusual appearance, the coin remained in circulation for some time. It showed significant wear, which suggests that multiple people handled it without realizing its rarity. By the time it was identified and submitted for grading, the Professional Coin Grading Service (PCGS) assigned it a grade of AU53, meaning “About Uncirculated.”

1962 D Penny, Struck Fragment

On rare occasions, the coin minting process produces true oddities—like when something other than a proper planchet ends up in the coin press.

This happened in Denver in 1962, when a metal fragment—not a standard cent planchet—was struck by the dies. The result was a highly unusual piece with an irregular shape and a weight of just 1.2 grams, far lighter than a typical penny (which weighs 3.11 grams).

Despite its unconventional origin, the coin featured a clear and well-centered strike, and it remained in excellent condition. The PCGS graded it MS64 (Mint State 64), signaling strong eye appeal and minimal flaws.

Its combination of rarity, mint error, and preservation made it highly desirable to collectors. When it went up for auction, it sold for over $1,000—a striking price for such a tiny and unusual piece.

Where to sell your penny?

Now that you know the value of your penny, you might be wondering where to sell it. Don’t worry: here’s a guide to some of the best online platforms where you can easily sell your coins, along with their advantages and disadvantages.

Discover the best platforms for selling coins online (pros and cons).

FAQ About the 1962 Lincoln Penny

1. What is the historical significance of the 1962 Lincoln Penny?

The 1962 Lincoln Penny belongs to the Lincoln Memorial series (1959–2008), featuring Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse. While not particularly rare, it reflects an era of massive coin production in the U.S. and marks a period of continued economic expansion in the early 1960s. Its value today lies mainly in high-grade uncirculated examples or coins with mint errors.

2. What is the metal composition of the 1962 penny?

The 1962 Lincoln penny is composed of:

  • 95% copper
  • 5% tin and zinc

It weighs 3.11 grams, consistent with pennies minted between 1909 and 1982 (before the switch to copper-plated zinc in 1982).

3. How many 1962 pennies were minted, and where?

Over 2.4 billion Lincoln cents were produced in 1962:

  • Philadelphia Mint (no mintmark): 606,045,000
  • Denver Mint (D mintmark): 1,793,148,000

This extremely high mintage makes the 1962 penny very common, especially in circulated condition.

4. Are there any rare errors or varieties for the 1962 penny?

While no major doubled die varieties are confirmed for 1962, collectors have found some minor mint errors that add value:

  • Die cracks: Raised lines from cracks in the die.
  • Off-center strikes: Misaligned strikes can increase value.
  • Clipped planchets: Portions of the coin are missing due to miscut blanks.
  • BIE errors: A die break between the “B” and “E” in “LIBERTY” that looks like an “I”.

Coins with such errors in uncirculated condition can command premiums, often between $10 and $100+, depending on the severity and eye appeal.

5. What is the value of a 1962 penny today?

Condition1962 (No Mintmark)1962-D
Circulated$0.01–$0.05$0.01–$0.05
Uncirculated (MS60)~$0.15–$0.30~$0.15–$0.30
MS63 Red~$1–$2~$1–$2
MS65 Red$5–$15+$5–$15+
With major errorsVaries ($10–$100+)Varies ($10–$100+)

Proof versions were not minted in 1962, as all proofs came from Philadelphia, and only business strikes were made that year.

6. What does “Red,” “Red-Brown,” and “Brown” mean in coin grading?

Copper coins like the 1962 penny change color over time. Grading services use the following color designations:

  • Red (RD): Original mint luster, no toning; most valuable.
  • Red-Brown (RB): Partial red luster with some brown toning.
  • Brown (BN): Fully toned brown; least valuable among the three.

Most high-grade collectors prefer Red specimens for their sharp appearance and premium value.

7. Is the 1962 penny worth collecting?

Yes—while it is not rare, it’s worth collecting if:

  • You find it in high mint state (MS65 or better).
  • It displays a rare error or die variety.
  • You’re building a complete Lincoln Memorial set.

Because of its affordability, it’s a great entry point for new numismatists and still offers the thrill of the hunt for error coins or high-grade examples.

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