What Makes A 1965 Penny Rare

What makes a 1965 penny rare? In 1965, the United States Mint transitioned from using copper and silver to other cheaper metals for producing pennies. This shift makes some 1965 pennies more valuable to collectors.

If you’re short on time, here’s a quick answer: In 1965, the U.S. Mint produced pennies with a transitional composition of 95% copper and 5% zinc. While this composition change itself doesn’t make the 1965 penny rare, some people may mistakenly believe that all pennies minted after 1964 are made of zinc and that the 1965 pennies with a higher copper content are scarce.

In this comprehensive guide, we will cover everything you need to know about identifying 1965 pennies, where to find them, and what makes them so valuable to collectors.

The 1965 Penny Composition Shift

Copper Penny Phase-Out

For almost 100 years, U.S. pennies were made primarily of copper. However, rising copper prices in the early 1960s made the minting of copper pennies quite expensive. As a result, the composition of the penny shifted in 1982 from 95% copper and 5% zinc to a new copper-plated zinc core composition.

The Coinage Act of 1965 authorized the change to eliminate the rising production costs of predominantly silver coins and not copper coins. This is why many people mistake that penny coins were affected by this act and think some specimens are scarce, however, this act affected dollar coins, quarter coins, and dimes.

Until 1982, the penny contained 95% copper and was worth almost 1.5 cents, simply for its metal content value. With copper prices continuing to rise, the U.S. Mint was losing money by minting pennies from the traditional copper composition.

Thus, the U.S. Mint officially changed the copper penny composition in 1982. Instead of being 95% copper, the new penny composition was 97.6% zinc with just a 2.4% copper plating. This change significantly reduced the intrinsic value of the penny to be worth less than face value while also reducing production costs.

New Coin Composition

The process of shifting from the predominantly copper penny to the new copper-plated zinc penny spanned between 1982 and 1983. Here is a comparison of the key details between the old and new penny compositions:

As the table shows, the new zinc and copper-plated penny looked quite different from the traditional copper penny. The cheaper zinc core gave the newer pennies a brownish-grey, silverish coloring compared to the familiar copper shade.

Additionally, a small “D” mint mark was added to the coin below the date to identify that it was minted in Denver, as opposed to the older pennies minted without a mint mark in Philadelphia. Overall, the change successfully reduced costs while still maintaining an abundant supply of pennies within circulation.

Identifying Valuable 1965 Pennies

No Mint Mark

A lot of people think that a 1965 penny that lacks a mint mark, indicating it was struck at the Philadelphia mint, is a rare error. However, the fact is that all penny coins produced in 1965 were minted in the Philadelphia facility. Also, pennies minted in 1966 and 1967 as well do not have any mint marks.

Errors and Varieties

There are also 1965 Lincoln cents with interesting errors and varieties that make them collectible, though less rare than transitional coppers and coins missing mint marks. These include:

• Double dies showing a strong doubling of design elements
• Off-center strikes with the design shifted significantly off-center
• Broadstruck errors with distorted, spread-out details
• Coins struck on defective planchets with curved or clipped edges

While these types of errors can add numismatic appeal, they generally trade for less-than-perfect business strikes or proofs unless they are dramatic and rare. Still, circulating 1965 coins with eye-catching errors often sell for a premium over face value.

In addition to errors, there are also two different designs for Lincoln’s bust on 1965 cents. Coins struck early in 1965feature a pointed, elongated bust style referred to as the “Pointed 5” variety. Later in the year, the design was modified resulting in a shorter, blunter bust known as the “Round 5” variety.

While subtle, specialists recognize the two distinct styles.

How Much are Rare 1965 Pennies Worth?

Determining the value of rare 1965 pennies requires examining a few key factors. Some of the main considerations include conditions, errors, and demand from collectors.

Errors and Varieties

1965 coins with errors or varieties also carry significant premiums. Some of the well-known types include:

• 1965 DDO (Doubled Die Obverse) – $500+ in AU condition
• 1965 SMS (Special Mint Set) – $30,000+ in PR-67 grade
• 1965 Doubled Ear – $75+ in AU grade

Condition Rarity

While most 1965 Lincoln cents are well circulated, high-grade examples can be quite scarce and valuable. For instance, an MS-67 Red-graded 1965 is worth over $125.

Where to Find Rare 1965 Pennies

Coin Shows

Coin shows are fantastic places to locate rare 1965 pennies. These events attract numerous coin dealers and collectors who set up booths to buy, sell, and trade coins. When perusing dealer inventories at coin shows, be sure to ask if they have any valuable 1965 Lincoln cents for sale.

You may get lucky and find a rare variety like a 1965 doubled-die penny worth thousands.

In addition to dealers, coin shows also draw in collectors looking to complete their coin albums. It’s possible you could proposition a collector to purchase some of their 1965 pennies. Building relationships within the numismatic community can lead you to some excellent coin sources.

Online Auctions

Online auction websites like eBay provide a robust marketplace to search for treasured 1965 Lincoln pennies. On any given day, hundreds of these mid-60s coins are listed for sale on eBay. You can easily filter search results to see only rare varieties.

When buying coins online, be sure to check the seller’s feedback rating. Look for sellers with 100% positive feedback from many transactions. This helps avoid potential scams or receiving a coin in worse condition than described.

Bank Rolls

An exciting way to potentially find valuable 1965 pennies is by searching bank rolls. Some coin dealers and enthusiasts will order boxes of rolled pennies from banks to hunt for scarce coins. It takes time and effort, but bankroll hunting can result in discovering rare coins, varieties, and errors.

Key dates to look for in 1965 penny rolls include the small date, double die obverse, and 1965 SMS specimens. While most 1965 pennies have little value, these varieties can be worth hundreds or thousands of dollars.

How to Verify Authenticity and Grade Condition

Authentication Tests

There are a few key tests that collectors use to verify the authenticity of 1965 pennies:

• Visual Inspection – Carefully examine the coin for proper detail, color, correct weight, and diameter. An authentic 1965 penny should have crisp details on Lincoln’s bust and the memorial on the reverse. The color should be mostly copper with some fading.
• Ping Test – An authentic penny made of copper will give a high-pitched “ping” sound when dropped. A fake penny made of other metals will thud instead.
• Magnet Test – Run a magnet over the coin. An authentic 1965 penny will not stick since it’s made mostly of copper. However, some legitimate pennies have trace elements of iron and nickel that could make them slightly magnetic.
• Weight Test – Use a precision digital scale to check that the coin weighs 3.11 grams. Some counterfeits will be lighter or heavier.

There are also professional authentication services like PCGS and NGC that can evaluate and certify coins.

Grading Scale

The most popular grading system is the Sheldon Scale which assigns grades from 1 to 70, with 70 being perfect mint condition. Key aspects that determine grades for 1965 pennies include:

There are minor variations within each full grade. Proper certification of grades from a service like PCGS or NGC can significantly influence 1965 Lincoln penny values on the secondary coin market.

What Makes A 1965 Penny Rare – Conclusion

We’ve covered the key factors that give some 1965 pennies increased rarity and value. With this guide, you should now be able to identify rare 1965 pennies, assess their authenticity and condition, and determine potential worth.

 With some persistence checking pocket change or acquiring coin rolls from your bank, you may uncover a valuable 1965 rarity for your collection.