Yes, 1959 pennies can hold value, especially if they are in excellent condition or have rare features. Identifying if your penny is worth holding onto depends on its mint mark, condition, color, and any possible errors.
1959 Penny Value Overview
| Mint Mark | MS63 | MS65 | MS67 |
|---|---|---|---|
| 1959 (P) No Mint | $6 | $18 | $600 |
| 1959 D | $4 | $18 | $275 |
| Proof Grade | PR60 | PR65 | PR69 |
|---|---|---|---|
| 1959 (P) Proof | $5 | $15 | $450 |
| Cameo | $10 | $30 | $2,000 |
| Deep Cameo | $14 | $70 | $21,500 |
*Values apply to business strike pennies graded red (RD).
Historical Background of the 1959 Penny
In 1959, the U.S. Mint introduced a new reverse design on the penny to celebrate Abraham Lincoln’s 150th birthday. This replaced the original wheat ears design with the Lincoln Memorial.
Nearly 2 billion pennies were minted, mostly in Denver, with some from Philadelphia, including over a million proof coins. The reverse design by Frank Gasparro remained until 2009.
Design Details of the 1959 Penny
Obverse: The front features Lincoln’s profile, created by Victor David Brenner, with his initials on the lower edge. “IN GOD WE TRUST” is above Lincoln, “LIBERTY” to the left, and the date (plus mint mark if from Denver) to the right.
Reverse: Displays the Lincoln Memorial with a small image of Lincoln inside. The coin also shows “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “ONE CENT.”
Physical Characteristics and Composition
The penny measures 19 mm in diameter and weighs 3.11 grams. Made of 95% copper and 5% zinc, its color ranges from bright red (new) to brown (aged).
Coin collectors value pennies differently depending on the color classification: red (most valuable), red-brown, or brown (least valuable).
Grading and Value Factors
Coins are graded on a scale from 1 (poor) to 70 (perfect mint state). Red, high-grade coins tend to be more valuable.
For example, a 1959 Philadelphia penny in MS63 red condition can be worth around $6, while the same coin in MS67 can reach $600 or more.
Philadelphia vs. Denver Mint Pennies
Philadelphia (no mint mark) pennies are rarer and often more valuable than Denver (marked with “D”). Denver pennies are more common but still valuable in higher grades.
Proof coins from Philadelphia, made for collectors, command premium prices, especially cameo or deep cameo varieties.
Notable Errors and Rare Varieties
The rare 1959 D Mule penny features the old wheat reverse instead of the Lincoln Memorial, making it highly sought after.
Other errors include double die obverse coins with doubling on “LIBERTY” and the date, increasing their worth significantly.
Where to Sell Your 1959 Penny
Coins can be appraised and sold through verified online platforms or local coin dealers. Knowing your coin’s condition and any errors will help you get a better price.
FAQs
How can I tell if my 1959 penny is valuable?
Look for a red color covering most of the coin and minimal wear or damage to increase its value.
What makes a 1959 penny rare?
Errors like double dies, repunched mint marks, or the rare mule reverse can make a penny rare and valuable.
Is a 1959 D penny worth more than a Philadelphia penny?
Generally, Philadelphia pennies are more valuable because fewer were minted, but condition matters most.
What is the highest price a 1959 penny can reach?
Rare errors or top-grade proof coins can sell for thousands, with some rare mules reaching over $30,000.