The 1970 Lincoln penny is a one-cent coin that the United States Mint produced in 1970. The obverse of the coin features the profile of President Abraham Lincoln, while the reverse features the Lincoln Memorial.
A total of 1,579,324,065 Lincoln pennies were minted in 1970. They were struck at the Philadelphia, Denver, and San Francisco Mints.
The value of a 1970 Lincoln Penny is $0.7 up to $63 depending on the condition, certification, and demand.
When it comes to 1970 penny value pennies are valuable. However, you can sell these pennies in uncirculated conditions for a premium. Keep reading to learn more about these 1970 one-cent coins!
What is a 1970 Penny?
The 1970 Penny is also known as the 1970 Lincoln Memorial Cent. This one-cent coin features the profile of Former President Abraham Lincoln on the obverse side, and the reverse side features a profile of Lady Liberty, standing on a globe alongside the motto “LIBERTY” above her.
Its worth is slightly lower than a regular dime since it has been redesigned. These pennies is considered as US’s smallest coin. While its popularity wanes, it is still a coin that everyone remembers.
The 1970 Penny dates back to 1909, when the Mint started to use steel instead of copper for the base materials.
What is the History Behind the 1970 Penny?
No doubt, the 1970 Lincoln Penny is one of the US’s most recognizable coins. It dates back to when President William Howard Taft approved a design submitted by Victor David Brenner, later changed to Augustus Saint-Gaudens in 1909, and in 1916, it was launched.
This Lincoln one-cent coin is minted as part of the constantly changing series. The new designs were released on the 100th anniversary of President Abraham Lincoln’s birthday.
The penny series between 1890 and 1909 were redesigned by Victor Brenner, while the 1910 through 1918 series were designed by John Sinnock.
The Mint utilized steel due to the new law requiring a coin to be 90% copper. In return, the pennies became too lightweight, so they started inserting copper-plated zinc into the steel coin.
The metallic zinc is known to settle at the bottom of the coin. Then, it fills with copper, leaving an empty space at the top. As a result, the penny becomes hollow.
What Does a 1970 Penny Look Like?
On the obverse side is Abraham Lincoln’s portrait facing the right. The left side is where you will find the word “LIBERTY.” If you take a look on the right side, you will see the issue date.
Above Lincoln’s head is the phrase “IN GOD WE TRUST.” The reverse side depicts the Lincoln Memorial in Washington, D.C. On the upper part, the Washington, D.C.,” UNITED STATES OF AMERICA” phrase is written, and the “ONE CENT” words appear below.
The “E PLURIBUS UNUM” Latin phrase is engraved on the building above the memorial.
How Much is 1970 Penny Value?
Depending on the condition, certification, demand, and other factors, the worth of a 1970 Penny is $0.07 up to $63.
Most 1970 Lincoln coins in circulated condition would only be worth the weight in copper. Currently, the coin’s copper melt value is around $0.02. So you can sell these pennies in uncirculated condition for a premium.
To give you more ideas about the 1970 Penny value, check out the following:
- 1970 Penny with no Mark (Uncirculated, MS 65): $1
- 1970 D Penny (Uncirculated, MS 65): $1
- 1970 S Penny (Uncirculated, MS 65): $1
- Proof Coins with S Mint Mark (Small Date, PR 65): $40
- Proof Coins with S Mint Mark (Large Date, PR 65): $1
What are the Different 1970 Pennies?
Below are the different variations of 1970 Pennies:
- 1970 Penny (No Mint Mark)
This 1970 coin is one of the most popular US coins commemorating Abraham Lincoln. The coin’s obverse features Lincoln’s bust with a small inscription. This penny without a mint mark was minted in Philadelphia.
- 1970 Penny Small Date
The 1970 Lincoln Memorial Cent has two variations. The small date variety has a taller “7” and more level than the “0”.
- 1970 Penny Large Date
As mentioned, the 1970 Penny came into two variations. And the large date variation features “7” that appears lower and not level with the “0.”
- 1970 Penny Doubled Die Obverse
The doubled die obverse of the 1970 Penny is one of the most scarce and valuable varieties. The “IN GOD WE TRUST” doubled letters along the top of the coin and the double of the word “LIBERTY” on the left side make this coin unique.
What is the Composition of 1970 Penny?
The 1970 Copper Alloy Penny is 3.11 grams in weight and 19 mm thick. This coin was minted in limited quantities in 1970.
The Lincoln Memorial Cent series of commemorative coins feature Abraham Lincoln’s portrait. The coin’s metal composition is 5% tin and zinc and 95% copper.
The Lincoln Cent was minted in Philadelphia, Pennsylvania. The coin was minted at three different mints and contained different metals. It was made for circulation in 1909.
Also, the coin is one of the world’s most famous and popular coin designs. It was named after President Abraham Lincoln.