Are you a coin collector looking to add a rare and valuable piece to your collection? The 1970 S penny might just be the perfect addition! This unique coin was minted at the San Francisco Mint and featured the iconic image of President Abraham Lincoln on the obverse side. The reverse side boasts the Lincoln Memorial, with the S mint mark proudly displayed below.
The value of a 1970 S penny is influenced by several factors, including its condition, metal, rarity, demand, and previous sales. The variety of the coin, such as the Small Date, Large Date, and Proof versions, can also influence its value. Some of these coins are valued at thousands of dollars.
For instance, a 1970-S Large Date, Doubled Die Obverse MS was auctioned at a sales price of $24,150, while a Rare 1970-S Doubled Die Obverse Cent was auctioned off at $18,000.
Keep reading to discover more about the history and value of this elusive coin.
1970 S Penny – History
The 1970s were a time of momentous change and social upheaval in the United States. The 1970 S penny, which bears the S mint mark, was minted at the United States Mint in San Francisco. During the 70s, the mint was experimenting with new designs for the penny, as the old design had been in use for many decades.
One of the new designs considered for the penny was the “Ike” dollar, which featured a portrait of President Dwight D. Eisenhower on the obverse (front) side of the coin. However, this design was ultimately not chosen; hence, the old Lincoln design was kept for the 1970 S penny.
Despite not featuring a new design, the 1970 S penny is still an interesting and sought-after coin for collectors. The 1970 S penny is made of copper, unlike today’s pennies, which are mostly made of zinc. Since copper is worth more than zinc, the 1970 S penny is far more valuable.
Additionally, the 1970 S penny was minted at a time when the United States was going through a period of inflation. Therefore, the value of the penny, in terms of purchasing power, was decreasing, making it worth less and less over time. Moreover, the fact that it was minted in limited quantities makes the 1970 S penny a valuable and exciting collectible for coin enthusiasts.
1970 S Penny Varieties and Their Values
The table below shows the varieties of 1970 S Penny with their mintage and value.
|1970-S Penny Small Date||690,560,004 minted of all kinds||San Francisco||$40+ Dependent on grade|
|1970-S Penny Large Date||690,560,004 minted of all kinds||San Francisco||25-50+ Cents Dependent on grade|
|1970-S Proof Penny||2,632,810 minted of all kinds||San Francisco||$1+ Dependent on grade|
|1970-S Small Date Proof Penny||2,632,810 minted of all kinds||San Francisco||$30+ Dependent on grade|
|1970-S Penny with Doubled Die||Unknown number; around 50 in known circulation||San Francisco||$1500+ This is an uncommon coin, so the price may vary|
6 Factors That Determine the Value of 1970 S Penny
Several factors can determine the value of a 1970 S penny, including
- Condition: The condition of a 1970 S penny can significantly impact its value. A penny in good condition, with no significant scratches, dents, or other types of damage, will typically be worth more to collectors than a similar penny in poor shape.
- Metal: Coins made of intrinsic metals are generally more valuable than others.
- Rarity: The rarity of a 1970 S penny can also affect its value. Rare coins are generally more valuable than more common ones, so a 1970 S penny that is rare will typically be worth more to collectors than a more common one.
- Demand: The demand among collectors for a particular 1970 S penny can also influence its value. Coins in high demand among collectors will often command higher prices, while the less sought-after coins may be worth less.
- Previous Sales: The prices for which similar 1970 S pennies have recently been sold can also provide a helpful reference point for determining the value of a particular coin. Comparing a 1970 S penny to similar ones that have recently been sold makes it possible to get a sense of its potential value.
- Expert Opinion: Coin experts and collectors can also provide valuable insights into the value of a 1970 S penny. A quick consultation with the experts can go a long way in helping you better understand the factors that can affect the value of a particular coin and get a more accurate estimate of its worth.
The 1970-S Large Date Vs Small Date
Distinguishing a 1970-S Small Date Lincoln Cent from a 1970 S Large Date is a matter of examining both the date and the inscription “LIBERTY” on the coin’s obverse. The 1970 S Small Date, also known as the “High 7” variety, has the top of the “7” in the Date perfectly aligned with the tops of the other three numerals.
Conclusively, the tops of all four digits should be on the same level. In contrast, the 1970-S Large Date, also known as the “Low 7,” has the top of the “7” lower than other digits’ tops.
Additionally, you may also look at the inscription “LIBERTY” on the coin. On the valuable 1970-S Small Date variety, this inscription appears weak, while it appears strong on the Large Date version.
Some of The Recently Sold 1970-S Penny Records
|1970-S Lincoln Cent. Large Date. FS-101. Doubled Die Obverse. MS-66 RD (PCGS). CAC.||$18,000||2022||Stacks Bowers|
|Lincoln Cent (Modern) (1959 to Date),1970-S Large Date, Doubled Die Obverse MS||$24,150||2001||PCGS|
|1970-S 1c PCGS MS65 RD (Doubled Die Obverse, Lg. Date)||$9000||2022||PCGS|
|1970-S 1c NGC MS67 RD (Small Date)||$530||2022||PCGS|
Determining The Value of Your 1970 S Penny
Best Tips for Examining and Grading Your Coin
To determine the value of your 1970 S penny, it is crucial to carefully examine and grade the coin. Let’s go through some tips that can help you determine the value of a 1970 S penny.
With the help of a magnifying glass or any other viewing tool, carefully inspect the coin and look out for any errors or abnormalities. Similarly, you may use a coin grading guide or reference book to compare your coin to known examples and determine its condition.
In addition, you can consider the coin’s preservation and any signs of wear or damage. A 1970 S penny in mint shape is likely to get more value return than a penny emitting signs of wear and tear. If you are unsure about the value of your coin, consider consulting a coin expert or reference guide for further assistance.
Expert Advice on the Value of 1970 S Penny
If you are looking for pricing information or expert advice on the value of your 1970 S penny, you have several options available, such as:
- Coin value guides: Coin value guides are books or online resources that provide information on the value of various coins, including 1970 S pennies.
- Coin experts: Coin experts are individuals who have extensive knowledge and expertise in the field of numismatics or the study of coins.
- Coin forums and online communities: Coin forums and online communities are online platforms where collectors and enthusiasts can share information, ask questions, and discuss coins-related topics.
- Coin dealers: Coin dealers are individuals or businesses that buy and sell coins, including 1970 S pennies.
- Coin auctions: Coin auctions are events where coins are sold to the highest bidder. These auctions can provide valuable information on the value of your 1970 S penny and an opportunity to sell it to other collectors.
To conclude the discussion, the value of a 1970-S penny can vary depending on its condition and rarity. A 1970-S penny in good condition can be worth around a few dollars, while a rare 1970-S Penny with Doubled Die can be worth several hundred dollars. Nonetheless, it’s always recommended to have your 1970 S penny professionally graded to determine its exact value.
Also Read: 1970s Tonka Toys Value (Most Valuable Sold For $743)
What makes a 1970 s penny rare?
A 1970 S penny is not considered to be a scarce coin. Generally, a coin is rare if it is old, excellent in shape, and limited in numbers. The value of a 1970 S penny can vary depending on its rarity, but most of these coins are worth only a small amount above their face value. Some 1970 S pennies may be more valuable if they are part of a unique set or if they were minted with a mistake. For instance, 1970-S Penny with Doubled Die is more valuable than others.
How can I tell if my 1970 S is a small date?
You must carefully inspect the coin to determine whether your 1970 S penny is a small date. Generally, a small date on a 1970 S penny will have a more compact and delicate appearance than a large date. The numeral “7” in the Date will be smaller and narrower, and the tail of the “1” will be shorter and less pronounced. Additionally, the bottom of the “0” may be slightly curved or rounded, rather than flat.
How do you tell if a 1970 S penny is double died?
A double-die error on a 1970 S penny would be visible as a doubling of the details on the coin’s design. This doubling would be most noticeable on the Date and the inscriptions on the coin, such as the word “LIBERTY” and the motto “IN GOD WE TRUST.” To determine if your 1970 S penny is double died, you will need to closely examine these features using a magnifying glass or another tool. Look for any areas where the details appear to be doubled or repeated, which could indicate that the coin is a double-die error.
Is the 1970 S penny worth anything?
In general, a 1970 S penny is worth only a small amount above its face value. These coins were produced in large quantities and are not considered particularly rare or valuable. However, the value of a 1970 S penny can vary depending on its condition and whether it is part of a unique set or collection. For example, a 1970 S-proof penny in good condition may be worth more than a regular 1970 S penny in circulated condition. Additionally, if your 1970 S penny is part of a set or collection that is rare or valuable, it may be worth more than a regular 1970 S penny.