The 1970-S Small Date Lincoln Cent is a coin that often escapes the attention of collectors, yet its potential value, especially in pristine condition, can reach impressive heights.
Understanding its unique characteristics and market dynamics is essential for both seasoned numismatists and casual enthusiasts.
Understanding the 1970-S Small Date Penny
In 1970, the San Francisco Mint produced two distinct varieties of the Lincoln Cent: the Large Date and the Small Date. The Small Date variety is notably scarcer and holds greater value among collectors.
Key Differences Between Large Date and Small Date Varieties
Identifying the Small Date variety involves examining specific features on the coin:
| Feature | Large Date | Small Date |
|---|---|---|
| Date Alignment | The top of the ‘7’ sits lower than the other digits. | The top of the ‘7’ aligns evenly with the other digits. |
| ‘LIBERTY’ Inscription | Generally strong and clear. | Often appears weak or faint. |
| Digit ‘9’ in Date | The inner loop of the ‘9’ is more closed. | The inner loop of the ‘9’ is more open and points slightly upward. |
These distinctions are crucial for accurate identification and valuation. Notably, the Small Date variety’s ‘7’ aligns with the other digits, and the ‘LIBERTY’ inscription often appears weaker.
Market Value and Auction Records
The value of a 1970-S Small Date Penny varies based on its condition and appearance:
| Condition | Approximate Value |
|---|---|
| Circulated (Brown) | $10 |
| Uncirculated (Red-Brown) | $18 |
| Uncirculated (Red) | $35 and up |
| MS67 Red | Approximately $700 |
In exceptional cases, the coin has fetched higher prices. For instance, a PCGS MS67RD specimen sold for $2,464 in a 2008 online auction.
Factors Influencing Value
Several factors can significantly impact the coin’s value:
- Condition: Coins with minimal wear, retaining their original luster (designated as ‘Red’), are more valuable.
- Certification: Coins graded by reputable services like PCGS or NGC often command higher prices due to verified authenticity and condition.
- Market Demand: Fluctuations in collector interest can influence prices. Currently, there is a growing appreciation for rare varieties like the 1970-S Small Date.
Why This Coin Is Often Overlooked
Despite its potential value, the 1970-S Small Date Penny is frequently overlooked due to:
- Subtle Differences: The distinctions between the Large Date and Small Date are not immediately obvious, leading many to overlook the valuable variety.
- Lack of Awareness: Casual collectors or those new to numismatics may be unaware of the existence and significance of this variety.
The 1970-S Small Date Penny exemplifies how attention to detail can lead to significant rewards in coin collecting.
By familiarizing oneself with the subtle differences between coin varieties and staying informed about market trends, collectors can uncover hidden treasures in their own collections or even in everyday pocket change.
FAQs
How can I quickly identify a 1970-S Small Date Penny?
Look at the date: if the top of the ‘7’ aligns with the other digits and the ‘LIBERTY’ inscription appears weak, it’s likely a Small Date variety.
Does the condition of the coin significantly affect its value?
Yes, coins in better condition, especially those with original red luster, are more valuable.
Should I get my 1970-S Small Date Penny certified?
Certification by reputable grading services can authenticate the coin’s variety and condition, often enhancing its marketability and value.