1965 was a huge year for coin collectors in the U.S., and it all started because of a shortage. The rising prices of silver forced the U.S. Mint to change how they made dimes, quarters, and half dollars.
For the first time, these coins were no longer made from silver but a new mix of copper and nickel. The government also tried to stop people from hoarding coins, which put coin collectors in a tough spot.
A Nationwide Coin Shortage
The U.S. Mint started facing a coin shortage back in 1959, especially for half dollars. Even though the Mint worked non-stop by 1963, it couldn’t keep up with the demand. Banks had to ration coins, which led to the Coinage Act of 1965. This new law removed silver from most coins and allowed the Mint to freeze the date on coins. Coins could be struck in 1965 but still have a 1964 date, to keep up with demand.
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The Freeze on Dates and Mintmarks
To keep people from hoarding coins, the Mint froze the date on coins until they could catch up. So, even though it was 1965, many coins still showed the year 1964.
This was especially true for dimes, quarters, and half dollars, which were made in huge amounts. The Mint also stopped using mintmarks, which had been around since 1838 to show where a coin was made.
Mint Sets and Proof Sets Paused
To deal with the coin shortage, the Mint also stopped making Mint Sets and Proof Sets in 1965. These sets were popular with collectors, but the Mint needed to focus on making coins for circulation. Instead, the Mint offered Special Mint Sets from 1965 to 1967. These coins were shinier than regular coins but not as fancy as proof coins.
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The 1965 Lincoln Cent
If you find a 1965 penny in your pocket change today, it’s probably not worth much—most are in worn condition. However, uncirculated 1965 pennies that were saved in rolls and bags are still available.
These can be worth around $1 to $1.50 each. Be careful though—some people might mistake Special Mint Set coins for regular business strikes, but experts know the difference.
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The Rare 1965 Lincoln Cent
Some 1965 Lincoln Cents in high grades can be worth a lot of money. For example, the rarest 1965 Lincoln Cent, graded MS68RD, sold for $6,500! These rare coins are hard to find, so it’s best to check with a professional dealer if you think you’ve found one.oin Collecting Tips for 1965-1967
Collecting coins from 1965 to 1967 is tricky because the Mint didn’t produce Mint Sets during this period. This means finding high-quality uncirculated coins is harder, and collectors have to rely on rolls or bags of saved coins.