The melt value of a 1960 US penny is 1.5 cents, as the penny is 95% copper and 5% zinc. However, the numismatic value of a 1960 penny can vary greatly depending on its condition and rarity. A 1960 penny in good condition is worth around 2 cents, while a penny in mint condition can be worth up to $2.50. Some rare varieties of the 1960 penny, such as the "doubled die" variety, can be worth even more.