Jaime Hernandez: The Mint struck a Small and Large Date variety for the Lincoln cent this year. It also struck a Small and Large Date for the Proof Lincoln cent.
The 1960-P Small Date seems to be the scarcer of two varieties and worth a higher premium compared to the Large Date variety. Both the Small Date and Large Date varieties were very popular when they first came out and are still so today, especially since they can be easily differentiated from one another. Both the Small Date and Large Date 1960-P Lincoln cents are considered major varieties, since most collectors who collect business strike Lincoln cents try to obtain both the Small Date and Large Date varieties for their sets.