Adults reach approximately 13 cm in length. Young fish are often confused with another related species, the Silver Dollar, when sold, as they are very similar in appearance. However, with age, the differences become more apparent, and the fish acquires a resemblance to the Spotted Metynnis. Both of these species are almost identical, having a similar discoid body shape, strongly compressed laterally, as well as a spotted pattern on a silvery or gray background, a reddish anal fin, and a reddish lower part of the head and chest. Distinguishing them is extremely important, as their keeping requirements are different. Lippincott's Metynnis can be identified by a characteristic dark spot behind the head, which stands out against other, paler speckles. In males, unlike females, the first rays of the anal fins are slightly elongated, forming a distinct appendage, and during spawning, the red pigment becomes noticeably brighter.