Are you a coin collector or just a curious enthusiast? In this comprehensive guide, we delve into the fascinating world of the 1964 D Lincoln penny, exploring its value, various errors, and why it holds a special place in coin collecting. The 1964 penny is not just another coin; it has stories, rare varieties, and intriguing minting errors that can significantly enhance its worth. Read on to discover how you can spot these rare gems and enhance your coin collection.
What is the 1964 Lincoln Penny?
The 1964 Lincoln penny, also known as the Lincoln Memorial cent, marks a significant year in U.S. Coinage history. Minted by the United States Mint, these pennies featured the iconic portrait of President Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse. The 1964 penny was produced in massive quantities, making it a staple in circulation during that time.
Unlike earlier wheat pennies, the 1964 Lincoln penny transitioned to a design that highlighted the Lincoln Memorial, a tribute to one of America’s most revered presidents. This change in design reflects America’s evolving narrative and serves as a collector’s item that captures a moment in history.
Detailed Features of the 1964 Penny
Obverse Design Details
The obverse of the 1964 penny showcases President Lincoln‘s profile, a familiar image that has graced the penny for over a century. This portrait was the creation of Victor David Brenner, who aimed to present Lincoln at his most engaging, imagining him reading to a child. Some historians suggest that Brenner’s design was inspired by a historic photograph taken in Matthew Brady‘s studio.
An interesting aspect of the obverse is the controversy surrounding Brenner’s initials. Originally intended to be on the obverse, they were moved to the reverse due to concerns of them being too prominent. They were eventually restored in 1918 to a less conspicuous position on the obverse.
In terms of inscriptions, the obverse features “In God We Trust” above Lincoln’s head, “Liberty” to the left, and the date to the right. Coins minted in Denver include a small “D” mint mark below the date.
Reverse Design Details
On the reverse, the Lincoln Memorial takes center stage. If you look closely, you can see the statue of Lincoln within the memorial, making this one of the few coins to depict the same individual on both sides. This design underscores the nation’s respect for Lincoln and echoes his enduring legacy.
The reverse also includes the denomination “ONE CENT” along the lower edge. At the top, the name of the country follows the curve of the coin, while the horizontal Latin motto “E pluribus unum” honors the unity of the United States from many individual states.
These thoughtful design elements make the 1964 Lincoln penny not just a piece of currency, but a small, enduring artifact of American history.
What Makes the 1964 D Lincoln Penny Special?
The 1964 D Lincoln penny, minted at the Denver Mint, carries unique characteristics that distinguish it from its Philadelphia counterparts. The ‘D’ mint mark signifies its origin, crucial for collectors who often seek out coins from specific mints for their collections. This detail adds to the coin’s rarity and potential value.
In addition to the Denver mint mark, the 1964 D penny often features certain mint errors that can elevate its value significantly. Collectors often look for these variations, as they can lead to rare finds worth hundreds or even thousands of dollars, depending on their condition and uniqueness.
How the 1960s Coin Shortage Influenced Mint Marks
In the early 1960s, the rising price of silver turned ordinary dimes, quarters, half dollars, and dollar coins into highly valued commodities. The worth of the silver in these coins exceeded their face value, prompting many to hoard them for their bullion potential. This widespread hoarding led to a critical coin shortage, disrupting the economy.
The scarcity extended beyond silver to copper coins like the Lincoln cent, catching the eye of those stockpiling metal. As coins vanished from circulation, collectors struggled to find quality pieces, spiking secondary market prices. Frustrations rose, leading government officials to mistakenly accuse collectors of exacerbating the shortage, instead of the hoarders.
In response, the US Mint, led by Director Mary Adams, took decisive action to curb collector-driven demand. In 1964, Adams removed mint marks from all coins except for those produced at the Denver Mint, aiming to make them less attractive to collectors. This decision left all coins from 1965 to 1967 devoid of mint marks. It wasn’t until 1968, once the coin shortage crisis was declared over, that mint marks reappeared on US coins, marking a return to normalcy.
Thus, the coin shortage of the 1960s not only highlighted economic challenges but also temporarily altered how mint marks were applied, reflecting a unique period in numismatic history.
How to Identify a 1964 Penny Error?
Identifying a 1964 penny error is crucial for collectors looking to maximize their investments. Common errors include the double die, where the coin’s design appears doubled, particularly in the inscription “In God We Trust“ or the “L“ in Liberty. These mistakes occur during the minting process and can make a penny worth much more than its face value.
Other errors include planchet errors, where a coin might be struck on an incorrect planchet, leading to misaligned images or features that are partially missing. It’s essential to familiarize yourself with the features of a standard 1964 Lincoln penny to spot these errors accurately.
What is the 1964 Penny Value Today?
The value of a 1964 penny significantly varies based on its condition, mint mark, and any errors it may possess. In general, uncirculated 1964 pennies can be worth around 10 to 25 cents, while those with notable errors can fetch hundreds or even thousands of dollars at auction.
For example, a 1964 D penny with a double die or other rare error can be worth upwards of $1,000, depending on its grading. Collectors often refer to platforms like the Professional Coin Grading Service (PCGS) for accurate assessments of their coins.
Detailed Valuation of the 1964 D Penny
In 1964, the Denver mint produced nearly 3.8 billion pennies, slightly more than the Philadelphia mint. Despite this high mintage, the value of these coins can vary significantly at higher grades.
- Mint State 63 (MS63): A red 1964 D penny is valued at about $6, similar to its Philadelphia counterpart.
- Mint State 65 (MS65): The value increases slightly to approximately $16.
- Mint State 67 (MS67): Here, the value jumps significantly, with the coin valued around $650.
The Pinnacle of 1964 D Penny Valuation
The finest known examples are graded MS67+, with only seven coins reaching this level. These coins are highly sought after, each valued at around $4,750. This demonstrates the substantial leap in value as the quality of the coin improves, making these coins highly desirable for collectors aiming for top-notch specimens.
Understanding the Value of a 1964 (P) No Mint Mark Proof Penny
In 1964, the Philadelphia Mint produced nearly 4 million proof pennies. These coins are distinguishable by their glossy finish and precise details, resulting from meticulously prepared dies and highly polished planchets. Intended for collectors, these proof pennies were never circulated.
Grading and Value
- PR60 Grade: At this entry-level grade, a 1964 proof penny typically fetches around $6.
- PR68 Grade: As the quality improves, so does the value. A coin graded PR68 is estimated to be worth approximately $75.
Coins graded above PR68 are considerably rarer:
- PR69 Grade: At this level, the penny’s value jumps significantly to around $340.
- PR70 Grade: Achieving a perfect grade, PR70 proof pennies are exceptionally rare. The Professional Coin Grading Service (PCGS) appraises a PR70 proof penny at an impressive $12,500.
If you happen to have a 1964 (P) No Mint Mark Proof penny in superior condition, it might be well worth getting it professionally graded to understand its full potential value on the market.
What is the Value of a 1964 (P) No Mint Mark Special Mint Set Penny?
The 1964 (P) No Mint Mark Special Mint Set penny stands out as a unique and mysterious piece in coin collecting. Unlike typical coins from 1964, these pennies were struck at the Philadelphia Mint, and their production is shrouded in a bit of an enigma since they were issued alongside proof coins.
Key Features
- Scarcity: It’s estimated that only a few dozen of these coins exist, making them exceptionally rare.
- Distinctive Finish: These pennies are noted for their satin finish, which contrasts with the glossy appearance of proof coins and the standard surface of regular circulation pennies. Their edges are sharp and well-defined.
Grading and Value
Due to their rarity and unique characteristics, these pennies carry significant value, which escalates sharply with their condition:
- SP60 Grade: Beginning at a grading level of SP60, these coins have an estimated value of about $1,300.
- SP65 Grade: The valuation increases as the grading improves, with coins rated SP65 commanding around $11,500.
- SP67+ Grade: At the pinnacle of grading quality, an SP67+ penny can be worth approximately $20,000.
These special mint set pennies were never meant for circulation, which is why their grading starts at SP60. Collectors treasure them for their rarity and the mystery surrounding their creation, making them a prized piece in any collection.
How Much is a 1964 (P) No Mint Mark Penny Worth?
The value of a 1964 penny without a mint mark varies significantly based on its condition and rarity. These pennies were minted in Philadelphia, and lack the “D” mint mark found on their Denver counterparts.
Production and Rarity
Philadelphia minted nearly 2.5 billion pennies dated 1964, making them quite common. Many of these coins may not hold much value beyond their face value due to their high circulation numbers.
Condition Categories
Coins are judged on a scale from 1 to 70, with 1 indicating poor condition and 70 representing a flawless specimen. The condition of a coin hugely influences its value:
- Brown Coins: Typically, even well-preserved brown pennies do not fetch more than a dollar unless they exhibit unique errors.
- Red Brown Coins: A red brown coin, graded at MS63, might be valued around $2.
- Red Coins: These are more desirable, especially in higher grades. A well-preserved red coin graded MS63 may be worth around $6.
Exceptional Finds
Coins in superior condition command higher prices:
- Red Brown MS66+: The finest known example at this grade is approximately valued at $40.
- Red MS66+: Could fetch about $65, but if it achieves an MS67 grade, its value jumps to approximately $1,000.
- Top-Tier Red MS67+: The pinnacle of this category, with only three known to exist, each valued at an impressive $13,500.
Conclusion
While the majority of 1964 pennies won’t make you rich, keeping an eye out for those rare, high-grade red examples might just lead to a rewarding find.
Current Prices for Mint State 1964 Lincoln Cents
If you’re curious about the value of a high-quality 1964 Lincoln cent, you’re in the right place. Let’s break down the prices for these “Mint State” coins as recorded by PCGS Coinfacts in November 2023.
Mintage Overview
These coins are not scarce given they were produced in massive numbers. Combined, Philadelphia and San Francisco mints rolled out approximately 2.648 billion of these coins. Nonetheless, prices can vary greatly based on their condition.
Pricing Details
Here’s a snapshot of their current market value based on their grade:
- MS-63 RD: Priced at around $6, this grade represents coins with minimal flaws that are almost imperceptible to the untrained eye.
- MS-64 RD: These coins command slightly higher prices at $10. They are known for their better aesthetic appeal with minor imperfections.
- MS-65 RD: Stepping up in grade, these coins are valued at $20. MS-65 coins exhibit sharp strikes and eye-appealing coloration.
- MS-66 RD: At a price of $27, these coins have superior strike quality and minimal blemishes that only a trained eye might catch.
- MS-67 RD: Highly sought after by collectors, these coins fetch around $1,100 due to their exceptional condition and brilliant color.
These values reflect the growing interest in collecting coins of historical significance and aesthetic beauty. Whether you’re a seasoned collector or new to the hobby, these mint state coins offer both investment potential and a tangible connection to the past.
What are the Different Mint Marks on 1964 Pennies?
The mint mark on a penny indicates where it was produced. In 1964, the U.S. Mint produced pennies at three facilities: Philadelphia (no mint mark), Denver (‘D‘ mint mark), and San Francisco (‘S‘ mint mark for special mint sets). Each mint mark plays a role in determining the coin‘s rarity and value.
Coins from the Denver Mint are often sought after for their unique characteristics and potential errors, while those from the Philadelphia Mint are more common. Understanding these mint marks can help collectors identify which coins are worth pursuing for their collections.
What are Common Errors Found in 1964 Lincoln Pennies?
Common errors in 1964 Lincoln pennies include the aforementioned double die and planchet errors. Another notable error is the “L on edge” variety, where the “L” in the word “Liberty” appears on the coin’s edge, adding to its rarity. These errors arise due to issues during the minting process, making them fascinating pieces for collectors.
To delve deeper into error coins, let’s explore some additional types:
- Cuds: This error occurs when a piece of the die on the rim cracks and breaks off. This defect allows metal to flow into the gap, forming a raised, blob-like area on the coin. Collectors often seek out these unique imperfections.
- Wrong Planchet Errors: These happen when the wrong coin blank, or planchet, is fed through the press. A classic example is a penny struck on a dime blank. Such errors are not just fascinating but can also be quite valuable, sometimes exceeding the worth of a variety coin.
- Off-Center Strikes: This error results from the coin blank not being fully seated in the press before being stamped. The result can be a coin with a significantly deformed shape, displaying only a partial design. These striking errors are especially popular among collectors and can command high prices, depending on the degree of misalignment.
By understanding these errors, collectors can better appreciate the nuances of minting mishaps and their impact on coin value. Whether you’re intrigued by the “L on edge” variety or the more dramatic Off-Center Strikes, these errors offer a glimpse into the fascinating world of numismatic anomalies.
How Does Coin Grading Affect 1964 Penny Value?
Coin grading plays a crucial role in determining the value of a 1964 penny. The Sheldon coin grading scale, which ranges from 1 (poor) to 70 (perfect), helps collectors understand a coin’s condition. A penny in uncirculated condition will command a higher price than one that has been heavily circulated.
Understanding the Grading Scale
Coins are meticulously evaluated on this 70-point scale, where a score of 1 indicates a coin so worn it is nearly unidentifiable, and a score of 70 represents perfection, with no damage or blemishes visible even under magnification. This scale provides a standardized method for assessing a coin’s physical state, which is critical for establishing its market value.
Lincoln Cents: The Role of Color
In addition to the standard grading scale, Lincoln cents are graded based on their color, which is categorized into three classifications:
- Brown (BN)
- Red-Brown (RB)
- Red (RD)
These classifications indicate how much of the original color remains, adding another layer of assessment. While these definitions are more subjective than the numerical grades, they significantly impact a coin’s desirability and value among collectors.
Color and Collector Appeal
Circulated Lincoln cents, and even uncirculated ones exposed to air, often develop a brown, chocolatey hue. Generally, Brown (BN) cents are less sought after compared to Red-Brown (RB) or Red (RD) coins. Red-brown cents retain a good portion of their original luster, and some collectors find that certain RB coins can have more eye appeal than a Red (RD) coin, despite the latter being traditionally considered superior. Red coins, with nearly all original luster, are typically only found in coins stored in ideal conditions, such as rolls or sealed containers.
Coins that are graded higher due to their exceptional condition, such as being red or having minimal wear, can significantly increase their market value. Collectors often invest in professional grading to ensure their coins are accurately assessed and valued.
Understanding RD, RB, and BN Lincoln Cents
When it comes to collecting Lincoln cents, color classification plays a crucial role alongside condition grading. The three primary color designations are Red (RD), Red-Brown (RB), and Brown (BN). These labels help collectors assess the coin’s visual appeal based on its original coloring.
Red (RD) Cents
- Characteristics: These coins boast nearly all of their original mint luster, showcasing a bright, vibrant red color.
- Value: Typically, RD cents are highly sought after, especially in older coins, as their pristine color indicates they’ve been well-preserved, often in sealed environments like rolls or airtight containers.
Red-Brown (RB) Cents
- Characteristics: RB cents retain a significant portion of their original red luster, but start to show some brown tones.
- Value: Collectors often appreciate RB cents for their unique beauty. Sometimes, an RB cent’s aesthetic appeal can rival or even surpass that of an RD coin in similar grades.
Brown (BN) Cents
- Characteristics: These coins display a complete or dominant brown color, resulting from natural oxidation over time.
- Value: BN cents generally hold less appeal than their RD or RB counterparts since the original shine is largely diminished. However, some collectors may appreciate certain BN cents for their historical character and patina.
Conclusion
The distinction between RD, RB, and BN is primarily about the preservation of original mint coloring in Lincoln cents. Each classification reflects a different level of exposure to environmental elements and appeals to collectors based on personal preferences and perceived beauty.
Where Can You Buy or Sell Rare 1964 D Lincoln Pennies?
Finding a reputable dealer to buy or sell your rare 1964 D Lincoln pennies is vital for any collector. One trustworthy option is Accurate Precious Metals, known for its focus on precious metals and coins. While it does not currently provide a place to store metal products, it plans to offer this service in the future.
When buying or selling, it’s essential to research the current market value and consult with knowledgeable dealers to ensure you make informed decisions. Auctions and coin shows can also be excellent venues to find rare coins or sell your collection to other enthusiasts.
Top Online Platforms to Sell Your 1964 Penny
If you’re looking to sell your 1964 penny online, here are some reputable platforms to consider:
- eBay: A popular marketplace with a vast audience.
- Pros: Wide reach, easy listing process.
- Cons: Fees can be high, risk of non-serious buyers.
- Heritage Auctions: Known for handling rare and collectible items.
- Pros: Trusted by collectors, potential for high returns.
- Cons: Competitive environment, auction fees.
- Coin Dealers: Many dealers offer online services.
- Pros: Expert appraisals, potential for direct sales.
- Cons: May offer lower prices compared to auctions.
When choosing a platform, weigh the pros and cons to find the best fit for your needs. By diversifying where you sell—through dealers, auctions, and online platforms—you increase your chances of reaching the right buyer and maximizing your penny’s value.
What are the Rarest 1964 Lincoln Penny Varieties?
The rarity of 1964 Lincoln penny varieties often lies in their errors. The 1964 SMS penny is particularly sought after, as it was produced in limited quantities and features a special finish. Additionally, error coins like the double die and the “L on edge” varieties are among the rarest and most valuable.
Key Varieties and Errors
To understand the full spectrum of 1964 Lincoln cent varieties, it’s essential to explore both the varieties and errors that collectors prize:
- 1964 Doubled Die on Reverse (DDR): This notable variety features doubling visible in the “States of” part of the “United States of America” inscription on the reverse. While not exceedingly rare, it holds significant value in higher grades.
1964 DDR Lincoln Cent Value
Auction Record: $187 for MS-64 RD (2012 – Great Collections)
Grade Price MS-61 RD $28 MS-62 RD $32 MS-63 RD $44 MS-64 RD $60 MS-65 RD $110 MS-66 RD $250 – Error Coins: These are a result of mechanical malfunctions or defects in the coin blank. Here are some common types to look out for:
- Cuds: Occur when a piece of the die breaks off, allowing metal to flow into the gap.
- Wrong Planchet Errors: Happen when a coin is struck on the wrong metal blank, such as a penny on a dime planchet.
- Off-Center Strikes: Result from a coin blank not fully entering the press, leading to partial designs and sometimes substantial collector interest.
Collectors should also pay attention to the condition of these varieties. Well-preserved coins, especially in uncirculated condition, can achieve higher prices at auction or through private sales. Understanding these nuances can greatly enhance your collecting experience and investment potential.
How to Care for Your 1964 Lincoln Penny Collection?
Caring for your collection of 1964 Lincoln pennies is crucial to maintaining their value. Store them in a cool, dry place, away from direct sunlight, to prevent tarnishing or fading. Using coin holders, such as flips or capsules, can further protect them from scratches and contaminants.
Regularly check your coins for any signs of wear or damage, and consider having high-value pieces graded by a professional service. Proper care will not only preserve their condition but can also enhance their resale value in the future.
FAQs
What are the most valuable 1964 pennies?
The most valuable 1964 pennies are those with rare errors, such as the double die, or those graded in uncirculated condition. A 1964 D penny with significant errors can be worth hundreds or even thousands of dollars.
To give a clearer picture of the top-valued 1964 Lincoln cents, let’s look at some record-breaking auction results and their finest known grades:
1964 Lincoln Cent Value
- Auction Record: $7,931 for an MS-67 RD grade achieved in 2010.
- Finest Known Grades: MS-67+ RD with 4 graded by PCGS and MS-66 RD with 1 graded by NGC.
1964-D Lincoln Cent Value
- Auction Record: $4,025 for an MS-67 grade achieved in 2012.
- Finest Known Grades: MS-67+ RD with 3 graded by PCGS and MS-66 RD with 3 graded by NGC.
1964 Proof Lincoln Cent Value
- Auction Record: $2,585 for a PR-70 grade achieved in 2017.
- Finest Known Grades: PR-70 with 10 graded by PCGS and PF-69 with 3,804 graded by NGC.
These details highlight the exceptional value that some 1964 Lincoln cents can achieve, particularly when they are in pristine condition or possess unique characteristics. Whether you’re a seasoned collector or just starting, understanding these values can help you appreciate the rarity and potential worth of these coins.
How can I tell if my 1964 penny is a rare error?
To determine if your 1964 penny is a rare error, carefully examine it for signs of doubling, misalignment, or unusual characteristics. Familiarizing yourself with known error types will help you identify potentially valuable coins.
Key Features of Rare 1964 Pennies
- Special Strikes: The most valuable 1964 pennies are special strikes with a distinctive “satin finish.” This finish is shinier than a regular penny but not as glossy as a proof coin.
- Color and Condition: A bright red color indicates a more valuable penny compared to brown or red-brown examples. Look for coins with no wear or scratches, as these are the most sought after by collectors.
- Error Coins: Examine your coin for errors such as being struck on the wrong planchet or having re-punched mint marks. These kinds of errors can significantly increase the penny’s value.
- Visual Cues: If your coin appears unusual in any way, it could be a rare find. However, distinguishing mint errors from later damage can be challenging, so consider consulting a professional if you’re uncertain.
By paying attention to these details, you’ll be better equipped to determine the rarity and potential value of your 1964 penny.
Where can I find information on 1964 penny values?
Resources such as coin value guides, online marketplaces, and professional grading services provide up-to-date information on 1964 penny values. Websites like PCGS and NGC can be particularly useful for current market trends.
Can I clean my 1964 pennies?
Cleaning coins is generally not recommended, as it can damage their surface and lower their value. If you must clean a coin, consult a professional to ensure it’s done correctly without harming its condition.
Summary of Key Takeaways
- The 1964 D Lincoln penny is significant for collectors due to its unique features and potential errors.
- Identifying errors like double dies or planchet errors can greatly increase a penny’s value.
- Coin grading affects how much a 1964 penny is worth, with uncirculated coins fetching higher prices.
- Understanding mint marks is crucial when assessing the rarity and value of 1964 pennies.
- Caring for your coins properly ensures they maintain their condition and value over time.
Sources
- PCGS. “Understanding Coin Grading.“ www.pcgs.com.
- Numismatic Guaranty Corporation. “Coin Price Guide.“ www.ngccoin.com.
- United States Mint. “Lincoln Penny History.“ www.usmint.gov.