What 1964 Penny Is Worth Money
When it comes to collecting coins, enthusiasts are always on the lookout for rare and valuable pieces. One such coin that has gained significant attention is the 1964 penny. While most pennies from this era are not worth much more than their face value, there are a few specific 1964 pennies that can fetch a pretty penny. In this article, we will explore the different types of 1964 pennies that are worth money and provide valuable insights for collectors.
1. The Copper Penny
During 1964, the United States Mint transitioned from using 95% copper composition for pennies to a cheaper copper-plated zinc composition. However, a small number of 1964 pennies were mistakenly struck with the 95% copper composition intended for the following year’s coins. These rare copper pennies are highly sought after by collectors and can be worth a significant amount of money.
According to the Professional Coin Grading Service (PCGS), a 1964 copper penny in uncirculated condition can be valued at around $40,000. Even circulated versions of this coin can fetch prices ranging from $500 to $10,000, depending on their condition and rarity.
2. The Doubled Die Obverse Penny
Another valuable variation of the 1964 penny is the doubled die obverse penny. This error occurred during the minting process when the die used to strike the coin was engraved with a doubled image. As a result, the coin exhibits a distinct doubling effect on the obverse side, particularly noticeable on the date and lettering.
The 1964 doubled die obverse penny is highly sought after by collectors due to its rarity and unique appearance. In 2019, a specimen graded by PCGS as MS-65 Red sold for a staggering $22,325 at auction. Even lower-grade versions of this coin can still command prices in the thousands of dollars.
3. The Proof Penny
Proof coins are specially made for collectors and have a higher level of detail and quality compared to regular circulation coins. In 1964, the United States Mint produced proof sets that included a 1964 penny. These proof pennies are made using a different minting process, resulting in a mirror-like finish and sharper details.
A 1964 proof penny in excellent condition can be worth around $10 to $20. However, if the coin is graded as a perfect Proof-70, its value can skyrocket to several hundred dollars. Collectors often seek out these proof pennies to complete their sets or to add a touch of elegance to their collections.
4. The SMS Penny
In 1964, the United States Mint experimented with a Special Mint Set (SMS) to replace the traditional proof sets. These SMS coins were struck with higher pressure and polished dies, resulting in a unique appearance that falls between regular circulation coins and proof coins.
The 1964 SMS penny is relatively rare, as the mint only produced a limited number of these sets. In uncirculated condition, an SMS penny can be worth around $5 to $10. However, if the coin is graded as MS-67 or higher, its value can increase significantly.
5. The Error Penny
Errors during the minting process can sometimes result in valuable coins. In the case of the 1964 penny, there are a few notable error variations that collectors seek out. One such error is the off-center strike, where the design is not properly aligned with the coin’s center.
Off-center strike 1964 pennies can be worth anywhere from $10 to $200, depending on the degree of the error and the coin’s condition. Other error variations, such as clipped planchets or double strikes, can also add value to a 1964 penny.
6. Frequently Asked Questions (FAQ)
- Q: How can I determine if my 1964 penny is made of copper?
- Q: Are all 1964 pennies valuable?
- Q: Where can I sell my valuable 1964 penny?
- Q: How can I protect my valuable 1964 penny?
- Q: Are there any other valuable pennies from the 1960s?
- Q: Can I find valuable 1964 pennies in circulation?
A: You can use a magnet to test the composition of your penny. If the penny sticks to the magnet, it is made of copper-plated zinc. If it does not stick, it may be a rare copper penny.
A: No, the majority of 1964 pennies are not worth much more than their face value. Only specific variations, such as the copper penny or the doubled die obverse penny, hold significant value.
A: You can sell your valuable 1964 penny through reputable coin dealers, online marketplaces, or at coin shows and auctions. It is recommended to have your coin graded and authenticated by a professional grading service before selling.
A: To protect your valuable 1964 penny, store it in a coin holder or airtight capsule to prevent damage from handling or exposure to air. Avoid cleaning the coin, as it can potentially decrease its value.
A: Yes, there are other valuable pennies from the 1960s, such as the 1969-S doubled die obverse penny and the 1960 small date penny. These coins, among others, can also be worth a significant amount of money.
A: While it is highly unlikely to find a valuable 1964 penny in circulation, it is not entirely impossible. It is more common to find these valuable coins through coin dealers, auctions, or by searching through rolls of pennies.
Summary
The 1964 penny holds a special place in the hearts of coin collectors due to its potential value. While most pennies from this era are not worth much more than their face value, there are a few specific variations that can fetch a significant amount of money. The copper penny, doubled die obverse penny, proof penny, SMS penny, and error penny are all sought after by collectors for their rarity and unique characteristics. It is important to have these coins graded and authenticated by professional services to ensure their value and protect them for future generations of collectors.