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Do you have a 1964 penny and want to know what it’s worth?

It’s possible that yours might be a type of rare 1964 penny — worth more than $5,000. Or you might just have a regular, worn 1964 penny — worth 2 to 3 cents.

But you won’t know for sure unless you find out more about 1964 pennies, what they’re worth, and which 1964 pennies are especially rare and valuable.

1964 Penny Values

Most worn 1964 pennies are worth the value of their copper content — or 2 to 3 cents, like other copper-based Lincoln Memorial pennies struck from 1959 through 1982. They weigh approximately 3.11 grams.

But some 1964 penny values are much higher. We’ll talk more about this in a minute and explain why some of these rare pennies are worth so much:

• 1964 Philadelphia penny (no mintmark) – 2,648,575,000 (2.6 billion) minted; 10 to 25+ cents
• 1964-D penny (Denver mintmark under the date) – 3,799,071,500 (about 3.8 billion) minted; 10 to 25+ cents
• 1964 proof penny – 3,950,762 minted; $1+
• 1964 SMS penny (special mint set) – approximately 30 estimated to be minted; $5,000+

*Values are for coins in uncirculated grade, proof finish, and special mint set finish. Circulated 1964 pennies with no errors or special varieties are worth approximately 2 to 3 cents. 

As you can see, the 1964 Lincoln penny was struck by the billions upon billions. Virtually all of these pennies went into circulation and can still be found in your pocket change. In fact, the 1964 Lincoln cent is one of the most common pre-1982 Lincoln Memorial pennies you’ll find in circulation today!

And, as in most years, the United States Mint struck a limited number of 1964 proof pennies as well.

Then there are the 1964 SMS pennies. What exactly are those?

The Story Behind The Rare 1964 SMS Penny

Yes, the 1964 SMS penny really is rare — and it really is worth $5,000!

So now you’re probably wondering what, exactly, a 1964 SMS penny is and how you can find one.

It’s a long story, but I’ll zip right to the main points:

1. There was a major coin shortage in the early 1960s — due to silver hoarders removing 90% silver dimes, quarters, and half dollars from circulation.
2. Some U.S. Mint officials blamed coin collectors for the coin shortage.
3. To focus efforts on making more circulating coinage, the U.S. Mint temporarily stopped producing the long-popular annual uncirculated sets and proof sets, and streamlined the production of coin sets to just a single collector product known as a “Special Mint Set” (SMS).
4. The Special Mint Sets of the 1960s include one coin of each denomination — and the SMS coins bear a satin-like (sometimes proof-like) finish.

Why they were made is unknown for sure. 1964 SMS pennies and other 1964 SMS coins may have been made as prototype coins for the 1965 Special Mint Sets. Or, perhaps they were intended for a 1964 Special Mint Set possibly including the 1964 Peace dollar. We’ll probably never know the true origin of 1964 SMS pennies for sure.

How To Identify A 1964 SMS Penny

Wondering how can you tell a 1964 SMS penny from a regular 1964 penny?

First, it should be noted that 1964 SMS pennies have normally appeared only in 1964 SMS sets. Therefore, 1964 SMS pennies aren’t the types of coins you will find in ordinary pocket change.

But that doesn’t mean you can’t find these rare 1964 pennies — if you’re lucky, of course! 1964 SMS pennies have turned up before in estates and in other seemingly ordinary situations.

Here’s how to tell SMS pennies apart from regular 1964 pennies and 1964 proof pennies:

• 1964 SMS pennies have a satin finish and are not reflective (or mirror-like) — as 1964 proof pennies are.
• The overall strike and details on the 1964 SMS penny are much sharper than on a circulation strike.
• One of the areas where the strong details show really well on the 1964 SMS penny is its rim. The rims of the 1964 SMS penny are more square in profile — similar to a 1964 proof penny.

So now you know… a 1964 SMS penny isn’t really the type of coin that you just find one day in your grandmother’s attic drawer and then flip at your local coin dealer for $5,000 in cash.

If you think you have a 1964 SMS penny, you should have it certified by a reputable 3rd-party coin grading firm such as PCGS, NGC, ICG, or ANACS.

Then, if you wish to sell it, enter it in a coin auction or offer it to a coin dealer who can pay you what it’s really worth:

• Some 1964 SMS pennies are worth $1,500 or $3,000.
• Others are worth more than the $5,000 average value listed here.
• The record price for a 1964 SMS penny is $11,500 — paid at an auction in 2005 for a “Red” specimen in MS-67. (Talk about a pretty penny!)

IMPORTANT: Do You Know The Grade Of Your Penny?

To determine the true value of your 1964 penny, you first need to know what condition (or grade) your coin is in.

Grab a coin magnifier and a copy of the U.S. Coin Grading Standards book. Then, watch this video to see how to grade coins yourself at home:

How To Grade A Coin Yourself To Determine Its Value

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More Info About The 1964 Penny

In addition to the links I’ve included above, here are some other resources to help you learn more about your 1964 pennies:

• Which Old Pennies Are The Most Valuable?
• Old Copper Pennies: Which Ones To Save & What They’re Worth
• 5 Rare Coins You’ll Find In The Lincoln Memorial Cent Series
• A List Of 43 U.S. Pennies Worth Holding On To