1964 Miniature Penny Worth – In 1964, the Lincoln Memorial was featured on the reverse side of the cent instead of a design from President Lincoln’s head. Some people call them “small heads.” In almost all cases, even where there is no doubling visible, this 1964 miniature penny worth more than their face value as bullion or as circulated coins. In 1964, some people were told that the U.S. Mint had run out of planchets and used cent blanks from 1959 to create these smaller pennies.
Others say a new machine was installed in late 1963 to reduce the size of the dies so more material could be made for other denominations, including dimes and quarters. The result was about 153 million of these small pennies were minted in 1964.
The History of the 1964 SMS Penny
The SMS penny is a rare coin that was created in 1964. Only 600 of these coins were ever minted, making it a highly sought-after collectible item.
The story behind the SMS penny is an interesting one, and 1964 mini penny value has only continued to increase over the years.
The SMS penny was created as part of a promotional campaign in 1964 by the Iowa State Savings Bank. The bank was encouraging young people to open savings accounts, so they decided to create a commemorative coin for this purpose.
The SMS (Save Money – Spend Smart) penny was distributed through an extensive promotional program that involved mailing the coins to customers who opened new savings accounts.
These coins were also given out as rewards to customers who made deposits or conducted other transactions at the bank.
The SMS penny was made of bronze and featured the image of a Native American chief on one side. The reverse side of the coin showed the Iowa State Savings Bank logo.
Although 600 SMS pennies were minted, not all of them were given out. Some were donated to the Iowa State Museum, while others were kept by the bank for promotional purposes.
The SMS penny can be distinguished from other coins by looking at the letters “I.A.” engraved to its right on the front side of the coin. Since all other U.S. coins made in 1964 have no lettering engraved on the front side, this is a sign that the SMS penny was minted in 1964.
1964 Mini Penny Coin Values
It’s worth about 2 cents to buy a 1964 penny that’s been worn down a little. Even though there are some 1964 pennies with a lot more value than others, we’ll go into more detail about this in a moment, and we’ll also explain why all of these rare pennies are so valuable:
- 1964 Philadelphia Penny (Hardly A Mintmark) – There were 2,648,575,000 (2.6 billion) coins made. They ranged in value from 10 to 25 or more cents.
- Penny 1964-D (Denver) – There were 3,799,071,500 (approximately 3.8 billion) of them made. They cost 10 to 25 cents each.
- A 1964 Proof Penny – 3,950,762 were made, and they cost more than $1.
- 1964 SMS Penny (Unique Mint Set) – approximated to be minted; $5,000 and up
*Values are for coins that have not been used, have been proofed, or made into special mint sets. The 1964 miniature penny worth that don’t have any mistakes or special varieties is about 2 cents.
As you can see, billions of 1964 Lincoln pennies were made. There are still a lot of these pennies in your pocket change.
As it turns out, the 1964 Lincoln cent is among the most common Lincoln cents from before the 1982 Lincoln Memorial. Additionally, as has been usual, the United States Mint produced a limited quantity of 1964-proof pennies.
So Why Is The 1964 Miniature Penny So Valuable?
The 1964 miniature penny is a valuable coin because it was produced in limited quantities. Only about 20,000 of these coins were minted, making them a rare find for collectors. In addition to its rarity, the 1964 miniature penny is also prized for its historical significance.
This coin marked the beginning of a new era for the United States Mint. The U.S. Mint began producing 14-karat gold coins in the middle of 1964.
This meant that they produced most coins out of a mixture of copper and nickel, just like normal pennies, but also added some actual gold to the mix.
With this new production, method came many challenges for the minting process. While it was difficult to produce a 14KT penny, it was even harder to mint a coin that was half the size of one, which is why this penny is so valuable.
1964 was also the last year that Lincoln pennies were produced in large numbers. This means that there are less than 5000 of these coins left on the market, making them a rare and valuable find for collectors. If you’re lucky enough to own a miniature penny 1964, it’s worth anywhere from $40-$100.
So, if you happen to come across one in your spare change, be sure to hold on to it! It could be worth a lot more in the future.
Related: All About 1940 Wheat Penny Value
How To Tell If A 1964 SMS Penny Is Real
A 1964 SMS penny is a valuable coin worth anywhere from $3 to $200, depending on its condition. Because they are so rare, it can be difficult to identify a genuine SMS penny.
The easiest way to tell if a coin is an SMS penny is by its color. SMS pennies are copper in color, while regular pennies are bronze.
If your penny is not copper in color, then it’s not an SMS penny. However, there are some 1964 pennies that were accidentally produced in bronze instead of copper.
If you think your coin was made by accident. Here are some tips to help you determine if you have a genuine 1964 SMS penny.
- Look At the Date on The Coin: A genuine 1964 SMS penny will have “1964” stamped on it.
- Check The Coin’s Condition: A genuine SMS penny will be in good or uncirculated condition.
- Compare Your Coin to Pictures of Authentic 1964 SMS Pennies Online: Many online resources can help you determine if your coin is genuine.
If you are unsure whether your coin is a genuine 1964 SMS penny, take it to a coin dealer or auction house for evaluation. They will be able to tell you if your coin is worth anything and give you a more accurate estimate of the 1964 mini penny coin value.
Denver 1964 US Penny Errors
There are several types of Denver 1964 U.S. coin errors. One is the doubled die obverse. This error occurs when a die has been used twice to strike coins, causing a doubling of the design elements.
Another type of error is the off-center strike. This happens when the coin is not struck in the center of the planchet resulting in the doubling of one side of the coin.
The last type is a brockage error. This occurs when an incused design has been impressed into a previously struck coin, creating an indentation on one or both sides of the coin.
The most common type of error on a Lincoln cent is the off-center strike. This happens when the coin is not struck in the center of the planchet, resulting in doubling one side of the coin.
The 1964 miniature penny value of these coins depends on how far off-center the strike is. Coins that are only slightly off-center are worth a few dollars, while significantly off-center coins can be worth several hundred dollars. Another type of error on a Lincoln cent is the rotated reverse.
This occurs when the coin dies used to strike the coin are not properly aligned with each other, resulting in one or both of the obverse designs being faced in a wrong direction.
Lincoln cents with off-center strikes and rotated reverses are rarer than larger denominations because they were only minted for a few years and in smaller quantities. As a result, collectors are more sought after and can be worth significantly more than face value.
So, if you find a Denver 1964 U.S. coin error, be sure to take it to a coin dealer for an evaluation. The value of these coins can range from a few dollars to several hundred dollars, depending on the type of error.
- Other Types of Errors of Penny 1964
Several other types of errors can occur on a miniature penny 1964. One type is a struck coin error when the coin is not properly ejected from the die.
This can cause the coin to be off-center or have a double image. Another type of error is a planchet error, which is when the blank piece of metal used to make a coin is not properly cut. This can cause the coin to be deformed or have an incorrect thickness.
One of the most famous penny errors is the 1964-D Peace Dollar. This coin was mistakenly struck with a nickel planchet, which caused it to be significantly thicker than other pennies.
The Mint quickly recalled the error coins, but not before thousands of them were released into circulation. 1964-D Peace Dollars are worth between $50 and $3000, depending on whether or not the Mint has marked them.
Related: 1920 Penny Value is Worth
Future of 1964 Miniature Penny
The future of the 1964 U.S. coin penny is uncertain. Pennies are currently made out of copper and zinc, but the U.S. Mint is considering switching to steel for production.
This would save money on raw materials and make pennies marginally harder to counterfeit, but it would also mean that coins would no longer be magnetic (meaning they couldn’t be used in most vending machines or car washes).
The Mint is planning to make a decision soon. If they go ahead with the steel pennies, they probably won’t change the coin’s design but switch to steel only for its composition.
The current copper-plated zinc penny weighs 3.11 grams and measures 19mm in diameter. A steel penny would weigh 2.5 grams and measure 17.91mm in diameter.
It’s not clear whether the public would accept a steel penny or if businesses would have to adapt their machines to accept them. There is also the question of what to do with all the copper-plated zinc pennies currently in circulation.
The Mint has said that they would “take appropriate actions to manage the inventory and maximize the value of coins already in circulation.”
Looking for More Information About Coins? Check Other Years From This Lincoln Coin Series:
1999 2000 2001 2002
2003 2004 2005 2006
2007 2008
Conclusion:
The one-penny coin minted in 1964 is different because it was made of bronze rather than copper and larger than modern pennies. Only 20 million were minted, and they quickly disappeared from circulation.
When we look at Penny collecting, we’ve found that 1964 is a strange year for that. It doesn’t matter that most of them aren’t worth a lot, but if you find some rare things like the ones shown here, you could make a lot of money!
With only a few dollars, you could also receive a piece of art that will wow your friends and family with its beauty and quality.
This is a great way to start a Lincoln Cent collection or a collection of U.S. coins in general. Pennies are the most popular U.S. coins in the world.