If you’ve ever glanced at your loose change and thought, “This can’t be worth more than a few cents,” you might want to take a closer look especially at your old pennies. One 1964 Lincoln penny recently sold for an eye-popping $19,000, and it wasn’t just luck. It had something truly special going on.
In this beginner-friendly guide, we’ll walk you through why this humble penny was worth a small fortune, how to spot valuable coins in your pocket change, and what beginner collectors should know about 1964 Lincoln cents.
Why 1964 Pennies Matter to Collectors
The 1964 Lincoln penny, officially known as the Lincoln Memorial cent, was struck by the U.S. Mint during a time of high production. Over 6.4 billion of them were made at the Philadelphia and Denver mints, making them one of the most common coins in circulation.
So why are some of them worth thousands?
It all comes down to rare errors, special varieties, and pristine condition. While most 1964 pennies are only worth their face value, a select few can sell for thousands under the right circumstances.
What Made This $19,000 Penny So Valuable?
Let’s break down what made this particular 1964 penny so unique and why it commanded such a high price:
| Feature | Reason for High Value |
|---|---|
| Minting Error | Doubled die or off-center strike – rare and collectible |
| Condition | Graded MS67 or higher (mint state – nearly perfect) |
| No Mint Mark | Indicates it was struck in Philadelphia, adding intrigue |
| Red Luster | Bright red copper finish still intact |
| Certified by a Reputable Grading Service | Such as PCGS or NGC, confirming its authenticity and grade |
In many cases, it’s not just one factor but a combination especially error + high grade + eye appeal that drives up the value.
What Is a Doubled Die Penny?
One of the most valuable types of error coins is the doubled die, which occurs when the coin’s design is mistakenly stamped twice by the minting die at slightly different angles.
On a 1964 doubled die penny, you might notice:
- Slight but visible doubling of the date
- Doubled letters like “LIBERTY” or “IN GOD WE TRUST”
- Doubling on Lincoln’s eye or jacket lines
These kinds of flaws are rare and that rarity drives the value. In pristine condition, a 1964 doubled die penny could be worth several thousand dollars or more.
How to Tell If Your 1964 Penny Is Valuable
Think you might have a special penny sitting in a jar or tucked away in an old coin collection? Here are a few things to look for:
1. Check for Errors
Look closely (you may need a magnifying glass or jeweler’s loupe) for any unusual marks:
- Doubled letters or numbers
- Off-center images
- Missing design elements
2. Evaluate the Condition
Is your penny clean, shiny, and free of scratches? The highest-valued coins are graded MS (Mint State), meaning they have never been in circulation. Even a circulated penny in very fine condition can fetch a premium if it has an error.
3. Get It Professionally Graded
Send your coin to a trusted grading service like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company). A professional opinion can dramatically increase the value if your coin is rare or in top condition.
Tips for Beginner Coin Collectors
If you’re new to coin collecting, especially U.S. pennies, here are some quick tips to get you started:
Start at Home
Go through your change jars, old piggy banks, and family collections. Older coins often hide in plain sight.
Learn the Basics
Familiarize yourself with coin terminology terms like obverse (front), reverse (back), mint mark, die, and strike so you know what to look for.
Focus on Key Dates and Errors
Not all old coins are valuable, but certain years (like 1964) and specific errors are goldmines for collectors.
Buy Smart
Avoid overpaying on eBay or Facebook Marketplace. Instead, buy from trusted dealers or attend coin shows where coins can be inspected up close.
Is Your 1964 Penny Worth Thousands?
It could be. But most 1964 pennies are only worth a few cents unless they meet very specific criteria usually a combination of rarity, condition, and authentication.
That said, every valuable penny that shows up started in someone’s pocket. So it’s always worth taking a closer look before tossing it in the coin jar.
Final Thoughts
The story of a 1964 penny selling for $19,000 is more than just a headline it’s a reminder that treasures can still be found in everyday places. Whether you’re a casual collector or just curious, coin collecting is a rewarding and fascinating hobby that could even pay off big.
So next time you come across a 1964 penny, take a moment to inspect it closely. You might just be holding a miniature fortune.
FAQs
Q: How many 1964 pennies were made?
A: Over 6.4 billion across the Philadelphia and Denver mints.
Q: Are 1964 pennies made of copper?
A: Yes, they are made of 95% copper and 5% zinc.
Q: How much are regular 1964 pennies worth?
A: In average circulated condition, they’re worth about 2 to 5 cents. But rare errors or high-grade examples can fetch hundreds or even thousands.