If you have a good eye for detail and a touch of luck, you can do well in coin collecting — especially when it comes to hidden treasures like the 1964 one-cent coin. This coin may look like any other Lincoln penny upon first glance; however, it has been sold for as much as $75,000 owing to its controversial origins and rare characteristics.
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The coin of a convulsive year
The year 1964 must have been a period of great transition for the U.S. Mint. The Kennedy half-dollar had just been introduced and, also, it was the last year for circulating coins that were 90% silver. Amongst all these events was not widely mentioned, the emergence of 1964 SMS (Special Mint Set) Lincoln cents.
The SMS was not made for mass production. These coins were not intended for circulation and were never mentioned in official publications at the time. Collectors learnt of the very existence of these coins many years later, and realized just how rare they were.
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A coin of the 1964 SMSs: What are they?
This means Special Mint Set. Such coins were prepared for detail and finished better than circulating coins proposed for commerce, yet not quite a proof coin. The U.S. Mint started with its SMS issue in 1965, making 1964 SMS cents all the more puzzling.
Experts suggest that only around 24 sets of 1964 SMS coins were made in all. The thinking among some is that they were test coins made for future sets, while others think they were coins from a proposed series of experimental collectors that never got launched.
Distinctive features make it valuable
The smattering finish would be the main distinguishing feature of the 1964 SMS penny. The surface can be described as smooth but slightly matte and highly refined. Unlike proof coins with a high gloss surface, an SMS coin has a satin finish. A numismatist very easily recognizes the sharpness of detail in Lincoln’s bust, clear lettering, and squared crisp edges.
These are subtle but important differences. It is, indeed, these fine points that elevate the coin from being just a penny worth a cent to a highly sought-after collectible that can command thousands of dollars, even tens of thousands.
Heeds to add mystery in appeal
The other major reason behind their sky value at present is the mystery surrounding them. These minted 1964 SMS cents were open to interpretation as, at no time, purpose or production were not officially documented.
Price offered for the coin is not dependent simply on its physical aspects; What’s more important to the collector is the story or the lack thereof. The speculation ignited by the unknown only increases demand. Add a scant handful of specimens known, and you have the makings of a recipe for auction prices climbing into the stratosphere.
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How much is it worth?
It will take good fortune to bump into one of such coins-it would fetch a large amount of money. In January 2025, a 1964 SMS Lincoln cent -MS67 (with a quality near-perfect mint state) sold above $19,000. However, in the highest conditions, such coins have been sold for as much as $75,000 at specialized auctions.
With all these, the price does keep on rising because the coin becomes known to more collectors. As with most collectibles, it’s all about scarcity and condition. The lower the number – and the better their condition – the higher the value.
Final thoughts: Don’t overlook the details
Seeing a 1964 Lincoln cent that shows sharp details while having a satin-like finish? Don’t throw it away. That very commonplace penny just might be one of the hardest coins for this decade to find. And, 1964 SMS coin from it, it might just pay you more than you ever dared to think for such a little thing.
Keep an eye out-the next hidden treasure might be right in your pocket.
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