1964 SMS Penny Value Guide: The 1964 SMS (Special Mint Set) Lincoln Cent is one of the most intriguing and scarce coins in modern U.S. coinage. Unlike standard circulation pennies, these coins display a satin-like finish, sharper details, and squared rims, making them highly coveted among collectors. Their rarity and distinctive features have established the 1964 SMS penny as one of the most valuable Lincoln cents in numismatic history.
1964 SMS Penny Value and Key Details
| Grade / Condition | Description | Approximate Value Range 2025 |
|---|---|---|
| Circulated | Common 1964 cent | 2 – 3 cents |
| Mint State | Regular strike | $1 – $20 |
| SMS SP65 | Special Mint Set, high-grade | $4,000 – $6,000 |
| SMS SP66 | Rare high-quality strike | $6,500 – $9,000 |
| SMS SP67+ | Top-tier examples, auction records | $10,000 – $19,000+ |
This table illustrates how the condition and certification of the coin significantly influence its market value, with certified high-grade examples commanding the highest prices.
What Makes the 1964 SMS Penny Special
The 1964 SMS penny stands out because it is neither a standard proof nor an ordinary circulation strike. It features:
- Satin-like surface instead of mirror-like proof fields
- Sharper details on Lincoln’s bust and inscriptions
- Squared rims and crisply defined edges
- Extremely limited production, with fewer than 30 known examples
Experts suggest these coins may have been experimental strikes during the transition from proof sets to Special Mint Sets in the mid-1960s, adding to their rarity and collector value.
Historical Background
The Lincoln Memorial design had been in circulation since 1959, and by 1964, billions of pennies were minted. However, the SMS version was never officially distributed to the public. A few specimens emerged in private collections, sparking debate among numismatists about their origin and authenticity. Today, they are considered one of the rarest and most elusive modern Lincoln cent varieties.
Collecting and Identifying 1964 SMS Pennies
Collectors and investors should verify the authenticity of any potential SMS penny. Key identifiers include:
- Satin-like surfaces instead of standard proof mirror fields
- Sharp, crisp details on Lincoln’s bust, lettering, and rims
- Certification by reputable grading services like PCGS or NGC
- Verification against known population and die markers
Because many regular 1964 cents are mistakenly assumed to be SMS coins, professional authentication is essential for determining true value.
Final Verdict
The 1964 SMS Lincoln Cent is a legendary rarity and a highly sought-after collectible. With market values ranging from several thousand dollars to nearly $20,000 for top-graded examples, it represents both historical significance and investment potential. Professional grading and authentication are critical for anyone fortunate enough to discover one of these extraordinary coins.
Disclaimer
This guide is for educational and informational purposes only. Coin values fluctuate based on condition, rarity, and market trends. Readers should consult certified numismatic professionals or grading services before buying or selling rare coins such as the 1964 SMS penny.