The 1964 D Lincoln Memorial Cent is often dismissed as a common coin, but as of late 2024, certain rare varieties and high-grade specimens are commanding prices well into the thousands of dollars. While the vast majority of these Denver-minted pennies are worth just a few cents above their copper melt value, a small handful of error coins and perfectly preserved "Red" examples have become a major focus for serious numismatists, with one specific grade estimated to be worth up to $4,750. Understanding the true worth of a 1964 D penny requires looking beyond its face value and focusing on two critical factors: the coin's technical grade (condition) and the presence of a rare minting error or variety. The coin's composition—95% copper—also means its intrinsic melt value (around 2.3 cents) is higher than its face value, a trend that began with the 1964 mintage year.

1964 D Lincoln Cent: General Value and Key Specifications

The 1964 D penny was produced at the Denver Mint, indicated by the "D" mint mark beneath the date. This year marks a significant point in the Lincoln Cent series as it was the last year the cent was produced with a 95% copper composition before the U.S. Mint began experimenting with a zinc-coated steel composition due to rising copper prices.

Key Specifications and Production Details

• Mint Location: Denver (D)
• Composition: 95% Copper, 5% Zinc (Bronze)
• Weight: 3.11 grams
• Mintage: 3,504,500,000 (Over 3.5 billion, making it very common in circulation)
• Face Value: $0.01 (One Cent)
• Copper Melt Value (Current): Approximately $0.023 (2.3 cents)

Value by Condition (Circulated vs. Uncirculated)

For a standard 1964 D penny without any errors, the value is heavily dependent on its condition, or grade. Most circulated coins are only worth their copper melt value.

• Circulated (Good to Extremely Fine): $0.02 to $0.10. These coins show wear and are only valuable for their copper content.
• Uncirculated (Mint State - MS-60 to MS-64): $1.00 to $15.00. These coins have never been in circulation and retain their original luster.
• High-Grade Uncirculated (MS-65 Red): $12.00 to $50.00. Coins with the "Red" (RD) designation are fully copper-colored and highly sought after by collectors.

The Top 5 Most Valuable 1964 D Penny Varieties

The real money in the 1964 D penny market comes from extremely high-grade examples and rare minting errors. These varieties drastically increase the coin's value, turning a common cent into a numismatic treasure.

1. The MS-67 Red (Full Red) Perfection

The highest value for a non-error 1964 D cent is reserved for coins graded MS-67 (Mint State 67) with a "Red" (RD) color designation. Achieving this grade is incredibly difficult due to the large mintage and the ease with which copper tarnishes.

• Estimated Value: $800 to $4,025+
• Record Sale: A 1964-D Lincoln Cent graded MS-67 Red sold for a record $4,025.00 at a Stack's Bowers auction in 2012.
• 2024 Market Update: While the record is older, a recent June 2024 sale of a slightly lower grade (MS-65 Red-Brown) still fetched $384, demonstrating strong current market demand for high-grade pieces.
• The MS-67+ Red: Only five examples are known to exist at the MS-67+ grade, with an estimated value of $4,750, making it the highest potential value for a standard 1964 D cent.

2. Doubled Die Obverse (DDO) and Reverse (DDR) Errors

Doubled Die errors occur when the die used to strike the coin has a slight misalignment during the hubbing process, causing a doubled image on the coin. These varieties are highly collectible.

• 1964 D Doubled Die Value: Values typically range from $25 to $200, depending on the clarity and severity of the doubling.
• Recent Auction Data: While the 1964 D Doubled Die Reverse is less common than the Philadelphia version, a non-D 1964 Doubled Die Reverse (FS-802, MS64 Red) was successfully auctioned for $384 in 2023, setting a modern benchmark for this error type.
• Key Entities to Check: Look for doubling in the letters of "LIBERTY," the motto "IN GOD WE TRUST," or the inscriptions on the reverse, such as "UNITED STATES OF AMERICA."

3. The Rare Off-Center Strike Error

An Off-Center Strike happens when the coin blank (planchet) is not properly seated in the coining chamber before the strike, resulting in a portion of the design being missing and a crescent of blank planchet remaining.

• Value Range: Off-Center Strike 1964 D cents typically sell for $50 to $150.
• Value Factors: The value increases significantly based on the percentage of the strike that is off-center (e.g., a 50% off-center strike is more valuable than a 10% off-center strike) and whether the date and mint mark are still visible.

4. Struck on a Foreign or Wrong Planchet Error

These errors occur when a blank planchet intended for a different coin, or even a foreign coin, is accidentally fed into the cent press at the Denver Mint.

• Struck on 10c Blank: A rare example of a 1964-D cent struck on a dime (10-cent) blank, which is smaller and made of a different material, sold for $310.
• Identifying This Error: The coin will be the wrong size or weight for a penny (3.11 grams) and may have a silver or nickel color if struck on a dime or other non-copper planchet.

5. The Controversial 1964 D Special Mint Set (SMS)

The 1964 Special Mint Set (SMS) coins are a highly debated and extremely rare variety. These coins were supposedly struck with highly polished dies and specially prepared planchets, giving them a Proof-like finish, but without the full mirrored fields of a standard Proof coin. The existence of a *1964 D SMS* coin is highly controversial, but if authenticated, its value would be astronomical.

• Value (If Authenticated): Authenticated SMS coins from 1964 (mostly Philadelphia-minted) can sell for $5,000 or more. A Denver-minted SMS would likely be even rarer.
• Identifying SMS Coins: Look for an extremely sharp strike, a satin-like luster, and lack of the heavy mirror finish found on regular Proof coins. Due to the controversy, expert authentication from PCGS or NGC is mandatory.

How to Determine the Value of Your 1964 D Penny

Determining the exact value of your 1964 D penny involves a systematic approach, especially when dealing with potential errors or high-grade coins.

1. Check for the Mint Mark and Date

Confirm the "D" mint mark is present below the 1964 date. Only coins from the Denver Mint (D) are relevant to this valuation guide. Coins without a mint mark were made in Philadelphia and have slightly different values.

2. Examine the Coin's Color and Luster

The color is a major factor in value. Grading services use three designations:

• BN (Brown): Over 90% brown surface. Low value.
• RB (Red-Brown): Mix of red and brown. Moderate value.
• RD (Red): Over 90% of the original bright copper-red color remains. Highest value. The difference between an MS-65 RB and an MS-65 RD can be hundreds of dollars.

3. Inspect for Doubling and Errors

Use a magnifying glass (at least 5x magnification) to check for the Doubled Die varieties. Look closely at the date, the letters in "LIBERTY," and the motto. True Doubled Die errors show distinct, separate lines, not just a fuzzy or shadowed appearance (which is called machine doubling and holds little value).

4. Consider Professional Coin Grading

If you believe you have a high-grade (MS-65 or better) or a clear error coin, professional grading is essential. Grading services like PCGS and NGC will authenticate your coin, assign a numerical grade (e.g., MS-67), and encapsulate it, which is required for maximum value realization at auction or sale.