Grading 1964D Lincoln Penny: The Difference Between $10 and $1,000

Introduction: The Critical Role of Condition

Condition is everything. Here is how to look at the high points and fields to determine the true grade of this piece.

Historical Context: The 1964D Lincoln Cent

The 1964D Lincoln cent represents a fascinating period in American numismatic history. Struck at the Denver Mint with a mintage of over 2.6 billion pieces, this coin was produced during a time of significant economic change in the United States. The composition remained the traditional bronze (95% copper, 5% tin and zinc), which would be modified just a few years later in 1982.

Design Elements and High Points

The Lincoln cent design features several critical high points that wear first and determine the coin’s grade:

• Lincoln’s hair curls above the ear
• The bow tie knot
• The coat lapel
• The wheat ear stalks on the reverse

Grading Breakdown: Understanding the Scale

Uncirculated Grades (MS60-MS70)

For a 1964D cent to achieve Mint State grades, it must show no trace of wear. The key indicators include:

• Full mint luster across all surfaces
• Strong strike definition at all high points
• No contact marks or bag marks
• Exceptional eye appeal

The difference between MS63 and MS65 can mean hundreds of dollars in value for a 1964D cent.

Extremely Fine (XF40-XF45)

In the Extremely Fine range, light wear is evident on the highest points:

• Lincoln’s hair above the ear shows slight flattening
• The bow tie retains sharp definition but shows minor wear on the knot
• The wheat stalks remain mostly distinct with only slight merging at the tops

Very Fine (VF20-VF35)

As wear progresses to the Very Fine range:

• Significant flattening occurs on Lincoln’s hair
• The bow tie shows moderate wear across the entire design
• Wheat stalks begin to merge, especially at the tops

Fine to Good (F12-G4)

In lower circulated grades, the design elements become increasingly soft:

• Major design features remain visible but heavily worn
• Lettering may begin to fade, especially on the reverse
• The rim remains intact but design details are largely gone

Strike Quality Assessment

Denver Mint Characteristics

The Denver Mint typically produced 1964 cents with good strike quality, though variations exist:

• Full collar definition
• Clear mint mark (“D”) below the date
• Generally sharp details on both obverse and reverse

Common Strike Issues

When grading, watch for these strike-related factors:

• Weak strikes on the bow tie or wheat stalks
• Die wear creating soft details
• Die cracks or cuds (though rare on this issue)

Luster and Surface Preservation

Original Mint Luster

The 1964D cent typically exhibits:

• Cartwheel luster when rotated under light
• Reddish-brown toning common due to copper content
• Potential for original red color in higher grades

Surface Issues to Note

Common surface problems that affect grade:

• Carbon spots (common on copper coins)
• Scratches or hairlines from improper cleaning
• Environmental damage or corrosion
• Roller marks (as mentioned in forum discussion)

Eye Appeal and Overall Presentation

Factors Affecting Eye Appeal

Professional graders consider:

• Color and toning patterns
• Surface cleanliness and originality
• Overall balance of the design elements
• Presence of any distracting marks or spots

Special Considerations

For the 1964D cent:

• Red coins command premiums
• Original, uncleaned examples are preferred
• Well-struck pieces with full details are valued higher

PCGS and NGC Grading Standards

Certification Benefits

Professional grading from PCGS or NGC provides:

• Authentication of the coin
• Guaranteed grade
• Encapsulation for protection
• Enhanced marketability and value

Population Reports

Understanding the rarity within each grade helps determine value:

• MS67 and higher grades are extremely rare
• Most uncirculated examples fall in the MS63-MS65 range
• Circulated grades are common

Value Guide by Grade

Circulated Grades

For typical circulated examples:

• Good to Fine: $0.05 – $0.25 (primarily copper value)
• Very Fine to Extremely Fine: $0.25 – $1.00

Uncirculated Grades

Uncirculated examples show more variation:

• MS60-62: $2 – $5
• MS63: $5 – $10
• MS64: $15 – $30
• MS65: $50 – $100
• MS66: $200 – $500
• MS67: $1,000+

Authentication and Counterfeits

Common Alterations

Watch for these modifications:

• Altered mint marks (though less common on 1964D)
• Cleaned surfaces attempting to appear uncirculated
• Re-toned coins to enhance appearance

Authentication Tips

When examining a 1964D cent:

• Check weight (3.11 grams for bronze composition)
• Verify diameter (19mm)
• Examine the “D” mint mark for proper style
• Look for signs of casting or tooling marks

Storage and Preservation

Proper Storage Methods

To maintain condition:

• Use archival-quality holders or flips
• Store in a cool, dry environment
• Avoid PVC-containing materials
• Handle by edges only

Cleaning Considerations

Professional advice on cleaning:

Never clean a potentially valuable coin without consulting a professional. Improper cleaning can significantly reduce value.

Conclusion: The Importance of Expert Grading

The 1964D Lincoln cent, while common in circulated grades, can be quite valuable in higher uncirculated conditions. Understanding the nuances of wear patterns, luster quality, strike characteristics, and overall eye appeal is essential for accurate grading. Whether you’re a collector seeking to complete a set or an investor looking for appreciating assets, proper grading knowledge is your most valuable tool.

Remember that even small differences in grade can translate to significant value differences. When in doubt, seek professional grading services to ensure you understand exactly what you have in your collection.

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