The 1964 SMS Penny, a coin issued by the United States Mint in 1964, was recently sold for an incredible $15,600 at an online auction in January 2019. This is one of the most expensive coins ever sold at auction, and it has caused quite a stir among numismatists and collectors.
In my opinion, this is the highest price that I have ever seen for the 1964 SMS penny.
See screenshot from online auction website:
Below you can visit the auction website:
This particular penny was initially minted to commemorate President Abraham Lincoln’s centennial year. Like other coins of this type, it features the Lincoln head on one side and the small-size motto “E Pluribus Unum” (out of many ones) on the reverse side. The main difference between this coin and its predecessors is its rarity: only 246,000 examples were struck that year by the Philadelphia Mint, making it one of the rarest coins in circulation today.
The particular coin, sold for $15,600, had remained pristine since its original minting date over fifty years ago. Its rarity meant that it had become highly sought after by collectors worldwide. At Auction Orlando’s online auction in 2019, two bidders competed for ownership of this historical piece of currency before it eventually sold for an eye-watering price.
The sale of this particular penny offered a unique insight into how much people are willing to pay for rare pieces of monetary history. To put it into perspective – a regular penny would generally retail at only around 1 cent – then you have this 1964 SMS Penny selling at a staggering 15 thousand times more than its face value! It serves as a reminder that even though these old coins may not have any monetary value as currency anymore – they can still be worth an enormous amount as collectibles or artifacts.
It’s not often that we see such a great price paid for something so small yet significant. Still, with Auction Orlando offering rare items on their virtual catalogs, we can expect to see more incredibly priced purchases in 2023!