looking at this nice condition 1964 penny RD, can anyone give me a grade and estimate and would it be worth going up auction since buyers are bidding for high grade modern coins?
Grade-wise it is, unfortunately, nowhere near the level it would need to be in order to worthy of a submission, which is necessary in order to achieve the genuinely high prices paid for ultra-grade moderns. Value-wise you're looking at very little; well under $1 in the real world, but in eBay, who knows...
The hair, ear and jawline look like it took some hits. Almost worn. The steps have a hit also. The Rim near the L in LIBERTY looks bad. Your Cent is not that good of an example for good grading IMHO
Just to add to this for the OP's sake, the "issues" in the lower left quadrant are also particularly concerning, fields and jacket, and are severe enough that I would personally label it damaged. Otherwise, as treashunt said, generic "unc" is fitting, in large part because it makes little difference either way. If the OP is searching for coins that generally (or at least can) hold a premium above face, perhaps he should consider familiarizing himself with varieties. John Wexler once mentioned to me that there are "over 100 DDRs" known for the 64-P cent alone, and is just one example of the fact there's still lots out there to find even if only a tiny percentage are premium-worthy. While there are many excellent sites, this one would make for a fine start/introduction for one so inclined.... http://doubleddie.com/