ANSWERS: 4
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Quite simply because it was produced in mid-year, after the "official" release of the 1964 models, and before any "official" introduction of the 1965 models. In today's auto industry, introduction and release of new models comes and goes without much fanfare, but in the 60's, it was very much a celebrated occasion.
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It was a gimmick done by Ford. It added excitement to the car. The 1964 cars came out in late 1963. It was obviously to late to be considered a 1964 model. The worlds Fair was coming up and Ford wanted the car debuted there. It was a couple months to early for the 1965 models to hit the floors. hence, 1964 1/2
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Productin was probably delayed and someone got an ingenious marketing idea. I have a 84½ 20th Anniv edition, it came out mid-year. Another way to boost year round sales.
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Released in the spring instead of the (traditional) fall. ;-)
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