Posted by In a remarkable turn of events, a rare 1955 Doubled Die Lincoln penny was unearthed at a garage sale and subsequently sold at auction for an impressive $54,500.
This extraordinary find has reignited interest among numismatists and collectors alike, highlighting the enduring allure of rare coinage.
The 1955 Doubled Die Penny: A Numismatic Marvel
The 1955 Doubled Die Lincoln penny is one of the most celebrated error coins in U.S. history. Its fame stems from a misalignment during the minting process, resulting in a noticeable doubling of the coin’s design elements.
This error is most evident in the inscriptions “LIBERTY”, “IN GOD WE TRUST”, and the date “1955”, all of which exhibit clear doubling visible to the naked eye.
Discovery at a Garage Sale
The recent discovery of this rare penny occurred at a local garage sale, where an unsuspecting buyer purchased a collection of old coins.
Upon closer examination, the distinctive doubling on one of the pennies caught the buyer’s attention. Recognizing its potential value, the coin was authenticated and graded, leading to its eventual sale at auction for $54,500.
Factors Contributing to Its Value
Several factors contribute to the high value of the 1955 Doubled Die penny:
- Rarity: It’s estimated that approximately 20,000 to 24,000 of these error coins were minted, with only a fraction surviving in good condition today.
- Distinctive Error: The doubling on the coin is pronounced and easily identifiable, making it a standout piece among error coins.
- Historical Significance: As one of the most famous mint errors, it holds a special place in numismatic history.
- Collector Demand: The combination of rarity and notoriety makes it highly sought after by collectors.
Value Based on Condition
The value of a 1955 Doubled Die penny varies significantly based on its condition. Here’s a breakdown:
| Grade | Estimated Value (USD) |
|---|---|
| Good (G-4) | $1,000 – $1,500 |
| Fine (F-12) | $1,500 – $2,000 |
| Extremely Fine (EF-40) | $2,500 – $3,500 |
| About Uncirculated (AU-50) | $4,000 – $6,000 |
| Mint State (MS-60) | $7,000 – $10,000 |
| Mint State (MS-65) | $20,000 – $30,000 |
| Mint State (MS-67 RD) | $50,000 – $60,000+ |
Note: “RD” denotes a coin with original red luster, which is highly desirable among collectors.
Identifying a 1955 Doubled Die Penny
If you suspect you have a 1955 Doubled Die penny, look for the following characteristics:
- Doubling: Check for clear doubling on the inscriptions “LIBERTY”, “IN GOD WE TRUST”, and the date “1955”.
- Mint Mark: Authentic 1955 Doubled Die pennies were minted in Philadelphia and do not have a mint mark.
- Condition: The coin’s condition significantly affects its value. Coins with minimal wear and original luster are more valuable.
The discovery and subsequent sale of a 1955 Doubled Die penny for $54,500 underscore the potential treasures hidden in everyday places. Whether you’re a seasoned collector or a casual enthusiast, it’s worth examining your coin collection—you might just find a rare gem.
FAQs
How can I verify if my 1955 penny is the rare Doubled Die version?
Look for clear doubling on the inscriptions “LIBERTY”, “IN GOD WE TRUST”, and the date “1955”. Consulting a professional coin grading service can provide authentication.
Where can I sell a rare coin like the 1955 Doubled Die penny?
Reputable coin dealers, auction houses, and online marketplaces specializing in numismatics are good places to sell rare coins.
Are there counterfeit 1955 Doubled Die pennies?
Yes, due to its value, counterfeit versions exist. Always have your coin authenticated by a professional grading service to ensure its legitimacy.