American Coins & Gold rare coin pick of the week goes to:
The 1955 Double Die Lincoln Penny!
This penny is one of the most widely spread error coins the US Mint has ever created. It is very easy to spot the doubling text on the front of the coin within the date: 1955, the word “Liberty” and the phrase: “In God We Trust”. The back of this coin featured no errors leaving only the front of this coin flawed. Coins with errors like these end up being extremely rare coins due to their demand.
How Did It Happen?
The issue occurred when a die maker in the US Philadelphia Mint made a mistake with creating the die. In order to make up for this mistake the coin had to be pressed multiple times, and on the last time it is said to have rotated causing the words and date to have that double print. However, Lincoln’s face was left unharmed!
Rare Coin Slips Through The Cracks
There are levels of quality control that all coins and currency produced by the United States Mint must pass before being shipped out for circulation. But in this case the error slipping through the quality control of the night shift and ended up being mixed in with a batch of 10 million normal pennies. This left about 20 thousand 1955 Double Die Lincoln Pennies which went into circulation.
What Is It Worth?
This highest price this penny has sold for was in an auction for $50,000 during the summer of 2006. This circumstance featured a very good condition 1955 Double Die Penny which is why the payout was so high. But even slightly worn versions still have incredible demand within the rare coin collector world. One in average condition can sell for upwards of $1,000 dollars!
Beware Of Fakes!
Since this coin has so much demand and is constantly sold for a good chunk of change, it is no wonder why people are replicating this rare coin and tricking the beginner coin buyers and in some cases even more experienced coin dealers. Your best bet is to get the coin evaluated by a professional so you can be sure you know what you have, and if it is authentic or not. It’s always better to be safe than sorry!
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