In a remarkable turn of events, a rare 1958 Doubled Die Lincoln Cent, discovered tucked away in a grandfather’s photo album, has fetched an astounding $1.136 million at auction.
This coin, known for its significant minting error, is one of only three known specimens, making it a highly sought-after treasure among numismatists.
The Discovery
The coin was unearthed during a family’s routine sorting of old photographs and memorabilia. Nestled among the pages was a 1958 Lincoln Cent exhibiting the distinctive characteristics of a doubled die error.
Upon professional evaluation, it was confirmed to be one of the elusive 1958 Doubled Die Obverse cents.
Understanding the 1958 Doubled Die Lincoln Cent
A “doubled die” error occurs during the coin minting process when the die used to strike the coin has a misalignment, resulting in a duplication of design elements. In the case of the 1958 Lincoln Cent, this error is prominently visible in the inscriptions:
- IN GOD WE TRUST
- LIBERTY
- 1958
These features exhibit noticeable doubling, making the coin distinguishable even to the untrained eye.
Rarity and Value
The 1958 Doubled Die Lincoln Cent is exceptionally rare, with only three confirmed specimens:
- MS65RD (Mint State 65 Red)
- Two MS64RD (Mint State 64 Red)
The recent discovery adds to this exclusive list, making it the fourth known example. Its pristine condition and rarity contributed to its record-breaking auction price.
Auction Details
The coin was auctioned by GreatCollections, a renowned numismatic auction house. The bidding was intense, reflecting the coin’s desirability and rarity. The final hammer price was $1.136 million, setting a new record for a 1958 Doubled Die Lincoln Cent.
Comparison with Other Doubled Die Cents
While the 1955 Doubled Die Lincoln Cent is more widely known due to a higher number of specimens, the 1958 variant surpasses it in rarity and value.
The 1955 version has approximately 20,000 known examples, whereas the 1958 has only four, making it a pinnacle of rarity in the Lincoln Cent series.
| Feature | Details |
|---|---|
| Year | 1958 |
| Type | Doubled Die Obverse Lincoln Cent |
| Known Specimens | 4 |
| Recent Auction Price | $1.136 million |
| Distinctive Features | Doubling on IN GOD WE TRUST, LIBERTY, 1958 |
| Grade of Recent Find | MS65RD |
| Auction House | GreatCollections |
The discovery and subsequent auction of the 1958 Doubled Die Lincoln Cent highlight the enduring allure of rare coins.
This event serves as a reminder that hidden treasures can be found in the most unexpected places, and the world of numismatics continues to captivate collectors and enthusiasts alike.
FAQs
What makes the 1958 Doubled Die Lincoln Cent so valuable?
Its extreme rarity, with only four known specimens, and the prominent doubling error make it highly valuable to collectors.
How can I identify a doubled die coin?
Look for noticeable doubling in inscriptions and design elements. Consulting a numismatic expert or using magnification tools can aid in identification.
Are there other valuable doubled die coins?
Yes, the 1955 Doubled Die Lincoln Cent is also valuable, though more common than the 1958 variant.