Rare 1958 Doubled Die Penny: A Collector’s Jackpot Waiting to Be Found

One In Rare 1958 Doubled Die Penny: Jackpot for Collectors
The 1958 Doubled Die Lincoln Cent remains one of the rare and expensive coins to find among American numismatics. With just three known examples, this error coin has kept collectors and investors on the edge at auction prices over $1 million.

The Doubled Die Error understood

This error in coins is caused by misalignment of impressions produced in the hub. Subsequently, it strikes the die that causes apparent doubling of design elements across the surface of the coin. This is true, for instance, in the case of the 1958 Doubled Die Lincoln Cent, where such noticeable doubling can be seen on:
IN GOD WE TRUST
LIBERTY
1958 (Date)

Key Specifications of the 1958 Lincoln Cent

Rarity and Discovery

Admittedly, the Philadelphia Mint produced just over 252 million pieces of Lincoln Cents during the year 1958, but only three specimens of the doubled die variety have actually been discovered.
The first of the coins would be brought to public attention in the early 1980s when it was discovered and presented at an ERRORAMA convention that was held in Cherry Hill, NJ. To find something with an error so significant after so many years of being produced makes it a scarce piece, but also incredibly piques the interest of collectors.

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Market Value and Auction Records

The 1958 Doubled Die Lincoln Cent is holding at quite fantastic heights in the numismatic marketplace:
March, 2018: An MS64 Red specimen sold for something like $336,000.
January, 2023: It realized a record-breaking auction price of $1,136,250 for a MS65 Red specimen from PCGS .
Records such as these grasp how treasured the coin is for buyers. They exhibit the premiums given for rarity and condition.

How to Identify the 1958 Doubled Die Cent

Identifying this coin very well may take the eye of a collector looking for:
Doubled Clear: Doubling apparent on the legends “IN GOD WE TRUST,” “LIBERTY,” and “1958.”
No Mint Mark: Meaning it was made at the Philadelphia Mint.
Very uncommon to find, but searching 1958 Lincoln Cents closely might just pay off for someone.

Preservation and Grading

Samples of the 1958 Doubled Die Cent are very few in existence, with textual grade ratings of MS64 Red and MS65 Red by the Professional Coin Grading Service (PCGS).
Fabled as having Red Grade: Such indicates that the coin is among exceptionally preserved items for the fact that it has retained at least 95% of the original red copper luster, vastly increasing its worth.

Conclusion

The Doubled Die Lincoln Cent of 1958 is that genuine treasure in the corner of coin collecting. All historical accounts and auction prices that break records make it the pride of collectors. Those chances of ever seeing one are almost non-existent, but the appreciation of this remarkable coin somehow lies in its features and history.

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