The 1958 Doubled Die Lincoln Cent is one of the most elusive and valuable coins in American numismatics. With only three confirmed specimens, this coin has captivated collectors and investors alike, with pristine examples fetching over $1 million at auction.
Understanding the 1958 Doubled Die Error
A “doubled die” error occurs during the minting process when a coin die is impressed multiple times out of alignment, resulting in doubled images on the coin. In the case of the 1958 Lincoln Cent, this doubling is prominently visible on the obverse inscriptions:
- “IN GOD WE TRUST”: Noticeable doubling of the entire phrase.
- “LIBERTY”: Clear doubling of the letters.
- Date “1958”: Slight but discernible doubling, especially on the digit “8”.
These distinct features make the 1958 Doubled Die Obverse (DDO) cent easily identifiable to the trained eye.
Rarity and Discovery
The 1958 DDO cent remained unknown to the numismatic community until the early 1980s. Its late discovery and the minuscule number of known examples only three underscore its rarity. This scarcity elevates its status among collectors, making it a highly sought-after piece.
Notable Auction Sales
The exceptional rarity of the 1958 Doubled Die cent has led to remarkable auction results:
| Date | Auction House | Grade (PCGS) | Sale Price |
|---|---|---|---|
| March 2018 | Stack’s Bowers | MS-64 RD | $336,000 |
| January 22, 2023 | GreatCollections | MS-65 RD | $1,136,250 |
The 2023 sale set a new record for a Lincoln Cent at auction, highlighting the coin’s immense desirability.
Factors Influencing Value
Several factors contribute to the staggering value of the 1958 Doubled Die cent:
- Condition (Grade): Coins are graded on a scale from 1 to 70. Higher grades, indicating better preservation, command higher prices. The known examples are graded between MS-64 RD and MS-65 RD.
- Color Designation:
- Red (RD): Retains 95% or more of its original red luster.
- Red-Brown (RB): Displays a mix of red and brown tones.
- Brown (BN): Predominantly brown due to oxidation.
- Provenance: A well-documented history of previous ownership can enhance a coin’s appeal and value.
Authentication and Caution
Due to its rarity and high value, the 1958 Doubled Die cent is a target for counterfeiting. Collectors should seek authentication from reputable grading services such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC) to ensure the coin’s legitimacy.
Conclusion
The 1958 Doubled Die Lincoln Cent is a numismatic treasure, representing a unique minting error and an extraordinary rarity. Its significant auction prices reflect its esteemed status among collectors. For those fortunate enough to possess this coin, it is not only a valuable asset but also a remarkable piece of American minting history.
FAQs
What is a doubled die coin?
A doubled die coin features images or inscriptions that appear twice, slightly offset, due to a misalignment during the die creation process.
How can I identify a 1958 Doubled Die cent?
Look for clear doubling on the obverse inscriptions: “IN GOD WE TRUST,” “LIBERTY,” and the date “1958.”
Why is the 1958 Doubled Die cent so rare?
Only three specimens are known to exist, making it one of the rarest Lincoln Cent varieties.
What does “RD” mean in coin grading?
“RD” stands for Red, indicating the coin retains most of its original red copper luster, which is highly desirable among collectors.
How can I get my coin authenticated?
Submit your coin to reputable grading services like PCGS or NGC for professional authentication and grading.
