Within the Lincoln Wheat Cent series, the 1958 Doubled Die Obverse Penny is a rare and unique coin. It had been manufactured from 1909 and 1958. Because of its extreme rarity and significant historical worth, this unique combination struck in Philadelphia is one of the most popular coins in American numismatics. Limited to only three examples, this Lincoln cent is one of the rarest and most valuable ones that have been found, attracting the interest of both numismatic lovers and collectors.
History of 1958 Doubled Die Obverse Penny
The Lincoln Wheat Cent coin series, which occurred in 1909 to honor Abraham Lincoln’s birth centennial, includes the 1958 Doubled Die Obverse Penny. The series is known for its basic design and the introduction of multiple changes, such as the doubled die variations that have grown to be highly valuable to collectors.
This specific coin was produced by the Philadelphia Mint and has an important doubling on the obverse, particularly in the phrases “LIBERTY,” “IN GOD WE TRUST,” and the year “1958.” Only three examples of the 1958 change have been found to date, and considering it was produced around the same time as other, more common doubled die cents, it was generally ignored for decades. Only the most devoted collectors are aware of this popular Lincoln cent because of its extreme rarity.
Specification:
Designer: Victor David Brenner
Edge: Plain
Diameter: 19.00 millimeters
Weight: 3.11 grams
Mintage: 252,525,000
Mint: Philadelphia
Metal Composition: 95% Copper, 5% Tin and Zinc
Auction Record: $336,000 • MS64RD • 03-21-2018 • Stack’s Bowers
Design:
Obverse:
IN GOD WE TRUST is contained at the top surround of the bust of Abraham Lincoln. The date and mintmark, if any, are on the right side of the image, with the word LIBERTY to the left. The worlds of LIBERTY and IN GOD WE TRUST show bold doubling.
Reverse:
The words “ONE CENT, UNITED STATES OF AMERICA” are surrounded by wheat ears. E PLURIBUS UNUM is the motto situated on the top edge.
Rarity and Condition
The 1958 Doubled Die Obverse Penny is extraordinarily rare, with only three known examples, each in remarkable condition. The rarity of this coin is what sets it apart from other doubled-die varieties in the Lincoln cent series.
The three known examples have been graded by the Professional Coin Grading Service (PCGS) and Certified Acceptance Corporation (CAC), with the finest known specimen graded MS66 RD. This coin made history in January 2023 when it was sold by GreatCollections for $1.136 million, making it the first Lincoln cent to surpass the $1 million mark at auction.
The rarity and high demand for this coin have made it one of the most coveted pieces in the numismatic world. The condition of these coins, particularly the one graded MS66 RD, reflects their careful preservation over the years, contributing to their astronomical value.
Errors
A striking doubling on the obverse, known as a Class I doubled die, is the flaw that defines the 1958 Doubled Die Obverse Penny. When the coin-striking die receives multiple strikes from the center that are just out of position, this kind of error happens. The final result is a startling doubling of the design elements, which in the current example are seen in the words “LIBERTY,” “IN GOD WE TRUST,” and the year “1958.”
Even among other famous doubled die cents, this coin strikes out because of the importance of the doubling. The 1958 Doubled Die Obverse Penny’s doubling is completely visible that it can be seen with the naked eye, in contrast to many other doubled die variations where it must be seen with magnification. Because of this major error, the coin has become famous and has become an essential item for committed Lincoln cent collectors.
Value of 1958 Doubled Die Obverse Penny
The 1958 Doubled Die Lincoln Cent is a rare and valuable coin, with three known examples. This coin’s extreme rarity has given rise to auction prices that have established records. One of the PCGS MS64RD examples was most recently sold in March 2018, paying nearly $336,000, a record amount for this type of variation.
The first Lincoln cent to sell for more than $1 million at auction was the best-known sample, graded MS65RD, which paid a remarkable $1.136 million in January 2023. This coin continues to be in high demand and has become more valuable, making it one of the most desired and costly in the Lincoln Cent series.
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Conclusion
In addition to becoming a rare coin, the 1958 Double Die Obverse Penny is an important part of numismatic history. One of the biggest challenges for Lincoln cent collectors is that there are only three known examples of this coin with a recognizable and visible doubling error. Its exceptional quality and auction prices that established history confirm its place among the most valuable and desired coins in American numismatic history.