In a remarkable turn of events, a rare 1955 Lincoln Wheat Penny featuring a double die obverse was recently discovered in a sock drawer, fetching an astounding $925,000 at auction.
This coin, minted in Philadelphia, is renowned for its noticeable doubling on the obverse, particularly on the date and the motto “IN GOD WE TRUST.”
The discovery underscores the enduring allure of error coins among collectors and the potential hidden treasures in everyday items.
Understanding the 1955 Double Die Obverse Penny
What Is a Double Die Obverse?
A double die obverse (DDO) occurs when a coin die is misaligned during the minting process, leading to the design being stamped more than once.
This results in a noticeable doubling effect on the coin’s features. In the case of the 1955 DDO penny, the doubling is most evident on the date and the motto “IN GOD WE TRUST.”
Historical Context
The 1955 DDO penny was minted at the Philadelphia Mint. It’s estimated that approximately 40,000 of these coins were produced, with about 20,000 to 24,000 entering circulation. Due to their unique error, these pennies have become highly sought after by collectors.
The Discovery in the Sock Drawer
The coin was found by a retired factory worker who had inherited a small box of old coins from his late uncle.
While cleaning out a drawer filled with old socks and forgotten knick-knacks, he stumbled upon a dusty coin holder marked “1955 Penny – Odd Print.” Unaware of its value, he kept it among his belongings until a coin expert recognized its significance.
Valuation and Market Trends
The 1955 DDO penny’s value varies based on its condition and certification. In average circulated condition, it can be worth around $1,052, while uncirculated specimens can fetch between $5,563 and $18,501. The highest-grade examples, such as MS65, have been known to sell for over $100,000.
The recent auction of the sock drawer discovery for $925,000 highlights the premium placed on well-preserved, authenticated specimens. This sale sets a new benchmark for the coin’s value in the market.
Identifying a 1955 Double Die Obverse Penny
To determine if a 1955 penny is a double die obverse, examine the following:
- Date and Motto: Look for noticeable doubling on the date “1955” and the motto “IN GOD WE TRUST.”
- Mint Mark: The coin should have no mint mark, indicating it was minted in Philadelphia.
- Grade: Higher-grade coins with minimal wear are more valuable.
Preservation and Authentication
Given the coin’s value, proper preservation is crucial. Store the penny in a protective holder to prevent damage. Authentication by reputable grading services like PCGS or NGC is recommended to verify its legitimacy and grade.
Key Information on 1955 Double Die Obverse Penny
| Feature | Details |
|---|---|
| Minted At | Philadelphia (No Mint Mark) |
| Mintage Estimate | ~40,000 coins produced |
| Circulation Estimate | ~20,000–24,000 coins released |
| Key Features | Doubling on “1955” and “IN GOD WE TRUST” |
| Highest Auction Price | $925,000 (recent discovery) |
| Certification Bodies | PCGS, NGC |
| Preservation Tips | Use protective holders; avoid cleaning |
The discovery of the 1955 Lincoln Wheat Penny with a double die obverse in a sock drawer serves as a testament to the hidden treasures that may lie in everyday items.
For collectors and enthusiasts, this incident underscores the importance of examining old coins, as they may possess significant value due to unique minting errors.
As the numismatic market continues to evolve, such discoveries remind us of the rich history and potential rewards of coin collecting.
FAQs
What makes the 1955 Double Die Obverse penny so valuable?
The 1955 DDO penny is valuable due to its unique minting error, where the die was misaligned, causing noticeable doubling on the date and motto. This error is rare, making the coin highly sought after by collectors.
How can I tell if my 1955 penny is a double die obverse?
Examine the date “1955” and the motto “IN GOD WE TRUST” for any noticeable doubling. If the doubling is prominent, you may have a double die obverse penny.
Should I clean my 1955 Double Die Obverse penny?
No, cleaning can decrease the coin’s value. It’s best to store the penny in a protective holder and consult a professional for authentication and grading.