Seeing double? This one-cent coin could be worth over $100,000 and it could be in your pocket

Often in coin collecting what makes an item valuable is not that it’s perfect, it’s that something went wrong in the minting process, making the resulting coin rare, and hence highly collectible.

That can lead to coins like the 1943 Lincoln bronze cent, which was made out of bronze in error. It should have been made out of zinc-coated steel, with the Mint having stopped using bronze which was needed for the war effort. Around 20 bronze Lincoln cents have been discovered, with the most expensive being sold for $1.7 million.

The doubled up cent - worth more than double the money

A different kind of error led to what is known as the 1955 Doubled Die Lincoln Cent, which is also highly sought after in American coin collecting (a hobby or profession known as numismatics).

In 1955, a misalignment occurred during the die-making process at the Philadelphia Mint, which meant the coin was engraved with an offset, leading to the coin having an almost ghostly doubling effect on the obverse side of the penny. It’s particularly noticeable on the year, 1955, and words “LIBERTY” and “IN GOD WE TRUST”.

How many Doubled Die Lincoln Cents were produced

Around 24,000 of the Doubled Die Lincoln Cents were produced, and by the time the error was discovered many of the coins had already been mixed in with other error-free cents before being released to circulation. The Mint decided to put the coins into circulation, because they had no way of separating out the Doubled Die coins and could not afford to scrap the entire quantity of cents with the Doubled Die cents mixed in, and they thought people would either not notice or be unbothered. However they soon did, and collectors began pushing up demand for the coin.

What is a Doubled Die Lincoln Cent worth?

The value of a 1955 Doubled Die Lincoln Cent varies greatly depending on its condition. In circulated condition, these coins can fetch between $1,000 and $10,000, but in mint condition, their value can rise significantly, with some specimens selling for upwards of $100,000. The highest-quality examples, graded as “Mint State” by professional coin grading services, are the most valuable.

One example, having a grade of MS65 Red, meaning it is not oxidised and therefore red rather than brown, was sold at auction for $125,000.

If you find what appears to be a 1955 Doubled Die Lincoln Cent in your possessions it’s worth having it professionally checked, because counterfeits do exist. People have tried to fake the doubling effect by modifying other Lincoln cents to recreate the error.