Collectors Dashboard is continuously evaluating and analyzing collectibles now that what was previously for hobbyists has matured into an alternative asset class. Coin collecting and numismatics has a prominent role within the theme of collectibles as investments. After all, many traditional coin collectors have become numismatic investors over time.

There are key-date coins that every numismatics collector and numismatics investor need to know. These typically do not fit within many terms of being “low-priced” or “cheap.” On top of key date coins there are also many famous error coins that collectors and investors want to own. Some of the error coins are more scarce than others.

Collectors would agree that the 1955 doubled die Lincoln cent error coin, also know as the 1955 Doubled Die Obverse Lincoln Cent, is quite famous and sought after.

This may not be a key date coin in a numismatic understanding of the term. The 1955 doubled die Lincoln cent were created by a defect that made a very clear doubling of the date and the word Liberty on the coin. The coin should not be rare considering that over 300 million of regular 1955 Lincoln cent coins were minted.

What makes the 1955 doubled die Lincoln cent error scarce is that one die, which would be regularly changed out, created these collectible examples. These examples will range in price from $1,000 to $4,000 according to CoinQuest.com but there are other sales which have been higher (see below).

One issue that drives interest in the 1955 double die error coin for amateur collectors, serious collectors and even investors is that the U.S. Mint has strict quality control measures. The rare nature of coin-minting mistakes are almost always found and they are supposed to be melted back down with zero regard for collectability. This error coin was still released into circulation and is considered to be unique, which would be considered an embarrassment to a very rigid American institution.

Collectors took immediate notice around its appearance back in 1955. It is now also the most widely known and numismatically accepted error coin for collectors.

Its popularity has been characterized by the striking clarity and symmetry of a doubling of the date 1955. A misaligned Obverse die created the doubling of the date of the penny while not having much affect on the bust of Lincoln other than loss of detail. The Philadelphia minted coin is characterized by no mintmark below the date while other inscriptions such as IN GOD WE TRUST and LIBERTY are also doubled.

Estimates are as high as 40,000 for the 1 cent double die errors minted during one night of production at the Philadelphia mint. Those estimates then signal that perhaps 20,000 to 24,000 of the coins reached circulation as they were distributed through the cigarette vending machine circuit according to coinvalues.com.

While prices have been as much as over $24,000.00 on eBay, the PCGS auction tracker shows that the highest price ever was $114,000 for a MS65+RD PCGS through Stacks Bowers in March of 2018. And since the year 2000 there have been 8 other sales ranging from $40,000 to $62,000.

The highest populations of PCGS graded examples are 1260 AU58 and 19 AU58+. The value is listed at $2,000.00 for an AU58 and $2,050.00 for the AU58+ doubled die example. Comparatively the lowest PCGS graded 1955 Doubled Die penny is VF25 and its value fluctuated from $1,400.00 October 1, 2018 to $1,200.00 May 3, 2021.

In recent sales, Heritage Auction saw a January 2021 PCGS graded MS64 Red sell for $9,600.00 and nearly identical in grade MS64RD sell for $7,500.00. March 2021 saw many graded examples by both PCGS and NGC sell for above estimates. Stacks Bowers sold PCGS graded MS65BN for $6,600.00, an MS64RB for $5,040.00, and MS64RB for $6,000.00. An NGC graded MS64BN sold in March for $3,720.00 by Stack’s Bowers.

AU graded examples were numerous in sales for March for both PCGS and NGC. Sales of PCGS in March 2021 were as follows:

• Stacks Bower’s AU Details (cleaned) for $1,440.00
• Stack’s Bowers AU Details (cleaned) for $1,680.00
• Stack’s Bowers AU55BN for $1,800.00
• Heritage Auctions AU details for $1,560.00

Sales of NGC grades in March 2021 were as follows:

• Stack’s Bowers AU58BN for $1,680.00
• Stack’s Bowers AU58BN for $1,800.00
• Stack’s Bowers NGC graded AU55BN for $1,620.00

Error coins are collectible but the 1955 Doubled Die variant transcends understanding by having a coin so popular. Iconic can describe the look of the date 1955 so clearly separated from itself that the term Poor Man’s Doubled Die is used to reference separations that aren’t as clear in the spectrum of 1955 Doubled Die errors produced. The Poor Man’s is understood to be a more budget friendly version (such as $12.00 or so on eBay) but an opportunity to be a part of the excitement of owning a piece of the numismatic event.