Freehold, New Jersey
3710 U.S. 9
Freehold, NJ 07728
732-618-9292

Rare Coin Of The Week *Over $1,000?!* January 8, 2018

Freehold, Monmouth County
Rare Coin Of The Week *Over $1,000?!*, Freehold, New Jersey

American Coins & Gold rare coin pick of the week goes to:

The 1955 Double Die Lincoln Penny!

imageThis penny is one of the most widely spread error coins the US Mint has ever created.  It is very easy to spot the doubling text on the front of the coin within the date: 1955, the word “Liberty” and the phrase: “In God We Trust”.  The back of this coin featured no errors leaving only the front of this coin flawed.  Coins with errors like these end up being extremely rare coins due to their demand.

How Did It Happen?

The issue occurred when a die maker in the US Philadelphia Mint made a mistake with creating the die.  In order to make up for this mistake the coin had to be pressed multiple times, and on the last time it is said to have rotated causing the words and date to have that double print.  However, Lincoln’s face was left unharmed! 

Rare Coin Slips Through The Cracks

There are levels of quality control that all coins and currency produced by the United States Mint must pass before being shipped out for circulation.  But in this case the error slipping through the quality control of the night shift and ended up being mixed in with a batch of 10 million normal pennies.  This left about 20 thousand 1955 Double Die Lincoln Pennies which went into circulation.  

What Is It Worth?

This highest price this penny has sold for was in an auction for $50,000 during the summer of 2006.  This circumstance featured a very good condition 1955 Double Die Penny which is why the payout was so high.  But even slightly worn versions still have incredible demand within the rare coin collector world.  One in average condition can sell for upwards of $1,000 dollars!

Beware Of Fakes!

Since this coin has so much demand and is constantly sold for a good chunk of change, it is no wonder why people are replicating this rare coin and tricking the beginner coin buyers and in some cases even more experienced coin dealers.  Your best bet is to get the coin evaluated by a professional so you can be sure you know what you have, and if it is authentic or not.  It’s always better to be safe than sorry!

_________________________________________

Have A Rare Coin & Want To Know Its Value? Get Your Free Appraisal!

American Coins & Gold Open 7 Days A Week With 6 Stores In NJ & NY!

 

Other Announcements, Events and Deals from American Coins & Gold
What Determines Value in the Silver & Gold Buying Process?, Freehold, New Jersey
From analyzing inflation rates to evaluating supply and demand, there are many things to consider when putting a price tag on precious metals. American Coins & Gold, serving cust...read more
Top 5 Gold Buying Tips, Freehold, New Jersey
If you want to get started in the gold buying market, you’re not alone. In fact, many people across the country are beginning to see the value of this investment—and how it has the p...read more
The Top 3 Rare Coins You Might Not Even Know You Have, Freehold, New Jersey
At this point, change tends to be something kept in the car, or perhaps dropped in a jar with the intention of cashing it all in or saving it for a later date. It might be worth look...read more
How to Tell If You've Found Rare Coins, Freehold, New Jersey
Whether you’re an avid collector or not, rare coins are an exciting discovery. Not only are they an interesting find, but they’re a profitable way to make the most of your pocke...read more
How Do Rare Coin Appraisals Work?, Freehold, New Jersey
Here at American Coins & Gold we love when we are able to tell someone their rare coin is worth some serious cash.  It all begins with a no obligation appraisal process whic...read more