The 1955 Doubled Die Obverse is the most famous die variety among all Lincoln Cents, and it’s a coin that many contend was the first such “error” widely collected by mainstream numismatists. While it surely wasn’t the first doubled die to roll out of the Mint, the unintentional timing of its birth was surely serendipitous. It came to the fore just as the numismatic hobby was experiencing rapid growth and popularity in the United States.
The great numismatic author and founder of Stack’s Bowers Galleries, Q. David Bowers, wrote extensively about mint varieties in his many books, including thoughts on the 1955 Doubled Die Obverse Lincoln Cent in A Guide Book of Lincoln Cents (Whitman Publishing, 2008). “As to how the coins were made, I inquired at the Philadelphia Mint and learned that, on a particular day in 1955, several presses were coining cents, dumping coins into a box where they were then collected and mixed with cents from other coining presses. Late in the afternoon, a Mint inspector noticed the bizarre doubled cents and removed the offending die. By that time, somewhat more than 40,000 cents had been produced, about 24,000 of which had been mixed with normal cents from other presses.”
What did the United States Mint do? The most compelling part is relayed by Bowers this way: “The decision was made to destroy the cents still in the box, and to release into circulation the 24,000 or so pieces which were mixed with other cents. The Mint had no reason to believe that these would attract attention or have value with collectors. They were simply viewed as defective coins.”
In his November 25, 2006, “Making Cents” column published by The Signal, Lincoln Cent expert Dr. Sol Taylor expounds on the Mint’s leniency on releasing the 1955 Doubled Die Obverse Lincoln Cents for public consumption. “[The 1955 doubled die] was allowed to pass because there was a shortage of cents in the area due to the effects of Hurricanes Connie and Diane that had recently left a swath of destruction along the Atlantic Coast.”
A Star Is Born
Even if the 1955 Doubled Die Obverse is technically a “defective” coin, it certainly couldn’t have been any more perfect a variety for coin collectors. This coin, which now turns 70 years old, has sparked curiosity from generations of collectors with its drastic obverse doubling, seen in no ambiguity among the motto “IN GOD WE TRUST,” the inscription “LIBERTY,” and the date. The collector can easily detect the unmistakable presence of a 1955 Doubled Die Obverse Lincoln Cent with the unaided eye once they know what they’re looking for.
Millions looked for the 1955 “double die pennies,” as some mistakenly call them. And they turned up in many areas of the Northeast, frequently in 23-cent cigarette packs distributed by vending machines; these vending machines accepted only quarters, so the cigarette distributors wrapped two 1 cent coins in the cellophane wrapped to be given as change. In addition to being found in cigarette packages, the 1955 Doubled Die Obverse Lincoln Cents turned up in regular pocket change and rolls. And Americans kept looking for this valuable coin that so many had a realistic chance of landing in circulation.
Of the approximately 24,000 examples that may have escaped the Philadelphia Mint, a few thousand are estimated to survive. PCGS pegs the figure at approximately 15,000. Taylor explains in a March 26, 2005, “Making Cents” column for The Signal sums up this about the famous 1955 doubled die cent: “While not rare at all, it is very dramatic.”
The 1955 Doubled Die Cent’s Legacy For Collectors
Even if the coin is not categorically “rare,” it is certainly scarce and, perhaps for some, ranks as a quasi-key date. How so? Even if the acquisition of the 1955 Doubled Die Obverse Lincoln Cent isn’t mandatory to complete a basic date-and-mintmark set, many Lincoln Cent enthusiasts with the financial means to do so purchase one for their sets anyhow. There are numerous PCGS Registry Set categories that accommodate the 1955 Doubled Die Obverse Lincoln Cent, including the popular set titled “Lincoln Cents with Major Varieties, Circulation Strikes (1909-Present).”
Thankfully, the coin remains plentiful enough even in higher grades that thousands of collectors can own a high-quality example of the variety at any given time. “Since 1955 Doubled Dies were being found the same year in which they were released, many coins were pulled aside and preserved,” writes PCGS Price Guide Editor Jaime Hernandez for PCGS CoinFacts. “Because of this, most coins exist in AU grades and higher,” he concludes.
PCGS estimates suggest that around 7,000 examples are available in Mint State grades, though the plurality of these is in BN and RB grades, with a smaller fraction – perhaps some 1,200 – believed to exist in RD. Examples in MS65 are remarkably difficult to find in any color designation, with a couple hundred thought to exist in the grades of MS65 or better.
Retail values tell the tale in numbers. The coin sells for around $2,300 in AU50, but prices leap into the $4,000 territory for an MS63BN. An MS64RB costs closer to $9,000, and an MS65RD example will set the collector back by a whopping $60,000. The record price for the 1955 Doubled Die Obverse Lincoln Cent was hammered in 2018 for a PCGS-graded MS65+RD specimen that crossed the block at a Stack’s Bowers Galleries auction for the astonishing sum of $114,000.
The 1955 Doubled Die Obverse Lincoln Cent might cost a pretty penny, but it’s one coin that collectors will willingly chase for years if need be. And for good reason: there’s no other Lincoln Cent variety with visual pop and numismatic significance like it. Now counting 70 years in the annals of American numismatics, the 1955 Doubled Die Obverse Lincoln Cent is a coin that collectors are sure to love for generations to come.