The world of numismatics is filled with tales of rare coins fetching astounding prices at auctions. One such story is that of the 1917 Doubled Die Obverse (DDO) Lincoln Wheat Penny, a coin that has captivated collectors and investors alike. In 2019, a pristine example of this penny was sold for an impressive $120,000, highlighting its significance in the coin-collecting community.
Understanding the 1917 Doubled Die Obverse Penny
The 1917 DDO Lincoln Wheat Penny is renowned for its distinctive doubling error on the obverse side. This minting anomaly resulted in a noticeable duplication of the date and the inscription “IN GOD WE TRUST,” making it a standout piece among early 20th-century U.S. coins.
Key Features of the 1917 DDO Lincoln Wheat Penny
| Feature | Description |
|---|---|
| Year of Minting | 1917 |
| Mint Mark | None (Philadelphia Mint) |
| Obverse Design | Portrait of Abraham Lincoln with noticeable doubling on the date and “IN GOD WE TRUST” |
| Reverse Design | Two stalks of wheat encasing the denomination “ONE CENT” and the inscription “UNITED STATES OF AMERICA” |
| Composition | 95% copper, 5% tin and zinc |
| Diameter | 19.05 mm |
| Weight | 3.11 grams |
The Significance of the Doubling Error
The doubling on the 1917 penny is a result of a misalignment during the minting process, where the coin’s die struck the planchet twice, slightly offset. This error led to the prominent doubling of the inscriptions, making it easily identifiable even without magnification. Such errors are highly sought after by collectors due to their rarity and the intriguing glimpse they offer into historical minting practices.
Auction Highlights
In February 2019, a 1917 DDO Lincoln Wheat Penny, graded MS67+ Red by the Professional Coin Grading Service (PCGS), was auctioned for $120,000. This specimen is considered one of the finest known examples, with its exceptional grade indicating a coin in near-perfect condition with full original red luster. The combination of its rarity, error, and condition contributed to its remarkable auction price.
Factors Influencing the Value of the 1917 DDO Penny
Several factors determine the value of this rare penny:
- Condition (Grade): Coins are graded on a scale from 1 to 70, with higher numbers indicating better preservation. The 1917 DDO penny sold for $120,000 was graded MS67+, denoting superb condition.
- Color Classification: Copper coins are categorized as Brown (BN), Red-Brown (RB), or Red (RD), based on their coloration. Red coins, like the auctioned penny, are more desirable due to their original appearance.
- Rarity of the Error: The prominence and clarity of the doubling error significantly impact the coin’s value. The 1917 DDO penny’s distinct doubling makes it particularly valuable.
Collecting the 1917 DDO Lincoln Wheat Penny
For enthusiasts looking to add this coin to their collection, it’s essential to be aware of potential counterfeits. Authenticity can be verified through reputable grading services like PCGS or Numismatic Guaranty Corporation (NGC). Additionally, understanding the coin’s history and the specifics of the doubling error can aid in proper identification.
Conclusion
The 1917 Doubled Die Obverse Lincoln Wheat Penny stands as a testament to the allure of numismatic errors and the historical narratives they carry. Its impressive auction price of $120,000 underscores the value that collectors place on rarity, condition, and historical significance. As with all collectibles, the worth of such coins is not solely in their monetary value but also in the stories they tell and the passion they inspire among collectors.
FAQs
What is a Doubled Die Obverse (DDO) error?
A DDO error occurs when the coin’s die strikes the planchet more than once in misalignment, resulting in duplicated designs or inscriptions on the obverse side.
How can I identify a 1917 DDO Lincoln Wheat Penny?
Look for clear doubling on the date and the inscription “IN GOD WE TRUST” on the obverse side. The doubling is usually visible without magnification.
Why are coins with errors like the 1917 DDO penny valuable?
Minting errors are relatively rare, and such anomalies intrigue collectors. The uniqueness and rarity of these errors often lead to higher values in the numismatic market.
What does the “Red” (RD) designation mean in coin grading?
The “Red” designation indicates that the coin retains 85% or more of its original red copper color, making it more desirable to collectors compared to Red-Brown (RB) or Brown (BN) coins.
Where can I get my coin authenticated and graded?
Reputable grading services like the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) offer authentication and grading services for coins.
