The 1969-S double die penny has become one of the most coveted coins in numismatic circles, captivating collectors with its rarity and unique design error. Valued at up to $37,200, this Lincoln penny is not just a piece of currency; it’s a fascinating artifact of American history, emblematic of the quirks of minting processes. Let’s delve into what makes this coin so special, how to identify it, and where you might find one.
Defining Features of the 1969-S Double Die Penny
The standout characteristic of the 1969-S double die penny is its “die doubling.” This occurs when a coin’s design is stamped twice, resulting in a strikingly clear duplication of features—most notably the date and engravings on the obverse (front) side. The doubling effect typically appears slightly misaligned, creating a ghosting effect that collectors find mesmerizing.
According to the Professional Coin Grading Service (PCGS), only about 30 examples of the 1969-S double die penny are known to exist today, making it incredibly rare. It is ranked as the second most sought-after coin in Schechter and Garrett’s “100 Greatest U.S. Modern Coins.” Its scarcity and unique design elements have turned it into a top target for collectors, often leading to fierce bidding at auctions.
The Coin’s Controversial History
When the 1969-S double die penny was first discovered in 1970, its peculiar appearance led to widespread skepticism. The U.S. Secret Service even suspected it was a counterfeit. However, upon closer inspection, they confirmed that it was indeed a genuine mint error. This initial confusion only fueled the coin’s allure and intrigue, as no additional examples have been found since.
Collectors are particularly enamored with its “satiny chestnut-brown surface” and “deep copper-orange undertones,” which contribute to its aesthetic appeal. The combination of rarity, history, and striking visual elements makes the 1969-S double die penny a collector’s dream.
Quick Facts About the 1969-S Double Die Penny
| Feature | Detail |
|---|---|
| Coin Type | 1969-S Lincoln Penny |
| Die Error | Double Die on Obverse |
| Estimated Value | Up to $37,200 |
| Grading | Mint State 63 brown |
| Composition | 95% Copper, 5% Zinc |
| Known Examples | ~30 |
Other Double Die Pennies Worth Collecting
While the 1969-S penny is the crown jewel of double die errors, it’s not the only one. The most famous of its peers is the 1955 Lincoln cent, which features a more pronounced doubling and ignited a frenzy among collectors upon its discovery. Other notable double die coins include the 1972 and 1995 Lincoln cents, although these are less valuable than the 1969-S.
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How Can You Get a 1969-S Double Die Penny?
Locating a 1969-S double die penny can be a daunting task, but they do occasionally appear at auctions. Mike Sadler, a prominent auctioneer at Heritage Auctions, describes this penny as a “must-have” for serious Lincoln cent enthusiasts. Most examples are graded as Mint State 63 brown, indicating they have some wear but are still in commendable condition.
Given its high value and desirability, attending coin auctions, especially those held by reputable auction houses like Heritage Auctions, can be a fruitful way to hunt for this elusive penny. Always ensure you’re buying from a reliable source to avoid counterfeits.
The 1969-S double die penny stands as a remarkable chapter in American coin history. With only around 30 known specimens in existence, its rarity is matched only by the intrigue surrounding its discovery and the striking characteristics of its design error. This penny isn’t merely a piece of currency; it’s a treasure that tells a story of human error, innovation, and the enduring passion of collectors. If you happen to find one in your possession, you could be holding a piece of numismatic history worth a small fortune. So, keep your eyes peeled for this iconic coin; you never know when you might uncover a treasure!