The 1969-S Lincoln Memorial Cent minted at the San Francisco Mint may be worth up to $600,000 due to what is referred to as a “Doubled Die Obverse” mistake made during the minting process. (Stack’s Bowers Galleries)
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A penny minted at the San Francisco Mint in 1969 may be worth up to $600,000 due to what is referred to as a “doubled die obverse” mistake made during the minting process.
Stack’s Bowers Galleries says a doubled die happens when a coin die gets a misaligned secondary impression from a hub during manufacturing and results in the design appearing doubled.
According to Stack’s Bowers Galleries, the 1969-S Lincoln Memorial Cent Doubled Die Obverse “is an extremely desirable variety, having an estimated population of 50 to 60 pieces based on combined certification service statistics.”
What they’re saying:
Online precious metals e-commerce company SD Bullion calls the coin “The most famous error coin from the Lincoln penny is the 1969-S Doubled Die Error, Lincoln Penny, with prices ranging from $31,500 to $605,000.”
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What you can do:
If you come across what you think is a rare and valuable coin, you should locate a reputable coin dealer to evaluate the coin. The American Numismatic Association, a nonprofit organization dedicated to coin collecting and the study of numismatics, has an online search directory to find a dealer near where you live.
US Mint ends production of the penny
The backstory:
In November, the U.S. Mint ended production of the penny, abandoning the 1-cent coins that were part of American culture for more than 230 years but became nearly worthless.
When the penny was introduced in 1793, it could buy a biscuit, a candle or a piece of candy. Now most of them are cast aside to sit in jars or junk drawers, and each one costs nearly 4 cents to make.
Billions of pennies are still in circulation and will remain legal tender, but new ones will no longer be made.
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