Lot 1277
1955. Doubled die obverse. PCGS graded MS-64 Red. Well struck and fully red. A very popular coin. Pop 135; 18 finer in 65RD
A shortage of circulating Cents during the summer of 1955 set the stage for the creation of this unusual error, perhaps the most famous error in all of U.S. numismatics. The increased demand for Cents this year compelled the Philadelphia Mint to speed its production schedule and, correspondingly, to lessen its quality control. As a result, an obverse die that had accidentally rotated between blows from the working hub slipped past the inspectors and ended up in the press. Paired with a correctly made reverse die, this obverse struck between 20,000 and 24,000 Doubled Die Cents between midnight and 8 o'clock in the morning one day during the summer of 1955. The error was not discovered until after these coins had been integrated with other properly produced 1955 Cents. Since he did not want to destroy 10 million Cents in order to stop the Doubled Die examples from leaving the Mint, Chief Coiner Sydney C. Engel decided to let them pass. The first example was discovered by the public in Massachusetts late in 1955, and the error became popular within a few years. While obtainable with patience in the EF-AU grades, the 1955/55 Doubled Die is truly rare at the finer levels of Mint State preservation.
A fiery red, almost pristine example of one America's most celebrated modern rarities! The story of the 1955 Doubled Die penny has caused countless numbers of children and adults to religiously rummage through their change. Produced by problems that arise during the multiple softenings and hubbings that occur during the production of a die, the 1955 is believed to have been produced during a graveyard shift the summer of that year (PCGS # 2827) .
Estimated Value $10,000 - 12,000.
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