If you’re a coin collector or just someone interested in rare finds, the 1969-S Doubled Die Obverse (DDO) Lincoln cent is a treasure worth knowing about.
This coin has a story that’s not only filled with intrigue and controversy but also makes it one of the most valuable pennies in the world today. It’s the kind of coin that could potentially fetch you thousands of dollars at auction.
Why Is the 1969-S DDO Lincoln Cent So Special?
The 1969-S DDO Lincoln cent stands out because of a rare minting error that caused a doubling effect on its front (the obverse).
This type of error is called a “doubled die” and it’s what makes this coin so rare and highly sought after. Doubling on this coin can be seen in three specific areas on Lincoln’s profile: his face, his bowtie, and the word “Liberty.”
This doubling is so visible that collectors can easily spot it with the naked eye, which is part of what makes it so popular.
But what really elevates this coin’s status is its rarity. Experts believe that less than 100 of these coins were ever produced, and even fewer survive today. This scarcity has driven up the value of the coin, making it a prized piece for collectors.
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A Controversial Start
The journey of the 1969-S DDO Lincoln cent begins in controversy. When this rare coin was first discovered in 1970, there was widespread suspicion about its authenticity.
At the time, two coin dealers, Roy Gray and Mort Goodman, had been caught producing counterfeit coins that mimicked the doubled die effect.
They even managed to sell 2,900 of these fake coins for $92,000. So when genuine 1969-S DDO pennies began appearing, the U.S. Secret Service assumed they were more of Gray and Goodman’s forgeries.
One of the most famous early finds was by a collector named Cecil Moorhouse, who found his 1969-S DDO in a roll of pennies he got from a local bank.
However, when he reported it, the Secret Service seized the coin, suspecting it was another fake. After further investigation by the U.S. Mint, it was determined that the coin was authentic and later returned to Moorhouse.
What Makes This Coin So Valuable Today?
The rarity of the 1969-S DDO Lincoln cent is one of its biggest value drivers. Experts estimate that only a few dozen of these coins are left in circulation today.
That’s why when one of these coins pops up at auction, it causes quite a buzz. The combination of its unique error and the small number of surviving examples makes it incredibly valuable to collectors.
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In fact, the Professional Coin Grading Service (PCGS) has only graded 11 of these coins as Full Red, which is a mark of their condition.
The coin coming up for auction in January 2024 is one of only four graded at MS63RD, a top-level grade indicating it’s in excellent condition with its original red color and luster intact.
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The 1969-S DDO Lincoln cent is expected to fetch a high price at auction, and it’s not the first time it has done so.
In 2009, one of these coins sold for $86,250 during an auction at the Whitman Expo U.S. Coin Signature Auction. The brilliant red color, combined with the dramatic doubling effect, makes this coin a standout piece in any collection.
While the coin has some minor surface marks and a small spot on the obverse near Lincoln’s tie, these imperfections do little to detract from its overall appeal.
The key feature, the sharp doubling on the front of the coin, remains clear and striking. Collectors know that owning such a rare piece of history is worth the investment.
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Conclusion
The 1969-S Doubled Die Lincoln cent is more than just a coin; it’s a piece of history that tells a fascinating story.
From its controversial beginnings to its status as one of the most sought-after pennies in the world, this coin continues to capture the imagination of collectors everywhere.
Whether you’re new to coin collecting or a seasoned pro, understanding the significance of this rare find is a must.
If you’re lucky enough to come across one, it could be your ticket to a significant payday—or a valuable addition to your collection that only grows in worth over time.
So next time you come across a roll of pennies, keep an eye out for this rare gem. Who knows? You might just discover a piece of history hidden in plain sight.