If you’ve ever been given a penny and tossed it aside, thinking it was just another low-value coin, you might want to think again. There’s a rare type of penny that could actually be worth thousands of dollars! The 1972 Doubled Die Lincoln Penny is one such example, and it’s highly prized among coin collectors. What makes this penny so valuable? It’s all about an error that occurred when the coin was being made. This article explains the 1972 Doubled Die Penny’s value, how to spot one, and why it might be worth a small fortune.
What is a Doubled Die Penny?
A “doubled die” is a term used in coin collecting to describe a coin that has a minting error where the image on the coin is doubled or misaligned. This happens when the die used to stamp the coin gets struck more than once, but not perfectly aligned. This creates a noticeable doubling effect in the images or text on the coin.
In the case of the 1972 Lincoln Penny, the doubling can be seen on the inscriptions, such as the word “LIBERTY,” the phrase “IN GOD WE TRUST,” and the year “1972” on the front (obverse) side of the penny. The doubling is easy to spot, even without magnification, and this makes the 1972 Doubled Die Penny one of the most exciting finds for collectors.
How Many 1972 Doubled Die Pennies Were Made?
Around 20,000 of these error pennies were created at the Philadelphia Mint in 1972. This is a very small number when compared to the total mintage of over 2.9 billion pennies produced that year. Because there are so few of them, the 1972 Doubled Die Penny is extremely rare and valuable to collectors. The rarity of these coins makes them highly sought after, especially by those looking for unique and historic pieces to add to their collections.
Identifying the 1972 Doubled Die Penny
It’s important to know how to spot a 1972 Doubled Die Penny if you think you might have one. Here are some things to look for:
- LIBERTY: The word “LIBERTY” will have doubling that points downward, in the south direction.
- IN GOD WE TRUST: Look for the doubling on this phrase, which is usually found toward the southwest.
- 1972 Date: The numbers of the year 1972 may show doubling toward the southwest direction.
You can use a magnifying glass to help you see the doubling more clearly. Sometimes, just checking these areas carefully will let you know if you’ve found something special.
The Value of the 1972 Doubled Die Penny
The value of a 1972 Doubled Die Penny depends on its condition. The coin’s grade is an important factor in determining its worth. Here’s how the value changes based on its condition:
- Circulated Condition: If the penny has been used and shows signs of wear, it could be worth anywhere from $75 to $300.
- Uncirculated Condition (Mint State):
- MS63 (Mint State 63): Around $290.
- MS65 (Mint State 65): Around $1,000.
- MS67 (Mint State 67): This high-grade penny can be worth over $3,000!
The penny’s color also affects its value:
- Brown (BN): A penny with a brown patina (oxidation) due to age.
- Red-Brown (RB): A penny with a mix of red and brown tones.
- Red (RD): A penny that retains its original red color and is the most valuable.
For example, a 1972 Doubled Die Penny graded MS67RD (Red) has sold for more than $14,000 at an auction.
Comparing the 1972 Doubled Die Penny to Other 1972 Pennies
To put things into perspective, here’s how the 1972 Doubled Die Penny compares with other types of 1972 pennies:
| Variety | Mintage | Value Range (Uncirculated) |
|---|---|---|
| 1972 No Mint Mark | 2,933,255,000 | $0.20 – $0.40 |
| 1972-D (Denver) | 2,665,071,400 | $0.20 – $0.40 |
| 1972-S (San Francisco) | 376,939,108 | $0.50 – $0.75 |
| 1972 Doubled Die Obverse | ~20,000 (estimated) | $75 – $14,000+ |
As you can see, the 1972 Doubled Die Penny is extremely rare, and it’s worth much more than the regular 1972 pennies, which are worth only a few cents.
Auction Sales of the 1972 Doubled Die Penny
The 1972 Doubled Die Penny has sold for impressive amounts at auctions. For instance:
- One coin graded MS67RD sold for $14,400!
- Another similar coin fetched around $1,150.
These sales show that collectors are willing to pay a lot of money for this rare penny, especially if it’s in excellent condition.
Tips for Collecting the 1972 Doubled Die Penny
If you’re lucky enough to find a 1972 Doubled Die Penny, here are some important tips to keep in mind:
- Get It Authenticated: Since the penny is so valuable, counterfeits do exist. It’s important to have your coin authenticated by trusted grading services, like PCGS or NGC.
- Protect Your Coin: Always handle your coins by the edges and store them in protective holders to keep them in the best condition.
- Stay Updated: The value of coins can change. Make sure to check price guides and auction results regularly to stay informed about the current value of your coin.
The 1972 Doubled Die Lincoln Penny is a prime example of how a small mistake in the minting process can turn an everyday coin into a highly valuable collector’s item. Whether you’re a serious coin collector or just someone who loves to look through your change, finding a 1972 Doubled Die Penny could be the start of a great discovery.
Guilderland Historical Society
FAQs
What is a Doubled Die Penny?
A Doubled Die Penny is a coin with a minting error where the images are doubled due to the die being misaligned.
How much is a 1972 Doubled Die Penny worth?
It can be worth anywhere from $75 to over $14,000, depending on its condition and grade.
How can I identify a 1972 Doubled Die Penny?
Look for visible doubling on the words “LIBERTY,” “IN GOD WE TRUST,” and the year “1972.”