An unexpected treasure was discovered in the most unlikely of places—a garage junk drawer. The find? A rare 1958 Doubled Die Obverse (DDO) Lincoln Penny that went on to sell for a stunning $56,000 at auction.
This penny, one of the rarest known errors in American coin history, showcases the remarkable value some everyday coins can hold—especially when tied to minting mistakes.
What Makes the 1958 Doubled Die Penny So Special?
The 1958 Doubled Die Penny is considered one of the most dramatic and valuable error coins ever released by the U.S. Mint. A doubled die occurs when the coin die used to strike the design onto blank planchets has been improperly engraved with a duplicate image, creating a clear and visible doubling effect on the coin’s surface.
In the 1958 example, this doubling is unmistakable—particularly on “LIBERTY,” “IN GOD WE TRUST,” and the date “1958.” While many doubled die coins exist, this one stands out because:
- It is exceptionally rare
- The doubling is bold and easily visible
- Only a few authenticated specimens are known to exist
Coin Specifications: 1958 Doubled Die Penny
Here’s a quick look at the physical details and attributes of the coin:
| Feature | Details |
|---|---|
| Year | 1958 |
| Mint | Philadelphia (No mint mark) |
| Error Type | Doubled Die Obverse |
| Visible Doubling On | LIBERTY, IN GOD WE TRUST, 1958 |
| Metal Composition | 95% Copper, 5% Tin and Zinc |
| Weight | 3.11 grams |
| Edge | Plain |
| Diameter | 19.05 mm |
| Known Examples | Fewer than 5 |
| Market Value | $30,000 – $100,000+ |
The coin’s lack of a mint mark indicates that it was struck at the Philadelphia Mint, and this version of the DDO penny is distinct from more common double-strike errors.
The Discovery and Sale
A man in the Midwest was organizing tools and paperwork in his garage when he stumbled upon a rusted tin filled with old change. Inside was a well-preserved 1958 penny showing noticeable doubling on the date and lettering. Upon further examination and grading, it was confirmed to be one of the few authentic 1958 Doubled Die Obverse pennies.
The coin was subsequently auctioned, where collectors and investors quickly recognized its rarity. Competitive bidding pushed the final sale price to $56,000—a life-changing amount for a coin that had been sitting in a drawer for decades.
Why Is It Worth So Much?
The value of the 1958 DDO penny stems from:
- Ultra-low population: There are only a handful of verified specimens.
- Clear error: The doubling is dramatic and easy to spot, making it visually appealing.
- High demand: Error coins, especially ones with a strong backstory and traceable provenance, are highly sought after by collectors.
- Historical intrigue: Originally, some examples were thought to be counterfeit, adding a layer of mystery to its origin.
Coins in mint state (uncirculated) with strong red color (RD designation) tend to fetch the highest prices. Even circulated examples like this one can command tens of thousands of dollars.
How to Spot a 1958 Doubled Die Penny
If you suspect you may have one of these rare coins, here are the signs to look for:
- Strong doubling on “LIBERTY” and “IN GOD WE TRUST”
- Doubling visible on the entire date “1958”
- No mint mark under the date
- High relief and no signs of machine doubling (which tends to look flat and shelf-like)
If you think you have one, don’t clean it—send it to a professional coin grading service for authentication and evaluation.
The story of the 1958 Doubled Die Penny found in a garage junk drawer is a numismatic dream come true. With only a few confirmed specimens in existence and an auction value of $56,000, this coin serves as a reminder that treasures can be hidden in plain sight.
Whether you’re a seasoned collector or someone with a drawer full of old change, take a second look—your next coin could be worth a small fortune.
FAQs
How rare is the 1958 Doubled Die Penny?
Extremely rare. Only 3 to 5 known examples exist, making it one of the scarcest Lincoln cent errors ever discovered.
How much is a 1958 DDO penny worth?
Depending on condition and grading, it could be worth $30,000 to over $100,000. This recent discovery sold for $56,000.
What should I do if I think I found one?
Keep it safe and do not attempt to clean it. Send it to a reputable grading service for authentication and valuation.