$1.5 Million 1937 “Double Liberty” Penny – Could You Have One?

A breathtaking 1937 Lincoln Wheat Cent featuring a rare “Double Liberty” minting error has sold for $1.5 million, sparking a nationwide hunt among collectors and treasure seekers. If you’ve got old pennies lying around, here’s what you need to know to spot this once-in-a-lifetime find.


Why This Penny Is Worth Millions

  • Extreme Rarity – Only 4–5 confirmed specimens exist worldwide.
  • Major Minting Error – The word “LIBERTY” on the obverse is dramatically doubled, with clear separation visible to the naked eye.
  • Top Condition – The record-breaker was graded MS-66 Red by PCGS.
  • Historic Appeal – Struck during the Great Depression, adding historical and collector significance.

How to Identify a 1937 “Double Liberty” Penny

  1. Check the Date – Must read 1937 with no mintmark (Philadelphia Mint).
  2. Examine “LIBERTY” – Look for bold doubling where letters appear shadowed or overlapping.
  3. Assess Condition – Highest values go to coins with full red color, no fading, and zero wear on Lincoln’s cheek or jawline.

Value by Condition (PCGS/NGC Certified)

Grade Value Range
MS-65+ RD $1,000,000 – $1,500,000
MS-64 RD $500,000 – $800,000
AU-58 $100,000 – $250,000
VF-20 $25,000 – $50,000

Where These Rare Pennies Are Found

  • Old bank coin rolls from the 1930s
  • Inherited coin collections
  • Estate sales and antique shops in the Midwest & Northeast
  • Dealer “junk bins” (yes, it happens!)

Selling for Maximum Profit

  • Get It Certified – Only PCGS or NGC authentication ensures maximum value.
  • Use Professional Photography – High-quality images help attract top bids.
  • Sell Through Major Auction Houses – Heritage Auctions is a proven record-breaker for rare coins.
  • Plan Ahead for Taxes – Rare coins are subject to a 28% collectibles tax rate in the U.S.

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