Imagine finding a single penny in your pocket change that could pay for a house. That’s exactly what happened when a rare 1958 Wheat Penny doubled die error sold for an incredible $336,000 at auction.
While most 1958 pennies are worth only face value, this ultra-rare variety has become a holy grail for Lincoln cent collectors. Here’s your ultimate guide to identifying if you might own one.
Why This 1958 Penny Is Worth a Fortune
The record-breaking coin had these rare traits:
- Date: 1958 (Philadelphia mint – no mintmark)
- Major Doubling: Strong, visible doubling on LIBERTY and IN GOD WE TRUST
- Eye Appeal: Exceptional mint state grade (MS65+ Red)
- Rarity: Fewer than 3 known examples exist
This makes it one of the most valuable Lincoln cents of all time.
3 Easy Steps to Identify the 1958 Doubled Die
Check the Date
- Must be 1958
- No mintmark under the date (Philadelphia issue only)
Inspect LIBERTY
- Use a 10x magnifier
- Look for clear separation lines in the letters
- Doubling should be sharp and obvious
Examine IN GOD WE TRUST
- Strong doubling on all letters
- The “G” in GOD and “T” in TRUST show the most dramatic doubling
Value Guide for the 1958 Doubled Die Penny
| Grade | Description | Value Range |
|---|---|---|
| MS-60 to MS-63 | Light doubling, minor wear | $1,000 – $5,000 |
| MS-64 | Clear doubling, few marks | $10,000 – $25,000 |
| MS-65 | Strong doubling, great eye appeal | $50,000 – $150,000 |
| MS-65+ | Perfect surfaces, extreme doubling | $200,000 – $336,000+ |
Where You Might Find One
- Old 1958 mint rolls
- Inherited collections stored away for decades
- Estate sales and flea markets
- Dealer inventory (some don’t recognize the error!)
Selling Tips: Maximize Your Profit
Get it graded – PCGS or NGC certification is a must
Professional photos – show the doubling clearly
Sell in the right place – choose the right auction house:
| Platform | Best For | Fees |
|---|---|---|
| Heritage Auctions | Million-dollar coins | ~15% |
| GreatCollections | Certified errors | ~10% |
| eBay | Raw/uncertified coins | ~12.9% |
| Private Treaty | Ultra-rare six-figure sales | 5–8% |
Avoid these mistakes:
Don’t clean your coin
Don’t sell ungraded if it looks high-quality
Don’t fall for pawn shops or “cash for coins” ads
Join the Wheat Penny Hunters at PennyVerse.info
At PennyVerse.info, we help collectors just like you with:
- Free weekly coin hunting tips
- Live Q&A with grading experts
- Access to our rare penny database
- Members-only auction alerts
Found a 1958 penny? Upload your photos in our forum for a free evaluation!
