The world of coin collecting is filled with rare treasures, but few coins rival the legendary status of the 1917 Doubled Die Wheat Penny. Valued at up to $120,000, this penny is a gem for collectors and investors alike. Despite its age and rarity, some of these pennies are still believed to be in circulation today.
This article explores everything you need to know about the 1917 Doubled Die Wheat Penny: its history, characteristics, market value, and why it remains highly sought after.
What Is a Doubled Die Penny?
A doubled die coin results from an error during the minting process where the coin’s design is struck more than once, but slightly misaligned on the die. This doubling effect appears visibly on letters, numbers, or other design elements of the coin, making it unique and rare.
For the 1917 Wheat Penny, the doubling is especially prominent on certain features, causing it to be a prime example of this minting anomaly.
History of the 1917 Wheat Penny
The Wheat Penny, officially known as the Lincoln Wheat Cent, was minted from 1909 to 1958. The 1917 version is among the earlier ones with the wheat ears on the reverse side.
In 1917, the Philadelphia Mint produced a limited number of these coins with a doubled die error. This minting mistake went unnoticed at the time but has since become one of the most prized anomalies in U.S. coin collecting.
How to Identify the 1917 Doubled Die Wheat Penny
Spotting a 1917 Doubled Die Wheat Penny involves looking for clear doubling on certain design elements. Here are some key areas to check:
- The date “1917” — especially the numbers 1 and 7, which will show visible doubling.
- The word “LIBERTY” — often doubled on some letters.
- The phrase “IN GOD WE TRUST” — doubled letters here may be noticeable.
- The wheat ears — slight doubling or shadowing.
Collectors often use magnification tools to identify these details clearly. It’s crucial to differentiate between actual doubled die errors and other types of doubling caused by wear or damage.
Why Is the 1917 Doubled Die Wheat Penny So Valuable?
The value of the 1917 Doubled Die Wheat Penny comes from several factors:
- Rarity: Only a small number of these coins were minted with the doubled die error.
- Condition: Well-preserved coins with minimal wear command higher prices.
- Collector Demand: Coin collectors highly prize rare mint errors, especially from early 20th-century pennies.
- Historical Significance: The coin reflects an important era in U.S. minting history.
Because of these factors, well-certified examples of the 1917 Doubled Die Wheat Penny can fetch prices as high as $120,000 in the collectors’ market.
The 1917 Doubled Die Wheat Penny in Circulation
Despite its high value, some 1917 Doubled Die Wheat Pennies are still believed to be circulating quietly in everyday transactions. This rarity combined with the coin’s small size means many owners might not even realize the value of what they have.
If you happen to find an older penny with visible doubling characteristics, it’s worth getting it professionally appraised by a reputable coin grading service such as PCGS or NGC.
Table: Comparison of 1917 Doubled Die Wheat Penny Values by Condition
| Condition Grade | Description | Approximate Market Value |
|---|---|---|
| Poor (P-1) | Heavy wear, date visible | $500 – $1,000 |
| Good (G-4) | Clear date, moderate wear | $2,000 – $5,000 |
| Very Fine (VF-20) | Light wear, all details clear | $10,000 – $25,000 |
| Extremely Fine (EF-40) | Minor wear, sharp details | $40,000 – $75,000 |
| Mint State (MS-60 to MS-65) | No wear, perfect condition | $80,000 – $120,000+ |
How to Authenticate and Protect Your 1917 Doubled Die Wheat Penny
Due to the coin’s rarity and value, authenticating a 1917 Doubled Die Wheat Penny is essential:
- Professional Grading: Submit the coin to professional graders (PCGS, NGC) for authentication and grading.
- Documentation: Keep any certification papers or provenance information.
- Safe Storage: Store the coin in a protective holder or safe deposit box to prevent damage.
Avoid trusting unofficial appraisals or buying coins without verification, as counterfeit or altered coins exist.
Investing in the 1917 Doubled Die Wheat Penny
For investors, the 1917 Doubled Die Wheat Penny is more than a collectible — it’s a valuable asset. Its value has appreciated steadily over time due to limited supply and increasing demand.
However, investing in rare coins requires knowledge and caution:
- Learn about coin grading and market trends.
- Buy from reputable dealers.
- Ensure proper insurance for high-value coins.
FAQs About the 1917 Doubled Die Wheat Penny
Q1: How rare is the 1917 Doubled Die Wheat Penny?
A: It is extremely rare, with only a small number known to exist, making it one of the most valuable wheat pennies.
Q2: Can I find a 1917 Doubled Die Wheat Penny in my pocket change?
A: While very unlikely, it is still possible since some are believed to be in circulation.
Q3: What makes a coin a doubled die?
A: A doubled die results from a misalignment during the die creation process, causing the coin’s design to appear doubled.
Q4: How can I get my penny graded?
A: Submit it to professional grading services like PCGS or NGC, which authenticate and grade coins based on condition.
Q5: Is it worth selling a 1917 Doubled Die Wheat Penny?
A: If authentic and in good condition, it can be worth a significant amount, so selling should be done carefully through reputable channels.
