That's the common Master Die Doubling, that you're seeing. This affected all 3 mints. (Philadelphia, Denver, and San Francisco.) It's technically a real Doubled Die, but it's a very common one unfortunately. It won't carry any value over face, but you can keep it if you'd like, for educational purposes.
Quote:1972 1¢ WMDO-001 Doubled Master Die
Description: An extremely close Class I CW spread shows on the letters of LIBERTY, IGWT, and the horizontal bar of the 2 in the date. On early die state specimens the E of WE appears to show tripling suggesting a CCW spread in addition to the CW spread.
Die Markers: Obverse: The affected master die shows a short die gouge extending eastward inside the upper S of TRUST. Other obverse die markers will vary with the different working dies that were affected. Reverse: Die markers will vary with the different working dies that were affected.
Submitted By: John A. Wexler
Cross References: CONECA: MD-1-O-I-CW+II-C (formerly listed as MD-5-O-I-CW+II-C), Crawford: CDDO-005 (MD)
Values: No extra value!
Comments: Shortly after the various obverse doubled die cent varieties were produced that year, the
Lincoln Cent master die for 1972 failed and a new one had to be produced. Clearly the Mint was having problems that year with the hubbing process as was evidenced by the many doubled die varieties produced. Those problems carried over to the second master die that was produced for the Lincoln cents that year. That second master die was produced with minor doubling. It is estimated that the doubled master die was created somewhere around April or May of 1972. All of the Lincoln cents struck by working dies that descended from the doubled master die show this minor doubling. The doubling can be seen on the letters of IGWT, the letters of LIBERTY, and very slightly on the date. Since 60% to 70% of all Lincoln cents for 1972 show this doubling, it is far too common to have any value. This includes 1972 D-Mint, S-Mint, and proof coins produced that year. Newer doubled die collectors should be very careful if responding to ads for 1972 doubled die Lincoln cents. There are individuals out there trying to sell specimens of this doubled master die for premiums far in excess of what they should be. You should not be paying more than the normal numismatic value of a 1972 cent for 1972 cents with this master die doubling. Those trying to sell them to unsuspecting buyers advertise them as "genuine doubled dies" which they are. The ads are truthful in that respect, but they fail to tell you that it is a specimen of the doubled master die that can easily be found without paying a premium for it. Back when they were first listed they were assigned a listing number of 1972 1¢ MD-5-O-I+II. Those trying to sell them at a premium identify them as "5-O-I+II" but they leave off the master die indicator "MD." If you are fairly new to doubled die collecting, don't let yourself fall victim to these scams. If you would like to add a specimen of the doubled master die to your collection for educational purposes, go out and look for them yourself. Since the majority of 1972 cents show this doubling, you should easily find one for the cost of a "regular" 1972
Lincoln Cent.
http://www.doubleddie.com 
Is this 1972 S 
Posted 10/18/2018 2:54 pm
