1958 Doubled Die Obverse / DDO - $100,000.00

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Author	Replies: 4 / Views: 1,916
catman Rest in Peace United States 954 Posts	Posted 10/20/2005 5:04 pm Hi All, Every once in a while something happens in numismatics that simply amazes me. In the October 17, 2005 issue of Coin World is a story of the sale of a 1958 DDO Lincoln Cent for the whopping sum of $100,000.00. I'm thinking the buyer must be insane to pay that kind of a price for that coin. There was 253 million 1958-P cents produced. I'm sure I'm not the only one who has a mint sewn bag under their bed in the whole United States.! If all of a sudden someone opens one of these stashed bags and 500 of these double dies are found. What will happen to the value.? This is for sure a gamble I wouldn't be willing to take. For those who are unfamilar with mint sewn bags they contain 5000 coins directly from the mint. catman Report this Post to the Staff

longnine009 Pillar of the Community United States 1247 Posts	Posted 10/20/2005 6:06 pm Just think, it wasn't that long ago that a 1913 Lib Nickel made headlines as the first U.S coin to sell for $100,000. Report this Post to the Staff
catman Rest in Peace United States 954 Posts	Posted 10/20/2005 7:00 pm Hey Longnine009, I have to say there was a whole lot of mintage difference between the 1913 nickel and the 1958 Penny. For all we know there could be 5000 more of the 1958 cents out there somewhere. I wonder about people who pay millions for something anyway. It has to be for their ego..! catman Report this Post to the Staff
CiScO Valued Member United States 458 Posts	Posted 10/20/2005 7:02 pm Actually catman, it is people with to much that donno what to do with it--So they waste it on modern collectibles, instead of older quality stuff---IMHO Report this Post to the Staff
Morgan Fred Rest in Peace United States 2684 Posts	Posted 10/20/2005 9:49 pm quote: Originally posted by CiScO Actually catman, it is people with to much that donno what to do with it--So they waste it on modern collectibles, instead of older quality stuff---IMHO CiScO, this is most reflective of my attitude. If I had that kind of money to burn, I think I'd find a lot better and less risky investment than a modern coin which may prove to be a common error. An older, proven rarity strikes me as a lot wiser investment avenue. Report this Post to the Staff
	Replies: 4 / Views: 1,916

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1958 DDO - $100,000.00