2014 Lincoln Shield Cent Doubled Die - DDO-001, FS-101

So, why do folks pay such a high premium when a new, strong doubled die or die error is found. Take this example. When the 2014 DDO-001 was first found, an MS example would go for a lot of money, yet last year an MS64 went for just $228. Some folks lost out pretty big, maybe, since PCGS to date still only has 25 of these listed in any MS grade so they remain rare.

So that is the first idea, where no one knows what the rarity will be. If dozens are popping up all over then price plummets and early buyers will lose money. This happened with the 2014 DDO-003, which is strong, but did not make the CherryPickers' Guide and has turned out to be overly abundant to the point a nice MS example today can be bought for less than $15.

But for those who buy in early, and nab the very best examples, it really can turn out pretty good. With this DDO-001, examples rarely are found, and as time ticks on the ones found are ever lower in grade. So the population of total examples goes up, but not so much at the top end as almost no new MS 66 or better examples are found. Here, an MS 66 coin is still listed at $1,000 and an MS 67 at $2,000. Only 11 at those grades were ever found and slabbed PCGS and that number is unlikely to move much.

So I bought this one, maybe in XF, for $65 and was the only bidder as that was the starting bid. Might have paid a little too much, but that's okay as it's a die 1 that's hard to find and I'm okay with it. But it helps to show why those early buyers are willing to pay a lot for a new discovery in top grade, as the die may turn out to be rare and become almost unattainable in a top grade later.

2014 Lincoln Shield cent doubled die - DDO-001, FS-101