The 1988 Double Ear Penny stands as a scarce and precious coin that has captured the fascination of both collectors and investors.
The significance of the 1988 Double Ear Penny is rooted in its scarcity and distinctiveness.
Given the limited number of these coins, they command considerable attention from collectors and investors. So, let’s dive in.
Key Takeaways:
1. The 1988 Double Ear Penny is a rare and valuable coin with a doubled image of Abraham Lincoln’s ear on the obverse side.
2. The significance of the coin lies in its rarity and uniqueness, making it highly sought-after by collectors and investors alike.
3. The value of the 1988 Double Ear Penny can vary greatly depending on its condition and other factors, but it is generally considered a valuable addition to any collection.
The Story Behind the 1988 Double Ear Penny
The 1988 Double Ear Penny is a rare coin that has become highly sought after by collectors. This penny is unique due to a minting error that resulted in the doubling of the earlobe on Abraham Lincoln’s portrait.
The error was not noticed until the coins were released into circulation, making this penny valuable for collectors.
– The Minting Process
Minting coins involves several steps, including creating dies to stamp the design onto the coin. In the case of the 1988 Double Ear Penny, it is believed that a tilted hub doubled die was used during the minting process.
This resulted in doubling the earlobe on some of the produced pennies.
– Discovery of the Error
The discovery of the 1988 Double Ear Penny was not immediate. It was not until several years after the coins were released into circulation that collectors began to notice the doubling of the earlobe on some of the pennies.
The error was first reported by Christopher Beck of Florida, who had come across a particularly well-preserved coin example.
Since then, the 1988 Double Ear Penny has become a highly sought-after coin by collectors. While the doubling of the earlobe is not as extensive as on some other doubled-ear varieties, it is still considered a major variety and is highly valued by collectors.
The coin’s value can vary depending on its condition, with well-preserved examples worth significantly more than those heavily circulated.
– The Significance of the 1988 Double Ear Penny
The 1988 Double Ear Penny is a coin of rarity and value that has garnered the interest of collectors and enthusiasts.
This particular coin is renowned for its distinctive trait of featuring a doubled ear of Abraham Lincoln on its obverse side, setting it apart from other pennies minted in the same year.
The doubling effect on the earlobe is visibly pronounced and easily discernible without magnification, contributing to its popularity among collectors. Referred to as the FS-101 variety, the 1988 Double Ear Penny is named after “Fivaz-Stanton,” the numismatists who were the first to identify the coin’s doubled feature.
The rarity of the 1988 Double Ear Penny adds to its allure, motivating collectors to seek it out fervently. It is estimated that only a limited number of these coins, likely a few thousand, were produced, rendering them a scarce discovery. Depending on its condition and grade, this rarity has significantly impacted the coin’s worth, ranging from several hundred to thousands of dollars.
The 1988 Double Ear Penny carries significance owing to its distinctive attributes, rarity, and monetary value. Distinguishing itself from other pennies minted in the same year, this coin has captivated the attention of both collectors and enthusiasts. Its rarity and value have elevated it to a cherished possession for those fortunate enough to possess one.
Value of the 1988 Double Ear Penny
The 1988 Double Ear Penny is a rare and valuable variety of the Lincoln Cent. The value of this coin depends on its condition and grade.
The value of the 1988 Double Ear Penny has increased over the years due to its rarity and demand among collectors.
In 2007, Professional Coin Grading Service graded the most valuable 1988-D penny ever sold at auction as MS68RD and fetched $1,495. This shows the high demand for this coin among collectors.
Also, in 2020, one example of this error coin was auctioned by Heritage Auctions, and it was sold for $3,120!
– The rarity of the 1988 Double Ear Penny
According to PCGS, the 1988 Double Ear Penny is considered a major variety and is highly sought after by collectors.
The rarity of this coin is because only a small number of these pennies were minted before the error was corrected. It is estimated that less than 1% of the total mintage of 1988 pennies have the double ear variety.
The rarity of the 1988 Double Ear Penny is further confirmed by the fact that it has a low population in the PCGS population report.
As of August 2023, PCGS has only graded 23 examples of the 1988 Double Ear Penny, with the highest grade being MS67RD.
The rarity of this coin has made it a highly sought-after item among collectors, and it has been known to command high prices at auctions.
However, it is important to note that not all 1988 pennies are the double-ear variety, and it is crucial to have the coin authenticated by a reputable grading service before making any purchases.
Before you go…
Overall, the 1988 Double Ear Penny is a fascinating coin that has captured the attention of collectors and enthusiasts alike. Its rarity, unique features, and historical significance make it a true gem in any collection.
Check out my next article: “What is a Memorial Reverse Penny?“
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