A double-struck coin is a mint error that occurs when a coin blank, also known as a planchet, is struck more than once by the coin dies during the minting process . This can result in various appearances depending on how the second (or subsequent) strike occurs relative to the first.
Here’s a breakdown of double-struck coins:
- How they happen: A malfunction in the coin press’ ejection system is usually the cause. The struck coin fails to be fully ejected from between the dies before the dies strike again, or it may fall back into the coining chamber and be struck again. In some cases, the coin might even flip over before being struck again.
- Types of double strikes:
– Off-center double strike: The most common type, where the second strike is not perfectly aligned with the first, creating an overlapping and often dramatic effect.
– On-center double strike: The second strike occurs directly on top of the first, potentially rotated, and can be harder to spot.
– Flip-over double strike: The coin flips over between strikes, resulting in a unique and often valuable error.
– Multi-strikes: Coins that have been struck three or more times.
- Value: Double-struck coins are considered desirable by collectors of error coins. The value varies depending on factors like the rarity of the specific error, the placement and visibility of the strikes, the coin’s date and denomination, and its overall condition. Some can be worth a few dollars, while rarer and more dramatic examples can fetch thousands. For example, the rare 1958 doubled die penny sold for over a million dollars in 2023.
- Distinction from doubled dies: It’s important not to confuse double-struck coins with doubled die coins. Doubled dies are an error in the die itself, created when the die is manufactured with a doubled image due to misalignment during the hubbing process. Double-struck coins, on the other hand, are the result of the die striking the coin multiple times.
In essence, a double-struck coin is a fascinating mint error that showcases a unique aspect of the minting process and is sought after by many coin collectors.
Why is the $7.6 million double eagle coin so valuable?
The rarity of the 1933 Double Eagle only adds to its value. As one of the rarest U.S. coins in existence, its price at auction has gone through the roof. The most famous 1933 Double Eagle, which was sold at auction in 2002, fetched a staggering $7.6 million.