1873 1c Doubled LIBERTY MS RD

1873, Doubled LIBERTY, Cent Production: This is the boldest doubled die in the series. It is commonly referred to as the Doubled LIBERTY, classified as Snow-1. The doubling is boldest on the headband and feathers. There is little or no doubling on the legend UNITED STATES OF AMERICA. This is due to the nature of the die-making process at the time. A blank die is given a shallow conical head when first turned down. The first impression of the hub into the die did not impress the entire design, only the central portion. The next impression of LIBERTY, Snow-1 the hub filled out the design, but at a slightly rotated position. Thus, only the central portion of the design got doubled impressions. The date did not get doubled because it was added to the die after the portrait and legend.

Survivability: Walter Breen first described this variety in 1953. (At the time there was little knowledge regarding doubled dies. Collector interest in doubled dies grew after the discovery of the 1955 doubled-die Lincoln cent.) Few have turned up over the years. In Breen’s 1988 Complete Encyclopedia of U.S. and Colonial Coins he proclaimed the possible finest known to be an MS-60 cleaned piece in the 1983 Roy Harte III sale. Today, about 150 examples of the Doubled LIBERTY are known, about 20 of which are in Mint State.

Collecting Challenges: These are highly sought after. It is very rare to find one unattributed, although it still happens. One of the greatest cherrypicks on record involved this coin. In 2000, a collection of Mint State Indian Head cents was offered to Indian Head cent collector Dr. Tom Turissini by a local dealer. The set contained many beautiful high-grade coins in an old-time holder. The 1873 cent was an unattributed example of the famed Doubled LIBERTY. It later was graded MS-64RD by PCGS, and sold for nearly double the record price for the variety at the time. Later still, it surfaced in the Stewart Blay Collection (the example pictured on page 123); this is still the only example graded full red.

The finest graded piece, a nearly full red MS-65RB graded by PCGS, was initially bought as a generic “BU” (Brilliant Uncirculated) from a seller on the Internet for $5,000 in 1996. It later sold at auction for $69,000 in 2005.

At the 1990 ANA show in Seattle, Brian Wagner walked into the show, and at the first table he stopped at, bought an 1873 cent in About Uncirculated for $60. It was not even labeled as a Closed 3, let alone the Doubled LIBERTY. He sold it right away for $1,800. He probably should have held on to the coin, as it has advanced considerably in value since then. The coin was featured on the cover of the premier issue of Lon-gacre’s Ledger in 1990.

Buying an already attributed Doubled LIBERTY is the route most collectors have to go to get this famous coin. Most examples will have problems such as heavy or numerous marks. The high-quality pieces usually do not have to wait too long to find ready buyers, unless grossly overpriced.

Collecting Circulated Pieces: The optimal collecting grade for these is VF-20 or F-12, below which the details of interest will be worn away. On Very Good and lower examples, the doubling is visible on the nose and the ES of STATES. Problems such as scratches and nicks may be acceptable if they are reflected in the price. There usually are large price jumps between grades, so be careful about overgraded pieces.

Collecting Mint State Pieces: Mint State examples are very rare and as such, very expensive. Most are dark red-brown or brown. Presently only one full red example is known. Only about 20 other Mint State examples exist. Most are well struck. One example has a machine oil strike-through on the ERTY, leaving only the feathers and LIB showing doubling—an unfortunate situation.

One famous example of this coin is an MS-65RB example, which was featured on the cover of my book Flying Eagle and Indian Cents (1992). This coin was graded MS-65RB by NGC in 1993, after being photographed for the book; however, NGC failed to designate its Doubled LIBERTY status on the holder. Elliott Goldman, proprietor of Allstate Coin Co. of Tucson, Arizona, owned the coin. Elliott sent the coin back to NGC and it was stolen en route. Although it was insured, it was a loss to the numismatic community. Since this was the cover plate coin on my book as well as being the first 1873 Doubled LIBERTY cent to receive the MS-65RB grade, it was very diffcult for the insurance company to figure out what it was worth. Eventually a $35,000 settlement was arrived at.

In 1998, this coin surfaced. A dealer member of the Professional Numismatists Guild was offered the coin. He held it until the rightful owner could be found. Elliott Goldman had passed away in 1995, and the insurance case was diffcult to track down. Finally, after much research and legal wrangling, the coin was returned to the insurance company and sold back to the numismatic community. As it turned out, the thief did not know what he had, as it was unattributed in its NGC holder. He sold the coin soon after the theft for $200, to the person who later tried to sell it in 1998. The buyer forfeited ownership when he discovered it was stolen. There were no prosecutions in the case.