A doubled-die 1969-S cent reported discovered last week is still in the running to hit a $100,000 value because it came back from the Professional Coin Grading Service tied for the finest known at MS-64 Red.
The coin was discovered by Michigan collector Michael Tremonti, who was examining two rolls of uncirculated 1969-S cents on Oct. 3. After consulting with error-variety expert Ken Potter, Tremonti submitted the coin to PCGS.
?I was totally amazed that this coin could turn up out of nowhere. The coin is completely original and full mint red. It?s a beautiful near-gem example,? said David Hall, PCGS co-founder and president of Collectors Universe, Inc.
?What an incredible find! This could be a six-figure coin,? Hall concluded.
Including this latest discovery piece, the ?PCGS Population Report? indicates only 23 1969-S doubled-die cents from very fine to MS-64, and only two are graded Mint State Red.
The coin discovered by Tremonti has strong doubling on the obverse in the date and the words, LIBERTY and IN GOD WE TRUST. It?s described by Potter as ?a Class I Rotated Hub with counter-clockwise doubling.?
A 1969-S doubled die cent, graded PCGS MS-64 Red Brown was sold for $85,100 in the Bowers and Merena Auctions sale in August.
