Rare double die 1955 Lincoln penny sells for $1,400 - do you have one of 20,000 coins in your change

A LINCOLN penny from 1955 has sold for $1,400 online after a bidding war – and you’ll want to see if you have a similar coin in order to cash in.

On the rare penny, featuring 16th President Abraham Lincoln, there is a double die – meaning the coin has a double layer effect.

Most importantly, this penny is said to be the most famous Lincoln coin of them all.

A big reason is because of doubling that can be clearly seen in multiple spots on the coin.

The Philadelphia-minted coin features the doubling of the words "In God We Trust" (above Lincoln) and "Liberty" (to the left of Lincoln). 

Also, the year on the coin is doubled. 

“It is very hard to miss this error so it is easy to tell the difference between the real one and the 1955 "poor mans" doubled die which is no where near as noticeable,” USA Coin Book wrote in a description of the penny.

Moreover, there appears to be no mint mark on the coin.

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"In 1955, roughly 20,000 of these pennies were produced, and most were given as change from cigarette vending machines," Chad Eicher, owner of Metal Pursuits, told The Sun. 

He added: "It might be worth around $1,800 if you find [a] 1955 no mint mark doubled die penny in extremely fine condition."

Meanwhile, the listing of the coin claims that the piece is Professional Coin Grading Service certified with the grade “AU DETAILS.”

In total, 22 bids were placed on the coin – with the winning one reaching $1,400 when the bidding ended today, November 3.

That would mean the penny is now worth around 14,000,000% of its original value. 

How much you get for the 1955 coin could depend on grade and condition but it’s quite valuable regardless. 

If the Lincoln cent is in average condition, it is worth $1,286, according to USA Coin Book. 

And it could be worth up to $16,644 if it’s in “Uncirculated (MS-63).”

Recently, two other Lincoln 1955 pennies sold online including one for $1,801 and another for $1,552.

Furthermore, there are more Lincoln pennies from 1955 that are listed for thousands on eBay.

Is your small change worth a fortune?

If you believe that you have a rare coin then you might be able to cash in on the value.

The most valuable coins are usually those with a low mintage or an error, as they're deemed the most valuable by collectors.

To check out if your coins are worth anything on eBay, search the full name, select the "sold" listing and then toggle the search to "highest value.”

It will give you an idea of the amount of money that the coin is going for.

You can either choose to sell the coin on eBay or through a specialist site such as Coinappraiser or USA Coin Book.

If you choose eBay, remember to set a minimum price that is higher or at the very least equal to the face value of the coin - or you could lose money.

You also need to be aware that even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will pay up.

According to eBay’s terms and conditions, bidders enter a “legally binding contract to purchase an item.”

However, there’s no way of enforcing this rule.

The most eBay can do is add a note to their account for the unpaid item or remove their ability to bid and buy.

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Two other rare Lincoln pennies recently sold online, including one from 1992 for more than $25,000 and a 1909 coin with the initials VDB for nearly $1,500.

Other rare coins that have sold online include a buffalo coin with three legs for $1,400 along with a Flying Eagle cent sold, which sold for $11,128.

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