The Philadelphia Mint struck this proof penny in 1959.
It belongs to the long-running Lincoln Cent series.
That year marked a major milestone for American pocket change.
The Mint replaced the old wheat stalks on the back with the new Lincoln Memorial design.
Frank Gasparro designed the new building image to honor Abraham Lincoln's 150th birthday.
Collectors were eager to get their hands on the updated design right away.
The Mint produced special proof coins for collectors using polished blanks and dies.
A few of those special strikes came out with a deep cameo finish.
A top-graded example crossed the block at Heritage Auctions in January 2004.
The winning bidder paid $20,700 for the coin.
Professional coin graders certified the penny at PR-69 Deep Cameo.
The PR stands for proof strike.
A grade of 69 means the coin is almost flawless under magnification.
Only a tiny perfection flaw keeps it from reaching the top grade of 70.
Finding an early memorial penny preserved in this state is unheard of for most collectors.
Bidders competed aggressively because coins at this level rarely appear on the market.
The 1959 date is an essential key date for anyone building a complete type set.
Every collector who wants a full run of Lincoln designs needs a strong 1959 coin.
Deep Cameo contrast on 1959 proofs is exceptionally rare.
The Philadelphia Mint used inconsistent frosting techniques during this era.
Workers treated the dies with acid to create a frosted look on the raised design.
This frosty layer wore off quickly as the dies struck more planchets.
Only the first few dozen coins struck with fresh dies showed bold contrast.
Most 1959 proof cents have a flat, shiny look across the entire surface.
Finding a coin with full, heavy frost on both sides is a true condition rarity.
High collector demand combined with low survival rates in PR-69 drives the price up.
Regular pocket change or standard proof coins will not bring this kind of money.
Start by checking the date on the front of the coin for 1959.
Look for the lack of a mint mark below the date, which indicates the Philadelphia Mint.
Flip the coin over to verify the Lincoln Memorial building on the reverse.
Use a 5x or 10x magnifying glass to inspect the surface finish.
A standard proof penny looks uniformly bright and reflective like a flat mirror.
A Deep Cameo coin shows a stark, dramatic difference between the raised parts and the background.
The flat background fields must look like clear, dark glass mirrors.
The portrait of Lincoln, the lettering, and the building must show a thick, milky white frost.
The Deep Cameo designation requires this heavy frost on all raised elements on both sides.
If you are not sure what you have, you can use CoinKnow or Coin Value Checker to get a quick first opinion from your phone.
Inspect the rim and edges under good lighting for any contact marks or spots.
Even a tiny hairline scratch will keep a coin from reaching the PR-69 tier.
Only independent grading services can officially verify the Deep Cameo status.
For a no-effort price check, take a look at our breakdown of each free coin identifier apps we tried.
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