Officially known as 1935 Doubled Die Obverse (DDO) FS-101 variety, this coin has significant doubling, especially on the date, and is sought after by collectors.
You also can see doubling on the letters of “IN GOD WE TRUST” as well as the left portion of the motto LIBERTY.
If you look closely, you can see a doubled eyelid on the portrait.
This is the type of doubling that can be strong, if early in the manufacturing process, or weaker as the working die deteriorates.
Also, in those late-stage examples, the doubling can look flat. So many people attribute those to machine doubling. Example:
As for value, PCGS CoinFacts factors the color of the coin (Brown, Red-Brown, or Red) and its grade.
Well-circulated examples can be found on eBay for under $50. High grade red examples authenticated by PCGS sell for hundreds and even thousands.
This coin sold at auction for $3055.
If buying a raw example from eBay or online auctions, be sure to distinguish doubled die from die deterioration, as in this case:
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