What Dates qualify for Premium on Errors

[Guest]

I just noticed that the 2013 Error Cents on Ebay closed out 0ver $2,400. Can someone tell me what errors would qualify for this type of pricing and from what dates does one start their searches. I am a rookie when it comes to Errors so I would like some opinions. Does it start from 1998-2013 for the modern errors since the single-squeeze era when it seems there are less chances of errors according to the experts? Thanks for any help and feel free to jump in.

Lucien

[GrumpyEd]

There are several distinct timeframes.

1) The old days when they rolled everything it was unlikely that extreme off centers or die-caps or anything that was not round enough to get in a roll would get out.

2) The time of bags filled by weight and not rolled seemed to have a lot of extreme errors that got out.

3) The time of coins shipped by weight to coin rolling companies that shipped in bricks changed things so most extreme errors got found by the outfits doing the rolling/bricking.

4) Then more recently the mint must have better QA checks and also they might have cracked down on the companies they contract with to do the rolling/bricking to return defective coins and not let them get to the market. Maybe that is the modern period like the ones in the post, the nice errors are scarce and bring more premium.

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I think single squeeze in itself didn't change errors because it only changes the die making so it only changes the varieties that get created not the errors.

Another thing to consider is the waffling, by doing it that made it less likely that somehow those coins can get to the market and if they do they are waffled.

Maybe someone can add some dates to these basic periods or add some more time periods.

[Scott99]

You may want to refer to this thread. Has some information on the topic.

[copperlover]

I am aware of many errors that occurred in the wheat era and from there until 1997. I was targeting the period 1998- 2013 because these coins are currently available in circulation and some even in boxes or bags by weight.

Lucien

[Maineman750]

According to what I've heard, errors after 2005 are pretty rare.

[jcuve]

I cannot pin down the date. I want to say somewhere between 2003-2006 new detection methods were installed on schuler presses looking for error coins post-strike. I looked, but found nothing official describing the exact procedure or year.

[penny man]

Could it be something to do with the riddler or whatever they call the machine that filters out offsize coins?

[DCW]

What 2013 errors broung in 2k???

[simonm]

What 2013 errors broung in 2k???

Here is the original thread.

http://lincolncentresource.net/forums/showthread.php?t=29260

[willbrooks]

Could it be something to do with the riddler?

Forgive my image theft. Couldn't resist.

[trails]

The Mint has been cracking down on error coins released to the public since mid 2000 decade. The only errors that are making out the door are ones with a correct circular shape; all irregular shaped coins are being either detected at the Mint or being shipped back to the Mint by companies who are authorized to roll and bring these coins to the Federal Reserve Banks. Brinks, Strings & Sons, Wells Fargo are just some of the few that do this service. Under contract, they MUST returned any coin found that will not go through that companies coin wrapping machinery.

I do suspect that the three very modern error coins that recently sold on Ebay were somehow spirited away from one of the companies and were more than likely on hold to be shipped back to the Mint.

Were the prices high for these three error coins? "Yes". And then prices for such coins are realized, it leads to problems of people trying their hand at making those type of "errors".

Remember, education is the key and our sites (traildies.com, MADdieclashes.com, error-ref.com, Error - Coin - information - Exchange.com and the upcoming Cuds-on-Coins.com) are for your reference. Use them when every you have a question or contact us if you cannot find that information on one of our sites.

BJ Neff

[BadThad]

As I recall, it was 2003 when the mint really started cracking down on errors getting out.

[copperlover]

So is it correct to say that errors from 2003 -2013 should command a premium if the error is a rare or unusual coin? Based on what is currently on Ebay there are only a few genuine errors for sale if any for this period. It may be wise to collect die clashes, off center and misaligned dies,die caps,broadstrike and clips etc.

Lucien

[liveandievarieties]

I think you missed what was said Lucien.

Errors that are outside the size and shape of a normal coin are extremely rare. Clashes, MADs and Clips don't fit in those parameters.

What BJ said makes perfect sense, that these were smuggled from their way back to the mint for destruction. What makes me believe that is that 2 of the 3 errors obviously came from bags, they'd never fit into a paper roll. The third though- the clipped coin, shows undisputable evidence that it was the end coin in an OBW.

[copperlover]

Chris thank you for making the point that I totally missed. That is the reason why we are not seeing anything like those two coins mentioned. I know you always are helpful.

Lucien