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Why is the planchet flaw the Rodney Dangerfield of error coins?
Coinstartled
Posts: 10,135 ✭✭✭✭✭
This key date cent realized $504. About half of what a straight graded coin in VF would bring.
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'Cause, like Rodney, it's unique.
PS: It's nice that NGC noted the "Obvious Planchet Flaw" on the label, too.
An error collector would not buy that coin.
A type collector would not buy that coin.
Thus the price.
Someone bought it.
Why
Because it's a $5 error on a $1,000 coin.
The $1,000 buyer doesn't want a distracting surface on their coin.
The $5 error buyer doesn't want to pay $1,000 for any example of
a planchet flaw.
This, exactly!!!
Before Fade to Black chimes in...I don't see DMPL mirrors on it either.
This type of question seems to come up from time to time.
It seems that on rarer coins, an error detracts from the value, for the reasons above.
When the main value is in the error, the price reflects the error. But when the main value is in the date/mm, the error (can) detract from the value.
I would agree if this were a condition rarity as say an 1881-S Dollar in MS67+, where the lower MS grades fetch under $50.
AG3 coins in this date start at $300
Offer me a Planchet flaw on a Bust Half... and we will talk business......