Was anyone else watching the error coin auction at Heritage last night?
seanq
Posts: 8,675 ✭✭✭✭✭
Heritage held an internet-only auction last night featuring just error coins, the lion's share of the offering consisted of date sets of off center Lincoln cents and Jefferson nickels on cent planchets. The O/C Lincoln set was probably 75% complete by date / mint mark through the mid 2000s, and the off-metal Jefferson set was at least 50% complete through 2001.
Often it's hard to estimate prices for error coins since each one is generally unique, and there are no price guides to refer to, so auctions like this can be a useful benchmark.
Link to auction and prices realized
The early O/C Lincolns saw strong money, which was not surprising to me, but I found the prices on some of the later dates shocking. Who would have guessed an O/C 1973 (NGC 66RB) would realize the same $480 hammer price as the 1973-S (NGC 62RB), and more than the 1974-S (NGC 63RB, $456), the latter coins being generally recognized as the key dates in the Memorial series. The 1979 (NGC 65RB) and 1979-D (NGC 63RB) also went for "moon money", selling for roughly $400 and $200 respectively.
Among the wheat cents, a really nice O/C 1909 (NGC 65BN) sold for $4200, and the only known off-center 1922 No D Strong Reverse, graded PCGS XF40, sold for $7800.
The prices realized for the off metal nickels were very strong across the board, especially the WWII era coins, the highlight being a 1943-S struck on a steel cent planchet (NGC 66FS) which sold for $13,200. Even the later dates saw strong money, highlights included a 1979 nickel struck on a 1978 cent (PCGS 63RB) which sold for $3360, a transitional 1983-P struck on a copper cent planchet (PCGS 64RD) which realized $4320, and a 2000-P struck on a 1978 cent (PCGS 65RB) which fetched $2400.
Other cool coins in the collection included a 1965 transitional dime struck on a silver planchet (NGC AU58) which sold for $8400, and New York (NGC MS65) and South Carolina (NGC MS64) quarters struck on feeder finger scrap which sold for $4800 and $2640 respectively. There auction also included a smattering of errors in classic series such as Trade Dollars (an 1877S with a partial collar, PCGS AU55, sold for $2520) and silver dollars (a 1921 Morgan, double-struck in collar, PCGS AU58, sold for $2666.40) and even an off center 1912 gold Quarter eagle (NGC 64) which sold for $6600.
It was nice to see error coins take center stage for at least one night. If anyone won anything from the auction, please share your new acquisitions here.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Comments
Wow that's really good!
Collector, occasional seller
Nice recap! While I generally don't collect error coins, I do love to look at them and have picked up a handful for my collection. My favorites are the wrong planchet errors, even non-collectors can appreciate and get a kick out of those coins.
10-4,
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My registry sets
1909 (NGC 65BN) sold for $4200
Wow I remember paying top dollar when I was working on early O/C Lincoln's but $4.2K is beyond insane.
Maybe 2 bidders loved the non original chemically enhanced blue surfaces?
It was nice to see error coins take center stage for at least one night
Yeah prices were strong on those early Lincoln's, but that was a pretty impressive set with some branch mint errors that can take many years to locate.
That's all news to me.
The only thing about O/C Lincolns that I was really familiar with were the ones you could find going through a mint sewn bag. The kind of stuff where dateless are available for a buck a pop !
Very interesting !
Clearly @ErrorsOnCoins is out panhandling to pay Heritage. I can't believe he hasn't weighed in yet.
Most of the offerings seemed to be outside his wheelhouse.
Maybe, but you'd think he'd have thoughts. Either heritage is promoting his niche or heritage is invading his niche.
Speaking as someone who has spent the better part of 30 years building his own date set of Lincoln cent errors, I can 100% vouch for this statement. I have the utmost respect for the collector who built that collection.
When I decided after college to do an error coin date set, I quickly realized that the early O/C Lincolns were price prohibitive. I took a run at the memorial cents and at one time had maybe 75% of the copper set, there are some sleeper dates that are way harder to find than most realize (1961, 1968, and 1969 jump immediately to mind). It doesn't look like anyone slept on those coins in this sale, I imagine some of the head-scratching prices were due to a couple of collectors trying to fill holes in their own sets.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
I like the Kennedy half struck on a cent planchet. Very distinctive with reddish orange colors. Even so, it went for 3K+ - too expensive for my budget.
"Got a flaming heart, can't get my fill"
Thanks for the detailed info
@seanq
I would think that @ErrorsOnCoins was watching ?
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I was the winner of the South Carolina quarter struck on the feeder finger. It becomes the highlight of my collection of South Carolina State Quarter errors. I always figured if you're going to collect Statehood Quarters, do it with some style! Here's the error:
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I was for a little bit on a couple of prospects...someone wanted them more than my slush fund would allow.
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Followed nearly the entire auction. Bid on a few but set realistic limits for myself. I would like to own but didn't want them in my coffin with me when I pass. Did pick this one up for a reasonable price I thought. I like the double dated stuff.
Was surprised how many Jefferson struck on Lincoln cents/planchets that were offered. Depending on the date and grade, a number of them went for 2 to 3 hundred. Would have loved to own the 2000 Sacagawea struck on a Maryland quarter in 67. Too rich for my blood though. Had a great time last night and learned a lot.
BTW, expect the Dealers to be hawking errors at your next show. Lot's of offerings last night went to new homes. Let Heritage auction results be your friend.
Expect numerous "error coin" posts to pop up right here on this site!
Definitely...since these are normally found in parking lots and in change received from the local 7-11 yes?
Definitely the most interesting errors pop up in parking lots. I found a 2016 Lincoln cent in the parking lot this week that had at least 50 strike-through errors ALL ON ONE COIN!!!! I'm not sure what was struck through. It almost looks like their was 50 pieces of gravel in the press during striking...
The O/C 12-D that sold in that set I bought off Al Levy about a decade ago. When he went to send it my way the parcel was lost getting out of his car in the post office parking lot on a rainy windy day. $#!+ happens but I was a bit crushed as it's the only 12-D O/C error I knew of. A year after Al passed away it showed up on eBay being offered by another coin dealer in the same town at 3 times my original price paid. Perturbed I soon quit my set and sold off all but 1 Wheat error for my type set.
See! These things are found in parking lots!
He might have caught a Goldfish?
Nice to see an error only auction. Plenty of Lincolns as 12 trillion a year are still made.
No bids as i didn't see anything of interest in the dollars.
Al had some terrific coins, I remember buying from him frequently in my early days on eBay. I noticed that while the auction last night had the off center 1922 No D, it was missing a 1922-D. I was fully expecting to see a coin Al had sold on eBay in the late 1990s, an O/C 1922-D on a large clipped planchet. I remember it sold for over $800, which was mind-blowing to me at the time.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Actually, I had no clue about that auction, Probably a good thing
Last night, I was prepping to go out fishing.
Good to see strong prices
Isn't that strange? I'm sorta rejuvenating coin interest in errors.
Far more interesting to lay people than grade races on older types.
No stickers either.
I was keeping an eye on the Morgan dollar errors, especially the double-struck. Pretty impressive results. Even a 45° die rotation got a pretty big premium. Morgan errors other than filled dies and 1921 rim clips are few and far between.
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I am not happy with Heritage promotion/advertising department as I did not even know about this auction.
How could I not know about this auction???
Granted, I have never bought anything from Heritage, but had I know about this auction, I would be doing another buying coins on credit thread
Totally missed the auction - didn't even know about it - thanks for the report and link.
WOW!!!
Looking more closely at the realized prices of these major error coins show I may be underpricing my major error coins
Many of the error coins sold were in my inventory at one time. Maybe I should do a Heritage Auction, WOW!!!
The error coin market is very strong with increasing prices as the supply dries up.
@Coinstartled called the auction to my attention. Maybe Heritage should hire him.
Anyhow, I didn't bid on any but it's pretty clear that errors are getting some collector and dealer attention.
I did buy one at a fixed price on e Bay a week or so ago. Looked it up on Heritage archive and I paid $100 less than the consignor got a while back. Pricing is of course to be considered, but more to my interest is how cool they are.
What's up bud, Coinstartled, why no love for me telling me about this uber cool error auction
Don't give him a ration. I told him about my new interest in errors and he follows auctions pretty assiduously.
""Of course, great business people resolve problems and move on.""
They also stay up on the auction schedules.
Well, it is an obscure auction house in a 3rd World country - how would he have ever known?
Yes for me it is as I never check Heritage Auctions. Have they EVER done a huge online error coin auction like this???
LOL. No, but they do have error coins in their weekly auctions quite frequently.
I couldn't help but notice that the 1999-D nickel on cent planchet that was in your "new purchases" email is already gone from your web site. After looking at those prices realized, did you decide to send it to Heritage instead?
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
I'm not even sure how I stumbled across it, I am not on any mailing lists and I don't regularly check their auctions for clips.
Having said that, I did a quick check of their recent archives and in the last three months they basically gave away two nice clipped pre-1921 Morgan dollars, so I should definitely check there more frequently.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
I believe you are thinking of Jons email today
You're right, I can never keep you guys straight. This is at least the third time I gotten the two of you confused. Apologies (again).
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
How did off center Indian cents do?
Create a Heritage account and you’ll get email updates regarding upcoming auctions. Easy to do and worth your time given you’re a dealer.
"Got a flaming heart, can't get my fill"
I actually do get emails from Heritage and I guess an account (because I can see pricing) altho unused.
Unfortunately, I treat it as spam
Then don’t blame Heritage for poor marketing!
"Got a flaming heart, can't get my fill"
I wanted a phone call, it would have been worth their time.
Was The Penny Lady participating?
Well... no pix=no participate... ????
Prices were very strong at high retail, bodes well for that segment of the market.
I wish I knew someone from "that segment."
I believe this auction is now effecting other error coin auctions as coins that I was looking at auction are bid up out of my price range.
Good and bad for me I guess.