NEWBIES - FYI - What is the most you've ever gotten for a roll find "Mint error"?

jmlanzaf

It just seems like there is a proliferation of change hunters looking for "rare mint errors". For experienced hunters, can we try and set the expectations?

1. What is the largest premium you've actually received for selling a found "error"?

2. How many coins did you look through before you found the error?

   Let's separate striking errors from die varieties, if we can.

jmlanzaf

I'll go first. On the variety front:

I got $400 for a 1942/41-D dime that I found in a silver bucket. I used to go twice per week to 2 local B&M's and they let me search through the bulk silver. I did this for about 4 years, so my best guess is that's about 600 trips (200 weeks, 4 trips per week, missing a few weeks) while going through maybe 1000 coins each time.

Second and third best finds: I also got $75 each for a pair of 1950D/S quarters found the same way. Again, roughly 600 trips with maybe 500 coins each time.

So, my variety front: I made $550 after searching approximately 900,000 coins over the course of about 1000 hours.

jmlanzaf

On the error front, I never got more than a buck or two for an off-center strike find or a clipped planchet.

Oldhoopster

Back in the early days of state quarters, I used to put away some rolls of each issue. Got a roll of VA quarters from the credit union near the issue date and found 10-12 tilted partial collars. Sold a few of them on eBay and averaged about $10 each.

That was my only score on error coins in almost 50 years of collecting.

I don't think there is anything wrong with looking for error coins. I'll set aside the minor die crack or strike through if I see it. HOWEVER, it is disconcerting when a thread starts out "I found this error, how much is it worth" and the pic shows an obvious PMD.

Hopefully, this thread will help new collectors understand that trying to get rich from pocket change is an exercise in futility.

P0CKETCHANGE

The proliferation of "get rich quick" YouTube videos about roll hunting is definitely a cause of the proliferation of change hunters. The videos appeal to human nature in the same way that the lottery does. My guess (although I have no facts to support this) is that lower-income, less-educated folks are more attracted to the messaging.

I suspect that most people start with enthusiasm, quickly lose hope when they realized the drudgery required to do it, and never try again. A small percentage stick with it, and an even smaller percentage realize that they enjoy coins and wade into collecting.

While I can't answer your direct question since I'm not an "experienced hunter", on occasion I've sorted through change jars that either I or a family member had accumulated. The best thing I found was a 1983 DDR Lincoln Cent, about 20 years ago when I was a kid cleaning out my mother's car. Still have it.

privatecoin

I have found some randomly, but never sold one.

JBK

I found a 2016 nickel struck over a 2015. It was credibly appraised here for around $3000 but some dealers ask significantly more than that for similar coins. It is rare enough that the true value would only be set by selling it, which I won't do.

I searched a couple hundred thousand nickels over the course of some years before I found that coin.

Aside from that coin, the miscellaneous minor errors, silver nickels, Buffalos, etc. do not even come close to paying the gas money needed to buy and then return the coins,

In my case I have another project that coincides with roll searching (can't go into details ) so my time is actually spent on that project and the finds from roll searching are icing on the cake, For me the whole process involves leveraging a couple opportunities.

Roll searching by itself is a labor of love only - it is not a paying job,

JBK

@jmlanzaf said:

So, my variety front: I made $550 after searching approximately 900,000 coins over the course of about 1000 hours.

You could probably earn more than that working in a factory in China making athletic shoes.

messydesk

Something like $600 each for a couple MEL Washington $1 coins that ended up in First Day holders. Of course, I didn't "search the rolls" until they came back in plastic.

BryceM

Never, and I've been through a few bags and boxes.

I'm happy enough just to find the occasional wheat cent. Been about 2 years.

JBK

@messydesk said:
Something like $600 each for a couple MEL Washington $1 coins that ended up in First Day holders. Of course, I didn't "search the rolls" until they came back in plastic.

I guess the standard answer might not apply when there is a specific universe of coins to be searched, such as rolls of GW dollars, or new quarters, etc. I know a few people made a killing on those missing edge lettered coins, for example.

BillDugan1959

@Oldhoopster said:

Hopefully, this thread will help new collectors understand that trying to get rich from pocket change is an exercise in futility.

+5,000 on the agree button.

This is the best thing said by a seasoned member of this forum in a long time!

ctf_error_coins

I have roll searched and bag searched tens of thousands of newly minted coins.

I have found exact 3 major mint errors, A shield cent struck on a defective planchet that I sold raw for $200. One 100% and one partially improperly annealed planchet Bison nickels, both now certified.

I discovered and Coin World published the Two-Horned Bison which is a die chip that looks lie a second horn.

I found thousands of minor repeatable errors that photographed good and I was able to make a decent profit on.

All in all, If you want to find major error coins, I found that my time was best spent in finding major error coins found with someone else's labor and not mine

JBK

@ErrorsOnCoins said:

All in all, If you want to find major error coins, I found that my time was best spent in finding major error coins found with someone else's labor and not mine

So it is worthwhile for all these newbies to be roll searching!

So, yes, finding errors is very worthwhile and profitable, just not for the ones doing the grunt work.

lkenefic

I used to search rolls as kid circa 1968-1975. I used lawn mowing money to buy rolls of cents, nickels, and dimes. In seven years I found a few coins with minor rotated dies, but no major errors that would have fetched a big premium (no over dates, DD's, off center strikes). I ones I manage to pluck from circulation managed to find their way back into circulation, so my searching was in vain.... I should have used this as a metaphor for life! ;-)

ctf_error_coins

@JBK said:

@ErrorsOnCoins said:

All in all, If you want to find major error coins, I found that my time was best spent in finding major error coins found with someone else's labor and not mine

So it is worthwhile for all these newbies to be roll searching!

So, yes, finding errors is very worthwhile and profitable, just not for the ones doing the grunt work.

Actually, roll searching new mint state rolls is a great exercise in learning and recognizing different mint states of different dies.

Yes, I see it as I have millions of non paid employees out there working for me

messydesk

@ErrorsOnCoins said:

@JBK said:

@ErrorsOnCoins said:

All in all, If you want to find major error coins, I found that my time was best spent in finding major error coins found with someone else's labor and not mine

So it is worthwhile for all these newbies to be roll searching!

So, yes, finding errors is very worthwhile and profitable, just not for the ones doing the grunt work.

Actually, roll searching new mint state rolls is a great exercise in learning and recognizing different mint states of different dies.

Yes, I see it as I have millions of non paid employees out there working for me

In the good old days, all you needed was one or two well-placed Mint employees working for you.

1630Boston

This is the only 'error' I have ever found, and I love it.

ctf_error_coins

@messydesk said:

@ErrorsOnCoins said:

@JBK said:

@ErrorsOnCoins said:

All in all, If you want to find major error coins, I found that my time was best spent in finding major error coins found with someone else's labor and not mine

So it is worthwhile for all these newbies to be roll searching!

So, yes, finding errors is very worthwhile and profitable, just not for the ones doing the grunt work.

Actually, roll searching new mint state rolls is a great exercise in learning and recognizing different mint states of different dies.

Yes, I see it as I have millions of non paid employees out there working for me

In the good old days, all you needed was one or two well-placed Mint employees working for you.

I was not around for those days

I did once buy a lot of error coins from someone who said they got it from a Brinks driver.

I have thought about this and truly believe it is way better today because of access to error coinage via the internet using digital photography.

CoinHoarder

At one time, I was into roll searching. I was looking for old coins such as wheat cents and old nickels. And of course, silver coins.

I had very little luck, except for common date coins. I eventually realized that I did not want to accumulate wheat cents and old nickels that really have no value over face.

Never found a doubled die or anything significant.

If I need a coin or 90% junk silver, I would just rather go buy it than search through rolls and go through the hassle of re-rolling and returning the coins.

Jimnight

0

scotty1419

@jmlanzaf said:
I'll go first. On the variety front:

I got $400 for a 1942/41-D dime that I found in a silver bucket. I used to go twice per week to 2 local B&M's and they let me search through the bulk silver. I did this for about 4 years, so my best guess is that's about 600 trips (200 weeks, 4 trips per week, missing a few weeks) while going through maybe 1000 coins each time.

Second and third best finds: I also got $75 each for a pair of 1950D/S quarters found the same way. Again, roughly 600 trips with maybe 500 coins each time.

So, my variety front: I made $550 after searching approximately 900,000 coins over the course of about 1000 hours.

So $0.55 an hour? lol

DCW

Not everything is about profit, folks. Roll searching is a relaxing way to enjoy coins at face value. You also never know what will turn up, and that is exciting to alot of people newbies and veterans alike.
Why try and extinguish that passion with a snarky thread about how they're wasting their time? Maybe it is more about the JOY of collecting coins and less about MONEY. No pun intended of course.
Here is my treasure, a 1983 doubled die reverse cent, found searching bank boxes:

Graded PCGS MS64RD. Took me 3 years to find it, a total waste of time by the OP's standards. I'm sure I could have just slapped the $200 down and worked overtime instead, but there is just something about finding a variety in the wild that cannot be quantified.

Zoins

@DCW Wow! What an amazing find. I love that coin and it's incredible you found it searching bank boxes!

I agree there's something very satisfying about finding a coin.

Good perspectives everyone. I like the research angle @JBK has and the discovery @ErrorsOnCoins found. But as @JBK says, it's a labor of love.

divecchia

In my opinion roll searching is akin to buying lottery tickets. Like lottery tickets, in roll searching there are many small winners, so if you find roll searching fun, then go for it! A hobby should be about having fun, but if you expect to make a huge score, like lottery tickets the odds are against you and there is usually one big winner in a sea of losers.

Donato

jessewvu

1946-s sans serif dime. Found in a $100 bag of junk silver. Sold for a little over $800. Bought a small jon boat, a 6hp outboard, and a trailer with the proceeds. I’ve used that boat countless times fishing on a lake with family/friends and have caught bushels of blue crabs running my trot line with it.

Smudge

Never done that.