1901-O Morgan Dollar Error?
Alfez
Posts: 4 ✭
Bought this coin at the flee market. Didn't realize the O was messed up. Still new to collecting coins. Does this count as an error?
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Not an error. The damage actually hurts the value. Did you get a good price on it?
Not an error or variety, there just happened to be a hit on the “O”.
Type collector, mainly into Seated. -formerly Ownerofawheatiehorde. Good BST transactions with: mirabela, OKCC, MICHAELDIXON, Gerard
There is a big difference between an error and damage.
You have damage which hurts the value of the coin.
An actual error could potentionaly increase the value.
If you got it for under $20 it's an error (you got it too cheap). Sell it to me for $25. If you paid more than $30 for that you're the kind of buyer I'm looking for.
We call it a "cull" , on this side of the counter. Stack them high but their value is attached to the current silver spot prices. It's a common date Morgan and aside from the mintmark damage, it's got gouges and is often referred to as a "hole filler" for album collectors. I like silver. Stack up the culls if you want. They'll hold their intrinsic value, but that's about it, friend
In addition to all the guys and gals posting before me, even the damaged coins are fun to fill albums with.
Go for quality, in numismatics !!!
It's getting harder to find and it's much costlier. But if you want to stack silver at a low price, culls are one way.
While damage lowers the value of a great many coins, in the case of this heavily circulated, common-date Morgan dollar, the value is unaffected.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.