Scraping The Bottom Of The Barrel (Real Damaged Coins)

OAKSTAR

We all probably have some of these in a draw somewhere. Not easy exchanging or redeeming them for functional coinage. The Federal Reserve apparently does not accept deposits of bent, mutilated or partial coins from banks or credit unions.

What are you guys doing with yours? And please don't say you're putting them on eBay! 🤣 😂

I found this "Mutilated Coin Redemption Program" but I "think" it's just for mint products. Whatever it is, it looks like the program has been suspended.

https://www.usmint.gov/news/consumer-alerts/mutilated-coin-program

PeakRarities

Please, just destroy them entirely or throw them in the trash. We don’t need future “scholars” bringing them back to the forum for validation of a “unique error” discovery. lol.

291fifth

RARE ERRORS!

jughead1893

Kurisu

@OAKSTAR said:
What are you guys doing with yours? And please don't say you're putting them on eBay! 🤣 😂

...Everyone here is smart enough to know that damaged coins belong on Etsy.
https://www.etsy.com/listing/1463398018/2015-kisatchi-mint-error-coin-2015

seatedlib3991

At one of my banks the tellers keep a large (5 Gallon) water jug by the sorting machine. They will ask if you want to see the rejects but I just tell them to toss them in the jug. James

hfjacinto

So these gems, I found in a parking lot, that was driving on, aren't worth MUCHO BUCKS? But ....

I saw on You Tube some guy selling errors for mucho bucks....

johnny9434

brainiacs at work

oldabeintx

“Scrapping” is indeed the simplest choice.

jesbroken

I've never been refused a damaged coin at a store of any kind that I can think of. I still get a Canadian coin quite often in change, so no one is really looking. Just spend it.
Jim

FrankH

@oldabeintx said:
“Scrapping” is indeed the simplest choice.

SHUT UP !!! That typo has been bothering my OCD all morning.

jesbroken

I get Scraping/Scrapping, but I still wish PCGS would add this emoji, as it might come in handy quite often.
Jim

PeakRarities

I think I count $1.50 there if I’m not mistaken. If you throw them in the trash, I’ll send you $1.50 on paypal.

pmh1nic

I've never purchased a severely damaged coin but I have gone for a coin that was details graded with a flaw I considered minor and saved me significantly with respect to price.

steve_richardson

So… send em in for grading, because you might have a $$$ error? And if not then you can sell them to @pmh1nic as details coins?

Just kidding…

But seriously, I’ll also send you $1.50 by PayPal if you throw them in the trash. Just so that we don’t have to see them again when someone finds one and thinks they have a super rare error.

OAKSTAR

@FrankH said:

@oldabeintx said:
“Scrapping” is indeed the simplest choice.

SHUT UP !!! That typo has been bothering my OCD all morning.

Sorry, it must be my Dyslexia.

pmh1nic

@steve_richardson said:
So… send em in for grading, because you might have a $$$ error? And if not then you can sell them to @pmh1nic as details coins?

Just kidding…

But seriously, I’ll also send you $1.50 by PayPal if you throw them in the trash. Just so that we don’t have to see them again when someone finds one and thinks they have a super rare error.

There is a line between details and damaged I won't cross I purchased a Barber half that had hairlines. It would be enough to bother a seasoned collector but not enough that I give much thought to (VF).

OAKSTAR

@DeplorableDan said:
Please, just destroy them entirely or throw them in the trash. We don’t need future “scholars” bringing them back to the forum for validation of a “unique error” discovery. lol.

Yes, that's probably the best choice. We all know if you can think of it, someone collects it. I bet there's someone out there with a 55 Gal. drum full of these damaged coins. It would seem there is no viable way to redeem them.

OAKSTAR

@DeplorableDan said:
I think I count $1.50 there if I’m not mistaken. If you throw them in the trash, I’ll send you $1.50 on paypal.

Yes, $1.50 I'll just chuck them.

PeakRarities

@OAKSTAR said:

@DeplorableDan said:
I think I count $1.50 there if I’m not mistaken. If you throw them in the trash, I’ll send you $1.50 on paypal.

Yes, $1.50 I'll just chuck them.

On behalf of the entire forum, thank you. You can send me your PayPal in pms lol.

steve_richardson

@pmh1nic said:

There is a line between details and damaged I won't cross I purchased a Barber half that had hairlines. It would be enough to bother a seasoned collector but not enough that I give much thought to (VF).

I do this too… I have a few AU details coins where the cleaning/scratch is so minor that it doesn’t bug me at all. I understand why some collectors would pass on them, though. There are plenty of details coins that I also pass on. Even if they are a “good deal”.

mr1931S

One should be able to get spendable money for them at the mint.Then they can melt or bury them.+

Sapyx

@OAKSTAR said:
I found this "Mutilated Coin Redemption Program" but I "think" it's just for mint products. Whatever it is, it looks like the program has been suspended.

https://www.usmint.gov/news/consumer-alerts/mutilated-coin-program

No, the redemption of worn, mutilated and damaged circulation coins are exactly what the Mint's mutilated coin return program was for. Redeeming and recycling old, worn out and damaged coins is traditionally part of the Mint's job.

The program was suspended in 2015, reinstated in 2018, re-suspended in 2019 and finally the Mint is now attempting to cancel this program entirely. It has proven vulnerable to fraud and misuse. It's been all over the news. https://www.coinworld.com/news/us-coins/mint-plans-end-of-mutilated-coin-exchange-program-seeks-comments

When mutilated coins were returned to the mint for destruction, the Mint sold the scrap metal to the highest bidder (because recycling it in-house to turn back into new coins was not cost-effective). Unfortunately, some unscrupulous scrap metal merchants were taking some of that "scrap metal" they had bought and were sending it right back to the Mint for re-redemption. Others, mostly overseas (Chinese) scrap metal merchants, were deliberately creating counterfeit "mutilated coins" that were good enough to fool the Mint into redeeming them.

And yes, it was indeed loss-making. The only way to make a coin redemption program profitable is if the scrap metal content of the coins being redeemed exceeds their face value. See the Royal Canadian Mint's alloy recovery program for a modern example of this.

OAKSTAR

@Sapyx - I think a good example of that is when the contractor who was paid to recycle these, quickly found out he could make more money by selling them.

emeraldATV

skier07

I use them for tipping my “favorites”.

Creg

@OAKSTAR said:

Oakstar, wait, maybe the one on the far right is a filled P, or no mint mark!

A gashed coin ain’t much, but a quart jar of them is pretty neat.

BillJones

Here's my worst piece. It's Merrimack _/ _CSS Virginia piece that was made from iron salvaged from the wreck of the ship. The rust is normal for these tokens. Sometimes it starts up again after the piece has been slabbed.

I view this as a relic. The iron in those piece was part of the plating on the _CSS Virginia _when the _Monitor _started firing at it.

OAKSTAR

@Creg said:

@OAKSTAR said:

Oakstar, wait, maybe the one on the far right is a filled P, or no mint mark!

You want it?

OAKSTAR

@BillJones said:
Here's my worst piece. It's Merrimack _/ _CSS Virginia piece that was made from iron salvaged from the wreck of the ship. The rust is normal for these tokens. Sometimes it starts up again after the piece has been slabbed.

I view this as a relic. The iron in those piece was part of the plating on the _CSS Virginia _when the _Monitor _started firing at it.

I got you beat! 🤣 😂

Creg

@OAKSTAR said:

@Creg said:

@OAKSTAR said:

Oakstar, wait, maybe the one on the far right is a filled P, or no mint mark!

You want it?

It is nice of you to offer. Even if it is a filled P, it’s a bit too beaten to go next to my shiny ones.
First day on the forum and someone wants to give me a coin.

JWP

@Kurisu said:

@OAKSTAR said:
What are you guys doing with yours? And please don't say you're putting them on eBay! 🤣 😂

...Everyone here is smart enough to know that damaged coins belong on Etsy.
https://www.etsy.com/listing/1463398018/2015-kisatchi-mint-error-coin-2015

What is Etsy?

ZoidMeister

I'm kinda fond of my damaged coins . . . .

Z

goodmoney4badmoney

My roadkill collection.

Creg

This was on eBay for two years at fifty plus. I collect automobiliia and watched. The seller did not recognize that it was Packard Autombile Co. and called it unknown. I wrote him yesterday, revealed what it is, and left a standing offer of twenty-five, and he accepted.

ZoidMeister

@Creg said:
This was on eBay for two years at fifty plus. I collect automobiliia and watched. The seller did not recognize that it was Packard Autombile Co. and called it unknown. I wrote him yesterday, revealed what it is, and left a standing offer of twenty-five, and he accepted.

Very cool.

Z

ZoidMeister

I also like certain 'asphalt cents.'

Z

ZoidMeister

Artistically damaged anyone?

The last two are probably my all time favorites.

Z

OAKSTAR

@ZoidMeister Talk about Artistically damaged. Check this out. This is amazing to me!!

https://www.youtube.com/watch?v=Jrdh_xrXIYM

Barberian

@Creg said:

@OAKSTAR said:

Oakstar, wait, maybe the one on the far right is a filled P, or no mint mark!

A gashed coin ain’t much, but a quart jar of them is pretty neat.

Bury them and it becomes a great metal detector find, except they'll be worthless.

Kurisu

...Wow.
Spotted this moring as soon as I hopped on ebay lol

OAKSTAR

It looks like a rice cake! 🤣 😂

Cougar1978

Damaged - I put them in change purse in car - just spend them at fast food drive thrus.

Errors like above don’t have any nor wb interested in keeping (auc blowout).

ZoidMeister

Reminds me of these from the Shire Post Mint . . . .

Z

@OAKSTAR said:
It looks like a rice cake! 🤣 😂

@Kurisu said:
...Wow.
Spotted this moring as soon as I hopped on ebay lol

TwoSides2aCoin

Chemistry 101

JWP