Off-Center Lincolns

dabugler

I recently acquired two off-center 2001 lincoln cents from a local dealer. I picked them up for a couple of bucks each. They both are at least 50% off-center and, unfortunately, are circulated. I would place there condition in the almost uncirculated range. Probably AU53 or 55. Both have full dates and are very well struck. The dealer had a whole pile of them (at least 50) and said that he got them from a friend of his who works for a change collection company. I think he meant something like Brinks who goes to banks and raids their vaults from time to time. Anyway, I was wondering if it would be worth the fee to send them to a grading service or are they common enough to only be worth the couple of bucks I paid for them.

Placid

A couple of dollars sounds right.

mbbiker

a couple bucks sounds right. They are not worth the slabbing fee thats for sure. Now if they were 2002's then it would be a different story.

prooflike

Why would 2002s be a different story??

dabugler

I hadn't realized they were common that year. Any ideas or stories on how so many got out of the mint?

mbbiker

why 2002's are rare
The Mint is now using all Schular(sp?) presses which doesn't create nearly as many errors.Then the Mint has added a machine similar to a bank counting and rolling machine to kick out any coins that are not uniform in shape and size.To top this off,the Mint has changed it's policys and now requires all counting rooms to return any errors that they find. Final result,few new errors to fill the current demand and record prices for those few that do exist.

In two recent private sales off center 2002 Cent's sold for $500.00 and $460.00 respectively.These were not some super fabulous mutant monster of a error with 42 overlapping strikes.This was only a lowly humble little off center Cent.

kieferscoins

There is a front page article on this in the latest coinworld and why the 2002's are much scarcer. Mbbiker is right.

Cameron Kiefer

MacCoin

lets see $2.00 coin $10.00 plasic what do you think

prooflike

thanks for the explanation mbbiker!

Baley

thanks mbbiker, that is interesting about the changes at the mint, makes one wonder why this wasn't done sooner.

what's fascinating to me is that someone would pay so much for an off center cent made last year, no matter how rare. supply and demand is a funny thing isnt it?

for that money can't you get an off center indian?

Dog97

They are only worth a couple of bucks if MS. If you listed them on eBay as AU they probably wouldn't sell. It's a common & low priced error.

dabugler

Thanks mbbiker for shedding some light. Does anyone have any idea how many 2001 made it out? I would imagine the drastic changes at the mint were a direct result of so many of them getting out.