Was KinCoin right? Silver proof die cracks galore!

crito

So I just read collect.com's Numismatic eNewsletter. According to Ken Potter "Error dealers around the country have estimated the value of this newest Spiked Head find to be at least double, possibly triple, the current $70 retail value of the full 2002 silver proof set." and the editor said "Now a second coin variety has been discovered in the 2002-S silver proof set that could make some sets worth four to six times original issue price."

Original article on spiked head kennedy

KinCoin was told die cracks add nothing (or very little at best) to the value of these coins...

LucyBop

all hail the King!

WWBillman

Numismatic News had a picture of the "Pissing Minuteman" in the article

crito

I posted this Tennessee quarter I found the other day in clad proof set. Nobody here seemed interested... but just in case anyone claims credit for the discovery later:




It's not coming out of the head or chin, more like the neck, straight through the D, to rim. I'm calling it "George on a stick" but "the spiked neck Tennessee clad proof variety" is OK too I wonder if that'll fit on a slab label, hehe

kranky

I'm pretty sure the NN article cited some dealers who backed off their original estimate for the spiked head Kennedy die crack, so maybe they are being a little excitable.

I'll believe the estimates when I see actual sales at those prices.

goose3

<< <i>Was KinCoin right? >>



Well he is/was THE KING OF COINS!

personally, I wouldn't pay any premium for them unless they looked like that CWT that Shylock posted a pic of.

crito

The two they quoted, Potter and Weinberg, are tops in their field (error coins that is). I'd take their guess-timates over anyone elses any day.

Cam40

The more dramatic ,visable, or seemingly impossible the error the more value I think is how it works.
Name recognition can be another driving force of percieved value.ah la ``55 Bugs Bunny Half`,................
Lets call this one the `3 legged Kennedy`.

crito

Doesn't this guy work for PCGS?

Dog97

Your link takes me to an article called "Two dealers plead guilty to autograph forgery" so I can't comment on it.
I don't doubt that Potter & Weinberg quoted the sets @ 4-6X issue price since they will be selling the sets.
IMO it's just a bunch of hype like all the new discoveries are. They will have strong prices at first until the handfull of collectors who want those kind of things get theirs then fizzle out.

BigE

Wow, that's a prety big crack! Looks like he is being struck by lightning------------BigE

crito

Well, http://conecaonline.org/ has it on the front page of their web site. They're supposed to know something about these things too




the cracks don't seem all that large or dramatic to me, and the importance of the "head" location eludes me. Bugs Bunny Franklin's I can understand, but a spiked chin or head as opposed to another part of a founding father's anatomy... I don't get it

Dog97

Thanks for the coneca link. I agree they are neat and major as far as cracked Proofs are concerned but they don't give me a jolt. JFK error collectors are starved for errors but few bother with cracks.
Any prems will come from the marketing hype and not the nature of the error. IMO of course.

prooflike

Hey, modern people need something to collect too

Personally, I can't see a die crack commanding that much premium.

rd5425

I'm glad I never sold my "pissing minute man" does any one know how many of these are out there?

crito

I'd think a die would be more likely to crack striking nickel than silver, so a little surprised the Jefferson is getting this kind of attention. Maybe I should send my clad Tennessee quarter to Coneca

No idea rd. I don't have one of those.

MadMarty

From what I have heard of there are only about 10-15 known right now. I think KinCoin has 3 or 4, I have 2 and a few other people have 1 each.

MadMarty

richbeat

From the July 2003 COINage, page 101:

" 'I'd say my level is $300 to $500,' Weinberg said. 'It's not a $2000 coin.' Another error dealer would concur with Weinberg that this is 'not a $2000 coin'--but that's because he publicly declared that the cracked Kennedy was worth $5000."

The article did not identify who this error dealer was.