Discovery coin goes for $898.88 on ebay for 2004 DD Obv/Rev Cent.

rich

Don't know if this has been posted yet
Discovery coin goes for $898.88 on ebay for 2004 DD Obv/Rev Cent.
Link
Is it just me or is the world gone insane???
Yes, there should be a slight premium for the first one discovered but I think the price is way overboard for this kind of error.It's not that dramatic and you need a 16x loupe to see it.
Just interested in opinions "a good buy or overpriced ?"

MadMarty

kieferscoins

What is funny Madmarty?

Cameron Kiefer

rich

MadMarty, you describe my feelings exactly!

Bikingnut

The doubling is so clear I can almost see it.

pharmer

The "discovery coin" aspect is overblown, but with, what 4-5 billion of those minted, it takes a lot of work to find a new variety, especially considering the mint has changed how it makes dies which has drastically reduced the chances of an rpm or double die from occuring, much less being found. It might not be your cup of tea, but it is truely very rare at this point, and will likely get a lot of people, even new collectors, looking for them and coming into coin collecting.

Bill

mr1931S

Not overpriced. The winning bidder just got carried away.

seanq

Don't forget when the 1995 Doubled Die Obverse was discovered, the first few examples sold in the $1000 range then too. I guess if you want to be the first on your block to own one, then that's about the going rate for a discovery coin. Once more are found, the price will settle - unless more aren't found, in which case the top of the market could stay right around that price.

Personally, I'll do what I did in 1995 - look for one of my own from circualtion, or wait for others to find them and saturate the market.


Sean Reynolds

nwcs

Considering that when the mint went to single squeeze hubbing that doubled dies were supposed to be impossible.... this coin is worth this money. And like so many other things in life, the first one found is always worth more than the rest.

Theop

I like how the scan of the news story states it's worth thousands of dollars.

I guess they meant a fraction of thousands.

rich

seanq, Technical question :What is the average life of a die ie: how many coins can be struck off it? 40-50 thousand or more? IF only one die exists for this error, at some point wouldn't die erosion or wear erase the doubling early on ? My eyes arn't as good as they used to be so I am not going blind looking for it.Unless I can see it without a loupe (or a loupe 5x-10x) I won't waste my time.

seanq

(Another question coppercoins could answer ten times better than me in his sleep - someone keep track of these).

rich - I think the estimate on die life is from 500,000 to 1 million coins. What most of us would call 'Early Die State' probably lasts no more than 25-50,000 coins. Assuming a doubled die runs for a full life cycle, typically coins from later die states will not show the division lines or crispness of an EDS coin. However, some varieties only exist in EDS because the die was removed from service, presumably because the doubling was noticed on inspection.

It is believed that up to 500,000 1995 Doubled Die #1 could exist, as the coin is known in many progressive die states. Only the VEDS and EDS coins have maintained their value. The 2004-P Peace Nickel DDO is also known in at least two distinct die states, which leads one to believe the die ran for a while and tens or hundreds of thousands of specimens could exist. Super-rare varieties like the 1969-S DDO are only known in one die state, as the die was pulled from service very early.

On the 2004 DDO/DDR cent, I would think the doubling onthe reverse die would be visible as extra thickness, especially on EPU and the dots, well into LDS. The DDO is much more minor and harder to see, so on a M/LDS coin you might not be able to make it out at all.


Sean Reynolds

lloydmincy

There SHOULD be a hard line to what can be considered a double die. The ever popular 1955 cent DDO is to me up there as the most obvious and beautiful true DD error. Some of these that come out, you need a Galileo telescope to see it. Well, I don't buy it (no pun intended).

I've looked at a few 1935 DD Reverse Buffalo Nickels. Hardly can be called a DD. Can barely tell. I want a BLATENT double press miss!!!

lloydmincy

In this case, the seller is also paying for the TIME to even find one. Can you imagine searching through millions of 2004 pennies, and how long it would take to find one, if you did?

rich

Thanks for the info Sean.
Like lloydmincy, I don't want to end up squinty-eyed like Mr Magoo !