Waffled coin set

astrorat

In November and December Silvertowne (via eBay) offered between 4 and 6 sets of "waffled" coins - you know, the coins that went through the US Mint's "waffler" as a measure to destroy them. The sets were all certified by NGC and contained a MS Missouri quarter, waffled blank, waffled blank (with overlap), and a waffled Missouri quarter.

During a floor tour of the Mint last year (yes, another great reason to go to the ANA's Summer Seminar . . . personal floor tour of the Denver Mint!), we saw bins of these pieces and were told that the waffled coins were not going to be released/sold/whatever, but would be destroyed. Obviously something went amiss.

Do any of you folks know how Silvertowne (or anyone else) got access to these?

Lane

Bochiman

I heard about the waffling, selling of such, and Mint's response early/mid last year.
Basically, the Mint is NOT reselling, etc etc etc.

They do sell the scraps as scrap metal I believe. At that point, since they are no longer coins, they don't care what happens.

There are HUGE amounts of these things out there....not worth more than a pittance, imho, as a souvenir even.

Deadhorse

Mmmmm.............. waffles

astrorat

<< <i>They do sell the scraps as scrap metal I believe. At that point, since they are no longer coins, they don't care what happens. >>



Is this a gut response, or has the Mint documented this? Because it flies in the face of what the Denver Mint officials told us directly.




<< <i>There are HUGE amounts of these things out there....not worth more than a pittance, imho, as a souvenir even. >>



What do you mean by HUGE amounts, seriously? You have seen these on the floors? Because they sure are not showing up elsewhere.

I appreciate any info, thanks!

Lane

Bochiman

I haven't paid attention to them in a year or so.
Last I saw, they were all over ebay.
Also, once I saw the article (not sure if it was Numismatic News or where) and the Mint said they would not go after the people selling the scraps since they were no longer coins and had already been sold as scrap metal, there is WAY too much potential to there being tons out there.
Maybe they changed their stance in the last year, but I doubt it.

I may be stupid, and I may pay a little extra for a nicely toned, nicely lustered, or even a real error coin, but I am not going to pay extra for scrap garbage (no offense to those that want some....I just wouldn't pay much for it).

If anyone else can remember that article, or knows more about the issue, I would like to hear it too, but until then, I will go with my belief that there is a lot of this out there, it isn't policed, and some scrap metal dealer has literal tons he is sitting on

kieferscoins

Coinage had a big article on the waffled coins in their latest issue by David Camire of NGC. It sounds like the Mint is selling the waffled coins as scrap and after that the companies are free to do with them as they please. The Denver Mint official might not know what he is talking about or the Mint has changed their stance. The Mint is not selling them as sets or in groups to collectors.

Cameron Kiefer

astrorat

Thanks for the updates . . . !

Lane