unlettered edge not so rare after all

BigDaddyz

This guy has 75 of them for sale, they can't be too rare for that to happen

ebay

holeinone1972

Better hurry, he says they are going to be recalled. LOL

dbldie55

Another person found 109. The person who sold the first one for $612 said they would never be lower than his current BIN of $249. I guess the person who bought that one should have waited and picked this one up for $80

larrynj

i'm a gambler, i bought one for $80. be less trouble that way.

LALASD4

Some went for $50. I'll wait until it hints $10.

57loaded

I think it is insane


ebay link

I really wonder how many blank edges this buyer will get. It might just pay to say you flew to FLA and picked up a box of these dollars today and have found errors and start selling the rolls....watch out.

I don't think they will be rare, for sure the price will drop down, to a "premium novelty", then who cares....

Will admit to looking at this a lot over the weekend and now. And even bidding if I could find one ending at an odd time, but I had my price limit.

Oh or the few who are claiming the mint mark is "upside down" as a possible error.....somebay paid over #20 for a $1 coin.

Loaded

19Lyds

Hmmm. I dont think it is unusual to find common errors in BU rolls. How many extra leaf Wisconsins were found in the same roll, both Hi and Lo leaf varieties? How limited was the distribution of these? As near as I remember, Tucson AZ and San Antonio TX.

It seems to me that if there were a malfunction with the coining process that were not discovered rather quickly, it would equate to a lot of the errors appearing in the same coin lots. These would in turn show up in the same bag lots and roll lots.

Besides, given the 300,000,000 order by the Federal Reserve, 184 out of 300 million sounds fairly unusual.

The rather high opening price is not unusual on Ebay either as a lot of people want to be the first on the block to possess something unusual and are willing to pay the high price. Are they gamblers? Absolutely! If these plain edged coins turn out to have an extremely low mintage then they win, if not then at least they have their coin.

57loaded

<< <i>i'm a gambler, i bought one for $80. be less trouble that way. >>



that's cool if it's within your budget, why not?

Russ

<< <i>Get yours now before they are recalled. >>



Yep, you better bury them suckers before the secret service comes knocking at your door.

Russ, NCNE

ipmman

It's basically a filled die error, unless there are blank collars out there leftover fom the "NOT Golden" sackie dollars. I still wouldn't pay those prices, especially since this is apparently a common, undramatic error.

Recall??? This would be almost logistically impossible, and cost millions to melt and restrike them. Please tell me a single instance when the US Mint Recalled coins. It will never happen.

Longacre

I went to the bank on Saturday with the kids and got 10 of the new coins. I have to admit that the first thing I looked at were the edges. If they were plain edges, I was going immediately home to list them on Ebay. They were the regular kind (the kind that are only worth a dollar), so I spent a few of them.

TheNumish

Don't know how anyone can think this isn't a dramatic error. I think these are going to be pretty hot. I know I want one.

Russ

<< <i>It's basically a filled die error, unless there are blank collars out there leftover fom the "NOT Golden" sackie dollars. >>



It isn't a filled die error. The edge lettering is a separate process that's done after the coin is struck.

Russ, NCNE

itsnotjustme

Rad carefully. Some of those $50 coins are for upside down edge lettering!

flaminio

<< <i>Don't know how anyone can think this isn't a dramatic error. I think these are going to be pretty hot. I know I want one. >>

It's dramatic enough; it just isn't particularly rare. If I don't find one myself, I think I'll wait until they get below $10.

BECOKA

<< <i>

<< <i>It's basically a filled die error, unless there are blank collars out there leftover fom the "NOT Golden" sackie dollars. >>



It isn't a filled die error. The edge lettering is a separate process that's done after the coin is struck.

Russ, NCNE >>



i.e. the coin missed the process completely.

itsnotjustme

Someone is going down the list hitting BIN as I watch!

larrynj

it would make a cool collection of ALL the upcoming presidential dollar coins with a smooth edge. at least there would be no mintmarks to collect.

CoinHusker

<< <i>Better hurry, he says they are going to be recalled. LOL >>




He must work for Kroger.

itsnotjustme

Fool Frosty2062 just paid $50 for 10 upside-down lettering coins. What a scam. There's a sucker born every minute, and that sucker is the fool, and the fool has money, until it is separated from him/her.

WinPitcher

Sigh


Steve

commoncents05

holy crap they all sold at $75 each. thats a lot more than i would pay for one.

-Paul

notwilight

Just based on population, I would think this could end up a pretty valuable error if the cause is just a startup glitch that the mint irons out quickly. They're all gone now but I would probably have gambled on 10 of them for $400 if it was still available. --jerry

rhedden

These might offer better odds than Vegas if you've got wads of cash to gamble, but odds are they turn out to be worth face value in 3 weeks.

Outhaul

<< <i>Some went for $50. I'll wait until it hints $10. >>


I'll just wait until I get one in change.

bushmaster8

Hilarious!

notwilight

Maybe those of you tha think they'll be very common are exhibiting great wisdom. Maybe there won't be that many and the guys that bought them yesterday at $40 will turn out to be bright. I tend to think that the quality is pretty high and error rate is pretty low on mint products. We'll just have to wait and see. The two part process cold turn out to be a process weakness they can't overcome reliably.

So perhaps the guy we were calling names for offering the bank $50 for 10 was stupid for paying so much?

We'll know in a few months.

LalaSD, do you have an opinoin? you do errors.

--Jerry

ricko

It would appear there are several lessons to be learned from this episode.
1 - Variations of any sort sell for high premiums when first discovered
2 - Someone will spend their money, in large amounts, in the rush to own a perceived rarity
3 - In the fever of the rush, even conservative collectors will opt to buy 'just in case'..
4 - Those who do not buy, will, if the variant does become valuable, lament their lack of foresight

Oh yes, one last lesson -
5 - The entire affair will provide much entertainment for the rational audience.

Cheers, RickO

BobaFett72

i better get my hands on these incredible rarities!

joeyuk

Don't think it's the case here but I wish I could go back
to when you could get all the high/low Wisconsin quarter
sets you wanted at $100 a pop.

mrearlygold

Now where oh where is that friend of the collector, that lawyer among lawyer Chuck Lipcon when the collecting world needs him

commoncents05

In this picture, why is the edge a different color than the two with letters? It looks weird. It looks like the edge was groud down and hit a different layer of metal. Picture taken from This ebay auction.


-Paul

BobaFett72

hmm, maybe its the light?shadow?

dpoole

The phenomenon does remind me of the high leaf/low leaf Wisconsins, save for the "romance" of its not likely to have happened surreptitiously and on purpose.

It apparently occurred in a particular production run, and they were apparently shipped to only one particular location in Fla. The error is obvious, dramatic and visible to the naked eye. There is the question of how quality control at the Mint failed on this one. And there are the open questions of how many in the final analysis are out there, and whether the error was/will be unique to this particular production run.

'tis wise to be wary. But honestly, folks, the cynicism here about such things surprises me. If coin collectors can't think such phenomena are exciting and neat, then who can?

Texast

I've watched these going in the $200 range all week, I was glad to pick one up at $80, I've heard stories about the 55 double dies going for a quarter when they were discovered, wish I had a few rolls at that price...

RVDavis

<< <i>The phenomenon does remind me of the high leaf/low leaf Wisconsins, save for the "romance" of its not likely to have happened surreptitiously and on purpose.

It apparently occurred in a particular production run, and they were apparently shipped to only one particular location in Fla. The error is obvious, dramatic and visible to the naked eye. There is the question of how quality control at the Mint failed on this one. And there are the open questions of how many in the final analysis are out there, and whether the error was/will be unique to this particular production run.

'tis wise to be wary. But honestly, folks, the cynicism here about such things surprises me. If coin collectors can't think such phenomena are exciting and neat, then who can? >>



Good analysis.

My wife just called me, I am away on a biz trip. I had asked her to go to the bank and get some rolls, we live in Daytona Beach and I think we should have the no letter coins in our supply of dollars. She told me she got a box (40 rolls) and the bank will have another box for her tomorrow. Evil grin. BTW our local dealers are selling bank rolls from the area for between $40 and $50 and this weekend, they had buyers lined up. Saw it with my own eyes. Loose dollars are $2 each.

Coxe

I (and I am sure many others) predicted this would happen. Typical gubbermint workers. Some very small number happening, even with anticipation of the possibility and production protocols in place to prevent it, would be marginally acceptable. That it is commonplace is pathetic.

LALASD4

Supply seem to be high but so are demand, so we'll see.

notwilight

<< <i>In this picture, why is the edge a different color than the two with letters? It looks weird. It looks like the edge was groud down and hit a different layer of metal. Picture taken from This ebay auction. -Paul >>



Many of the edge lettered coins show some copper (yes, this is a clad coin) but the edge lettering seems to move metal around. I don't like the rounded edges that this coin has. Compare it to the nice rim on the sacagawea.

notwilight

<< <i> 'tis wise to be wary. But honestly, folks, the cynicism here about such things surprises me. If coin collectors can't think such phenomena are exciting and neat, then who can? >>



Well said.

LALASD4

This looks funny to me too, I looked at hundred and have not seen one like that.

blueifalcon

I purchased two Philly roles from my bank. Thirteen of twenty-five dollars from the role I opened had the upside down lettering. I just have a hard time believing that this type error will be rare. I decided not to open the other role and just put it away. However, I would like to find a naked edged dollar some day, just for the fun of it.

EagleEye

The upside-down lettered edge is a scam! There is a 50/50 chance of it going one way or the other in the edging mill.

However, if the plain edge pieces are plentiful enough, they may break into being a collectable part of the set alongside the P and D mint pieces. Heck, the Mint should churn out a bunch of them so when ol' W.H. Harrison comes around and none are found with plain edges, collectors will go crazy buying them all up.

I'm waiting for later in the year when the 2007 Sac's get made. I want an edge lettred Sac! That would be cool.

BigMoneyLewis

It would seem to me that since only a small percentage of these coins have been released/searched so far,
and well over 1,000 non-lettered edge coins have been discovered , that it will turn out to be
a pretty common error. Time will tell , I guess, but personally, If someone offered one to me,
I don't think I would pay more than $ 10 max.

Lewis

Coxe

<< <i>The upside-down lettered edge is a scam! There is a 50/50 chance of it going one way or the other in the edging mill. >>



Maybe, or maybe not. Most likely, it will shake out with such a statistic but it will be an interesting experiment to find out. Certainly though, people claiming that one is decidedly rare or less common than the other really have no real basis. We don't have numbers, just hipshot observations on limited samples. One would expect a 50/50 breakdown after the unlettered ones are discarded.

larrynj

i'm wondering where the plain edges are being found. the first guy was from chicago, then there's jacksonville and tallahasse. has anyone heard of any other towns these are being found? in a few weeks, an e-bay search should provide a good source of quantities found and where. i've been getting a kick out of all this. it's like a mad rush to dump them at the highest price possible before the price drops like the dow jones i.a.

ChicagoRon

I've been watching the posts about the error since I found the first one. I have talked to a few people that know a lot more about coins than I do and their line of thought is that this error will be compaired to the 55 ddo it terms of rarity. Obviously this is only speculation but one of them is compiling a list of error types and number of examples and has a very good start as she has talked to many of the finders herself.
I have my examples listed on E-bay at bin 249.00 and 299.00. If this turnes out to be like the 55 ddo they could be worth between 500.00 and 1,000.00 for high end slabbed examples.
As I am not in need of a quick 1 or 2 thousand dollar profit I am choosing to gamble on the more rare sceniro.
Let the E-bay craze continue until they sell the over abundance of initial P mint marks found in florida. There have only been about 20 Denver mint examples.
I did send in 4 examples to pcgs on the 16th for grading.
My 2 cents.

Chicago Ron

pf70collector

I was going to buy one for $80.00 BIN but gone now. Snooze you loose I guess. If supply is there to meet the demand I guess it could become like the Wisconsin. The question is will the Mint stop this from happening for future issues, do they have the ablility to stop it, or will it be common.

pf70collector

The bids are starting to increase now on ebay on the remaining auctions that end tonight. You won't see $80.00 BINS anymore.

clackamas

I bet there are 100,000 of these things.

percyb

<< <i>These might offer better odds than Vegas if you've got wads of cash to gamble, but odds are they turn out to be worth face value in 3 weeks. >>





<< <i>I bet there are 100,000 of these things. >>



Probably more if 300 million were printed. 1% would total 3 million. Let's say .5%. That'd equal 1.5 million


Can you sell these things short?