<< <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. >>
I spoke to another ebay seller tonight who contacted me wanting to buy some coins wholesale and he was convinced that the TPGs were going to call it "Type 1" and "Type 2" lettering and that was holding up PCGS slabbing. I asked him where he heard that and he finally admitted he read it in an ebay auction...
<< <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? >>
I know of thousands of coins that have been searched without finding a single one. 1% or even .5% seems rediculously high. But if talk like this can drive the prices back down to $50 I'll pick up a few.
Wow, just took a quick look at e-bay and noticed at least 3 hundred of the missing letter error dollars. Most all coming from Jacksonville FL area, one seller even had 100 listed in one auction. Numerous others had dozens of seperate auctions going. We're talking stricly missing letter errors. Not to mention the extra letters, dropped letters, and upsidedown lettering (which is neither rare nor an error) And just think, most of the rolls have yet to be cracked open . Once word of mouth spreads (you have to keep in mind, alot of people have not ever even heard of the George washington dollar, let alone, take the time to inspect the edge , or even know that there is supposed to be lettering there to begin with) This coin has been out less than 2 weeks, a small percentage of the rolls have been opened, thousands have already been found. Waaaay too early to call this a major rarity. People should sit back and wait a few weeks and see what's going on, but then again, too many people are eager to cash in on this deal, and others are mislead into thinking if they don't buy now, they won't be able to afford one ever. Personally , I still would not pay more than $ 10 for one.
Since the Denver mints seem to be rarer, I think I'll buy one of those ... I think ...
Refs: MCM,Fivecents,Julio,Robman,Endzone,Coiny,Agentjim007,Musky1011,holeinone1972,Tdec1000,Type2,bumanchu, Metalsman,Wondercoin,Pitboss,Tomohawk,carew4me,segoja,thebigeng,jlc_coin,mbogoman,sportsmod,dragon,tychojoe,Schmitz7,claychaser, Bullsitter, robeck, Nickpatton, jwitten, and many OTHERS
Lewis, you're right on. WAAYYYYYYY too early. I'm predicting $10-15 each in the next few weeks once this hits the press. I'm waiting, but DO want one...
Refs: MCM,Fivecents,Julio,Robman,Endzone,Coiny,Agentjim007,Musky1011,holeinone1972,Tdec1000,Type2,bumanchu, Metalsman,Wondercoin,Pitboss,Tomohawk,carew4me,segoja,thebigeng,jlc_coin,mbogoman,sportsmod,dragon,tychojoe,Schmitz7,claychaser, Bullsitter, robeck, Nickpatton, jwitten, and many OTHERS
I have not seen any yet, but I know someone from SC that asked for them at a local bank. They only had 4 of them. 1 out of the 4 had no edge lettering. Extremely lucky -- or very common? I think the latter is true. Still -- A US coin issued without a date and motto (not counting clips and off-center strikes) -- is bound to be pretty popular. So even if they exist by the tens of thousands, it is bound to retain some sort of premium.
My origional 4 rolls had 2 examples. I went to several other banks bought and searched 1500 coins and found none. Went back to the original bank and bought the rest of the box. out of the 850 coins left in the box I found another 10. I have searched 8,000 since and have not found one. The Denver mint did a much better job of quality control.
Out of the 9,000 coins I have liiked at there have been about 6 drop letters, 1 with a grease spot pressed into the obv, 1 die gouge.
Feel free to call me a dummy, but I just bought one for $90. It's a risk, but who cares? I think it's a cool, prominent error and it's not all that expensive.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
Comments
<< <i>
<< <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. >>
I spoke to another ebay seller tonight who contacted me wanting to buy some coins wholesale and he was convinced that the TPGs were going to call it "Type 1" and "Type 2" lettering and that was holding up PCGS slabbing. I asked him where he heard that and he finally admitted he read it in an ebay auction...
<< <i>
<< <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? >>
I know of thousands of coins that have been searched without finding a single one. 1% or even .5% seems rediculously high. But if talk like this can drive the prices back down to $50 I'll pick up a few.
--Jerry
Chicago Ron
Most all coming from Jacksonville FL area, one seller even had 100 listed in one auction. Numerous others had dozens of seperate auctions
going. We're talking stricly missing letter errors. Not to mention the extra letters, dropped letters, and upsidedown lettering
(which is neither rare nor an error) And just think, most of the rolls have yet to be cracked open . Once word of mouth spreads
(you have to keep in mind, alot of people have not ever even heard of the George washington dollar, let alone, take the time to
inspect the edge , or even know that there is supposed to be lettering there to begin with)
This coin has been out less than 2 weeks, a small percentage of the rolls have been opened, thousands have already
been found. Waaaay too early to call this a major rarity. People should sit back and wait a few weeks and see
what's going on, but then again, too many people are eager to cash in on this deal, and others are mislead into thinking
if they don't buy now, they won't be able to afford one ever. Personally , I still would not pay more than $ 10 for one.
Lewis
KR
Out of the 9,000 coins I have liiked at there have been about 6 drop letters, 1 with a grease spot pressed into the obv, 1 die gouge.
Chicago Ron
San Diego, CA
<< <i>it looks like the d-mint ones will be much rarer. >>
-Paul
Looks like the naysayers were right on!
The name is LEE!