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Missing Edge Lettering Presidential Dollars
FredWeinberg
Posts: 5,726 ✭✭✭✭✭
Just for information, there are well over
5,000++ pieces of the Plain Edge Presidential
Dollars found so far.
That's enough quantity for the TV shows and
mass-marketers to play with.
What will be interesting will be how many more
are found in the next 30 days or so......
I have no idea if they'll be worth $50 or $100
in that time frame - just thought I would share
the info that I know of myself with the group.
5,000++ pieces of the Plain Edge Presidential
Dollars found so far.
That's enough quantity for the TV shows and
mass-marketers to play with.
What will be interesting will be how many more
are found in the next 30 days or so......
I have no idea if they'll be worth $50 or $100
in that time frame - just thought I would share
the info that I know of myself with the group.
Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
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San Diego, CA
Do you have any knowledge or experience with how the edge lettering is processed?
The name is LEE!
What I still can't understand is why the crazy people are paying so much for the "upside down" lettering. That's STUPID!
Just buy a roll and there's plenty in there with upside down letters.
Too many positive BST transactions with too many members to list.
The planchets are basically the same. The error is these coins not going through the edge lettering machine, which is done after the strike.
I still wait for the Sac with edge lettering!
I have started looking at my Euro coins (also edge lettered) and have not spotted anything abi-normal.
They are not Sacagawea planchetts. When you look at the edge they look like the plating didn't go all the way around the coin.
Just wondering has anyone sent one in to PCGS yet?
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
TD
San Diego, CA
There are are estimated 40,000 (yes, 40,000) of these
items now reported/discovered.
I have talked to a Florida resident who has
well over 3,500 pieces, and there is a bank
teller in Florida with over 15,000.
I know now of about 20K (the two above
people, plus Ebay coins).
The 40K number comes from Susan Headley of
About Coins, a New York Times website on
hobbies / collectables; her number comes from
the above, plus the many, many hundreds of
reports she's had, and some extrapolation, based
on the number of coins in a Ballistic bag, etc.
I tend to agree with that rough number - whether
it's 30K or 50K eventually, I can state that there
are, in my own knowledge, tens of thousands of them
discovered so far - and probably more to come !!
Fred
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
Sacagawea Dollars.
In the Lettering process, for some reason,
it tends to "hide" the copper core - on some
it's easily visable, on some there's just a
red "tint", and on some it looks like the same
color as the manganese layers.
Because I have not seen the actual machine
or the process, I can't explain why, but in
moving the coins around in the lettering device,
the metal is somehow "moved" "smoothed", or ?
so that the copper core color is not as apparent
as is in the plain edge Sac Dollars.
In fact, if you look at the Ebay listed coins, you will
see that the plain edge pieces show the copper core
much better than the Lettered Edge coins.......
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
That bank teller with 15K coins sure was smart. Hope she makes a fortune. If she gets $25 per coin that means she'll make $24 a coin. That's a profit of $360,000. Not bad for a days work.
San Diego, CA
<< <i>Why would the bank manager let the teller take that much? >>
Yeah...I kind of agree....a little "abuse of position" if she got them from her own bank....
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
seperated before the official
release date of 2/15
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
San Diego, CA
<< <i>Fred thanks for the info. You might have just saved some people a lot of moeny.
That bank teller with 15K coins sure was smart. Hope she makes a fortune. If she gets $25 per coin that means she'll make $24 a coin. That's a profit of $360,000. Not bad for a days work. >>
So I guess insider trading is OK...
San Diego, CA
I like the variety thing...maybe I will go to the bank and spend the others.
Where does a bank teller get OVER $15,000 to spend on coins. Even if Half of every roll was without lettering that would be $30,000 spent.
Not only that, what bank/branch ordered 1200 rolls ???
Sorry, but I'm skeptical.
As for being a collectable. Even at 100,000 coins it will be good. Look at the Silver Anniv. set. 250,000. Look at the MS Silver - 400,000+. Not to mention when we get to the 5th and 10th Prez, people will be looking back for these to fill the hole. Obviously I don't know what they are worth, but I agree that the Mint will correct the problem and this abundant supply be short lived.
<< <i>Where does a bank teller get OVER $15,000 to spend on coins. Even if Half of every roll was without lettering that would be $30,000 spent.
>>
Took out a loan and turned the non errors back into the bank.
That bank teller with 15K coins sure was smart. Hope she makes a fortune. If she gets $25 per coin that means she'll make $24 a coin. That's a profit of $360,000. Not bad for a days work. >>
So I guess insider trading is OK...
And you would not if you had the chance? Doubt it
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
Deliveries to most bank branches would probably not exceed 2-3 boxes per week. A teller would have to call many branches of the same banking institution, arrange to purchase all the coins, without letting anyone else in on it? Come on.
Looks like some people are fishing for cheap error coins.
I have been only able to get 43 and I have been trying since day one.
-Fuzz
I agree. Most banks got 1 box. 1000.00
Steve
My little (yes, only 3 windows) got boxes. I picked up one box on Monday, and more were available.
Steve
edited to add: By Monday? You mean the 26th? by then yes Many banks could have ordered more. But those (around here anyway) that got them for the 15th got 1 box of 1000. Still I doubt that a teller was able to accumalate 15,000 of these things.
Steve
<< <i>My guess is the teller is also a collector. whe he/she found one, he/she ordered more. My bank will custom order for collectors. I have some coming. My guess is the teller ordered a bunch. --Jerry >>
Seems rather unlikely that a second order would deliver more errors to the same bank ... if so they would have been distributed nationally.
Correct me if I'm wrong, but aren't these being found in Florida?
So, just ordering more boxes wouldn't work. Florida isn't getting them from any special place that other states aren't getting them from.
Like the Wisconsin quarter was mostly in Tucson AZ and a few in Texas.
Don't get me wrong, some people are going to make a lot of money, it's just 15,000 for 1 person is hard to believe.
Are there other states finding these?
<< <i>I think it is ridiculous and unfair that a bank teller can acquire $15K in the new dollars, yet a collector/non teller such as myself can't even get one roll from my local bank - and only 1 roll limit at the main bank in main city. Bank hopping, was able to get a couple more - but limiting the general public to one or two rolls while 'insiders' horde them all .... well it just doesn't sound real fair, IMHO. >>
Who are you blaming? Your bank? Banks choose how many coins to order. Some banks "aren't participating". Others are waiting to see what the demand is...they don't make any money on these things.
Another possibility is that the teller was ordering a bunch to submit to NGC and hit the jackpot...
Another possibility is that the "one person, a bank teller, has 15,000" story is new urban legend....
--Jerry
Give Me Liberty or Give Me Debt
<< <i>I think it is ridiculous and unfair that a bank teller can acquire $15K in the new dollars, yet a collector/non teller such as myself can't even get one roll from my local bank - and only 1 roll limit at the main bank in main city. Bank hopping, was able to get a couple more - but limiting the general public to one or two rolls while 'insiders' horde them all .... well it just doesn't sound real fair, IMHO. >>
Okay, to be fair....... if you happen upon some, in all fairness, you should offer some to me at face value, because I am the first to request it from you, and it would only be fair!!
Hoard the keys.
$1,000. They received large quantities
to distribute smaller amounts to their
branches.
I was able to buy $4,000 from my
bank downstairs on the release
date of 2/15, and another $10,000
face on the following Monday, 2/19.
Many banks here in LA didn't want to order,
didn't know about the new coin, or were
simply uninterested.
It is not a stretch to think a regional bank
received many hundreds of thousands of
coins to distribute.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
<< <i>I think it is ridiculous and unfair that a bank teller can acquire $15K in the new dollars, yet a collector/non teller such as myself can't even get one roll from my local bank >>
I think it's funny.
Russ, NCNE
Anyone keep a location tally?
Dont believe it. One guy on here searched a box of a 1000 from that area and found 92 (his words) - lets see, that means one teller needed to open, search and go through 150 boxes - yes $150000 face - to get 15000 error dollars.
I may look young but I wasn't born yesterday.