Mint Error coins why isn't there a high value for the limited number.

YaHa

Ok some of you will say not too many people like em. Some will say you can't make a complete set out of them. And some say the error coins are shills they were not suppose to get out but a few made it and won't pay the premium for the scarce ones.

I say this we all know that each year Millions are made of each/dom. So why aren't the value of a nice 40% offstruck lincoln cent in the year 1959 worth $500 in ms 64? Or so on. Spain your opinions.

LickThoseStamps

<< <i>Ok some of you will say not too many people like em. Some will say you can't make a complete set out of them. And some say the error coins are shills they were not suppose to get out but a few made it and won't pay the premium for the scarce ones.

I say this we all know that each year Millions are made of each/dom. So why aren't the value of a nice 40% offstruck lincoln cent in the year 1959 worth $500 in ms 64? Or so on. Spain your opinions. >>



Demand.

Broadstruck

YaHa, this will be a good popcorn thread!

tjkillian

Not a lot of folks are interested in errors. Some 19th/18th century errors are cool and valuable, but 20th century common coins are just not interesting enough by the majority of the collectors.

JrGMan2004

<< <i>Not a lot of folks are interested in errors. Some 19th/18th century errors are cool and valuable, but 20th century common coins are just not interesting enough by the majority of the collectors. >>



I think this here is the answer... but many of the scarce errors command huge prices, while very common ones (late date OC Lincolns for example) are worth a buck or two a piece... there are some very neat errors, like I've seen a Dime struck on a struck foreign coin. That was really neat since you could see the complete outline of the previous design.

But I guess part of it too, is the randomosity of such a collection. You could probably do some kind of type set... but there's no way to set down a "set" of coins to complete. So it's better for the kind of collector that is an accumulator, never happy with how much they've gotten and always wanting more and different stuff... that's one of the great things, there's an enormous number of coins available that fall into the realm for an error collector, unless you limit yourself.

packers88

I think errors need to be seperated into 2 seperate categories, famous errors and infamous errors. Famous errors are like the 55 double die, the 37 legged buffalo, the wisconsin leaf, the Washington smooth edges, and the Adams double lettering. Infamous errors are like a clipped planchet, a cud error, off center strike, etc... Famous errors have exploded in value and all you have to do is see what certified examples of the 55 double die sell for or the 37 legged. Even with the modern errors, just look at a Wisconsin leaf 65 going for $175, a washington smoothie 65 going for $90 even with an estimated mintage of 150,000, an adams smoothie 65 going for $500, or an adams double lettering 65 going for $100. Even with large mintages prices are still strong on a relative basis. You can't expect a modern error like a washington smoothie to be going for $1000 like the 55 double die becaause it took 53 years for a 55 double die to get to where it is today. What would be the net present value of a 55 double die that goes for $1500 or $2000 today back in 57 which would be 2 years after it came out just like the presidential errors? I bet it would be inline with the modern errors today which would be around $100.

GrumpyEd

<< <i>But I guess part of it too, is the randomosity of such a collection. You could probably do some kind of type set... but there's no way to set down a "set" of coins to complete. >>





: )

GrumpyEd

Die varieties (DDOs, RPMs etc...)
Mint errors (off centers, clips etc)

19Lyds

Personally, I think that error collecting such as clips, OC, and Broadstrikes are for either the specialized collector or the more advanced collector.

As a result, the folks that collect these know how difficult or common that a lot of these coins are. For example, 1983 Washington's that are struck off center are fairly common across all grades but pre1964 Washington clips are not.

2% clipped IKEs are fairly common considering their relative availability and do garner some good bidding action but IKE clips of greater than 5% get serious bids as they simply are not that readily available.

Value is directly related to whether or not the error is considered "common" amongst the error collector's.