2007-W P$100 - Newly-Discovered American Platinum Proof Eagle Variety - "Frosted Freedom"
Goldbully
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NGC Certifies Newly-Discovered American Platinum Eagle Variety
by NGC on January 13, 2011
Numismatic Guaranty Corporation (NGC) has announced that they have certified a newly-discovered platinum eagle variety.
This newly-discovered 2007-W American Platinum Eagle $100 variety was certified by NGC as PF-70 Ultra Cameo.
The latest oddity to surface in the U. S. Mint’s American Eagle Bullion Coin series is a 2007-W platinum $100 piece in proof with an obvious die-polishing error.
This popular coin type, which features a facing eagle with wings outstretched, also includes a shield on the eagle’s breast. Draped over this shield is a banner inscribed with the W mintmark at left and the word FREEDOM at right.
On dies having a normal polishing pattern, this incuse word displays the same brilliant finish as the coin’s fields, thus standing out within the frosted banner. The newly-discovered variety has the word frosted so that it blends in with the rest of the design. Presently unique, this curious coin has been certified by NGC as PF-70 Ultra Cameo, and it’s also identified on the label as FROSTED FREEDOM and DISCOVERY SPECIMEN.
The 2011 edition of R. S. Yeoman’s A Guide Book of United States Coins illustrates this coin type with a U. S. Mint-generated rendering that indeed shows the word FREEDOM frosted, as on this error coin, but that illustration is believed to be a conceptual drawing that predated actual production.
With evermore of the Mint’s die preparation becoming automated, it’s likely that this die simply missed the step which normally would have polished the incuse lettering to a mirror finish. Though the present coin is the first example found with a uniformly frosted finish to the banner, it’s likely that others must have been struck, and collectors are urged to examine their 2007-W proof platinum $100 coins for additional specimens.
Linker
by NGC on January 13, 2011
Numismatic Guaranty Corporation (NGC) has announced that they have certified a newly-discovered platinum eagle variety.
This newly-discovered 2007-W American Platinum Eagle $100 variety was certified by NGC as PF-70 Ultra Cameo.
The latest oddity to surface in the U. S. Mint’s American Eagle Bullion Coin series is a 2007-W platinum $100 piece in proof with an obvious die-polishing error.
This popular coin type, which features a facing eagle with wings outstretched, also includes a shield on the eagle’s breast. Draped over this shield is a banner inscribed with the W mintmark at left and the word FREEDOM at right.
On dies having a normal polishing pattern, this incuse word displays the same brilliant finish as the coin’s fields, thus standing out within the frosted banner. The newly-discovered variety has the word frosted so that it blends in with the rest of the design. Presently unique, this curious coin has been certified by NGC as PF-70 Ultra Cameo, and it’s also identified on the label as FROSTED FREEDOM and DISCOVERY SPECIMEN.
The 2011 edition of R. S. Yeoman’s A Guide Book of United States Coins illustrates this coin type with a U. S. Mint-generated rendering that indeed shows the word FREEDOM frosted, as on this error coin, but that illustration is believed to be a conceptual drawing that predated actual production.
With evermore of the Mint’s die preparation becoming automated, it’s likely that this die simply missed the step which normally would have polished the incuse lettering to a mirror finish. Though the present coin is the first example found with a uniformly frosted finish to the banner, it’s likely that others must have been struck, and collectors are urged to examine their 2007-W proof platinum $100 coins for additional specimens.
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Comments
<< <i>Dang! Goldbully... I was hoping you had made the discovery. >>
Ah yes, to dream!!!!
You are one sweet lady!!!!
My Adolph A. Weinman signature
I can't afford one even if I found one.
Remember in the movie Mad Mad Mad Mad World where the people say they aren't going to look for the "Big W"... LOL
Good luck:
search 2007 W plats on the bay
Maybe a few folks will take a closer look at this fascinating series after reading this press release.
Wondercoin
I bet those 2007-Ws are well dispersed by now.
Not like you can go to most B&Ms or typical show and find any to cherry pick.
I knew it would happen.
me at the FUN show last week - very obvious
if you're looking on the reverse - which I suspect
many buyers/collectors/investors haven't done yet.
<< <i>Interesting find.
Maybe a few folks will take a closer look at this fascinating series after reading this press release.
Wondercoin >>
Let us hope!!
<< <i>HOW COOL!! Can't wait to check mine when I get home... >>
Same here...I'm trying to remember how many I have in stock.--Jerry
<< <i>The collector who discovered it showed it to
me at the FUN show last week - very obvious
if you're looking on the reverse - which I suspect
many buyers/collectors/investors haven't done yet. >>
Of course, on Ebay there are not pics of the reverses...
Image of the coin without the error........BIG difference!!!!
<< <i>Anyone else go on ebay trying to cherrypick this?
It's likely that the person who discovered this, and everyone he told, and the friends of everyone he told, plus all of his own friends, and all the friends of his friends have been scouring ebay for other examples over the last week, so you were probably among the last to look.
I still need to get over to the bank SDB and check my two copies. Mintage was 8363, but some must have been sent to the melting pot, since when sales began on 17 July 2007 the mint was selling them for $1599.95 while the spot price of platinum was fluctuating around $1300., but then soon afterwards, from February to July 2008 platinum was above or near $2000. How many were melted? It's impossible for me to guess and I've asked numerous persons who were involved but without getting anything approaching an answer. NGC has slabbed about 1300 of these, and PCGS about 500, and at least those 1800 were probably mostly spared. But of the other 7000 raw coins there must have been some substantial attrition.
Is there any word of more than one found so far? --Jerry
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>Now we all need to go and see if there are any similar instances in other years or demoninations. >>
it was a 1 year type coin, there are no others...
<< <i>The discoverer has now been identified: coin dealer Jason Fishman who sells on ebay as jasonfishmancoin. He now has a half-ounce proof platinum 2007 for sale on ebay with his contact information. >>
***I'M AN NGC DEALER #2583, AND I JUST DISCOVERED THE 2007 W $100 - 1 OUNCE NGC PF70 PLATINUM EAGLE "FROSTED FREEDOM" DISCOVERY SPECIMEN" 3265741-001***
eBay Link
Incidentally, if someone were to obtain one of each and every APE, all 111 of them (not counting the 2007 error), they'd have a total of 52.45 troy ounces of 99.95% pure platinum, according to my arithmetic. The melt value of that much platinum right now at about 8 PM PST Jan. 16th, 2011, with Kitco showing the median between bid and ask at $1819 per ounce, is $95,406.55.
<< <i>Agreed. I'm not aware of another significant error in this series. And the minor errors you discuss, like strikethrus, sell at a small discount rather than a small premium. --Jerry >>
At least one 1/10 oz Platinum Eagle (1998 I think) has been certified by PCGS as a rotated die error.
The rotation is about 15 or 20 degrees.
I knew it would happen.
<< <i>
<< <i>Now we all need to go and see if there are any similar instances in other years or demoninations. >>
it was a 1 year type coin, there are no others... >>
..........................................................................................................................................
None that have been found.............yet.
It took 3 years to find this one.
There may be other errors yet to be reported.
That's one major reason why the 1/10 ounce is likely to be the most popular size for collectors in the long run. Best combination of affordability, variety and scarcity.
12 bullion coins (1997-2008), 12 proofs (1997-2008), and 3 burnished (2006-2008) = 27 coins, or 2.7 ounces.
At $1819 per ounce, melt value is $4.911.30.
Maximum possible number of sets = 3,555.
None of the keys are prohibitively expensive (yet).
My Adolph A. Weinman signature
<< <i>
That's one major reason why the 1/10 ounce is likely to be the most popular size for collectors in the long run. Best combination of affordability, variety and scarcity.
>>
yes while it is the most affordable option, the biggest drawback is the small size....the 1/2 oz ($50) option offers a nice balance and the added bonus of the 07 Reverse Proof...
personally my favorite has been the 1 oz ($100)....best way to view all the great details between the mirrored and frosted finishes...
cool find BTW....
<< <i>One would think that there must be more of these errors floating around. What is the life of a proof plat die? Pretty short I'd think, but I doubt that The Mint caught this. I will be fun to follow this. It will be a lot more fun to find one. >>
Good points, Raufus!!!
<< <i><< Incidentally, if someone were to obtain one of each and every APE, all 111 of them (not counting the 2007 error), they'd have a total of 52.45 troy ounces of 99.95% pure platinum, according to my arithmetic. The melt value of that much platinum right now at about 8 PM PST Jan. 16th, 2011, with Kitco showing the median between bid and ask at $1819 per ounce, is $95,406.55. >> That's one major reason why the 1/10 ounce is likely to be the most popular size for collectors in the long run. Best combination of affordability, variety and scarcity. 12 bullion coins (1997-2008), 12 proofs (1997-2008), and 3 burnished (2006-2008) = 27 coins, or 2.7 ounces.
At $1819 per ounce, melt value is $4.911.30. Maximum possible number of sets = 3,555. None of the keys are prohibitively expensive (yet). >>
That's a good explanation for popularity of the 1/10th ounce size APEs, thanks. Among the arguments against them is that the pro-rated premium over melt is often higher when they are purchased, partly reflecting a higher cost of fabrication, and the value of the coin is relatively lower per cost of slab if they are sent in for grading, in other words one is obliged to spend more for grading per amount of platinum metal. The coins are dwarfed by standard-sized slabs or by OGP single boxes. Just their relatively small size lessens their visual impact if one finds pleasure in the beauty of the designs. Other factors are also involved, and I'm not trying to tell anyone what to collect. I also like the tenths, and am missing only one, a fairly easy one to find, the 2008 ordinary bullion.
<< <i>
<< <i>One would think that there must be more of these errors floating around. What is the life of a proof plat die? Pretty short I'd think, but I doubt that The Mint caught this. I will be fun to follow this. It will be a lot more fun to find one. >>
Good points, Raufus!!! >>
Thanks :-)
<< <i>On a side note, how many coins have the legend "The United States of America"? >>
Credit goes to board member "kranky" for picking up on the The.
2007 proof/burnished platinums were certainly the only APEs with that full inscription.
<< <i>Just wanted to thank Mike (botanist) for an excellent conversation a few days ago. I have some thoughts on the frosted freedom coin. First, here's a quote from the NGC press release from 1/14. "The 2011 edition of R. S. Yeoman’s A Guide Book of United States Coins illustrates this coin type with a US Mint-generated rendering that indeed shows the word FREEDOM frosted, as on this error coin, but that illustration is believed to be a conceptual drawing that predated actual production." Having compared the frosted freedom to the picture in the book, also having tons of experience sending in 2007 Burnished and Proof Platinum Eagles, I believe this coin very well could be an artists rendition or concept coin. I would not hold my breath believing there is another out there. I could also be dead wrong and there could also be others. There also exists the possibility that there could be one frosted freedom for each denomination. Time will tell and the more time passes, the less chance anyone will find another. Realistically, it is way too premature to make any guarantees of anything. Also, according to NGC, "Presently unique, this curious coin..." If I think I know something, someone else knows something that I don't know. There is also much more to the story that most don't know about..... >>
Welcome to the PCGS forums! And Happy Birthday, for the few minutes remaining of your big day!
<< <i>Just wanted to thank Mike (botanist) for an excellent conversation a few days ago. I have some thoughts on the frosted freedom coin. First, here's a quote from the NGC press release from 1/14. "The 2011 edition of R. S. Yeoman’s A Guide Book of United States Coins illustrates this coin type with a US Mint-generated rendering that indeed shows the word FREEDOM frosted, as on this error coin, but that illustration is believed to be a conceptual drawing that predated actual production." Having compared the frosted freedom to the picture in the book, also having tons of experience sending in 2007 Burnished and Proof Platinum Eagles, I believe this coin very well could be an artists rendition or concept coin. I would not hold my breath believing there is another out there. I could also be dead wrong and there could also be others. There also exists the possibility that there could be one frosted freedom for each denomination. Time will tell and the more time passes, the less chance anyone will find another. Realistically, it is way too premature to make any guarantees of anything. Also, according to NGC, "Presently unique, this curious coin..." If I think I know something, someone else knows something that I don't know. There is also much more to the story that most don't know about..... >>
Jason, welcome to the coin forum....and most of all, congrats on your major error find!!!!!
Jon
<< <i>If you look in Eric Jordans bookModern Commemorative Coins you will find several pictures of this variety. it has been hiding in plain sight all along. See page 74 (I think, I dont have it in front of me) for an example. The $50 coins of the same design are showm with a mirrored "Freedom", at least the examples I found. >>
Yes, it seems to show the error. However, as mentioned above by Jason, the illustration used in Eric Jordan's fine book Modern Commemorative Coins was also taken from the mint-generated artist's rendition, and does not depict the actual final coin in which every example so far, except the one newly discovered, has the letters of the word FREEDOM in dark just as are the proof fields.
Wondercoin