Question:Pricing of errors on KEY coins.

BLUEJAYWAY

Is it customary to add the error value to a KEY coin or should the error detract from the KEY coins value as technically it is a defect. I would assume it would detract value in the case of a KEY coin,i.e 1909-S VDB,1916-D dime, etc. In other words if a dealer has such a defective KEY coin should I pay more or less for the "defective" coin, buy as a defective coin or buy as an error. This point of view would not apply to common dates as the error supersedes the value of a common coin. For the dealers here: How do you dealers here price a KEY date with an error? For more or less than the non-error version. Also if you have a KEY coin, say an off-centered example, how would you add an error value to it? Would you base the error value for a common o/c,say a 30% o/c, and tack it on to the KEY coin value. Are o/c coins from the 40's more rare then say 70's-90's coinage. Thanks in advance for any of your input.

ricko

I do not collect error coins - although I will retain any I find.......That being said, IMO, an error on a key coin would make me pass... However, an error collector would likely pay a premium. Cheers, RickO

BryceM

I'm no error specialist, but I'd think most collectors would rather have one or the other. It's hard to ask someone to pay two premiums for a single coin.

ctf_error_coins

A small error on a key coin is a white elephant, meaning no added value or perhaps less.

A big error on a key coin is worth big bucks.

seanq

If you do a Forum search on the term "white elephant", you will find a couple of other threads where this question has been addressed. Basically you cannot expect much if any premium for a key date with an error, in fact many such coins sell at a small discount versus a problem free example.

The issue is that traditional collectors would prefer problem free examples for date or type sets, while error collectors are by and large willing to make due with a common date versus paying a premium for a scarce one. If you drew a Venn diagram of error and set enthusiasts, there is only a small sliver where they overlap, people building sets of error coins.

As a long-time habitant of that sliver, my experience is that in general I have not paid a premium for any of the traditional key dates in my set, and a couple were purchased for as much as 25% discount. The handful times I have paid up have been what I consider the cost of the opportunity to buy, not necessarily the value of the coin itself.

Sean Reynolds