Missing edge lettering on presidentitial coins
Coin_nut1977
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Is this considered an error?
0
Coin_nut1977
Posts: 1,517 ✭✭✭✭✭
Comments
Looks normal to me. If you had edge lettering, you would have a rarity.
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Sorry didnt do all my homework. they are on the coin obverse and reverse for a 2000
?
missing edge lettering on presidential dollars is considered a mint error. They failed to strike the edge. PCGS labels for 2007 coins refer to it as "mint error" and after 2007 as "edge error."
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They changed up the lettering after 2007 but without picking one up, I'm thinking that the date, mm, and e pluribus unum are still on the edge.
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It seems there are a multitude of them and people pay good money for them.....50-60$ range slabbed I believe. There is a respected error coin dealer that usually has them for sale.
It would be nice to know an estimated number of the errors. With billions sitting in Federal Reserve Vaults their could be a huge number of missing edge letter errors.
I would think it would be an error.
I believe that when the first missing edge lettering coins turned up (Washington) they sold for between $100 and $200 or more.
In any case, I recall that most if those coins turned up in Florida. Potential boxes of coins were heavily searched at that time.
The issue then was that a huge group of coins missed the process, but if course the random error can also occur, so there are undoubtedly errors of various kinds hidden away in those unsearched stockpiles.
That was typical. I sold a couple Washington MELs for about $600 each in 2007. They were in First Day of Issue holders, and I think one made the cover of Coin World at the time. I think the Washington MELs are now the cheapest, although I don't really follow them.
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I believe many were smuggled out of the mint by an employee, and then sold to a dealer. I've bought many and have since lost value.
I agree on the drop in value. Now is the time to collect them, I guess.
Thanks for passing this along. If and when they release them into the wild it will make for some fun searching.
Just a few months ago I began collecting MEL Presidential and Native American Dollars. In my searching there appears to be 15 that are easily found, i.e. released in sufficient quantities to make them relatively common. I currently have 14 of those. Of those 14 I paid less than $50 for 13 of them. The other one I paid less than $60. The only one I'm missing in the group of 15 is easily found for less than $100.
I have seen a few, very few, others that are not in this group of "Common Fifteen", but they are 100's and even 1,000's of dollars.
I have a couple of the 2010 Satin Finish Native American examples, both certified by PCGS. I found them in the 5 uncirculated sets I received, just after Coin World reported them. PCGS has only certified 4, NGC only a couple, I believe.
I could account for maybe 20 of them ever being reported and haven't seen any of them ever resurface for sale, other than the one sold by another forum member early on.
I knew it would happen.