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State quarter's extra leaf grew out of lunch break
Michigan
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WASHINGTON — The release of thousands of flawed Wisconsin state quarters that set off a buying frenzy, and speculations of foul play, was a mistake stemming from an ill-timed meal break, a government investigation has found.
The Wisconsin quarter as it was intended to be.
By Ron Medvescek, Arizona Daily Star via AP
As many as 50,000 of the faulty coins, 50 times the amount earlier thought, entered circulation in 2004 after the coins were produced and bagged during an operator's break, according to the Treasury Department's Office of Inspector General. The flawed Wisconsin coins, which have sold for thousands of dollars, appear to have an extra leaf on the left side of an ear of corn.
By Ron Medvescek, Arizona Daily Star via AP
This quarter has a flaw — an apparent extra leaf on the left side of the ear of corn, toward the bottom.
The Wisconsin quarters went into circulation in 2004 as part of the 10-year state quarter program run by the Mint, an agency in the Treasury Department.
The quarters "were most likely produced as a result of machine or product deficiencies, not as a result of an intentional act," according to the report, obtained by USA TODAY through a Freedom of Information Act request.
According to the report:
• A press operator at the Denver Mint working on a Friday night in November 2004 noticed blemishes on coins produced at one of the five presses he was operating.
• The operator stopped the machine and left for a meal break.
• The operator returned to see the machine running and assumed someone else changed the die.
• When conducting regular inspections, the operator realized the die was not changed. The press likely had been operating for 1½ hours, and thousands of coins were "commingled" with unblemished quarters, the report said.
No one was fired as a result of the incident. Mint spokeswoman Becky Bailey says by the time the final error was realized, the quarters were bagged and ready to be shipped. It would have been too costly to separate the blemished quarters from the good quarters by hand or to destroy them, Bailey says.
"Over the years, we have greatly tightened our quality control, and this is a highly unusual occurrence," Bailey says, noting 5 million quarters are produced daily at the Denver Mint.
The flawed quarters have popped up mainly in Tucson and San Antonio. One set of three Wisconsin quarters, two flawed and one in good condition, sold for $2,800 on eBay Tuesday.
Collectors previously estimated that there were approximately 1,000 flawed quarters. But even though the report suggests many more could be out there, their value will likely stay high, predicts Beth Deisher, editor of Coin World and Coin Values magazines.
"Unless there is a hoard out there (that would flood the market), I would be very surprised if it reduces the value very much," she says.
The Wisconsin quarter as it was intended to be.
By Ron Medvescek, Arizona Daily Star via AP
As many as 50,000 of the faulty coins, 50 times the amount earlier thought, entered circulation in 2004 after the coins were produced and bagged during an operator's break, according to the Treasury Department's Office of Inspector General. The flawed Wisconsin coins, which have sold for thousands of dollars, appear to have an extra leaf on the left side of an ear of corn.
By Ron Medvescek, Arizona Daily Star via AP
This quarter has a flaw — an apparent extra leaf on the left side of the ear of corn, toward the bottom.
The Wisconsin quarters went into circulation in 2004 as part of the 10-year state quarter program run by the Mint, an agency in the Treasury Department.
The quarters "were most likely produced as a result of machine or product deficiencies, not as a result of an intentional act," according to the report, obtained by USA TODAY through a Freedom of Information Act request.
According to the report:
• A press operator at the Denver Mint working on a Friday night in November 2004 noticed blemishes on coins produced at one of the five presses he was operating.
• The operator stopped the machine and left for a meal break.
• The operator returned to see the machine running and assumed someone else changed the die.
• When conducting regular inspections, the operator realized the die was not changed. The press likely had been operating for 1½ hours, and thousands of coins were "commingled" with unblemished quarters, the report said.
No one was fired as a result of the incident. Mint spokeswoman Becky Bailey says by the time the final error was realized, the quarters were bagged and ready to be shipped. It would have been too costly to separate the blemished quarters from the good quarters by hand or to destroy them, Bailey says.
"Over the years, we have greatly tightened our quality control, and this is a highly unusual occurrence," Bailey says, noting 5 million quarters are produced daily at the Denver Mint.
The flawed quarters have popped up mainly in Tucson and San Antonio. One set of three Wisconsin quarters, two flawed and one in good condition, sold for $2,800 on eBay Tuesday.
Collectors previously estimated that there were approximately 1,000 flawed quarters. But even though the report suggests many more could be out there, their value will likely stay high, predicts Beth Deisher, editor of Coin World and Coin Values magazines.
"Unless there is a hoard out there (that would flood the market), I would be very surprised if it reduces the value very much," she says.
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~g
I'd give you the world, just because...
Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.
While it may be true the guy didn't change out the die, it still doesn't explain 1) how the "leaves" got on the die in the first place, 2) why there are two, and not one, forms of the "leaves," and 3) why both versions look so much like leaves in configuration and position.
This may well be correct about the numbers, but the searching frenzy yielded far fewer. Either thousands are sitting in undistrbuted rolls somewhere, or most have passed into circulation unnoticed.
Here's a warning parable for coin collectors...
<< <i>I guess I might be a bit naive, but I didn't realize the government would care to launch such an investigation into mint errors. >>
The frenzy over the coins was subsiding. It was time to fire it back up with a bogus investigation that would generate additional press.
Russ, NCNE
I didn't realize the government would care to launch such an investigation into mint errors.
More coins saved by more people = more interest free loans to the government.
<< <i>While it may be true the guy didn't change out the die, it still doesn't explain 1) how the "leaves" got on the die in the first place, 2) why there are two, and not one, forms of the "leaves," and 3) why both versions look so much like leaves in configuration and position. >>
I agree. There are way too many coincidences for it to be anything other than intentional. Probably a prank on the part of a bored mint employee. He may even be a coin collector trying to create a rare variety for posterity. Unless he comes foreward and explains why he did it (highly unlikely), we'll never know.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Mintage of 50,000 doesn't mean 50,000 were RELEASED. >>
From the above article:
As many as 50,000 of the faulty coins, 50 times the amount earlier thought, entered circulation in 2004
In the investigation report it says that on a Friday night shift in November 2004 the error dies were found in the press. The pressman discovered the errors and shut off the press, then went to lunch. When he came back the press was running again. He shut it off again and then told a supervisor. The estimate of 50,000 coins comes from the 1 hour and 30 minutes he spent at lunch. In the report it says the pressman estimates 35,000 to 50,000 were struck while he was at lunch. The report says that these ended up commingled with "good" coins and shipped out. However it also says that after the second discovery (after lunch) the press was shut down and all coins were sent to the condemn tank to be made into waffles.
That interview was done June 21, 2005.
The first investigation was done on February 22 and 24, 2005. (About 2 weeks after the story broke on the AP wire, 2 months after the December 11, 2004 discovery - soon after which the varieties were made known to someone at the Mint) At that time the Die Shop Chief; Quality Assurance Chief, Quality Assurance Supervisor, Die Setter and Shift Coordinator agreed that the error was NOT the cause of a "Come Together" or die clash. However someone who is blanked out on the report says that he was told by the die setter that these were caused by a "Come Together", but also said that he had not personally examined the dies.
Seems they need a numismatist on their staff to tell them what they have. They sure don't know. They only reported on the High Leaf variety. I assume the High Leaf and Low leafs were struck at the same time, in the same quantities.
Now at least we have a solid estimate as to how many were made, I don't know if it says how many escaped. They don't really say. I still estimate 5,000 of each were found and exist today in Mint State condition.
Some interesting things are in the report:
The Mint puts aside first strike coins of every die. They destroy them after a few weeks. Now, after this fiasco, they are holding them for a full year. (I'd like to get my hands on those!) Also they are saving last strikes.
Well, people are likely to take statements like this literaly to the bank. I know in my industry, estimates are always taken as fact because they are easy to remember and to communicate, and people want to beleive it. It is human nature.
Tbig
The people who want to believe they are common: "Oh it's 50,000 released, they must be that many out there"
The people who believe they are scarce" 35,000 - 50,000 estimated struck, some (most) put into the condemn tank".
Even with the "facts" in the report, there is so much hearsay and guesswork, that nothing should be taken as hard FACT, except PCGS and NGC population numbers.
Either they are trying to cover it up, or are too lazy to get to the bottom of this.