Are people losing interest in errors?

stevereecy · June 23, 2011 10:57PM

I was going through some old redbook price guides and comparing the cost of mid-grade error coins 10 years ago to what they are today. I then compared the price of key coins 10 years ago to what they are today. I just scanned it, but my conclusion was that the error coins have moved only a fraction of the keys. Now, I know that the keys have moved a lot in the last few years, but I'm wondering whether the error coins are overdue for a move to the upside, or are they something that people are generally losing interest in?

Your thoughts?

PawPaul · June 23, 2011 11:26PM

what interest ?

llafoe · June 23, 2011 11:27PM

I've made many errors in my life...

morgandollar1878 · June 24, 2011 12:34AM

Comparing error coins to key dates are not a good comparison. Key dates are almost always strong sellers. Error coins are more of a specialty item, and not near as many collect them.

PCcoins · June 24, 2011 12:34AM

<< what interest ? >>

+1... I'm looking for perfection!

llafoe · June 24, 2011 12:48AM

<< 

<< what interest ? >>

+1... I'm looking for perfection! >>

Call me!

Dentuck · June 24, 2011 12:56AM

Judging by sales of the book 100 Greatest U.S. Error Coins, I would say interest is high.

Whether that's the interest of active collectors of errors, or the interest of numismatists
with enough intellectual curiosity to want to see some cool photographs, to learn more about
how errors occur, to read their stories, etc., is harder to say. I would imagine it's a combination of both.

Lakesammman · June 24, 2011 1:01AM

There needs to be an error registry set .......

Broadstruck · June 24, 2011 1:02AM

<< 

<< 

<< what interest ? >>

+1... I'm looking for perfection! >>

Call me!

>>

Well I was gonna post here, but now I'm speechless!

FredWeinberg · June 24, 2011 1:14AM

Are you talking about the Die Varieties listed,
or the mechanical errors?

The error market has lost some collectors,
like other segments of the hobby, due to
the recession, home prices, etc. etc.

I can easily attest, however, that good errors,
new deals, new groups, etc. get sold immediately;
just like other types of coins.

The biggest 'problem' in the error segment is the
lack of cool errors in the past few years - they
are few and far between.

I've had collectors ask me if the error hobby will
stagnate due to the lack of errors coming out of
the US Mints in the recent past.....

My answer is simple : Yes, it will stagnate just
like interest dropped to Zero as soon as the
Mint stopped making Half Cents, $20 St. Gaudens,
Buffalo Nickels, etc.....ie; just because a particular
coin type isn't coming out of the Mint any longer,
is absolutely no reason for collector interest to
lag.

There are considerably more mint error coin collectors
active today than there were 10-20-30 years ago;
just like there's more VAM collectors, Indian Cent
Die Variety collectors, and so on -

I wish I had more Double Struck Presidential Dollars,
or more Off Metal errors, more Off Center 2009 Cents,
etc. etc....

The error hobby is healthy - it's the supply of new error
coins that's thinning out.

Just my take.......

stevereecy · June 24, 2011 1:27AM

<< Are you talking about the Die Varieties listed,
or the mechanical errors?

>>

Definitely talking about die varieties...like the 42/41 dime, the '55 cent, etc. I know that one-off errors like clips or delamination are cool, but they suffer from the fact that there is only one...rather than a bunch for collectors to compete over.

Yes...the die variety error coins are expensive...but like I say, in the lower grades, they aren't moving as fast. So if 10 years ago you could have bought 3 key coins or 3 error coins for the same $1,000 bill, you'd have been better off buying the keys.

So you think interest in them is going away?

Oh...and to Lakesam...yes...an error registry would rule! Maybe I should be scooping them up before one of them is created.

Steve

Coins911 · June 24, 2011 1:38AM

Fred you should enable your PM feature.

Broadstruck · June 24, 2011 1:50AM

<< Fred you should enable your PM feature. >>

He'd never get any work done if he did.

Tdec1000 · June 24, 2011 2:09AM

<< I've made many errors in my life...

>>

Insert ex-wife joke here... (.................)

Lakesammman · June 24, 2011 2:45AM

THIS THREAD IS WORTHLESS W/O PICTURES.........

So there.

stevereecy · June 24, 2011 2:55AM

Oh my God...thats one of the coolest coins I've ever seen. Can you give a hint as to how much a coin like that would cost? Looks like a die clash to the 10th power...I guess a nickel got stuck in the reverse die?

ctf_error_coins · June 24, 2011 3:06AM

No one is losing interest in Major mechanical errors. The only thing I can say is that they are in short supply. I believe that very strong hands are holding onto the vast majority of very cool major errors. There aren't as many coming to market and the really nice ones that do get very strong money.

I seem to be buying less and less major errors for my personal collection, not because of a lack in interest, but rather a lack very cool affordable major errors.

Broadstruck · June 24, 2011 3:08AM

<< Oh my God...thats one of the coolest coins I've ever seen. Can you give a hint as to how much a coin like that would cost? Looks like a die clash to the 10th power...I guess a nickel got stuck in the reverse die? >>

It cost a LOT!

It's a full brockage which was struck by a capped die.

A previously struck buff adhered itself to the die and the error below is the result of another planchet that was feed into the collar while the die was capped.

ctf_error_coins · June 24, 2011 3:10AM

<< 

<< Oh my God...thats one of the coolest coins I've ever seen. Can you give a hint as to how much a coin like that would cost? Looks like a die clash to the 10th power...I guess a nickel got stuck in the reverse die? >>

It cost a LOT!

>>

LOL

johnny9434 · June 24, 2011 3:16AM

i always thought they were fun to collect. i just wish that there was more interest in it or stronger.

Broadstruck · June 24, 2011 3:18AM

<< i always thought they were fun to collect. i just wish that there was more interest in it or stronger. >>

Depends on what level your collecting as it seems I'm always getting outbid in the last 2-3 years even with very strong bids placed.

Broadstruck · June 24, 2011 3:26AM

<< It cost a LOT!

>>

LOL >>

It was easier to go that route then to figure out exactly how many VW Kombi's it would take!

Unknown · June 24, 2011 3:27AM

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ctf_error_coins · June 24, 2011 3:33AM

Lakesammman · June 24, 2011 4:13AM

Not sure what it's worth - anyone have the error book handy to look up what they suggest???

Lakesammman · June 24, 2011 4:16AM

How about a Mormon piece struck from misaligned dies?? Can't be too many of those lying around.

Broadstruck · June 24, 2011 4:20AM

<< Not sure what it's worth - anyone have the error book handy to look up what they suggest??? >>

Brockage Prices

These prices aren't gospel as some issues are worth far more and others far less... Yet it's the only online pricing available.

stevereecy · June 24, 2011 4:26AM

Ok...$75 for a full brockage Jefferson Nickel? I want one. Who has one? Where do I get one today?

Thanks,

Steve

Lakesammman · June 24, 2011 4:27AM

If those are wholesale prices, someone made a killing on me.

NotSure · June 24, 2011 4:34AM

<< How about a Mormon piece struck from misaligned dies?? Can't be too many of those lying around.

>>

In a Doily to boot! Shouldn't have posted that one (I love it), as 'The Doily Slut' may be inclined to make you an 'offa youse can't refuse'!!!

I wonder how many errors are in Doilies??? Just one more to assign, huh,, oreville?

ctf_error_coins · June 24, 2011 4:39AM

<< Ok...$75 for a full brockage Jefferson Nickel? I want one. Who has one? Where do I get one today?

Thanks,

Steve >>

I'll take ten

Error price guide are so out of whack. The only way to know the market is to follow the market.

Unknown · June 24, 2011 4:39AM

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Coin Finder · June 24, 2011 4:55AM

The market is what someone is willing to pay. I always start by offing errors to the big dealers first, this gives me a baseline then a retail price follows. If it is a rare dramatic error, the I think auctions are the best venue...

Broadstruck · June 24, 2011 5:06AM

<< If those are wholesale prices, someone made a killing on me.

>>

IMHO your error is worth far more then 6 times the listed price.

TPRC · June 24, 2011 5:24AM

<< THIS THREAD IS WORTHLESS W/O PICTURES.........

So there.

>>

I've totally lost interest in that boring error. NOT!

Broadstruck · June 24, 2011 5:27AM

<< 

<< 

<< Not sure what it's worth - anyone have the error book handy to look up what they suggest??? >>

Brockage Prices

These prices aren't gospel as some issues are worth far more and others far less... Yet it's the only online pricing available. >>

They don't have this one:

but maybe that is because its mate is locked away in a museum and this is th eonly one the public domaine

>>

Most 19TH century errors aren't posted price wise as only a few fruity collectors even bother with collecting such mint damaged junk!

Lakesammman · June 24, 2011 5:37AM

WOW - that brockage broad is REALLY broadstruck!

LALASD4 · June 24, 2011 8:06AM

Are you talking about error coins or errors on other stuff?

LALASD4 · June 24, 2011 8:14AM

This ones are interesting too.

Broadstruck · June 24, 2011 8:14AM

<< Are you talking about error coins or errors on other stuff?

>>

I recall seeing one of these tuning forks at Mr.Eureka's table at a show and had to bite my cheek not to laugh...

As although dated 2000 something he was asked by a show-goer which Dynasty it was from

BillJones · June 24, 2011 8:23AM

I was at my local brick and mortar shop today and the subject of error coins came up in our conversation. He has a nice (but not Mint State) 30% off-center Georgia State Quarter marked $125, and it has not sold. Years ago, when I was a dealer, I’d get certified minor error State Quarters, like a piece struck out of the collar, and get prices not too far in back of that from a guy who was selling them on the Internet. Now my dealer friend has a nice error like this one and can’t sell it.

I think a big part of the problem is that the mint has clamped down on issuing new error coins. The older coins with major errors still have value, but the market seems to be quiet for the newer material.

fivecents · June 24, 2011 8:30AM

Some errors won't even fit in PCGS holders:

LALASD4 · June 24, 2011 8:31AM

I think like everything else in the economy, common items are down in prices but high end materials are higher than ever.

LALASD4 · June 24, 2011 8:34AM

Yes some don't fit, but it is a little damaged.

mrearlygold · June 24, 2011 8:40AM

I've listed a few really interesting errors, for example: 1943-S Walking Liberty Half struck on El Salvador 25 Centavo planchet in MS-63 ( in the archives now ) and they sold within days.

Days. And had multiple calls for some of them.

It's like anything else though, sometimes you'll stock something figuring this one will sell in hours and it winds up being stuck in inventory for a year and others you expect will be around a while and they're gone in days. Go figure

Broadstruck · June 24, 2011 9:12AM

<< I've listed a few really interesting errors, for example: 1943-S Walking Liberty Half struck on El Salvador 25 Centavo planchet in MS-63 ( in the archives now ) and they sold within days.

Days. And had multiple calls for some of them.

It's like anything else though, sometimes you'll stock something figuring this one will sell in hours and it winds up being stuck in inventory for a year and others you expect will be around a while and they're gone in days. Go figure

>>

That was a neat and well known WLH error!

stevereecy · June 24, 2011 11:36AM

<< Some errors won't even fit in PCGS holders:

>>

Thats nice, but its a dang shame that its circulated.

Hey, are ya'll gonna post up the die variety types of errors? I'm now a fan of brockages, but I'd trying to guage crowd response on the variety errors.

Steve

ctf_error_coins · June 24, 2011 12:58PM

"but I'd trying to guage crowd response on the variety errors."

Yawn

Broadstruck · June 24, 2011 1:17PM

<< "but I'd trying to guage crowd response on the variety errors."

Yawn >>

Those are things non mint error dealers sell, as it's a major rarity to find a variety in a mint error dealers inventory.

Just as an example...

On the Merc's Dean Howe estimated there are 112,000 1942/1-D's and 95,000 1942/1-P overdate varieties.

Now see how many 1942-D off center Merc's you can locate?

CaptHenway · June 24, 2011 2:08PM

<< 

<< Are you talking about the Die Varieties listed,
or the mechanical errors?

>>

Definitely talking about die varieties...like the 42/41 dime, the '55 cent, etc. I know that one-off errors like clips or delamination are cool, but they suffer from the fact that there is only one...rather than a bunch for collectors to compete over.

Yes...the die variety error coins are expensive...but like I say, in the lower grades, they aren't moving as fast. So if 10 years ago you could have bought 3 key coins or 3 error coins for the same $1,000 bill, you'd have been better off buying the keys.

So you think interest in them is going away?

Oh...and to Lakesam...yes...an error registry would rule! Maybe I should be scooping them up before one of them is created.

Steve >>

Might I suggest that you amend the thread title to reflect this? To me errors and varieties are two different fields.

TD

frnklnlvr · June 24, 2011 8:16PM

<< Some errors won't even fit in PCGS holders:

>>

I've always thought die caps were really cool!

Are there any known Franklin die caps?

Are people losing interest in errors?

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