Error coins from the mint on purpose?
Schoff's plug got me over to fleabay pages so I looked up "washington error" while I was there. 1,249 auctions with those terms. I figure a lot of folks that found these are hanging on to them for themselves so there must be a boatload of them total.
I did see one auction that guaranteed they had error coins from Denver even though the mint says they all came from Philly.
Several of the auctions were "buy my unopened roll and you might get a smoothie" and more than one seller had deceptive titles that implied they were selling an "error coin" but in fact it was just an ordinary roll.
It was suggested in another thread here that the error was intentional to get people to buy the coins. How many think that is true?
I did see one auction that guaranteed they had error coins from Denver even though the mint says they all came from Philly.
Several of the auctions were "buy my unopened roll and you might get a smoothie" and more than one seller had deceptive titles that implied they were selling an "error coin" but in fact it was just an ordinary roll.
It was suggested in another thread here that the error was intentional to get people to buy the coins. How many think that is true?
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I too find it hard to believe that a US mint can make a mistake like that on that many coins without noticing it in their inspection process. 0 -
Some flea bay members are very deceptive. One must read very carefully to weed out the modern day crooks.
Here's part of the police reports published in the news paper.
Theft
eBay unpaid item
A 57-year-old man reported to Oswego police Monday that he purchased an item on eBay for $12,250 and the item was never delivered.0 -
Not on purpose. US mint really takes pride in turning out a quality item. It produces billions of coins and bills a year with very few errors. If you find one hang on to it. Ask the guys who own 1955 doubles........ 0 -
Want to sell silver coins what's the best way and should they be advertized individually or in a group? 0 -
What is the use in doing it on purpose? So, you get somebody to buy a dollar with a dollar, so what? 0 -
quote:Originally posted by matwor
What is the use in doing it on purpose? So, you get somebody to buy a dollar with a dollar, so what?
The point being that many people who would not ordinarily buy/use any dollar coins have rushed out and bought $1000 boxes full. The coins that are not errors have to go somewhere, right?0 -
But the point is also that the govt. does not want people hoarding the new coins, they want them in circulation. And you say that the coins have to go somewhere, well if the bank, conv. stores, grocery stores keep giving them out as change they will go somewhere. 0 -
quote:Originally posted by matwor
But the point is also that the govt. does not want people hoarding the new coins, they want them in circulation. And you say that the coins have to go somewhere, well if the bank, conv. stores, grocery stores keep giving them out as change they will go somewhere.
Bingo! Only the error coins get hoarded, the hundreds of others that otherwise would not have been purchased are put into circulation.0 -
quote:Originally posted by v35
Want to sell silver coins what's the best way and should they be advertized individually or in a group?
Sell them on ebay all together and make sure you list the total face value of what your selling. You will get closer to what they're really worth vs going to a coin shop to sell them.[;)]0 -
quote:Originally posted by Hunter Mag
quote:Originally posted by v35
Want to sell silver coins what's the best way and should they be advertized individually or in a group?
Sell them on ebay all together and make sure you list the total face value of what your selling. You will get closer to what they're really worth vs going to a coin shop to sell them.[;)]
Bite your tongue, sir. Gun Broker is the place to auction them.0 -
The dollar coin will not last, look at the last two that were tried. There will be a frenzy to get a bunch at the start then just like the others will fizzle out.. 0 -
quote:Originally posted by Classic095
The dollar coin will not last, look at the last two that were tried. There will be a frenzy to get a bunch at the start then just like the others will fizzle out..
Not just the last two...all of them. They've been minted for over 200 years now, and have never been all that popular.0 -
When the mint sends you a coin, they include a note that if there is anything wrong with the coin (mint error), you can return it for a return or exchange. [:D] 0 -
It's true that dollar coins have never been popular. Nowadays, we look at the old Morgan dollars and think everyone must've been walking around with pockets full. Hey, at least they were real money back then, being silver. But that's not the case. They saw very little circulation east of the Mississippi - where 80% of the population lived.
About the error thing...nearly every coin issue for the past 20 years has some error variety. Trouble is they're reported on almost immediately and the coins are hoarded before they circulate (much). Within weeks everyone who wants one has one. The 1955 double die penny that was mentioned was basically unknown by the public until the following year. And it was minted in far fewer quantities than the numbers we see today. In mint condition it's worth $10,000+. Compare that to the Wisconsin quarter of 2004 - some had an extra leaf on the ear of corn - which was selling for as much as $1500. Some of the highest condition pieces are still bringing a couple hundred bucks, but there's a lightly circulated example on ebay right now for 99 cents and no bids.
Bottom line: if you find one in your change, great - stick it in the sock drawer. I would never pay a big premium for an error coin until the hobby had an estimate of how many were produced.0 -
It's a conspiracy thought up by the same people that faked the moon landing...[;)] 0 -
why would they make errors on purpose?
dunno, why would they make different nickels and all those state quarters (some of which also had strike errors) that they were pushing on collectors?
I don't know what they would get out of it. but it looks to me like they want to make collectables for some reason. then these errors... who knows. maybe there's a fat govt employee somewhere with a big ol' stash.0 -
I was talking to a coin dealer today at a gun show and he said they did it to see the reaction from the public,He seemed to think they had minted several thousand without the In God we trust on the sides just to see what happens with the general public. Whizz on them 0 -
I wonder how many crooks out there will buff off the lettering on the edge of the coin and sell them as the mint mistake. You know there is always frauds out there waiting to get you.
I wouldn't mind seeing the Goverment quit making the paper dollar. I also think they could make a $5 coin and eliminate that bill as well. It would save the treasury alot of money, but as long as they make the bills, the coins will never catch on.0
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