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Replies: 40 / Views: 3,335 |
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Pillar of the Community
United States
7629 Posts |
There's one MAJOR thing being missed here - calling die chips, die wear, cracks, and Machine Doubling "errors" is a misrepresentation. They are junk, not errors. They are common, not collectible. The more people put these out for sale, the more we prolong the ignorance of the masses. They think these things must have some value if others go to the trouble to list them on ebay. Nothing could be farther from the truth. If I pulled every example of a coin that didn't strike perfectly out of my searches I would have bags and bags of these things. They are common, they have no value, and the sooner people quit trying to sell them like they are something different and unusual the sooner people can quit wasting their money and move on to something that does have value. I have always and will always disagree that selling die chips, cracks, and Machine Doubling as "errors" is wrong...and once someone is educated to the fact, if they continue the practice they become shady in my view. It's a simple fact that they are common, they are easy to find, so why would anyone want to pay a premium for them? Because someone is misinforming them that these coins have value...that's just wrong. The whole reason people "have interest" in these is because they believe people who tell them they are collectible. You're telling people they have value by bothering to tube them and sell them. It's about time people graduated away from the Frank Spadone way of thinking.
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Valued Member
United States
236 Posts |
The topic is Do you like MDs or not & why. Copper, to you MDs are completely junk....that's your opinion & that's perfectly fine, but what you are taking away is individuality. The fact that some people like MDs IS PERFECTLY FINE. You say they don't have value. That's a personal statement. They have absolutley NO VALUE to you. They do have value to others who think there cool enough to have. Not everyone is telling everyone that MDs are valuable. The old saying, "One mans garbage is another mans treasure" applies. Some people like Chevy's others think there junk. Just a matter of preference. I really don't think it's an issue, unless someone is blatently trying to pass off an MD for a high end DD.
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Valued Member
United States
236 Posts |
Personally, I like FORDs.......... 
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Pillar of the Community
United States
7629 Posts |
You are still skipping the point. It seems that my point is constantly skipped here, and I have no clue why. The FACT of the matter is that these ARE common and have NO MARKET VALUE. I didn't create the market, it was there before I was born and will be there long after I die. I'm not telling you what to collect, that's your call. Representing this junk as collectible coins so you can profit from people's ignorance is WRONG. That was my point. The supposed collectibility of these things stems from the true collectibility of doubled dies. Doubled dies are rare and are valuable, and there is a proven market to back that up. Machine Doubling is what people save when finding a doubled die takes too much energy or time for them...they fall to second best and start saving this stuff as if it were collectible. The proof is in circulation...you can easily find a thousand machine doubled coins to one doubled die, so it's obvious that one is rare and the other is not. The method of their manufacture is another easy reason why one is rare and the other is common. People who don't know the difference will collect either, happy with what they get. They often get the wrong idea and think this junk is worth something...and people who sell it and tout it as being valuable and collectible only help others learn incorrect information and base their collecting knowledge on falsehood. It's the responsibility of people who do know the difference to NOT mislead people who don't know and haven't had the education. Selling Machine Doubling as collectible is just as wrong as selling cars with known problems as being problem-free. It's the exact same thing. Machine Doubling is the result of a very common occurrence at the mint and is worthless...that's not a personal statement, that's a FACT. Machine Doubling is neat to some people, but paying a premium for it is wrong, charging a premium for it is wrong, and calling it collectible is wrong. It muddies the waters for people trying to give true numismatic knowledge to others, and it personally makes me sick. THAT'S a personal statement. Instead of settling for easy to find market-valueless stuff that doesn't impress anyone other than a novice, why not break through the cloudy fog and learn how to tell a doubled die, spend the time to find them, and have something to collect that's actually worth something? Something that is actually worth passing down to younger collectors...something that will bring profit later on - honestly. Yeah...sure they are really hard to find. I've been through over a million coins in my time looking and have found fewer than a thousand doubled dies (compared to the over 100,000 machine doubled coins I tossed back). I recognized early that doubled dies were the scarce ones, machine doubled coins weren't worth as much as the supplies to store them. Coins are valuable when they are more difficult to find...not JUST because they exhibit something that looks like doubling. I just don't understand why so many people can't get that?
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Pillar of the Community
United States
2049 Posts |
Thank you to the person who gave the description of double die vs Machine Doubling. One thing I was wondering is how a double die becomes a double die?
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Bedrock of the Community
United States
20753 Posts |
Quote: You are still skipping the point. It seems that my point is constantly skipped here, and I have no clue why. The FACT of the matter is that these ARE common and have NO MARKET VALUE. I didn't create the market, it was there before I was born and will be there long after I die. I'm not telling you what to collect, that's your call. NO MARKET VALUE? Possibly true in some areas or to some people. HOWEVER, as I've noted many times in the past, I go to about 2 to 4 coin shows a month. Error coin collecting is becoming very large at these shows. Very, very minor errors are now selling for $$'s. None are selling for less than $2 to $3 for the slightest so called NO MARKET VALUE. Slight offsets I too in the past have thrown back into change are now selling as error coins and are not cheap. Numerous varieties of doubles such as the 55 Lincoln Cent Poor Man's Double Die are now into the $20 or more range in MS grades. Sorry Chuck but although you may be correct that those shouldn't be valuable, they are. And they are growing in value constantly. As noted ebay, other web sites and numerous coin shows are selling all kinds of coins that are not valuable.
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Pillar of the Community
United States
7629 Posts |
Yeah...they ARE selling like they have value...because MOST of the people buying AND selling them don't look through coins at the rate people like me do. They don't KNOW, thus they are scamming people, ripping people off, and simply selling stuff they know nothing about.
This goes back to the dealers at the shows selling 1955 cents with VERY common die wear as "double dies" - well, they aren't...and if the people buying them knew so, the dealers wouldn't get a plug nickel for them. Just because you CAN sell worthless coins at value doesn't mean they HAVE that value.
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Pillar of the Community
United States
7629 Posts |
The last time this subject came up around here I offered a thousand Lincoln cents at 25 cents each that had these 'anomalies' on them...I'm simply NOT going to call them 'errors'. People here touting they were worth something - Okay, then...put your money where your mouth is...
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Bedrock of the Community
United States
12437 Posts |
Quote:Numerous varieties of doubles such as the 55 Lincoln Cent Poor Man's Double Die are now into the $20 or more range in MS grades That is an act of criminality for a coin that is worth no more than $2 for a nice red uncirculated coin  That is part of the hype that makes people think that it is a minor doubled die or actually has real value. A dealer playing on ignorance does not set the market value, only the value of what an uneducated person would pay  If I saw a dealer at a show selling junk like that for inflated prices, he would get an earful from me for being the shyster that he is. Why would anyone consider something that is part of the normal mintage process(mechanical doubling, Die Deterioration, small cracks, chips etc are all part of the accepted minting process) to actually be worth more? Coin collecting is a very technical and involved hobby and it can be easy to fool the masses. I would bet that 75% or more of people who call themselves coin collectors do not properly understand the processes for making dies or minting coins. Without that knowledge, you are in a really big dark cave with a tiny flashlight- you can only see what is in front of you and even then you are not quite sure what you are looking at. Chuck(and myself to a lesser extent) fights hard for proper education which is what quite a few people in the hobby need with misinformation and outright lies repeated verbatim throughout the years. Just because 20 people tell you the same thing, it does not make them right.
Edited by biokemist6 03/27/2008 5:06 pm
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Valued Member
United States
236 Posts |
What has blown out of extreme proportion is the BASICS folks. Most of the people here on this forum are not as in depth or knowledgeable a collector as others. This is why we seek advice and learn from what others have experienced or have. Every single collector on this forum began as a novice; whether you were given one coin or several thousand that started your Numismatic journey, you didn't know what was what, until you started learning. I personally do not like the idea of MDs selling for a premium, but as a collector, you sometimes keep some of the fake to give you an idea of what not to look for. The origional question was simple and harmless, more so directed to the general numismatic population than probably to the so called Experts. Once people become more & more educated off of the excellent topics that arise, you should see a significant decline in MD collecting.
Copper, I consider you a teacher for your experience and value your experience. What I don't value is the arrogance & the lack of looking at peoples questions for the innocence that they are. This topic will come and go, and the flames will subside. The pedestal needs to come down and we need to be looking eye to eye for the help we seek.
Again.......to the novices and non-novices begining in the numismatic field; they may collect more MDs at the begining than true DDs until they can probably get enough DDs to begin tossing out what insignificant MDs they have.
If there is a nockoff artist passing MDs for DDs, then he/she needs to be exposed or well educated on their actions. Collecting coins shouldn't be as serious and poltical as it has become. Basics is the key word.
Eric
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Bedrock of the Community
United States
20753 Posts |
As coffeegod said the original post mainly wanted to know how many like Mechanical Double and why? In way to many posts people just want to know the basics, not the values. Regardless I've just got to go along with coffeegod. What some people think is junk, others find this is what they wanted for a long time. At a local flea market there is a person I know that sells only items he finds in the garbage. I mean the stuff people throw out. And he does sell this so called garbage. If you watch the Antique Road Show you would see so many times people with items worth a lot of money they found in the garbage as JUNK. Coppercoins I know it irritates you no end about such things as minor perfections in coins. I've also heard you mention how little money there is in your position. Maybe if you'ld join the people that want to buy JUNK as a error or maybe just a novelty, you too could make a lot of money. Like I've said at coin shows such items as you describe as JUNK does sell. ebay has the audience of millions and millions and if those millions want minor error coins, then they will buy them regardless of anyone stating they are JUMK or not. As Biokemist6 stated it is not the dealers that make the prices. In reality to a degree it is. If numerous dealers all want $5 for a very slight offset, then many people think that is what it is worth. majority rules. As a coin collector of well over 60 years I have put back into circulation many, many coins that today I see selling at coin shows. At one time an Edsel Auto was a joke. Today an Edsel Convertible sells for about $100,000. Nice joke. OH, one more thing coffeegod, I don't like Fords. I'm a Mopar person.
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Valued Member
United States
236 Posts |
Actually....... I have a Chrysler MiniVan to tote three kids about..... 
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Pillar of the Community
United States
7629 Posts |
Okay, so the thread did get a little hijacked. I was in no way responding to the original poster of the thread. I was replying to one person's comments about selling Machine Doubling by the roll at a premium...I saw red. It's easy to do when I see myself as an educator trying to tell people day and night not to buy the junk, find it in your change - it's easy. BUY the stuff you don't see every day. Buy the good stuff and leave the other stuff to the weekend roll searches. Like I said before, I never called anyone out for collecting Machine Doubling. I call them out for selling it like it has some market value. It DOES NOT...simply put. Anyone who charges over normal value for a coin just because it has Machine Doubling is misrepresenting what they are selling. Point blank, end of story. Whether intended or not, it is misrepresentation and SHOULD BE STOPPED. See me as being arrogant if you like. I'm trying to teach people and save them from making mistakes. Sorry if that's arrogance. Meanwhile we have people right here on this board fighting against ME for teaching people that collecting true errors and varieties has merit...they have value...they are scarce. Collecting little die chips and Machine Doubling, while it may rock the boat for some people, does NOT have VALUE just because someone sells them to someone else who doesn't know what they are buying. COUNTLESS times people....countless....I have seen little old ladies and kids selling their dead loved-one's collections thinking they were going to be able to pay for the funeral with the collection - just to find out their dead relative saved clad Kennedy half dollars and buckets of circulated wheat cents. The dead one never got the education they needed to make wise choices and buy the right stuff that actually WOULD have a chance of gaining value. I have seen binder after binder after binder full of crap...die chips, die cracks, Machine Doubling and other worthless stuff with thousand dollar price tags on the holders. And it simply breaks my heart to see someone who never cared about coins to try cashing in on the "valuable collection" just to get $50 for it. It's a simple two-headed point... 1. People NEED to either work toward collecting coins with value, or at least tell the family they'll never get over face for it. DO NOT die and leave your family thinking your books full of die cracks are going to bring them anything over face value....because they WON'T, and all you're going to do is leave heirs scratching their heads wondering why you wasted your life away on nothing. 2. If you want to collect the stuff worth money and simply don't have the money to start off with the 1955 doubled die, DO NOT buy a 1955 cent with Die Deterioration and put it in your collection and consider it done. Work toward it. Work for a nice collection. The challenge and the time it takes is half the fun. QUIT saving stupid little common machine doubled slugs because they "substitute" for the more valuable doubled dies. GET OUT THERE AND LOOK FOR THEM! I started this when I was 11 years old. I found my first doubled die when I was that age - a 1939 nickel DDR. I knew right away when I saw it that it was something special. I learned at the age of 11-12 what a doubled die was, and what the other non-collectible doubling was. It's not that hard, people...I could tell the difference at 12! I have since searched through over a million coins, and have about a thousand different 'keepers' to speak for it. Yeah, about one in a thousand coins is worth keeping...the rest are JUNK! I now have a collection worth around $100K, most of which I FOUND. I have never been rich, I've always been dirt poor. Until this year I NEVER made over $25K per year. I NEVER had a "coin budget" - I scratches through pocket change for 30 years, bought left-over wheat bags, bought $1-$2 BU rolls of memorials and built up what I have. It's NOT easy, and NOT going to happen over night. ANYONE can do it, but NOBODY is going to do it saving die cracks, house fire coins, and corroded cents. You HAVE to learn what's valuable - those are the challenging finds. The non-valuable stuff is not challenging to find - at all. That's why it has no value. And believe me...when you find that challenging coin--when you finally hit the jackpot, the euphoria is worth it. I have stories, just ask about them. Look...I'm not here to police what people are collecting...but if you're into collecting machine doubled coins, you are MISSING THE POINT in collecting doubling. I cannot say it any clearer. You really need to either learn what's valuable and start looking for the truly collectible, or at least make sure your family and friends know what you're doing is a waste of time if they plan to pay for your funeral with your coins.
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Pillar of the Community
United States
2600 Posts |
Well said, Chuck, and thank you for caring.
Jim
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Pillar of the Community
United States
3507 Posts |
I posted and then I deleted it. same territory different day.
Edited by foundinrolls 03/27/2008 10:15 pm
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Replies: 40 / Views: 3,335 |
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