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 Replies: 11 / Views: 2,184 |
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Pillar of the Community
United States
3644 Posts |
Curious how these coins get into circulation and why they don't fetch more of a premium? The extreme off center strikes is what I'm referring to,thanks!
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Pillar of the Community
United States
604 Posts |
Just a guess but it may have something to do with supply and demand. With severe off center strikes, they are more blank than detailed therefore may not be demanded by many people. I personally don't buy severe off center strikes for a big premium simply because there isn't much for me to look at. I had the opportunity to by a penny that had maybe 10% of its features visible and I passed simply because it wasn't appealing to me.
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Pillar of the Community
 United States
3644 Posts |
Thanks neo! Yea after I wrote that I realized it's the market that sets the price on anything-question should of been why they r not more desired or in demand but your explanation makes a lot of sense,I agree with you on not much to look at...they obviously don't fit in rolls so I wondered how these get into circulation too-didn't think pennies get delivered to banks in bags? But I don't know,may be a stupid question just had people ask me in the past and I had no answer-lol
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Pillar of the Community
United States
604 Posts |
Its not a stupid question, I don't think coins that have been deformed in this manner actually make it to circulation. As you said they wont fit into a roll so my guess is that someone, somewhere plucked it before it made it to the public and either held onto it or sold it. There are two places that I think this would happen and that would be at the mint or where the coins get put into rolls if not at the mint. I Don't know if I am correct or not but its the only explanation I can come up with.
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Rest in Peace
United States
4078 Posts |
Quote:
I don't know,may be a stupid question just had people ask me in the past and I had no answer-lol No not stupid. I have also asked the same question here at CCF and there was no answer.  |
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Valued Member
50 Posts |
Minor off centers can sometimes end up in circulation. More extreme examples are probably smuggled out of the mint or somewhere along the manufacturing chain by employees. As for why they don't bring much of a premium - the answer is that they do. It just depends on which coins you're referring to. Off center cents are common, probably more plentiful than the people who collect them, so prices are really low. However, with some issues, prices can go through the roof. An off center Morgan dollar is worth over $10,000. Even less extreme examples, any post-2001 State Quarter off center is worth a substantial premium (that was about when the Mint tightened its security considerably). I recently started a very fun project of world off center error coins, one per country. Some countries, for example Mexico or India, are very easy to find errors from. Others are much more difficult. Here's a small sampling, including a U.S. Washington quarter:  |
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Pillar of the Community
United States
604 Posts |
Those are some nice examples. I like the ones where you can see the date.
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Pillar of the Community
United States
8516 Posts |
Yep, for me they have to have a date...  Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Rest in Peace
United States
1943 Posts |
The thread I started yesterday showing the bag of broadstrike and off centered cents I bought from my local coin shop is a good example of one way this type of error can get into collectors hands. This bag of error coins was sold recently to my dealer by an employee of a local coin wrapping company (Brinks, Dunbar, ect.). The coins are rejected by the coin rolling machines.
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Pillar of the Community
United States
3644 Posts |
Awesome info and examples-recently got this one for few bucks off ebay and gotta admit wirhout a date I'm not really liking it but did not have one and just wanted one in the album   |
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Pillar of the Community
United States
604 Posts |
Thanks for the info pyrbob, good to know I wasn't to far off on my thinking.
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Rest in Peace
United States
4078 Posts |
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Replies: 11 / Views: 2,184 |
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Posted 12/13/2014 10:59 pm
