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I just remembered something else, too. When Nixon was president, I collected stamps, and back then there were "postage due" stamps in different denominations. I suggested to someone that there should be a Spiro Agnew $5 postage due stamp. Not nothing, but the next best thing.
I get where you are coming from but there would be no easy way to guarantee that it was, in fact, a coin blank vs. a privately manufactured silver unstruck token
The numerical grade is weird but the authentication is appropriate
It hadn't occurred to me that slabbing would serve to authenticate the planchet. It's not surprising that some collectors would like to have a genuine blank planchet from the mint, but it's still funny to me how much it costs. Tonight, I'll probably dream about becoming rich by inheriting a collection of slabbed lowball coins and blanks, or by collecting them myself despite everyone's eye rolling.
I suppose the mint could sell blanks of different-sized coins, and for a while they'd make good money at it. But then they'd probably saturate the potential market. That's what happened with the radial tire anniversary coin, when the US Mint started commemorating everything.
As I said before errors are a very collectable legitimate area of collecting. I I had a feeling that this "nothing" stuff was more than a Seinfield reference and now that has been concerned. If someone doesn't wan't to collect errors, but all means don't. Trying to be cute and insulting about what people collect though is exhausting.
OK, I've read through this thread 3 times now and I'm still confused.
Seinfeld references (which I get and love) and witty repartee aside....why is this an error? Clearly PCGS thinks it's one. But if it was never struck, how can it be an error?
Sorry if I'm missing something obvious here...not a lot of sleep lately.
Celtic and JBuck Your discussion is intriguing and ultimately may be imponderable. Jbuck is right if the blank planchet went through the press and the press failed to strike it. But if the planchet never made it to the press, say it fell on the floor or was snatched by a mint employee as a curiosity, is it really an error or simply a blank planchet that was neither struck nor destroyed? In that case, the only error would be letting it be essentially stolen. It is not exactly a chicken and egg problem, but I don't see how it can be answered definitively. Therefore, I think Celtic's question raises an issue that may not Be resolvable.
Quote: f a coin planchet is just a piece of unfinished metal, how can it be worth anything? Certainly there's inherent value to the metal itself. Generally speaking, however, unless it's a larger planchet containing a high percentage of platinum, gold or silver, very little value will be due to its content. Instead, the value comes from the fact that the coin planchet was involved in the US Minting process. A NGC Certified Planchet Error More notably, the planchet was an ERROR that escaped US Mint quality assurance eyes and made it to public circulation. There's an attraction with many coin collectors for this type of historical error or uniqueness.
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Posted 04/04/2019 01:15 am
