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 Replies: 12 / Views: 1,528 |
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Valued Member
United States
243 Posts |
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Moderator
 United States
14463 Posts |
waffling is how the mint "destroys" bad/reject coins during the minting process. I am surprised these made it out, if they are real.
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Moderator
United States
56855 Posts |
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Pillar of the Community
United States
899 Posts |
Better hurry and bid...40 minutes left and only $154.95....
Yeah as others have pointed out - these are meant to be destroyed and in no way an error coin.
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Pillar of the Community
United States
1116 Posts |
I feel that the coins are either errors or rejects as shown in the reference posted by John1. Expecially if they can be identified back to a specific mintage. Although I do look at these a curiosity and an error I wouldn't spend the money on one. Evidently some people on ebay don't have the same view as me. |
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Valued Member
United States
164 Posts |
That looks cool.. I think....  BMM |
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Pillar of the Community
United States
2189 Posts |
I see them as an error but the Mint Damaged them beyond any collectable value, At least too me. Would I want a 1972 doubled die Lincoln Cent that's been waffled like this in my collection.Not really! it would just make me cry |
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Pillar of the Community
United States
1205 Posts |
me thinks it is odd that waffled coins "get out" of the mint, when supposed to be destroyed...any articles on the REAL side of this story, feel free to post.
TY
Cal
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Pillar of the Community
United States
2543 Posts |
Quote:
me thinks it is odd that waffled coins "get out" of the mint, when supposed to be destroyed... I think that is where any value lies. They are not supposed to leave the mint.All waffled coins are shipped to a company that melts them and recycles the metal. Lots of places for sticky fingers. Remember the guard at the Phila. mint that was stealing dollars before they went to the edging press and then selling them to a Calif. dealer who resold them as mint errors ? Not a mint error, only worth the metal value. |
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Valued Member
 United States
243 Posts |
I am still suspicion myself. If they are supposed to be destroyed how someone got them. I mean I don't think you can find those in a roll, maybe a mint bag?
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Rest in Peace
United States
1943 Posts |
Where does it say waffled coins must be destroyed after leaving the mint? I thought the whole reason the mint start the waffled coin process was so they could then sell the unacceptable coins to a scrap dealer and not worry about what happens to them after they leave the mint because the error coin value has been taken away by the waffle process. I have seen many waffled coins for sale and thought there is nothing illegal or unusual about this. They are not uncommon at all. The scrap dealers who buy the scrap from the mint can do whatever they want with it. If we collectors start paying a premium for the waffled coins then the scrap dealers will certainly pick them out and sell them instead of melting them. I think it is collectors who are creating this market.
Edited by pyrbob
04/04/2013 11:48 am
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Bedrock of the Community
United States
17884 Posts |
pyrbob has the right info. After they are waffled they are just scrap metal to the mint and the scrap is sold to the highest bidder. Usually it is bought back by the same companies that provide strip to the mint, but anyone can buy it. And once it is purchased the new owners can do anything they want to with it. If they want to pick out the waffled coins and sell them they can. Could some of the ones on the market be stolen from the metal processing companies? Yes, an if you were to go to them and with definitive evidence that one of their employees was stealing them and selling them they would probably fire him, but are they really going to to go investigating the theft of a few grams of metal out of a couple dozen ton shipment? Probably not. Now if the employee gets stupid and starts smuggling out multiple pound lots out of each batch or something else that becomes noticeable I'm sure they would take action.
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Pillar of the Community
United States
1137 Posts |
I added a waffle coin to my collection of interesting coins, but for a conversation piece only. I wanted a Pennsylvania waffled quarter but had to setting for Illinois.
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Replies: 12 / Views: 1,528 |
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Posted 04/03/2013 04:34 am
