What Is A Waffle Coin?

Well, from what little knowledge I have on the topic, a waffle coin is a coin that doesn't meet the standards of the mint, and is put through a machine that 'waffles' them. The damage done purposefully makes the coins unable to circulate. There is a small market for waffled coins, and you can see some of them on ebay.

Here's a link to a little more information on them. http://www.mintnews.com/story.php?artid=000017

LOL, I just bought my first example of one, a kennedy because the price was right. I don't really consider these errors, but I wanted one example.

they WILL sell on ebay.

errror

I've looked at the pictures on ebay. Do you have pictures of the ones you have?

Actually waffled coins come from batches where serious errors were found, so they decided to destroy the whole lot instead of picking through them to weed out the few errors. It's the mint's way of yanking errors before they make it out to the collectors, but it backfired on them...because people will buy ANYTHING, even scrap metal that the mint purposefully defaced.

I appreciate the comment, but the point wasn't to knock people who buy waffled coins. The point was to illustrate that the mint, even in their undying effort to kill the error market, unknowingly created yet another market in trying to get rid of the first market.

Officially the mint doesn't make mistakes...errors don't exist. So they kill the errors, and it creates a market. I think it's funny.

Oh...and having a waffle coin would be cool, but I see no long term escalation of value in them. Buy one cheap, have it to enjoy, but don't go crazy spending a fortune on them. I highly doubt there's much beyond a very shallow market for them, and I highly doubt they will become valuable like the errors they would have been.

They recognize waffles as an error because they frankly don't have a category in their system for "scrap metal". There is a market for them, but you have to watch for them to come up at a good price...you'll eventually find one at a decent price if you study them long enough.

My belief stands, however, that the market for them is quite shallow and has little chance of moving up, especially if they continue the practice, forever making pieces more and more available.

There's also a market for completely cancelled dies, on which not a single part of the design is still there...but would I buy one? Umm...I see no point. It's a bar of steel that used to be a die...it's not a die unless at least some of the original design that made it a die is still visible.

If anyone would like one (a waffle) pm me with shipping info and I will get one out to you when we get another bag (probably the end of Sept or begining of Oct)

They are usually prez, sacs, or quarts. I will give away whatever I find. Maybe someone will get lucky and get an off center strike as well?

I'm also interested in one. I tried to PM, but there's no contact info.