Does The Mint Sell/Donate Error Coins?

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Author	Replies: 6 / Views: 953
Finn235 Pillar of the Community United States 6130 Posts	Posted 04/09/2015 4:49 pm A little background here: When I was about 11 or 12, my parents took me to a local coin show that had a free "scavenger hunt" for the kids. We had instructions to go to designated booths, where we would learn a little about different coins and their history. Many of the booths gave away coins, usually worth $0.25-$1, such as partial date buffaloes and steel cents. However, one booth that specialized on error coins gave away cents that were struck a good 40-60% off center. I understand that this helped generate interest in purchasing an expensive subscription to their quarterly magazine, but paying $5-15 each for the cents to give away to kids seems a bit steep, considering that they had a good 25-50 on hand for the scavenger hunt and no purchase was required to receive one. Which got me wondering--did they really buy all of these coins at "market" price, or were they donated or sold in bulk by the Mint? Report this Post to the Staff

biokemist6 Bedrock of the Community United States 12437 Posts	Posted 04/09/2015 5:16 pm I really doubt that the US Mint donated error coins to anyone, they have a policy of keep and destroy. However, low-dollar errors such as the ones you describe were formerly primarily obtained from bulk canvas bags that were available from banks. That method of distribution has been defunct for almost 15 years now and 21st century errors have become fairly rare and pricy. Report this Post to the Staff
ChildOfTheWheat Pillar of the Community United States 5828 Posts	Posted 04/09/2015 7:03 pm They dont give out error coins, or even sell them The US mint belives that US coins are the best and no errors should leave the mint, as that would suggest the US Mint sucks, or something. With most of the error coins they find, they "waffle" them, and barely any get through. Here is an SBA I found a pic of online. Report this Post to the Staff
Buddy Rest in Peace United States 7075 Posts	Posted 04/09/2015 7:54 pm I always thought that error coins had to have some 'help' getting out of the mint -- especially the error coins that are grossly out of normal size and shape. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 04/09/2015 9:38 pm No system can vet the errors perfectly when you're trying to QA a billion coins a year. There are enough off-center Lincolns so we discuss their value in the $10-20 range for good ones. In fact, there's one being actively discussed in that range right now, in this forum. We (CCF) give away far more than that kind of value at every coin show we do. It's not much. Report this Post to the Staff
Cascade Pillar of the Community United States 7390 Posts	Posted 04/09/2015 9:46 pm it's a loss leader... Business 101 Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 04/10/2015 11:40 am The $5- $15 value figure is too high. Yes if you are buying an individual coin you might pay $5 for it but off-center cents were quite common back before 2000 and could be acquired in bulk for error dealers for around $1 each. Possibly less. I know when I was a teenager I could buy them retial for less than $2 each. Report this Post to the Staff
	Replies: 6 / Views: 953

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