So Who Exactly Puts The Values On "error" Coins?

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Author	Replies: 8 / Views: 1,388
4504 Valued Member United States 379 Posts	Posted 01/31/2017 7:45 pm hello all saw this today. a 1/10th oz of platinum normally would go for about $100-150. but, because of the error, the seller is wanting (not asking, there is no "offer" option) $8,500.00 I am not making any accusations or insinuations or anything like that at all. this is just a neutral question... is it a matter of the individual who determines what his error coin is worth, or, is there some sort of "error coin pricelist catalog somewhere? (I think I already know the answer, but thought I would put it past you more experience folks)... http://www.ebay.com/itm/2016-Mint-E...AOSwo4pYdwiG Report this Post to the Staff

Chute72 Pillar of the Community United States 1314 Posts	Posted 01/31/2017 7:59 pm The buyer. Report this Post to the Staff
oriole Pillar of the Community Canada 5239 Posts	Posted 01/31/2017 8:10 pm @Chute72 is correct. There are far too many variables for there to be any kind of general catalogue of errors and their values. So you have to look at sales prices. Something of the one you mentioned may very well be one of a kind. I think that anyone who pays that much for it would also be one of a kind. Report this Post to the Staff
Buddy Rest in Peace United States 7075 Posts	Posted 01/31/2017 8:10 pm 100% Report this Post to the Staff
BigSilver Pillar of the Community United States 2843 Posts	Posted 01/31/2017 8:20 pm I would say the market. If I have something that you want, and nobody else can provide it to you, then I can ask any amount that you will pay. If it is too much, then there is no sale. Like everything else, supply and demand runs the show. Report this Post to the Staff
spru Bedrock of the Community United States 12477 Posts	Posted 01/31/2017 9:59 pm The buyer. Some errors, like laminations, are ALL one of a kind but that doesn't make them all priceless. With this, and any error, eye appeal can play a huge part and that will vary from seller to buyer to buyer. I think the only thing that would make this piece special is that the date is intact - but not THAT special. In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024 Edited by spru 01/31/2017 10:00 pm Report this Post to the Staff
Lembafc Valued Member Korea, Republic Of 489 Posts	Posted 02/01/2017 12:14 am The heart, good sir. The heart. Report this Post to the Staff
Scissel Pillar of the Community Canada 693 Posts	Posted 02/01/2017 12:45 am I don't think there will be any buyers at $8500. It is a cool error, but several factors limit the value: this is a "world" coin; not part of a circulation series; and minted at a private (non-government) mint. If the seller listed it at 1/10 the asking price there might be some interested bidders. Report this Post to the Staff
ErrorCoins222 Pillar of the Community United States 1699 Posts	Posted 02/01/2017 02:45 am First, I'd like to point out that this is not an off-center strike, as NGC has noted on the label. It actually appears to be a major (and I mean major!) misaligned die. This may be an oversimplification of the error attribution, but it is not a simple off-center coin. This is another good lesson in error collecting - always scrutinize the label! Others have provided good information about pricing. There are many variables such as eye appeal, severity, rarity, host coin, etc., that contribute to the value of the error. Many error dealers and collectors will learn precisely how these factors contribute to value over time and are able place a value on an error coin. Of course, because many error coins are unique or nearly so, there only needs to be one collector to drive prices sky-high. Report this Post to the Staff
	Replies: 8 / Views: 1,388

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So Who Exactly Puts The Values On "Error" Coins?