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How Do You Define A Rare Error?

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boatshed's Avatar
Australia
45 Posts
 Posted 08/09/2019  11:29 pm Show Profile   Bookmark this topic Add boatshed to your friends list Get a Link to this Message Number of Subscribers
I've found multiple errors in a pre decimal sixpence that are not listed in Renniks. The closest variety is listed as RARE that has quite a few errors. Can I call my coin RARE if it lists only a few of these errors but extra ones as well?
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Australia
599 Posts
 Posted 08/10/2019  12:05 am  Show Profile   Bookmark this reply Add echidna to your friends list Get a Link to this Reply
Do you have a pic ?




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boatshed's Avatar
Australia
45 Posts
 Posted 08/10/2019  12:21 am  Show Profile   Bookmark this reply Add boatshed to your friends list Get a Link to this Reply
The line/crack from left scroll down to rim is very faint but it IS there. I don't think it's PMD.
How-Do-You-Define-A-Rare-Error?
How-Do-You-Define-A-Rare-Error?
How-Do-You-Define-A-Rare-Error?
How-Do-You-Define-A-Rare-Error?
How-Do-You-Define-A-Rare-Error?
How-Do-You-Define-A-Rare-Error?
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Australia
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 Posted 08/10/2019  12:57 am  Show Profile   Bookmark this reply Add echidna to your friends list Get a Link to this Reply
Nice pics.
Die cracks are common on Aussie pre-decimal coins.
A specific die crack could be described as rare technically.
But value wise worth maybe a couple of dollars extra.
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moxking's Avatar
United States
17900 Posts
 Posted 08/10/2019  01:01 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Appears to be a later die state with lots of cracks.

The term rarity or rare is often misused. Most coin variety collectors use a set number that are known or extrapolated. R10 is Unique, R9 is very rare, and R8 is rare. At that level there are probably no more than 10 known.

But rare does not equal valuable. Not to be absurd, but to illustrate the point, if you look at 1000 of the same type, date, and variety some of them will have marks that distinguishes them from all others. One may even have a tiny die chip and of the 100,000 reviewed it is the only one displaying that chip. While it may be "rare", it is unlikely that such a small problem would translate to any additional numismatic value increase.
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boatshed's Avatar
Australia
45 Posts
 Posted 08/10/2019  03:35 am  Show Profile   Bookmark this reply Add boatshed to your friends list Get a Link to this Reply
Thanks moxking and echidna. You answered my questions perfectly. But I really do love that die crack right across the date.
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moxking's Avatar
United States
17900 Posts
 Posted 08/10/2019  7:33 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
It's a great looking coin. Did the mints use their dies longer during WWII?
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Nevol's Avatar
Australia
5385 Posts
 Posted 10/24/2019  9:10 pm  Show Profile   Bookmark this reply Add Nevol to your friends list Get a Link to this Reply

Quote:
Did the mints use their dies longer during WWII?
We'd probably have been the last to know that fact as many of the Aussie coins were minted in the US during WWII. This particular one was minted in Denver, hence the D Mint Mark above the date.
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Basil's Avatar
Australia
1040 Posts
 Posted 10/24/2019  10:42 pm  Show Profile   Bookmark this reply Add Basil to your friends list Get a Link to this Reply

Quote:
Did the mints use their dies longer during WWII?


Short answer is yes,in Aust. at least,as Nancy says that's a Denver minted Coin,they produced their own Dies for Oz. Coins during the war.
In Aust. there was a severe Coin Shortage during the war,the full extent of which wasn't revealed until the 1970's when WW11 researchers/Historians were able to able to study declassified & uncensored Documents.
The Melbourne. Mint had great difficulties in supplying Coins to the Banking system from 1939/40 onwards,only getting back on track towards the end of the war so desperate measures were required whilst waiting for the Indian minted copper Coins to arrive.

Edited by Basil
10/25/2019 07:15 am
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GrapeCollects's Avatar
United States
8938 Posts
 Posted 10/25/2019  12:44 am  Show Profile   Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
I think the best definition is this. All errors are technically unique, but how often, and to what degree defines rarity.
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 Posted 11/03/2019  11:15 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Not to go too far off topic but if R10 stands for unique then what do we go to (Spinal Tap level R11?) for coins that theoretically might exist but have never been sighted or coins for which a unique specimen was known but then destroyed (or the entire minting run was destroyed). I can think of many examples of coins that have been reported but not verified, of dated dies prepared but reportedly not used or of coins where the entire mintage was destroyed. I have several R10 coins but am ever optimistic of finding the possible R11s (and if someone ever found a theoretical R11 that coin would become a real R10).
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sel_69l's Avatar
Australia
21786 Posts
 Posted 11/03/2019  11:46 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
A one off error would obviously considered rare, but even then, it may not necessarily be valuable.

What makes an error valuable is the type of error, (some types of errors are much rarer than other types of errors), and it's severity.

An accidently struck off metal strike in silver when it should have been struck in bronze.
How about a Flying Eagle cent struck in gold?
or
a Wartime nickel struck in standard copper nickel?
or
a 1943 Lincoln Cent struck in bronze?
or
an Australian Florin struck on a U.S. Wartime Nickel blank?

.................................................................................................................................................

Sometimes an error may even be less valuable than a standard strike, especially if it is of a rare coin, that is otherwise perfectly struck.

What would you prefer?
a): a Flowing Hair Dollar in MS60, that is very weakly struck, with large parts of the design missing,
or
b) same, but perfectly and sharply struck up in AU55?
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