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 Replies: 18 / Views: 3,688 |
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Valued Member
Canada
191 Posts |
dots on 9s, above 9s, in letters, above letters. iknow I'm new to this , but this is getting ridiculous. now a dot on a 9 in a 1964 penny is going for $2500. and its all about getting publicity and creating demand for it, and some have more clout to do so. yes you can argue this is true for any coin, but at one point its just going to get unsustainable. plus this just makes it easier for counterfeiters. if there hasnt been a bubble in the "rare" coin industry yet , there soon will be one.
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Moderator
 United States
56855 Posts |
I think you are talking about varieties not errors   People collect what they like I guess. John1  |
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Pillar of the Community
Canada
3328 Posts |
 I someone throws a coin worth 2$ on auction and it gets bid up to some crazy high amount that's not on the seller. Previous sold listing can be found for anything almost and some people just jump at stuff. It's kind of a reverse situation to when you try to sell a coin worth 2000$ and it sells for 900. Fact is buyers control market prices so it's not really controllable, all we can do is educate people on what's "rare" or "collectable". |
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Bedrock of the Community
United States
19118 Posts |
It's the behavior of the marketplace--behaviors that have been around for thousands of years. As always, buyer beware.
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Pillar of the Community
Canada
5324 Posts |
If your first impression of an error is not wow, it"s will be almost worthless, the first two 2005 non mag P cents sold for around 20K today 2000.00, minor stuff is always who cares. The only dots that carry premiums are those in Charlton
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Pillar of the Community
Canada
999 Posts |
Some people love looking for varieties, including very minor ones and trying to find new ones. If they enjoy that, then good for them. Sometimes you can make a lot of money from CRH and finding these things then selling them to people who will pay big dollars for it.
Personally I don't do this. I've probably missed things when CRH because I'm not looking closely at every single coin I come across. I like to be able to tell the difference between my coins without pulling out the magnifier.
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Pillar of the Community
 Canada
5585 Posts |
I don't know when or where this minor error has a "value" of 1, 2, or 3 thousand dollars. You can not go by the "guesses" on CaC since most listed there are figures put there by the submitters. It is a die chip or a rust pit that was not put there intentionally. People think that by talking up rarity or scarcities, people without their feet on the ground will actually pay something like that. As has been said on this and other boards .... don't believe prices from the CaC site!
Edited by okiecoiner
08/02/2022 12:18 pm
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Pillar of the Community
United States
1101 Posts |
As a Victoria large cent die tracker, I appreciate those little die pits which produce dots on coins and the little die scratches which produce lines on the coins. They help in identifying the individual die which produced a coin. They can be very useful when putting together a catalog of all the dies of a particular year. They may even be the only way to identify a scarce die (especially in an early state where no die cracks are present). I can't imagine anyone trying to put together a catalog of 1964 cent dies, but with enough patience and magnification and photography skills even that might be possible. Some variety collectors seem to gravitate toward the nearly impossible.  Here's a die chip dot above the V of VICTORIA which identifies a particular 1896 obverse die. I was excited when I found this one, not because it was valuable, but because it was fun and helpful to what I was trying to accomplish.  Edited by Phil310
08/02/2022 10:57 am
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Valued Member
United States
493 Posts |
I think die tracking is different than trying to collect coins with dots and chips. If you are a die tracker, you certainly pay attention to every little mark to be able to classify and catalog your finds. The process is iterative by its nature. The thrill of finding something no one else has identified is worth its weight in gold to some of us. It even gets more fun when you collect die states as well as individual dies and marriages ;)
The 3 new additions to the Haxby catalog that Phil310 added in July all stem from people taking a good look at what they have and identifying what is different from what is cataloged. Will any of the finds command an absurdly premium price? Not likely, it's the hunt and knowing you have contributed to a furthering of the knowledge base that's important for those of us that do this type of stuff.
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Pillar of the Community
Canada
5324 Posts |
Ask yourself what would you pay for this coin ? now you have your answer,
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Pillar of the Community
Canada
1984 Posts |
I think someone listed some ICCS graded versions of the 1964 dot a few years back at those sorts of prices a few years back. I am not sure if they sold. I did have a nice ungraded red one I sold a few years ago. I think it went for $50 or so. There are definitely buyers out there, though I don't think there are at the Coins & Canada prices.
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Pillar of the Community
Canada
3328 Posts |
Many people rely solely on CAC price guide, which is a horrible idea. I would not be surprised if something went at some point for an insane amount even though its essentially a worthless die event, specifically due to the prices on CAC. CAC does have some semi accurate prices for some things but these sorts of things are hyper inflated in there. It's best to use multiple sources and always check ebay sold listing for an accurate price guide. I have witnessed die events on modern coins sell between 20-100$ depending how severe they are, just like anything else bidding wars can start with two people and quickly escalate especially if it's not in a catalogue. I have a few die events I hold onto but most go back into circulation. |
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Pillar of the Community
United States
3402 Posts |
Variety is the spice of life!!!! Ignore them if you want.
KK
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Pillar of the Community
Canada
3328 Posts |
I think almost all the die events I have kept have been in cents and dimes, I almost never find them on quarter and up, I have a few 5cent coins and I think 5cents die events are my favorite to follow, the dimes I just happen to stumble upon randomly.
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Valued Member
United States
493 Posts |
recollector
When I read this today, I thought of this thread. This is taken from Penny-Wise, The Official Publication of Early American Coppers (EAC), Vol LVI Number 3, July 2022 page 151
"Mint Director J. Ross Snowden's Opinion of Coin Collectors
From A Description of Ancient and Modern Coins in the Cabinet Collection of the Mint of the United States 1860, Liippincott, Philadelphia, PA
In giving a history of the coins of the United States we shall not go so far into the details of the subject as to take notice of the different 'varieties' caused by cracked dies, the addition or omission of the leaf in the laurel, a larger or smaller letter in the legend or inscription, and the countless other minute and scarcely definable differences which are found, upon close inspection, to exist in the coins of nearly every year in which they have been issued. These little technicalities may be important to those collectors of coins who pay more regard to the selfish desire of having something which no one else possesses, than to the historic or artistic interest which attaches to a coin."
There you have it, the opinion of J. Ross Snowden on all of us. He was treasurer of the U.S. Mint from 1847-1850 and director from 1853-1861.
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Pillar of the Community
United States
1101 Posts |
Quote:
These little technicalities may be important to those collectors of coins who pay more regard to the selfish desire of having something which no one else possesses, than to the historic or artistic interest which attaches to a coin." Wow! He was kind of tough on us "selfish collectors". He probably just woke up on the wrong side of the bed that day.  |
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Replies: 18 / Views: 3,688 |
Posted 08/02/2022 07:32 am
