Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
Coin, Banknote and Medal Collectors's Online Mall Vancouvers #1 Coin and Paper Money Dealer Specializing in Modern Numismatics Royal Estate Auctions - $1 Coin AuctionsRoyal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. 300,000 items to help build your collection! Join Thousands of Coin, Bullion, & Money Collectors








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

Buying Errors

To participate in the forum you must log in or register.
Author Previous TopicReplies: 3 / Views: 985Next Topic  
Valued Member
sharktoy's Avatar
United States
129 Posts
 Posted 11/17/2006  7:01 pm Show Profile   Bookmark this topic Add sharktoy to your friends list Get a Link to this Message Number of Subscribers
How do you know when Buying a error how much it really is worth? I have read books but its the price going now. I would like to know which coins will definitely have a bigger demand later. I would hold onto it for a decade or so. :)
Pillar of the Community
Australia
3831 Posts
 Posted 11/17/2006  7:50 pm  Show Profile   Bookmark this reply Add gxseries to your friends list Get a Link to this Reply
It really depends on what error coins you are looking at and actually also what countries the error coins are from. Some countries have actually higher minting standards. For example an average Mexican error coin wouldn't be as rare as let's say, Korean error coins. There is a big difference in the prices.

As well as, error coins in general should increase in value over time as most error coins are unique.
My partial coin collection http://www.omnicoin.com/collection/gxseries
My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm
Regularly updated at least once a month.
Bedrock of the Community
United States
20753 Posts
 Posted 11/20/2006  08:52 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
All coins are ambiguous with prices. Although there are numerous listings of coin prices, you must remember there is no such thing as a true, absolute, for real price on a coin. Nothing called manufaturer's list prices. Coin price guides are just that. GUIDES. If you notice in the Red Book they have prices for coins, the so called grey sheet, the PCGS listing, etc and all are different. You too could make a coin price guide and put down whatever you want and be just as accurate.
As to error coins, there is even lesser of an evaluation in prices available for the greatest amount of them. Error coins really took off as a separate collecting thing with the famous 1955DD Lincoln Cent. So noticable you could see it instantly. Then the appearance of the 72 same thing. With this at coin shows I now see some dealers with an entire table full of errors and for just about any price they think they can get. With the more famous error coins they can ask some really large amounts of money. For example I jsut went to a coin show yesterday and saw a 55DD for $1,700. I pointed out it was cleaned so the dealer said OK so how about $1.500? I walked away.
More and more books are coming out about error coins. Note forexample the coppercoins.com web site where there are thousands of errors noted for the Lincoln Cent.
Pillar of the Community
coppercoins's Avatar
United States
7629 Posts
 Posted 11/21/2006  4:02 pm  Show Profile   Bookmark this reply Add coppercoins to your friends list Get a Link to this Reply
When speaking of errors and pricing, it's not a good idea to include die varieties into that mix. Doubled dies and repunched mintmarks follow a completely separate market than errors - yet another reason why I am so adimate in pronouncing every chance I get that die varieties and errors are two separate things. They have a separate collector base, a separate knowledge base, and are not mixable to the specialists of such things.

Errors and pricing - probably just about as scattered as the examples of errors in the first place, but rarity is among the top players in their value. That alone not being enough, the ease in which a lay person can tell there's an error present is another. In other words, whether or not the error is obvious.

Those two things together usually generate a value for errors. The obvious ones that are common are worth much less, as are the scarcer ones that take a specialist to point out. Combine the two criterion and you end up with a valuable error.

Generally those with value will also not fit into a normal roll of coins. Laminations, die cracks, clips, rotated dies, and other coins that otherwise fit into a slot made for that denomination are probably naturally more common because they usually were never caught and made it into the bags for circulation. It's the caps, bonded pairs, and severe broadstrikes that are generally worth far more.

Note that I said 'generally' there.
  Previous TopicReplies: 3 / Views: 985Next Topic  

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.25 seconds to rattle this change. Forums