Certain errors and varieties occurring during the coin minting process can significantly increase a coin’s value, transforming a common piece of currency into a sought-after collectible.
- Planchet errors: These errors occur when the blank metal disk (planchet) used to strike the coin has defects or inconsistencies. Examples include:
– Clipped Planchets: Portions of the coin’s edge are missing due to an improperly cut blank.
– Wrong Planchet/Wrong Metal Errors: A coin is struck on a planchet intended for a different denomination or made of the wrong metal, like the famous 1943 Copper Lincoln Penny which was mistakenly struck on bronze instead of steel.
- Die Errors: These errors stem from problems with the dies used to imprint the coin’s design. Examples include:
– Doubled Dies: A misaligned die or multiple impressions result in a doubled or overlapping effect on the coin’s design. The 1955 Doubled Die Lincoln Cent is a prominent example of this error.
– Die Cracks and Cuds: Breaks or chips in the die create raised lines or blobs on the coin’s surface.
– Missing Mint Marks: The intended mint mark is absent due to a die-setting error or omission, [like the 1982 No P Roosevelt Dime].
- Striking Errors: These occur during the actual striking of the coin. Examples include:
– Off-Center Strikes: The coin is not properly aligned with the die, resulting in a portion of the design being missing or off-center.
– Broadstrikes: Malfunctioning collar dies cause the coin to expand beyond its normal diameter.
– Multiple Strikes: The coin is struck multiple times, creating a layered or distorted image.
– Mule Coins: Two dies intended for different coins are mistakenly used together, [such as the 2000 Sacagawea Dollar with a Washington Quarter reverse].
The value of an error coin depends on several key factors:
- Rarity: The fewer known examples of an error coin, the more valuable it generally becomes.
- Condition: A coin in mint state (uncirculated) with a prominent error will fetch a much higher price than a worn or damaged example.
- Severity/Dramatic Appearance: More noticeable and distinct errors tend to be more highly prized by collectors.
- Popularity: Errors on popular series or those with interesting stories behind them may attract greater demand.
- Authentication and Grading: Having an error coin certified by a reputable third-party grading service like NGC or PCGS enhances its legitimacy and value.
- Inspect your pocket change, coin rolls from banks, or old piggy banks.
- Sort coins by denomination and examine them systematically, using a magnifying glass or loupe for closer inspection.
- Focus on the date, mint mark, inscriptions, and design elements for any anomalies.
- Compare the suspect coin to a known, accurately minted example of the same type to highlight any differences.
- Utilize online resources, such as [error coin price guides] and specialized websites, to identify specific errors and their estimated value.
- Consult with experienced coin dealers or numismatic experts for authentication and appraisal.
Important Note: Distinguish genuine errors from post-mint damage. Nicks, scratches, or alterations that occur after a coin leaves the mint are not considered valuable errors.
Is there a list of coin errors?
From my experience, Labels used to identify specific categories of errors may describe the cause of the error ( die crack, rotated die, clipped planchet ), the appearance of the coin (wavy steps, trails, missing element) or other factors (mule, cud, brockage).
How much is a 1988 $2 coin error worth?
This is not a documented planchet error bit similar planchet error 1988 $2 coins are selling for up to $300 Australian on ebay. You would need to have it professionally graded to ensure the error is documented to sell for the highest price.
How to value an error coin?
Three factors drive error coin valuable: rarity, condition, and demand. A one-off error like the 1943 Bronze Cent checks every box—only a handful exist, and collectors lose their minds over them. Here are some heavy hitters: 1943 Bronze Lincoln Cent: $1.7 million+ at auction.