Expert: PAPAJACK - 6/16/2007

Question
I read the answer to the same question on another site where the expert said not to discard the coid but did not say how to determine if it has any value. My coin has been circulated and appears to be the size and weight of other pennies. What steps should I take to determine if the coin has value?

Answer
Hello Ken,                            

I am not an expert on error coins, but here is what I can tell you.  Error collecting is a branch outside of coins collecting. There is no fixed pricing on these error coins published and each one would have to be seen to be evaluated.

As information for any actual types of error coins "the Greater the error the Greater The Value" is the general rule, and it does have to be a Mint Error.

For information on true error coins look for the book "The ERROR COIN ENCYCLOPEDIA" by Arnold Margolis (not sure of the spelling). It goes into detail about how errors have occurred at the mint.  Your Library may have a copy or it is inexpensive to buy.

It is possible it was defaced somehow after leaving the mint.  When a coin is struck at the mint, the obverse and reverse dies strike simultaneously with the coin blank between them, making it virtually impossible for the coin to be struck one-sided.

If there was 2 blanks (on top of each other) fed into the press the collar should not hold them both on center causing them both to be improperly struck but possibly smooth on one side. But the punched side would not look normal, and usually off center.

But I have been told this could happen at the mint only if the two coin blanks entered into the collar that holds them in the press directly on top of one another. when this happens there is often not a full strike on one of the coins.  
Each coin would then have only one side struck and the other blank.  They sell from 1 to 5 dollars for the cent.
This is an error that is not caused by a die but operator error and therefore not very valuable.

The Item would have to be seen to be accurately appraised. A photograph would not really help with this. If you write back with the general location (nearest large cities) and telephone area code or codes and some zip codes in your area, I can direct you to an AMERICAN NUMISMATIC ASSOCIATION MEMBER/DEALER near there. They are ethical and trustworthy.

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Thank You and Good Luck

PapaJack