Expert: PAPAJACK - 5/23/2007

Question
QUESTION: got "strike it rich'says 92 close is the good 1.97-2000 A M with aspace is the best.says all 94s and up AM should touch. What about the poor 93 cant find anything about it in either of my 2 books(new hobby)also have 2008 red book UScoin

ANSWER: Hello Cindy,          
Welcome to the hobby !

If you are referring to the letters A and M in the word AMERICA on the modern One Cent coin. And "What about the poor 93 cant find anything about"  how the A and M may be spaced on the 1993 cent.

These are a variety more than an error coin.
The dies made to produce the "Proof" coins have always been made with great care and have had a space between these two letters. Proof dies also strike the coin at least 2 times, this greatly improves the detail and sharpness of the image and lettering on the coin.  
The production dies are not always as perfect as the proof dies are. Also the high-speed production of the cent hampers how well the coins are struck, the presses turn out more than 700 coins a minute.

Now if a proof die is made but some how 'not up to standard' they will release it to the high production department instead of throwing it away. The coins produced will have the characteristics of the proof coin (such as the A and M having a space) but not be as sharp due to the speed and pressure the machine uses for circulating coins.
I am sure you could find some 1993 cents with the space between the letters but as I said it is only a variety not an ERROR-COIN. Its value in not more than one with touching letters in the same grade.

There are volumes on each of the coins made by people who have studied all the tools that made the dies that produce the coin, you just have not yet read about the 1993 ect.. Get used to seeing the coins and how they should look. Don't worry about too many of the quirks that have happened recently during production.

If I haven’t answered you question just write me again.

Please remember to rate this answer at the bottom of this page. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck

PapaJack

---------- FOLLOW-UP ----------

QUESTION: Hi PapaJack,I was in a car acdt.and bed bound for quite sometime..(OK now just broke)Out of boredom started the looking through every penny bank in the house.I have found some very interesting items.What Would you recommend ?On-line auction sites ?Should i have them graded and verified?Or just go look "It is what it is,I think?" Thank you, Cindy W.

Answer
Hello again Cindy,          

On-Line auctions are fine for selling but there are fees involved. You should know about the item you have to sell as to arrive at a fair sale price and not waste you money posting it on the web.  
Coins are valued on a scale from 1 to 70. And on how rare a coin is. With no or little experience it is sometimes easier letting another collector look at them, and even most coin shops will help for free.
Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale. So remember a grade of Good is 4 out of a possible 70 is a low grade.
If the coins are in high grade you will make more selling them to a collector (online or otherwise) and if they are mint state never circulated you will get multiples of the face value, but it must be a coin someone wants.  

"graded and verified"
Do not bother certifying a coin that is worth less than say $40 you may never recover the fees. Look on a site like eBay to search for a coin you have to sell and see if the past prices are consistently what you think the value of your coin should be.
Without seeing a coin in person no one can arrive at a value this is why the Certified Coins sell well on-line.

It may be a good idea to pick your single best coin, one you think may sell well, and take it to a coin shop in your area for their opinion. Any coin shop will help for free on one or two pieces. Also tell them why you think your coin is unusual.  (Wide AM, Double die etc.)

Please remember to rate this answer at the bottom of this page. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck

PapaJack