LEARN TO SPOT ERROR COINS

We all know how it feels to get home after a long day, only to kick off your shoes and empty your pockets before plopping down on the couch to enjoy a cold one while catching the second half of the evening news. But did you realize that something you may be doing during this relatively routine ritual may be costing you hundreds, if not thousands, of dollars? What if changing your habits and spending just a couple minutes looking for something out of the ordinary had the potential to get you out of debt or fund your next vacation?

A common error is a missing clad layer on one side of a coin, shown here on a U.S. Quarter

This may sound too good to be true, but what if we were to also tell you that this process could actually be enjoyable? Now that we have your attention, let’s get back to what you did wrong so you can correct that issue and give yourself an opportunity to find something already in your possession which could be worth so much more than you expect.

Those items we are talking about are coins with errors, and those coins can be worth quite a lot more than the face value stamped on them. Amateur coin collectors may think that a coin with an error may not be worth much, but typically the opposite is true. Because coins with errors are a lot less common than correctly struck coins, they are more in demand and thus the price is driven up due to their scarcity and collectability.

These errors are made by the mint during the minting process, and have slipped past the U.S. Mint’s rigorous quality control checks and made it into circulation. There are many parts of the minting process that can cause errors including defective planchets and dies or mistakes during the process.

Numismatists can attest to the fact that there are a diverse array of potential minting errors that can occur, with some being more common than others.

• Double Struck Coins – Coins that are double struck due to mechanical doubling aren’t typically worth as much as some other error coins. This happens when coins are not properly ejected from the striking chamber after they are struck, and the die strikes them a second time. These strikes can happen on or off center and have even happened three or more times on the same coin. One of the most popular examples is the 1955 doubled die obverse Lincoln penny which can go for as much as $1,000 in well-worn condition.
• Off-Center Coins – These are some of the easiest error coins to spot, oftentimes having one blank side and the other side missing half or more of the design. This happens when the punch is not in the center of the coin and is somewhat rare.
• Missing Clad Layer Coins – Most modern coins are made up of layers of different metals which are called clads. These layers can peel, fold or separate in the minting process, meaning sometimes a coin will end up with a missing layer. One side of the coin will be copper while the other side will be normal.

Buying and Selling Coins in Seattle

If you do find coins with errors and want to sell them or find out how much they might be worth, bring them into one of Bellevue Rare Coins’ four locations in Bellevue, Lynwood, West Seattle or Issaquah. We also sell all types of coins including silver and gold American Eagles, foreign coins and error coins. You can even send us a message with a picture of your coin if you have a specific question.

The next time you get home and empty out your pockets, take a couple minutes to examine your coins before tossing them in a jar and going on with your day, it could really pay off in the long run.