Coin Collection – Identifying Error Coins
To err is human. To err in numismatics means someone let a defective coin get out of the mint. A defective coin is known as an error coin, and this area of collecting is becoming increasingly popular. The U.S. Mint has released some pretty unusual and previously unknown error types in the past year or two.
Error coins come in a wide variety of types, ranging from subtle mistakes to gross, obvious errors. Prices vary just as wildly, with some errors costing only a few dollars each, while others cost over $100,000.
Here are a few of the more dramatic and obvious errors, along with explanations of how they came about:
Off-center struck coins: Sometimes blanks (disks of metal with upset edges that are stamped to make coins) get stuck and don’t feed properly into the coining machine. For example, if a blank is half-in and half-out of position when the die comes down, the design will appear on only half the coin. The other half remains blank. This type of error is known as an off-center strike. Off-center strikes are common but often dramatic.
Double- and multiple-struck coins: Sometimes coins get stuck in the coining press and get stamped over and over. Double strikes are fairly common but any coin struck more than twice is rare.
Mated pairs: Mated pairs occur when one coin overlaps another in the coin press and receives part of the design from the second coin. Mated pairs fit together perfectly, almost like two pieces of a locket. Because they are two separate coins and they usually get separated after they’re struck, finding a mated pair is like finding a needle in a haystack. Mated pairs are among the most dramatic and desirable errors you can find if you collect errors.
Brockages: In essence, a brockage is a true double-sided coin, except that one side appears normal, but the other side is a mirror image that is pressed into the coin. This happens when a blank slips over a coin that has already been struck; then this pair receives another strike from the dies. The blank ends up being the brockage and the other coin just ends up with a messed-up front.
Capped die: A capped die occurs when a blank gets stuck on one of the dies. As the blank is hammered repeatedly into other coins, the metal flows around the die and forms a cup-shaped cap. The longer the blank stays attached to the die, the more dramatic and deeper the cap becomes.
Wrong metal/wrong planchet errors: You may have heard of the 1943 bronze cent in the news media. If it doesn’t ring a bell, here’s the scoop: In 1943, cents were made out of zinc-coated steel to preserve copper for the fighting during World War II. A few leftover bronze blanks got stamped with the 1943 dies, thereby creating one of the most famous of all error coins. Some people think the 1943 bronze cent is worth $500,000, when, in fact, they usually sell for $35,000 to $125,000, depending on the condition.
Mules: A mule occurs when two mismatched dies are placed together accidentally. Mules are generally very rare. Recently the U.S. Mint accidentally combined the obverse of a Washington-head 50 State Quarter with the reverse of the new Sacagawea golden dollar. This mistake caught the attention of the news media, and people began searching their pocket change for one of these valuable rarities. Have you looked in your pocket yet?
Struck fragment: Sometimes a small fragment of metal gets fed into the coining press and receives an impression from the dies. Ron recalls seeing a picture of a nail with an impression of a Lincoln cent smack-dab in the middle, which makes us think that some of these errors are deliberate instead of accidental.
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