A lettered-edge blank planchet for a Presidential Dollar has been certified by Professional Coin Grading Service of Newport Beach, Calif.
The error piece was found by Ray and Mary Smith of Fort Collins, Colo., in one of two 25-coin rolls of Washington dollars obtained from a local bank.
?The lettered-edge, blank Presidential Dollar planchet is an extremely unusual and exciting error,? said Ron Guth, PCGS president.
?Although we anticipated its appearance, we never expected one to appear so quickly. Nonetheless, PCGS is thrilled to be able to certify the discovery example, and we congratulate Ray and Mary Smith on their lucky find.?
Less than a week prior to this news, PCGS announced that it would offer a finder?s reward of $10,000 for the first person who submits for verification a genuine Sacagawea dollar with edge lettering intended for the Presidential Dollars. The offer continues, as does a reward offer of $10,000 for the first person to submit a genuine overstruck example with both Sacagawea and Presidential dollar designs on the same coin.
?The U.S. Mint is still making the plain-edged Sacagawea dollars while also striking literally hundreds of millions of the Presidential coins. Sooner or later, we believe a Sacagawea coin will be erroneously made with lettering on the edge, or will be overstruck with the both the Sacagawea and Presidential designs on the same coin,? Guth said. ?We?ll pay $10,000 just to be the first to authenticate them.?
The owners of the blank planchet with edge lettering will receive $2,500 from PCGS for being the first to submit an example.
The Smith?s coin is a type two (raised rim) planchet that did not receive an obverse and reverse design strike or burnishing of the planchet, but did go through the final stage of the Presidential Dollar minting process at the Denver Mint to receive the incuse edge lettering. All intended wording on the lettered-edge is visible: the date, the mintmark and the two mottos IN GOD WE TRUST and E PLURIBUS UNUM.
For more information, contact Professional Coin Grading Service, telephone (800) 447-8848, or e-mail info@PCGS.com.