Error Dollar in Heritage Auction
With the U.S. MintState Quarter program and again with the Presidential Dollar program there has been a great flurry of activity focused at detecting and capitalizing on error coins. Off metal strikes, missing legends, plain edges and extra corn husks, there are seemingly lots of them out there waiting for collectors to uncover in rolls, bags and pocket change.
Several books and websites can help you learn more about error and variety coins. KP published one last year, titled Strike It Rich - Eith Pocket Change by Brian Allen and Ken Potter. I really enjoyed this book and from what I'm told it sold gangbusters, so others must be finding it useful as well. Allen and Potter provided excellent close up images, clear explanations of differences and terms, plus many cross references to other books. Web based sources are noted as well for specialty clubs like Combined Organization of Numismatic Error Collectors of America known as CONECA - whose publication is nmaed Errorscope and the National Collectors Association of Die Doubling known as NCADD - whose publication is called The Hubb.
Some error and variety coins have relatively little value, but many are quite expensive. Recently at least one rare 1969S doubled die Linclon cent was found by a collector in a roll of 1969S cents. The coin was full red and graded MS 64 by PCGS the Professional Coin Grading Service, which makes it one of the finest know examples. Check out this great photo of the coin, provided by Ken Potter. An example found and sold in 2007 brought about $85,000 and this latest one brought about $125,000 at auction!
Some of the State Quarter errors have sold in the hundreds, as have the edge varieties of the Presidential dollars. In fact, Heritage Auctions has a plain edge John Adams dollar closing in their Sunday night Internet Auction which currently is bid at $425 and has at least four active bidders and five trackers watching the lot.
There is certainly interest in error coins and the opportunity is there for wonderful finds if collectors obtain a bit of knowledge and keep a keen eye out for the unusual.