phidelt370

Hello everyone,

I recently came across this coin in a cash register at work. After throwing it in a box for several months, I came across an article in Reader's Digest that suggested it may be worth some money. I have since taken it to a local dealer who showed it to Fred Weinberg last weekend at a coin show. The dealer offered me $200 for the coin which he intended to sell to Fred for his offer of $250. Knowing very little about coins, I figured it might be wise to hang onto it for a little while and do some research of my own before selling. Anyways, the coin is a 2002-D Mississippi state quarter missing the reverse clad layer. In addition there appears to be a filled-die error on the reverse side. This error shows itself somewhat on the obverse side as well with the disappearance of the word United and most of America. Fred Weinberg was not able to identify exactly what may have filled the die, however. I don't know much about coins, but it seems pretty rare that two different errors would occur on the same coin, if in fact that is what this is. If so, does this make this more valuable? The coin has some circulation, as can be seen in the photos, although I don't know enough to grade the degree. The copper side is reddish brown, although the scanned image makes it look a bit more yellowish-brown. I guess my biggest question is should I sell to Fred Weinberg directly for $250 or try my luck with E-bay? Although he seems to be a very reputable dealer, I hate the thought of someone else making money off of my coin. I don't have any history myself as a coin dealer either and I don't know if this would impact my ability to get a good price for it on the internet. Also, I was wondering if it would even be wise of me to sell this coin at this time, or if I should hold onto it for a few years. I know these state quarter errors are very hot right now. Does anyone know if this trend is likely to continue? Finally, would it be worth my while to get the coin graded and certified by one of the major coin grading companies? Anyways, any advice would be appreciated.

Thanks-
Daniel

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Speedy

I looks to be like there are 2 errors on this coin....missing the clad and grease filled die...If you want to sell it...try Mr Weinberg---but one bit of advise....don't go up to him and say now you told this guy that you would give him $250 for it so here it is....he might not offer that $$$ this week...and so your best bet would to be forget about ever hearing he made a offer on this coin...if he offers more...great...if he offers less...you might want to take it--the offer might keep going down.

If you want to get it graded....ANACS....but if your going to sell it to Mr Weinberg ...I would sell it raw.

Speedy

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huntsman53

Speedy,

I am not really sure if the greased filled die error is actually that or something else such as damage! There is definitely a weak strike or something happened to the Obverse but the Reverse of the coin is indented in the same area. It appears that something ran over or pressed down against the Reverse which resulted in the smashing (obliterating) the details on the Obverse. Since Fred Weinberg would still offer $250 for the coin, then it makes me believe that it is some sort of error.


Frank

GDJMSP

There's only one question you need ask yourself - do you want to sell it or keep it ? If you want to sell it - then I would accept the offer from your local dealer. If you sell it direct to Weinberg - then your dealer will find out. And he will also remember it - for a long time. After all - he did you the favor of having it authenticated by an expert. It's up to you of course - but I would return that favor by selling it to him.

And forget about what somebody else will sell it for or how much they will make. That's the business they are in - you have to expect them to make a profit. Otherwise they wouldn't do it.

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phidelt370

Thanks to you guys for the advice. As far as the second error, I do not believe it to be damage. According to the local dealer, Fred Weinberg suggested that it was probably a filled die, although he could not identify what it may have been. It seems to me that two errors on the same coin would be extremely rare and thus more valuable, although I guess that depends on whether or not you could find a collector willing to pay more for it. As far as selling the coin, I am really in no rush. I agree that it would be proper etiquette to sell to the local dealer for his trouble to research it for me, although I do not know enough about it yet to jump at the first offer. I am very curious as well about whether or not this is something that is likely to increase in value over time. If so, then I might just be interested in holding onto it. I do find this to be a very interesting conversation piece, as this is my first experience finding an error coin, so I wouldn't mind holding onto it for a while either, although the money is tempting. I guess I could go either way right now. Just curious if there might be collectors out there willing to pay more than a dealer could offer.

The_Cave_Troll

yes, There might be, but it could take you a long time to find him or her. This looks like "a bird in the hand" to me. I think you are more likely to be disappointed with your results if you go digging in the bush hoping to find more than you already have.

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GDJMSP

There may well be collectors out there willing to pay more than a dealer would. But finding one to actually buy it would be the problem. You see they haven't had the coin in hand to examine - and they likely don't trust their own ability to authenticate the coin even if they did. So unless you get the coin slabbed by a reputable company - most collectors wouldn't touch it.

As for the two errors - the filled die part adds no value. For example - if the coin was clad on both sides as a normal coin is but had the weak strike from the filled die - you would be lucky if you could sell it for $5. Filled die coins are extremely common. The only part that is creating any value is the missing clad layer.

Now - as to what might happen in the future. Anything could happen - it could go up in value - but it could just as easily go down. 5, even 3 years ago, these missing clad coins sold for much less - a fraction of what they sell for today. But today they are popular - it is a fad. And like many fads - sometimes they fade.

I'm not suggesting you decide either way. I'm merely trying to present you with as much information as I know so that you can make a better informed decision of your own

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huntsman53

phildelt370,

State Quarter Errors are hot commodities at this time and probably will be for some time! It is hard to determine what someone would pay for the coin since there is very little information available on these except on eBay. I have seen some State Quarters that were missing the entire cladding on one side, sell for $20 or less while others have sold for $100 or more. A State Quarter that has only part of the clad missing on one side and is somewhat unique, will sell for much higher prices. To make a point, I found a 1999-P Connecticut State Quarter that was in AU condition and was missing about two-thirds of the cladding on the Obverse. The uniqueness of this coin was not in the missing cladding but the cladding that was still on the coin. The cladding that was still on the coin was on the left third and the dividing line (clad line) dropped from the rim around the second "T" in STATES down along Washington's forehead then cut in and out in a V around his' eye then dropped Southwest across his' nose then dropped South across LIBERTY to around the "U" in QUARTER to the rim. The portion that cut in and out around Washington's eye then Southwest across his nose, made Washington look like the "Phantom of the Opera". I noted this in the description of the coin on my Auction Listing when I placed it up for auction. Well, the coin sold for $305 which was more than I ever dreamed of getting for the coin and the Winning Bidder/Buyer was very well pleased with the purchase when he received it. You can view the coin by searching my (huntsman532ukm) completed auctions on eBay! Needless to say, I am on the lookout and searching every quarter I come across for more State Quarters with part of the cladding missing!

If you were to decide to sell the coin, I would suggest trying to find out what the other error (struck through grease or other) is, if in fact it is an error! You can then decide whether to sell the coin to the Dealer, sell it on eBay or elsewhere. Unless the other error is something that would subtantially raise the value of the coin, I would say that the Dealer may be offering more than you could get for it on eBay and they get a listing fee to list it and a final price fee when it sells. It would be great if you could get the $250 that Fred Weinberg offered!


Good luck...Frank

Speedy

I 100% agree with you..I think if it was damage Mr. Weinberg would have said something.

Speedy

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phidelt370

would anyone be able to tell me approximately what kind of grading this coin would get based on the photos. I might consider getting it graded, but would just like to have an approximation before I do so in order to compare it with recent sales on Ebay. I know very little about how to judge the degree of circulation. Thanks.

GDJMSP

With the weak strike and missing detail is is very hard, if not impossible, to grade a coin like that without seeing it in person.

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