Another Error that Must have had Help

Anyone see this Frankenstein's monster? https://coins.ha.com/itm/errors/201...33978&type=collectora-1-coin--news--tem010317

I'm betting it had some help. And I'm betting someone will pay an exorbitant amount for it. I don't get it.

What do you wager it'll go for? I'm gonna say $75k. Get your guesses in now!

 

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I cannot imagine quality control so slipshod as to lose track of individual planchets whose intrinsic value exceeds $1000 each that way. For that matter, an ounce of gold is a bit larger chunk of metal than a nail - how does one get it out of the building unless the fix is in? The only thing I can think of is getting the coin into a specific order for a certain customer; even if it's part of a bulk order all they have to do then is wave an XRF analyzer over them until they find the good one.

I'm thinking $45k will own it.

 

Why would you say it had help? The planchets are the same size and visually almost identical. They only differ in composition.

Now, if it ended up in a box of gold Buffaloes, then maybe I could see that.

 

I'll bet just over a 100k

I could, but it never had to actually be lost there very well could be a matching buffalo out there which would have kept the counts right for both. It's not exactly an error that the majority of people will notice.

 

I wonder how it was discovered. Perhaps it was made to order. I don't think it could be detected with human senses. Is it likely that someone is subjecting thousands of coins to fine dimensioning, weighing or X-ray analysis on the off-chance of a wrong planchet?

Cal

 

Best guess, dumb luck that it ended up in the hands of someone that thoroughly checks their coins.

 

My guess is either that or it got sold to a coin dealer or pawn shop who did XRF on it as a bullion buy.

It might be visually possible to distinguish it if you had a normal one next to it, but I kinda doubt it.

 

Well weighing is probably how it was identified at first. A gold buffalo is 24K while the AGE is only 22K and they weigh a little bit more as a result.

AGE 1 oz version
33.931 grams


Gold Buffalo
33.10 grams

No idea how much it's going to sell for but I'd be willing to bet that there is a few more of these errors out there if this one occurred and likely a few 22k Buffalo's roaming around out there as well.

 

Back when I collected ancient Greek coins, I would measure dimensions, weigh them, and determine specific gravity. Never have done it on US coins. Maybe I should start.

Cal

 

That would be an interesting ethical dilemma. Would most dealers or pawn shop owners tell the customer what they really have or just offer them a good price based on correct planchet?

Cal

 

I agree with this. It also makes it even more shocking to me that anyone would pay five figures for an error that you would presumably need a scale to be able to appreciate.

 

That's my thoughts as well. I'm not sure I would even know with that in one hand and a normal one in the other. This is one error that does absolutely nothing for me.

If you ever find something like that it would be well worth the time. Whoever did it is going to get a very nice late Christmas present at that sale.

 

Jeez if I had that much $$ to burn I would buy a 1907 wire rim $20 instead of an error that is not visible to the naked eye.

 

I suspect this one may have been helped along as the OP suggested. Then again, maybe not.

Either way, I don't see the appeal of paying five figures to own it. Then again, that might be just me.

 

Then again people that can buy five figure coins likely don't have to worry about money at all so there is always that aspect

 

" The greater fool theory states that the price of an object is determined not by its intrinsic value but rather by irrational beliefs and expectations of market participants."

 

The real question is: Why do these people not show up when I am auctioning off coins?

 

I absolutely, completely, and 100% guarantee that this piece was intentionally made. Take a look at this video about the production of the silver eagles - the gold eagles are going to be even more stringently controlled:

 

My guess is that it got sold to a dealer by the person who made it, or their accomplice outside the mint.

 

My thinking is, how could they implement a plan which had any chance of allowing the two entirely different planchet compositions to intermingle? It was the ninth year of Buffalo mintage, and they've been minting the Gold Eagles since 1986. A process error would have shown up long since.

Only possible way, to my mind.