Gold Mint Errors

Was still waiting to here from a numismatist on the rarity of the gold error dollar coin I posted pictures of.I was told that there are far less mint errors on gold because of higher quality control.Im just curious if the value increased much because of the error or does it stay close to its grade determined value.And does anyone here know its estimate value?

 

Log in or Sign up to hide this ad.

I have a $5 gold eagle certified by NGC as a struck thru error. A piece of debree in the die that struck the coin, I don't know the value of my coin either.

 

Silver ec-c thats cool mabey a skilled numismatist in this area will respond to both these posts thanks for your input

 

A struck through error is very common and does not usually result in much if any premium unless it is really extreme. I can't comment much on the gold dollar error as I have not seen it. But I would think that frequently errors on gold coins hurt their value just as they do on key date coins and for the same reasons. The collector of gold coins typically wants his coins to be a perfect as possible so the error is seen as a negative feature which reduces the desirability. And for the collector of error coins, ubless he is specifically looking for gold coin errors he will be able to find errors of the same type on silver or copper coins without having to pay the high premium that the metal value of the coin. So it winds up being a white elephant that no one really wants and the value falls considerably.

 

Thanks for response Conder101 I understand completely that anyone looking at a gold coin wants it as perfect as possible.The part that in trigs me is that you have not seen it thats what I am wandering is if it is rare to find a error on a gold coin because of the typically higher quality control due to metal type.I'm not trying to make my coin worth more than what it is just trying to determine the rarity as determined error for metal type can you give me more feedback on this?

 

Some mint errors are gold are valuable, but other lower the value of the coin. For example, a planchet lamination has the potential to lower the value because some collectors consider it an imperfection, and there is actually less gold in the coin. Also, struck through grease can lower the value because the details are significantly impaired.

 

Thanks Robbudo

 

I just saw in the original post you said you posted pictures of the coin - i'd love to take a look at the pictures, where are they?

Just to clarify, what you said about the rarity of errors (of any kind) on gold coins is correct. They are indeed very rare, partially due to high quality control as you noted but also due to very low mintage rates. But, rarity doesn't always translate to value.

 

thats cool thanks for response if you look in error posts I titled it my pictures

 

Clashed dies - neat. It certainly doesn't decrease the value of your coin, but it doesn't increase it much either. From http://www.usgoldcoininvestments.com/gold_dollars.html, "Excessively clashed dies are also very common to the issue.", specifically referring to your series of $1 gold coins.

You can find one, almost identical to yours, at http://www.johnnyg.westhost.com/coins-p1-gold.html. They're selling it for $400 in AU-55, but I bet it's been on the market awhile.

With all that said, people still do like errors on coins, especially gold coins. I'm guessing you could get 15% more than you would get if it didn't have the error on it. This is just an educated guess by an avid error collector (who doesn't collect gold errors).

 

That is really cool robbudo great info which error coins do you prefer to collect I just recently had that gold dollar graded I knew it was an error but I also just recently purchased 2 vam error coins

 

Thanks, I'm trying to build a full date collection of Indian cents with errors on them.

http://s904.photobucket.com/albums/ac245/RobsCoins/Indian Cent Errors/

And I collect Indian cents with rotated dies of more than 90 degrees

http://s904.photobucket.com/albums/ac245/RobsCoins/Indian Cents with Rotated Dies/

 

Wow are those all yours im really impressed

 

Thanks - yup, they're all mine. Except I've actually got one to delete and then add pictures of another one. The only close-to-impossible one I have left is the 1909-S. I haven't actually seen an error on one of those so I'm not sure if I'll ever get one. The early 1870's will be hard to find with an error in a problem-free grade, but they come on the market once every 2 or 3 years. I reliably get one or two a year. I did go through a 2 year stretch before the economy tanked where I didn't see a single one to add to my collection, or the ones I was seeing were ridiculously expensive. In the past year, I've noticed people putting some real gems up for sale and I keep seeing ones I need every month or two at very reasonable prices. It's hurting my pocket but I was still saving up for them when they weren't coming on the market so it's all good. Recessions are good times to buy and bad times to sell ...

 

thats awesome im finding some really good deals right now also

 

Isn't the gold ich struck on a quarter eagle the biggie?
Hmmh I'll have to find this necklace again, it had quite an interesting IHC