In the Numismatist I keep seeing ads for "waffled coins" that are a part of the "Philadelphia waffle hoard" Can someone tell me what this is all about? Thanks for your help.
I don't want to waste your time stating something I'm not really familiar with. I now that it is more of a gimik than anything. Worthless, junk, coins destroyed by the U.S. mint. Why people spend tons on them I will never know or even the fact that grading co.'s will grade 'em.
I agree, the waffle coins are lame.not even a legitimate error, just machine mangled quarters. Why people have them certified is beyond me too.
They are worth that much money because some people are willing to pay it. Proves that people will buy anything, lol. I guess technically you could call it post-strike mint damage, although since the mint did it intentionally it doesn't count as an error. In fact it's done specifically to make sure error coins get destroyed and not released into circulation. Personally I don't have a fondness to collect scrap metal, but to each his own... I'm not even a very huge fan of legitimate errors for that matter, and only have 3 in my collection (a blank cent planchet, off center Lincoln cent, and a capped bust half with a lettered edge error, although for the half it's not an uncommon error really). I never got why people get especially excited about collecting the Mint's mistakes, lol, I guess they have a certain novelty but I myself would rather spend money on coins they got right than to pay a significant premium for the Mint's goof-ups. I certainly wouldn't pay for a piece of metal which isn't even an error, certified or not (what were the TPG's thiniking certfying this stuff, anyway?!).
I've seen them in person and if I ever find one for under $50 I think I would buy it..... Sure they are pretty much junk but its really neat---of ya'll never seen one in person wait till you do Speedy
I would like to get one eventually just as an example of a process the mint engages in as part of their overall processes. I would like a piece of the blanked strip for the same reason. Could be an interesting exhibit, raw metal (pieces of metal), rolled into strip and blanks cut from it (Blanked strip and a few blanks), Blanks converted to planchets (planchets with their upset edges), and struck into coins (some struck coins, maybe a die or two). Some things can go wrong (example of a few error coins such as clips, off center, double struck), and how the mint "cancels" the errors they catch before sending them back to the metal processors for recycling (a couple of waffled pieces). While most collectors focus just on one thing the mints do, strike coins. There is much more to the whole process and some of us are interested in every aspect of it.
Maybe $10,if i'm feeling flush,Nah forget it,i could get a nice BU common date mercury for the same money.
Hmmmm, ya figure in fifty years people will be worrying about getting cleaned waffled coins? Or fawning over a particularly nicely toned specimen? I can see the adds on ebay now: Only 400 Hawaii quarters waffled. Get yours now graded WF70 by S.G.S. Beware the Chinese fakes. heheheh
I can't see myself getting one unless it was real cheap. Speedy, in the ad for the $50 waffled certs, they also have ones for 40. They are "certified" by something called Global Certification Services, Inc. It sounds fishy, but if a coin is waffled its waffled, I suppose. Anyway, you said if you could find one for less than 50 you'd be interested. You can order them at www.NumismaticEnterprises.com.
I don't get how these "coins" are gradeable... I can see putting them in a slab as authentic, but shouldn't they be ungradeable as "damaged"? If a waffled coin isn't damaged, what is, lol?
Global is a grading service that has been around since Nov of 2001. It was founded by two respected members of the numismatic community. Most of their products have been done for firms as promotional items, such as these waffled coins. It is rather hard to locate an actual graded coin in a Global slab. Why is it that people think that only coins can be graded? What are coins but pieces of metal that have been crushed between heavy pieces of steel. What are waffled coins but pieces of metal that have been crushed between heavy pieces of steell. They have high points and their own version of luster from the deformation of the metal. After waffling they can aquire scratches, damage etc. So why can't they be graded?
Sure, but don't most of those come from circulation? Unless someone intentionally scratches the coin, I don't see how they aren't all BU.
Why are there 11 grades of MS on coins? Say you have coins from mint sets they never circulated. Why do we need multiple grades on those? Did someone intentioally scratch them? Actually I agree with you I don't see much need for more than one maybe two grades o the waffled coins. But it wasn't that long ago we only had two grades of uncirculated too. The mint sells reject coins to the metal reyclers as scrap. The problem was that during shipping the coins were sitill legal coins, so the mint had to provide arned guards and a security convoy to get them to the recycler lest they be stolen. and they had to stay with the oins until they were melted down. After they got the waffler they could run the coins through it to cancel them so they could not be used. Then they could be shipped as scrap metal with no guards needed and the mint no longer cared what the recycler did with them once they were delivered. Well one enterprising promoter purchased a bunch of the waffled scrap from the recyler. If you could find the recyler you could do the same yourself. You just might have to take several tons at a time. They used to do dies the same way. One of the mijor error dealers has said that he has SEVERAL 55 gall drums of dies from the scrapper in his storage area.
