Bad Investment ? 2004 Wisconsin Extra leaf Error Coins

Discussion in 'Error Coins' started by SensibleSal66, Oct 21, 2020.

  1. Anntron

    Anntron Member

    Nice set.
    I too purchased one example of each MS 65 in PCGS holders for @$200.00 a few years ago. I did not buy them as an investment, I bought them because of the backstory. I was intrigued that a low-level die room worker had the “hutzpah” to alter/improve the design created by a Master engraver. The fact that he/she did it TWICE is amazing. I think the initial mystery behind the coins' origins was the inspiration for the interest and high prices. When most experts eventually settled on a consensus opinion that the coin was created by an individual who intentionally altered two Working Dies to create the “High” and “Low” leaf varieties, they concluded the deed must have been done at the Denver Mint. Because these coins originated from intentionally altered Working Dies, they are classified as “subtypes” and are not true errors. However, the Mint never officially owned up to the entire "altered dies" theory and gave a rather weak explanation of their origin. I do vaguely recall that “someone” was terminated because of the event. Since the Mint would never admit that an unauthorized individual was able to alter a Working Die that resulted in a subtype variety being released into general circulation, the value of these coins slowly declined. However, to me, these coins are a testament to the power of an individual to have a significant historical impact with just the idea to do something harmless and intriguingly unique. He/she must have known this from the onset and had the courage to carry the plan through to the end whatever the consequences. Bravo! I own these coins because of the creator’s convictions, not the Mint’s lack of quality control. Keep the set, in my opinion, it is far more valuable than the money it may be worth.
     
    Last edited: Oct 21, 2020
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    Thank you for that lesson. I truly learned a lot more than I thought . It was actually given this in repayment for helping someone out . That's what the receipt says . I'll hold on to them and cherish the History of their making . Thanks again . Sal aka Big Sal
     
    CoinJockey73 likes this.
  4. Mountain Man

    Mountain Man Supporter! Supporter

    Which is it Big Sal?
     
  5. Michael K

    Michael K Well-Known Member

    The clandestine re-engravings is a fun numismatic story.
    But how many coins were produced before it was discovered, or the dies were retired? I am going to assume hundreds of thousands of coins have the extra leaf high or low.
     
  6. whopper64

    whopper64 Well-Known Member

    This reminds me of the current "craze" concerning the 2019 and 2020 "W" quarters. After several months, they sell for a fraction of the first finds. And of course PCGS and NGC are ridiculously adding fuel to the fire with their "early finds" slabbing. What a ripoff! I am content to wait for several months and then purchase an inexpensive "W" to add to my regular ATB collection. Also, I agree with others in that coin collecting should be for enjoyment and history only, certainly not for investment purposes.
     
    johnyb and jamor1960 like this.
  7. jamor1960

    jamor1960 The More I learn, the Less I know....

    The 90's were notorious for industries creating "collectibles" (baseball cards and comic books come to mind along with the Beanie Babies) and then producing so many that everyone who thought they were going to get rich from collecting them wound up with a whole bunch of crap that no one wants to buy.
     
    VistaCruiser69 likes this.
  8. jamor1960

    jamor1960 The More I learn, the Less I know....

    Did you see the "W" Quarter, Pawn Stars episode? They were doing roll searches and were going to charge $100 each for them!!! Pure hilarity!!
     
  9. VistaCruiser69

    VistaCruiser69 Well-Known Member

    I never heard of the "W" quarters worth anything but face value. Over the last 12 months or so, I've come across a total of three of them in condition right out of the brand new roll. I only saved them because of the challenge of actually coming across them in everyday change. Really isn't that frequent at all. $100 a quarter? Yeah, that's nuts.
     
  10. jamor1960

    jamor1960 The More I learn, the Less I know....

    I never saw anything that said they actually got that, but that's what they were trying to say they were worth. I laughed the whole time they were talking about it!
     
Draft saved Draft deleted

Share This Page