I was wondering what the opions of cancelled "waffled" state quarters are, is this alot of hype, for not so interesting coins, I know where i can pick up a dozen at the right price for me, but am debating wheather or not i really like this "error". In my opionion its not really an error, or the "error" can't be seen, the coins where deliberately deformed. undecided JDD
Error pieces cancelled by the mint. Something like this ... The machine that does this kind of cancelling looks like a big waffle iron hence the name. Christian
It is NOT an error...it is damage no matter how you look at it and its worthless...give it a year or two and I would bet that the HYPE of them will go down and you will be able to get one cheap....I would even think about getting one if they go down--- Speedy
anyone see this video http://www.wafflecoins.com/video/bigmovie.html, its a look inside the mint. Speedy I think you maybe correct on this.
The NGC slabs I saw were selling for $40 - $50 plus, I just can't see what the interest is, next people are going to be selling train track coins.
Thanks for the link, the movie was interesting. I guess I don't understand why they would waste time and money cancelling coins when they could go straight to recycling and be melted? Maybe they don't have anything better to do....Do taxpayers fund the minting process, or are they self-sufficient these days?
They do it because mint employees were taking error coins that had been pulled from the batches to be released for circulation, smuggling them out of the mint and selling them on the open market for huge profits. The mint HATES errors - or anything else that might be considered as a rarity. So - they decided that all errors would be pulled and sent to the waffle machine to prevent the above from happening. So far - it has worked like a charm. As for taxpayers funding the mint - the mint is one of only two US Govt. agencies that actually operates at a profit. It doesn't cost us taxpayers one red cent
Yes they do - but when they started selling them it was announced that it would only be for this year alone. After that - nada. Now - whether they stick to that is the question
Yes, these pieces are "damaged" on purpose - but why does the US Mint do that? Because they are error pieces. In much of Europe the same thing was done with millions of pre-euro coins a few years ago. These pieces had no flaw but were simply "cancelled" before selling them as scrap metal. With the US waffle coins that is different. (Which is also why cancelled pieces are much less expensive here. Guess I would not pay $30 or so for such a piece, but €1 is not quite that bad ...) Christian
I would have to disagree with one point...they don't waffle ONLY error coins...at least the ones I have seen in person didn't have any BIG errors....like off center or double struck....they looked to be like a normal coin that was waffled... Speedy
well, you can waffle it in your own basement if you do it right. i melted down and reshaped a coin into a golf tee for my dad last year.. isopropyl alcohol + bunsen burner= nice and hot coin. so idk, you could probably waffle them yourself. looks like a hoax to me..
