Wait what? This is ridiculous! Cancelled Coin Craziness

I saw this listing on eBay this morning.
This is just totally wrong! $400.00?



Cancelled aka Waffled coins are NOT mint errors.

Here is a good definition - Collected only as a curiosity, the canceled coins represent real production waste from the mint. The term production waste represents all those coins minted regularly and produced in excessive numbers, or whole batches of coins that have been defective and rejected by quality control.

Some TPG's create neat labels for these. I collect them but I would be stupid to pay $400.00

I paid less than $25.00 for this one..
From my collection..


Post some of your favorite cancelled coins

 

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The slab reads MINT CANCELLED and I’d say how can he have 100% positive feedback?

 

1. You can ASK anything you want. It's not a value until some idjit pays it

2.

Yeah actually, they are. The coins are waffled because they are errors. Albeit you are right that the waffling isn't an error.

 

Yes and no.
They were blanks or batches of minted coins that were rejected by quality control for whatever reason.
I believe that they aren't even cancelled at the US Mints. The company use are supposed to haul them away and destroy them somehow they get into the hands of collectors such as us.

It's like our Sanitation department going through our garbage and selling items they feel can make them a profit.

 

The waffling machine is at the mint, at least at Philly.

https://www.usmint.gov/wordpress/wp-content/uploads/2016/06/Philly_MintTour_VERSION1.pdf

 

I read somewhere when the mint sends these waffled coins out it is okay for them eventually be sold to collectors. I certainly may be wrong, but that is what I read.

 

This is an interesting discussion.

It appears to me that they would have been “rejected” by Quality Control. There are typically 4 criteria that a finished product must meet. There is Design Criteria (what are the fitness for purpose attributes), Manufacturing Criteria (what parameters must be held in order to manufacture with current capabilities), Customer Criteria (does it meet customer expectations) and Management Criteria (in this case, what does the US Mint want released to circulation).

If any of these criteria are not met is the product an “error” or simply an “unacceptable manufacturing variance”? In manufacturing individual parts or even a production run may be classified as not fit for use and be rejected. These same pieces may be described by collectors as errors if they made it to circulation. To me the pieces in question are scrap and become interesting discussion items if they don’t make it to circulation.

 

Here is a cancelled die that I used to own. Just thought this would be interesting info for this topic. They removed the image from the die by just grinding it off (kind of hard to see in the picture; zooming in helps to see it better).

 

Personally, I am not a fan of waffled coins. I have no desire to even own one. They seem like a gimmick, and I'd rather spend my money on other things.

 

I read that the metal is sold back to have it recycled.

 

Some people would put their mother's ashes or teeth in a plastic holder for money, and most likely the TPG's except for ICG would grade them, also for money. IMO

 

Put them in an hour glass and Mom can still participate in family game night.

 

I’ll offer that when restarting a press, it’s not uncommon that a fixed count will be made and, aside from the last few, scrapped. The last few are usually the inspection samples that are given to QC.

For some industries, parts are mutilated (Defense, Automotive) to protect proprietary design. Those parts aren’t calculated as Scrap though, but planned shrinkage (parts were never intended for production use).

 

All I can say is......

 

Lol. 1. That's terrible! 2. It made me laugh! 3. Have a great Memorial Day weekend!

 

I think that's neat - it's a tangible part of coin minting history and the process of making coins. I confess I picked up one of those US Denver Mint surplus Graebener coin mint press feeder fingers that the Moonlight Mint (Daniel Carr) had for sale just because I think it's neat. http://www.moonlightmint.com/dc-coin_feeding_list.htm

 

It seems most coin collectors (at least here) have a great sense of humor. I laughed at the @masterswimmer post as much as the guy in the post was laughing. Maybe I'm so jovial because in about hour I leave for vacation and I have no doctor appts for the entire two weeks.

Waffled coins are not my cup of tea either, but I can understand why some do. Interesting read @Inspector43.

 

Just glad QC doesn’t catch them all

 

I am somewhat baffled by how a US mint worker can find a "reject" coin that is to be sent to be waffled or whatever.... I have watched videos of the US mint at work and the sheer volume is mind blowing. How a worker can pick out a reject is unimaginable.