Im starting to collect error coins...how do I know whats a good price?

[MetalFury]

I'm starting to collect error coins...how do I know what's a good price?

So far I've picked up a misstruck quarter and I just got a misstruck nickel this past weekend. The nickel is WAY misstruck with no date showing...any idea of what something like that might be worth? I also have a clipped dime...all these coins are fairly modern clad coins, nothing old. I'm interested in getting a decent collection of error coins going...don't know why really, they just interest me. Any info. would be a big help...thanks!

 

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[djui5]

Re: I'm starting to collect error coins...how do I know what's a good price?

Error coins are tough. IF they're not in the red book, or the cherry pickers guide, it's a "get what you can for it" kinda deal. You can bet if they're not in either book, and don't seem too "exciting" or "rare", they're probably not worth a lot more than the coins value.

I love errors too! Welcome to the "club"

 

[Jeffro]

Re: I'm starting to collect error coins...how do I know what's a good price?

Ditto what dj said. You can also try Ebay, they have a special section for errors, you can check there to see what something would go for. I picked up a 1913S type 2 Buffalo awile back, in nice shape too, for a steal because it had a planchet flaw. To me, it's worth more than book. Great character to the coin!

 

[waseeker]

Re: I'm starting to collect error coins...how do I know what's a good price?

Start with this group. It will give you links to others who are interested in errors

http://www.conecaonline.org/

 

[Texas Coin Hunter]

Re: I'm starting to collect error coins...how do I know what's a good price?

Hi if your looking at starting a error set buy these 3 books

Breem book
Cherry Pickers #1
Cherry Pickers #2

also refer to this web site for lincoln pennys:

Http://www.coppercoins.com

which is run by Charles Daughtry

 

[VERMONTPACKRAT]

Re: I'm starting to collect error coins...how do I know what's a good price?

Check out this dealer. These are dreamer error coins. Maybe a couple of useful links.

http://www.fredweinberg.com/

 

[MetalFury]

Re: I'm starting to collect error coins...how do I know what's a good price?

Thank you for all the info. and responses...I was checking out all those links. LOTS of great info. on them! Here's a pic. of the misstruck nickel that I picked up for $5 this past weekend...

 

[djui5]

Re: I'm starting to collect error coins...how do I know what's a good price?

Wow, nice nickel!

 

[oldplacesnofinds]

Re: I'm starting to collect error coins...how do I know what's a good price?

I would have paid $5 for it! Errors are very hard to determine price on. It really depends on what someone wants to pay. The more insane the error, the more it will probably be worth. If you are "collecting" errors, spend what you feel that coin is worth to you. If you see a nice error coin for $30 and you like it enough to pay that, don't worry about it. Think of it like going out to dinner. If you see a juicy steak on the menu, are you going to consult the beef stocks to see if it is worth eating? Or, are you going to decide in your head that it is what you want and you do not mind spending the $20 for it. You are becoming a collector, not an investor. Don't spend more than you are comfortable with and once in awhile, offer a little less for a coin. Studying up on the Cherrypickers and Breen book won't hurt either. The Breen will run you around $75 used and the Cherrypickers about $40 each I think. Good luck!

 

[BIG61AL]

Re: I'm starting to collect error coins...how do I know what's a good price?

I love error coins too! It used to be easy to find error coin. The mint made tons of them. But the have computers the run the minting machine now so they are a lot harder to find in your pocket change. Best advise is buy what you think is cool. However are you really going to want another off center coin after lets say your 50th one? Granted I'll never say no to a bargin either. Try to collect the more unusual or less likely to be mass reproduced and have thousands of duplicate errors. I like the one with missing letters or debris on the dies. Then at least I know that only a few coin have this same error.

 

[pinkysbliss]

Re: I'm starting to collect error coins...how do I know what's a good price?

I agree with DJ, I to have started going through ALL of the coins I have found of late and some I have taken...heheh...and let me tell you, walk into a coin shop and show them some thing you think is interesting and watch how fast they turn their nose up at it. If it is NOT a major error or some like others have said in these books.. wellllll.. you might as well give it for change.
BUT! hehe.. unknown to the coin shop guy I can be persistant and have an abundance of time on my hands GL!

"TR"
http://ph.groups.yahoo.com/group/errorcoininformationexchange

think I linked this wrong, but it is through Yahoo and seems to be a great place. They seem to watch the E-bay web site alot for "bad deals"..

 

[scoutjim99]

Re: I'm starting to collect error coins...how do I know what's a good price?

Hi if your looking at starting a error set buy these 3 books

Breem book
Cherry Pickers #1
Cherry Pickers #2

also refer to this web site for lincoln pennys:

Http://www.coppercoins.com

which is run by Charles Daughtry

I agree I know Charles from another coin site( http://www.coincommunity.com/forum/default.asp) that he frequents, and i have one of his books . he will give you staright up info