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Thread: Are most errors or varieties over priced?

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  1. #1
    mdj
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    Are most errors or varieties over priced?

    I like the cool looking ones, the double dies and the 1943-44 off metal ones, just these obvious kinds. But the close or far am's or something that has to be magnified to the nth degree, why? I have both 1970 s large date and small date cents because my 7070 had a slot for both, but show it to a non collector and try to explain the difference. Can these types coins hold their value in the long term?
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  2. #2

    Feb 2006
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    Errors and varieties hold value only when collectors are willing to pay for them. A non-collector, by definition, does not care about errors and varieties and is unwilling to pay any premium.

    As to holding value with collectors, markets for coins, that is demand from collectors, ebbs and flows with what people want right now. Something in high demand now may be in low demand next year, commanding a lower price. The converse can also be true. A coin in low demand today could, for a variety of reasons, be in high demand tomorrow, bringing a higher price to the seller.

    Time for more coffee.

  3. #3
    mdj
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    A baseball card collector wouldn't buy a damaged card just because it happened at the manufacturer. Let's say an off center card for example. Let alone pay a premium for it! They want pristine cards. The error craze in coins is crazy! Or perhaps errors will be the next big thing in card collecting?!?
    Last edited by mdj; Jul 05, 2019 at 06:28 PM.
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  4. #4
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    Two different animals there. Coin folks will foot the bill for known, uncommon and dramatic errors. A Lincoln cent, for instance, that is slightly off center, we throw back into circulation. A 1955 DDO Lincoln cent can bring hundreds if not thousands depending on the grade. It's not so much of what the buyer will bear, but the uniqueness of the item and rariety. I had this saying once, "once good, always good, once junk always junk".
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  5. #5
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    Wood Butcher

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    Remember that beauty is in the eye of the beholder. People collect what they find and tend to evolve as collectors.
    i'm sure errors use to be considered damaged coins and old time collectors only wanted the best of well struck perfect examples for their collections.

    I wonder what was popular other than date/grade, proof and pattern coins at the turn of the 1900's?

  6. #6
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    Quote Originally Posted by PetesPockets55 View Post
    Remember that beauty is in the eye of the beholder. People collect what they find and tend to evolve as collectors.
    i'm sure errors use to be considered damaged coins and old time collectors only wanted the best of well struck perfect examples for their collections.

    I wonder what was popular other than date/grade, proof and pattern coins at the turn of the 1900's?
    Surprisingly, there is information and records on sales of quite a few coins that were Off-Center, Double and Triple Struck and even some Doubled Dies sold for large premiums as far back at the mid 1800's and I am pretty sure a few before that.
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  7. #7
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    Wood Butcher

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    Quote Originally Posted by huntsman53 View Post
    Surprisingly, there is information and records on sales of quite a few coins that were Off-Center, Double and Triple Struck and even some Doubled Dies sold for large premiums as far back at the mid 1800's and I am pretty sure a few before that.
    Thank you.
    Good to know they were as nuts about collecting as we are today!
    huntsman53 likes this.

  8. #8
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    Tommy

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    Coin collectors are nuts a hairline dent only seen through a xxxx100000000 telescopic lens will turn a valuable coin into a total loss they need to be at the mint and get the coin right off the machine and there will still be some kind of flaw nuts I tell ya
    PetesPockets55 likes this.
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  9. #9
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    Quote Originally Posted by A2coins View Post
    Coin collectors are nuts a hairline dent only seen through a xxxx100000000 telescopic lens will turn a valuable coin into a total loss they need to be at the mint and get the coin right off the machine and there will still be some kind of flaw nuts I tell ya
    Those high mint state coins also have no history associated with them. I prefer a coin that has some history and has real eye appeal more than one with just a high grade and nothing else going for it. Poorly struck coins - like many $1 gold, can have a high grade yet not be very attractive. I'd rather have a lower grade one that is better struck. An AU-55 or 58 can be more appealing that a MS-63.
    PetesPockets55 likes this.


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  10. #10
    Charter Member
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    I see minor errors all the time, I throw them back into circulation. You have to have something known and nice for it to retain value.
    PetesPockets55 likes this.

 

 

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