ALSO
The PCGS believes the next major error might be an overstrike with both the Sacagawea and presidential designs on the same coin. That will be worth a $10,000 finder's fee,
and you still get to keep it .
http://www.denverpost.com/news/ci_7627723
Andrew Moores tossed a Sacagawea coin into a dish on his desk and forgot about it — until a few weeks ago when he realized he possessed a treasure.
Moores had a golden dollar with "In God We Trust" encircling the edge of the coin, which was struck in 2007 at the Denver Mint.
Those words are the hallmark of the new presidential dollar coins, not the Sacagawea. And so far, Moores' Sacagawea is the only one of its kind.
"I kind of feel like I won the lottery. It's that much of a rarity," said the 23-year-old data-entry technician from Lakewood.
After examining the odd dollar, he sought the advice of a friend who collects coins.
"His eyebrows raised," Moores said. "He knew it was quite an aberration. He said it was a major error."
His friend found out that Professional Coin Grading Service in Newport, Calif., had a $10,000 bounty on such a coin. The PCGS authenticates rare coins and offers cash for new discoveries.
After Moores spoke to the president of the company, he packaged his prize in a FedEx box, insured it for $50,000, and shipped it off for examination. The company verified the coin's authenticity and sent Moores a $10,000 check. He gets to keep the coin, too.
No one has ventured a guess as to what the coin is worth, said Moores.
"Since, at present, it is thought to be one of a kind, it really is worth as much as anyone is willing to pay for it at this time."
In 2000, some Sacagawea coins were struck so that there was a "quarter die on one side and a Sacagawea die on the other," said Mike Faraone, an expert on error coins at the PCGS. "I think about 10 came out, and one of those sold for $65,000."
In contrast, hundreds of presidential dollars struck without the "In God We Trust" edge are selling for up to $300 online.
Faraone said the U.S. Mint has procedures to prevent errors from happening — and from leaving the building. The U.S. Mint, which produces 40 million coins a day, recycles error coins and misstrikes.
But the measures aren't foolproof.
"They strike so many coins that sometimes they get stuck in bins, in the cracks and crevices, so they get mixed up," Faraone said.
Michael White, a spokesman for the U.S. Mint, said officials are aware of the reported error and are looking into it.
The PCGS believes the next major error might be an overstrike with both the Sacagawea and presidential designs on the same coin. That will be worth a $10,000 finder's fee, too.
The PCGS believes the next major error might be an overstrike with both the Sacagawea and presidential designs on the same coin. That will be worth a $10,000 finder's fee,
and you still get to keep it .
http://www.denverpost.com/news/ci_7627723
Andrew Moores tossed a Sacagawea coin into a dish on his desk and forgot about it — until a few weeks ago when he realized he possessed a treasure.
Moores had a golden dollar with "In God We Trust" encircling the edge of the coin, which was struck in 2007 at the Denver Mint.
Those words are the hallmark of the new presidential dollar coins, not the Sacagawea. And so far, Moores' Sacagawea is the only one of its kind.
"I kind of feel like I won the lottery. It's that much of a rarity," said the 23-year-old data-entry technician from Lakewood.
After examining the odd dollar, he sought the advice of a friend who collects coins.
"His eyebrows raised," Moores said. "He knew it was quite an aberration. He said it was a major error."
His friend found out that Professional Coin Grading Service in Newport, Calif., had a $10,000 bounty on such a coin. The PCGS authenticates rare coins and offers cash for new discoveries.
After Moores spoke to the president of the company, he packaged his prize in a FedEx box, insured it for $50,000, and shipped it off for examination. The company verified the coin's authenticity and sent Moores a $10,000 check. He gets to keep the coin, too.
No one has ventured a guess as to what the coin is worth, said Moores.
"Since, at present, it is thought to be one of a kind, it really is worth as much as anyone is willing to pay for it at this time."
In 2000, some Sacagawea coins were struck so that there was a "quarter die on one side and a Sacagawea die on the other," said Mike Faraone, an expert on error coins at the PCGS. "I think about 10 came out, and one of those sold for $65,000."
In contrast, hundreds of presidential dollars struck without the "In God We Trust" edge are selling for up to $300 online.
Faraone said the U.S. Mint has procedures to prevent errors from happening — and from leaving the building. The U.S. Mint, which produces 40 million coins a day, recycles error coins and misstrikes.
But the measures aren't foolproof.
"They strike so many coins that sometimes they get stuck in bins, in the cracks and crevices, so they get mixed up," Faraone said.
Michael White, a spokesman for the U.S. Mint, said officials are aware of the reported error and are looking into it.
The PCGS believes the next major error might be an overstrike with both the Sacagawea and presidential designs on the same coin. That will be worth a $10,000 finder's fee, too.
Upvote
0
