The Scrap Booking Club

Error coin collecting brings an excitement not easily found with traditional coin collecting. Error coins are very rare. Most errors never get released into circulation, making them an exciting and potentially rewarding find. 

What are error coins? They’re quite simply mistakes made at the mint during production of the coin. Tight controls make it a rare event for errors to make it into the public. Several coins, over the years have made it into circulation. More people today are learning how to find these valuable coins.

Today, there are plenty of opportunities to find error coins for sale, from online auction sites to specialized coin dealers. But you can also find error coins right in your own pockets. Some families even make it a fun activity to search through their change for errors. Here are pointers on how to search for error coins:

• Throughout the month, place your loose change in a container.
• Once a month, set aside time to look through your coins for any errors.
• Separate each coin by denomination and have a reference image of the front (obverse) and back (reverse) of the coin next to each pile.
• A reference guide with images of error coins can be helpful with identifying any potential errors you find.
• It’s very helpful to have a magnifying glass or loupe (at least 7x) to examine your coins.
• Don’t spend too much time examining each coin for errors. Any error that can’t be discerned through a magnifying glass probably won’t have much value.
• Put aside any coin that looks odd for a closeup examination later.

Before starting your search for U.S. error coins, it’s a good idea to educate yourself on the several varieties of errors. A good guidebook like Strike It Rich With Pocket Change by Brian Allen and Ken Potter would give you a clear understanding of the types of error coins and their value. Just to name a few of the popular types of errors:

• Off-center coins: An error where the coin is struck partially on the coin blank, showing only a portion of the coin design.
• Double die coins: An error where the coin is struck by a die that has a doubled image on it. A most often cited coin is a 1955 Lincoln penny with a doubled date on the image.
• Clipped coins: An error where the coin is struck on a coin blank with a portion of the metal is missing. You’ll find the clipped area of the coin to be similar to a crescent moon.

Most error coins will be worth a few dollars on online auction sites and with collectors. But occasionally, you might find a sought after one that can be worth hundreds if not thousands of dollars.

Filed under: 01-Articles on July 10th, 2009