Don’t let valuable error coins slip through your fingers
Error coin collecting is a passion that can surpass the excitement of traditional coin collecting. Error coins are difficult to find. Since most minting errors never get released to the public, finding one can be a potentially rewarding find.
What are error coins? Quite simply, they’re mistakes made at the mint during coin production. And due to stringent controls, they rarely make it into the public pockets. Several coins, over the years have made it into circulation. Today, more and more people are teaching themselves how to look for 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. Searching for error coins can be a fun activity for the whole family. Here are pointers on how to search for error coins:
- Throughout the month, place your loose change in a container.
- Once a month, choose an evening to examine all of your loose change for errors.
- Place each coin in a separate area based on denomination and have a reference image of the front and back of the coin next to each area.
- A reference guide with error coin pictures can be helpful in identifying errors you find.
- It’s important to have at least a 7x magnifying glass or loupe on hand to examine your coins.
- You don’t have to spend a lot of time searching your coins for errors. Any error that can’t be discerned through a magnifying glass probably won’t have much value.
- Put any coin that appears odd aside for later examination.
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 popular error coin that seemed to kick off the error coin collecting craze is a 1955 Lincoln penny with a double 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. The clipped area of the coin is reminiscent to the shape of a crescent moon.
Error coins often will be purchased for a few dollars by collectors. Sometimes, you might locate one that can be worth hundreds and possibly thousands of dollars.