Mark Stilson Posted March 8, 2007 Report Share Posted March 8, 2007 From this weeks Coin WorldCollectors reporting errors on edges of Washington $1s Finds include doubled, missing edge inscriptions By Eric von Klinger COIN WORLD Staff Reports of manufacturing errors involving edges of new George Washington Presidential dollar coins include double lettering, lack of lettering, "dropped letters" and odd stray marks. The George Washington coins, first officially released Feb. 15, are supposed to have these elements incused on the edge: date, Mint mark, IN GOD WE TRUST and E PLURIBUS UNUM. In the production of circulation-quality coins, the planchets are first struck, obverse and reverse, in a coin press with a plain retaining collar. Then they are taken in open buckets over a long conveyor system to a machine where they are fed horizontally and spun by a rotating, vertical wheel through a slotted chute. In that slot, they are rolled and pressed against raised figures on what amounts to a final die, called an "edge lettering segment." The vertical orientation and horizontal positioning of inscriptions in relation to the obverse and reverse are random. <Snip> CW So its a 50/50 chance which way it prints. Really sad part about this I'm spotting "Upside-Down" edge coins going for $50 + Just watching in the last few minutes. I went ahead and picked up a roll yesterday. Out of 25 coins, 8 showed "right-side" up with Washington on top. The other 17 were "upside-down". One of the things I noticed is the poor shape of the coins. The roll I got was a Denver. It looks like with all the extra handling higher grades then MS65 are going to be rare. I may just have a bias against these coins though. Link to comment Share on other sites More sharing options...
Mark Stilson Posted March 8, 2007 Report Share Posted March 8, 2007 Looking at the edges show a ton of odd marks. But found one with what appears to be an incuse "O" pressed in to the edge. It is something different from the normal dings I see. For some reason I believe a lot of "Errors" are going to show up. Also with the right size letter punch you could do a lot of "Errors" seems like these could be asking for edge problems. Link to comment Share on other sites More sharing options...
syzygy Posted March 8, 2007 Report Share Posted March 8, 2007 ...and now the mint acknowledges the "no edge lettering" error. Will this acknowledgement lead to an increase in quality control such that we will not see much of the error in subsequent issues? BTW, a grading company is offering a fat "reward" for finding (and submitting) a genuine edge-lettered SAC Link to comment Share on other sites More sharing options...
Dockwalliper Posted March 8, 2007 Report Share Posted March 8, 2007 As long as the edge lettering is a seperate process these errors will happen but not likly in this quantity. Link to comment Share on other sites More sharing options...
Mark Stilson Posted March 8, 2007 Report Share Posted March 8, 2007 Okay, now its getting ridiculous an "Upside-Down" one just went for $152. Link to comment Share on other sites More sharing options...
Burks Posted March 8, 2007 Report Share Posted March 8, 2007 It's amazing how Tuesday these were trading for $30-$50 each. One Wednesday they were trading at nearly $300. Talk about a price increase! The upside down lettering is just a huge scam. 1/4 of the roll I have was upside down, it's the luck of the draw! Link to comment Share on other sites More sharing options...
Mark Stilson Posted March 8, 2007 Report Share Posted March 8, 2007 I wonder how long will it be before the buyers will understand they overpaid for a common coin. Just imagine someone coming up to a coin shop and trying to sell or value their coin and being told its worth a dollar. Especially after buying one for $152. Don't know how rare the no lettering is going to be but one just sold for $405. Link to comment Share on other sites More sharing options...
Burks Posted March 8, 2007 Report Share Posted March 8, 2007 Don't know how rare the no lettering is going to be but one just sold for $405. $478 They can't be extremely rare. People were selling them by the hundreds in dutch auctions. Mainly out of Florida it seemed. Link to comment Share on other sites More sharing options...
thedeadpoint Posted March 8, 2007 Report Share Posted March 8, 2007 So, we have a lot of people, whether they be collectors like us or scammers like you : p, that are looking through rolls and seeing what interesting varieties there are. What do you say most of those people do with the coins that are normal? Send them back to the bank or spend them? If you think the latter, don't you think this will help the dollar's circulation? Link to comment Share on other sites More sharing options...
Burks Posted March 8, 2007 Report Share Posted March 8, 2007 Probably send them back to the bank. No one, except a few of us, really want to carry numerous dollar coins in our pockets. Bank managers could make a small fortune off these dollars. Pay the employee that finds one $10 and flip it for $400+. Link to comment Share on other sites More sharing options...
Mark Stilson Posted March 8, 2007 Report Share Posted March 8, 2007 So, we have a lot of people, whether they be collectors like us or scammers like you : p, that are looking through rolls and seeing what interesting varieties there are. What do you say most of those people do with the coins that are normal? Send them back to the bank or spend them? If you think the latter, don't you think this will help the dollar's circulation? I'm trying to figure out who the scammers part was directed to. For some reason I don't think anyone who has been posting here is selling them on ebay. To me ebay should think about blocking the sale of "Upside-down" dollars. On the blank edge side a NGC certified one with 2 days to go is up to $1,200 . As to me I always look at all my coins for varieties and errors. And I will be keeping mine. (Except the ones I want to trade, so I don't need to blind buy rolls to find a few Philadelphia mint ones.) Link to comment Share on other sites More sharing options...
Burks Posted March 8, 2007 Report Share Posted March 8, 2007 Wow. Not only is it missed the edge lettering, it's a 66 to boot! I wonder if there will be a 67? Link to comment Share on other sites More sharing options...
Mark Stilson Posted March 8, 2007 Report Share Posted March 8, 2007 I did a search under U.S. coins dollars of "Upside" and as of this posting 2489 items listed. At least they are not going for $100 + now. Side note in a article in todays local newspaper it has been estimated about 50,000 no edge lettering dollars have already made it out. From the ones I saw any higher grade dollars will be rare. The process seems to be real prone to damaging the coins. Link to comment Share on other sites More sharing options...
syzygy Posted March 8, 2007 Report Share Posted March 8, 2007 I did a search under U.S. coins dollars of "Upside" and as of this posting 2489 items listed. At least they are not going for $100 + now. Side note in a article in todays local newspaper it has been estimated about 50,000 no edge lettering dollars have already made it out. From the ones I saw any higher grade dollars will be rare. The process seems to be real prone to damaging the coins. Hmmm I wonder if the process maked it difficult to produce proofs of high quality (i.e., not banged up). As I recall the release date for proofs was moved back. Link to comment Share on other sites More sharing options...
thedeadpoint Posted March 8, 2007 Report Share Posted March 8, 2007 I'm trying to figure out who the scammers part was directed to. I was being sarcastic and felt the need to use the word "whether." Don't worry, you're all good people in my book. Anywho, I think its safe to assume these 'errors' will be old news in a few weeks. But do you think the release of the next design will stir up the muck again to a significant degree? Link to comment Share on other sites More sharing options...
Mark Stilson Posted March 9, 2007 Report Share Posted March 9, 2007 Hmmm I wonder if the process maked it difficult to produce proofs of high quality (i.e., not banged up). As I recall the release date for proofs was moved back. If they use a engraved collar it would probably turn out good. Using a rolling method, I could see a lot of scrapes turning up and rejects. Link to comment Share on other sites More sharing options...
thedeadpoint Posted March 9, 2007 Report Share Posted March 9, 2007 Uhh... guys, speaking of the washington dollar errors: I found some nickels with missing edge lettering... and some quarters with upside-down reeding Are these more error varities we'll be seeing hit the fan?? Link to comment Share on other sites More sharing options...
Dockwalliper Posted March 9, 2007 Report Share Posted March 9, 2007 Hmmm I wonder if the process maked it difficult to produce proofs of high quality (i.e., not banged up). As I recall the release date for proofs was moved back. The proof wiil not be made the same way. The edge lettering for the proofs wiil be in a 3 part collar and stamped along with the rest of the design. Unlike the circ. coins the lettering on the proofs will always be up and positioned the same on every coin. The only downfall will be that the seams of the 3 part collar will show on the coins edge too. Link to comment Share on other sites More sharing options...
Brett Posted March 26, 2007 Report Share Posted March 26, 2007 HSN was just selling Washington dollars with missing edge lettering. While they were talking about the ugly coin they sold 1200+ @ $400 a pop!!! not bad to make a quick half million Link to comment Share on other sites More sharing options...
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