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With the popularity of coin microscopes, hobbyists are finding all manner of doubled dies, but only one really is valuable. Nevertheless, it is important to identify the three main types so that you can tell whether you have a valuable or face value coin.
Types of doubling covered in this article:
Hub doubling.
Machine doubling.
Die deterioration doubling.
Technically, there are 9 classes of hub doubling; but memorizing and identifying those require study. This article is for intermediate collectors.
By becoming familiar with the three main types of doubling, you not only will be able to increase your knowledge of numismatics but also can help others with their finds.
Hub Doubling
This is the most important kind of doubling, always valuable because most kinds have a decent spread of letters, numbers and devices. You usually do not need a microscope. You can see these with a loupe or naked eye.
This type of doubling is produced by a misaligned hub that engraves the defect directly into the working die, meaning the image will be evident in every coin struck by that working die. That is why the result is called a variety, and not an error.
Here is the most famous doubled die resulting from a misaligned working die:
Some 40,000 of the 1955 DDO were initially struck, with about half of the run caught and destroyed, leaving about 24,000 that made it into circulation.
The key distinction of hub doubling is separated, raised and rounded doubling. Older coins typically have this kind of doubling. In the 1990s, the US Mint introduced what is called a Single Squeeze Process, reducing the number of doubled dies with less of a spread and with doubling occurring more toward the middle of the coin.
Machine doubling occurs when the die moves slightly during the striking process, distinguishing it from hub doubling, which is associated with the working die.
Because machine doubling happens during a strike, its “double” image is flat and shelf-like and not raised enveloping the letter or number like hub doubling,
Compare the two in this comparison image:
Machine doubling, which often requires a microscope to see, is common because the Mint uses extraordinarily high-speed machinery whose vibration often causes the working die to bounce on impact.
Machine doubling typically is caused by a single strike, meaning not all coins of that run will have the same impression, as happens with hub doubling. That is why machine doubling is a mechanical error and not a variety.
It also has no collector value.
Die Deterioration Doubling (DDD)
Like any manufacturing facility, the US Mint uses its equipment on a cost-saving basis, meaning working dies are used until they begin to deteriorate. The striking process is high-speed and powerful. When a die is overused, some of the lettering, numbering or devices begin to erode slightly with metal flows entering the degraded areas.
That’s why die deterioration doubling is common, without value, even though at times this mechanical error looks stretched rather than flat. This is how you distinguish between machine doubling and DDD. (Also, die deterioration appears to be a weak strike.)
When the US Mint started producing copper-plated zinc coins with pressure to produce billions of them each year, mint operators over-extended the lives of working dies, producing millions of DDDs.
There are two other types of doubling, “Split Plate Doubling” and “Reduction Lathe Doubling.” The former also is associated with copper-plated zinc cents with the plating eroding in what looks like doubling, especially on mintmarks that people confuse with repunched mintmarks (RPMs).
The final type is “Reduction Lathe Doubling,” really a production issue that happens when a design is transferred to a master hub by a lathe vibrating slightly. The doubling is subtle and again, not valuable. It looks like machine doubling and really is just a category of it.
If you would like to learn more about the minting process, click here.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
Everyday on Facebook coin groups, Reddit and eBay, dryer and spooned coins appear with their owners believing they have found valuable errors. Let’s look closely at both examples of post mint damage in this article so you can identify what you have if you found examples in pocket change (literally) and rolls.
Also, this article showcases examples of sellers claiming dryer and spooned coins are valuable errors. They are not. They have no collector value.
Dryer Coin
A coin left in a home dryer or, more probably, a commercial dryer at a laundromat is known in numismatics as a “dryer coin,” dramatically changing dimensions so that it appears vastly different than the denomination.
The coin typically remains in a person’s pocket after being washed and tumbled and then falls out of the clothing and is exposed to high heat in a dryer. Sometimes it falls into the gap between the rotating inner drum and the stationary outer frame of a commercial dryer where it suffers even more damage due to grinding, friction and heat.
If you put the phrase “dryer coin” into a search engine, you get dozens of examples on Facebook and Reddit.
Dryer coins undergo these transformations: a flattening and widening of the edge, losing any reeding in the process. The heat pushes from the center outward resulting in a state that often resembles a bicycle tire with enhanced rim. The diameter becomes smaller.
Also, the result is a “mushy” discolored surface with devices literally melting away, as in the above coin. That is not a grease strike. It is a cent that was exposed to high heat in a commercial dryer. Compare:
It is important to distinguish between dryer coins and spooned ones. While both are considered damage, there are distinct differences.
Spooned
A spooned coin often looks like a dryer coin. In this case, however, the edge of a coin is intentionally hammered or pressed with the back of a spoon, eventually flattening and widening it.
The process is used to make a coin ring, as in this example:
The process of tooling the coin varies from a kitchen spoon to a handy person’s tool box and machinery. Basically, the coin is secured on a hard surface so that the person can use the back of a metal spoon, tapping, rotating and rubbing the coin over a long period (we’re talking days or even weeks).
Eventually the coin starts to mushroom toward the edge, developing an extended ring-like edge as in the above coin. At that point what remains of the coin is punched or drilled out, leaving the ring, which eventually is polished.
Some finished rings are lovely, as in this example:
Of course the finished ring looks nothing like a dryer coin. The confusion happens when the person abandons the spooning process and leaves the coin with a large ring-like edge but with the remaining devices of the coin still visible without the mushy appearance of a dryer coin.
That’s how you tell the difference between a spooned and dryer coin. Compare:
As you might expect, unknowledgeable people sell dryer and half-spooned coins as valuable error. Here’s an example of a dryer coin offered for $150.
Here’s an example of a spooned quarter misidentified as an error for $500.
Proxiblog has the largest illustrated glossary on the web. Click here. You can compare dryer and spooned coins to sunken dies and heat damage. Study all the examples so that you, too, can become a coin expert.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
There are various patterns of toned coins ranging from rainbow to terminal. Here are the major ones. You can use these terms when selling or sharing your coins with others.
Rainbow
Rainbow colors in nature are Red, Orange, Yellow, Green, Blue, Indigo and Violet. These can be found on coins, as in this example from one of my former coins sold on GreatCollections:
Monster
This term is often misused. Coins that are true “monsters” have exceptionally vibrant, intense, and often, high-value colorful toning, frequently associated with Morgan dollars. Again, from one of my former coins:
Target (Bull’s Eye)
Concentric rings of color, often developing from the outside rim inward. This was one of my favorites and difficult to sell:
Pastel
These coins exhibit soft, light and delicate colors, as in this former coin I owned, also sold on GreatCollections:
Natural/Skin
This refers to natural, undisturbed patina that has developed over a long period. Again, a former coin:
Cabinet
Deep, attractive, often golden or brown toning that develops slowly over many years of storage in a felt-lined cabinet. This coin actually toned over decades in such a cabinet, with the coin saved after JFK’s passing.
Crescent
Toning that appears as a crescent moon shape on a portion of the coin, often caused by how it sat in a holder or album. It was difficult for me to sell this one:
Textile
A rare sought-after pattern that mimics the texture of the canvas mint bag in which the coin was stored. Again, one of my former coins:
Mottled/Splotchy
Uneven and spotty toning as in this former coin of mine:
Taped
Coins originally taped to an album that may develop unique toning where the tape once was, as in this formerly owned coin:
Corrugated Cardboard
These are extremely rare and coveted coins because they often take on the colors of the American flag. I mourned selling this one:
Tarnish Toning
Coin has ugly surface layer of silver sulfide or silver oxide, resembling tarnish on silverware. Be careful giving it a bath in acetone. You might discover flaws and cleaning.
Artificial Toning
This Sulphur/egg/heated colors are an easy giveaway that someone tried to doctor a coin. Forced sulfur and egg fumes combined with aggressive heat typically produce an unscientific or “screaming” palette dominated by yellow, burnt orange, deep magenta, and dull blue.
Black/Terminal
Advanced oxidation that can hide coin details, often reducing desirability. You can find plenty of these once beautifully toned American Silver Eagles that crossed over from old green PCI holders to PCGS, with the Gold Shield interacting again with the toning until it goes terminal. You can see that with crossed over coins that had TrueView:
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If you are in the market for fabulous toned coins, think about Tidy House and American Savings lots whose cardboard produces rainbow patinas.
But there are pitfalls, too. Unscrupulous sellers keep the toned coins and swap lesser or doctored coins.
This article showcases the type of toning you might find with original offerings.
Tidy House Dollars
“Tidy House dollars” are Morgans used in a promotional campaign by the Tidy House Products Company, a cleaning products company, in the 1960s.
The company reportedly acquired a large number of common-date Morgan silver dollars, mostly from the New Orleans (O) mint from the 1880s, from a U.S. Treasury hoard. These coins were sealed in a cardboard holder with an advertising description.
Toning is the main reason “Tidy House dollars” are collected. Coins in the cardboard develop rainbow patinas, as in this example from my collection:
I sent to PCGS and got this grade and TrueView:
But what to do with the now-empty Tidy House holder? You should save the holder after you slab your coin and then, when ready to sell it, show if as this seller did on eBay:
Don’t be fooled by Tidy House holders with coins having no patina. Those probably have been swapped out. You want to buy original ones with rainbows. Otherwise, let the lot go.
And keep in mind that Tidy House only holdered Morgans, not Peace dollars, as in this artificially toned one that I wrote about at Coin World.
In addition to Morgan dollars, Tidy House also holdered 1964 JFK Half Dollars. Those, too, usually have magnificent toning. Here’s an example from one of my Tidy House purchases:
Here’s an offering with all the paperwork and obviously swapped out coins.
American Savings Dollars
American Savings and Loan” banks, especially in Texas, also ran promotions using silver dollars, especially 1979-S Morgans, from a bank bag purchased from the Mint in the 1960s. These have exceptional toning.
I purchased this one in 2022:
Here’s how it graded:
I use the TrueView for my Proxiblog logo.
The empty holder is in my office drawer.
As with the Tidy House dollar, do not purchase any American Savings dollar that lacks toning or has ugly or doctored patina. If the coin exhibits wear, it didn’t come from the bank bag, as this coin, which is AU and has been cleaned and retoned:
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Many hobbyists recommend holdering coins only if they are valuable enough without considering other reasons listed here.
True, the cost to grade can be prohibitive for some collectors. Top companies charge anywhere from $25-38 per coin in addition to fees for membership (not PCGS anymore), handling and mailing, with additional fees for error coins, varieties, special labels or quicker turnaround times.
If cost is not a factor, you might consider holdering a coin for reasons other than inherent value.
Authenticity
A slab provides assurance that a coin is genuine, reducing the risk of purchasing a counterfeit. China exports hundreds of thousand fake coins each year to the United States, especially ones with a Carson City mintmark. If you holder the coin with PCGS, NGC, ANACS, CAC or ICG, you will have a unique barcode or serial number, allowing collectors to verify the coin’s details. Additionally, PCGS and other companies embed security chips to guard against counterfeiting.
Storage
Slabs are sonically sealed in hard plastic, protecting coins from physical damage, such as scratches and drops, as well as environmental damage. Companies also sell containers for compact storage. What’s more, you can share your love of the hobby with family and friends, letting them hold the slabs without your worrying about the coins being improperly handled.
NGC offers some of the most advanced coin holders in a range of sizes to fit virtually every coin ever struck. The company writes, “Designed for long-term preservation and protection, the NGC holders are comprised of high-quality inert materials” with security features. “Collectors, dealers and even the Smithsonian Institution trust NGC holders to protect their most treasured rarities.”
Photography
Top holdering companies also provide photos of coins, sometimes for an additional fee. This is especially important for toned coins. For example, PCGS does a fine job enhancing the rainbow of colors that grace the patina. Photos are important if you keep your collection in a bank box or live somewhere else (i.e. a college student away from home) allowing you to see your coins when and where ever you wish.
PCGS TrueView images are perfect for toned coins like this:
Family
A “family” of coins share common design elements, denominations, mintmarks or thematic characteristics within a series. For instance, you may want to collect all five 1878 Morgan dollars or W-mintmark Quarters or perhaps an example of various errors or varieties, as in the seven 1982 cents or 1942-45 silver war nickels. In these cases, a slab’s labeling is important as you assemble the family of your choice.
Set Assemblies and Registries
A complete date and mint mark set of Morgan Silver Dollars (1878–1921) usually contains close to 100 coins. Because there are so many, some hobbyists prefer year sets. Other assemble sets of a specific mintmark, such as all the coins minted in San Francisco or Carson City. A date and mintmark set of Peace Silver Dollars (1921–1935) consists of 24 coins. Regardless of the set in question, collectors may include a lesser value coin in a holder merely to complete the set in question.
Veteran hobbyists also may participate in set registry competitions, again requiring every coin or variety in the series. One of the most popular PCGS set registries are “low-ball” ones featuring the most worn coins.
Selling
It is often easier to sell, trade, or auction a coin that is already certified, particularly online or to collectors who cannot inspect it in person. Some large auction companies such as GreatCollections or Heritage may require you to holder your coins before they will list them in their catalogs. If you holder with PCGS, NGC or CAC, your coins can be sold sight unseen because of the consistency and quality of the grading.
GreatCollections even notes certification in his banner: “Certified Coin and Paper Money Auctions.”\
Provenance
Serious hobbyists often are concerned about provenance of specific rarities. But even damaged or heavily worn coins may be family heirlooms, such as a grandfather’s “pocket piece.” A coin with deep personal history can be preserved in a “perfect” state by slabbing it, even if it is not especially valuable.
In the past, family members might have passed down coins that they wore as jewelry. This was especially popular in the 19th Century. Here’s a perfect candidate for a slabbed personal heirloom, an 1885 20th Anniversary medal commemorating Abraham Lincoln’s death.
Many collectors prefer raw coins to slabbed ones because they want to hold history. There certainly is a place for that. Just keep some of the low-ball Morgan dollars, for instance, so friends and children can feel the heft of the silver.
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There are many ways to figure the worth of a coin. Follow this step-by-step method, answering these questions along the way:
Is it certified?
Do you know denomination, series, strike?
Do you know the mintmark?
Do you know the Sheldon Scale?
Can you identify your coin on the Sheldon Scale?
Can you spot flaws affecting value?
Are you ready to estimate value now?
Do you know how to establish silver melt?
Is it certified?
If you have a coin certified by PCGS, NGC, ANACS, CAC and ICG, simply go to their verification sites and input the certification number on the label. Here are links:
Even though these holdering companies all have certification websites that show the exact coin, grades for each are not equal. For instance, compare an 1883 MS66PL Morgan in an ICG slab with the same grade and condition for a PCGS Morgan. The ICG coin has disqualifying marks that may be a scratch and rim ding. I also do not think the ICG coin is prooflike. It may just have a good caftwheel.
In general, PCGS, NGC and CAC are top tier. ANACS a close second. ICG considerably less.
If you have a coin holdered by another company, consider the coin inside “raw” or unholdered.
Do you know denomination, series, strike?
You need to identify these features, which every coin has:
Denomination Definition: The face value of a coin, or the specific amount of money it is meant to represent. Example: Common U.S. circulating denominations include 5 cents (nickel), 10 cents (dime), and 25 cents (quarter).
Series Definition: A series is the complete set of a specific coin design, minted over a period of years, usually including all dates and mint marks. Example: Lincoln Cent Series (1909–Present): Includes every date/mint combination of the Lincoln penny.
Strike Definition: Refers to the method of manufacturing used to create the coin. Types of Strike:
Circulation Strike (Business Strike): Coins made for everyday commerce, usually produced quickly in high volumes.
Proof Strike: Coins made for collectors, typically with higher pressure, multiple hits, and polished dies to create a mirror-like field and frosted design.
Special Mint Strike (SMS) / Burnished: Specific, high-quality finishes used for special sets.
Do you know the mintmark?
These are mintmarks for US coins identifying the facility of manufacture:
P – Philadelphia, Pennsylvania: The primary U.S. Mint. Most coins from Philadelphia historically had no mint mark, but the “P” now appears on most denominations except the penny. D – Denver, Colorado: Operating since 1906, this mark is found on most modern circulating coins. S – San Francisco, California: Since 1975, primarily produces high-quality “proof” sets for collectors. W – West Point, New York: Established as a mint in 1988, it mostly produces bullion and special collector coins.
Historic U.S. Mint Marks: These letters appear on older coins from facilities that are no longer in operation. C – Charlotte, North Carolina: Produced gold coins only from 1838 to 1861. D – Dahlonega, Georgia: Also produced gold coins only from 1838 to 1861 (not to be confused with the modern Denver “D”). O – New Orleans, Louisiana: Struck gold and silver coins intermittently from 1838 to 1909. CC – Carson City, Nevada: Famous for silver dollars, operating from 1870 to 1893.
Once you know the denomination, series and strike, you can go to PCGS CoinFacts to find the location of the mintmark.
Do you know the Sheldon Scale?
The Sheldon Scale is a 70-point numerical system to determine a coin’s condition and market value, ranging from 1 (Poor) to 70 (Perfect Mint State).
There are two main types of condition: circulated and uncirculated. Numbers 1–59 (Circulated), from poor to almost uncirculated.
Intermediate grades are Poor, About Good, Good, Very Good, Fine, Very Fine, Extra Fine, About or Almost Uncirculated, Uncirculated.
Here is a nifty chart for numbers and condition.
Can you identify your coin on the Sheldon Scale?
Identifying the condition is subjective, even for veterans; but you can come close if you compare your coin to the denomination, series and strike on PCGS Photograde, which provides photographs that you can use for comparison.
Example:
You have to compare obverse and reverse, but for purposes here, we’ll just do obverse.
Underestimate when you compare your coin to one on Photograde, adjusting for personal bias. In this case, you may be tempted to think your coin is almost uncirculated. But a strict comparison puts it in the Extra Fine category, somewhere between Very Fine 35 and XF45. Let’s go with XF45
Can you identify flaws affecting value?
There are dozens of possible flaws on a coin that lower value or prevent it from being “straight graded” (a numerical score). Here are major ones:
Cleaning: Harsh abrasive cleaning or polishing that damages the surface.
Environmental Damage: Corrosion, excessive toning, or verdigris.
Physical Damage: Major scratches, rim dents, or metal movement.
Altered Surfaces: Applying substances like wax, putty, or lacquer to hide flaws.
Questionable Color: Artificial re-toning, often used to make a coin look more attractive.
Filed Rims: Rims that have been filed to smooth out dents or damage.
Any one of the above flaws will reduce the value of your coin, depending on severity. In many cases, that is 25-50% of estimated worth.
Are you ready to estimate value now?
You know the denomination, series, strike and mintmark. You know the Sheldon Scale and have estimated the grade using PCGS Photograde. You eliminated possible flaws and think your coin can be straight graded.
Let’s continue with the 1900 Morgan Dollar at XF40:
Go to PCGS CoinFacts for retail and auction values for such a coin.
The retail value here is $85 (due at the time in part to the high price of silver). But only 20 have been slabbed at that grade, meaning it probably wasn’t worth the cost of grading. That is confirmed because there are no recent auction sales listed at that low grade.
Your coin is silver melt.
Do you know how to establish silver melt?
Here is the formula:
Multiply the item’s total weight (in troy ounces) by its purity percentage, then multiply that result by the current spot price of silver.
Again, let’s use that 1900 Morgan Dollar.
Morgan dollars (1878–1904, 1921) contain 90% silver and 10% copper, with a total weight of 26.73 grams, resulting in 0.77344 troy ounces of pure silver per coin.
The current market value for one troy ounce of silver, which changes frequently, happens to be $109 (during a spike in that precious metal). Thus, the silver melt value of your Morgan is 0.77344 times $109 = $84.30.
Keep in mind that coin dealers usually only buy 10-15% under silver melt. So you’re looking at about $71, depending on your buyer.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
The 1932-D Quarter (436,800 minted) and 1932-S Quarter (408,000, lowest mintage in the series) are a coveted pair for collectors. The 1932 Philadelphia Quarter has a mintage of 5,404,000 with no mintmark, of course, on the reverse, making it a target for added mintmark fakes.
In this article, we provide die markers so that you can check to ensure that your quarter is authentic.
These key dates are avidly sought by collectors, with the D and S quarters especially rare in uncirculated condition. Compare values compiled by PCGS CoinFacts:
1932-D Die Markers
The most obvious die marker concerns the filled mint mark (“D”) with visible serifs and bloated appearance, even in uncirculated grade:
Here’s how the mintmark looks in more common circulated grades (note you can see still serifs).
You should also look for die cracks on the reverse, especially near the eagle’s left wing or the motto “PLURIBUS.” Many but not all display this.
Almost all examples in very fine through uncirculated should have well-defined devices. (If mushy, you probably have a base metal China counterfeit.) Because of the low mintage, a very small number of working dies were used to mint this rarity. Research suggests only two obverse dies and two reverse dies were used.
Despite the low mintage, there are no major recognized doubled die or repunched mint mark varieties for the 1932-D, unlike other years in the series. So if you see an distinct RPM, again, you may have a counterfeit.
Another marker is a crack running from the hairline across Washington’s head on the obverse.
1932-S Die Markers
You may encounter difficulty identifying die markers for the 1932-S Washington Quarter as they primarily involve die cracks and scratches on both sides, with a key reverse marker being a crack at the word “PLURIBUS.”
Another marker is a scratch or die crack above the ‘3’ in the date, helping to distinguish genuine coins from counterfeits.
Counterfeit 1932 D and S
Identifying fakes in both quarters, look for casting bubbles (1. below), undefined rim (2.), wrong date placement (3.) and overall mushy appearance (4.)
On 1932-D, you’ll see a sharper mintmark on fake and added mintmark examples. Compare the “D” of the counterfeit quarter (left) with the genuine (right).
China has flooded the market with die struck base and silver counterfeits. High-quality Chinese counterfeiting operations produce 500,000 silver coins (including 1932 D and S) per month. Numismatic Guaranty Company (NGC) reports that thousands of fake 1932-D and 1932-S quarters are circulating.
If you are not an expert grader and are buying or bidding on raw coins, you should bypass raw 1932-D and S Quarters and buy ones graded by major holdering companies.
If you like posts like this, please go to our counterfeit archive with reports from Jack Riley, Jack D. Young, John Lorenzo and Michael Bugeja. Also, please subscribe so you can get our weekly newsletter and be informed whenever there is a new article or column.
Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and social media. To get the latest discussion and commentary, be sure to friend us by clicking here.
You can find more information about errors and varieties as well as buying and bidding on coins in Coin News Updated: The Essential Guide to Online Bidding. Please consider purchasing the work for yourself or a friend, as it underwrites this hobbyist website. Thank you.
Clickbait social media sites have tricked new coin collectors into believing they can find ultra rarities in pocket change and bank rolls. What are the odds?
We’ll calculate those odds later. But here’s the list of what you in all likelihood will never find:
1974-D Aluminum Cent
1943-D Copper Cent
1944-S Steel Cent
1982-D Small Date 3.1 grams
1943-S Copper Cent
1944-D Steel Cent
1983/83-D Copper Cent
2000 Sacagawea Mule
1944 Steel Cent
1943 Copper Cent
1969-S DDO Cent
1971-D DDO Cent
Social media scammers also proclaim “no mintmark” coins are rarities. No mintmark means minted in Philadelphia; missing mintmark is the rarity. Again, later in the article, we will show you just how many of these rarities are believed minted:
1968 No S Proof Dime
1990 No S Lincoln Cent
1970 No S Roosevelt Proof Dime
1975 No S Roosevelt Proof Dime
1983 No S Roosevelt Proof Dime
1971 No S Jefferson Proof Nickel
1976 No S Eisenhower Proof Dollar
1982 No P Mintmark
But not to despair! There are hundreds of findable rarities in rolls and pocket change. They won’t make you rich, but will make you a coin collector–a true hobbyist–who knows how to spend time wisely. We’ll cover those later.
Clickbait Social Media
Scammers on Facebook and YouTube foster the belief you can get rich and retire with pocket change.
Here’s a sample YouTube video:
There are only 5 known 1943-S Copper Cents. People have been checking their change and bank rolls for 70 years. To calculate odds of your finding one, factor this: some 125 million Americans consider themselves coin collectors to some degree. Twenty percent of Millennials, or 14.5 million, have taken a keen interest in numismatics.
New collectors have purchased coin microscopes and visit TikTok, Google, YouTube, eBay, Facebook and other social media venues, believing they can strike it rich by checking their change at the grocery store or making several trips to the bank for rolls.
Now consider the past 50-70 years of Americans collecting coins and looking for ultra rarities like 1943 copper cents or 1944 steel ones. What do you think the odds are of your finding one of them?
Now factor the hundreds of thousands of fake ultra rarities exported to the US by China. These often find themselves in rolls and auctions. Etsy, an American company flooded with Chinese sellers, and Temu, a Chinese company, also have saturated the coin market place with replicas. See this article for examples.
AI Calculates Odds
In addition to being a numismatist, I am a distinguished professor (actual title) emeritus at an institution of science and technology. My research specialty is artificial intelligence. I fed data into several sites and databases to calculate the odds of your finding one of these treasures.
In the table below, you will see those top 12 rarest coins and their values along with the odds of your finding one in pocket change or bank rolls.
Brace yourself:
Social media is undermining the hobby along with Chinese counterfeiters who count on your not knowing die markers for rarities. If you don’t, you can spend thousands on replicas.
Some examples:
Just consider the 1943-S restrike copper cent offerings on Etsy:
eBay scammers buy these restrikes and then list them as ultra rarities. Here’s an example:
You also can find “missing mintmark” rarities in online auctions.
Missing Mintmarks
The Philadelphia Mint did not use a mint mark on coins until 1980, with the exception of the 1979 Susan B. Anthony dollar, 1942-45 35% silver Jefferson war nickels, and the 2017 Lincoln 225th anniversary cent.
Here’s another table about how many missing mint mark coins are believed to have been released into circulation.
Here are tactics of counterfeiters and scammers:
Altering Normal Coins: Forgers might take a regular dime and try to remove the mintmark.
Tooling: Look for signs of filing or polishing where the mintmark should be.
Fake “No-S” Proofs: A common tactic is to take a regular business strike (like a 1970-S) and try to remove the ‘S’ to pass it off as the rare proof version.
There are hundreds of varieties and error coins that hobbyists still can find in pocket change in bank rolls and that are holdered by PCGS, NGC and ANACS. For a comprehensive list, click here.
Coin collecting is in part about value and investment. The difference between now and past decades is where new hobbyists are getting misinformation. In the past, most numismatists embraced the hobby because of the history, art, culture and metallurgy of coins, medals and paper money.
That is why Proxiblog recommends these three articles for new hobbyists:
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
The 1878-S Morgan has a mintage of 9,774,000 and is valuable in higher grades, but a small detail on an otherwise even silver melt coin is a coveted variety. It’s called “Long Nock.”
Let’s define “Nock,” an uncommon word, except for archers, whose definition is a notch at either end of a bow for holding the string.
So right off the word leads us to the quiver of arrows held by the eagle on the reverse.
Morgan 1878-S “Long Nock” coin refers an extended length of the arrow shaft (the “nock”) in the eagle’s talon. This variety is a result of a design variation used on the first set of dies delivered to the San Francisco Mint.
Let’s compare a regular 1878-S reverse with a “long nock” one with this photo from PCGS CoinFacts:
The “long nock” feature extends the tip of the central arrow.
This variety has several specific variations in the VAM directory (named after the directory compiled by Leroy Van Allen and A. George Mallis):
These varieties happened because of an urgent need to produce Morgan dollars at various mints in 1878. The first 10 pairs of dies for the San Francisco Mint had the “long nock” design. When the US Mint asked engraver George T. Morgan to revise the design, reducing the relatively high relief (shortening die life), the nock was shortened and the number of tail feathers on the eagle were reduced from eight to seven.
Value for this variety is high but few ever exceed almost uncirculated levels. The top pop at PCGS is AU53.
At Very Fine 20, the coin retails for $275 and increases by about $100 each Sheldon grade higher up until AU53.
Nevertheless, you will find 1878-S Morgans everywhere–even in slabbed coins–with the owner or holdering company missing the variety. (If you submit a coin without identifying and paying for a variety, that designation will not be on the label.)
Happy hunting!
If you like posts like this, subscribe so you can be informed whenever there is a new article or column.
Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and other social media. To get the latest discussion and commentary, be sure to friend us by clicking here.
You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
