Building an Error Collection Part #3
Posted by JonSullivan on Jul 15th 2015
Above: Lincoln Cents are a very popular series for
building an error coin collection.
In part# 3 of our series on building an error coin collection, we are going to discuss collecting errors on a single series of coins. This type of collection is for the collector who loves error coins, but also has a “favorite coin series”, and so putting the two interests together makes for a fantastic way for them to collect errors.
To build an error collection based on a single coin series, the first thing to do is pick a series of coins your love. This might be Lincoln cents or Franklin Halves or Morgan dollars. Whatever series you love, you should probably choose that series, however, there are some coins series that are extremely rare with errors on them, and so they do not lend themselves well to error collecting as a series. Here are some of the series which are rarely found with errors:
Coins Series Rarely Found with Errors
-Any silver or gold coins prior to about 1878
-Barber quarters
-2c Pieces
While there are errors coins known on all series of U.S. Coins, the series mentioned above are so rare that collectors will almost never find anything to buy (except for minor errors such as strike throughs, clips, etc), and often times when they do, the coins will be expensive. An error coin collection based on those series can be done, but it takes a large budget, and most of all patience. Any other series of coin would be doable at some level, although the series’ which are the easiest and have the most variety of errors include all coins currently in circulation, from cents to dollar coins.
Once you’ve picked a coin series, you should then start making a list as you buy coins, noting the date, mintmark, grade, and error type, that way when you’re at coin shows you’ll know if you have a “ die cap” or a “split planchet”, etc. It’s best to start immediately, otherwise you’ll have 50 errors in your collection and you wont be able to remember what all error types you have. Some collectors will buy any error type they don’t have, as well as any date/mint mark of that error type missing from their collection. This makes for a massive error coin collection, which will never be “completed”, but it also will be amazing to look at in terms of the variety and scope of errors in the set.
Above: Buy coins slabbed with reputable grading services. Check with experts
you know to find out which are the best.
Next, you’ll want to decide on the grade and if you require the coins to be certified or not. For coins over $1,000 in value, it is recommended you buy slabbed coins when possible since there are some counterfeits out there, and getting your coins certified will also give you some recourse if the coin turned out to be counterfeit or have some other problem. Between Chinese counterfeiting, old counterfeits from decades ago, as well as some very high quality modern counterfeits there are enough “bad” coins out there that you should buy slabbed coin in a reputable grading service holder.
In the next article we will be discussing collecting errors that are “eye-catching.” Feel free to write me with questions or comments at: jon@sullivannumismatics.com