As a neophyte collector, it's important to establish target coins to gather. Some of the most interesting coin collections are mint sets, proof sets or error sets. If you decide to focus on an error coin set, you search for mint mistakes, unlucky strikes, and so forth. Most errors that you'll find in natural circulation won't be worth that much. A raised crack in a coin, for instance, may only fetch a tiny bit more than standard auction price. However, inevitably, you'll come across some really interesting rarities. For instance, there's an interesting kind of coin called a mule, which is basically a coin that has a mixed mint. Magicians sometimes soldered together coins as "faux mules" for their tricks. These have no real value at auction. The way to discriminate fake mules from real ones is by searching for seams vis-à-vis a magnifying glass or microscope. Real mules include a Sacagawea golden dollar, which was minted accidentally with a picture of George Washington. An 1869 Indian cent was struck on both sides with the obverse dye--this coin is now worth a small fortune. A modern mule appeared in circulation in 1999, when a Lincoln penny accidentally got stamped on the back as a Roosevelt dime. Striking errors can add value, as well. Off center coins, unstruck or partially struck coins, and cracked coins may be worth significantly more than their ordinary listing value. If you find a really weird coin, get it professionally appraised. Don't necessarily clean it yourself, as caustic agents may cause hairline scratches, which can reduce the value of a truly precious piece by thousands of dollars. |
