Why Some Coin Dealers HATE Mint Error Coins

Why Some Coin Dealers HATE Mint Error Coins

[CoinHELPu]

Why Some Coin Dealers HATE Mint Error Coins

[ADawg-uqbk]

You always seem to cover "content" that other channels like this don't. Also I noticed you rarely "hype" your viewers with all these "big money" coins that one may find in pocket change or from cherry picking, and my personal favorite is when you struggle trying to explain important things in a simplified manner so that even the most novice of viewers such as myself would understand. You are a rare breed sir, you have great integrity, so hard to find these days. I have watched pretty much all your videos even though many of them had crushed my dreams of having a "winner" coin, nevertheless I truly believe the information you share on the knowledge of your profession has been the most helpful for me by far, Thank you for that and sorry for the loooong comment, but I really felt I had express my gratitude. I actually re-opened my account with YouTube just so I can tell you so I hope you have time to read it and good day!!

[rumblebars]

I understand the business model of coin dealers being more like precious metal flippers. Hell, when I started collecting, silver was like insanely expensive back in 1980. So I learned early on that there's a difference between a coin enthusiast and a coin investor. I only have a couple of actual "rare" coins, most of my coins are rather "meh" but I don't care, I'm an enthusiast collector, not an investor.

Again, around 1980, 9 years old, I was given the then-current editions of Redbook and Photograde. Don't know which book had a section on mint errors, but for years that was the sum of knowledge I had about them. I'm talking about extreme mint errors such as clashes, die breaks, off-centers, clipped planchets and not die prep varieties like re-punched dates/mint marks and doubled dies. I kind of got the impression that those extreme errors were things that collectors had little interest in. Unbeknownst to me at that time, while I knew my Dad was a banker, I didn't know that he would hold onto any odd coins that came his way during the years that he handled money before he got promoted up into other areas of administration at the bank. He wasn't really a collector, but he knew these were of special interest so he held onto them. At one point he pulled his coin sack out of the Safety Deposit Box and let me have a look at it. A fistful of very worn old coins, but I was kind of thrilled to find that there was a separate envelope with some extreme errors. There were only 7 of them in there, but I still cherish them, 5 Lincoln very off-center strikes, one slightly off-center Jefferson, all with dates, plus one heavily clipped planchet Lincoln cent with no date. I have no idea if they are actually "worth" anything, but in some ways, they have more personal value than the oldest coin elsewhere in there, an AG3 1867 shield nickel. (I inherited the whole lot after my parents passed away)

[mikemeros]

Dude, this is by far the most helpful coin channel out there. There are several channels that I love watching and subscribe to, but no other coin channel is as direct and realistic as CoinHELPu, in my opinion. Thanks for all that you do to keep us in line.

[Redvines]

Might have mentioned this before, but I found an no date offcenter dime at my local shop once, and based on where the mint mark was, I tried to show him it was a silver dime. He just looked at me like I was an idiot and wasn't making sense, so I gave up trying to help him and bought the offcenter silver dime for the 3 bucks he was asking. I personally love that I was able to somewhat date the coin based on the mint mark location.

[SilverOceans]

Hey Daniel, so true, everyone thinks they have a $10, 000 coin! But like you said there are so many nuisances that it really takes a specialist to examine and verify a rare mint error

[DLR]

I feel like part of what you do is educating us . Your videos are ment to be informative and guiding. You have given us tools and point us it the right direction. With all that combined we should be able to get the information we need about our coins. I will only reach out as a last resort because getting the answers myself with the tools you provided helps me understand and learn more as a collector. I personally have learned a ton from you.. Thanks Daniel for all you do.

[bmhwa]

Unless they have visual appeal some of us collectors don't care about mint errors either.

[mkhuntstreasure]

I love that “you have to learn to hunt before you hunt”! And no I can’t believe with your great disposition you ever have a bad day.

[jeffw]

Oh, you'd LOVE my errors, but I get your point. Mine are mostly in slabs and they're pretty rare errors, like off-metal planchets and stuff like that.

[Surge_LaChance]

My wife's grandfather was an error collector. The term Blakesley Effect is named after him. I've had to learn quite a bit so far!

[georgematthews]

Good Morning Daniel!!🍵 I try to own the "classic", coin book listed, mint errors. But otherwise I don't have the years and money left to both chase errors and collect the older traditional coins!! Chasing after the latest mint errors only leads to frustration instead of joy!!🙁

[NuthinFancyCollectibles]

Merry Christmas to you and your family, Daniel. Thank you for all the information you share with us.

[jonmccarty]

Well said. Time is money and there is a limited amount of both!

[bcod]

Hello, that is fine if coin shops and dealers are not into mint error coins, it's just the attitude that is returned back to a person that is new to the hobby, walks into the shop, and asks a question. I would also like to say that just because I like checking out coins with errors doesn't mean that I'm not aware of how coins are graded and so on. Maybe this is a poor mans specialty area, because I like looking through my spare change jars I've saved, plus I like the excitement of finding an older coin and if it has an error on it, then it like an extra cool score. I'm just getting back into the coin collecting hobby and learning about different errors, but it's about the hunt for me. So if I find a 1950 wheat cent in decent shape it might be worth two cents, but if I put a little extra time in a search on it and find something new or different then maybe a I have a fifty cent penny. Haha.

[josepchwill]

I just had a crossover submission of 3 ANACS coins come back from PCGS, two of the coins did not crossover. However, a MS64 1879S Morgan was actually undergraded by ANACS and upgraded to MS65 with PCGS.

Thanks for another video.

[dalestoner]

People don't understand what it takes to run a business. They think you have all the time to spend on them and their face value coins. May you and your family have a wonderful Merry Christmas.

[Stackinginvestments]

Thank you again Daniel, for my last order of GREAT looking Morgans. Hope you and your family have a Merry Christmas.

[juannunez]

In general, people need to have an appreciation for rarity. The odds of coming across a coin in the wild that might be a 0.001% kind of error or a coin type that has less than 100 known samples is extremely rare. You could hunt for years and not find them. Eliminate all other possibilities before you jump to the conclusion that you have something particularly special. That's just basic logic.

[mikewest]

Simply put, time invested/coin value = hourly earnings. So you can't invest so much time that you make $1 an hour for your efforts. No way to pay your bills there. So that's one reason you may find decent errors at a coin shop cheap. Other dealers may have an attitude about errors as well and are just not interested in them. To each their own but as a shop owner, you must make enough money to pay your bills in the end or you go under as a business. That's stress. Yeah.