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Old 03-24-2010, 07:38 AM
 
Location: Mid Missouri (Miz-oo-ree)
625 posts, read 1,432,503 times
Reputation: 719

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Hey CD folks, I have a penny from 2001 that was mis-struck. I got it at the bank (of all places) in early 2001, when I was getting change for the shop drawer. It is so bad that it is oval a bit. I have no idea how it got past the mint crew. Anyway I showed it to a customer (antique dealer) and he wanted to buy it for what I thought was allot for a penny. When he was so quick to offer (and I knew he was a cheapskate and not a "true" coin expert) I decided to take it to a pro to see why he was so interested. Then the coin got lost in the office. I have recently moved my shop to Missouri and when unpacking and going through things I found it. The plastic it was in just go stuck to something else. So with the story told now I wonder if any of you fine folks know which way I should go. Is this thing really valuable? Who can you trust to tell you the truth? Any advice is appreciated.
About the coin. Date 200? Can't see the last digit but has to be either 2000 or 2001. I got it before April 2001 and it was rolled and looked "spankin" LOL. Very clear stamping front and back. Almost exactly half of the image. Slightly oval (which made it fit the roll funny and makes me wonder why no one caught it) Good shape-been covered and in-hiding for almost 10 years. Any help is appreciated. PS sorry about the poor pict quality.
Attached Thumbnails
Anybody collect coins?-penny-1.jpg   Anybody collect coins?-penny-2.jpg  

Last edited by BillyC64; 03-24-2010 at 07:38 AM.. Reason: Add a line
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Old 03-24-2010, 09:24 AM
 
Location: Tyler, TX
15,202 posts, read 18,277,526 times
Reputation: 8032
Some info:
Lincoln Cents with Off-Center strikes

The value of it is whatever the market will bear - there's no fixed value for errors. If I were you, I'd start watching eBay auctions and coin sites to see what similar specimens are fetching. I'd also wait until the economy improves before trying to sell it, unless you really need whatever money it can bring right now. The collectibles industry is very dependent on people having disposable income, and is among the first to take a hit when the economy sours.
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Old 03-24-2010, 07:59 PM
 
19,025 posts, read 22,262,465 times
Reputation: 7326
Don't loose it again..... If you have any sence put that coin in a safe, in a marked envelope, and tell yourself what it is in 3 times, and never forget.

May I ask what the cheap skate offered?

The next thing to do is see if you can find any others like it on line, in coin shops and asking collectors.

Research quality and fair coin shops, with out telling them why. Look at any feed back customers say about these places. Get a few pics you could leave behind and or mail to a quality shop. Becarefull of that coin.

It is rare which you already know, the question now is how rare is it? If it is the only one then it could be a problem, but if there is say 25 known others, then it will have a collector value quickly. Be wise and not hasty.

Look up other rare pennies from days gone by too. Or you could just send it to me
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Old 03-24-2010, 10:41 PM
 
Location: Mid Missouri (Miz-oo-ree)
625 posts, read 1,432,503 times
Reputation: 719
Default 40 Bucks

Thanks for ideas, folks. 40 dollars without even blinking. I knew something wasn't right. I have started a little looking and some of these things are crazy priced. I think I will just hang on to it for a bit and keep my eyes open. I know it's worth at least 1 cent
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Old 03-26-2010, 12:29 PM
 
19,025 posts, read 22,262,465 times
Reputation: 7326
Guys 9movers) like that know they can double their offer fast.... So it's worth 80 atleast, and my guess is if you are carefull more than that by double again.

What you need to do is find someone that has one and is a collector dealer. That will get you info on retail, as if you wanted to buy such a coin.

With that info you can still wait and see, or decide to sell, and maybe take a 10% discount to retail.

If you have finger prints on that coin get them off with mild soap and water soon. Not because your finger prints will be ilegal, but for the acid in your fingers tips won't etch into the thin layer of copper. You want that coin as mint new as possible.
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Old 04-23-2010, 10:17 PM
 
1,742 posts, read 5,005,969 times
Reputation: 714
I collect them very casually, but I do know some collectors specialize in error coins.
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Old 04-24-2010, 06:34 AM
 
Location: Somewhere in Cass County MI
13,092 posts, read 2,352,990 times
Reputation: 11666
Oh yes I like to collect coins.
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Old 04-24-2010, 01:09 PM
 
Location: Metromess
11,798 posts, read 22,002,434 times
Reputation: 5074
It isn't just how rare a coin is that determines its value, but also whether or not there is a demand for it.
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