If your coin have this error, you are rich now!!

Spoiler: It is all a lie.

Lately, the number of people entering the forum with coins showing PMD (post-mint damage), minor inclinations, micro metal displacement, and nano errors has been increasing.

This phenomenon seems to be worldwide, perhaps created by a generation of YouTubers and misleading sensationalist news trying to gain more clicks.

As always, the owners of these damaged coins are often against any numismatic reasoning, never believing any advice. As a result, the forum is flooded with ugly, worn coins being claimed as valuable.

I would gladly accept some truly amazing errors here and there, but no—it is always some dull coin that was forgotten in a parking lot or covered in dirt and rust.

Is this a new worldwide numismatic trend?

Right. If these ugly “errors” are worth so much then who's buying them?

I get regular messages from my uncle who gets all these click bait articles in his newsfeed asking if this and that common garden variety pocket change is worth a fortune. A bit annoying but what can you do … 

It's these articles and get rich quick schemes that keep these threads coming. 

There is a reason some coins are valuable, they are damn rare (you will never see one in multiple lifetimes rare). And even if you would find one defective coin you would also need to find one of these hyper-specialised money bags that forks you over such a large amount for a curiosity at best.

I know that it does rarely happen where people find error coins in their change which really are quite valuable. I seem to recall a silver 2p coin (wrong metal, rather than a proof) was quite valuable, or the 2008 undated 50p.

But so much of it is pure bunkum, or greatly exaggerated. “Look to see if your coin has a tiny piece of cud here, it's worth bazillions if it does”.

It seems like a combination of misunderstanding of coins, wilful ignorance, good old hyperbole, and deliberate click-bait.

Other than click-bait engagement, I really can't understand the purpose of such “articles”. People who do have these errors will be sorely disappointed when reality hits, collectors already know its hooey. I guess it's the old “get rich quick with no effort” ploy. 🙄

  I been waiting for someone to post. My grandparents got me this very rare 2 new pence 1971 coin from the UK, for only 500 dollars. What should i do. 

    It is just sad. You know it has happened, more than once.  If it is collected there will be people out trying to scam the collectors. Just remember the beany babies.

   Yes i like to look for errors. Just because of the hunt. And yes, i have a lot of errors in my collection. My biggest down fall with errors is ghosting. Just love them , i dont know why. This week i got a 1954 D dime , yes was happy.  But not as happy when i found my first US wheat back 1 cent with ghosting.

Or when i found Netherlands 1 cent and 5 cents have ghosting too. And that is me. Very few people even care about ghosting. Hopefully this will pass soon. 

Part of the problem is knowledgeable, experienced collectors trying to scam the public for profit.  Here's is a store of a member of Numista:

A 1995P error penny for $1760.36. The error?  “A slight fingerprint error.” Probably his own.

So many people out there who can't be bothered reading and are attracted by sensationalist headlines, clickbait and stories of their coin being on ebay for ten obsquatmajillion dollars. Low IQs and short attention spans addicted to memes, vines and tiktok - means reasoning is impossible with most of them.

Blame computers and blame modern society. The fact most overpriced non errors don't sell is a sign there is a hope for the human race. Add on a healthy dose of greed - getting something for nothing and you have brainless dreamers with Uncle Scrooge eyes every where.

Most common “Coin error scams I see now”

1971 1 and 2 new pence coins of UK being considered rare (or even rear, as most dreamers can't spell and speak textaniquah or viralbonics). Ultra common coins issued in the “billions” and still some how legal tender now, they escaped all the downsizing and cost cutting remetalling of other British decimal coins.

1988 and 1989 Australia $2 coin with HH on it (Ultra common)

Any coin with post mint damage

Any £2 coin or any other coin with edge lettering that can be applied in either direction

Coins that are missing plate on them - like 2p UK coins without copper plate on the steel

Fake coins made in China usually of American silver dollars, British trade dollars

Coins missing some sort of mintmark like 1967 US coins, when they had a leftist experiment then, that stopped them marking coins with mintmarks.

Dreamers who overdescribe common silver coins, like saying a Halfcrown in “Good” condition (Good as you know is an awful condition for coins) is Extremely fine or mint and charging that price for it.

People who think “old” means valuable like “This 1899 penny is from the 18th century and venerable and rear and you can nearly see the date on it”

People who overcharge for common old coins like 1899 pennies and say stuff like “Its been through 2 world wars” and “Imagine the stories it could tell” or even “They didn't have Vines when this 2006 penny came out”.

People whose lack of intelligence just shine through in their listings, bad spelling and bad grammar, textspeak and ignorant lines “Rear 18th century coins from 1890 something” “Real gold $1 coin of Australia” “Very rare 1971 2 New pence coin, great condition (and its VG minimal basal condition, only £9999.99 plus £165.00 Postage and handling - get it now BAHHHGAARRNNN"

I just ignore them all with the swiftness.

Moneytane

 

Coins missing some sort of mintmark like 1967 US coins, when they had a leftist experiment then, that stopped them marking coins with mintmarks.

 

 

I am intrigued but actually 1965-1967.  I thought the intent was to to discourage coin collecting. Please tell us what was the leftist experiment.  Was LBJ involved?  CIA?  Some Cuban cartel?  

rsirian1

Moneytane

 

Coins missing some sort of mintmark like 1967 US coins, when they had a leftist experiment then, that stopped them marking coins with mintmarks.

 

 

I am intrigued but actually 1965-1967.  I thought the intent was to to discourage coin collecting. Please tell us what was the leftist experiment.  Was LBJ involved?  CIA?  Some Cuban cartel?  

1. Because they moved to muck metals from silver after 1964 (Well the 50c remained base billon silver a bit longer)

2. They wanted to discourage coin collecting via mintmark and make collecting cheaper.

3. Proof sets were eliminated in 1965/67 and only a “Special Mint set” came out in those years.

4. 1968 saw this madness end with the Mintmarks back and Proof sets reissued, possibly was it the arrival of Nixon.

5. 1965 - 1967 was the groovy society of LBJ and people not wanting to be heavy by encouraging greed and capitalism of the man.

6. Civil rights leaders complaining that coin and stamp collecting excluded poorer people and people of colour.

Reasons 4 to 6 are made up and complete humour, but the Special mint sets are real.

It was the alien ducks. They want to take over the world. Just for the round metal disks. 

 God help us coin collectors. The ducks are out there.

Moneytane

rsirian1

Moneytane

 

Coins missing some sort of mintmark like 1967 US coins, when they had a leftist experiment then, that stopped them marking coins with mintmarks.

 

 

I am intrigued but actually 1965-1967.  I thought the intent was to to discourage coin collecting. Please tell us what was the leftist experiment.  Was LBJ involved?  CIA?  Some Cuban cartel?  

1. Because they moved to muck metals from silver after 1964 (Well the 50c remained base billon silver a bit longer)

2. They wanted to discourage coin collecting via mintmark and make collecting cheaper.

3. Proof sets were eliminated in 1965/67 and only a “Special Mint set” came out in those years.

4. 1968 saw this madness end with the Mintmarks back and Proof sets reissued, possibly was it the arrival of Nixon.

5. 1965 - 1967 was the groovy society of LBJ and people not wanting to be heavy by encouraging greed and capitalism of the man.

6. Civil rights leaders complaining that coin and stamp collecting excluded poorer people and people of colour.

 

Reasons 4 to 6 are made up and complete humour, but the Special mint sets are real.

Yes, 1 to 3 are correct. If you believe LBJ was a leftist experiment then you have to believe it started in the elections of 1959 when JFK was elected.  I was there. It was no experiment, just a reaction away from the rightist Eisenhower administration.

rsirian1

 

Yes, 1 to 3 are correct. If you believe LBJ was a leftist experiment then you have to believe it started in the elections of 1959 when JFK was elected.  I was there. It was no experiment, just a reaction away from the rightist Eisenhower administration.

Ike was republican, but it was before party flip in USA. Look at the 1952 or 1956 elections to see who was electing him. And who elected next dude in 1960. Compare elector votes map with civil war map.

His rightist administration sent 101st Airborn to some place in Arkansas.

tokul

rsirian1

 

Yes, 1 to 3 are correct. If you believe LBJ was a leftist experiment then you have to believe it started in the elections of 1959 when JFK was elected.  I was there. It was no experiment, just a reaction away from the rightist Eisenhower administration.

Ike was republican, but it was before party flip in USA. Look at the 1952 or 1956 elections to see who was electing him. And who elected next dude in 1960.

 

His rightist administration sent 101st Airborn to some place in Arkansas.

He did send troops there to ensure and protect the rights of African American children to attend public schools. They were being denied entrance by locals (white dudes some with white sheets and cones on their head) with guns.  You say it like it was a horrible thing to do.  I think you need to understand the facts better before throwing out statements like that.

rsirian1

tokul

rsirian1

 

Yes, 1 to 3 are correct. If you believe LBJ was a leftist experiment then you have to believe it started in the elections of 1959 when JFK was elected.  I was there. It was no experiment, just a reaction away from the rightist Eisenhower administration.

Ike was republican, but it was before party flip in USA. Look at the 1952 or 1956 elections to see who was electing him. And who elected next dude in 1960.

 

His rightist administration sent 101st Airborn to some place in Arkansas.

He did send troops there to ensure and protect the rights of African American children to attend public schools. They were being denied entrance by locals (white dudes some with white sheets and cones on their head) with guns.  You say it like it was a horrible thing to do.  I think you need to understand the facts better before throwing out statements like that.

I did point that Ike was not right winger in today's sense. I would suspect that you missed it.

tokul

rsirian1

tokul

rsirian1

 

Yes, 1 to 3 are correct. If you believe LBJ was a leftist experiment then you have to believe it started in the elections of 1959 when JFK was elected.  I was there. It was no experiment, just a reaction away from the rightist Eisenhower administration.

Ike was republican, but it was before party flip in USA. Look at the 1952 or 1956 elections to see who was electing him. And who elected next dude in 1960.

 

His rightist administration sent 101st Airborn to some place in Arkansas.

He did send troops there to ensure and protect the rights of African American children to attend public schools. They were being denied entrance by locals (white dudes some with white sheets and cones on their head) with guns.  You say it like it was a horrible thing to do.  I think you need to understand the facts better before throwing out statements like that.

I did point that Ike was not right winger in today's sense. I would suspect that you missed it.

No I saw that. I was pointing out that your comment about him was totally misleading and meant to be inflammatory but probably not on purpose. You probably just heard a biased tidbit somewhere and repeated it without checking its validity. 

Since Croatia adopted the Euro local news portals have been competing with each other which one will make up the most ridiculous article about super valuable rare euro coins you can find in your change. It's just clickbait but has led to local auction houses being flooded with beat up common date euros being offered for hundreds if not thousands of euro. Even here on the forum you can see new members from Croatia regularly asking a valuation of common coins thinking they're super rare or have some sort of valuable error.

I got asked by acquaintances about coins they found in their spare chance a few times. As you said, they simply refuse to believe their coins are worth just face value. I don't bother explaining anymore and tell them I don't collect euro coins, they should try selling the coins on auction houses.

My personal opinion on modern error coins is they're just a damaged coin worth face value. 

It's an unfortunate social media phenomenon (like mainstream news being left in the dust for clickbait sensationalism).  It's a bitter pill to swallow for those who believe news needs to be verified).   On 1 hand it raises the hobby's profile (the more people who know there's coins/banknotes collected- great) but on the other hand, PMD pseudo “errors” & the crap we read out there (presently) happens to be so full of hyperbole & misinformation, it seems obscene (or dirty).

And it doesn't just happen to coins: paper money rarities have also become the target of clickbait sensationalism. Read this thread on the Paper Money Forum for just a few examples (& examples of more coins selling for billions). More sad fake news.

I always encourage collectors (& even wanna-be collectors) to engage in the forums (like here or other sites where bonafide collectors actually exchange opinions on the value of collectible currency). 

But at least the hobby hasn't sunk down to the level of “banana & duct tape” or what some consider ART these days! Imagine, you could buy 2 significant US colonial coins (if 2 existed & still have change) for the price of that fruity sticky tape!