I don't know whether to laugh or cry; story of the US quarter struck over a Canadian quarter

3 posts
I guess it was a slow news day in Chicago, because they ran a story about 1970 dated quarters having a small error, which makes them worth $35,000. They actually encourage people to check their change. Here's a link to the story:
http://abc7chicago.com/finance/misprint-makes-1970-quarter-worth-a-ton-of-money-/1374171/

The reality is, a well known error dealer Mike Byers, is offering a 1970-S (proof) quarter struck over a 1941 Canadian quarter on ebay for a Buy-It-Now price of $35,000. Here's a link:
http://www.ebay.com/itm/1970-S-Proof-Washington-Quarter-Struck-on-1941-Canada-Quarter-NGC-PF-65-/271924283587?hash=item3f4ff348c3:g:RDoAAOSw~gRVnLYU

The coin was originally discovered by Fred Weinberg (another big name in US error coins) back in 2001 when he purchased roughly 350 error coins from a California Controller's Office auction of unclaimed property (they were the contents of a safety deposit box). The US Secret Service was called-in to determine if the coins were legal to own, because there is evidence that San Francisco Mint workers were intentionally making errors and then smuggling them out back in the early 70s. Bottom line, the Secret Service said they were OK to own, and Fred and his partners sent them off to NGC for authentication and slabbing. (The real oddity in the group is actually the only known authentic two-tailed quarter.)

Fast forward to today, this one of a kind coin is being offered for big bucks on ebay, and there's no chance you can find one of these in change!
I read this yesterday and just had to shake my head at both the gullibility of the public and the unscrupulous nature of dealers. It's $35,000 worth of nothing and overpriced by exactly $34,999.75. I'm not a big fan of error coins to begin with and frankly a lot of them are requiring a lot of imagination to see the error. Slight doubling, 5% off centre strikes, dimes struck on nails..... it's becoming a farce.

This monstrosity doesn't even have the dubious distinction of being a legitimate error. There is no way that a Canadian quarter "accidentally" fell into the die just as the blank planchet happened to fall out. Give me a big hammer and two quarters and I'll make you one just like it in less than a minute.

TPGs grading these concocted errors as being genuine should tell collectors everything about their value to numismatics.
Non illegitimis carborundum est.  Excellent advice for all coins.
Make Numismatics Great Again!  
"This monstrosity doesn't even have the dubious distinction of being a legitimate error."

True, but not because it didn't come from the Mint. This was an intentionally made error produced by a San Francisco Mint worker and probably smuggled out in the oil pan of a fork lift. Thus, I don't blame the TPGs for slabbing these types of dubious error coins. Instead, I would blame the Secret Service for not confiscating them when they had the chance.

There is now a story in USA Today, which has corrected information in it, thanks to snopes.com:
http://www.usatoday.com/story/money/nation-now/2016/06/08/rare-us-canadian-quarter/85599572/

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