US Mint Error Coins???

[Joe S.-migration]

I recently came across a mint error Morgan. The morgan was 80% missing off of the planchet. I am not sure if you could tell the date/mint mark or not. Is this something that someone would be interested in? I haven't purchased it yet...but I do have it on hold.

 

Joe S.

[bsshog40]

I would presume that if it's authentic, yes, it would be worth something!

[gbsten]

I would presume that if it's authentic, yes, it would be worth something!

 

Hmmm...excellent point there! With the skill level being achieved with some of the copies it seems it would be easier to make a "fake" error, and probably much harder to verify. Maybe they're on to something new??

[Joe S.-migration]

I have no idea if it is real or not (how in the world would I know). I don't know the dealer (it is in an antique store). I will take a pic of both sides and submit it the next time I am up there (it is an hours drive to the north).

 

Joe S.

[TomB]

If authentic it is an expensive coin.

[Conder101]

A VERY expensive coin.

 

And the chinese ARE getting into fake errors.

[Joe S.-migration]

Well...this is where I get into "what do I do, how do I know if it is a fake"?

 

HELP!

 

I would love to get it for someone who really wants it for their collection but!!!!!

[Joe S.-migration]

What do you meain by "VERY Expensive"?

 

They currently have a price of $95.00 on it.

[RareSov]

Sounds fake depending on the date. A very common date would be worth the least.

 

Unless they are too stupid to know what they have ? but it sounded like a dealer.. is it ?

[Joe S.-migration]

All I know is that he calls himself "the coin man" and he has setups in several antique stores in the area.

 

BUT...what are some tell tail signs that it is a fake? I am too new to this to jump in 100% blind. $95.00 won't break the bank, but I don't want to waste it either!

[gbsten]

Tell-tail signs:

 

A coin which is selling for a fraction of it's worth, certainly when it's from someone who has even "a little" knowledge of the field.

 

Selling the coin raw - once again anyone with some knowledge would almost certainly have that coin authenticated as genuine, have it slabbed, and start waiting for the big profit to roll in.

 

Selling it in a little sales forum as he is. That coin would be highly marketable in a large forum for good money and any dealer would know that.

 

 

The hope is that some sucker buys it, never has it authenticated, and it's another successful robbery. If caught, they throw their hands up in amazement and state they would have never thought it wasn't genuine. They refund your money (hopefully) and wait for the next sucker. It wont take long to find someone who just tucks it away. Think about it, who's going to shell out grading fees for a $95.00 purchase? That's why the price is so low! Even if caught and investigated they claim ignorance and it's almost impossible to prove otherwise. To be prosecuted, INTENT TO DEFRAUD must be proven. A nice scam if you don't mind being a scumbag.

[Joe S.-migration]

Well...I think I am going to confront him on it when I am up there (if it is still there). They said that they have his contact information and I will have them get him on the phone when I am up there.

 

I guess first I will try to find out if he is a dealer. If he is I will ask him if it is authentic and see what his answer is.

 

If he is not a dealer, just a hobbyist like myself. I'll ask him where he got it and try to contact them regarding it's authenticity.

 

Do you think I would be out of place if I asked him to reimburse me if I get it checked out by NGC and they determine it is a fake, or is that too pushy?

 

I will let you know how I did. He had approximately 200 coins for sale in this case (most were fairly priced and in mixed shape) and this miss-strike was kind of hidden...?

 

If it is legit..it's awesome!

 

Does anyone have any examples of miss-strikes that they have or have seen that might meet my description? Pricing too?

 

I can tell that this one is going to eat away at me until I prove it either way.

 

Joe S.

[RareSov]

It is absolutely normal to ask for some guarantee of authenticity and a return policy. Just do not bother without it. Many people ask if they can return a coin if it no grades, before buying.

 

If I were you I would take a camera, and take a few pictures of it "to show your friend"

[Benz Coinz-migration]

Joe,

 

Anyone calling himself, The Coin Man, should have the knowledge to know this coin is Rare and would have submitted it long ago.

 

If it is a real 80% off center Morgan, it would be worth thousands depending on condition. Get the pics and post so we can see the coin.

 

Ben

[Bugmann1974]

I have nothing to add to this post but... Welcome to the board Ben!

[Conder101]

What do you meain by "VERY Expensive"?

 

They currently have a price of $95.00 on it.

Put at least one zero behind that price. Possibly double that price of the dealer's and then put a zero behind THAT.

[Jon P. Sullivan]

Since I cannot see the coin it is impossible to say what it is or what it is worth or if it's genuine. If it is an error, it is most likely a struck-through grease/slag error or it is a lamination. If it's a strike-through, it would have a nice premium on it since it covers 80% of the coin...a few hundred dollars, probably, if it's in mint state. If it's a lamination, it's probably worth a lot more. Just use your knowledge of "normal" coins to get an idea as to its authenticity- does it appear to have original surfaces (on the non-damaged side), does the coin have any obvious signs of non-error damage? If you can get a picture, I can probably tell you if it's genuine as well as an estimate of its value.

 

Jon