2009 Penny Errors

[Joe S.-migration]

Does anyone have an opinion on the errors seen on the 2009 pennies? What I mean is are they (in your past experience) going to be worth the wait and or bother? With the complex designs, there seems to be tons of errors found.

 

Where is the line drawn on what is collectable? I am attracted to the "obvious" flaws but there seems to be a flaw on every coin out there.

 

Any opinions?

[SD4000-migration]

At first errors,are one of two things.really wanted or not wanted. Some sell easily at lower prices between 1-5$ a piece.some 5-20$.Then when the demand kicks in,and there are none around.the price goes up.But if their selling it may be time to unload,as the price may go down.its all about demand.I had an opportunity 2 years ago to buy a 5k coin at $300.and I just missed it.the demand was low,now its valued at 8k.....

[L1ncolnF4n]

The only one I really felt was a decent error (speaking as a former error specialist and Lincoln fanatic) was the Formative years bootstrap variety. It was a nice die crack, and was clearly visible without magnification; however, I don't think it will be worth more than $20 anytime in the foreseeable future.

[cpm9ball]

Joe,

 

In most instances, errors on new issues from the Mint have a tendency to go for higher than normal prices, initially, because of the "feeding frenzy" of collectors trying to acquire them. Prices usually have a tendency to drop after that, and unless it is a major error, do not usually go back on the rise.

 

Chris

[Joe S.-migration]

So...what you are saying is, be patient? Keep all of them that I can find and sit on them until the market tells me to sell?!!!

[cpm9ball]

So...what you are saying is, be patient? Keep all of them that I can find and sit on them until the market tells me to sell?!!!

 

Of course not! I just want you to realize that what they sell for now will probably be less than what they sold for immediately after their discovery.

 

Chris

[SD4000-migration]

It depends on the demand & supply. with what you have,are they readily available? If you could have sat on a roll of 55 double dies would you have? sometimes errors become high priced on discovery,and some become high priced down the road.When I buy errors,I sit on them until the market asks for them,and thats when no one else has them for sale.then you ween them out.It all depends on what your looking to do,make some money now,or play the game & hold off to see if they become more popular down the road.examples are

 

washington no edge dollars. upon discovery they sold for upwards of $400 a piece

now they sell for $80

 

1972 double die 4 years ago I was buying at $450 ms64-65rd now 700ish

 

some are worth waiting for, some are dumpers,its all about the "gut feeling" and it all depends on rarity,and severity of error. just an opinion,I have been buying & selling errors for many years,and always made money.never lost.

[Jeffrey Cardona]

Same thing happened with the 2008 SAE. They started at around $300 then shot up to $1000 for a few months and I believe they went down to the $700-$800 range now.