Question? About die chips etc.. 1 1

[Hinkle]

Hi everyone, how is it that die chips on these new quarters are going between 40, 60 dollars a pop. I get alot of pop-ups about this stuff. I have die chips on silver coins almost similar to these new coins, and only worth at the most 10 dollars. There given these errors/die chips names also. I'm being told to just call it what the error or variety is. Much respect for everyone on here staying professional on what they are really called. I'm understanding naming a error is just over doing it to get a bigger hype, then really learning the actual error/variety. 

Then I get a pop-up on the 1969-Ds penny with no FG knowing it's overpolishing die, going for around 100 dollars. When I think back I threw a hand full of those back into circulation, just because I was being told there not a big deal to collector's. Interesting. 

I'm still hunting, but taking a little more time searching through coins with the new stuff popping up out there. Like the extra V in VDB initial on the 2023 penny. To me it's still alot of fun. Like I've said before, I'm into collecting and keeping what I find, not to much into making money on this stuff. But if I find something special then I might sell or whatever might happen. 

Here's a 2021-D penny,  I'm only showing this because now with all this crazy stuff popping up out there, it's got me looking closer at these coins. I would say this is a die chip on the V, I could be wrong tho. Thanks 

[Just Bob]

Don't forget:  The fact that these are being offered for a lot of money doesn't mean they are actually selling for this amount. Anyone can slap a high price tag on their garbage, but only an ignorant person would buy it. I could put a big scratch a Lincoln cent, give it a cutesie name like "scarface" or "injured Abe" and list it for $100, but that doesn't make it worth more than a penny. The same goes with all of these very minor cuds, cracks, and chips. If you like them, by all means collect them. I certainly hold on to any unusual die state example or other interesting thing I may find, but I don't expect them to ever be anything more than a novelty.

[Coinbuf]

Who is buying these at $60 each?   How do you know that anyone is actually buying these?   Just because someone on IG or etsy/ebay is listing it at these prices doesn't mean that anyone is buying at these prices.   Are those listing at these prices making a two way market, have you contacted one of the sellers and asked what he is paying for the coins you have with die chips?   My guess is that the sellers of these will not be interested in buying, or only at a tiny fraction of what they list them for.

I have no doubt that there are a few people buying this stuff, there is always the greater fool, especially with the proliferation of all the get rich quick videos.   I remember when the "BIE" cents from the 50's were the new hotness and people were just as gullible and lapping up those cents as important.   It did not take long before it was realized that they were not only not special but that there were tons of them available.

Just don't be the greater fool, you know from your roll searching just how easy it is to find coins with die chips.   The internet is a great tool, but it is also a tool for misleading people in very large numbers.

As to the coin you posted in this thread, the closeup is out of focus, it might be a tiny die chip but I cannot say for sure from that pic.

[Hinkle]

On 4/6/2023 at 9:04 AM, Coinbuf said:

Who is buying these at $60 each?   How do you know that anyone is actually buying these?   Just because someone on IG or etsy/ebay is listing it at these prices doesn't mean that anyone is buying at these prices.   Are those listing at these prices making a two way market, have you contacted one of the sellers and asked what he is paying for the coins you have with die chips?   My guess is that the sellers of these will not be interested in buying, or only at a tiny fraction of what they list them for.

I have no doubt that there are a few people buying this stuff, there is always the greater fool, especially with the proliferation of all the get rich quick videos.   I remember when the "BIE" cents from the 50's were the new hotness and people were just as gullible and lapping up those cents as important.   It did not take long before it was realized that they were not only not special but that there were tons of them available.

Just don't be the greater fool, you know from your roll searching just how easy it is to find coins with die chips.   The internet is a great tool, but it is also a tool for misleading people in very large numbers.

As to the coin you posted in this thread, the closeup is out of focus, it might be a tiny die chip but I cannot say for sure from that pic.

Thanks  Coinbuf,  yeah looking  on ebay. Just unbelievable how these are priced. Your right, by roll searching I find more and more of die chips on alot of coins. Pretty common if you ask me. Just outrageous what people  will pay for a die chip on coins. I think I'll  save my money on something cooler. 

[Hinkle]

On 4/6/2023 at 8:48 AM, Just Bob said:

Don't forget:  The fact that these are being offered for a lot of money doesn't mean they are actually selling for this amount. Anyone can slap a high price tag on their garbage, but only an ignorant person would buy it. I could put a big scratch a Lincoln cent, give it a cutesie name like "scarface" or "injured Abe" and list it for $100, but that doesn't make it worth more than a penny. The same goes with all of these very minor cuds, cracks, and chips. If you like them, by all means collect them. I certainly hold on to any unusual die state example or other interesting thing I may find, but I don't expect them to ever be anything more than a novelty.

Thanks Bob, I don't expect it to be worth wild on any coins out there. I keep a few just to have on hand for learning purposes. And your right just a bunch of garbage. 

[RWB]

On 4/6/2023 at 9:58 AM, Hinkle said:

how is it that die chips on these new quarters are going between 40, 60 dollars a pop.

They aren't. 10-cents each is too high!

Clear your browser cache, delete the junk, and put related emails in your Spam folder. The pop-ups are cheap click-bait which is how the perpetrators make money.

[Sandon]

   I agree with what everyone who has responded to this topic so far has said but would add that several of the varieties that are listed in the Redbook and that are widely sought and command high prices are of the same ilk. The 1922 "no D" or "Plain" Lincoln cent and the 1937-D "Three-legged" "Buffalo" nickel come to mind.  I've collected Lincoln cents and Buffalo nickels by date and mint and some major varieties but have never sought and do not want either of these mentioned varieties.  In my opinion they're just coins struck from worn, damaged, and/or overpolished dies and should be worth less, not more than normal, well-struck examples of their respective issues.  You can never tell which arguably minor variety will become either a temporary or permanent favorite of collectors.

   In terms of determining what varieties are actually sold for significant premiums, I would check the auction archives on the websites of such major and responsible numismatic auction houses as Heritage and Stacks Bowers (and presumably Goldberg Coins and Great Collections) rather than asked prices on ebay and other such sites that prey on the uneducated.

   

[powermad5000]

The naming probably came from some of the popular Morgan dollars that were named for the variety that was being described such as the 1888 O "Scarface" and the ever popular 1891 CC "Spitting Eagle". The thing to note, though, is that there were large numbers produced with the same attribute. Somewhere along the way, more recently to be specific, people started over magnifying every coin picking up every scratch (most post mint damage), and every insignificant die chip, or minor imperfection normal in the minting process and within mint tolerance, and giving it some crazy name and touting that it is a "unique error ultra rare pop 1 of 1 coin" and then started to try to sell these for ridiculous dollar amounts, for something that is unique from the standpoint that there probably isn't another with the same small insignificant detail, but most certainly NOT an error, NOT some ultra rare collectible highly desirable coin, and NOT some one off discovery coin (most are being sold raw anyway).

Those who do attempt to sell for these ridiculous amounts should be called out. If I am not mistaken, you can report listings like this on eBay (I am not sure on other sites), and check the box for pricing. Problem is most people don't and just move on. As for those that do sell at a ridiculous price to some unknowing buyer, it should be criminal.

Click the X on the click bait pop ups, and yes, you should look at your coins but remember anything beyond 10X is not going to be significant enough to be worthy of anything special. And please don't participate in the shiesty market by trying to sell stuff like that for a ridiculous price.

[EagleRJO]

Minor chips, cuds, rotated dies, doubling, etc. are commonly encountered on coins due to dies that deteriorate or move slightly as part of the normal coin production process, and therefore are not errors or something worth an appreciable amount.  Also, if it's something that can not be seen just looking at a coin it is likely not worth very much at all.

Collectors seek errors that can be readily identified without the use of magnification, which is only used (10x max) for finer details of that identifiable error.  So using your scope to find a tiny die chip at the "V" in VDB of a penny is really pointless.

On 4/6/2023 at 9:58 AM, Hinkle said:

... how is it that die chips on these new quarters are going between 40, 60 dollars a pop ... I have die chips on silver coins almost similar to these new coins, and only worth at the most 10 dollars.

There is no way those are consistent sold coin results, the occasional sucker aside.  Depending on the size maybe a few bucks at most, and those must be asking prices on like eBay.  The attached is a listing pic for three normal dollar coins worth $3 with a $7,000 asking price!  Slip in the word "gold" in the description, say for color or "appearance", as well as lighting that even gives the SBA's a gold like tint and bingo ... sucker nirvana!

To get some meaningful numbers on say eBay click on the "Advanced" search hyperlink, to the right of the regular search bar, then check the "Sold Items" box and enter the search.  That will give you actual sold coins, which you then throw out the highest and lowest results as anomalies.

Edited April 8, 2023 by EagleRJO