• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Archived

This topic is now archived and is closed to further replies.

COIN INDUSTRIES VIEW OF DIE CRACKS NEED TO CHANGE.

Started by parasite,

24 posts in this topic

parasite

parasite

Posted
Posted

This needs to change because a dies failure is predictable, and not changing it before its failure is an error. Do you change your cars tire before it fails. Same thing should apply to coins. Not finding it before it leaves the mint is also an error. Not changing the die when a known crack is on it is also an error.

 

KINGKOIN KING OF KOINS

Link to comment
Share on other sites
Peace_Fan

Peace_Fan

Posted
Posted

Die cracks should not be considered errors, they are certainly not rare, and they have existed as long as coins have been around. There are thousands of Peace dollars with significant die cracks because of the mint's desire to try and produce more fully struck coins (used more pressure), but they don't command $.01 worth of premium in the market because they're not rare.

 

Now if you're talking about things like off-center hits, rotated dies, and double strikes then you get into rarities for which there is a premium market. IMO, die cracks will never command any premium in the market as a whole.

Link to comment
Share on other sites
MarkFeld

MarkFeld

Posted
Posted

The vast majority of coins (I'm not counting those made especially for collectors) are made with the intent and knowledge that they will be circulated/spent. Hence, the mint isn't too concerned about die cracks.

 

Tire changes on cars are typically made for safety/performance purposes (yes, sometimes it's done simply for appearances, but that's up to the individual owner).

 

That was a terrible analogy from a person who is (probably/hopefully) much smarter than he often pretends to be.

Link to comment
Share on other sites
Oldtrader3

Oldtrader3

Posted
Posted

In the 19th Century, all the dies were controlled by sent to the Branch Mints through the Philadelphia Mint. The Philadelphia Mint almost never gave the Branch mints enough die sets to cover their needs. That is why so many New Orleans mintage coins (especially) are so poorly struck. They had to use their dies much longer and therefore use much less striking pressure.

Link to comment
Share on other sites
Julian

Julian

Posted
Posted

Collectors, for the most part, enjoy die breaks, and add them to their collections. Serious numismatists, especially collectors of early coinage, value them highly.

Link to comment
Share on other sites
cladking

cladking

Posted
Posted

Die breaks are certainly errors and on proof coins they certainly are not common. But there is not a great demand for them hence the traditionally low price. The mint has raised the bar several times on what they are and are not willing to let out of he mint. Die breaks have long been something which they try not to let out, but with high speed presses many coins can be made before it is caught. This is especially true if the operator is distracted. The actual danger is not great since most presses are enclosed in plexiglass and operators wear safety equipment. As the die deteriorates there will often be a piece broken off and the resultant coin is said to have a cud. These are scarcer than the breaks and normally command a higher price. Many collectors do desire to have examples of breaks and cuds and some even collect progressions of specific breaks. But very few collectors attempt sets of all the breaks and cuds which have been made. This means that the most common breaks can sometimes actually lower the value of a coin. Intersting die breaks do occasionally get peoples attention.

Link to comment
Share on other sites
PQSeated

PQSeated

Posted
Posted

I have a nice 2000-D Lincoln with a fairly big die crack. It looks like his heart is squirting out blood. Maybe I should spend it, or give it to parasite.......... Oh these decisions...........

Link to comment
Share on other sites
Coinosaurus

Coinosaurus

Posted
Posted

Gentle Collectors:

 

I call to your attention an article from the Numismatist, April 1947, p. 308, copied exactly herewith:

 

 

 

The Editor's Corner

 

Die Cracks are Plentiful

 

From the letters received by The Numismatist it would seem that one of the most popular phases of collecting at the present time is that of recently issued coins showing die breaks.

 

Occassionally we get a letter from an experienced collector who complains about such defective pieces, but he is outnumbered by far those who think a die crack makes a new "variety" and a rare and valuable one at that. This is indeed a curious situation.

 

Somewhere along the line collectors have picked up the idea that a die crack makes a variety rather than helps identify a variety.

 

The young collector should remember that only one variety can be produced from the same pair of dies whether they be the master dies or working dies. While die cracks are less objectionable than scratches they have about the same significance, when it come to "varieties" of modern coins.

 

 

 

Link to comment
Share on other sites
Hoot

Hoot

Posted
Posted

Nice thing to have dug up Coinosuarus.

 

In the 60s, when I was just starting collecting, the LIBIERTY wheat cents were a hot item to collect for the average circulated coin collector. These were, however, more of a novelty than something of cridible worth. (I still like 'em!)

 

Hoot

Link to comment
Share on other sites
Go to topic listing