Putting a value on an error coin.

[cpm9ball]

I noticed that one of the members has a "WTB" for error coins in the Marketplace. I started thinking about it, and I'm wondering what criteria (other than recent purchases or auctions) is used to establish a value. What if the coin were a "one-of-a-kind" or "two" or "three"? For example, I know that another specimen of the Kennedy half on my sig line sold for $555 raw in 2005, and to my knowledge, they are the only two for that date/mm in existence. On the other hand, I believe that my Mint Error 2005-S KS Silver Proof 25c is one of only three in existence, but mine is graded PF70 Ultra Cameo. Wouldn't this enhance the value for this rarity?

 

Regardless, I am still in a quandary. Does it all come down to whatever the market will bear or what? Any input would be greatly appreciated.

 

Chris

[supertooth]

Hello Chris----- Errors must be hyped to be valuable. The dealer community usually finds an error---then markets it. Out of a total mintage production in the millions or billions---you need about 10,000--20,000 errors. That makes it "FINDABLE" and marketable too.

 

Your half was a wonderful find----but, since it has no brothers or sisters, only a 'specialized' collector would really care. So, although a fine piece, its value is determined---not by anything other than what its sale price would be each and every time it was sold. Right now, its value is about 555 until either your coin or the other one is sold again.

 

But, I bet if you hyped the piece---- Then put it into a Heritage or ANR auction---in a catalogue---with pictures----then its "TRUE" Numismatic value would appear. Bob [supertooth]

[ibyandsellsmith]

I personally like errors, I usally go by the cherrypickers guide, Coneca. For specifics I like Vamworld, theres quite a few error coin clubs around with forums just like these, I currently dont belong to any of them, but the collector Society "with all do respect" is not the place for errors.

 

 

In answer to your question a rare coin only has a value once it sells, of course your's is worth more. The key is to get two people with a whole lot of money, and the stubbornnose of a *spoon*, or they just want the coin.