Definition & Collector Reality
Error coins are coins that contain mistakes made during the minting process at official government mints. These errors must happen during production – post-mint damage does not count as an error and has no numismatic value.
Why Error Coins Are Collected
- Uniqueness: Each error is slightly different, making them unique
- Scarcity: Modern mints destroy most errors, few escape
- History: Each error tells a story about minting processes
- Investment potential: Major errors can appreciate significantly
- Challenge: Finding errors requires skill and knowledge
Error Coin Characteristics
- Mint-made: Must occur during official production
- Escaped detection: Passed through quality control
- Non-reproducible: Each error is essentially unique
- Documentable: Can be traced to specific mint processes
- Gradable: Can be graded by PCGS/NGC with error designations
The Evolution of Error Coin Collecting
Early Error Collecting (Pre-1960)
Errors were largely ignored or melted:
- Most errors destroyed by mints
- Few collectors specialized in errors
- No organized error market
- Errors often spent in circulation
Modern Error Market (1960-2000)
Error collecting becomes organized:
- CONECA founded (1970s)
- Error price guides published
- Major errors achieve record prices
- Specialized error dealers emerge
Digital Error Era (2000-Present)
Online error market explosion:
- eBay enables error trading worldwide
- Online error identification services
- Social media error groups
- Digital error authentication
The Collector Mindset: Error vs Damage
Mint Errors (Valuable)
Occur during production at the mint. Caused by minting equipment or processes. Have numismatic value.
Post-Mint Damage (Worthless)
Occur after leaving the mint. Caused by circulation, cleaning, or intentional alteration. Destroy numismatic value.
Altered Coins (Scams)
Common coins altered to look like errors. Sold to unsuspecting buyers. Always verify with experts.