Here are records of recent sales of double denomination & off-metal mint errors on eBay from October 1, 2010 to December 30, 2010.
1. All lots had buyers. If the coins actually changed hands is unknown.
2. A picture accompanied each lot or it was not recognized.
3. Blurry pictures or other problems are notated under “observation.”
4. Items mislabeled commanded a small premium.
5. Some lots changed hands more than once.
6. Any scratches, dents or defects notated were either in the description or grading service’s holders.
7. Auction houses that listed these errors were ignored.
8. Shipping charges are not included.
One of the most popular error types are double denominations. The high end “common dates” graded over MS65 have stabilized in price. However, the sellers are still not willing to reduce their ask price. Collectors need to realized that for some dates and mintmarks only a handful are known to exist. Eye appeal will generate a higher price paid than a grade.
When a new seller lists this error type and does not utilize quality pictures or descriptions, they sell for a fraction of their real value. Refer to the notes attached to the sold item. Prices have not dropped. It means the buyer may be able to turn a quick profit by reselling it. Keep in mind that eBay sales are a small fraction of the true error coin market. Dates, mintmarks and grading services all make a difference in value. Read over my notes to help you decipher the real market.
There are date collectors for off metals. Completing this may not be possible. For the collector that has been looking for specific dates to come on the market may have been waiting for decades. So, it is not unusual to see an MS64 example sell for the same price as an AU55. If you do not stretch for this coin, it may not show up on the market for another decade.
Off metals have a very high eye appeal. Cents struck on dime planchets have always peaked collectors interests. Same with nickels or quarters struck on cent planchets. Check out the price variance between an example that sells that has a brown color to one that is a full red. The red coin may bring twice the price due to EYE APPEAL!
Multiple errors on off metals are highly desirable. There may only be one example of an off metal struck off center. Or, double struck plus off metal.
Common are the 25c 1970-D on 10c stock planchet. Try and find examples for other years or on other denominations. These are very under rated and under valued error types. Some collectors hope to determine that these errors are actually struck on a foreign blank.
Check out the price differences for the 1970-D 10c struck on dime stock. The better the picture, the higher the bid. When the seller lists the coin and states: “You Grade It”, chances are the coin was cleaned or scratched. (Some of the grades listed below are a guess on my behalf.)
The problem with eBay, there are many coins being sold as off metals, off stock. See my chart below “Counterfeits/Questionable errors”. eBay has become a real “Dump and Run” auction site.