Error Coins Collecting is Fun!

Big profit:  If you found a major error coin and a willing buyer.

Investment: Spending some time holding coins by the top and bottom and turning them around.

Risk: "Some of our friends used to brand us as people with strange characters who have a   peculiar  habit !"  Quoted by Blogger Whycollect.

How can something in my change be worth more than face value?
The answer is any coin that is a genuine minting variety and error coin and shows some kind of deviation or difference from the majority of the coins in your pocket ,is likely to have extra value to a collector.This is because through the vigilance of the Mint's quality control staff,only a small number of the important mint varieties and error coins escape.

Mint varieties and error coins that have collector value and are more likely to enter circulation are those that don't affect the diameter of the coin.If the finished product is normal size,it's more likely to get through the minting,counting and bagging process,ultimately arriving in circulation.Coins that are oversize or undersize are less likely to get out of the Mint,and consequently may have higher collector value.

In the normal size category are coins with die cracks,(raised lines of coin metal),or die breaks,(raised areas of coin metal).They are the easiest to find because dies frequently crack,or break during use,so they are worth less.Those coins with major class die breaks,extending from edge across the rim into the field or onto the central design will bring anywhere from RM20.00 to RM 30.00 for a cent,or even more if the die break is especially large!

A major die break is approximately a
 third of the die broke away,causing
this raised area at the left (reverse),
The obverse is shown as well,the
 missing details and the depression
is a typical indicator that this is a
 genuine error coin.This is worth
 RM100 to RM180.00 depending
on the grade of the coin.
Size is not always a guarantee of value.An off-center strike,where the dies hit only part of the planchet and the coin is larger than a normal,may sell for RM20.00 to RM30.00 if the date isn't showing;and up to twice the price if shows the date. With these prices we are talking about coins of recent vintage. As a general rule,the large (and usually the older) the coin denomination the more value that something like a die break or an off-center strike is going to have.

Classic examples of normal size coins with mint errors (die gouge) that have escaped into circulation in Malaysia are the Malaysia Parliament series coins;
1982-5 cents,UNC condition with extra "DOT" on Parliament House worth RM110.00 to RM160.00. 1979-50 cents,UNC condition with extra "DOT" worth RM100.00 to 180.00 and
1988-50 cents,with extra "DOT" priced at RM30.00 to RM40.00
 in Steven Tan 19th edition (2010-2012) catalogue. (To be continued..)


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