Understanding “error coins” from an investment or collecting perspective is crucial. Having a very small population of examples can be a major factor in price. That’s all part of the supply-demand equation, and it pertains to numismatic investors and collectors alike. The United States Mint is not proud of its mistakes becoming “error coins.” Many of the would-be errors do not exist because they are destroyed by the Mint when found in final or initial inspections. The more obvious the error usually correlates to higher values.

Heritage Auctions is kicking off 2022 with its Error Coinage US Coins Showcase Auction. The date is for January 3, 2022 and this appears to have some of finest and most unique examples available to collectors of all calibers.

Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. Many collectibles now cost thousands of dollars (or much more). Collectors with a passion to own one-of-a-kind error coins for years frequently have to compete directly against investors whose only desire is to make a profit in the future. Bids were as of mid-day day on December 28, 2021.

The coins featured in this auction to own are each unique and in many examples very early in American coinage. Heritage Auctions did not provide estimates:

1864 2C Two Cent Piece, MS65 Brown (with a current bid of $14,000.00). Heritage described the 1864 error like this (Image below by Heritage Auctions):

“The first strike was normal, except the obverse stuck to the obverse die. The reverse of the present coin then acted in place of the obverse die, striking an unknown number of planchets, fed in one at a time. The strikes against the planchets caused the coin to expand, and evenly wrap around the top of the obverse die. The reverse has a low relief and stretched appearance from the strikes against planchets. This error category is dramatic regardless of series, but it is exceptionally rare on a Gem Mint State example of an obsolete denomination.”

And there are many more error coins coming up for auction on January 3. Please note that “current bids” were as of mid-day January 28, 2021.

• 1942 50C Walking Liberty Half on a Silver Quarter 25C Planchet MS64 full date with a current bid of $8,250.00.
• 1944 1C Lincoln Cent overstruck on a 1944 Netherlands 10C, Doubled Denomination XF45 NGC with a current bid of $6,000.00.
• 1906-D $10 Liberty Eagle broadstruck out of collar MS65 PCGS with a current bid of $5,750.00. According to their Heritage Auctions description the collar die did not deploy when this first year Denver minted Liberty ten was struck.
• 1866 2C Two Cent Piece — Struck on a Cent Planchet — MS64 Brown NGC
• 1918 5C Buffalo Nickel struck on a 1C planchet, reverse tooled NGC Details VF with a current bid of $1,950.00.
• 1799 $1 Draped Bust Dollar struck 10% off center VF30 NGC with a current bid of $2,500.00 dollars. Heritage Auctions notes that most collectors have never seen an off-center Draped Bust Dollar.
• 1887 1C Indian Cent quadruple struck AU58 NGC (Image below by Heritage Auctions) last bid at $1,950.00.
• 1824 50C Bust Half Dollar double struck obverse VF20 PCGS with a current bid of $1,050.00.
• 1866 3C Three Cent Nickel Planchet Crack MS61 NGC with a current bid of $625.00.

By definition a trophy coin is one that is the nicest example that exists of the entire mintage of that coin. The extreme rarity of certain types of error coins are the examples we chose to follow. What has yet to be determined is if these unique examples will spark interest from collectors of other alternative assets.