Coin Collecting Errors

Coin collecting is a popular pastime that can be very rewarding. However, like any hobby, mistakes can be made that have a negative impact on the overall enjoyment of the activity. This article explores the most common coin collecting errors and offers solutions on how to avoid them.

A key mistake that many new collectors make is not using reputable resources to learn about the hobby. It is important for new collectors to familiarize themselves with the grading and guide books that are used in the numismatic industry. The Whitman Red Book is a popular resource, but there are others that are available as well.

Another mistake that many new collectors make is not focusing on their goals. It is helpful for new collectors to create a wishlist of coin programs or error coins that they are interested in acquiring. This will help to focus their attention and effort on pursuing the rarest coins and completing a set in a timely manner.

Mistake #3: Not Researching Error Coins Before Purchasing

It is important for new collectors to understand how errors occur in the minting process before they begin collecting them. This can help them spot potential mistakes and determine the value of a particular error coin. It is also important for new collectors to learn about the different types of errors and what makes them unique.

For example, lamination errors can occur when flaws in the metal cause parts of the surface to peel or crack. Multiple strike errors are when a coin is struck more than once and fails to properly eject between strikes, leading to overlapping images on the coin. Wrong planchet errors are when a coin is struck on a planchet that is not the correct size for the denomination.