Rich off Error Coins was built to help everyone learn about valuable error coins that can be found in your spare change. Many people have never heard about errors like the transitional error coin or the doubled die error. They have no idea that coins like this sell on sites like eBay every single day for anywhere from a few dollars to hundreds of thousands of dollars! Take the 1990 No S Proof Penny for example. This Lincoln Memorial Cent is listed in The Cherrypickers’ Guide to Rare Die Varieties of United States Coins with a price of $6,250 in PF-67 condition! Even in the less cosmetically pleasing condition of PF-65 you can still get $4,500!
So as you can see, hunting for error coins can be quite profitable… if you know what to look for!
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The error we are going to talk about today is actually a huge group of errors. Planchet errors are…. you guessed it! Any error coin with an error that has something to do with the planchet. For those of you that didn’t know, the planchet is basically a blank coin. Once it is struck with the image, it is a coin. Before that it is a planchet.
Learning the minting process will greatly help you along your way to getting rich off error coins because you can learn to identify each type of error!
What is a Planchet?
A coin starts out as a big sheet of metal and eventually becomes the loose change that you carry in your pocket.
Blanking is the first step of the minting process. It involves cutting out little circles out of the big sheet of metal. Once those little circular pieces have been cut from the sheet, they are called coin blanks. They don’t actually become a planchet until they have a rim.
For a coin blank to become a planchet, it must first go through the upsetting mill. This is the third stage of the minting process. You can find more on the stages of minting a coin throughout this website.
The Mint has a machine called the upsetting mill which raises a rim around the outside of a coin blank. Once this has been accomplished, the blank has officially become a blank planchet.
Different types of Planchet Errors
Now that we understand what a planchet is, let’s talk about some errors that can occur dealing with the planchet….
Some planchet errors are more common than others, but even so, they are all rare. Because of this, some carry a value of around $20 each while others, (like the wrong planchet) can have a value of millions of dollars! Yes, Millions!
Let’s start with the planchet errors on the lower end of the price spectrum.
Clipped Planchet- this can happen when a misfeed occurs during the blanking. The machine that cuts out the coin blanks can sometimes cut improperly shaped blanks because the metal strip is lined up wrong. There are a few different types of clipped planchets that can occur.
A straight clip is a coin with a straight clip across a side of the coin blank. This will happen if the punch overlaps the leading edge of the metal.
A curved clip can occur if the hole punch overlaps the spot where the previous coin was cut from. This misalignment will leave a curved edge on the coin.
An irregular clip is a clip that is not straight or curved. This clip will be jagged and irregular.
The clipped planchet error can sell for various amounts. The price depends on how much of the coin has been clipped and what type of coin was clipped. Here is a basic price list you can go by.
|Indian Cent (1859-1909)||$10 -$100|
|Lincoln Cents (copper)(1909-1982)||$1 – $60|
|Lincoln Cents (zinc) (1982- )||$1 – $10|
|Steel Cents (1943)||$10 -$200.|
|Liberty Nickels (1883-1912)||–|
|Buffalo Nickels (1913-1938)||$15 – $80|
|Jefferson Nickels (1938 – )||$1 -$50.|
|War Time Nickels (1942-45)||$10 – $200.|
|Barber Dimes (1892-1916)||–|
|Mercury Dimes (1916-1945)||$10 – $50|
|Roosevelt Dimes (1945-1964)||$5 – $150.|
|Roosevelt Dimes (1965- )||$5 – $100.|
|Washington Quarter (1932 – 1964)||$25 – $100.|
|Washington Quarter (1965- )||$3 – $75.|
|Franklin Half Dollar (1948-1963)||$20 – $50|
|Kennedy Half Dollar 1964||$10 – $400.|
|Kennedy Half Dollar (1965- 1969)||$10 – $75.|
|Kennedy Half Dollar 1970||–|
|Kennedy Half Dollar (1971- )||$10 – $60.|
|Morgan Dollar (1878 – 1904), 1921||$50- hundreds possibly thousands of dollars|
|Peace Dollar (1921-1935)||$45 – hundreds possibly thousands of dollars|
|Eisenhower Dollar (1971-1978)||$30 – $400.|
|Susan B. Anthony Dollar (1979-81),1999||$50 – $100|
I found this information at a website called Fleur-de-coin.com. You can find some very interesting information on their website. I recommend you checking them out by clicking the link provided.
“The chart below is intended as a representative example of what might occur to cause incomplete planchets. In actuality, the planchet strip is up to 18″ wide, and gang punches may have up to 80 dies to punch the blanks. The numbers in the diagram are meant to represent 5 actions of the punch. The first, second and third are normal. The fourth punch has slipped (likely due to a loose guide), causing the punches to overlap the edge. The 5th punch also overlapped the edge, and overlapped the end of the strip as well. As you can see by the drawing, these various misaligned punches cause the incomplete planchets described above.”
Another type of error that can occur to a planchet would be improper planchet thickness. The strips of metal are rolled
Another type of planchet error that can occur is improper thickness. Sometimes the planchet will be too thick or too thin for different reasons. Each coin has a specific thickness it must be made to. Sometimes the metal strips are rolled to thin, causing a thin planchet and possibly underweight coin. The opposite can be true also. These errors can be checked with a caliper. You can buy a caliper at sites like Amazon for around $20.
Another planchet error is the Lamination Flaw. A lamination flaw can occur from metal impurities or even from internal stress. Lamination flaws can cause uneven surfaces, peeling, discoloration and even splitting. Some of these flaws can be valuable and others are not.
Blank Planchet – A blank planchet is exactly what it sounds like. It is a coin that is missing the image or impression on it. The coin will be plain and flat and it must have the upset rim or raised edge. The blank planchet error can sell for various amounts depending on the type of coin it was intended to be.
Here is another chart I pulled from Coinsite.com You can find some valuable information there also.
Blank Planchet Errors and Blank Coins
|Coin||Flat Edge or blank coin||Raised Rim or blank planchet|
|Indian Cent – Copper-Nickel||$100.||$100.|
|Lincoln Cent – Copper||$3.||$2.|
|Lincoln Cent – Zinc||$1||$1|
|Lincoln Cent – Steel Zinc Coated (1943)||$20.||$25.|
|Nickel -Copper Nickel||$3.||$3.|
|Nickel – War Time Alloy||$300||$400.|
|Dime – Silver||$35.||$35.|
|Dime – Clad||$1.||$2.|
|Quarter – Silver||$100.||$60.|
|Quarter – Clad||$10.||$5.|
|Half Dollar – Silver||$60.||$25.|
|Half Dollar – 40% silver||$125.||$85.|
|Half Dollar – Clad||$20.||$20.|
|Dollar – Silver (Morgan/Peace)||$400+||$400+|
|Dollar – Eisenhower||$50.||$50.|
|Dollar – Susan B. Anthony||$35.||$35.|
|Dollar – Sacagawea||$35.||$35.|
Wrong Planchet Errors = $$$
The last error we will discuss today is the wrong planchet error. This is by far one of the most sought after error out of all errors. These errors are few and far between. Because of this, finding one of these bad boys can actually bring you wealth! Im not talking about a few hundred dollars….. I mean real wealth!
A wrong planchet error occurs when the planchet for one coin is struck by a die that was intended to strike a different coin. Take the famous 1943 copper penny for example.
In 1943 the United States was at war. In an attempt to save money, The Mint quit using copper to produce coins since it was needed for production of many other necessities of war, like ammunition casings and wiring for boats, planes and vehicles. Instead we used zinc coated steel to manufacture the 1 cent coin.
Steel proved to be a horrible idea for using as coinage because of the rust. The zinc would have prevented the rusting, but a default in the minting process caused the coins to all rust eventually. That’s another story for another day.
All 1943 pennies should be made from zinc coated steel, however, some have been found made from copper! This could have happened from some leftover coin blanks from the previous year being left in the hopper. No one knows exactly how it happened, but we do know that these babies are extremely valuable!
PCGS certified a 1943-D Lincoln Cent a while back and it sold for $1.7 million dollars! Read more about this at PCGS News!
Some other examples have sold for hundreds of thousands of dollars. The 1944 steel cent is another example of an extremely valuable wrong planchet error coin. Read more about the 1944 steel cent here at Rich Off Error Coins!
Finding error coins like these can be rewarding in many ways, especially financially. Error coin hunting is a fun hobby that anyone can pick up. You can search through coins with family members and in the process, get to spend quality family time together.
If you would like to learn more about hunting error coins, make sure to register for a membership to Rich Off Error Coins. You can do so for free by clicking here or at the bottom of any other page. All members are eligible to receive a free gift too! Remember to like us on Facebook and follow us on Twitter for more valuable information like this. Once you register for a free membership you will have access to the forums where you can upload pictures of your coins to show other members. Ask questions about your coins on the forums and other members will respond and help you to correctly identify your coins. This will greatly help you on your journey to getting rich off error coins!