While it is a known fact that some historic coins are worth far more than their intrinsic value, most individuals would not expect a batch of pennies to be sold for $1.1 million. Yet, that’s exactly what happened when a collection of 1958 double-die error coins went up for sale in 2023. However, not all coin errors are created equal. Find out all the various types of mistakes possible with our coin errors list and which errors on coins are the most valuable.
What Are Error Coins?
Error coins are imperfect coins with mistakes that occur during the minting process itself and slip into circulation, sometimes referred to as mint errors. An important note: Wear and tear that may have worn down high points or rubbed off design elements is not considered an error on coins and typically lowers the coin’s value.
When Errors on Coins Are Worthwhile
With billions of coins minted every year, error coins still occur today in all mints and currencies. However, just because a modern coin may have a misprint does not automatically mean the owner is sitting on a newfound fortune. Like with all coin values, factors such as age, rarity, and condition still play a significant role in determining what, if any, value the errors on coins carry.
While there is no perfect coin errors guide that can provide an exact value for every possible mistake, there are a few notable coin errors known to numismatists. Currently, some of the most sought-after error coins are worth over $100,000. Most recent valuations project a few of the following coins to be worth the most:
- 1942/1 Overdate Mercury Dime – valued at $120,000 in 2018
- 1975 No S Proof Roosevelt Dime – a rare proof coin misprint valued around $450,000, with only two in known circulation
- 1943 Copper Lincoln Penny – with only an estimated 15 in existence, these pure copper pennies could be worth over $1 million at auction
The Most Common Coin Errors List
While mint errors are generally broken down into three main categories—planchet errors, die errors, and strike errors—a true coin errors list will contain many more. This is because there are several types of mistakes within each larger category. Here are a few of the most common issues in each error type.
Planchet Errors
- Wrong Planchet – When a planchet for one denomination is accidentally used for another denomination. For example, a quarter being struck on a nickel planchet.
- Blank Planchet – A blank disc that was intended to be struck but skipped in the process—an error that is seen more commonly on modern coins.
Die Errors
- Double Die – Different from a double strike, a double die is when the die (or pattern) itself has a slight misalignment, causing a doubling effect most easily seen on words and numbers within the design.
- Die Cap – Forms when a coin becomes stuck to the upper hammer of the die. It creates a rim-like error around the edge of the coin.
Strike Errors
- Off-Centers – A more common error is when a coin is misaligned before striking, causing only a partial design to be struck onto the blank.
- Reverse Strike / Strike Through – Also a common error. When an object gets between the die and the blank, it causes the impression of a foreign object or a dent/fracture on the design.
- Double Strikes – The opposite of an off-center. Rather than one partial design, these coins are struck twice, creating a duplicate partial on top of the correct design.
How to Spot Coin Errors
While most people will not casually come across rare, highly valuable coin errors, plenty of modern mistakes exist among actively circulating coins today. For those interested in sharpening their error-hunting skills, start by looking at current coins. Most errors can be spotted around dates, lettering, or the edge of the coin. Beginners can use a magnifying glass to help amplify the design, and professional grading services or expert appraisers can evaluate error coins that may be of value.
More Tips for Numismatists
Pinehurst Coins believes coin collecting is more than just searching for your next acquisition. We provide educational resources beyond a coin errors guide to encourage and assist numismatists of all levels. Learn more about evaluating coins with our post, Most Valuable Coins Ever Sold.
Ready to collect error coins yourself? Explore our error coins section, full of mint errors like double dies and blank planchets. Shop Error Coins