Strike It Rich With Pocket Change, 3rd Edition

8/7/2019 Strike It Rich With Pocket Change, 3rd Edition

http://slidepdf.com/reader/full/strike-it-rich-with-pocket-change-3rd-edition 1/17



Strike It

RICH WITH POCKET CHANGE

Error Coins Bring Big Money

BY KEN POTTER & DR. BRIAN ALLEN

3RD

EDITION

No

Ex pe rience

Needed!



2 Strike It Rich with Pocket Change

Copyright ©2011 Dr. Brian Allen and Ken Potter

All rights reserved. No portion of this publication may be reproduced or

transmitted in any form or by any means, electronic or mechanical, including

photocopy, recording, or any information storage and retrieval system, without

permission in writing from the publisher, except by a reviewer who may quote

brief passages in a critical article or review to be printed in a magazine or

newspaper, or electronically transmitted on radio, television, or the Internet.

Published by

To order books or other products call toll-free 1-800-258-0929

or visit us online at www.shopnumismaster.com

ISBN-13: 978-1-4402-1578-0

ISBN-10: 1-4402-1578-2

Cover Design by Jana Tappa

Designed by Donna Mummery

Edited by Debbie Bradley

The photo of the $1 coin shown on the cover is courtesy of the U.S. Mint.

Printed in United States of America

Krause Publications, a division of F+W Media, Inc.

700 East State Street • Iola, WI 54990-0001

715-445-2214 • 888-457-2873

www.krausebooks.com



Strike It Rich with Pocket Change 3

FOREWORD

Some of my fondest memories of collect-

ing coins as a child involve searching the pocketchange of my parents and finding coins to fill one

of the “holes” in my Whitman folders. Searching

eventually expanded to include rolls of coins ob-

tained from local banks, but that same thrill was

there whenever I found a coin that would fill one

of those empty slots in my collection.

My entire Lincoln cents collection from 1941

to 1958 was pulled from pocket change except forone coin. The 1955-S cent eluded my searches.

It was a special day when my coin collecting uncle showed up with a

special present for me – that 1955-S cent I needed to complete that set.

I treasured the gift and kept pulling it out to look at it. In so doing I

noticed what looked like an extra “I” between the B and E of LIBERTY.

After some research I learned it was a minor error known as a BIE die

break error. It was minor, but it was listed with a premium and it led me

to a whole new area of searching pocket change.I began looking for oddities on coins and searching for other exam-

ples of BIE errors and this led me to the discovery of my first doubled die

in 1971. It was a 1971 cent with strong doubling on the letters of LIB-

ERTY. It is listed as Obverse Doubled Die #1 and is featured elsewhere

in this book. I was soon adding other nice doubled die varieties to my

collection from pocket change. That thrill of finding something special

for face value was always there and still is today.

Thanks to the efforts of Brian Allen and Ken Potter, you can sharein these thrills. Strike It Rich With Pocket Change is an excellent source

of information on what is out there waiting to be found. It provides you

with something I never had when I was doing all of my searching. It

provides you with information on valuable varieties already found by oth-

ers, and lets you know where to look to increase your chances for success

with your searching.

By becoming familiar with the contents of this book you may soon

be finding some truly valuable coins for face value. You may even findsome not featured here that may end up in future editions of this refer-

ence. Good luck with your searching!

John Wexler

John Wexler




BANKROLLED

TREASURE!!!!

This 1969-S Lincoln cent doubled dieobverse was discovered in a wrapped roll

of Lincoln cents in late 2007.

This coin was auctioned in January 2008and sold for an amazing ...

$126,500




POCKET CHANGE

TREASURE!!!!

The 1992 reverse “Close AM.”

Only four copies known to date.

$5,000 -$12,000




BANKROLLED

TREASURE!!!!

This 1970-S Lincoln cent doubled die

obverse was discovered in a wrapped rollin late 2007.

Although this coin has not been sold(to the authors’ knowledge) it could easily

sell for ...

$15,000 - $25,000




POCKET CHANGE

TREASURE!!!!

On Jan. 25, 2009, this

1972 doubled die No. 4 sold for

$2,250




NAKED EYE!!!

Look at the edges of a Jefferson Presidentialdollar and you just may notice one that does

NOT have the edge lettering.

A quick and simple look could net you ...

$2,500 - $4,000

BLANK EDGES = $$$$$

Jefferson photo courtesy of U.S. Mint




NAKED EYE!!!

Look at the edges of ALL Presidentialdollars and you just may notice one that

has doubled edge-lettering!

A quick and simple look could net you ...

$100 - $3,000

See the Dollar section for more details!

Adams photo courtesy of U.S. Mint




DEDICATION FROM KEN

From the very beginning of my

involvement in this great hobby,my brother Don was at my side.

In the early 1960s, we spent hours

together at Metropolitan Savings

and Loan on the corner of Seven

Mile and Evergreen in Detroit,

searching through Lincoln cent

rolls for early dates, anything with

an “S” mintmark, “steel cents,”and the occasional error. As we got

older we rode bikes to Livonia Mall

and attended the local coin show

and auction. We collected coins

from our pre-teen years all the way

into our adulthoods, sharing our

knowledge and exchanging ideas

on things like which coins would

go up in value the fastest or which

were the most beautiful designs. We visited numerous shops and admired

each others’ purchases or finds.

Our first real major discovery of a variety was together when, in response

to a Coin World article, we checked Don’s box of five Canadian 1973 proof-

like sets for the newly discovered “Large Bust” quarters, of which we were

lucky enough to find two.

Later we developed a devotion to the sport of fishing and purchased

a boat and motor and spent many hours together developing our skills onevery lake, river, pond, and stream we could find.

Don died of a heart attack at the age of 47 on Dec. 3, 1999. He was my

best friend and will be sorely missed. I dedicate this book to his memory.

Don (left) and Ken Potter show off their

catch in 1978.




DEDICATION FROM BRIAN

I have never put 40 years of memories

into one page and I don’t know if I cansuccessfully accomplish it now and give

my father the acknowledgement that he

deserves.

My Dad gave me the Zip-lock bag of

handed-down coins that got me started

with the never-ending enjoyment of

coin collecting. More over, he taught me

parts of life that one cannot read aboutor explain to others. Dad was a quiet

and reserved man who seemingly never

spoke out of turn, and through his silence

I learned numerous life lessons that I still

hold true and walk with every day.

I vividly remember eating a cinnamon

roll at the Clayton Café before he drove me to Boy Scout camp for my first

two weeks away from home. He would sit all afternoon below the broad-

leafed maple trees and wave at passing cars. He would sit quietly (very

quietly) on the grassy bank of Boosen’s pond, the water dam at Clayton

Lake and the cattle-hoofed mud at the Gerdes pond. I cherish every Saturday

morning that we rolled out at 6 a.m. to “beat the heat” or walk aimlessly

through the woods of Adams or Brown County hunting the elusive morale

mushroom that would certainly end up in a “perdy good omelet!”

From “wear and tear” on the car, omelets, fishing laws, peanut butter

(w/syrup), causes of flat tires, fly swatters, catfish bait, sleeveless shirts, deer

whistles, DOT hats, backup firewood, and Ray’s garage … I miss that man.I smile with the memories of “TOAST!,” the $20 hand-shake, Jay’s ball games,

peach ice cream, “feesh at Doesch,” stashing money in socks (before travel), and

Hannah Grace sitting on “Papa Dale’s” lap running her fingers through his beard.

I now laugh every time a door slams behind me or when I see a fly

on a TV screen, when I “heat the outside” with the door wide open, and I

chuckle at the memory of stepping on his broken toe.

On May 15, 2007, we lost a great friend, confidant, mentor, husband, Dad

and Grandpa. I can only hope to be half the gentle man that he grew to be.I speak for my entire family when I say that we love and miss you. There’s

not a day gone by that we do not think of how we miss your presence.

I dedicate this book to my Dad, Arthur Dale Allen, Feb. 5, 1941 –

May 15, 2007.

Arthur Dale Allen




TABLE OF CONTENTS

Acknowledgments .................................................................Page 14

Introduction ...........................................................................Page 15

Age Does Not Always Equal Value .......................................Page 17

Circulated Coin Conditions ..................................................Page 19

Uncirculated Coin Conditions ..............................................Page 21

Tools of the Trade..................................................................Page 22

Preserving Your Finds ...........................................................Page 24

Valuable vs. Other Forms of Doubling .................................Page 26

Treatment of Minor Varieties and Errors ..............................Page 34

Author’s Disclaimer .............................................................Page 36

Grades Covered in This Book .............................................. Page 36

Foreign Coins ....................................................................... Page 36

How to Use This Book ..........................................................Page 37

Lincoln Cent Varieties ...........................................................Page 38

Jefferson Nickel Varieties....................................................Page 129

Roosevelt Dime Varieties ....................................................Page 162Washington Quarter Varieties .............................................Page 196

John F. Kennedy Half Dollar Varieties ................................Page 236

Dollar Varieties....................................................................Page 248

Collecting Errors an Interesting Venture .............................Page 285

Buying and Selling Error, Variety Coins .............................Page 296Where to Sell Your Coins ....................................................Page 299




Sources for Coin Information .............................................Page 305

Coin Verification Providers .................................................Page 308

Membership Applications .................................................. Page 312

Myths About Various Coins ................................................Page 315

Common Currency Questions .............................................Page 322

Circulating Silver Coinage ..................................................Page 3241999-2009 50 States Quarter Program ................................Page 330

Coin Terms and Definitions ................................................Page 338

Bibliography ........................................................................Page 344

Recommended Reading ......................................................Page 346

Final Tips .............................................................................Page 350About the Authors .............................................................. Page 351

Photo courtesy of: Chris Welch

This 1988 Lincoln cent reverse has been polished to the point that the “FG” is n o longer visible. This variety has never been published and therefore is not extremely sought after. This

variety is available on the Internet for about $6.00.




ACKNOWLEDGMENTS

This book would not have been possible without the aid of the many

collectors, dealers, and researchers who contributed to the project. The

information provided by these persons and institutions assisted in numerous

ways, ranging from variety selection (what was appropriate for the book), pricing,

photography and layout. We would like to give special thanks and recognition to

the persons and institutions listed below for making this publication an enjoyable

and worthy project. The authors apologize to anyone who provided assistance

but whose name was inadvertently left off of this list.

To all those who made this book come together, thank you!

Abbott’s Corporation ANACS Chuck Avery Eric Axtell Don Barkeimer II Frank Baumann Peter BeanShawn Bell John Bordner Mike Bozynski Larry BriggsGary Burger Mike Byers

Richard CarlsonWendell Carpenter Jennifer CassanzaTom Cassidy Danny ChapmanChuck Chichinski Ron Ciampichini L&C CoinCoinWorld Curtis ColinStephen Colman Larry Comer

CONECA Billy G. Crawford Cumberland Coins & Cards Rich DarbyCharles Daugherty Mike Decarter Mike Diamond Gene Dorrough Mike Ellis Mike Fahey Bill Fivaz Kevin Flynn

Mark Goodman Pete Goydos James Griffin Jose Gutierrez Lloyd Hanson* Michael Harrison Richard Helbig Istaven Hendricks Herb’s Coins Alan Herbert Heritage Auction Galleries Heritage Coin Richard Imbaguria

Byron Jones Ken JonesGary Kelly John KnabeColin Kusch H.M. Kuykendall Frank LaBosco Jim LaffertyGJ Lawson Russ LeBeau*Gemma Leftwhich Lonesome John Devine

Mark LongasSam Lukes Arnie Margolis Jack Martin John Martin James P. McCarthy National Composites BJ Neff Erik Nielson NCADD NGC Don Norris

We would like to give special thanks to John Bordner, Billy G. Crawford,

Mike Diamond, Kevin Flynn, Numismatic Guarantee Corporation (NGC), J.T.

Stanton, Fred Weinberg, John Wexler, and the U.S. Mint website for supplying

and granting permission to use a number of the photos appearing in this book.

Numismatic News Aleksandr S. Ogansov Parker Ogilvie Ken Olson Bill and Debbie O’Rourke Neil Osina PCGS Ron PopeColleen Presbish Jim Proctor Garrett Reich Brian Ribar Jimi Ribar

Pamala Ryman James SegoSEGS Dave SerbonichGreg Sigalov Mickey Smith JT Stanton Andrew M. SuchanTeletrade, Inc. Robert Tucker D.O. Andy Turnbill U.S. Mint.com

Troy Watkins Ken Weaver Fred Weinberg Chris Welch John Wells John A. Wexler Dennis White James Wiles Ph.D.Tim Wissert Richard O. Wobbe

*deceased




INTRODUCTION

Why Search Your Pocket Change?

Have you ever knowingly spent $100 on a candy bar or $50

on a soft drink?

As ludicrous as the concept sounds, there is no doubt that

you have unintentionally done this numerous times without ever

knowing it. The fact is, billions of coins pass through the public’s

hands every day and of these coins, a small but significant

percentage contain variations in design or errors that make them

different than the rest. Many of these varieties are the target of

avid collectors who are often willing to pay significant premiums

to acquire them. Searching your pocket change can be fun and

profitable! It can be done alone or as a leisurely pastime with

the entire family.

In many ways, searching your pocket change for hidden

treasures is like accepting lotto tickets in lieu of your change

at the local grocer – except that you can never really “lose” bychecking your change. You certainly wouldn’t accept lotto tickets

without scrutinizing them to see if you’re a winner – so why

bypass the possibility of a quick windfall by failing to search

your pocket change?

The next Lincoln cent you look at could be worth $50,000!

Just two examples of error Lincoln cents that could be lurking

in your pocket change right now are the 1969-S and the 1970-S

“doubled dies.” Both coins were struck from imperfectly prepareddies resulting in a strongly doubled date and lettering on all the

coins produced from those individual dies.

Because tens-of-thousands of dies are required to produce

our nation’s coinage for just one year, and because errant dies

are often detected and removed from service early, it can be

extremely difficult to locate any of the coins produced from

an imperfect die. Both of the coins mentioned above appear to

be from dies whose flaws were detected early, resulting in veryshort runs.

While we freely acknowledge that you may never find a

coin worth this much, it is a fact that thousands of other coins



16 S ik I Ri h i h P k Ch

are circulating that are worth anywhere from $5 to $500 or more

and that are easier to find than you might at first think. Finding

them just takes a bit of knowledge as to where to look and a few

basic tools.

Coin collecting, known as numismatics, is one of the oldest

hobbies known to man. In the early days it was considered the

“hobby of the rich,” and even rulers of ancient kingdoms are

known to have collected coins. However, the collecting of Mint

errors and varieties is a relatively new dimension of numismatics

that has firmly established itself within the hobby in the last

several decades. The U.S. Mint’s new 50 states quarter program,

the introduction of a new dollar coin, and recent media attentionto several “rare errors” has spurred a welcomed increase in public

awareness of what can be found in circulating coinage, although

much of it has also led to misconceptions as to what is collectible

and valuable and what is not.

The purpose of this book is to dispel the myths and assist

you in discovering, marketing, and researching rare coins that

you can find in your pocket change. While its focus is on the

more valuable items that can be found, readers should be awarethat thousands of other less valuable varieties and errors, (that

fall into the $2 to $10 range), can be found in pocket change, and

that many others of great rarity and value can be found on older,

obsolete coinage generally found by searching dealer’s stocks at

coin shops or shows.

If we have whet your appetite sufficiently to have stirred an

interest in the “lesser items” or the obsolete coinage, we encourage

you to investigate some of the more specialized publications that

are listed later in this book.

Documents

Strike It Rich With Pocket Change, 3rd Edition