I visited Fundy Coins and Collectables on Saturday to pick up an auction item that had been waiting there for quite some time and had fun chatting with Steve and Jim. While there, thumbing through one of the counter bins and intently listening to one of Jim’s stories, this little cent caught my eye.
The words “metal flaw” were inked on the 2×2. Upon closer inspection, after getting the 1930 USA Lincoln wheat cent home, I could see quite a nice lamination error in addition to an improper alloy mixture, which gives the copper coin and wood grain appearance. Some collectors seem to be drawn to such coins and they are often referred to as “woodies.”
Recently a 2000 Proof Like 5 cent error was put on eBay with a price tag of $20,000. The coin was minted with two reverse dies, as indicated on the PCGS slab. Since, to the best of my knowledge, there is no way for such an error to occur without a little help from some mint employees, it would seem this would fall under the category of a “back door job,” or something contrived by someone inside the mint’s facility – in this case, Ottawa, since it was a proof like coin – and smuggled out.
Would you be willing to purchase such an error? Should such coins be allowed to exist or should they be deemed illegal and confiscated? Let us know your thoughts in the comment section below.