We’re planning on another amazing year for error coins. We expect prices to move up dramatically in every category. Some of the biggest moves will be in Off Metals, Type coins errors, 2003-2004-2005 dated errors, and other unusual errors such as Die caps, Fold-Overs, Unplated Cents, Multi Strikes, missing Clad layer quarters, SILVER error coins, Indian 1c & Buffalo nickels. Did I miss many? If I did, expect great gains on those too.
Many are purchasing whatever hoards are available and stocking them for resale. One recent error coin purchase by a coin dealer almost reached 1 Million dollars. NOW these are not the regular error coin dealer names that you may be familiar with, but rather major numismatic corporations that have never dealt in errors before. With all this going on and so little available in the market, dealers will pay top dollars for “Better” material (notice I stated BETTER material) that will catch the collecting eye of their customers.
So what should you buy? I would suggest, the very BEST you can afford. Don’t mortgage your home, but if you have some extra money, buy the highest grade, most eye appealing error coin(s) you can afford. One more suggestion, make sure it’s certified by NGC, PCGS or ANACS. If not for you, then for the coin dealer who may eventually want to purchase it and may not know that much about errors. He will feel much more comfortable offering you top dollar for something certified.
The January FUN show (Jan. 4th-8th) in Orlando Florida will also be a barometer as to what to expect in 2006. Look for any reports by error coin dealers about this show. The FUN show is the 1st major convention of the year and almost every major error coin dealer attends. Most major auction houses have numerous errors listed in their auctions and many collectors & dealers alike use the activity of the convention as the year's error coin barometer.
Want to learn so more about errors before buying? Why not take one of 2 error courses offered by the ANA at their summer’s seminar. For more information go to: money.org