Penny Jackpot! Find of the century! No-Millenium!

[smokeythecat]

I've been doing a lot of pennies lately, and have nearly filled a complete Lincoln set, with some notable exceptions. The banks are getting cranky and you should get the dirty looks I get when I go in to pick up coins.

So I went a little different direction and started buying 5,000 count mint sealed bags of various dates. Now they do cost more than what you'd get at the bank but there are the chance of blank planchets, off center strikes and other errors you would not get in rolls. I was marginally successful in the first three bags of 1975's and 1979's. Actually I only got a few keepers.

Then I took a huge chance, as in HUGE, and got two bags of uncirculated 1972-P's. I found a 1972'P double die out of change not long ago, and got enthused. AKA excitable.
Well, I have gone through all TEN THOUSAND COINS. The snow storms helped. No blank planchets and no off center strikes and no clips.

HOWEVER, I found about SIX of the 1972 double die type 6's, with clockwise rotation. I found SIXTY of the very distinctly doubled type 8's. Three have been sent out to get slabbed (dealer said they'd probably come back MS-63). And, check this out, over TWO HUNDRED FIFTY of the type 3's. They are stronger images than the type 6's but not as strong as the type 8's.

That's over 300 double dies in two bags. Holy cow Batman, now what? Besides getting some cleaner pictures.

 

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[Omega]

What are those worth?

 

[oakhunter27]

That's awesome I always look through my change

 

[Hillbilly Joe]

Sweet find!

 

[smokeythecat]

I don't know the value. MS-63 on average, so $18 to $100 each, depending on what the market will bear and if I spend the $30 each to get them slabbed, then more. But I'm only slabbing a few. I'm getting the Cherrypickers Guide in a few days, so maybe that will help me with the ID more. I have a fortune tied up in these things.

 

[Omega]

300 coins at 18-100 each is $5,400-$30,000. And if you have 30 each average, that's sill $9,000. Something doesn't feel right here....?

 

[smokeythecat]

What doesn't "feel right" is I don't want to bother trying to sell them! At least not until I get the slabbed ones back in 4-6 weeks. I'm really tired of the Ebay thing and have only sold a few things in the past couple years. My investment was in the 4 figures, btw.

 

[Peyton Manning]

I read that whole thing and don't understand a word

 

[smokeythecat]

Jeff, that's because you now look like Johnny Depp. In simple, bought 10,000 pennies. Paid WAY over face. Way over. Seriously way over face. Very seriously way over face value. Found double dies (see pics or go to coppercoins.com.) Or try "1972 double die Lincoln" on Ebay.

Sent some to a dealer to get the professionally graded. They'll be back in 4-6 weeks. There were numerous "type" of double die "errors" in 1972. I have three of the kinds. And for you experts out there I know they are not really considered errors. But mint "varieties". Bottom line, had a great time, didn't go blind and now can "play" with the pennies for the next few weeks until its warm enough to go out and dig but I did go to our favorite beach today and got pretty much skunked. The other bottom line is, if I decided to sell some I can get my money back by selling about half of them. And keeping the other half! Joy!

 

[Peyton Manning]

and you paid over face why?

 

[smokeythecat]

It was basically a gamble, pure and simple. The dealer I got them from had individual coins he was selling (I did buy some before I bought the bags to see for myself), and he had got them from a third bag he opened. It was basically a semi educated gamble. Most times I either get what I pay for or get done in pretty good. This time I won. Big time. I've tried this with large quantities of wheat cents and have done good, including last week a poor man's 1955 double die, maybe $5 for a 2 cent investment. On the other hand, the rolls of 1995 P pennies which could contain double dies, I've lost on. Fortunately I had the money to gamble with. If this had been done on credit it would not have happened.

 

[Diver_Down]

Smokey, what I don't understand is that someone who is so interested in errors/varieties why do you still insist on calling them double dies? There are not multiple dies striking a planchet. The doubling exists on the die, hence it is called a doubled die. Another point, and I don't want to come off as snobbish, but any respected numismatist would never call a cent a penny.

By the way, nice finds. Best of luck recuperating your investment.

 

[smokeythecat]

I think once upon a time ago when dinosaurs walked the earth I heard someone call them double dies and it stuck. And mom said penny. Also, I'm not a numismatist. (That's one reason I took a few to get graded.) Before I attempt to sell any I'm going to make really sure I've got my facts right. Basically, I just like finding cool stuff. For me it's the chase, not the having. Thanks for the input.

 

[BigWaveDave]

pennys pennys pennys

 

[smokeythecat]

pennies pennies pennies pennies cash in stocks and bonds for pennies pennies pennies....will retire at 108.

 

[enamel7]

Also, they aren't errors they are "varieties". So you bought these from a dealer? You also mentioned mixed dates. I wouldn't expect to find anything in those other than what you would find in a bag from the bank. I may be wrong, but I don't think the mint sold bags of mixed dates. Never the less, nice finds!
HH
enamel7

 

[Joe777Cool]

I was expecting this thread to be about a 1909s vdb struck off center on a gold planchet with die cracks that looked like the face of Jesus.

Now that would be the cent find of the millennium!

 

[smokeythecat]

Joe77cool, now you got me laughing. But that would be the face of the virgin Mary, if we keep to form. But anyway, I bought a lot of stuff this week, and apparently the 1972's were in the bags of 72's. I got some boxes at the bank and also some put together bags of Wheaties of mixed dates and parentage, sorry I wasn't clear, they just happened to be in cloth bags. Was a busy week. How bout a box full of Templeton Reed gold coins, uncirculated of course. Those would be nice. I've read about them but never saw one.

 

[CoinHuntingDrew]

Maybe you can tell me what type this may be:
I found a 1972 P last box with doubling under the top curve of the "2"
Anything major?

 

[enamel7]

Can't tell without pics. Probably md.