Pocket Change & Dug Coins???

[tri trackers]

Pocket Change & Dug Coins

We are new to looking for error coins. Basically we are looking in pocket change and our MD'ing finds. We normally come up with pennies in our finds. So bought loupe, Stike It Rich w/ Pocket Change book and have spent about 10 hours w/ lincoln cents w/ zero error coins found. I read this article today http://www.coinworld.com/news/111201/editorial.asp. Which says most error coins are taken out of circulation.

1). Is it impossible to find anything in pocket change?

2). If it is a dug coin does that make it worthless?

Thanks!!
tri trackers

 

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[prospectorYorkPA]

Re: Pocket Change & Dug Coins

patience is a virture. Error coins are not all that common. You can spend hours looking and find nothing. But then find the great kahuna. Never know when it's going to pop up. Just as an instance, opened a roll of new 2007 cents at work and found this.

 

[prospectorYorkPA]

Re: Pocket Change & Dug Coins

to finsh up my post, hit the done before I finished. It's a die adjustment strike. Not something you find everyday. Not worth a ton of money, but more than the 1c I paid for it.
The other cent came out of the same roll for reference.

 

[tri trackers]

Re: Pocket Change & Dug Coins

Thanks Prospector,
I guess it's alot like going MD'ing at the beach to find gold. It's a crap shoot. Have you ever found something in pocket change or do you just go buy rolls?? Ever found anything out of the dirt?? Or if it's in the dirt is it worthless??

tri trackers

 

[idahotokens]

Re: Pocket Change & Dug Coins

Tri--
In 45 years of collecting coins, I have never found an error coin more serious than a filled die on a Lincoln cent. I was pretty serious about looking through rolls early on, but have only checked pocket change in the last 40 years. It amazes me what is found, though.
As far as the value of dug coins - for the most part, the better the condition of a coin, the more collector value it has. Proof and uncirculated coins top the list, and value goes down as the amount of wear goes up. Of course some common coins are worth just face value in uncirculated condition, so the condition doesn't matter. When a coin hits the ground and is buried for some time, its condition changes for the worse. Depending on soil conditions, that change can be small or great. One of the most common effects is discoloration, usually a darkening of the surface, but the effects can range to to where the coin is eaten away by chemical action. In the case of darkening, that may be a detraction from value (interestingly, silver coins can oxidize in the air and the effect is called "toning" which some people say adds value). Of course, if a coin is eaten away to the point of being unreadable, the value is likewise gone. But, bottom line, being in the ground lowers the condition grade of a coin, and therefore the value, but it doesn't automatically make the coin worthless. If given the choice between finding a 1916-D coin with my MD or being given one from a coin shop in the same grade, I'd take the former in a heartbeat.
John in ID

 

[tri trackers]

Re: Pocket Change & Dug Coins

Thanks Idaho,
I am going through last couple of years saved pennies (very slow process). Have found a handfull of wheaties, a 1999 clashed die "prisoner cent" (what's that worth .50 to $5.00?).
What would you say is the best denomination for finding errors?? Nickels? State Quarters?
If it is nickels I will start having to not discriminate them out.

Thanks,
tri trackers

 

[AMorgan]

Re: Pocket Change & Dug Coins

I have found an 1876 CC double die obverse dime while detecting. I didn't know of it's existance until I looked the coin up in a krause coin book... It is listed in the cherry pickers guide.

Alan

 

[tri trackers]

Re: Pocket Change & Dug Coins

Alan,

Nice Find!!! The oldest I have found is a '40 wheatie while MD'ing. How far down was the 1876??

tri trackerers

I have found an 1876 CC double die obverse dime while detecting. I didn't know of it's existance until I looked the coin up in a krause coin book... It is listed in the cherry pickers guide.

Alan

 

[AMorgan]

Re: Pocket Change & Dug Coins

It was about 3 inches deep in a plowed field...

Most of the surface scatter indicated that the site was mid to late 19th century.

Alan