A Mint Error Coin Can Make You a Lakhpati

02 May 2020  Sat

Unlike flaws in expensive gems or cracks in jewellery, errors in coinage are exciting and lucrative for collectors. Flaws are rare and are typically caught in production, however, you might be lucky enough to spot an unusual defect in a coin that can add significant value to its market worth. If you do happen to find a rare error coin, don’t throw it out for its flaws: its unusual appearance may benefit you in the future.

There are five common production mistakes that can easily be identified in these rare error coins. The first among these is off-centre struck coins; when the blank metals were being fed into the mint press, they were inserted incorrectly. As a result, the machine strikes unevenly against the coin, distorting its round shape.

The second most common kind of production error you might find in your coins are wrong planchet or denomination errors. When a coin is fed into a press that is designed for another denomination of currency — for example, one rupee struck on a 10-rupee planchet, it does not fit properly. The result is that the coin will have an unusual and incorrect weight for its particular denomination.

Collectors might also encounter double struck coins, coins that were produced when a mechanical error caused the planchet to be struck more than once by the die. Because of this error, these coins will bear two or more designs on both their obverse and reverse sides.

When too little pressure is applied to a coin as it is struck, it results in a faded or indistinguishable design on the obverse or reverses side of the coin. These are referred to as dying adjustment strikes. They are among the least common error coins that you might find.

The fifth variety of error coin occurs when something that does not belong - like oil, staples, or cloth - enters into the planchet or the machine before it is struck. When the coin has been struck, you can see the impression of the foreign object on the surface of the coin.

Collecting coins of different varieties has never been easier than it is today. Although mint error coins are rare, the odds are good that you might come across a few as you expand your collection. If you do find a rare error coin, hold on to it, may be worth more than you think.

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