Major mint errors surface : Monday Morning Brief, May 8, 2017

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Published : 05/08/17
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Four rare off-metal Lincoln cent errors from World War II have recently been certified by Numismatic Guaranty Corporation. The coins came from the estate of a deceased Philadelphia Mint employee and several are heading to auction.

Read the full transcript below: 

Good morning. Welcome to the Monday Morning Brief. I’m Jeff Starck of Coin World.

How would you like to discover extremely rare coins worth hundreds of thousands of dollars in a box that was otherwise bound for the trash?

That’s what happened recently, when Florida collector Michael Pratt discovered two previously unreported copper alloy 1943 Lincoln cents and two other major rarities.

These coins have been authenticated, graded and encapsulated by Numismatic Guaranty Corp.

The two coins are among four wrong-planchet Lincoln cent errors — three dated 1943 and one 1942 — that Pratt inherited upon the 1992 death of his father, Albert Michael Pratt, a former die setter at the Philadelphia Mint.

Michael Pratt says he has no evidence of how the wartime cents came to be in his father’s possession, since he doesn’t recall his father discussing the coins while he was alive.

The intended alloy for Lincoln cents struck in 1943 was zinc-coated steel, since copper was needed for military applications during World War II.

Copper-alloy 1943 Lincoln cents were struck at the Philadelphia, San Francisco and Denver Mints.

The four Lincoln cents certified by NGC are:

A copper alloy 1943 Lincoln cent, graded NGC Mint State 62 brown.

A copper-alloy 1943 Lincoln cent with major die break, graded NGC MS-61 brown.

The major die break, referred to in the error specialty field of the hobby as a “cud,” occurred when a portion of a coin die broke and separated from the die.

A 1943 Lincoln cent struck on a planchet intended for a silver Netherlands 25-cent coin, graded NGC MS-61.

A 1942 Lincoln cent struck on a planchet intended for a brass 20-centavo coin of Ecuador, graded NGC MS-63.

All four NGC grading labels bear an Albert Michael Pratt pedigree.

Dealer John Zieman and Pratt plan to consign the copper-alloy 1943 Lincoln cent with major obverse die break and the 1943 cent struck on a Netherlands coin planchet to Heritage Auctions’ upcoming August sale.

That auction will be held in conjunction with the American Numismatic Association World’s Fair of Money in Denver.

The NGC MS-62 brown 1943 Lincoln cent is being reserved for inclusion in Heritage’s January 2018 sale in conjunction with the Florida United Numismatists Convention in Tampa.

The full story is out now in Coin World, and you can be sure we will continue reporting on these coins through the coming months.

For all the news about coins and paper money, follow us on Twitter, find us at Facebook, online at coinworld dot com and of course in print in your mailbox.

For Coin World, I’m Jeff Starck. Happy collecting! 

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4 comments
So, once again a mint employee has illegally made some "error" coins for his own collection. Now, his estate is going to benefit by multi-millions of dollars at the taxpayers' expense. When is the government going to put a stop to this. It is obvious that the coins are not "errors" as they were intentionally produced illegally.
Very interesting. One wonders how these happened.
Not a MONA LISA in a Hobby of a King ! Penny On Dime 1995 the very first ever authenticated/certified in public at Baltimore Convention Center Coin Show in Maryland on March 2000. Large Crowd and many witnesses. Was auction on eBay worldwide 2014 and recieved highest offer of SEVEN MILLION US Dollars still DECLINED the Low Ball Offer. -This coin personally authenticated and Graded by a Master Professional coin grader and Inventor of coin/sport cards slab none otherMr. Alan Hager of Accugrade. An extra ordinary Doubled Denomination with no assigned Numerical number as Graded as 1995 Penny On Dime-ACG MINT.- The most expensive/popular coin error doubled denomination andaccidentally minted in US Mint. A major DRAMATIC coin error and Monster Crack Die Variety. Two Full dates1995 obverse, 2 LIBERTY, 2 IN GOD WE TRUST,VDB, P Mintmark, skul Break, Crack Die variety, perfectly round withvery neat rim and reeder dime, etc.
Correction for a year date of eBay auction of 1995 Penny On Dime. It was January of 2013 and the Highest offer recieved is just only SEVEN MILLION US Dollars. A Low Ball Offer. Penny On Dime 1995 will challenge all common Doubled Denomination from Two Tails to Two Heads all original details plus all variety. Same SIde a Coin not a Flip over one. Obverse I think is also HighRelief a Lincoln Profile overlap Roosevelt Profile.. etc