Uniface Proof 65 5-cent errors; rarely seen on the market
- Published: Apr 2, 2015, 10 AM
Striking error coins look unusual and are the result of something going wrong during the minting process. They teach us about how coins are made, and error coins enjoy a dedicated following in our hobby. Each error is unique, and many are dramatically weird in appearance.
There are lots of ways to collect error coins. Some collectors elect to focus on a given error type, such as an off-center strike, while others collect a range of errors across a denomination or coin type.
Here is one of three pricey “nickels” Coin World is profiling in its latest Market Analysis that have traded at auction recently that represent the high-end of the market:
Uniface 1972-S Jefferson 5-cent coin, Proof 65
Errors on Proof coins are unusual because Proof coins are specifically manufactured with special care for a collector audience, as opposed to coins that are intended for circulation and produced in large numbers.
This 1972-S Jefferson 5-cent coin has a design on only the obverse. As Heritage describes the situation: “Two Jefferson nickel planchets were fed between proof dies, with one planchet precisely aligned above the other. The collar die prevented any diameter expansion.” Heritage added, “The reverse is slightly wavy and nearly featureless, since it was struck against a planchet instead of the reverse die.”
This example was graded Proof 65 by Professional Coin Grading Service and the auction had its mate (the planchet with the reverse impression) as the next lot.
The obverse example sold for $1,116.25 and the undated reverse impression (although noted as 1972-S by PCGS in parentheses since the date is known only by context of being submitted with the obverse) sold for $998.75, both at Heritage’s Jan. 9 Florida United Numismatists auction.
Read the rest of this Market Analysis: