World Coins

Pobjoy Mint makes error on silver Pegasus coin

The Pobjoy Mint has inadvertently created a rare error coin, a Pegasus 2-ounce silver dollar that features the wrong application of frosting, creating a doubling effect.

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The Pobjoy Mint has inadvertently created another rare error coin.

The 2018 Pegasus silver dollar was properly struck as a Brilliant Uncirculated 2-ounce coin, but when reverse frosting was applied in creating the Reverse Proof effect for the piedfort mintage, a template for frosting a portion of the 1-ounce coin was mistakenly overlaid on the coins, according to several sources.

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The coins were struck for the British Virgin Islands

The error created a “doubling” affect on wording indicating the weight of the coin, which appears below the horse.  This “doubling” means that the wording shows both 1-ounce and 2-ounce weights, somewhat overlapping.

Beth Caspar, Pobjoy Mint USA representative, declined to explain the mechanisms behind the error, but would confirm that “around 200 pieces exist” from the mintage of 5,000 Reverse Proof piedfort (double thick) coins.

The 2-ounce piedfort edition complements a Reverse Frosted 1-ounce bullion version that is limited to a mintage of 50,000 pieces, which was not affected by the error.

Jamie Morris, of Modern Medallics, is a distributor for the Pobjoy Mint, and submitted examples of the error to Numismatic Guaranty Corp., which has graded and encapsulated examples in Mint State grades. 

The 2018 Pegasus coins show the mythical horse rearing up, his wings spread. The obverse features the Pobjoy exclusive effigy design of Queen Elizabeth II with a Reverse Frosted effect. 

The 2018 coins follow the release of the 2017 coins, the first Pegasus coins from the Pobjoy Mint. 

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