When a Mint makes a major mistake: Monday Morning Brief, February 29, 2016
What happens when a world mint makes a major mistake in making coins?
Coin World’s senior editor of world coins Jeff Starck
explores that question this week after an error version of a Proof
gold coin from Canada was discovered. Buyers of the low mintage coin
might not even know they have an error.
Full video transcript:
Good morning. Welcome to the Monday Morning Brief. I’m Jeff Starck of Coin World.
What happens when a Mint makes a major mistake?
I raise the question because of news that came out of Canada. The Royal Canadian Mint issued a Proof version of its five-nines fine gold $200 Roaring Grizzly coin, which was also issued in bullion. When dies were being made for the Proof coin, part of the maple leaf security feature present on the bullion coin design was replicated on the Proof die. That’s not all. Another die without the error was used in striking the Proof coin, so now there are two versions of the Proof coin.
Though the RCM has not confirmed this, the error apparently occurred during digital die production.
The Proof version only has a mintage of 250 pieces, but it’s possible that the RCM commissioned two or more dies as a precaution in case one was damaged, or to allow faster striking of the coins.
There is presently little to no market awareness of the error, and no differences in values between the coins. The coin sold out its mintage before release, and some of the 250 buyers may not even be aware of the differences. RCM officials are still investigating as we speak, but we’ll keep tabs on the story as it develops.
This isn’t the first time the RCM has created such an error. In 2013 the Royal Canadian Mint issued an unknown number of the Portraits of Power silver $20 Bald Eagle coins that are missing edge lettering.
Errors of these magnitudes are rare, but with hundreds of new coins coming out annually, they're bound to happen eventually.
For Coin World, I’m Jeff Starck. Happy collecting!
Connect with Coin World: