(Newport Beach, California) — Professional Coin Grading Service of Newport Beach, California (www.PCGS.com) is offering a $10,000 reward for the first person who submits for verification a genuine, Sacagawea golden dollar coin mistakenly struck with the edge lettering intended for the new Presidential dollar coins.
The coins depicting Native American, Sacagawea, who assisted Lewis and Clark on their exploration of the Louisiana Purchase, are supposed to have smooth, plain edges. The new Presidential dollars have incuse edge lettering that includes the year of minting and the mottos, In God We Trust and E Pluribus Unum.
“Even with the Mint taking steps to carefully produce coins, valuable errors like these could happen. We’ve already seen, certified and graded some Presidential dollars that have no lettering on the edge,” said Ron Guth, PCGS President.
“The United States Mint is still making the plain-edged Sacagawea dollars while also striking literally hundreds of millions of the Presidential coins. Sooner or later, we believe a Sacagawea coin will be erroneously made with lettering on the edge, or will be over-struck with the both the Sacagawea and Presidential designs on the same coin. We’ll pay $10,000 just to be the first to authenticate them.
PCGS also is offering a $2,500 finder’s reward for the first blank Presidential dollar it receives where there is only the edge lettering but no design on the front or back.
“It’s possible that a planchet intended for a Presidential dollar might only get struck for the lettering around the edge, and not go through the earlier ‘heads and tails’ part of the minting process,” explained Guth.
“We’re asking the public, collectors and dealers to carefully look at their money. You could find a fortune in your pocket change if it’s the ‘right’ dollar that’s been made wrong.”
That is a hefty reward for something that can only theoretically exist. But with the thousands of errors already reported with the new Washington Presidential Dollar being only months old the likelihood of such on error existing is very good.
Presidential Dollars by the stack are found without edge lettering.
Technically this error would be called a “mule”, a single planchet struck with dies intended for different coins. While the obverse and reverse would be for the Sacagawea, the incuse lettering would be made by the machinery for the Presidential Dollars.
This entry was posted
on Monday, March 12th, 2007 at 3:30 pm and is filed under Adult Pastimes, Numismatic Monday.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
1,252