This Rare Quarter is More Valuable Than You Think
When we think of errors, we often think of a flaw that has no value. In the numismatic world, however, errors often work to the advantage of the person who owns an error coin. Such is the case with the rare 1970 quarter. According to USA Today, "The seller of a rare 1970 U.S. quarter is asking $35,000 for his coin." Though errors do not happen often, they certainly exist and often become a case study for what makes a rare coin so valuable and popular.
The Rare Quarter Mint Error
The 1970 quarter never made it into circulation and it is unlikely you will ever see another quarter of its kind. So just what was the error and what makes this error coin so valuable?
- The coin was struck over a Canadian quarter. Instead of being struck on planchets (blanks), the coin was struck over a 1941 Canadian quarter. Some of the details of that quarter can be seen faintly on the error coin. "Latin writing on the border of the original coin" is faintly visible on the obverse. "The '1941' date stamp is above the word 'Dollar'" on the reverse. (USA Today)
- These errors are incredibly rare. Part of the value of these coins is because they are so rare. Mint error coins do not happen often, but they are something that catches the eye of the public, especially those with numismatic interests. Although counter to our thinking, errors can be valuable in terms of coins.
- Severity of the error. Some mint errors are more noticeable than others. In the case of this 1970 quarter, the Latin writing on the side of coin is faint, as is the "1941" above "Dollar" on the reverse. It takes a trained eye to spot such an error. Other examples may be striking a coin with the incorrect year or where the design is slightly off center. The scale of severity is objective, but it does play an important role in value.
- How much attention the error garnered. This plays an equally important role in distinguishing value. Attention and popularity drive further value to anything, especially if it is an error.
(Source: USA Today)
The 1970 quarter will sell for thousands of dollars. Though rare, mint error coins can be just as valuable and important for collectors of all stages. The numismatic world is a large one filled with unique, interesting and rare coins.