The Amazing Branch Mint Error Rarity Graded VF35 by PCGS

Coming on the heels of Heritage’s offering of a 1943 bronze cent struck at Philadelphia in their January 2010 FUN Auction, Heritage has just sold this 1943-S bronze cent in the February 2010 Long Beach Auction.

Few coins are so misunderstood, so mysterious, so legendary as the 1943 cents struck in bronze, known informally as the 1943 “copper” cents.

In 1943, the U.S. Mint switched from bronze to zinc-plated steel for cent coinage in an effort to conserve copper for use in World War II. Over a billion “Steel Cents” were struck by the three Mints combined in 1943, though a majority of the known 1943 “copper” cents were struck in Philadelphia, not Denver or San Francisco. Fewer than 20 are known.

Most experts believe the error occurred when left-over bronze planchets were mixed with a batch of the new Steel planchets that went through the usual striking methods, then escaped into circulation.

An article by Gary Eggleston stated “In the June issue of the “Numismatist,” 1947, it was reported that a Dr. Conrad Ottelin had discovered a 1943 bronze Lincoln Head cent. A few weeks before Dr. Ottelin’s discovery, Don Lutes, Jr., a 16 year old from Pittsfield, MA, found one in his change from the high school cafeteria. Then in 1958, a boy named Marvin Beyer also found the 1943 bronze cent. With the publicity from all three finds, and estimates that these coins could sell for at least 5 figures (at that time) at auction, a national frenzy was created. Every man, woman and child sifted through their pocket change looking for their fortune.” (more…)

U.S. coins struck with dies of different denominations are extremely rare. Until recent years, none were known.

The most famous among those are the Sacagawea dollar reverse, paired with a statehood quarter obverse, of which ten examples are known, per Fred Weinberg.

In Heritage’s April 2006 Central States Signature, a 1999 cent with a dime reverse hammered down for $138,000, the largest prices realized for an error coin in a Heritage auction, excluding the 1944-S steel cent that sold for $373,750 in our 2008 ANA Signature.

Aside from malfeasance of a mint worker, the muled denomination error is only possible when the denominations involved are similar in diameter. A cent is 19 mm, and a dime is 17.9 mm, a difference of 1.1 mm or approximately 5%.

Given the billions of cents struck annually at the Federal mints, it was inevitable that an absent-minded worker would pair cent and dime dies.

Presumably, the mistake was discovered and the struck pieces were destroyed before dispersal, with the single exception of the present survivor.

This lustrous Gem shows the characteristics expected of a cent and dime mule. The dime side has a broad, tall rim, since metal was forced into the collar of the dime die by the wider diameter cent die opposite. As a result, the cent side has a soft strike near the rim, since metal in the vicinity flowed into the dime collar.

This coin is being offered for sale at Heritage’s 2010 FUN Auction as Lot 2383

Important U.S. Coins to Cross Auction Block in January

Bowers and Merena Auctions, America’s leading rare coin and currency auction house, will commence its 2010 auction schedule with the Orlando Rarities Sale. The auction will be conducted on Tuesday, January 5, 2010, beginning at 6 p.m. ET at the Doubletree Resort-Orlando International Drive. Pre-sale lot viewing will take place in the same location January 3 to 5 from 9 a.m. to 6 p.m. each day.

“2010 promises to be another exciting year for Bowers and Merena,” remarked Steve Deeds, president of the firm. “The year will certainly begin on a high note with our eagerly anticipated Orlando Rarities Sale. Many important coins are included among the highlights of this sale, and bidding promises to be spirited for all U.S. coin series and types.”

Continued Deeds: “Among the leading rarities set to cross the auction block in our Orlando Rarities Sale is an 1851 Augustus Humbert Fifty-Dollar gold piece with an extremely important, previously unknown engraving error.

Nominally an example of the Kagin-2 Lettered Edge variety—itself a scarce variety with a Rarity-5 rating—this particular piece is missing the digits 88 in the inscription 880 THOUS, resulting in a partially blank scroll on the obverse above the eagle.

A discovery piece that has been certified AU-55 by PCGS, this coin is sure to warrant the undivided attention of Territorial gold specialists.”

Deeds also called attention to highlights in the regular issue United States silver- and gold-coin series. “We will also be presenting a low-mintage 1916 Standing Liberty Quarter graded MS-65 Full Head by NGC, an elusive 1796 Draped Bust, Small Eagle Half Dollar of the 16 Stars variety in PCGS/CAC VG-10 and an exquisite 1879 Flowing Hair Stella rarity that NGC has certified as Proof-66 Cameo.” (more…)