Misdated 2010-D Zachary Taylor Presidential Dollar Error
A new type of error has been discovered for the Presidential Dollar coin series. A Zachary Taylor Dollar was found with the date "2010-D" appearing on the lettered edge, rather than 2009. The Zachary Taylor Dollar was the fourth release of the Presidential Dollar series for the year 2009.
The error coin was first reported by Coin World and has been authenticated by NGC. The NGC holder indicates "2009 D $1 Zachary Taylor with 2010 D Edge Letter Mint Error" and is graded MS 64. This represents the first time that the an edge-lettered US Dollar has been reported with the incorrect date.
Earlier in the Presidential Dollar series other types of errors involving the edge lettering were discovered. The most widespread error occurred when thousands of George Washington Dollars were released without the edge lettering. Changes in Mint procedures made the occurrence of missing edge lettering much less frequent for later coins of the series. Other error types have also included doubled edge lettering and lettered blank planchets.
The misdated Zahary Taylor Dollar error coin was discovered by collector Gary D. Laird. He found the coin in a roll of 2010-D Native American Dollars purchased through the US Mint's Direct Ship Program. Rolls of this year's Native American Dollars were first offered through the program on January 4, 2010.
The latest issue of Coin World reports that the US Mint has recalled 700,000 2010-D Native American Dollars that had been designated for the Direct Ship Program, following the discovery of the error. These coins were at the coin wrapping company.
If you have any 2010-D Native American Dollar Rolls from the US Mint's Direct Ship Program- keep an eye out for this new error type. So far only one misdated Zachary Taylor Dollar error is known to have been discovered.
Labels: Presidential Dollars
posted by Mint News Blog @ 7:48 AM
33 Comments:
I wonder what a Z. Taylor dollar coin is doing in a Native American roll? Must be strict quality control or lack of it. Thanks for the heads up Mike.
Oh, crud. I already got rid of mine to a local coin dealer, sold unopened. If my boxes had an error, someone else will get to be the lucky finder.
That coin could very well be a one-of-a-kind type. A lone Zachary Taylor coin that fell into the wrong bin. Man, if no more are found, I wonder what that would sell for? Wow!
Finally, something very interesting !
Don't be surprised if 2010 becomes known as a bountiful year for error coins of all kinds. We have an error prone gov't and that characteristic is bound to filter down to all federal bureaus.
Some Mint employee probably tossed the Taylor coin in the Native American Dollar bin on purpose, just to see if anyone would actually look at the coins and find the error!
Anyone entertain the possibility that Moy toyed with the notion to salt a few in order to attempt breathing life into another failed program. Trying to counter unwanted amms produced coins by manufacturing "errors". Wouldn't put it past the Mint by trying to create artificial excitement. Everyone remembers the "error" found on the Silver Eagles 2 years ago. By using the "wrong" die, the Mint had everone running to scoop up hundreds of thousands of unsold coins with the hopes of locating one of the errors.
It never ceases to amaze me to read "instant go find the rarity" on a regular basis. Last year it was the wrong spouse on the Presidential, and the list goes on.
Is the Mint kidding anyone expect for their bosses?
The mint must stamp the edge of the coin last...
It must have coins without edge printing from last year, this is very curious indeed.
Does anyone know the procedure the mint uses for pressing coins?
Over the edge...
Coin World's article went into some depth on theories about how this error occurred. Apparently, the 2010 Native American dollars were being created in late late 2009 soon after they stopped the presses on the Zachary Taylors. All dollar coins (NAs and Prez) are made relatively in the same area and they ALL use the same edging machines and inscriptions. It seems from the description of how things work, there is definitely the possibility that a couple of stray had-not-been-edged-yet Taylors were still in some of the bins they use to carry dollar coins from the coin presses to the edging machine.
For all you pessimsts on gold, look at how the dollar is up today as well as silver and gold. This is a great sign even with the news of IMF's sale of 200 tonnes of gold.
We also had news that Soros had tripled his holdings on "gld" so we are seeing more and more people jumping on the PS market! We could see a slight drop but prospects look great long term.
It's too bad the coin only got an MS-64 grade. However, if no more turn up, the lucky finder will still be sitting on a gold mine. Who wouldn't want to own the only known example of a coin variation?
I doubt the Mint did it on purpose. If they had, why would they go to the trouble and expense to recall the coins already at the wrapping facility? The fact that they want to make sure that no more of the coins get out other than what has already been distributed leads me to believe that it was a genuine mistake.
Remember when the wrapping facility told the Mint that they found quite a few Monroe dollars that were struck on quarter planchets? The Mint hauled them all back and destroyed the errors. I don't guess any of those escaped the recall, since I've never heard of any being found. That would have been a cool one to own.
They have a saying at the mint," find one error coin
(cockroach), you'll find thousands".
I think it is a waste of tax payers dollars to sort through thousands of coins to find any additional error coins. In the long run the mint would actually make more money if it let more error coins escape. Just my opinion.
I was thinking it was a waste of time and money myself, John. Everyone makes mistakes at least once in a while, and the Mint is no different. Why should they go to such lengths to try to undo their mistakes?
I doubt the mint will search for the error. 700,000 coins will be destroyed at taxpayer's expense. What a waste of money. Why not let coin collector taxpayers search for the error at zero cost to all the other taxpayers in the country? That idea is plain old fashion common sense!
Old adage in a business downturn when you are stuck with inventory no one wants and won't buy: create a false sense of excitement / urgency and make the rubes think they "just have to it". Clears the shelves almost every time.
Anyone think the Mint is not beyond the same? They've shot themselves in the foot so many times, with Moy on the trigger, they need to apply any kind of bandage that has a shot at stopping the bleeding. Yes, it's a negative way to think, but having seen the rapid deterioration of quality and products, the downslide looks like a super-G run in Vancouver. Shame really.
Commnent to Moy toyed post ; That makes everyone open sealed rolls for spending/circulation. As for the silver switch reverse two years ago ,that was the only order lost in the mail and never found in 20 years ++++ of ordering direct ??????? Banks will not sell new stock coins in mass quantities only a roll or two why??? Thanks to Mike for the heads up...
Banks don't even HAVE the Native American Dollars. In fact, several of my local banks know I collect coins (how could they tell, the way I pester them so much), and have even asked me to get them some of the NA$ for their customers. So that's where part of my direct ship boxes go to...my local banks who appreciate receiving some. Technically that is probably not what the Mint wants, but since they're still being distributed it shouldn't matter. I just doubt that they would buy that reason if I tried to send an e-mail to the address provided and offered that as my explanation as to why I should be exempted from the 20 box household limit!
When I first read of this error I almost fell for the mints trick to get me to order the presidential dollars through the direct ship program but I decided against doing it.
Now that no more error coins have been found I am happy I didn't do it or else i would have hundreds of those dollar coins to get rid of. I think was was done for publicity and nothing else for the dollar coins.
"Now that no more error coins have been found I am happy I didn't do it or else i would have hundreds of those dollar coins to get rid of. I think was was done for publicity and nothing else for the dollar coins."
There you go, now you've got it. You can expect another 2 or 3 "errors" to pop up in other failed program offerings this year. Moy or whom ever is advising him on selling tactics must think he's fooling grade school children. Dazzle the rubes at the carnaval once, and you can play it over & over in every town thereafter. Pity, it takes so little effort to do things right the first time.
Off topic, The Braille Education Set seems to be holding a small premium, any chance on a Palladium UHR becoming a reality?
Anyone have a fix on the gold Buffalo...will the mint make a 2010...or should I buy a couple more 2009's before the mint moves the herd?
Goldilocks
I think it would be very unlikely that the Mint would not make a 2010 Buffalo Proof coin. However, even if they don't, I would think it's wise to steer clear of any remaining 2009's, unless you don't mind having to hold them for quite some time before they could be sold profitably.
On the other hand, if your only interest in them is to own them as beautiful coins that you don't care about the resale value of, then that would be another story.
The bottom line is, just buy what you want and can afford.
Personally, I prefer the bullion Buffalo to the proof version.
But what I really want is the "proof" gold eagle. That would make me happy!!...and of course the proof Silver Eagle too.
Off-topic, but at this point I think it's pretty well certain that the 2009 Uncirculated and Proof coin sets are going to be secondary market "dogs" now, as long as they've been on sale. Leave it to the Mint to screw us over once again. I'm not even going to buy ANY 2010's. I'm sick of this.
I wouldn't be so quick to call the 2009 proof set and uncirculated sets dogs. And for them staying around as long, that's not unusual either.
First of all, as an example, the 2007 proof set was still available up near the end of 2008 and sold 1.7 million. Right now, the 2009 proof set is around 1.4 million.
The 2009 uncirculated set is a little over 720K still slightly below 2008's mintage (which sold out in late February as well). Not to mention, most past uncirculated sets use to have mintages over a million. In addition, we know from Ebay auctions, that MANY MANY MANY of these sets have been broken up to sell the copper pennies separately. As in many cases with mintages, the reported mintage is never really the REAL available mintage. After the 2009 uncirculated set sells out (in about 3 months?), give the market about a year... and then I think you'll see some significant premiums for unbroken sets.
From what I see in the market right now, I think the 08 Gold Eagles are selling at a huge discount vs the buffalos. I know that the mintages are a lot less for the buffalos but still I think these will be the next big winners since not so many are not able to afford the buffalos.
Regarding the Buffalos, I wish I had coughed up about another $2,000 to buy a 4-coin Proof set before the Mint's sellout. I bought two of the 4-coin Uncirculated sets from them in late 2008, since they were around $100 cheaper per set and had a lower mintage.
It's kind of funny that despite the recent revelation that the mintages were HIGHER than previously reported for the Proofs and LOWER than previously reported for the Uncirculateds that the Proofs still sell for more. However, the gap seems to be narrowing. I could probably sell one of my Uncirculated sets right now for around $6,000. That's not a bad return for an investment of $1,902.45 a mere 15 months ago.
I still think the Uncirculateds are a huge sleeper right now, since two of the four coins in the set have mintages below 10,000 coins, with one of them being the all-important 1-ounce coin. I say that because the 1-ounce size is the one that has been made in both bullion and proof versions since 2006 with no gaps. The 2008-W is a necessary part of any complete set of all types of 1-ounce Gold Buffalos, and with barely over 9,000 available, it should forever be in demand.
I noticed too that the gap for the UNC's are getting better. The 1 oz UNC is definately the king of all Buffalo's. The one are that I see a gap is also the fractinal 1/2 oz fractional buffalo. They are not seeing the premiums that the 1/10 oz and the 1/4 oz are demanding. I think things will change once people want the have the whole set.
Follow-up to my February 18th 11:02 AM comment:
I was able to get one of my "Direct Ship" boxes of 2010 D Native American Dollar rolls back from the coin dealer I sold them to. He originally only wanted one box of D in the first place, but I sold him the second box of D that day at face value just to get rid of them. That was only the day before I found out about the error.
Either he had not heard about the error, or he did not care. He still wanted one box of P rolls, so he was willing to trade one box of D rolls back to me, so I traded him a box of newly-acquired P rolls for the original box of D rolls from before. That way, I was able to get them back at face value.
Now, I have 10 rolls to either sell to gold-digging prospectors in search of the error, or I can open them up to search for the error myself. At least now I can get some benefit out of the discovery in some form or fashion.
I wonder if anyone thought to check out rolls of the Zachary Taylor dollars to see if by chance any of the 2010 Native American Dollars ended up in those with the edge-lettering meant for the 2009 coins? That would be a nice complement to the 2010 Zachary Taylor error: A 2010 Native American Dollar dated 2009.
I have a Lincoln coin 2010 D with a circle in the center and I do not know how can I get a value or sent the picture to evaluated
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