Wednesday, March 07, 2007

US Mint Mistake - Some Dollars don't Trust in God.

A number of the new US One Dollar Coins, the first in the new Presidential series featuring George Washington, escaped the Philadelphia mint and entered circulation missing the inscription "In God we Trust" on the Edge of the coins.

U.S. Mint goof: Unknown number of new dollar coins missing 'In God We Trust'

Joann Loviglio / Associated Press

PHILADELPHIA -- An unknown number of new George Washington dollar coins were
mistakenly struck without their edge inscriptions, including "In God We Trust,"
and are fetching around $50 apiece online.

The properly struck dollar coins, bearing the likeness of the nation's first
president, are inscribed along the edge with "In God We Trust," "E Pluribus
Unum" and the year and mint mark. They made it past inspectors and went into
circulation Feb. 15.

The U.S. Mint struck 300 million of the coins, which are golden in color and
slightly larger and thicker than a quarter.

About half were made in Philadelphia and the rest in Denver. So far the mint
has only received reports of error coins coming from Philadelphia, mint
spokeswoman Becky Bailey said.

These coins are currently selling for a premium on Ebay:
Ron Guth,
president of Professional Coin Grading Service, one of the world's largest coin
authentication companies, said he believes that at least 50,000 error coins
were put in circulation.

"The first one sold for $600 before everyone knew how common they actually
were," he said. "They're going for around $40 to $60 on eBay now, and they'll
probably settle in the $50 range."

So don't expect a fortune if you find one, and given there were at least 50 thousand released with the missing inscription, its unlikely they will appreciate much beyond the expected $50 premium anytime soon, so if you got 'em, join the hordes now on ebay where they are selling like crazy for $200 plus.

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