Glenn B. asks: What is meant by the term “re-colored” as used by some of the grading firms? Thanks.
Toning is natural on metals such as silver and copper. Re-coloring refers to applying an artificial patina to a coin. Silver, nickel and copper are chemically active and will oxidize to different colors depending on the depth of penetration of the metal. This happens when a coin is exposed to an active chemical such as sulfur, often used in the manufacture of paper, cardboard and canvas bags. The patina usually takes a great deal of time to develop, anywhere from a decade to centuries. Collectors often prize toned coins for their aesthetic appeal. (See: Why are toned coins so much more expensive?)
Artificial toning is often applied in order to cover up some flaw on the coins surface. The flaw could be an area that has been repaired, scratched or cleaned. The patina appears shallow in depth and often shows sudden changes of color to the surface instead of a smooth transition, especially if the coin has been exposed to high temperatures. In some cases, toning has been applied to deceptively inflate the desirability of the coin to those unfamiliar with the “look” of natural toning.
The technique for applying artificial toning often begins with stripping the coin of all oxide. Removing patina with a mild acid that is in such products as Jewel Luster also removes the oxide layer. This process removes metal and therefore reduces the amount of luster that is usually present on a uncirculated coin. The luster of a coin, the effect that causes light shined on a coin to move in a circle, is caused by flow lines created when a coin is struck. When you dip a coin, you are also removing the flow lines and thus the luster as well. Sometimes no more than two dippings will turn your uncirculated coin into one that is AU. This factor is one of the diagnostics that are used to identify “re-colored coins”.
Betty O. writes: I`m trying to locate a $500 bill for a gift to a very young collector. Are there ever any available?
Yes, from paper money and coin dealers. Expect to pay anywhere from $150 to $350 over face value for circulated notes. They haven’t been issued since 1934. They are not available from banks unless you find someone depositing one and the bank lets you have it for face value. The banks are currently instructed to return them to the Treasury for destruction. They are still legal tender and probably will keep that status indefinitely.
This is a pretty nice gift for anyone, especially a young collector!
Frank S. asks: What’s a “Double Denomination” error note? What does that even mean?
Though they are rare, Double Denomination notes are known to exist and are considered the King of paper money errors. United States paper money is printed three times. The notes are printed on sheets of 12, 16, or 32 subjects, depending on the era and denomination. First the back is printed and the sheets are allowed to dry in a room separated from notes being printed in other steps of the process. The second printing is the face and the third printing is the Treasury seal and serial numbers.
To make this error. A sheet or sheets would have missed the first printing, gone through the 2nd printing, dried, flipped and taken through the 2nd printing again. Only about 55 notes have been reported with double denominations. We say “about” because some have been reported but not seen. The only double denominations known so far are:
Rikki D. writes: I have a silver penny (I think) that was created in 1986. I wanted to know if this penny was worth anything or is a collectors item. Please let me know. Thanks
You have a zinc cent missing the copper plating. Cents have been minted on copper plated zinc flans since 1982. This error is fairly common and is caused by the plating not adhering correctly when the sheets of coin metal are rolled. This error is called a “Full Lamination”. Value Range: $10-$15. See: United States Clad Coinage
Silver Cents have never been minted in the United States. The only possibility of a Lincoln cent being on a silver flan would be a rare occurrence where a silver dime blank was mixed with Lincoln cent blanks. Since a dime is smaller than a cent the planchet would be stretched to fit in the collar when it was struck. The resulting coin would be distorted and very thin. It would also weigh 2.5 grams vs. the standard copper Lincoln cent weight of 3.11 grams. Also, no silver dime blanks existed in 1986. They were discontinued in 1964.
There seems to be a plethora (I like that word) of plated coins used for promotion. You can tell if its just a regular cent by weighing it. A barrel plated zinc cent weighs 2.5 grams.
Michelle asks: Dear Coin Doc, What is the 1/2 cent? I have seen pictures in my history book that say something like, “Potatoes, 5 1/2 cents a pound.” What is it? Please let me know as soon as you can! Thanks! Sincerely, Michelle
The half cent coin takes the honor of being the first official United States coin denomination minted for circulation when the Philadelphia Mint open its doors in 1793. The coin went through several design changes and was finally discontinued in 1857.
This lowly coin was the mainstay of the millions of small transactions that took place in the early American market place. Though they were minted in large numbers not many high grade pieces survived. Although half cents are scarce they have not yet reached the popularity of other series and therefore prices are comparatively modest.
Duane S. writes: I received in change from a parking garage a US quarter. Upon close inspection it had been precision milled to contain an inner-secret-chamber, perhaps to conceal something. I only discovered this when the vending machine would not accept it. I looked at it and found it was constructed of 2 pieces. The quarter was milled down in the center, and a replacement section was created to fit into the milled out center. It fit together so well you could not tell it had been altered from 2 quarters to make 1. The fit was so perfect, only a hair line groove was noticeable.
I live near the Washington DC area and it seemed conceivable to me that someone could use this type of coin in “less than noble” activities. (Hiding microfilm, who knows). Yes, a spy quarter seems strange, but feasible. What is the first thing you do when you get arrested or pass through an airport x-ray, you empty your pockets of coins and you are given them back at the end. Any comments? Is something like this “Collectable”?
See the FAQ and read the article on “Magic Coins” for a bit more information about two coins made into one.
You weren’t clear if you had discovered whether the coin opened. That kind of coin is called a “box” and there are many who enjoy collecting them. Box coins have been around as an art form for hundreds of years. See the screw-turn box coin made from a 1639 Augsburg State (Germany) Thaler pictured on this page.
Many collectors like to fantasize about smuggling microfilm, or in the case of the 19th century Trade Dollars, opium. – hence the name “Opium” boxes. This is a bit misleading as this coin box was probably not used to carry opium. Yes, they may very well have been used to hold some personal, secret or illegal contents. But more commonly, many of these “box” Trade dollars were actually used as “keepsakes,” with a picture of a loved one inside. In any event, the art form stands on its own.
Trade Dollars circulated in China as a trade unit. Opium was prevalent there and China was also the place where many of the boxes were made as novelties. The relationship to China, Opium and the Trade Dollar gained this creation the American tag “Opium Dollar”.
Donna H. writes: My question is regarding not a coin, but a token. These are about 2 times the size of a silver dollar and brass. They were issued during the gold rush days and appear to be tokens given or won in a gambling or drinking establishment for exchange for sexual entertainment. A few have the state such as, Nevada. I have 8 or nine of these tokens. Some have the establishment name and what they may be exchanged for. Are they worth anything other than funny conversation pieces?
These are modern brass fantasy pieces but the legends were copied from the much smaller genuine merchant and bawdy house tokens. The originals were made in gold colored brass, nickel or bronze.
Brass Checks, as they were called, were used as currency in the Western United States from as early as 1840. The traditional custom involved three roles, that of the girl, the “Madame” and the “boss”. The customer would buy the tokens from the Madame. The usual rate was one silver dollar per token or six for $5. The token was used to pay the girl that the customer selected. The girl stored the token in an inaccessible container. In the morning all the tokens were turned in to the boss for an accounting.
As the law began to catch up to the west, tokens took on more subtle designs and legends and even more importance. The exchange of money was the defining action to whether an illegal act took place. In some places the token was often purchased from a madam, sometimes not even in the same location. The token was tendered to the bar keep. The customer would receive a drink and a numbered key. Since no money, not even the token changed hands with the girl, the law could be successfully circumvented.
The collecting of Bawdy House tokens is a interesting pursuit and traverses many eras (tokens are mentioned in the works of Epicurius of Ancient Greece). You may have modern “shells” but you may find this an excellent place to start your own collecting pursuit.
Edward R. writes: I am a young coin collector and I also have a large amount of knowledge about coins. But I was stumped when I found two 1986 pennies which had the spelling IIBERTY. Their condition is around an EF-40. Is there any record of this error? If so, would they have as much value if the error was not recorded?
I also have a 1954-s Nickel with a backward “C” in the middle of Monticello. It looks like there could have been some sort of rotation, but I seriously doubt it. It is possible that the coins could be counterfeit, but I do not know how to figure that out. It would be a great help if you had any knowledge or found any information about these three coins.
Your coin was probably struck from a worn die. When dies wear out the letters begin to appear less distinct and distorted. This can be caused not only by wear but by the periodic polishing that mint employees do to keep the dies smooth and free of debris. Late die state coins also show strong die erosion, especially near the rims. The lettering also appears less distinct toward the edge of the coin. Since all working dies are complete when transferred from the master hub, there is no chance of accidentally spelling LIBERTY, IIBERTY. If such an event got by all inspections, every die and therefore every coin would have this error.
Do coins from late die state or damaged dies ever bring a premium? Yes, the 1937-D 3-leg Buffalo nickel and the 1922 Plain cent are good examples. Both of these coins were victims of severe die polishing of worn dies.
Your backward “C” was created by a punch, probably so the nickel could be identified. For example, in the 70’s and later, restaurants and bars had quarters painted with red nail polish to “feed” the juke box. When the service person came to collect the money from the machine the quarters with nail polish were returned to the proprietor.