New Dollar Coins

Yesterday as I was heading out to lunch a fellow coworker stopped me to say "Hello". He noticed I had a small handful of the new Presidential Golden Dollars in my hand, which I was going to use to pay for lunch. He hadn't seen them yet, so I showed him the coins. If you haven't gotten one of these new dollar coins, you should stop to your local evil bank and ask for them. The government is going to mint four different $1 coins each year for the next 11+ years. Each coin will have a different president on the front, called the "obverse", of the coin, and all of them will have the Statue of Liberty on the back, or the "reverse". They are a golden color, and even though they aren't real gold, they are cool to look at. This year they have already released coins with George Washington, John Adams, and Thomas Jefferson. Anyway, back to the story... We started to talk about the minting errors he had heard about the new $1 coins. As with all coins there are tons of errors (remember it's the government who makes them) to discuss, but he focused on the new edge lettering. On the edge of these new coins the mint inscribed the words: "In God We Trust", "E Plurbis Unum", and the year of the coin's mintage ("2007"), and the mint mark (usually a "P" or a "D"). They did this to give more room for the presidential portrait, and to make the coin more unique.

One of the most well known errors on the coins is the missing wording on the edge of the coin. At first some people who got the coins thought this was intentional to remove the "In God We Trust" from the coins with all of the political "hay" about religion and government, but this isn't the case. Instead it was a minting error that created some coins without the writing, and they are now being called "Godless coins". Some of the Washington "Godless" coins have sold on eBay for $600, but most sell for around $40-50. The Adams "Godless" coins are rarer and are commanding an higher price. Of course there are a few people trying to cash in on this error by filing off the edge writing and trying to sell the fake "Godless" coins as authentic errors. My friend said that he heard of another error related to the edge writing. He said that the mint intended for the writing to be read correctly when the coin was face up, but some of the coins have the writing face down. I hadn't heard that, and I thought he was pulling my leg, so I kinda dismissed him with a wave, and went off to lunch. Well today, pulled out a handful of my $1 presidential coins and I looked at the edge writing. Of the 20 coins I examined, 8 of them had the writing face up, and 12 had the writing face down. If it's an error, I have a whole bunch of them! Which of course makes it unlikely that the error is worth anything. I did a quick Internet search and found that it is in fact not an error! The mint never intended to control the direction of the edge text. The machine they use to inscribe the edge does not check the direction of the coin before it inscribes, so there is roughly a 50/50 chance of the text being face up or face down.

So if someone stops you on the way to lunch and tries to tell you that $1 coin with the text the "opposite" way is worth money, don't be fooled and wave him (or her) off and continue on to lunch. Later Lou