Presidential Dollar Mint Errors (2007-Current)

Discussion in 'U.S. Modern Coins' started by Paul Maritz, Apr 14, 2014.

  1. Paul Maritz

    Paul Maritz Founding Member

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    I scanned through John and Eric's Top 50 Most Popular Modern Coins over the weekend. One of the coins that attracted my attention is the 2007 Mint State $1 George Washington Presidential Dollar Mint Error Missing Edge Lettering as listed and mentioned on pages 8-9 of the relevant publication. I decided there and then to look further into it. So this morning I started by searching for "error" at www.moderncoinmart.com. To my surprise I discovered two 2007 John Adams Presidential Dollars with different mint errors, namely:

    2007-P John Adams $1 Dollar Mint Error Inverted Double Edge Lettering NGC Mint State 65

    2007-P John Adams $1 Dollar Mint Error Overlapped Double Edge Lettering NGC Mint State 65

    And after doing a quick search at NGC and eBay, I've decided to pull the trigger on both at $54.95 each. I will explain why...

    From what I can gather there are at least five different mint errors when it comes to the 2007 Presidential Dollars:
    • Missing Edge Lettering
    • Inverted Double Edge Lettering
    • Overlapped Double Edge Lettering
    • Rotated Dies
    • Matte Edge
    Now at least a portion of the 2007-P John Adams Presidential Dollars seem to be affected by all five mint errors listed above. So given the fact that no information seems to be available at NGC pertaining to the price history or performance of the 2007-P John Adams Presidential Dollars (listed above), I decided to use the price history of the 2007 Mint State $1 George Washington Presidential Dollar Mint Error Missing Edge Lettering to establish whether the relevant John Adams mint error coins are in comparison trading at fair value or not. This is what I've discovered:
    [​IMG]

    MS 67 - Prices seem to have collapsed from a level of $1,880.00 and seem to have stabilized at the $940 price level. Total Graded at 67: 97 (as on 04/14/2014).

    [​IMG]

    MS 66 - Prices seem to have collapsed from a level of $437.50 and seem to have stabilized at the $98.75 price level. Total Graded at 66: 3054 (as on 04/14/2014).

    MS 64 - Prices seem to have collapsed from a level of $125.00 and seem to have stabilized at the $65.00 price level. Total Graded at 64: 13686 (as on 04/14/2014).

    Ok, so let's consider NGC stats relating to the 2007-P John Adams $1 Dollar Mint Error Inverted Double Edge Lettering in terms of the MS65 and MS64s:

    [​IMG]
    MS 65 - Total Graded at 65: 2465 (as on 04/14/2014).

    [​IMG]
    MS 64 - Total Graded at 64: 3582 (as on 04/14/2014).

    Ok, so let's consider NGC stats relating to the 2007-P John Adams $1 Dollar Mint Error Overlapped Double Edge Lettering in terms of the MS65 and MS64s:

    [​IMG]

    MS 65 - Total Graded at 65: 2508 (as on 04/14/2014).

    [​IMG]
    MS 64 - Total Graded at 64: 3297 (as on 04/14/2014).

    Now I've deliberately, for the purposes of this exercise, excluded specifics in terms of mint errors relating to Missing Edge Lettering, Matte Edge and Rotated Dies when it comes to the 2007 John Adams Presidential Dollars. Ok, so this is what we have so far...

    A. 2007 Mint State $1 George Washington Presidential Dollar Mint Error Missing Edge Lettering:

    MS 67 - Prices seem to have collapsed from a level of $1,880.00 and seem to have stabilized at the $940 price level. Total Graded at 67: 97 (as on 04/14/2014).

    MS 66 - Prices seem to have collapsed from a level of $437.50 and seem to have stabilized at the $98.75 price level. Total Graded at 66: 3054 (as on 04/14/2014).

    MS 65 - Prices seem to have collapsed from a level of $187.50 and seem to have stabilized at the $70.00 price level. Total Graded at 65: 26003 (as on 04/14/2014).

    MS 64 - Prices seem to have collapsed from a level of $125.00 and seem to have stabilized at the $65.00 price level. Total Graded at 64: 13686 (as on 04/14/2014).

    B. 2007-P John Adams $1 Dollar Mint Error Inverted Double Edge Lettering:
    MS 65
    - Total Graded at 65: 2465 (as on 04/14/2014).

    MS 64 - Total Graded at 64: 3582 (as on 04/14/2014).

    C. 2007-P John Adams $1 Dollar Mint Error Overlapped Double Edge Lettering:
    MS 65
    - Total Graded at 65: 2508 (as on 04/14/2014).

    MS 64 - Total Graded at 64: 3297 (as on 04/14/2014).

    Now purely based on the NGC populations of the relevant coins as on 04/14/2014 and an elementary price analysis using the data provided by NGC (see above), it should be clear that the following coins are very undervalued at a price of $54.95 each:

    2007-P John Adams $1 Dollar Mint Error Inverted Double Edge Lettering NGC Mint State 65

    2007-P John Adams $1 Dollar Mint Error Overlapped Double Edge Lettering NGC Mint State 65

    Now an elementary eBay price analysis reveals that one will be extremely lucky to buy the 2007-P John Adams $1 Dollar Mint Error Inverted Double Edge Lettering NGC Mint State 65 for less than $75 at eBay. This while one will be extremely lucky to buy the 2007-P John Adams $1 Dollar Mint Error Overlapped Double Edge Lettering NGC Mint State 65 for less than $100-$120 at eBay.

    Thus, grab yours at $54.95 before these are gone. ;)

    Be sure to discuss the above and other Presidential Dollar mint errors below.

    P.S. It is best to buy Presidential Dollar mint error coins slabbed and graded from a reputable dealer such as MCM. The reason being is because there are plenty of counterfeits out there and why pay more when you can pay less? :D
     
    Last edited: Apr 14, 2014
  2. Paul Maritz

    Paul Maritz Founding Member

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    Wow, it seems those have sold out within 18 minutes since I've posted the above. Did you guys get some?

    Edit: I've learned that it did sell out, but on the back of very limited supply and not necessarily a huge spike in demand. Needless to say, this doesn't take away from the fact that $54.95 was the best price out there for the given coins, especially considering the free domestic shipping MCM offers on a permanent basis. If anyone is interested in buying these coins, pm me and I will help search for the most cost-effective option. ;)
     
    Last edited: Apr 15, 2014
  3. ken454

    ken454 Founding Member

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    nah, those are all over ebay, i'd rather find one myself, i always buy up all those and sac's at banks....
     
  4. Paul Maritz

    Paul Maritz Founding Member

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    Yes, you should do your own due diligence. However, I find it hard to believe that "those are all over ebay". I could only find a handful in the NGC MS 65 grade and at much higher prices than the $54.95 mentioned. I dare you to find a better deal elsewhere. :)
     
  5. Paul Maritz

    Paul Maritz Founding Member

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  6. Paul Maritz

    Paul Maritz Founding Member

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  7. Mark Rex

    Mark Rex Well-Known Member

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    Too bad there isn't a pic or I'd be interested.
     
  8. Paul Maritz

    Paul Maritz Founding Member

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    Be sure to pm Nathan. He might have a photo or two ready.

    Edit: I've emailed Nathan and is waiting for a reply from his end. I will keep you posted.
     
    Last edited: Apr 15, 2014
  9. Paul Maritz

    Paul Maritz Founding Member

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    My latest purchases in terms of the 2007 Presidential Dollar mint errors...

    2007 Presidential Dollars Thomas Jefferson.png

    2007 Presidential Dollars Thomas Jefferson Position A.png

    2007 Presidential Dollars Thomas Jefferson Position A First Day of Issue.png
     
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  10. Jeffkon5

    Jeffkon5 Well-Known Member

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  11. Paul Maritz

    Paul Maritz Founding Member

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    I see there is a greater selection on eBay available nowadays and that the prices have come down nicely. Now is the time to load up. :)
     
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  12. Chuck

    Chuck Guest

    I definitely second the notion to buy these in holders. There are a LOT of altered coins out there, and some of them can be difficult to detect.

    BTW, they are not "counterfeit" when they are genuine coins that are changed in appearance to deceive collectors.
     
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  13. Paul Maritz

    Paul Maritz Founding Member

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    Definitely. I've certainly learned my lesson with that Lincoln cent. ;)
     
  14. pcunix

    pcunix Guest

    So much of this stuff is just so minor that I can't summon up much interest.
     
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  15. Paul Maritz

    Paul Maritz Founding Member

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    Look beyond what you see... :D

     
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  16. ken454

    ken454 Founding Member

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    here are my 2

    Picture 542.jpg Picture 544.jpg
     
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  17. Paul Maritz

    Paul Maritz Founding Member

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  18. Jeffkon5

    Jeffkon5 Well-Known Member

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    Heres the one I have. image.jpg image.jpg
     
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  19. Paul Maritz

    Paul Maritz Founding Member

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