Error in Proof coin. How rare?

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dealerantique
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Error in Proof coin. How rare?

Post by dealerantique » Sun Aug 31, 2014 1:45 pm

I have a very complicated case, maybe you could help me to find answers.

I have a commemorative silver 5 Euro coin issued this year in original round plastic capsule. Coin was issued by national bank in Proof (!) quality and issue limit was 10 000 coins.
National bank informed collectors that design of this coin will contain 3 national flags that will be in colours. There are no other designs- just this one with 3 flags in colours.

Coin I bought from national bank was with error in its design- 2/3 of colours in 3rd flag were missing (colour is missing on 22.2% of surface where it should have been)...
Latvijas_eiro_sudraba_moneta_Baltijas_cels_25_ar_defektu_DealerAntique_small.jpg
Latvijas_eiro_sudraba_moneta_Baltijas_cels_25_ar_defektu_DealerAntique_small.jpg (98.18 KiB) Viewed 1208 times
It is 100% sure that there are no pieces of fell-off colour in the round plastic capsule and this capsule is for 100% in the same condition national bank sold it to me. Nobody has ever opened or made any changes to it or coin!
At the place, where should be colours of 3rd flag, there is nothing: no dots of colour, no scratches, no dust, no traces of chemicals (cleaners or something), nothing. Just silver.
I think this error was made in mint and somehow passed all quality tests for coin to be called Proof (!) in mint and national bank and was sold to collector- me. (Sometime people don't see simple things that are in front of their eyes...)

I informed national bank about this situation and they gave me an answer that this is an error and there should not be coins with 2/3 of colours in 3rd flag missing. National bank also confirmed that this is the only case known.

Due to the fact that none of the collectors I know have ever seen or heard anything about this type of error, I started to search on internet. I wasn't able to find any information about this kind of errors...

I hope you can give me some ideas about my case. I wanted to understand:

1) How rare are these errors (not fully coloured elements in Proof (!) coins) in world (dollars, euros, pounds, rubles etc.)?
2) Is this kind of error collectable?
3) Is this kind of error considered to be more valuable than typical errors (broadstrikes, off-centers, double strikes in collars, off-metals etc.)?
4) Are there known worldwide examples between Proof (!) dollars, euros, pounds, rubles etc. with this kind of mint error? (for example- coin with American flag missing blue colour; coin with colibri bird with wings left silver white etc.)


All this situation is something completely new for me. I have never ever before read so many articles about coin errors than during last 7 days.


Thank you very much for your time and answers!
Have a good day!

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ART
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Re: Error in Proof coin. How rare?

Post by ART » Mon Sep 01, 2014 10:39 pm

1) Is the first of its kind that I see, but I only collect coins for circulation so do not know if this specific error is rare.

2) Surely for who like to collect errors also.

3) This is a relative aspect, because there are no official quotations for mint errors: it only depends on how the error affects to a collector.

4) I don't know, but it's hard to think that this is the only similar error...
European soul, European pride.

dealerantique
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Re: Error in Proof coin. How rare?

Post by dealerantique » Tue Sep 02, 2014 4:19 pm

Thank you for your answers, ART.

It is sure that coins with this error could have been made. The question remains- how many of them passed strict quality tests for Proof coins and were sold to collectors.

Maybe this is first case in Latvia, maybe- in Eurozone. Maybe- one of the first publiced cases in world. Maybe- first with colour missing on >20% of its image.
More or less coins with colours still can be called "new" in numismatics. There is always "first" case for everything.

dealerantique
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Joined: Sun Aug 31, 2014 1:37 pm

Re: Error in Proof coin. How rare?

Post by dealerantique » Fri Oct 10, 2014 1:44 pm

To help other collectors with similar cases, I have started to make a small blog about this type of error:
http://errorcoin.wordpress.com/latvian- ... rror-coin/
My research still goes on, so I will continue to develop this blog.
Enjoy!

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