Is the Cheerios Dollar First Run an Error Coin and how many exist?

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dennisinokla
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Is the Cheerios Dollar First Run an Error Coin and how many exist?

#1 Unread post by dennisinokla » Mon Dec 10, 2018 11:57 pm

Background:

The first run or prototype 2000 P Sac. Dollars had an error on the front yet PCGS does not recognize the coin as an error.

After the first run, the observe die was polished to remove a minor "error" on the clothing edge just below and left of the date. The reverse was modified to remove the fine detail from the tail feathers so the tail would look, "more white".

Most if not all of these first run coins were put in Cheerios boxes and were positioned observe side up on plastic covered cards. Not all "Cheerio Dollars" on the slabs are the first run dollars, therefore there are an unknown number of first run or prototype "Cheerio Dollars".

I asked the mint how many coins are in a normal first run and specifically, how many were in the first run of the 2000 P Sac Dollars. The answer I received was, "Unknown"

PCGS will recognize "Cheerio Dollars" if they are presented on the original cards from the boxes or from another grading service as a crossover.

PCGS does not recognize unsealed "first" or "prototype" run dollars even if they have the fine detail in the tail feathers and have the flaw on the clothing. Strange indeed.

I know this first hand as I have submitted 2 crossovers which were accepted as "Cheerio Dollar" and one circulated first run dollar which was not accepted as a "Cheerios Dollar". I specifically noted I wanted the coin graded as a "Cheerios Dollar". The dollar came back graded as 2000 P AU58. I called and discussed this with PCGS on the phone and was surprised they did not recoginize this as a Cheerios Dollar or as an error coin.

So, the question is, "How does a coin become recoginized by grading services as an official error?"

Also, any guesses to how many first run 2000 P Sac. Dollars will show up in the next 81 years? My guess is less than 500.

By the way, not all "Cheerio Dollars" are first run dollars and they will not have the flaw or fine details. I would not want to order a "Cheerios Dollar" and find out it is just a "plain jane".



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Daniel
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Re: Is the Cheerios Dollar First Run an Error Coin and how many exist?

#2 Unread post by Daniel » Tue Dec 11, 2018 7:37 am

Either a Cheerios Dollar has "accented" tail feathers or it doesn't and has nothing to do with any other aspect of the coin, the die mark by the cloak can be on non-cheerios dollars. It is a variety and not an error. I don't know where you get your information but it's not from PCGS or NGC. You must submit coins they recognize.

No expert is going to recognize a Cheerio dollar as a first run when they where all packaged at the same time. There just wasn't any "runs". So someone has given you bad information.

You sent a circulated coin to PCGS thinking it was something the mint did to the die when it was the result of circulation wear. PCGS get's this often, someone sending in a normal Sacagawea wanting to get Cheerio designation and they will not do it no matter how a person "spins" it. If they did it would depreciate the value of actual Cheerio Dollars.


http://www.smalldollars.com/dollar/page20c.html

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Paul
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Re: Is the Cheerios Dollar First Run an Error Coin and how many exist?

#3 Unread post by Paul » Tue Dec 11, 2018 10:54 am

any "coin pics" we can hugeeyes ??
whistling2:


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Re: Is the Cheerios Dollar First Run an Error Coin and how many exist?

#5 Unread post by mhonzell » Tue Dec 11, 2018 11:48 am

Yep, and it wasn't Daniel.

Dennisinokla, need to understand what facts you have.

In PCGS terms, a first run is a coin released on the first day in a sealed container. You seem to be confusing it with the first coins made by a pair of dies, which is closer to 200,000, not 500.

Once the mint decided to modify the dies, they modified the master to make new working dies. There could be millions of the accented coins.

With the Cheerios coin, the company bought a bunch of coins and packaged them. Their process may have resulted in damage to the coins lowering their grade. But, if it is not in the original Cheerios package, a TPG would not know if it came from Cheerios, or was one of the hundreds of thousands other variety coins in circulation. Cheerios simply bought a portion of them.

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Re: Is the Cheerios Dollar First Run an Error Coin and how many exist?

#6 Unread post by bigphish68 » Tue Dec 11, 2018 11:59 am

completely agree m- you and d have been more than fair with advice and honest opinions. some people just can't handle that.

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Re: Is the Cheerios Dollar First Run an Error Coin and how many exist?

#7 Unread post by Daniel » Tue Dec 11, 2018 1:10 pm

This is the best source for information on the Cheerios Dollar. I stand by everything I say and can source what I say with credible sources.

http://www.smalldollars.com/dollar/page20c.html

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