Us penny 1970 floating roof ?
Moderator: Daniel
Forum rules
Here's a link to how to post a topic with images in our community https://coinauctionshelp.com/welcome-to ... community/
___________________________________________________________________________________________________________
You also agree to follow these guidelines. You must agree to these rules to be a member of this forum. NO SPAM! Spam is deleted within minutes, no spam will ever be left in our community.
1. Post a front and back image of your coin with a specific question about what you’re seeing or asking about and one coin per topic.
2. Please remove coin from the holder unless it’s US or an official mint case or unless it is graded by a grading service.
3. Images should be taken by a camera or cell phone camera, we ask that members don’t use images through a microscope screen.
4. Always start your own topic, please don’t ask about your coin or post your coin in someone else’s coin topic.
5. Do not send private messages about your coin unless an Admin ask you too and the same for sending emails through the board.
6. No spam. Do not post any links to your coin or other non-coin websites.
7. Always be respectful even if something makes you upset or you don’t agree with a member. You can always get a second opinion elsewhere. If you have an issue then politely ask an admin in an PM. PM’s are for issues, technical and personal, but not for coin questions (refer to number 5 on this list). Our community is not a soap box for complaining or drama, so please refrain from doing so here.[/size]
Here's a link to how to post a topic with images in our community https://coinauctionshelp.com/welcome-to ... community/
___________________________________________________________________________________________________________
You also agree to follow these guidelines. You must agree to these rules to be a member of this forum. NO SPAM! Spam is deleted within minutes, no spam will ever be left in our community.
1. Post a front and back image of your coin with a specific question about what you’re seeing or asking about and one coin per topic.
2. Please remove coin from the holder unless it’s US or an official mint case or unless it is graded by a grading service.
3. Images should be taken by a camera or cell phone camera, we ask that members don’t use images through a microscope screen.
4. Always start your own topic, please don’t ask about your coin or post your coin in someone else’s coin topic.
5. Do not send private messages about your coin unless an Admin ask you too and the same for sending emails through the board.
6. No spam. Do not post any links to your coin or other non-coin websites.
7. Always be respectful even if something makes you upset or you don’t agree with a member. You can always get a second opinion elsewhere. If you have an issue then politely ask an admin in an PM. PM’s are for issues, technical and personal, but not for coin questions (refer to number 5 on this list). Our community is not a soap box for complaining or drama, so please refrain from doing so here.[/size]
- SensibleSal66
- Coin Master
- Posts: 7798
- Joined: Thu Sep 10, 2020 8:06 am
- Location: Connecticut
- Has thanked: 3565 times
- Been thanked: 2328 times
Re: Us penny 1970 floating roof ?
Looks like it to me .
Member of CONECA
" All replies are my opinion based on experience"
Casual Collector 40+ years , 10 years Error coins ( still learning).
" All replies are my opinion based on experience"
Casual Collector 40+ years , 10 years Error coins ( still learning).
- Earle42
- Administrator
- Posts: 15942
- Joined: Tue Apr 02, 2019 11:18 am
- Location: OH
- Has thanked: 1373 times
- Been thanked: 4979 times
Re: Us penny 1970 floating roof ?
"Floating Roof" is a gimmicky nickname made up for a common occurrence at the mint. They polished the die to prolong its life and some detail was removed. The nickname likely came from people trying to sell the coins on eBay.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
- Paul
- Master Die Variety Examiner
- Posts: 19053
- Joined: Wed May 29, 2013 9:19 pm
- Location: Wisconsin
- Has thanked: 905 times
- Been thanked: 3316 times
Re: Us penny 1970 floating roof ?
.................. I've seen new collectors pay $50 for these............ worth $0.01!
- Daniel
- Administrator
- Posts: 26478
- Joined: Wed Jan 28, 2009 4:59 pm
- Location: Ohio
- Has thanked: 1145 times
- Been thanked: 4156 times
- Contact:
-
- Coin Wizz
- Posts: 411
- Joined: Sun Dec 27, 2020 7:17 pm
- Has thanked: 21 times
- Been thanked: 77 times
Re: Us penny 1970 floating roof ?
isn't value determined by the current selling price of a coin- to some extent at least?
If a coin like this in decent shape is selling for a few bucks on ebay, is it not suddenly worth a few bucks, not 1 cent
- Earle42
- Administrator
- Posts: 15942
- Joined: Tue Apr 02, 2019 11:18 am
- Location: OH
- Has thanked: 1373 times
- Been thanked: 4979 times
Re: Us penny 1970 floating roof ?
So when someone gets taken for a ride buying a fake 1916-D dime (for example) on eBay, does this mean fake 1916-D dimes are now worth hundreds the buyer got taken for?
The "floating roof" is a fake "error" dreamed up for a normal occurrence in hopes of suckering people into thinking they are rare, collectable, and worth anything other than the .01 it would take to find one in circulation.
Someone looking to sell these on eBay as anything special, who have been educated as to the non-error, is just helping the spread of the misinformation and taking advantage of the buyer to make a fast buck.
The "floating roof" is a fake "error" dreamed up for a normal occurrence in hopes of suckering people into thinking they are rare, collectable, and worth anything other than the .01 it would take to find one in circulation.
Someone looking to sell these on eBay as anything special, who have been educated as to the non-error, is just helping the spread of the misinformation and taking advantage of the buyer to make a fast buck.
- Rating: 2.94%
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
- Paul
- Master Die Variety Examiner
- Posts: 19053
- Joined: Wed May 29, 2013 9:19 pm
- Location: Wisconsin
- Has thanked: 905 times
- Been thanked: 3316 times
Re: Us penny 1970 floating roof ?
NO!monsterbug1 wrote: ↑Tue Jul 20, 2021 3:00 amisn't value determined by the current selling price of a coin- to some extent at least?
If a coin like this in decent shape is selling for a few bucks on ebay, is it not suddenly worth a few bucks, not 1 cent
................ that's the reason why you come here and ask us 1st
-
- Coinasieur
- Posts: 117
- Joined: Tue Oct 27, 2020 6:22 pm
- Has thanked: 16 times
- Been thanked: 12 times
Re: Us penny 1970 floating roof ?
Im here for learning not for win jackpotPaul wrote: ↑Tue Jul 20, 2021 8:59 amNO!monsterbug1 wrote: ↑Tue Jul 20, 2021 3:00 amisn't value determined by the current selling price of a coin- to some extent at least?
If a coin like this in decent shape is selling for a few bucks on ebay, is it not suddenly worth a few bucks, not 1 cent
................ that's the reason why you come here and ask us 1st
- Daniel
- Administrator
- Posts: 26478
- Joined: Wed Jan 28, 2009 4:59 pm
- Location: Ohio
- Has thanked: 1145 times
- Been thanked: 4156 times
- Contact:
-
- Coin Wizz
- Posts: 411
- Joined: Sun Dec 27, 2020 7:17 pm
- Has thanked: 21 times
- Been thanked: 77 times
Re: Us penny 1970 floating roof ?
First of all, much like a security or a stock, the value of a coin or type of coin is to some degree affected by the sale price of that coin. it is not a counterfeit error, it is just a very minor mistake(like machine doubling) that is worth very little, yet is still collected by some, who are willing to pay for itEarle42 wrote: ↑Tue Jul 20, 2021 8:46 am So when someone gets taken for a ride buying a fake 1916-D dime (for example) on eBay, does this mean fake 1916-D dimes are now worth hundreds the buyer got taken for?
The "floating roof" is a fake "error" dreamed up for a normal occurrence in hopes of suckering people into thinking they are rare, collectable, and worth anything other than the .01 it would take to find one in circulation.
Someone looking to sell these on eBay as anything special, who have been educated as to the non-error, is just helping the spread of the misinformation and taking advantage of the buyer to make a fast buck.
I understand that it is not a true error in the sense that it is just an over polished die, but, then, why are some overpolished die errors(3 legged buffalo) so valuable and why are others practically worthless
- Paul
- Master Die Variety Examiner
- Posts: 19053
- Joined: Wed May 29, 2013 9:19 pm
- Location: Wisconsin
- Has thanked: 905 times
- Been thanked: 3316 times
- Earle42
- Administrator
- Posts: 15942
- Joined: Tue Apr 02, 2019 11:18 am
- Location: OH
- Has thanked: 1373 times
- Been thanked: 4979 times
Re: Us penny 1970 floating roof ?
I agree with Paul - marketing.
And just like with some older contemporary counterfeits, a market develops from the history that has happened up until now.
Look up the Henning nickels. These are sought after by collectors who pay a hundred (at least ) for one. But in that case (and the 3 leg Buffalo), the history behind it makes it more collectable to people.
Back when the 3 leg Buffalo (and 1922 plain cent) were found, the entire databank of world knowledge was not at your fingertips because the internet was not around. The masses didn't always understand the 3 leg was a polishing problem(or for that matter, its also likely a lot of collectors didn't even know about die polishing.
So those older non-errors and counterfeits coins have become a part of collecting history. They likely will not lose the nostalgic value attached to them.
Today Joe collector can easily use a search engine and find the most remote details about coins easily. And also can the common, non-error gimmicky finds be more easily market as something specila to thos ewho won;t take the time to find out what they really are.
Another point... My grandfather told me he had always looked for the 3 leg and never found one (owning laundromats and going through a lot of change weekly starting in the late 50s-early into the 90s. And yes, Buffaloes were still circulating rather well when he started. He had only heard of one person who ever found on in circulation.
No compare how many "floating roof" pieces we have seen here just in the past couple of months. These floating-roof pieces are as common as dirt compared to the 3 leg Buffalo.
And as if to make the point even more real. In 2005 the gimmicky "detached Leg" Buffalo nickel hit eBay at $250.00 ea. when the first ones showed up there (I was watching them with interst to see how far it would go).
The people trying to sell them trying their best to make the detached leg seem as important as the 1937-D 3 leg. But, because of the internet and so very many more people out there in communication with each other, the numbers of these Detached Lag buffalos found and for sale kept climbing and climbing as the price went further and further down to a low. I got one for 1.25 Free shipping just b/c I wanted to see it in hand.
Had the internet not been around and only written info was out about these, could they have been the new 3-leg? I don't know.
I do know because companies actually got in on the bandwagon (hey - they were paid so why not?), you look at sold auctions and find some people still pay 70.00 for a slabbed proof in high grade.But I saw two ANACs MS64 and MS65 together as a lot that went for 20.00 ea.
A far cry from the 250.00 raw. I personall think the only thing keeping these alive is the slab.
And just like with some older contemporary counterfeits, a market develops from the history that has happened up until now.
Look up the Henning nickels. These are sought after by collectors who pay a hundred (at least ) for one. But in that case (and the 3 leg Buffalo), the history behind it makes it more collectable to people.
Back when the 3 leg Buffalo (and 1922 plain cent) were found, the entire databank of world knowledge was not at your fingertips because the internet was not around. The masses didn't always understand the 3 leg was a polishing problem(or for that matter, its also likely a lot of collectors didn't even know about die polishing.
So those older non-errors and counterfeits coins have become a part of collecting history. They likely will not lose the nostalgic value attached to them.
Today Joe collector can easily use a search engine and find the most remote details about coins easily. And also can the common, non-error gimmicky finds be more easily market as something specila to thos ewho won;t take the time to find out what they really are.
Another point... My grandfather told me he had always looked for the 3 leg and never found one (owning laundromats and going through a lot of change weekly starting in the late 50s-early into the 90s. And yes, Buffaloes were still circulating rather well when he started. He had only heard of one person who ever found on in circulation.
No compare how many "floating roof" pieces we have seen here just in the past couple of months. These floating-roof pieces are as common as dirt compared to the 3 leg Buffalo.
And as if to make the point even more real. In 2005 the gimmicky "detached Leg" Buffalo nickel hit eBay at $250.00 ea. when the first ones showed up there (I was watching them with interst to see how far it would go).
The people trying to sell them trying their best to make the detached leg seem as important as the 1937-D 3 leg. But, because of the internet and so very many more people out there in communication with each other, the numbers of these Detached Lag buffalos found and for sale kept climbing and climbing as the price went further and further down to a low. I got one for 1.25 Free shipping just b/c I wanted to see it in hand.
Had the internet not been around and only written info was out about these, could they have been the new 3-leg? I don't know.
I do know because companies actually got in on the bandwagon (hey - they were paid so why not?), you look at sold auctions and find some people still pay 70.00 for a slabbed proof in high grade.But I saw two ANACs MS64 and MS65 together as a lot that went for 20.00 ea.
A far cry from the 250.00 raw. I personall think the only thing keeping these alive is the slab.
- These users thanked the author Earle42 for the post:
- Thatgirl42
- Rating: 2.94%
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
-
- Coin Collector
- Posts: 35
- Joined: Wed Jun 23, 2021 3:50 am
- Has thanked: 53 times
- Been thanked: 21 times
Re: Us penny 1970 floating roof ?
I don’t have any idea why any real collector or better yet minimally educated individual would pay any amount beyond 1 cent for a “floating roof” coin . pick up a couple rolls from the store or bank and you’re almost guaranteed to find one or two. Very common and I wish it would be removed from vocabulary when speaking in terms of value or “error” HOWEVER if marketed with a gimmicky catch phrase you can be rest assured someone out there will believe they have purchased something “rare” I see the “floating roof” the same way I see that one or two ugly potato chip in the bag, yes it’s still a chip but not highly favored.
- These users thanked the author Thatgirl42 for the post (total 2):
- Daniel, Earle42
- Rating: 5.88%
- Earle42
- Administrator
- Posts: 15942
- Joined: Tue Apr 02, 2019 11:18 am
- Location: OH
- Has thanked: 1373 times
- Been thanked: 4979 times
Re: Us penny 1970 floating roof ?
The "Pet Rock" of the penny world.
- These users thanked the author Earle42 for the post (total 2):
- Thatgirl42, Daniel
- Rating: 5.88%
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
https://tinyurl.com/y7rksxu8
How much squash would a sasquatch squash if a sasquatch would squash squash?
-
- Similar Topics
- Replies
- Views
- Last post
-
- 2 Replies
- 291 Views
-
Last post by Paul
-
- 3 Replies
- 467 Views
-
Last post by Earle42
-
- 4 Replies
- 278 Views
-
Last post by silviosi
-
- 5 Replies
- 2097 Views
-
Last post by Paul
-
- 5 Replies
- 627 Views
-
Last post by Daniel
-
- 6 Replies
- 640 Views
-
Last post by JTCC
-
- 3 Replies
- 1599 Views
-
Last post by adikora
-
- 3 Replies
- 3101 Views
-
Last post by jworshipper
-
- 7 Replies
- 16826 Views
-
Last post by Paul
-
- 3 Replies
- 541 Views
-
Last post by Earle42