1999-W Error Washington $5 gold commemorative struck on a dime planchet. PCGS graded MS-68. One of the most extraordinary error coins to have ever been produced at any mint. Not only is this an off-planchet error, but its an off-metal one too. The Washington $5 commemorative is supposed to be struck in gold, and this coin is obviously struck on a dime planchet. Somehow, this one escaped the eagle eye mint employees, who specifically look for this type of error. Off it went, in the official holder of issue to fill the order by our consignor. What a delight it must have been to see as the box was opened! The strike is exceptional, of course, as the dime sized planchet is smaller in diameter than the gold planchet, allowing the dies to really squeeze the little dime-sized piece of metal during striking. The surfaces are pristine, we note a faint hint of toning starting to form on Washington. Well centered, curiously, and the extreme edge lettering and devices are off the edge of the small dime planchet. Washington's head is bold, and the eagle on the reverse is complete except for a couple of feather tips on the right side. Mintage was estimated in the current (2001) Red Book to be just 20,400 in mint state, as the final figures were not available at the time of production, but are expected to be less than 30,000. Needless to say, the final mintage is not that important, what is important is that this error coin escaped into numismatic hands, much to the delight of error collectors everywhere. The obverse reads "N GOD WE RUST" and the date states 199 with the second 9's tail missing, and only a hint of the upper loop of the last 9 is present.
How could such an error occur? Off-planchet errors are certainly very rare, at first we considered that this came into being in a similar fashion to the 1943 copper cents. Perhaps a planchet was left over in a "bin" which had been filled with dime planchets, the dimes were struck, then the coining press was switched over to produce the $5 Washington Commemorative gold coin. A single dime planchet remained at the bottom of the bin, stuck on a seam or other metal fragment. The bin was then filled with $5 gold planchets, dislodging the dime planchet inside the bin. As the $5 Washington pieces were struck, the dime planchet was fed through the coining press unnoticed. However; and this is where the challenge lies, the West Point Mint hasn't struck dimes since 1996. Could a planchet have been stuck at the bottom of a bin for 3 years before dislodging? Perhaps a dime was carefully inserted into the press that day, and spirited out of the Mint by an insider. Security is very tight, and it is unlikely that such a feat could be accomplished. And why only a single coin, no others have been reported, and this isn't the kind of error that would go unnoticed by anyone who collects coins. So, how did a dime planchet get mixed in with the $5 gold commemoratives? We don't know, but here it is, in all its glory. We displayed this coin at the recent Philadelphia ANA show, where officials from the Department of the Treasury inspected the coin. They were amazed that such an error could have occurred unnoticed, and were conducting an investigation to see how such a coin could have escaped into a collectors hand.
While the current numismatic press is filled with stories and rumors of state Washington quarter obverse, Sacagawea reverse golden dollar errors, the unknown factor of how many escaped into the channels of commerce will not be known for some time to come. Many people are hoarding these coins in unopened bags or rolls from banks and Post Offices. It is entirely possible that many thousands were produced before the quarter die was replaced with a Sacagawea dollar die. The Mint frankly does not know how many were produced or entered circulation, and it will be years before anyone knows for sure if this error is common or rare. We point this out to demonstrate the difference of this wrong planchet error as compared with a wrong die error. While both are modern errors, the Sacagawea will possibly prove to be very common in the end, while this coin will likely remain unique.
Estimated Value $20,000-UP.
