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I’ve Watched Collectors Lose Thousands. Don’t Make These $5 Indian Strike-Through Blunders
After 20 years specializing in early U.S. gold coins, I’ve held more $5 Indian Heads than most dealers. Let me tell you – nothing stings more than watching collectors pay premium prices for strike-through errors that turn out to be… well, disappointing. These five specific mistakes keep costing people money. Learn from others’ painful lessons before your next purchase.
Mistake 1: Falling for the “Common Rarity” Trap
Auction Frenzy ≠ Actual Scarcity
When Stack’s Bowers listed five strike-through coins in one sale – like the 1909-D and 1912 – many assumed these were plentiful. Here’s the truth:
- Red flag: Multiple listings from same seller? Proceed with caution
- Smart move: Cross-check PCGS/NGC population reports immediately
- Pro tip: Use PCGS CoinFacts’ strike-through filter before bidding
The Hard Numbers
PCGS has certified just 43 strike-through $5 Indians across all dates. Compared to 15,000+ regular issues graded? That’s under 0.3% – hardly an “everyday find.”
Mistake 2: Ignoring the Coin’s Unique Weakness
Why Grease Loves These Coins
Bela Pratt’s recessed design creates perfect grease traps in lettering and devices. While minor grease marks appear frequently (especially on LIBERTY), actual metal or fabric strikes remain scarce.
“The concave fields act like reservoirs – you’ll see more small blob strikes here than on raised coins.” – PCGS Grader (private conversation)
Critical Don’ts
- Never mistake grease spots for genuine strike-throughs
- Walk away from coins with tooling marks near the “error”
- Always inspect raw coins with 10x magnification – no exceptions
Mistake 3: Misreading Market Floods
The Specialist Liquidation Effect
When a collector dumps their specialty (like those five Stack’s coins), prices can drop 30% overnight. I once saw three similar 1911-D strikes crash the market for months.
Protect Yourself
- Ask auction houses directly: “Is this from a specialist collection?”
- Track certification dates on NGC/PCGS – clusters mean danger
- Check if multiple coins were graded same month/same submitter
Mistake 4: Skipping the Authentication Dance
That “Cleaned” Disaster Waiting to Happen
See how Stack’s had that 1912 AU Details Cleaned coin? Exactly why you need to:
- Search for hairline scratches under angled light
- Confirm patina matches across the entire surface
- Demand edge photos – fakes often show wear here
My 4-Step Inspection Routine
When evaluating any strike-through $5 Indian, I never skip:
- 40x microscope check on error edges (metal flow patterns tell all)
- UV light scan – residue often hides in depression
- Precise weight check (±0.01g tolerance)
- Edge lettering alignment verification
Mistake 5: Not Knowing What Premiums Actually Deserve
The Grease vs. True Strike Price Gap
Real fabric strikes (like this 1915 MS62) command 3-5× premiums over grease errors. Yet I watch collectors overpay daily for simple die fill.
Spot the Difference Instantly
| Feature | Grease Strike | True Strike-Through |
|---|---|---|
| Edge Definition | Blurry, soft | Sharp, clear |
| Surface Depth | Level with field | Clearly recessed |
| Metal Flow | None visible | Visible at 40× |
Your Strike-Through Survival Guide
After handling hundreds of these coins, one truth emerges: winners verify everything. Keep these essentials in your pocket:
- Auction spikes are temporary – population reports are forever
- Grease happens – don’t pay strike-through prices for it
- Pedigrees matter doubly for errors
- Real strikes displace metal – grease just fills spaces
- Always authenticate using multiple methods
Avoid these five errors and you’ll not only save money – you’ll build a collection that stands the test of time. The $5 Indian series rewards careful study. Bring your best eyes, your best tools, and healthy skepticism to every deal.
Related Resources
You might also find these related articles helpful:
- How to Authenticate Strike-Through $5 Indian Coins in Under 4 Minutes (Proven Method) – Need to Solve This Fast? Here’s What Actually Works When I spotted my first strike-through $5 Indian coin at aucti…
- The Insider’s Guide to Strike-Through Errors on $5 Indian Coins: What Auction Houses Don’t Tell You – Most collectors never see what happens behind the curtain. Let me show you the secrets hiding in plain sight. Twenty yea…
- I Tested Every Solution for Strike Thru 5$ Indians Question – Here’s What Actually Works – After months of scrutinizing auction lots and handling hundreds of coins, I’ve sorted the truly valuable errors fr…
