Finding Coin Week The Only US Gold Coin Struck on an Elliptical Planchet – 2023 5 Gold Eagle Mint Error in the Wild: A Cherry Picker’s Guide

You don’t always need a dealer to find something extraordinary. Here’s what to watch for when you’re working through circulation or picking apart bulk lots.

As a roll hunter and cherry picker, I’ve spent years elbow-deep in bank boxes, estate sale accumulations, and bulk lots, always searching for the unusual. Most days, the finds are modest—a repunched mintmark here, a doubled die there. But every once in a while, something crosses my desk that stops me cold. Something that makes me set down my loupe, take a breath, and realize I’m holding a piece of numismatic history that most collectors will never see in person.

The 2023 $5 Gold Eagle struck on an elliptical planchet is exactly that kind of coin. It’s the only known U.S. gold coin ever struck on an elliptical—football-shaped—planchet, and it represents one of the most dramatic modern gold errors the U.S. Mint has ever produced. While this specific coin made headlines at GreatCollections and eventually sold for $7,000 to the holder of the #1-ranked American Eagle mint error collection, the story behind it—and the lessons it offers for roll hunters and cherry pickers—is far more valuable than any single auction result.

What Makes the 2023 Elliptical Planchet Gold Eagle So Extraordinary

Let’s start with the basics. A normal 2023 $5 American Gold Eagle is a precisely engineered piece of bullion. It carries a $5 face value, measures 16.50 mm in diameter, contains exactly 0.1000 troy ounce of gold, and weighs 3.393 grams. The planchets are punched from carefully prepared strips, fed into upsetting mills to create the raised rim, and then struck between precision dies. The whole process is automated, monitored, and designed to produce uniformity.

The 2023 elliptical planchet error breaks every one of those rules. This coin weighs only 3 grams—nearly 0.4 grams short of standard. It did not leave the press round. Instead, it emerged as a football-shaped gold coin with missing design elements, incomplete edge detail, and a profile that looks like it belongs in a science fiction movie rather than a U.S. Mint press room.

The coin was authenticated and graded NGC MS-69, which is remarkable given the circumstances of its creation. It features a Miles Standish signed label in a Black Retro holder, adding another layer of provenance that serious error collectors covet. The fact that it exists at all is a testament to the occasional failure of even the most controlled minting processes.

The Blanking Process: How Does an Elliptical Planchet Happen?

One of the most common questions I see in forum discussions about this coin is: “How does this even happen?” It’s a fair question, and understanding the mechanics is essential for anyone who wants to cherry pick errors from bulk lots.

The blanking process begins with long strips of metal alloy—in the case of Gold Eagles, a composition of 91.67% gold, 3% silver, and 5.33% copper. These strips are fed into a blanking press, which punches out round planchets in a single stroke. The leftover web of metal gets recycled.

For an elliptical planchet to be created, something has to go wrong at the moment of punching. The most likely scenario is a misfeed—the strip advances too far or not far enough, and the punch overlaps the edge of the strip or a previously punched hole. Instead of a full circle, you get an oval or football-shaped fragment. This fragment then somehow escapes detection and makes its way into the upsetting mill and eventually the coining press.

Here’s what makes this so rare in gold:

• Automated inspection systems: Modern U.S. Mint facilities use sophisticated sensors and weight-checking equipment to catch irregular planchets before they reach the presses. A 3-gram planchet should have been flagged immediately.
• Higher scrutiny on precious metal coinage: Gold and silver blanks receive more attention than base metal coinage. The value of the metal alone justifies additional quality control steps.
• The narrow window of survival: An elliptical planchet is structurally weaker and more likely to jam machinery or be caught by visual inspection. The fact that this one was actually struck and released is almost miraculous.

One forum poster speculated that this coin was “probably struck on a Friday at 4:59 PM.” While that’s said in jest, there’s a kernel of truth to it. Many dramatic mint errors do seem to occur during shift changes, equipment transitions, or moments when attention lapses. As cherry pickers, we benefit from those moments.

Why Roll Hunters and Cherry Pickers Should Care About This Coin

You might be thinking: “This is a unique gold error that sold for $7,000. What does that have to do with my bank box of cents or the estate sale lot I’m sorting through this weekend?”

Everything. Here’s why.

The Philosophy of the Hunt

The elliptical planchet Gold Eagle is an extreme example of a principle that drives every successful cherry picker: errors happen, and they slip through. The U.S. Mint produces billions of coins every year. Despite the best quality control systems in the world, anomalies occur. Some are caught. Some are not. The ones that escape become the treasures we find in circulation, in bulk lots, and in estate sales.

I’ve examined thousands of coins over the years, and the ones that excite me most aren’t always the most valuable. They’re the ones that tell a story about the minting process—the ones that reveal the human and mechanical imperfections behind the facade of precision. An elliptical planchet is the ultimate expression of that principle.

What to Look For in Bulk Lots and Estate Sales

While you’re almost certainly not going to find a 2023 elliptical planchet Gold Eagle in a $50 bag of circulated coinage, the search methodology is identical to what you’d use for more common errors. Here’s my approach:

1. Weigh everything that looks unusual. The elliptical Gold Eagle weighs 3 grams instead of 3.393 grams. That 0.393-gram difference is what flagged it as abnormal. In my experience grading and sorting bulk lots, coins that deviate from standard weight by even small amounts deserve a second look. Invest in a precision scale that reads to 0.01 grams.
2. Check the shape. Hold coins up to the light and rotate them. An elliptical planchet will show an obvious deviation from roundness. For more common denominations, look for clipped planchets—straight clips, curved clips, and irregular clips. These are the base-metal equivalents of the elliptical gold error.
3. Examine the edges. The elliptical Gold Eagle has missing edge detail because the planchet was too small to receive a full strike. In circulation coins, incomplete edge lettering, missing reeds, or irregular edge surfaces can indicate a planchet problem.
4. Look for missing design elements. When a planchet is the wrong shape or size, the dies can’t fully impress the design. You’ll see weak strikes, missing legends, or design elements that simply aren’t there. This is a red flag that something went wrong before the coin ever reached the press.
5. Don’t ignore the “ugly” coins. One forum commenter noted that the proportions of the reverse design on the elliptical Gold Eagle looked “unartistic.” That’s exactly the kind of subjective reaction that causes people to overlook errors. Train yourself to look past aesthetic judgments and focus on mechanical anomalies.

The Market for Unique Errors: Lessons from the GreatCollections Sale

The auction history of this coin is instructive for anyone who buys, sells, or trades in the error market. Here’s what happened:

• The coin appeared at GreatCollections with significant interest from error collectors.
• One forum member (posting as “1madman”) was the underbidder at $4,888 (without buyer’s premium). He estimated the coin was worth closer to $2,000–$2,500, citing the thin market for gold eagle errors.
• Another collector (“scubafuel”) thought $10,000 was the right price and regretted missing the GC sale.
• The winning bidder was Mike Byers, a well-known figure in the numismatic community, who subsequently listed the coin on eBay at $12,500.
• The coin ultimately sold on eBay for $7,000 to a customer with the #1-ranked American Eagle mint error collection.

What does this tell us?

Niche Markets Command Premiums—But With Volatility

The market for gold eagle errors is thin. As “1madman” noted, there are very few collectors who specifically pursue this category. That means pricing is highly subjective and dependent on finding the right buyer. A coin that one collector values at $2,500 might be worth $10,000 to another—if you can find them.

For cherry pickers, this is both a challenge and an opportunity. The challenge is that unique errors are hard to value and harder to sell. The opportunity is that when you do find a buyer, the premiums can be extraordinary. The key is patience and networking.

The Importance of Provenance and Certification

The elliptical Gold Eagle’s value was significantly enhanced by its NGC MS-69 grade, its Miles Standish signed label, and its Black Retro holder. In the error market, authentication and documentation are everything. A raw, unattributed error is worth a fraction of a certified and pedigreed example.

If you find something unusual in a bulk lot or estate sale, get it certified immediately. NGC and PCGS both have error attribution services, and the cost of certification is almost always justified by the increase in marketability and value.

Building a Type Set of Elliptical Planchets: A Thought Experiment

One of the most interesting forum comments came from “1madman,” who noted that building a type set of elliptical planchets would be “extremely difficult” given that this is the only known U.S. gold coin struck on such a planchet. He’s right—but the broader category of elliptical and irregular planchets across all denominations is a fascinating area of study.

Here’s what a comprehensive type set might include:

• Elliptical planchets: Oval or football-shaped blanks created by misfeeds in the blanking press. The 2023 $5 Gold Eagle is the premier example in gold.
• Curved clips: Arcs of missing metal caused by overlapping punches. These are the most common planchet errors and can be found in circulation.
• Straight clips: Linear sections of missing metal caused by the punch overlapping the edge of the strip.
• Irregular clips: Non-standard shapes caused by complex misfeeds or equipment malfunctions.
• Laminations and split planchets: Coins where the metal surface has separated due to impurities or stress.
• Off-metal strikes: Coins struck on planchets intended for a different denomination or composition.

While the elliptical gold error is unique, the broader category of planchet errors is accessible to collectors at every budget level. I’ve found curved clips in cent rolls from the bank, and I’ve seen irregular planchets in bulk lots purchased for face value. The hunt is the same whether you’re looking for a $7,000 gold error or a 50-cent clip in a box of nickels.

Practical Tips for Finding Errors in Circulation and Bulk Lots

Let me share some hard-won advice from years of roll hunting and cherry picking. These tips apply whether you’re searching for a six-figure gold error or a doubled die Roosevelt dime.

Tip #1: Know the Standard Specifications

You can’t identify an anomaly if you don’t know what normal looks like. Memorize the weight, diameter, and composition of the coins you’re searching. For the denominations I search most frequently, here are the key specs:

• Lincoln Cent (post-1982): 2.500 grams, 19.05 mm, zinc with copper plating
• Jefferson Nickel: 5.000 grams, 21.21 mm, 75% copper / 25% nickel
• Roosevelt Dime: 2.268 grams, 17.91 mm, clad composition
• Washington Quarter: 5.670 grams, 24.26 mm, clad composition
• $5 Gold Eagle: 3.393 grams, 16.50 mm, 91.67% gold

When a coin deviates from these specifications, it deserves a closer look. The elliptical Gold Eagle’s 3-gram weight was the first clue that something was wrong.

Tip #2: Sort Systematically

Random searching is inefficient. I sort bulk lots by denomination first, then by date and mintmark. Within each subgroup, I weigh and visually inspect every coin. This systematic approach ensures that nothing slips through. It’s time-consuming, but it’s the only way to consistently find errors.

Tip #3: Build Relationships with Estate Sale Organizers

Some of my best finds have come from estate sales where the organizers didn’t know what they had. I make it a point to introduce myself, leave my card, and explain what I look for. When a collector passes away and their family liquidates the collection, I’m often the first person they call. This is how rare errors surface—not through dealers, but through personal connections.

Tip #4: Document Everything

When you find something unusual, photograph it immediately. Note the source (bank, estate sale, bulk lot), the date, and any relevant context. This documentation becomes part of the coin’s provenance, which can significantly affect its value. The elliptical Gold Eagle’s story—from mint error to GreatCollections to eBay to the #1 AE mint error collection—is part of what makes it valuable.

Tip #5: Don’t Be Afraid to Walk Away

“1madman” made a wise decision when he let the elliptical Gold Eagle go at $4,888. He recognized that the market for this specific error was thin and that he might have difficulty finding a buyer at his price. As cherry pickers, we have to be disciplined. Not every unusual coin is a good buy. Know your market, know your limits, and don’t let excitement override judgment.

The Human Element: Why Mint Errors Fascinate Us

There’s something deeply compelling about a mint error. It’s a moment of imperfection in a system designed for perfection. It’s evidence that behind the precision machinery and automated processes, there’s a human story—a misfeed, a missed inspection, a moment of inattention.

The 2023 elliptical planchet Gold Eagle is the ultimate expression of this. It’s a coin that should not exist. It survived a process designed to prevent exactly this kind of anomaly. It slipped through automated inspection, past quality control, and into the hands of a collector who recognized its significance.

As roll hunters and cherry pickers, we’re part of that story. We’re the ones who find the errors that the Mint missed. We’re the ones who preserve and document these moments of imperfection. And we’re the ones who connect them with collectors who appreciate their rarity and significance.

Conclusion: The Only Known U.S. Gold Coin Struck on an Elliptical Planchet

The 2023 $5 Gold Eagle struck on an elliptical planchet stands alone in American numismatics. It is the only known U.S. gold coin produced on a football-shaped blank, and it represents one of the most dramatic mint errors of the modern era. Graded NGC MS-69 and bearing a Miles Standish signed label, it sold for $7,000 after a journey through GreatCollections and eBay that illustrated both the excitement and the volatility of the unique error market.

For roll hunters and cherry pickers, this coin is more than a curiosity—it’s a reminder of why we hunt. Every bulk lot, every estate sale, every bank box contains the potential for discovery. The errors are out there, waiting to be found. They may not always be gold, and they may not always be unique, but they’re always worth looking for.

The next time you’re sorting through a box of coins, remember the elliptical Gold Eagle. Remember that a 0.393-gram weight deviation and an unusual shape were all it took to identify one of the rarest U.S. gold errors ever produced. And remember that the next great find might be sitting right in front of you, waiting for someone with the knowledge and the patience to recognize it.

Happy hunting.

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