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 years ago, I nearly missed my first strike-through error on a $5 Indian Head coin – a greasy fingerprint hid the telltale signs until my third inspection. That moment changed how I see these gold pieces forever. Today, I want to share the tricks auction catalogues won’t teach you.

The Rarity Secret Your Coin Books Got Wrong

When “Scarce” Means Something Else Entirely

Here’s what surprised me most during my early years at the Philadelphia Mint archives: strike-through errors on 1908-1916 $5 coins aren’t rare – they’re just rarely reported. Last Thursday alone, I examined three separate examples hiding in “common” auction lots.

The Mint’s Perfect Storm

While sorting through 1911 production logs one rainy afternoon, I noticed a pattern others miss:

• Design crevices trapped grease like tiny pockets
• Tight spaces between stars and lettering caused buildup
• Rushed press operators during holiday rushes

The result? More hidden errors than any other U.S. gold coin series of that era.

Auction Smoke and Mirrors: What Really Happens

The Liquidation Trick

When six strike-through coins appear in one sale (like the famous 2012 Fairmont auction), it’s usually because:

A longtime collector’s family found Grandpa’s “junk coins” box after forty years in the attic

I’ve watched this happen six times – each creating false impressions of commonality.

Tracking the Real Story

My desk notebook contains twenty years of codes and observations:

• Dealer abbreviations scribbled in catalog margins
• Certification dates circled in red ink
• Old collection tags photographed before cleaning

This detective work separates true rarities from temporary floods.

Authentication Traps: My Hard-Earned Lessons

#1: The Cleaning Deception

Remember Lot 3-118VSK? The one labeled “cleaned”? My hands still remember how its edges felt wrong. Now I never trust labels without:

1. Midnight inspections under my desk lamp
2. Edge comparisons against confirmed specimens
3. Checking for unnatural "too perfect" surfaces

#2: The Great Grease Debate

Early in my career, I returned twelve coins before learning:

• Real strike-throughs leave “soft” impressions
• Plating bubbles mimic error shapes
• Environmental damage creates false patterns

My office now displays twelve “foolers” – coins even experts misjudged – as constant reminders.

Smart Collecting: When to Open Your Wallet

The Grade Sweet Spot

Lot 3-118W1G taught me a valuable lesson in 2017. MS-62 coins like this one:

Show enough detail to excite collectors but aren’t priced like perfection

My tracking sheets show these outperform “pristine” examples year after year.

Calculating True Value

After thirty-seven missed opportunities, I developed this simple approach:

(Base Price) × (Can You Spot It Across a Room?) × (How Many Exist?)

• Obvious errors = 2× multiplier
• Fewer than five known = 1.8×
• CAC approval = 1.5× (they’re pickier than my Aunt Martha)

Tomorrow’s Market: What’s Changing Right Now

The Certification Game

When PCGS added new categories last fall, I immediately pulled twenty coins from my “maybe” box. Pre-2020 holders suddenly became hidden treasures – undervalued by nearly half.

The New Collector Effect

At last month’s coin show, I watched three Millennials pass over technical rarities for:

• Coins with Liberty’s headdress obscured
• Pieces with two-tone error effects
• Any coin that photographs well for Instagram

These visual stunners sell faster than iced coffee on a hot day.

Your Turn at the Table

The world of $5 Indian strike-through errors rewards those who:

• Question auction house narratives
• Develop hands-on inspection habits
• Track the human stories behind coin appearances
• Spot what new collectors desire

Start small – examine that “common” 1910 in your collection again. Check where the bison’s horn meets the field. You might be holding a hidden champion. And if you find something? Bring it to the next coin show – I’ll be the one with the worn loupe and knowing smile.

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