Morgan Silver Dollar
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The US Mint has reportedly struck between 70,000 and 140,000 Monroe Presidential Dollars on planchets intended for State Quarters. Instead of using the golden color coin blanks associated with the dollar coins, the silver colored blanks used for State Quarters was accidentally used. As a result, the error coins will appear silver in color instead of the intended golden.
A private contractor of the U.S. Mint detected the errors. The private contractor was wrapping the coins prior to distribution to banks. Workers noted the appearance of "irregular coins" within the Monroe Dollars from the Philadelphia Mint. The United States Mint was immediately contracted and all of the irregular coins were supposedly recovered. These will be returned to the Mint to presumably be destroyed.
The US Mint has issued the following statement:
In mid-January, the United States Mint's coin-wrapping contractor alerted the agency when it found some irregular James Monroe Presidential $1 Coins. The coins in question were immediately returned to the United States Mint. The United States Mint has performed an internal inquiry and presently has no evidence to indicate that any irregular James Monroe Presidential $1 Coins have been sent to the Nation's banks. The United States Mint expects to make an estimated 103 million James Monroe Presidential $1 Coins.
It is possible that not all of the irregular coins were found by the private contractors or that some were wrapped before the problem was detected. If any of the error coins find their way into private hands it would add to the interesting variety of Presidential Dollar error coins which have already surfaced. Previously coins have been identified with missing edge lettering and double edge lettering.
Presidential Dollars are supposed to have the mottos "In God We Trust" and "E Pluribus Unum" along with the date and mint mark inscribed on the edges of the coin. Missing Edge Lettering Errors occur when the inscriptions are missing from the coins. These coins can also be called Smooth Edge or Plain Edge Errors.
In a few cases, the edge lettering has appeared twice or doubled. Sometimes the doubled lettering is right side up and sometimes it is inverted. These errors are referred to as Double Lettering or Double Inverse Lettering Errors.
On February 14 when Monroe Dollars enter circulation, coin collectors should be on the look out to see if any of these interesting error coins surface.
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Morgan Silver Dollar