NGC-certified Wrong-planchet Cent Represents a Golden Opportunity

A spectacular mint error coin certified by Numismatic Guaranty Company™ (NGC®) is turning heads among collectors. Offered by GreatCollections, the 1906 Indian Head Cent struck on a Mexican Gold 5 Peso planchet is graded NGC Mint Error VF 25. Bidding, which had already surpassed $50,000 in late August, is expected to go even higher before the sale concludes on September 18, 2022.

1906 Indian Head Cent Struck on Mexican Gold 5 Pesos Planchet graded NGC Mint Error VF 25 Click images to enlarge.

The Mexican gold planchet is identifiable by the edge lettering “INDEPENDENCIA Y LIBERTAD”. Sometimes, errors of this type involve a planchet that is significantly different in size, resulting in the dramatic truncation of the design. That’s not the case here, because the Mexican coin and the Indian Head Cent both have a diameter of 19 mm.

However, the error coin is about a third heavier than what is expected. Mexico Gold 5 Pesos planchets are 90% gold and 10% copper and weigh just over 4 grams. Indian Head Cents are supposed to be struck on planchets of 95% copper that weigh 3.11 grams. (Today’s cents, while still 19 mm in diameter, weigh only 2.5 grams due to a composition change several decades ago.)

The coin was reportedly discovered at a coin show by the consignor. Its condition attests to it being frequently handled over the past century until it was finally found in the bulk box at the show. The consignor submitted it for authentication and grading to NGC, whose grading team has world-leading expertise in mint errors.

Related Articles:

• Learn Grading: What Is a Mint Error? - Part 4
• NGC Coin Explorer: Indian Cents (1859-1909)