NEW YORK — Is it a dime? Or is it a nail? ADVERTISING NEW YORK — Is it a dime? Or is it a nail? In probably one of the oddest items to come to the world of coin collecting,
NEW YORK — Is it a dime? Or is it a nail?
In probably one of the oddest items to come to the world of coin collecting, Dallas-based Heritage Auctions has announced the sale of a Roosevelt dime that was accidentally (or some say deliberately) struck onto a zinc nail.
Yes, that piece of ironmongery used to repair your roof.
The dime/nail is estimated to be worth roughly $10,000.
In the billions of coins it has made over its history, the U.S. Mint has made more than a few errors. There were Lincoln pennies that were struck onto the material for a dime, Washington quarters struck more than once, wrong dates on coins, etc. Most errors are caught by the Mint, but occasionally a few make it out into circulation. Those error coins have been highly sought by collectors.
This error coin coming to auction in January in Tampa, Florida, is one of the more bizarre errors to come to public attention. In a weird linguistic twist, another name for the 2-inch nail is a sixpenny nail.
It is not the first coin printed onto a nail, however, said Fred Weinberg, a coin dealer considered one of the top experts in error coins. A few pennies in the late 1970s were struck onto nails. This dime/nail is undated, so there is no way to tell when the item was created. Weinberg said it is possible the dime/nail was made on purpose by a rogue Mint employee.
A spokesman for the U.S. Mint was unavailable to answer the question of whether the nail/dime is considered valid currency.
The auction for the dime/nail will be Jan. 6 as part of a larger Heritage auction. Electronic bidding for the coin has already started, however. The current price for the item is $3,200.
