November 16, 2007
(Newport Beach, California) - Professional Coin Grading Service has certified the first reported Sacagawea golden dollar coin struck with the edge lettering intended only for Presidential dollars. The submitter will receive a $10,000 finder's reward from PCGS.
"The United States Mint set up specific internal procedures in an attempt to prevent this type of error from happening. But it did happen, and it's an amazing-looking error," said Ron Guth, PCGS President.
The 2007-dated coin was struck at the Denver Mint and has been examined and authenticated by the experts at PCGS. The coin was submitted by Andrew Moores of Lakewood, Colorado who found the coin in his pocket change. Moores believes he could have had the coin for as long as two weeks and only noticed it when he compared it with other Sacagawea Dollars that he had already set aside.
Moores was unaware of the reward until a coin collector friend mentioned that he had seen the offer on the PCGS Message Boards. According to Guth, who spoke with the submitter about the find, "Needless to say, Mr. Moores is a very happy man."
PCGS also confirms it now has certified 301 Jefferson dollars erroneously struck without edge lettering.
"Four different Presidential dollars have been released so far -- George Washington, John Adams, Thomas Jefferson and James Madison -- and now we've seen the so-called 'Godless' error on three of them. It seems ironic that we've got Presidential dollars without the motto In God We Trust and an error Sac dollar that has it on both the obverse and the edge," said Guth.
This past March, PCGS announced it was offering a $10,000 reward to the first person who submitted for verification a genuine Sacagawea dollar struck with Presidential dollar edge lettering. The incuse lettering includes the year of minting and the mottos, IN GOD WE TRUST and E PLURIBUS UNUM. Normal Sacagawea dollars have plain edges.
"We figured sooner or later an edge-lettered Sac dollar would be produced because there are literally hundreds of millions of Presidential dollars being struck. There's one additional major error we think might show up: an over-strike with both the Sacagawea and Presidential designs on the same coin." said Guth. PCGS has a standing offer of $10,000 to be the first to authenticate such an overstrike.
Earlier, PCGS paid a $2,500 finder's reward to Ray and Mary Smith of Fort Collins, Colorado who submitted the first known lettered-edge blank planchet Presidential dollar in March soon after the Washington dollars went into circulation.
PCGS is the world's largest rare coin authentication company and a division of Collectors Universe, Inc. (NASDAQ: CLCT). Additional information is available from Professional Coin Grading Service at (800) 447-8848. E-mail: [email protected].