Tête-à-Tête With Sanjay: An Interview with Error Coin Legend Fred Weinberg

I’ve been in the coin business only 10 years while Fred Weinberg is a decades-long specialist within the field of error coinage. I take the “specialist” part back… He’s a legend in numismatics, and at the same time one of the nice, humblest persons anyone will ever meet. Some of you may know Fred and some of you may have never heard of Fred Weinberg.

I first met Fred at a coin show about eight years ago or so. He had some world coin errors, and I asked a few questions about prices in general. Then, the other coins displayed in his cases blew me away. I can’t recall what errors he was specifically carrying at the time, but whatever it was, it was total “error eye-candy,” thought the coin dork in me. His inventory is always mind blowing to say the least, Fred is a super-congenial guy, knowledgeable may be underselling his actual knowledge base, and the man always has a smile on his face.

Highlights from Fred’s collection were displayed at the American Numismatic Association World’s Fair of Money for everyone to view. Unfortunately, I didn’t get a chance to view his collection in person that was exclusively graded by PCGS. His collection will be auctioned solely through Heritage Auctions in 2022, and each item will bear the pedigree “FRED WEINBERG COLLECTION” with a special gold label. Since I missed seeing his collection at the ANA in Rosemont, Illinois, I’ll get a second chance to see everything online a second time around, and there will be much to see, folks.

I was passing by Fred’s table at the most recent World’s Fair of Money to give him one of PCGS’s 35 Anniversary Medals, and I decided to ask him for an unplanned interview. Fred obliged, and below is our conversation from August 13, 2021:

Sanjay: “Fred, you started in 1972?”

Fred: “I started as a full-time dealer in 1972. I was able to turn a hobby into a profession for the last 50 years. In 1986, I was one of the first 31 dealers appointed to make markets in PCGS coins.”

Sanjay: “That’s pretty awesome.”

Fred: “And then by 1999 […] PCGS wanted to expand into that market, I was asked to authenticate any error coins, and I’ve been an authenticator for 22 years now.”

Sanjay: “When did you start with errors in the beginning, was it in 1972 like you mentioned.”

Fred: “I started collecting coins when I was eight and probably by the age of 10 I was fascinated by error coins.”

Sanjay: “No kidding!”

Fred: “Pulling coins out of pocket change and I had a mail-order business selling...”

Sanjay: “What year was that if you don’t mind me asking?”

Fred: “I was born in 1950, so this would have been ‘58, ‘59... 1960 is the year I started as a dealer.”

Sanjay: “Wait, you were 10 years old when you started as a dealer, and you had a mail-order business?”

Fred: “I had a mail-order business that probably didn’t start ‘til I was 12 and sold coins for 10 cents, 20 cents... I sold die-cracked coins, blob-lettered coins, and that’s how I started.”

Sanjay: “That’s pretty impressive...” [I say coyly]

Fred: “I joined the very first Error-A-Rama coin show that was held at the Hollywood Roosevelt Hotel on Hollywood Boulevard in the summer of 1967. Three of my mentors started the first Error-A- Rama, we had a coin club… It was a vibrant era community back in the ‘60s.”

Sanjay: “Who were your mentors if you don’t mind me asking?”

Fred: “The three people I credit with giving me the motivation and the encouragement to get into coins, was a gentleman named Arnie Margolis, who published Error Trends coin magazine. A gentleman named Mort Goodman, who wrote the book on cuds or cud coins. Another gentleman [is] Syd Kass, who just passed away at age 101.”

Sanjay: “I’m sorry to hear.”

Fred: “He was very active in the Stockton, California, coin club.”

Sanjay: “Wow. And now, you’re going to retire.”

Fred: “Now after 50 years I’m going to be one of the few dealers that retires instead of going underground, literally, with his inventory.”

Sanjay: “But we’re still going to see you?”

Fred: “I will come to an occasional show to socialize, but I’m going to close my business, and I am going to stop buying and selling in another four to six months. It’s going to take me that long to liquidate most of my inventory.”

Sanjay: “Thanks for your contributions to the industry.”

Fred: “My pleasure, and it’s always been fun.”

Sanjay: “Thanks, Fred.”

Fred: “Thank you for these, and I thought you were laying them out to ask me what they were worth.”

Sanjay: “Ha ha, no, they are for you and are medals we had struck to commemorate PCGS’s 35th anniversary. The obverse and reverse were designed by Justin Kunz and Ron Sanders, who are United States Mint Artistic Infusion Program Artists.”

Fred: “Thanks...”

Sanjay: “You’re welcome, and thank you.