Monroe Dollar Wrong Planchet Error

February 6, 2008

The US Mint has accidentally struck between 70,000 and 140,000 Monroe Presidential Dollars on State Quarter planchets. With the Monroe Dollar due to enter circulation in less than two weeks, it is still uncertain whether any of these errors will find their way into collector's hands.

The error coins were detected by a private contractor of the US Mint that wraps coins before distribution to banks. The workers noted some irregular Monroe Dollars from the Philadelphia Mint and contacted the US Mint. All of the irregular coins were supposedly recovered and returned to the Mint to 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.

If any of the error coins find their way into circulation 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.