Double-Struck Mint Errors

N O T E W O R T H Y N O T E S A New Discover y Receives a Freidberg Number

B y P h i l i p T h o m a s

Friedberg... It’s one of the most preeminent names in all of American numismatics – one that is practically synonymous with United States banknotes. It’s what “Th e Red Book” is to coins, what “Scott” is to stamps, and what “Pick” is to world banknotes.

Reliably referenced and undeniably universal in its acceptance among professional currency dealers and hobbyists alike, Robert Friedberg set out in the early 1950s to create the most complete and elite standard reference work possible. Nearly two-dozen updated editions of “Th e Friedberg” (formally titled Paper Money of the United States) have been published over the seven decades since under the direction of Robert’s two torch-carrying sons, Arthur and Ira.

PCGS Banknote employs the Friedberg numbering system on its holder labels (stylized as “Fr.” followed by a variety-specifi c catalog number) for any applicable United States banknote that it certifi es. Th e research team here, like clockwork, habitually makes quick work of identifying and attributing this material with the proper Friedberg number thanks to both its elephant-like memory as well as the guide’s color-coded, conveniently organized and generously illustrated format.

Recently, this well-oiled machine was thrown a bit of a monkey wrench when a variety of banknote that had entered its operation – wait for it – had simply not yet been cataloged. What an exceptional occurrence!

Th is extremely rare Original Series $50 National Bank Note from the First National Bank of Geneva, Ohio, has a combination of characteristics that is currently not accounted for in Friedberg: the earliest Treasury signature combination of Chittenden and Spinner, red serial numbers, and bank charter numbers – in this case “153” – overprinted in red ink at left and right. Th e current closest Friedberg number would be the Fr. 440a, which has the same signatures and serial numbers printed in red but does not display charter numbers any where on the note.

Our fi rst call was to Arthur Friedberg himself, who acknowledged the omission and informed us that this variety would now be recognized as a Fr. 440b and listed as such within future editions of his eponymous publication. Our second call was to highly reputed numismatic researcher and prolifi c writer Peter Huntoon to learn more about what went into the making of this previously unrecognized variety.

Th e “Without Charter Number” and “With Charter Number” divide for not only Original Series $50 banknotes but all denominations of Original Series nationals boils down to a federal act of Congress passed on June 20, 1874. Th e new law required the Bureau of Engraving and Printing to place charter numbers corresponding to the issuing national bank on each note that it produced moving forward as well as on any unissued, uncut sheets of National Bank Notes that were in the physical possession of the comptroller of the currency at the time. Under the terms of the act, the burden of sorting and redeeming National Bank Notes was transferred from the private banks themselves to the Treasury department and the government felt that by adding these numeric identifi ers in big, bold red print, the cumbersome accounting job would be made much easier for them.

Th e encountering of an uncatalogued specimen that requires the generation of a new Friedberg number is far from commonplace. Th e PCGS Banknote team was honored to have played a role in the formal recognition and adoption of the Fr. 440b in addition to being able to certify this remarkable note.

Newly recognized Fr. 440b displays both red serial numbers and bank charter numbers. Courtesy of PCGS TrueView.

Because banknote lots were hung on Southern California coin shop bid boards eye-level with a fi rst-grader, a young Philip gravitated toward collecting notes versus their circular metal numismatic cousins in the mid-1980s. He has maintained his passion for banknotes ever since and joined PCGS in his current role as banknote specialist and research manager since the launch of PCGS Banknote in early 2020.

Double-Struck Mint Errors

By Jon Sullivan

A double-struck off -center coin is one of the most common types of double-struck errors. Courtesy of Jon Sullivan.

A very popular mint error type is the double-strike. It is dramatic in appearance and easily understood. Some of the most valuable mint errors are double-struck coins. Doublestrikes are found on the earliest ancient coins all the way up to the modern-day coinage. Because of how coins are made, being “struck” with dies, it’s an error type which will likely always be with us (and that’s a good thing!)

As the name would suggest, a double-strike is a coin that is struck “twice.” Th e double-struck coin typically will be struck correctly on the fi rst strike, but then will be struck again either on-center or off -center. A double-struck coin is one that has just been struck twice, but the number of times a coin can be struck is infi nite, and some coins are known with over 100 strikes on them.

Let’s talk about the four primary double-struck types: the double-struck off -center, the double-struck on-center, the multi-struck, and the fl ip-over double-struck.

Th e double-struck off -center occurs when a coin is struck and then fails to be fully ejected from between the dies before being struck a second time with the strike off -center. Above, we see an example of a double-strike with the second strike off center. Th is is the most common of the double-strike types.

Double-strikes on-center generally occur when a coin is struck, fails to be ejected from the collar die, and is struck again with the second strike directly on top of the fi rst strike. Oftentimes, double-strikes on-center will be rotated between strikes, with the fi rst strike not perfectly aligned with the second strike.

Th e double-struck on center shows the second strike virtually on top of the primary strike. Courtesy of Jon Sullivan.

Multi-strikes carry at least three strikes but can bear potentially an infi nite number of strikes. Courtesy of Jon Sullivan.

A multi-strike is a coin with three or more strikes. Multistrikes can be either on-center or they can be off -center, but in order to qualify as a multi-strike, the coin must have at least three strikes present. It is not uncommon for a coin to be struck four or fi ve or more times, although generally the more strikes a coin has the scarcer it will be.

Why do double-strikes occur at all? Usually, it’s because there is something not working correctly with the coin press’ ejection system, and the feeder fi nger (which is what puts planchets between the dies and ejects them from the die) is not working correctly; it fails to eject the struck coin from between the dies. When this happens, the dies strike the coin a second, third, or more times until either the coin is ejected or a mint employee notices the press is not functioning properly, stops the press, and fi xes whatever the issue is.

Back before the striking of coins was fully automated, planchets were hand fed into the presses, and if a struck coin was not quickly grabbed by the press worker, the dies might come down a second time and give the coin another strike.

Th ere are many variations and combinations of doublestrikes, which are too numerous for the purposes of this article. However, one of the most common terms used with double-strikes is the term “uniface,” which means that one side of the strike occurred with another planchet blocking the strike, keeping it from receiving a normal strike on that side. Th is is less desirable than a coin struck on both sides. A coin which is struck on both sides is termed “die struck both sides.” Double-struck coins that are die struck on both sides are usually worth 25-100% more than uniface coins.

Flip-over double-struck coins are among the scarcest of this category of mint error. Courtesy of Jon Sullivan.