Collectors get excited when they discover coins with design errors that occurred during the printing process. People who collect these items are also known as numismatists, and they pay top dollar for the pieces because of their rarity. One of the most highly sought-after examples is the mule coin, and you can learn more about them in the following guide.

What Is a Mule Coin?

This type of coinage derives its name from the mules found in the animal world. Just as those creatures result from the mating between a male donkey with a female horse, mule coins have a distinct combination, as well. They occur accidentally when the currency is produced with two dies or printing plates that were not supposed to be paired together. These pieces have an obverse, or head, from one piece of currency and reverse, or tail, from another.

A prominent example of numismatic mules are the verified 17 Sacagawea dollar planchets. These were struck by a Washington quarter dollar obverse die with a Sacagawea dollar reverse die. Thousands of these errors were created before anyone noticed the mistake. The manufacturer destroyed as many of the mules as they could, but a small number escaped into circulation.

Are They Valuable?

Since numismatic mules occur accidentally, there are very few of them found in circulation today. The shortage in this currency makes them valuable to collectors fascinated by error coins. One Sacagawea dollar planchets sold for a record price of $192,000 in 2018.

However, that’s not the only case of mule coins selling for large sums of money. In 1959, the United States retired the traditional Wheat reverse for pennies, replacing it with the modern Lincoln Memorial reverse. However, an error in the printing process resulted in the old reverse being used.

While some auctioneers believe they created thousands of these mules, only one has ever been discovered in circulation. In 1987, the U.S. Treasury confirmed its authenticity, once again declaring it genuine in 2002 after a more comprehensive review. When that mule went to public auction in 2019, it was purchased by a collector for $50,000.

 

Whether you are searching for rare error coins or have numismatic mules you’d like appraised, visit Collector’s Palace Coins & Jewelry in Streetsboro, OH. This one-of-a-kind shop is a collector’s dream, housing a fantastic inventory of rare currency. You can browse their selection to find the newest addition to your collection or have a piece appraised with their streamlined process. Call (330) 626-2464 to speak to a representative, or visit them online to learn more.