What is a double headed dollar coin worth?

Answer 1

Answer

This is NOT something that was done at the Mint. It's a privately made novelty item, known as a Magician's Coin, created by altering two normal coins and joining the pieces back together. Use a magnifier to check just inside the rim on one side of the coin -- you are looking for the seam where the two pieces were joined -- it could be on either side of the coin.

They cost about $7-8 new from novelty shops and sell for $2-3 on eBay. They have no value to coin collectors, however, because they are privately made by damaging genuine coins.

The only possible good news is that if you have an older magician's dollar made from coins dated 1935 or earlier, it would have enough silver in it that you could probably sell it to a scrap dealer for around $10.

The other thing you could do is hold onto it for magic tricks and making bets.... but be prepared to run fast if you use it for a bet.

More

Many years ago the Mint had all coin presses redesigned so that dies are "keyed". That is, obverse dies only fit into the obverse anvil and reverse dies fit into the reverse anvil. It's physically impossible for two same-side dies to be put into a press. While many errors including "mule" coins (half one denomination, half another) can still occur, double-headed coins are not and cannot number among those mistakes.

See the related Web Links for more info.

Dan Moore The Working Man's Rare Coins http:/www.workingmancoins.com