The explosion of the error coin collecting hobby is due in large part to the fact that new coins with new designs are being minted every year. This is the state quarter line of coins that are coming out each and every year and they are making it much easier for people to get into this exciting hobby. The increase in hobbyists has made the error coin prices go through the roof and they continue to rise today.

Error coin prices like many other things depend greatly on the availability of the error coin. Rarity plays a big role in determining the price and the value and there is a shortage of many things in this hobby that makes it all the better for the person looking to invest.

There is also the matter of the popularity of a certain coin as it relates to value. Error coins that become popular will rise in the value and price department despite their actual rarity. Case and point would be the 2005 Speared Bison nickel. This coin features nothing more than a die crack that runs down through the back of the Bison on the reverse of the coin. Discovered in the early part of 2005, this coin immediately shot up in value and became an overnight success. This clashes with the supply and demand theory as there are more than enough of this particular coin for anyone who has a desire to own one.

Error coin prices will go up and down in a matter of days and this is thanks in part to the online auction venues. In years past the error coin market was small because there was very little in the way of global marketing for the collector. This meant that collectors were at the mercy of the local coin dealers in their area and very little if any error coins would filter through. Thanks to the internet and the online auction venues collectors have a potentially limitless supply of error coins to choose from. This has worked the error coin prices to a place where a lot of people are making a lot of money.

Error coin prices are also very dependent upon what the collector is willing to pay. This is the most important aspect of the market. It is true that a dealer can put any price on a coin that he/she wants, but if there is no one that is willing to pay that price then it does little good. Dealers know that all of the error coin prices thrive on the collectors themselves and that means that a certain amount of restraint must be shown when doing the pricing.