1970 P Lincoln penny. Floating roof.

[jin3d9]

I was wondering if this was a decent example of the so called Floating roof?

[Earle42]

After a bit of experience in the hobby, most collectors understand the "floating roof," has been on pennies since 1959, adds no lasting value, and are flash-in-the-pan "L@@K RARE FLOATING ROOF CENT! only $2,000.00!" type ebay auctions taking people for a ride. The phenomenon is happening b/c people are just now noticing these things due to microscopes being so inexpensive.

Since this is being written, and writing cannot convey attitude, please take the following as having no condescending or negative tones to it at all. Its all just fact we see time after time on this forum. I want to help you find a better way to spend your time with coins.

Problem: eBay fads.
1. Find a cutesy name to give a common error like a die chip.
2. List it as "L@@K RARE COIN ERROR!!!!" on ebay for 50.00 BIN.
3. Get some poor sucker to spend the 50.00 and find, when they go to sell it, they have been taken for a ride.

Then there are those honest people who see a couple of the worthless coins sell for big bucks (not knowing the buyers have been suckered), decide to try their hand finding/selling "rare" coins," and are excited because they quickly find quite a few of these "rare" errors while being amazed at how "lucky" they are finding something worth so much money.

Oops.

Which is exactly why these coins are not rare errors...anyone can find them rather easily.

If you want to find some legitimate errors that the hobby puts some value to:
Save Yourself time, effort, and disappointment...don’t learn the coin hobby backwards.

Looking for random anomalies on coins and hoping they match up to something collectable will take you a lot more time, wasted effort, and disappointment repeatedly finding out you have nothing but post mint damage or useless machine doubling, die deterioration, etc.

Spend some initial time at places like error-ref.com, doubleddie.com, varietyvista.com, conecaonline.org, coppercoins.com etc. to find what actual and collectable coin errors look like.

A good way to start is, for instance, separate a bunch of pennies by date. Go to varietyvista.com and, date by date, use the reference there to see what errors are known for that specific coin/mint mark. Look for those specific errors/varieties using the pictures provided. After doing this for awhile you will KNOW what an actual error looks like and not have to waste time on face value and damaged coins.

[Paul]