Tommy J. is back !!!!

[DWLange]

The four sets for MS Jefferson Nickels are back up and running, newly scored. Check 'em out.

 

The scores for MS Jefferson Nickels within the type sets are still under construction, so you'll see these blank for now. We have three of our best men working on the problem.

[Hoot]

WooHoo! I just lost nearly 5,000 points from my set! I reckon I asked for it!

 

Good job Dave!

 

Now, if you can just get these three guys to cooperate!

 

Hoot

[Weidel Legacy Collection]

Wow - I was just looking at the war nickel set. Man-o-man, talk about a massacre after all the PCGS slabbed FS nickels were knocked back to 5 step ratings!

 

Hoot, when I first looked and saw how much your grade had dropped, it didn't dawn on me at first what had happened. I thought that maybe you were thinning the herd a bit! That changed when I looked at the content of your set and saw the 5-step designator for the Jeff's you have graded by PCGS.

 

But, since that's the way the designations are made, there was no choice.

 

Good work NGC!

[gmarguli]

I just lost nearly 5,000 points from my set!

 

Wait until the marketplace begins to realize that PCGS FS Jeffersons are as likely to be true FS as ACG FS are. Watch prices fall.

[DWLange]

The type set scoring is now in place.

[Tradedollarnut]

Just curious enough to ask:

 

What changed in the marketplace to cause the values of 5 step Jefferson nickels to all of a sudden fall? After all, aren't the Registry points a dumbed down version of retail value and isn't the 5 step the market standard? Now, I could see a bonus multiplier [such as with the star for eye appeal] for the 6 step coins, but I simply don't understand a drop for the 5 step version when prices don't reflect that fact.

 

Or is someone trying to start a trend that hasn't yet occurred?

[Hoot]

I tend to believe that the Jefferson nickel market has a long, long way to go before settling into any discernable pattern. As for the 5 vs. 6 step values, I believe that the 5 steppers will remain at the current value for the time being and that increased awareness of the 6 step coins will slowly push the value of those coins up. But really, who knows. (And I frankly don't care very much ).

 

For the time being, I think the PCGS registry cronies will keep the value of PCGS FS graded nickels at a dull roar.

 

I'm all for this move by NGC no matter what happens.

 

Hoot

[gmarguli]

I tend to believe that the Jefferson nickel market has a long, long way to go before settling into any discernable pattern. As for the 5 vs. 6 step values, I believe that the 5 steppers will remain at the current value for the time being and that increased awareness of the 6 step coins will slowly push the value of those coins up. But really, who knows. (And I frankly don't care very much ).

 

Heard the same thing about the FT Roosey's when the designation first came out. Turns out that the non-FT dropped in value (like I think the 5 step will over time) and the FT basically stayed around the same level as the same grade before the designation.

 

The 5 step should hold their value as long as the PCGS registry is strong. That means they are going down in value every day as their registry (both registries?) is losing its luster.

[EVillageProwler]

Between two values A and B, where what's important is the spread between the two, what's the diff between and increase in one and a decrease in the other?

 

EVP

 

[Tradedollarnut]

It matters because there is a value C - a non full step coin. If the difference between value B and value C is well established, dropping value B doesn't make as much sense as raising value A.

 

My head hurts.....

[EVillageProwler]

My head hurts.....

 

How 'bout your face?

 

Bwahahahahahahahahahahaha!!!

 

EVP

 

[Hoot]

Heard the same thing about the FT Roosey's when the designation first came out. Turns out that the non-FT dropped in value (like I think the 5 step will over time) and the FT basically stayed around the same level as the same grade before the designation.

 

The 5 step should hold their value as long as the PCGS registry is strong. That means they are going down in value every day as their registry (both registries?) is losing its luster.

 

I agree with you Greg that it may go the other way, I'm just guessing it won't. Overall, I think that the value of FS nickels will drop in the next 2 or 3 years. There are many that simply have not yet hit the market. The thing that the 5 step nickels have going for them that the FT Roosies didn't is a lengthy history of collection as full step nickels. Most people who collect the series could give a rip about the steps, IMO, so it's the specialists who, in the long run, will drive the prices on the FS nickels in the series. (Just another guess, I suppose).

 

And what TDN said about the non-FS coins in the series is interesting. I think these will go up in price as more people collect the series as an obsolete coinage. MS66 and better coins, FS or not, are quite worthy of collection in the series.

 

Hoot

[Tradedollarnut]

I wonder if there are enough 6 step coins to even make a market in them? If 5 step is the longtime accepted standard, I see those coins remaining at current levels. After all, I highly doubt the extra few points on one Registry is going to change the market very much.

 

I was just surprised that NGC took it upon themselves to fix the market value for 5 step coins - an attribute that has been accepted as long as I can remember. Adding a bonus for a 6 step coin seems like the better route to go.

[gmarguli]

If 5 step is the longtime accepted standard, I see those coins remaining at current levels. After all, I highly doubt the extra few points on one Registry is going to change the market very much.

 

Awarding more points for true full step coins will allow people to see the true finest set. It also isn't a few extra points. You should take a look at the scoring.

 

I'd be very impressed by someone putting together a near complete set of NGC FS Jeffs. I'd not even bother looking up for that same set in PCGS plastic. One is rare and the other is market graded.

 

 

 

I was just surprised that NGC took it upon themselves to fix the market value for 5 step coins - an attribute that has been accepted as long as I can remember. Adding a bonus for a 6 step coin seems like the better route to go.

 

How exactly are they fixing the market value? By awarding 5 step coins lower points than a 6 step coin in their registry?

 

And adding a bonus for 6 steps or discounting points for 5 steps accomplishes the same thing.

 

[Tradedollarnut]

And adding a bonus for 6 steps or discounting points for 5 steps accomplishes the same thing.

 

No, it doesn't accomplish the same thing. Discounting points for 5 steps brings them closer to no steps pricing. Not a bad thing, in my personal view since I don't care for strike designations myself - BUT...the market disagrees.

 

I've always felt the scoring in the NGC Registry was much more accurate than in the PCGS Registry. This is a step backwards away from that higher accuracy, IMO. The market values 5 step coins in PCGS holders at the old non discounted point values - NGC has arbitrarily discounted those and thus incorporated an inaccuracy into the scoring.

 

BTW: NGC has graded more than 5 examples of 6FS coins in only 20 dates - out of 150. That's way too small a sample for the 6FS to be considered the market standard - no doubt one reason they decided to start grading 5FS coins. So if 5FS is the standard, why have the Registry points for the standard been discounted? Instead, the tougher 6FS should have received a bonus. Semantics...perhaps. But more accurate.