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Full Step non-SMS 1965 Jefferson Value

Started by glennm,

30 posts in this topic

glennm

glennm

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Just now, bsshog40 said:

Well I don't see any values in the NGC price guide and PCGS only shows 1 1965 priced in MS65 FS grade for $5,000. 

Strange when you look at the 1966 populations and values.

 

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numisport

numisport

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One of a large submission and an obvious mistake. I've wondered how they can tell whether or not it is an SMS coin when there are no mirrors or contrast. Anyone comment ?

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WoodenJefferson

WoodenJefferson

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3 minutes ago, numisport said:

One of a large submission and an obvious mistake. I've wondered how they can tell whether it is an SMS coin when there is no mirrors or contrast. Anyone comment ?

There is no sure fire way of detecting a SMS Jefferson and a business struck one unless you have a bit of frost on the SMS devices and a bit more reflective field. They just stand out. As I understand, the SMS were struck at a slightly higher pressure but still went into catch bins which created dings, dents and scuff marks. I've seen some god awful looking nickels in all 3 years of Special Mint Sets 65/66/67 there was absolutely nothing special about them.

NGC is going to need to corral this particular coin and correct the deficiency.

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glennm

glennm

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About a year ago, I saw an NGC 1959 MS 67 5 FS for sale that appeared to lack even four full steps.  I contacted NGC thinking that the seller had cracked out a legit coin and was selling a replacement.  NGC verified the image of the coin for sale with their files and that was the end of that.  I'm looking forward to examining the 1965 coin in hand since steps can be tricky to photograph properly.

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Six Mile Rick

Six Mile Rick

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1 hour ago, glennm said:

  I'm looking forward to examining the 1965 coin in hand since steps can be tricky to photograph properly.

I sure hope you didn't pay much for that. It very clearly is not a FS nickel.

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glennm

glennm

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27 minutes ago, numisport said:

Why call them 'full steps' with 5 steps when there is 6 steps there ? Anybody been to Monticello ?

So many dates and mints have no six step nickels attributed, I suspect NGC decided to establish this designation to parallel the criteria PCGS uses to attribute FS and avoid overly restricting the interest in the Jefferson nickel grading at NGC.   

Does anyone have published data on populations of the old NGC holders that have only FS?

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physics-fan3.14

physics-fan3.14

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3 hours ago, numisport said:

Why call them 'full steps' with 5 steps when there is 6 steps there ? Anybody been to Monticello ?

The PCGS standard is 5 steps for FS. 

NGC offers both a 5FS and 6FS designation.

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glennm

glennm

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On 1/20/2018 at 2:21 PM, Six Mile Rick said:

I sure hope you didn't pay much for that. It very clearly is not a FS nickel.

"Buy the coin, not the holder." is a quote I frequently see.  I think that buy the coin & the holder is also good.   The way I interpret the posted NGC guarantee, this coin is quite valuable!

https://www.ngccoin.com/coin-grading/ngc-guarantee/

 

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WoodenJefferson

WoodenJefferson

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33 minutes ago, e1cnr said:

maybe they meant MS 66 PL ?

I doubt that, there was a string of FS designation and the operator punched out a 5FS tag, pretty much had to stop to make a make a PL tag, right?

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glennm

glennm

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This coin was in a bulk/prescreen of 240 Jeffs with a 65 FS or 66 cutoff.   NGC split  the group into six sets (invoices): 65 5FS, 65 6FS, 66, 66 5FS, 66 6FS, & 67 5FS.  This 1965 was in the 66 grouping, which contained 69 coins.  14 of these were downgraded to MS 65, one upgraded to MS 67, & five upgraded to MS 66 5FS, including this 1965.  In all my submission so far, I've never had a coin receive a +, *, or PL designation.  I've screened lots of coins, have a decent scope, and think I have a relatively keen eye.  I certainly didn't expect this coin to go 5 FS, but I have several 1965, 1966, and a couple other years/mints that have three to four steps.  I have a 1966 next to my scope that will be in my next submission, & it has a chance to go FS.  After I receive this coin, I hope to find it has faint, unbroken lines for the steps.  I plan to post some images when I have a chance.

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e1cnr

e1cnr

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1 hour ago, glennm said:

This coin was in a bulk/prescreen of 240 Jeffs with a 65 FS or 66 cutoff.   NGC split  the group into six sets (invoices): 65 5FS, 65 6FS, 66, 66 5FS, 66 6FS, & 67 5FS.  This 1965 was in the 66 grouping, which contained 69 coins.  14 of these were downgraded to MS 65, one upgraded to MS 67, & five upgraded to MS 66 5FS, including this 1965.  In all my submission so far, I've never had a coin receive a +, *, or PL designation.  I've screened lots of coins, have a decent scope, and think I have a relatively keen eye.  I certainly didn't expect this coin to go 5 FS, but I have several 1965, 1966, and a couple other years/mints that have three to four steps.  I have a 1966 next to my scope that will be in my next submission, & it has a chance to go FS.  After I receive this coin, I hope to find it has faint, unbroken lines for the steps.  I plan to post some images when I have a chance.

Are they like PCGS where the bulk submission fee is related to graded values?

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glennm

glennm

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Just now, e1cnr said:

Are they like PCGS where the bulk submission fee is related to graded values?

Yes, the fees are related to the grade, however, I don't think the $5. difference would be adequate justification for the only 1965 FS nickel ever graded by NGC.

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coinman1794

coinman1794

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On 1/21/2018 at 4:12 PM, physics-fan3.14 said:

The PCGS standard is 5 steps for FS. 

NGC offers both a 5FS and 6FS designation.

This is correct. Also, for a short time, NGC started designating FS and FT on SMS nickels and dimes, so it's possible to find older, mid-2000s slabs with those designations.

The present coin appears to be a mechanical error.

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