Is there a premium for NGS FS jeffersons over PCGS?

clackamas · October 9, 2002 7:01PM

I have a 1940-S Jefferson I just found that is easy 66 prehaps 67 and has full clear 6 steps. NGC requires 6 full steps for FS designation while PCGS only require 5. SInce my coin meets the NGC criterion I am thinking of having it slabbed by them. My intention is to sell the coin so I want the coin to get the recognition it deserves over lesser FS coins and hence the reason for sending to NGC. My question is: Do NGS full steps garner more at auction vs. PCGS coins of the same grade?

HoundDog · October 9, 2002 8:36PM

I am glad you asked that.

I am thinking about getting into FS Jeffersons, and was wondering the same thing.

I hope we both find out.

wallstreetman · October 9, 2002 8:58PM

I seriously doubt it!

leothelyon · October 9, 2002 9:01PM

Despite the fact that PCGS doesn't designate 6 steppers, I believe it would still do better in their holder. It would help if PCGS grades it a 67 as the pop is only 3/0. As for NGC, I have searched their site for their critera's or definitions for FS Jefferson's and have been fruitless. They have notoriously graded many MS67 FS Jeff's over the years so I'm skeptical that their requiements for what is allowed for their registry sets is limited to 6 step coins only. The FS designation is for 5 step coins and as the 6 step designation is for 6 step coins and it would be impossible for anyone to complete a NGC registry set if the requiement was limited to 6 step coins only is my guess. If the 6th step is as strong and problem free as the other 5 steps and if it pans out to a MS67 by PCGS, let me assure you that there are buyers out there for this calibur of a coin and don't forget that it may not be too long before PCGS changes their stance on 6 step Jefferson's.

Leo

TheBlackKnight · October 9, 2002 10:17PM

For those interested in full step Jefferson nickels, you may want to check out the full step nickel club, president is Darryl Crane. There is a newsletter, price guide, and scarcity guide.

Gilbert · October 10, 2002 1:38AM

Clackamas,

According to "The Jefferson Nickel Analyst" the term means at least five steps are present, and many pre-1971 issues do not even have six steps on the working die.

I only mention this to point out that without looking at issue that has been designated, you can't know a coin is "more detailed" simply because it is so designated by NGC. If NGC is true to is criteria, then I guess you can be assured there are six steps on an NGC coin, but being in a PCGS slab doesn't automatically equate to the coin having less than six steps.

IMO, the benefit to PCGSs designation is that you should be able to expect a certain amount of detail for EACH year in the series; if you rely on the NGC designation there will be some years where a coin may impart the highest "step" detail possible, yet there is no designation to alert you. Again IMO, that IS the main purpose to the designation.

CarlWohlforth · October 10, 2002 1:42AM

Last year I had 6 FS NGC MS 67 Jeffs. I saw that two had 6 full steps and that the other 4 might not have 6 full steps, but had at least 5 good ones. I sent in the two to PCGS and they crossed. I sold them for well more than I bought them for even after grading costs

I don't know if the market is still that much in favor of PCGS FS Jeffs.

leothelyon · October 10, 2002 9:24AM

and many pre-1971 issues do not even have six steps on the working die.

Hi Gilbert
I couldn't agree with you more as many have this same idea but here's an interesting picture. It's an off-centered 1949 that shows 96% of the 6th step.

Leo

Is there a premium for NGS FS jeffersons over PCGS?

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The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

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