Maybe? 1940 Jefferson BETTER PHOTOS in recent post
joeykoins
Posts: 17,208 ✭✭✭✭✭
Hi guy's, picked this up today. 1940 Jefferson. 2 questions, one; is this a proof? And second; according to the Cherry Pickers' Guide, would you say I have these steps shown in the book? The wavy steps?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.3
Comments
Sure looks like it to me, if those are your steps, above.
What I'm not seeing on yours, in addition to the straight steps, are the incuse vertical lines on either side of the steps (see below). These incuse lines should be very clear on the common reverse of 1940:
Look at the obverse on your coin. Is Jefferson's bust full of die scratches, and does it have the odd patch of crisscrossing scratches I've circled below? The reverse of 1938 variety should have these scratches, although their appearance looks like it may vary somewhat by die state:
Looks like it.
Are these the "lines" you're referring to?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Bingo! I couldn't make a perfect overlay, due to distortion, but it's a match.
Can't wait to hear the story of how you cherrypicked this. Well done!
Thanks for yur help!
Of course, it was at my favorite shop. I actually first seen it Saturday. Thought about it over the weekend, than it finally hit me! Thought to myself. "Hey, Joe, that 1940 Jefferson you seen Saturday, could very well be the 1940 Reverse of the 1938?" Went back today, and luckily, it still was THERE! Lol.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Baby steps Joey, baby steps. LOL
Cool !
So it was just mixed in with tubes of business strikes? How much did you actually spend on it?
Wasn't mixed in tubes this time. I found it in a very small box of mixed Jefferson's, placed in a plastic 2×2 flip. I purchased one package of 25 quarter flips and the Jefferson. Both only cost me at a grand total of $5. Here is the coin after I just got through soaking in acetone for 5 minutes. Worth sending in?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Can't beat that - that's a score even for a regular proof!
I'd think carefully about it. What do you think yours would grade? There's a big spread in value between the lower and higher grades:
https://www.pcgs.com/coinfacts/coin/1940-5c-reverse-1938/94177
Neat find!
Yeah, not sure myself at the moment. I will show the coin to my dealer friend. He's pretty savvy. I would hope at least a 64?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.PR64 sells for about $100 - I think I'd want it to grade at least that high if I sent it in. Hard to gauge the value of grades lower than that because there are very few sales.
I’m confused, as the coin doesn’t look like a a proof to me.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The lighting in the photos is throwing you off.
A ) Look at the 2nd pair of photos in the original post. Although still somewhat ambiguous, you can see the brilliant fields a bit better.
B ) The obverse and reverse die markers confirm that it is proof.
Thank you. There is certainly a big difference in the different groups of images. I’ll take your word for it on the die markers.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I’m confused, as the coin doesn’t look like a a proof to me,
although the coin doesn't look like a Proof that's probably because it's impaired, the fields don't seem reflective as they would on a typical Proof coin. that is a result of the poor image quality.
as a 1940 Mint State coin, to my knowledge the Reverse of 1938 is unknown, being restricted to 1938-1939 dated coins only.
@JoeyCoins .... Nice find, congratulations.... Let us know if you send it in. Cheers, RickO
Congratulations, Joey. Good Cherrypickin'.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Congrats..........I read somewhere that estimated mintage for the 40 proof reverse of 38 is about 800-1000
Steve
Thank you guy's, for all your sentiments. About the lack of mirrored fields. You know what? My pics don't do justice for the coin. Lol. The mirrored fields are there! I'm just not showing them in my shots.
I'll try to take better pics later. Thanks
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Here are some better pics, I hope?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.If I'm not mistaken you are valuing it like the Rev of 40. If my memory serves me the Rev of 38 sells for multiples of that.
WOW, REALLY! That would be GREAT if you are correct? Thanks. Where did you read this?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Not Sure off hand but It may have come from Rodger's Proof's of 36 to 42 book or maybe Something from Bill Fivis, I hope I spelled that right. But anyways check it out on the PCGS Price guide under Proofs and it will be PCGS # 94177
and click on that number and it will give ya info on how many have been graded and auction results for the last 10 years in both PCGS & NGC..........it doesn't come up to often in auctions but it lists several dozen..........It is a relatively rare Jefferson Variety and very Underrated IMO...........And Yes I have one in 65 and it is one of my Favorite Jeffs
Steve
Oh and Yes I'm jealous
You hit a MAJOR SCORE, CONGRATS............You Definitely deserve the You Suck Award if they are still giving those out here 
Steve
Congrats!
You are correct, I went and grabbed my copy of RWB's book. One of the reverse dies from 1939 was carried over into 1940 and stuck 900 coins. He says that is most likely the source of the rev. of '38 coins which makes perfect sense to me.
@joeykoins if you are going to get into '36-'42 proofs I highly recommend the book
Collector, occasional seller
1) Congratulations!
2) I see what appear to be some tiny dings on the coin (just to keep in mind if submitting)
3) Try to estimate the value and see if it is worth slabbing, but one advantage to slabbing is that you wont have to re-explain or re-justify your variety attribution every time you show the coin to someone, or if you go to sell it. Your initial cost is low enough where you can probably take the hit on grading/attribution costs.
My pics don't do justice for the coin
I hate being the voice of reason sometimes, but the coin is impaired and no matter how you try to manipulate the pictures it won't change that. this is a coin that should be embraced for what it is and left at that. having it graded is akin to throwing good money after bad: you cherried a coin for $5 that might be worth $100, having it graded will cut into that value. additionally, this coin is like a lot of other coins, it has value but not many collectors will want to own it. sadly, an unknowing dealer and probably people before him were ignorant to what it actually was, didn't know it was a Proof let alone a very scarce Variety, so it was mishandled and abused.
I would grade it PR63 minus based on the images provided and PCGS might "no grade" because of the abuse.
--- the Reverse step detail was problematic from the beginning and in 1939 the Mint decided to change the reverse. I believe it was in November of 1939 that they struck a small amount of 1939 dated coins with the new die(s). then in 1940 one reverse die was accidentally used to strike coins which resulted in this variety.
Thank you guy's, once again. I have a thread about, " posting your BEST coin in your collection ". I may have to change my first choice? Lol
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.The value for the Rev of 38 drops off at lower grades. I suspected that @keets was right about the impairment - the latest photos are the clearest yet, and frankly I am still not sure... In low grades, I would agree that the coin is best appreciated raw as a very neat variety. Personally, design varieties like this one are my favorite ones to find.
One thing that I wish our host would do is consolidate varieties like these into a single CoinFacts page. Most of the population is listed on the original "Reverse of 1938" page, but after the variety was listed in the Cherrypicker's guide, they created a second page where the variety is listed as "Rev of 1938 FS-901". I've seen this happen for at least a few other varieties that PCGS tracked prior to the CPG.
https://www.pcgs.com/coinfacts/coin/1940-5c-reverse-1938/94177
https://www.pcgs.com/coinfacts/coin/1940-5c-rev-1938-fs-901-024/38540
.
.
With varieties such as this, similar statements appear in various sources, but they are speculative. We really don't know if the Rev of 1938 die was used accidentally vs. intentionally - just that only one was used to strike 1940 5c proofs.
Nice pick @joeykoins .
I think it will grade but the shallow mirrors although common for this date would limit the grade.
No doubt it is a proof and rev of 38.
You bought this as a business strike?
Helluva buy.
"Keep on Truckin" (Picking).
I think that's a good idea - I keep looking at your photos and going back and forth. Is it a nice proof with some planchet chatter and an acceptable degree of toning/hazing, or is it impaired? I really can't tell.
In looking at the CoinFacts images for this variety, a lot of the coins look chattery, including high-graded ones.
Edit: The more I look at your best photos, the more it looks to me like a nice coin - as you say, it appears that some of the photos are just unflattering.
Pulled the trigger! The coin is in route to PCGS! Anticipation starts NOW! Lol.
Expecting around Christmas. 🎄🎅
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.I keep looking at the photo's and really can't see it not getting a 64 if you choose to send it in
Heck they only minted 45 Buck's worth of them compared to 700 buck's of total proof production and Philadelphia's total production of $8,885,000.00 million buck's worth of 1940's
Steve
Looks GEM Proof and I am jealous! Nice pick-up and worth sending in (as you are). The price guides are crazy for higher grade proofs of this variety.
Your persistence has paid off in spades.
Congratulations.