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1971-S Eisenhower 40% Silver Peg Leg Variety Question

Raybob15239Raybob15239 Posts: 1,359 ✭✭✭
edited May 29, 2021 11:45AM in U.S. Coin Forum

I have a question for the Ike collectors about the Peg Leg variety. I have a set of PCGS graded Ikes and have started adding varieties to it. I've picked up a couple along the way and recently found a Proof 71-S 40% Silver with the Peg Leg R.

I see coins attributed as "FS-401 Peg Leg" and they are all business strikes. I understand that the Peg Leg also appears on proof 1971-S Silver Ikes. Is there a designation for that or is it only for the business strike coin? As I said, I recently acquired a 71-S Silver Proof that has the peg leg R as well as having one with the R with the serifs. Both are PCGS PR69. I was wondering if (1) does PGCS recognize the proof Peg Leg and label it as such and (2) if so, is it worth it to send it in to be reoldered with the designation? Also, is the peg leg or the regular R more common in that date?

Thanks!

Successful B/S/T transactions: As Seller: PascoWA (June 2008); MsMorrisine (April 2009); ECHOES (July 2009) As Buyer: bfjohnson (July 2008); robkool (Dec 2010); itsnotjustme (Dec 2010) TwoSides2aCoin (Dec 2018) PrivateCoin Jan 2019

Comments

  • joeykoinsjoeykoins Posts: 14,787 ✭✭✭✭✭

    Good Luck buddy. These darn Ikes can be very confusing, as to the variety aspect. ;)

    "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.
  • IkesTIkesT Posts: 2,453 ✭✭✭✭✭

    ANACS will attribute peg legs on the 1971-S silver proofs, but it's not worth it to do so - they are common and will not sell for a premium. The serif R (AKA regular R) may be a bit more common than the peg leg R, but the bottom line is both are quite common among proofs.

    The 1971-S silver business strike peg leg is much more uncommon and will sell for a premium. Better grade coins are worth certifying (and all of the TPG's will do so on this one).

  • Raybob15239Raybob15239 Posts: 1,359 ✭✭✭

    Thank you, @IkesT. I am good with VAMs, but out of my depth with Ikes and trying to learn.

    Successful B/S/T transactions: As Seller: PascoWA (June 2008); MsMorrisine (April 2009); ECHOES (July 2009) As Buyer: bfjohnson (July 2008); robkool (Dec 2010); itsnotjustme (Dec 2010) TwoSides2aCoin (Dec 2018) PrivateCoin Jan 2019
  • wondercoinwondercoin Posts: 16,649 ✭✭✭✭✭

    “ANACS will attribute peg legs on the 1971-S silver proofs, but it's not worth it to do so - they are common and will not sell for a premium. The serif R (AKA regular R) may be a bit more common than the peg leg R, but the bottom line is both are quite common among proofs.”

    I will personally pay a very large premium for a peg leg in a PCGS-PR70DCAM holder. Anyone that wants to make “easy money” on a “quite common” coin, please write me.

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • IkesTIkesT Posts: 2,453 ✭✭✭✭✭
    edited May 30, 2021 8:15AM

    @wondercoin

    Although I made a good faith effort to answer the question accurately, I overlooked that PR70DCAM is a condition rarity for peg leg proofs. I appreciate the correction.

  • bsshog40bsshog40 Posts: 3,769 ✭✭✭✭✭

    I have a 40% silver proof peg leg variety sitting in a dansco.

  • SPalladinoSPalladino Posts: 831 ✭✭✭✭✭
    edited May 31, 2021 8:27AM

    1971S silver proofs common in two ODVs - peg leg R (ODV - 005) and serif R (ODV-004). It is likely that the peg leg ODV was produced first, and that the serif R ODV actually followed. Regardless, there are many dies for each of these ODVs (likely more than 800 dies of each ODV).

    1971S silver business strikes is where one finds the FS-401. Two different obverse dies account for the majority of 1971S silver business strike peg legs that end up being attributed as FS-401. There are actually two additional 1971S SB dies that produced peg legs (the stove pipe, and a die abrasion peg leg). One can occasionally find coins from one of these other peg leg - generating dies that end up in a FS-401 holder.

    To sum up:
    1971S silver proof = many peg leg dies (likely > 800 dies), mintage near 2 million, are not the FS-401, and carry no premium (except in the case of conditional rarity, as demonstrated above).
    1971S silver business strike = only two peg leg dies that produced coins that are attributed as FS-401. Mintage likely < 200,000. (there are two other peg leg dies, but not commonly passing attribution as at FS-401)

    Steve Palladino
    - Ike Group member
    - DIVa (Designated Ike Varieties) Project co-lead and attributor
  • bsshog40bsshog40 Posts: 3,769 ✭✭✭✭✭

    So I have a 1971s 40% BU and the 40% proof that has the peg leg "R". Are both of these the variety or just the proof?

  • SPalladinoSPalladino Posts: 831 ✭✭✭✭✭

    @bsshog40 said:
    So I have a 1971s 40% BU and the 40% proof that has the peg leg "R". Are both of these the variety or just the proof?

    Only the 1971s 40% BU can/will be attributed as a FS-401.
    There are perhaps > 800 dies that produced about 2 million 1971S 40% proof peg legs.
    In contrast, there are 2 dies that produced maybe 200,000 (likely less) 1971@ 40% BU peg legs that typically would be attributed as FS-401.

    Steve Palladino
    - Ike Group member
    - DIVa (Designated Ike Varieties) Project co-lead and attributor
  • bsshog40bsshog40 Posts: 3,769 ✭✭✭✭✭

    @SPalladino said:

    @bsshog40 said:
    So I have a 1971s 40% BU and the 40% proof that has the peg leg "R". Are both of these the variety or just the proof?

    Only the 1971s 40% BU can/will be attributed as a FS-401.
    There are perhaps > 800 dies that produced about 2 million 1971S 40% proof peg legs.
    In contrast, there are 2 dies that produced maybe 200,000 (likely less) 1971@ 40% BU peg legs that typically would be attributed as FS-401.

    I know my proof is the peg leg, but here's a pic of my 71S 40% BU coin. I presume it's close enough for a peg leg variety also?

  • ShaunBC5ShaunBC5 Posts: 1,617 ✭✭✭✭✭

    I thought I discovered a peg leg in my existing collection just last week! Turns out my eyes were just weak. I might go looking for one now, though.

  • IkesTIkesT Posts: 2,453 ✭✭✭✭✭

    @bsshog40 said:

    @SPalladino said:

    @bsshog40 said:
    So I have a 1971s 40% BU and the 40% proof that has the peg leg "R". Are both of these the variety or just the proof?

    Only the 1971s 40% BU can/will be attributed as a FS-401.
    There are perhaps > 800 dies that produced about 2 million 1971S 40% proof peg legs.
    In contrast, there are 2 dies that produced maybe 200,000 (likely less) 1971@ 40% BU peg legs that typically would be attributed as FS-401.

    I know my proof is the peg leg, but here's a pic of my 71S 40% BU coin. I presume it's close enough for a peg leg variety also?

    On your coin, not enough of the left or right leg is polished away for it to be the FS-401. Also, on a true FS-401, parts of the the T and Y in LIBERTY are also polished away.

  • IkesTIkesT Posts: 2,453 ✭✭✭✭✭
    edited May 31, 2021 10:30AM

    @bsshog40 said:
    Yea, here is the T and Y.

    Once again, although your coin does not have full serifs on the R, it is not the FS-401. On the FS-401, even more of the R is missing and the upper left extremities on the T and Y are partially polished away. Your coin does not show this.

    For more info, see:

    https://www.ikegroup.info/DIVA listings/1971 S/1SB-201.pdf
    https://www.pcgs.com/coinfacts/coin/1971-s-1-silver-peg-leg-fs-401/148405

  • IkesTIkesT Posts: 2,453 ✭✭✭✭✭

    @bsshog40

    It would be worth taking a look to see if your coin is the "stovepipe r" variety mentioned earlier by @SPalladino .

    It has an "R" like yours where there is not as much missing as the FS-401. One of the other pick up points for that one is the reverse doubling on "AMERICA" and "DOLLAR".

    See:

    https://www.ikegroup.info/DIVA listings/1971 S/1SB-601.pdf

  • bsshog40bsshog40 Posts: 3,769 ✭✭✭✭✭

    @IkesT said:
    @bsshog40

    It would be worth taking a look to see if your coin is the "stovepipe r" variety mentioned earlier by @SPalladino .

    It has an "R" like yours where there is not as much missing as the FS-401. One of the other pick up points for that one is the reverse doubling on "AMERICA" and "DOLLAR".

    See:

    https://www.ikegroup.info/DIVA listings/1971 S/1SB-601.pdf

    Couldn't see no doubling. Thanks for the link!

  • SPalladinoSPalladino Posts: 831 ✭✭✭✭✭

    @bsshog40 said:

    @IkesT said:
    @bsshog40

    It would be worth taking a look to see if your coin is the "stovepipe r" variety mentioned earlier by @SPalladino .

    It has an "R" like yours where there is not as much missing as the FS-401. One of the other pick up points for that one is the reverse doubling on "AMERICA" and "DOLLAR".

    See:

    https://www.ikegroup.info/DIVA listings/1971 S/1SB-601.pdf

    Couldn't see no doubling. Thanks for the link!

    Not a FS-401 peg leg.
    Looks like it could be a Stovepipe (DIVa 1SB-601) - definitely wobble the reverse under light with a loop - the DDR should be apparent.
    Definitely not one of the two typical FS-401 die varieties, although I do own two "Stovepipes" that were mistakenly attributed and holdered as FS-401 (I cherrypicked them from sellers).
    The Stovepipe is more scarce than either of the two FS-401 die varieties. If the two FS-401 die varieties were minted to 100,000 and 80,000 specimens, respectively, the Stovepipe was likely minted to <50,000 specimens (based on my knowledge of 1971 die production figure and relative attribution figure of each of these die varieties)

    Steve Palladino
    - Ike Group member
    - DIVa (Designated Ike Varieties) Project co-lead and attributor
  • bsshog40bsshog40 Posts: 3,769 ✭✭✭✭✭

    @SPalladino said:

    @bsshog40 said:

    @IkesT said:
    @bsshog40

    It would be worth taking a look to see if your coin is the "stovepipe r" variety mentioned earlier by @SPalladino .

    It has an "R" like yours where there is not as much missing as the FS-401. One of the other pick up points for that one is the reverse doubling on "AMERICA" and "DOLLAR".

    See:

    https://www.ikegroup.info/DIVA listings/1971 S/1SB-601.pdf

    Couldn't see no doubling. Thanks for the link!

    Not a FS-401 peg leg.
    Looks like it could be a Stovepipe (DIVa 1SB-601) - definitely wobble the reverse under light with a loop - the DDR should be apparent.
    Definitely not one of the two typical FS-401 die varieties, although I do own two "Stovepipes" that were mistakenly attributed and holdered as FS-401 (I cherrypicked them from sellers).
    The Stovepipe is more scarce than either of the two FS-401 die varieties. If the two FS-401 die varieties were minted to 100,000 and 80,000 specimens, respectively, the Stovepipe was likely minted to <50,000 specimens (based on my knowledge of 1971 die production figure and relative attribution figure of each of these die varieties)

    I didn't see any doubling under a loupe. Maybe I'll put it under my scope tomorrow and see if I see anything different. Thanks!

  • bsshog40bsshog40 Posts: 3,769 ✭✭✭✭✭

    @SPalladino said:

    @bsshog40 said:

    @IkesT said:
    @bsshog40

    It would be worth taking a look to see if your coin is the "stovepipe r" variety mentioned earlier by @SPalladino .

    It has an "R" like yours where there is not as much missing as the FS-401. One of the other pick up points for that one is the reverse doubling on "AMERICA" and "DOLLAR".

    See:

    https://www.ikegroup.info/DIVA listings/1971 S/1SB-601.pdf

    Couldn't see no doubling. Thanks for the link!

    Not a FS-401 peg leg.
    Looks like it could be a Stovepipe (DIVa 1SB-601) - definitely wobble the reverse under light with a loop - the DDR should be apparent.
    Definitely not one of the two typical FS-401 die varieties, although I do own two "Stovepipes" that were mistakenly attributed and holdered as FS-401 (I cherrypicked them from sellers).
    The Stovepipe is more scarce than either of the two FS-401 die varieties. If the two FS-401 die varieties were minted to 100,000 and 80,000 specimens, respectively, the Stovepipe was likely minted to <50,000 specimens (based on my knowledge of 1971 die production figure and relative attribution figure of each of these die varieties)

    So what do you think? I can't tell if my eyes are playing tricks on me. Lol




  • SPalladinoSPalladino Posts: 831 ✭✭✭✭✭

    @bsshog40 said:
    So what do you think? I can't tell if my eyes are playing tricks on me. Lol

    Doesn't look like the reverse of the Stovepipe.

    Steve Palladino
    - Ike Group member
    - DIVa (Designated Ike Varieties) Project co-lead and attributor

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