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Ike experts: two silver 1971s proof peg leg fs401?

PppPpp Posts: 443 ✭✭✭✭

I received these two Ike’s in a collection and I believe they are silver (because they weigh 24.6 gms) 1971s proof “peg leg” fs401. Do you agree?

I am having trouble finding value information on a proof version of this variation.

I apologize for the pictures and the finger prints are not mine.

Thank you in advance for your comments.


  • IkesTIkesT Posts: 2,164 ✭✭✭✭✭
    edited November 14, 2022 4:22PM

    The FS-401 designation is only for the regular strike 1971-S peg leg, and is a harder to find variety.

    The proof 1971-S peg legs are not hard to find, and not usually worth a premium unless they are also a doubled die variety or are graded PR70DCAM.

  • OAKSTAROAKSTAR Posts: 4,820 ✭✭✭✭✭
    edited November 14, 2022 4:24PM

    I just looked, I don't see a proof version listed in Cherrypicker's. Maybe it's not listed in there because like @IkesT said, they are not hard to find and might be common.

  • bronze6827bronze6827 Posts: 525 ✭✭✭

    There is no such attribution. Approximately 1.2 million of the 71S proof Ikes (all were 40% silver) were struck from the Mint as Peg Legs - all struck in December 1971. The more significant majority of 71S proof ikes, about 3 million, were struck in winter 1972 and are not Peg Legs but instead have the more common serif-R design.

    The value of a 71S proof Peg Leg is generally no different than the non-Peg Legs.

  • IkesTIkesT Posts: 2,164 ✭✭✭✭✭
    edited November 14, 2022 4:34PM
  • PppPpp Posts: 443 ✭✭✭✭

    Thank you for your comments.
    I know about the mint state version but I found the attached regarding the proof state version on the ngc site. That’s why I am confused because I don’t see any information on the proof version but as stated by Ikest since common that’s probably why.

  • IkesTIkesT Posts: 2,164 ✭✭✭✭✭
    edited November 14, 2022 4:54PM

    @Ppp said:
    Thank you for your comments.
    I know about the mint state version but I found the attached regarding the proof state version on the ngc site. That’s why I am confused because I don’t see any information on the proof version but as stated by Ikest since common that’s probably why.

    NGC and ANACS will both attribute 1971-S peg leg proofs, but NGC is incorrect in calling it the FS-401 variety.

    @OAKSTAR is correct that the FS-401 is listed in the Cherrypicker's Guide only as a regular strike variety.

    The FS-401 stems from an individual working die that was overpolished, creating a harder to find peg leg variety.

    The 1971-S proof peg legs stem from a master die that was overpolished, and that master die gave rise to many peg leg working dies - that is why the proof peg legs are common.

  • PppPpp Posts: 443 ✭✭✭✭

    That’s why I like this forum, always learning something.
    I should have joined many years ago.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Good information and a fine distinction that likely has confused many collectors. Cheers, RickO

  • LanceNewmanOCCLanceNewmanOCC Posts: 19,999 ✭✭✭✭✭

    for varieties, it is good to check ngc and especially anacs (icg if they have one) pop reports.

    <--- look what's behind the mask! - cool link 1/NO ~ 2/NNP ~ 3/NNC ~ 4/CF ~ 5/PG ~ 6/Cert ~ 7/NGC 7a/NGC pop~ 8/NGCF ~ 9/HA archives ~ 10/PM ~ 11/NM ~ 12/ANACS cert ~ 13/ANACS pop - report fakes 1/ACEF ~ report fakes/thefts 1/NCIS - Numi-Classes SS ~ Bass ~ Transcribed Docs NNP - clashed coins - error training - V V mm styles -

  • BuffaloIronTailBuffaloIronTail Posts: 7,331 ✭✭✭✭✭

    We got a 3-Leg Nickel.

    We should have a Peg Leg Ike.


    "I tell them there's no problems.....only solutions" - John Lennon
  • SPalladinoSPalladino Posts: 795 ✭✭✭✭✭

    1) 1971-S Ike proofs were initially peg leg by design. At least 1.2 million (and perhaps up to 2 million) were produced. The serif was added in later production, and the balance of the 4.26+ million 1971-S Ike proof bore the add-on serif R. The average obverse die life of a 1971-S proof die was 2500 coins. This means that there may have been approximately 480 obverse dies with a peg leg R were used in the production of the ~1.2 million peg leg 1971-S proof Ikes. These coins carry no added premium due to the peg leg. (unless the leg of the R is nearly completely gone, then some Ike collector might be willing to pay a small premium)
    2) The peg leg 1971-S Ike proofs are absolutely not attributable as a FS-401. The FS-401 is from single-die 1971-S "business strike" Ikes ("blue pack Ikes"). Seeing unattributed peg leg 1971-S Ike proofs listed on eBay as FS-401 with a significant premium attached is perhaps one of the most aggravating and fraudulent (whether by ignorance or by unscrupulousness) Ike selling activities.
    3) The 1971-S "blue Ike" that gets attributed as a FS-401 actually originates from one of two separate obverse dies, both bearing a similar peg leg. That said, I just lied. I have seen four different single-die peg leg 1971-S business strike Ikes end up attributed as FS-401. There are four 1971-S business strike peg leg dies, but only coins from two of them should appropriately be attributed as FS-401. Examples here
    4) The average die life of a 1971 die strike business strikes (ie, the 1971-S blue pack Ikes) was 100,000. Whether the four dies (two true FS-401 obverse dies + two more additional peg leg obverse dies) producing 1971-S peg leg business strike blue pack Ikes produced as many as 100,000 coins each is unknown (I suspect not). Regardless, coins from these four dies should carry a premium...1.2 million proof peg legs from 480 dies should not

    Steve Palladino
    - Ike Group member
    - DIVa (Designated Ike Varieties) Project co-lead and attributor
  • davewesendavewesen Posts: 5,457 ✭✭✭✭✭

    It does say (NEW) on NGC's website ... I wonder if they got a copy of CherryPickers Guide new additions?

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