Two 1971-S Ike RPMs in FS-501 attributed holders...and the true FS-501 is the less prevalent.

SPalladino

Eisenhower dollar collectors:

The true FS-501 RPM, which is listed in CherryPickers' Guide, and cross referenced to Kalantzis IDDD-RPM-3, Wexler WRPM-003, and Wiles RPM-001, is not alone in being attributed as FS-501 by TPGs, and more precisely, PCGS.

The "alternate FS-501" that appears in FS-501 attributed holders is cross referenced to IDDD-RPM-4, WRPM-004, RPM-002, The Ike Group DIVa 1SB-501.

Of these two, the "alternate FS-501" appears to be widely more prevalent than the true FS-501 in PCGS holders attributed as FS-501. Further, the proportion of each of these RPMs in FS-501 holders may be reflective of actual mintage and resultant availability.

Check out my new study and article,
1971-S Silver Business Strike Repunched Mint Mark Eisenhower Dollars:
Will the true FS-501 please stand up?
A Study of PCGS-attributed FS-501 Ikes.

Crypto

Cool study, good photos

cmerlo1

Interesting. I always thought the 2 gouges to the right of 'TRUST' were the main way to confirm FS-501. I have 2 of these I've been meaning to have slabbed. Based on your analysis, they're the 'alternate' FS-501.

wondercoin

Good work Steve!

Wondercoin

tttwo

Steve, as always, good work.

I have always viewed what you refer to as the "alternate FS-501" as being the true FS-501 because, if I recall correctly, it was the first RPM discovered in the Ike series and is the subject of a chapter in the Ike Group's book, "The Collectible Ike Varieties: Facts, Photos and Theories." The variety you refer to as "true" is not identified in the book or on the Ike Group's website.

I assume your designation of the "true" variety relates to its listing in the CPG, as it references CONECA RPM-001. This listing in CPG then relegates the variety identified in the Ike Group book and website to the position of "alternate", which in my mind is unfortunate, especially in light of the fact that it is the variety most easily recognized and has been the variety predominately attributed as FS-501 by PCGS. I even wonder if the CPG authors didn't actually mistakenly reference the wrong variety!

Crypto

I learned long ago that save for the majors/redbook. One should apply as much scrutiny to variety attribution as the do the grade

SPalladino

@cmerlo1 said:
Interesting. I always thought the 2 gouges to the right of 'TRUST' were the main way to confirm FS-501. I have 2 of these I've been meaning to have slabbed. Based on your analysis, they're the 'alternate' FS-501.

You are correct.

SPalladino

@tttwo said:
Steve, as always, good work.

I have always viewed what you refer to as the "alternate FS-501" as being the true FS-501 because, if I recall correctly, it was the first RPM discovered in the Ike series and is the subject of a chapter in the Ike Group's book, "The Collectible Ike Varieties: Facts, Photos and Theories." The variety you refer to as "true" is not identified in the book or on the Ike Group's website.

I assume your designation of the "true" variety relates to its listing in the CPG, as it references CONECA RPM-001. This listing in CPG then relegates the variety identified in the Ike Group book and website to the position of "alternate", which in my mind is unfortunate, especially in light of the fact that it is the variety most easily recognized and has been the variety predominately attributed as FS-501 by PCGS. I even wonder if the CPG authors didn't actually mistakenly reference the wrong variety!

I have a similar point of reference to you. I first learned of the "FS-501" from "The Collectible Ike Varieties: Facts, Photos and Theories." I thought that the RPM that had the two parallel die gouges above the first 1 in the date was the FS-501...the only FS-501.

However, on further investigation, a) the sole image of the MM in the CPG is clearly not the one the matches The Ike Groups' RPM. Instead, it is the RPM-001 of Wiles / CONECA. b) The CPG actually cross references Wiles / CONECA RPM-001 (at least in the 2012 Fifth Edition, vol. 2). c) In the Wiles, Wexler, and Kalantzis source materials, they each cross reference to CPG FS-501 (Wiles RPM-001, Wexler WRPM-003, and Kalantzis IDDD-RPM-3).

It has become clear that The Ike Group RPM, DIVa 1SB-501 is not the same as the CPG FS-501, Wiles RPM-001, Wexler WRPM-003, and Kalantzis IDDD-RPM-3. Instead, it aligns with Wiles RPM-002, Wexler WRPM-004, and Kalantzis IDDD-RPM-4.
Nevertheless, both die varieties are similar enough, that both are typically attributed by PCGS as FS-501. And, while the OCD part of me really would like to see attributions align to a single die variety, I'm ok with current practices. After all, there are 2-3 different die varieties that make it into FS-401 holders, and -4 die varieties that make it into FS-103 and FS-106 holders.

Attributing both does expand the population (currently 298 in the PCGS pop report). If only the CPG FS-501, Wiles RPM-001, Wexler WRPM-003, and Kalantzis IDDD-RPM-3 was attributed, then the pop might be as small as about 30 coins.

From the Ike Groups' perspective, yes it is correct that the DIVa 1SB-501 is a) a single die variety, and b) aligns with Wiles RPM-002, Wexler WRPM-004, and Kalantzis IDDD-RPM-4. I think that we should add the RPM that aligns with Wiles RPM-001, Wexler WRPM-003, and Kalantzis IDDD-RPM-3 as another DIVa listing. The only question would be whether to re-list the 1SB-501 as 1SB-502 to avoid numeric confusion, or to simply add the CPG FS-501, Wiles RPM-001, Wexler WRPM-003, and Kalantzis IDDD-RPM-3 as DIVa 1SB-502.

SPalladino

@Crypto said:
I learned long ago that save for the majors/redbook. One should apply as much scrutiny to variety attribution as the do the grade

@Crypto said:
I learned long ago that save for the majors/redbook. One should apply as much scrutiny to variety attribution as the do the grade

BINGO!

SPalladino

Associated video: https://youtu.be/kwWEZdh3aNM