45-P Jeff with 6 steps - NGC or PCGS?

clackamas

Just found a 45-P Jeff with 6 steps. How much of a premium would it garner in an NGC holder vs. PCGS? Its a POP1 at NGC. I also found 4 6 steps 42-S's, currently a POP 6 coin at NGC. Its a solid 66FS in either holder.


Thoughts?

darktone

<< <i>How much of a premium would it garner in an NGC holder vs. PCGS? >>

That's not a phrase often heard over here! mike

NIckelCollector

A 1945P according to the "Jefferson Nickel Analyst" is very rare in 6 full steps (9 - 20) reported. I have not found a 6-step coin. My original focus on Jefferson was collecting 6 step coins. I have modified that with the registry. I do not believe this coin will command a large premium in the marketplace due to the focus on PCGS' definition of full step (5) coins.

Personally I think you are better with PCGS and when you sell it to me I'll pay a premium for an MS 66FS and a large premium for a MS67FS.

PM me with details if you are going to sell.

Frank

keets

the only problem with war nickels and trying to place any kind of estimate on grade rarity and price premium is that so many were hoarded. coupled with the relative ease of striking the softer alloy, the pops are significantly higher across the board. evidence of that can be found by perusing any shop, show, internet dealer site, teletrade, heritage or eBay. the coins abound!!!! there are so many available that i don't even track sales history in my files or even buy them slabbed for my set. i have one coin, a 1944-D PCGS MS66FS in a green holder.

of course i do look for raw coins with nice tone and doubling. last week i bought a 1945-D/D, but not the really wide spaced one.

with respect to NGC or PCGS, i try to stick with PCGS if only because my experience tells me that they grade the series more accurately. NGC tends to grade 1-3 points high. for steps, PCGS tells me a coin has less than 5 full steps or 5 full steps plus. NGC only tells me if it has 6 full steps. since NGC is likely to grade the coin non-FS and numerically high, i think it would be better to have PCGS holder it. why bother getting all wrapped up in the pop numbers game?? the coin will be what it is in either holder so it's probably best to have it properly graded/attributed for steps.

this assumes, of course, that the coin is for your collection. if it's for resale the picture changes!! get it in the highest holder you can and let everyone scramble at the auction in the numbers game. for that matter, just offer it raw to a collector like Frank who knows the series and how to grade/price it.

another alternative would be ANACS or SEGS. i feel both grade the series accurately and like the fact that ANACS will note a step count as will SEGS with the addition of any nicks or bridges.

al h.

clackamas

Keets - Yes the War Nicks are more common at least from a graded coin standpoint but also remember we were at war and the dies used were used for longer periods than would normally be the case. Since. as you point out that the silver alloy is "softer" it also makes for coins that get more marked up than a normal nickel would. This causes many of the steps to get bridged with marks and therefor would not qualify for FS designation from any service. Some of the dates in the war years are incredidbly hard to find, and some (43-D) are so easy.

PCGS has 4827 FS war nicks graded and 8095 without FS's graded, NGC has 1469 FS's graded and an astonishing 25,444 non FS's graded. No one can be sure if any of the PCGS coins have 6 steps but NGC currently has only 1 45-P graded with Full Steps (6 Steps), and PCGS only has 130 FS's for the date. Basically this coin is very rare, and, IMO deserves to be noted as such. Even if there are huge hoards still to be searched the chances of another 6 step coin popping up is still slim. Sure there are probably a few, but only a few, this is why i thought that there may be a premium in an NGC holder.

keets

No one can be sure if any of the PCGS coins have 6 steps but NGC currently has only 1 45-P graded with Full Steps (6 Steps), and PCGS only has 130 FS's for the date.

this is some of what i tried to express in my post along with the fact that there are so many coins still held in rolls.

something else to consider: the rise in PCGS graded 1945-P's in 66FS.

-----Jan.2001/15 coins and 0 in 67FS.
-----Jan.2002/29 coins and 1 in 67FS.
-----currently/54 coins and 3 in 67FS.

while some of the increase can be explained away as crackouts and crossovers the trend is clear. prices are rising and coins are being certified. i find it ironic that a date which is purported as tough should see a rise in highest grades at precisely the same time PCGS is perceived as being very strict in the grading room. looking a bit more at the pop reports shows a much higher percentage of non-FS coins and 65FS coins in the last year.

i hold to my contention that there are many coins still held in rolls. they're coming from someone/somewhere. more 66 and 67 full step coins will be made, we just can't tell what the true step count is from the pop report and insert.

al h.