Jefferson Monster, a gift from eBay!!!!!!!!!
keets
Posts: 25,351 ✭✭✭✭✭
It's still hard to believe that I won the coin at the price I won it at. Just another case of eBay serving up some gems if you search diligently and hold on for the ride!!!!! This was a coin I had hoped to find raw for my set this year but holdered by ANACS for a cross is OK.
To give you a general idea as to the true rarity of the issue, let's take a look at some population numbers. Walter Breen estimates less than 1% of the total 1939 Proof mintage which would place the number at approximately 125 coins. PCGS currently lists 46 in all grades and the only NGC hard-copy I have is from January of 2001 with 19 coins in all grades. If we estimate generously with equal numbers for PCGS/NGC/ANACS, ignore resubmissions and assume equal extant numbers not yet holdered, there are 184 coins. Remember, I said generous!!!
According to Bernard Nagengast in "The Jefferson Nickel Analyst" the variety wasn't discovered and made publicly known until the late 1970's. Bower's and Merena sold a whopping 30 coins at auction in 1985. No speculation is given as to how the 1939 Rev.of 1940 and it's twin the 1940 Rev. of 1938 ocurred, but it seems simple enough to deduce. The 1940 coins all came from a single die that was accidentally used for production early in that year. My hunch is that the 1939 coins are a result of production trials for the newly reworked reverse dies in late 1939.
Al H.
To give you a general idea as to the true rarity of the issue, let's take a look at some population numbers. Walter Breen estimates less than 1% of the total 1939 Proof mintage which would place the number at approximately 125 coins. PCGS currently lists 46 in all grades and the only NGC hard-copy I have is from January of 2001 with 19 coins in all grades. If we estimate generously with equal numbers for PCGS/NGC/ANACS, ignore resubmissions and assume equal extant numbers not yet holdered, there are 184 coins. Remember, I said generous!!!
According to Bernard Nagengast in "The Jefferson Nickel Analyst" the variety wasn't discovered and made publicly known until the late 1970's. Bower's and Merena sold a whopping 30 coins at auction in 1985. No speculation is given as to how the 1939 Rev.of 1940 and it's twin the 1940 Rev. of 1938 ocurred, but it seems simple enough to deduce. The 1940 coins all came from a single die that was accidentally used for production early in that year. My hunch is that the 1939 coins are a result of production trials for the newly reworked reverse dies in late 1939.
Al H.
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Our eBay auctions - TRUE auctions: start at $0.01, no reserve, 30 day unconditional return privilege & free shipping!
Let us know how the coin looks in person.
Cheers,
Bob
I'm reading the same text from Nagengast that you have relayed.
It says that error specialist, Tom Miller found one at a coin show in the late 1970's.
And that this coin is seldom available.
I'm glad this example has found a home with someone who can truly appreciate it for what it is.
Congratulations.
Forbid it, Almighty God!
I know not what course others may take; but as for me, give me liberty, or give me death!
~PATRICK HENRY~
Nice find.
Mark
Even if it only goes PR65 at PCGS, you have done very well!
Let us know how it looks, and how it goes at PCGS.
Ken
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
that was my thinking though i figured at PR64, how could it be a loser? my hunch is that it isn't as dark as it appears and the color should be better seen angled.
the auction was really a peculiar on. it had been listed for 1-2 days with my bid riding at the top and then was cancelled. i assumed it was sold but the seller relisted it the next day. though it was seen by many collectors with the counter tally over 300, it would seem those who knew what it was assumed like me that it would sell for much higher. those who weren't aware of the rarity probably assumed $250 was high for a PR66 1939. i resisted asking the seller for a bigger reverse picture or anything else for fear that he would get curious and cancel again. i also thought momentarily of asking if he'd sell off the sight. glad i didn't do that!!!
ironically, i had been chasing a coin at a different dealers website in the last few weeks, one that he'd had in stock for several months. it was PCGS holdered at PR65 but looked to be a cinch for a one point bump, solid strike and very clean. alas, when we finally were able to talk, it was sold. i'm not one who's given to Divine Intervention and destiny, but hey...................
to the point of rarity and suspected true populations, does anyone have a guess or informed opinion about it??
al h.
Will be interesting to get that one in hand and see how it really looks. I suspect you are right
about it not being as dark as the scan. The large scan is pixelized and you haven't seen the
reverse, but it looks to be an original toned coin and clean. It may well turn out to show good
color, too!
Good luck, and let us know!
Ken
Hoot
the coin pictured below is the one you're thinking of. it was the "wrong 40" and did grade PR67. with this one out of the way i'll turn my attention to a 1941 and the two 1942's which are tough without any die polish. ironically, i had located a 1941 that seems to fit that bill but it'll have to wait for a bit. i find 1941 very hard to find gem coins for with the shoulder being very problematic. i'd much rather have a clean PR65 than a slightly die polished PR66-67, so i may have to "save my pennies" (sic) while i hunt!!!
al h.
I'll trade you a nice PCGS PR65, plus an unattributed PCGS PR66, plus $$$'s for it
i'll just bet you would, but which one????!!!!
al h.
I know what you mean about finding nice examples of the '41 and '42 proofs. I have not picked up a 41 yet (nor have I found a real nice 40 rev of 40). My 42 is nice and I like my 42-P silver pretty well, but it isn't struck perfectly on the obverse and shows just a hint of die wear on the reverse, even though it grades 67. Some day. Proofs of 39-42 are by far my favorite in the series.
Are you going to Portland?
Hoot
al h.
Charlie
Go BIG or GO HOME. ©Bill
current prices would show a PR66 at $750-$1000 and a PR65 at around $500. what i feel caused some to shy away from this coin was the darkness of the picture and lack of a reverse picture. an accurate image and worded description by one of the better photographers like Russ or greattoning would have piled up the bids. while a picture may not truly be worth a thousand words, it's worth higher bids at eBay!!
with this coin i might even have the bragging rights on my mentor!!!!
al h.
The Ludlow Brilliant Collection (1938-64)