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Did anyone else witness the 52 Jeff bidding?
bolivarshagnasty
Posts: 7,350 ✭✭✭✭✭
Couldn't believe it. A Jefferson that had it's value recently updated from 650 to 850 brought$1,930.00 on Ebay. The Seller must be ecstatic! The Jeff was a 1952-P PCGS MS65FS. Nice strike but
a middle of the road MS65. Is the Registry driving these prices or is it the scarcity?
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Sent one for 65 FS came back 65. coin has 4 3/4 steps.
Like to sell it for about 2% of the 5 step coin.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
Wondercoin
I think the Jefferson's are an under-appreciated series -- most serious numismatists and dealers don't realize how interesting and challenging the series is -- so it doesn't get respect. But collectors like you have been joining the parade, and prices have been rising.
A year ago, I said on one of these threads that the series was overpriced and due for a correction. And I expected at least one of the top four registry set owners to cash out. Wow, was I ever wrong on both counts.
Now, I see all the serious collectors holding tight, and I think that prices can still rise quite a bit from here. I mean when you get three or four avid collectors going after the same coin, record prices are in the offing.
But, I figure if one or two of the top registry set owners cash out, prices will have to weaken; both because of added supply and diminished demand. But I won't be one of the Jefferson collectors to cash out. Jefferson Nickels is one of the series I'm in for the long haul, both because it's fun and also because I think my son and daughter will make some very interesting dollars out of it when I kick the bucket.
I only wish one of the grading services would start getting these nickels right. PCGS is good on the grades, but very unreliable on the full steps. NGC is very unreliable on the grades but good on the full steps. If someone would get both right, my life would be much simpler.
Warm regards,
Just Having Fun
I have spent the past few days tied up with lot viewing all of the different pre-show and Long Beach show auctions. While I hope to update one of my sets with something later this week, it will, unfortunetly, not be with a 52(p) nickel.
"A year ago, I said on one of these threads that the series was overpriced and due for a correction. And I expected at least one of the top four registry set owners to cash out. Wow, was I ever wrong on both counts."
JHF - Actually, you were correct on one of your counts. One of the top 4 registry set owners did cash out. The coins were gobbled up quickly (I bought about 1/2 of the set to start my own set with).
Wondercoin
I agree with you JHF. Although as of late it seems Pcgs is getting it. I have seen a number of Jeffersons with bridges between the steps in older pcgs holders with the FS designation. I have not seen coins graded recently with bridges between the steps.
The PCGS price guide has been updated? Wow... really? I haven't really looked at it in a long time since it was so out of date.
Have a nice day!
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
As some of you know, I'm a hardnose on grading these Jeffs. The 52 has a decent strike but for a MS65, I would have to disagree . The seller is Ross Herman, but it's been a couple of years since. I believe I've bought a coin or two from him and returned one. It was a 1952 in a PCGS MS65 holder but I've compared the two coins and rest assure, it's not the same coin that was auctioned. I've been watching the auctions by Ross as well, I hope there's something in there for me!
Segoja
If your coin is fully struck, has a clean sharp 4 3/4 steps and it's not all banged up, I'm a buyer!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
But.....but......PCGS won't give me my two points if they don't say it has full steps!
Well boo hoo hoo! It's time to do a reality check with your collections folks! Are they all that great in respect to every coin's strike, condition and steps? I really doubt it! I know that many collections in the registry are not!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>Has it dawned on anybody here that the best quality 1952 to be had in respect to it's strike, grade and steps just may not have 5 complete steps?
But.....but......PCGS won't give me my two points if they don't say it has full steps!
Well boo hoo hoo! It's time to do a reality check with your collections folks! Are they all that great in respect to every coin's strike, condition and steps? I really doubt it! I know that many collections in the registry are not!
Leo >>
I certainly weight strike very highly. Sometimes even surface quality can be more important
to me than the strike designation. I like gemmy clean surfaces, too.
The simple fact is that different collectors have different goals and tastes. As time goes on
the importance of strike is likely to increase simply because so few coins from the last cou-
ple of generations have good strikes, but it's hardly a given and strike quality has improved
the last few years as relief has been lowered.
Those who collect and learn about their coins always seem to do well financially in this hobby.
<< <i>Has it dawned on anybody here that the best quality 1952 to be had in respect to it's strike, grade and steps just may not have 5 complete steps?
But.....but......PCGS won't give me my two points if they don't say it has full steps!
Well boo hoo hoo! It's time to do a reality check with your collections folks! Are they all that great in respect to every coin's strike, condition and steps? I really doubt it! I know that many collections in the registry are not!
Leo >>
With some dates this is most certainly true, the 50'S S mints come to mind (53, 54). It seems with these coins the rest of the die had to wear away before the steps could be punched in, but in a broad general sense it is not true for the majority of Jeffersons.
none of the series collectors has even ventured a comment. does that mean you're all afraid to say anything?? you guys have been seeing the same pictures as me, is my screen the only one that shows the gouges, voids and incomplete steps that the close-up pictures from the seller show?? some of the dates are indeed grade rare, but if the steps and overall surface quality is accurate, they are for the most part worth the slabbing fee.
true Full Step examples of these dates are very tough. we really don't need PCGS to be holdering marginal examples and the Registry Mania to be pushing the more populous undergrades any higher.
wake up, America!!!
I don't remember if I ever bought anything from this seller so I'm not trying to hype this guy at all... and I've noticed he has alot of uncertified coins he is selling with the possible connotation that they are indeed full step examples.
My only previous thought on this coin was that it seemed to be consistant (price wise) with previous sales of lower graded coins. I've given up trying to grade coins from pictures and have pretty much given up buying anything raw anymore off of the bay of E.
I guess the main difference between this coin and others he is selling is... it is in a PCGS slab. (most of the others he sells aren't) I'm thinking the grade guarantee would cover this if it were not full steps... wouldn't it? And that is one of the reasons this coin sold for so much (along with the Registry possibilities).
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
i'm not certain of your meaning with this post, Leo. one thing i do know is how i feel regarding what's in the holder and what's on the insert-----if they don't match they won't be in my collection. assigning a grade to a coin just because the issue is tough and the coin is "close" doesn't help anyone. if the steps aren't complete and absent pre/post strike bridges, the FS designation shouldn't be assigned. if the end result of that is that PCGS never holders a 1952 Full Step Jefferson, then so be it.
hey, i feel better now, go bid on that sucker!!!
I saw the auction in question a few days ago... never even thought I could win it, thus, I didn't bid. I was not trying to give my reasoning for buying the coin... just what the possibilities could have been for the buyer.
Hope this helps...
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
<< <i>see now!!!!!!!!!! i hate to sound like a broken record, but there's no reason in h-e-double hockey sticks that this coin should be designated Full Steps!!!!!!!! none, no arguement possible, no excuse that "you can't grade from a picture, that coin is not Full Steps by PCGS's definition of what constitutes Full Steps!!!! it's insane and bad for the hobby to designate these, it;s insane and bad for the hobby to claim that the coin is safe because it's in a PCGS holder and has a "gaurantee" to recoup the money.
hey, i feel better now, go bid on that sucker!!! >>
You would think that PCGS would pull the stops on coins like this and the mislabeled 39-D and let the sellers know that they can't sell coins like this because they made a mistake. Why let a coin, that does not qualify for what it was certified as, AIR through some venue for everyone to see and do nothing about it.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Leo: While I was lot viewing coins at Heritage the day before the Jefferson nickels came up for sale, I made it a point to call over a "higher up" from Heritage, show him the 1939(p) nickel hiding out in the mechanical error 1939(d) nickel holder and explained to him that this was a "$200" coin reserved for the "$1,500" price of a 39(d) nickel and that someone could mistakely bid $1,500 for this $200 mistake coin. I told him the coin should be immedately pulled from the auction and he told me he would take care of it. IF THIS DID NOT RESULT IN THE COIN BEING PULLED FROM THE AUCTION (AND I HOPE IT DID), I FAIL TO SEE WHAT PCGS COULD DO ABOUT IT.
Wondercoin
at the very least, PCGS has to realize that there are many, many mistakes like this in the market----the other services do the same thing. their Quality Control needs to be improved.
as for the other aspect of this thread, repetitive mis-designation, they need to work on that to or dispel with the notion that the verifier actually does anything.
al h.
Must be a computer glich!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection