Confessions of a teenage nickel dealer (circa 1974-1977)

HeritageGreg

Earlier today I was forwarded the thread about the 1960-D full step Jefferson Nickel. I was encouraged to make a posting by those who have known me 30 or so years and remember when I was searching (unsuccessfully) high and low for a full step 1960-D. I think more out of interest at ancient history and that I was now, and remain today, passionate about numismatics, I got a bit of prodding to repost this as a new thread, so here it is...
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From about 1974 through 1977 I believe I was the most active dealer in Full Step Jeferson Nickels. I had Coin World ads, a monthly price list, and six figures a year in full step Jefferson Nickel sales. David Hall, who was already a big important dealer, was very nice to this teenager and to this day he still occasionally calls me "Full Stepper".

Along the way I learned a thing or two about the rarity of full step nickels. Back then I was buying 5 step 1954-S nickels for $250 and selling them for $350. I also sold "complete" sets from 1938-1958 for $3750. The reason I stopped the sets at 1958 was because 1960-D was impossible. I had never seen a five step 1960-D Jefferson, and I've seen about as many full steppers as anyone. I sold out my inventory when I turned 16 in 1977 (for a low five figure number) - I used the $6,000 down payment I received to buy a new Mustang for cash. I figure that inventory would be worth about $1 million today.

I had a great time with full step nickels and it's great fun to see I was maybe just a little ahead of my time- at least as full step nickels go.

See you at the registry luncheon at FUN.

===
Gregory J. Rohan
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onlyroosies

I sold off my Lincoln set back in 75 to buy a plymoth Duster. Wish I had them today...

leothelyon

Well, here's the result of what Bern Nagengast came up with through his years of searching. I also have his full page address on this coin. I don't believe I'll ever top this coin in respect to it's strike grade and steps!


And here's another example from the Bob Jerich collection!


Leo

cladking

I caught this post on the other thread. I knew I recognized the name but never did
any business with you for some reason so didn't have it in my files. I think I remember
some Coin World classified ads and may have even seen one of your lists or two. I was
collecting Jeffersons in those days but have always tried to find them raw when possi-
ble so didn't to a lot of trading for them.

LeoTheLion: That second nickel is incredible and looks vaguely like a branch mint proof.
I suspect that some of these are made almost every year but the survival rate for some
approaches zero. More than 1% of the '60-D nickels were saved initially in bags and rolls
but some of the later dates have savings rates well under .01%. The odds of one of a
small handful made surviving become very small. I found a nice PL XF '87-D 25c the oth-
er day. This one is available unc in mint sets but there are other dates that are not.

This is a fascinating thread.

DRG

Great story Greg!!!

I was 15 in 1977, but was too busy surfing to look at coins in those days.

Cool to hear a Modern WANNABE can make it!!

I have been collecting Full Talon SBA's for several years. I don't know, or really care, if FT SBA$'s will ever catch on, but it is very interesting to hear about the history of the Full Step Jefferson's. Probably for the same reasons as the Jefferson's, many SBA$'s were minted with blurred or smooth Talons on the reverse eagle. A well struck coin will have 6 well defined Talons. Finding FT SBA's is not difficult but finding high grade FT SBA's can be.

I doubt Laura (Legend) knows or cares but the 1979 S MS67 SBA$ that she sold on eBay last week appeared to have nice full talons (and that is why it sold for more than average $$$$). I know because I was the under bidder, and the winner is a FT collector.

David R. Golan, M.D.

scher

I quit high school around that time because i had a job offer to be n "auto mechanic" on a fulltime basis not just after school..i jumped at the chance and could only afford a complete set of war nickels(still have em) for quite a long while..
Bruce Scher

Russ

<< <i>David Hall, who was already a big important dealer, was very nice to this teenager >>



Did he wear Hawaiin shirts back then?

Russ, NCNE

HeritageGreg

i]Did he wear Hawaiin shirts back then?

He sure did. If you run across a catalog for The Great Eastern Collection (Joel Rettew, 1976) you will see a picture of David in a Hawaiian shirt examining coins with an equally colorfully attired Walter Breen. What a collection that was. I was 14 and it was the first big fancy catalog I had ever been sent. I must have spent 100 hours reading it over and over and over, which is probablty why I remember what David was wearing 30 years later.

Greg

ModernDollarNut

<< <i>Great story Greg!!!

I was 15 in 1977, but was too busy surfing to look at coins in those days.

Cool to hear a Modern WANNABE can make it!!

I have been collecting Full Talon SBA's for several years. I don't know, or really care, if FT SBA$'s will ever catch on, but it is very interesting to hear about the history of the Full Step Jefferson's. Probably for the same reasons as the Jefferson's, many SBA$'s were minted with blurred or smooth Talons on the reverse eagle. A well struck coin will have 6 well defined Talons. Finding FT SBA's is not difficult but finding high grade FT SBA's can be.

I doubt Laura (Legend) knows or cares but the 1979 S MS67 SBA$ that she sold on eBay last week appeared to have nice full talons (and that is why it sold for more than average $$$$). I know because I was the under bidder, and the winner is a FT collector.

David R. Golan, M.D. >>




'tis true, I was the uber bidder on Laura's SBA (hope she has recovered from the trauma of putting up modern junk, heh, heh), Both David and I are interested in Full Talon Suzzies. David, of course, is the SBA guru and BIG DAWG-maker of high-grade suzzies and he introduced me to the simple fact that a minority have full talons, right through the higher grades. It seems not to be a strike issue per se.

So, Greg, this newbie wannabe is grateful for your story! I have started pushing the FT concept with the major TPGs, one of which told me that without the "Full Step Club" pushing for FS recognition, FS might never have been attributed.

Human visual perception has built in limiters to shield us from too much input. One's "set" (conscious or unconscious preset expectations and past experiences) determines what one "sees" and the rest is largely filtered out. If you want to see FT SBAs, you will have to purposefully look at them. Do this a few times and it will be as natural as automatically looking for FS with a Jeff.

Anybody else here think that FT Suzzies will gain in popularity (and in price) as collectors start actually looking at the talons holding onto that symbolic olive branch????

I still can tear up when I think of the BU complete roll set of wartime nickels that were briefly in my posesion in 1960, the silvery dust dancing in the light whenever one end of a roll was opened for a peek, that I sold as a college student for twice what I paid.... some years later, it dawned on me that these were probably FS as they were just so perfectly detailed and mark-free. Rob

STEWARTBLAYNUMIS

Full Talon Suzies,Full Step Nickels,Fully Rounded Split Band Mercury dimes,Full Torch Roosies,Full Bell Line Frankies ..........................
Full Head as well as full nipple Standing Liberty Quarters....

What about Mad Marty's Full Erection Cook Island Coins ?

I only collect Lincoln cents,Indian cents,Flying Eagle cents,Half cents and Barber dimes.I guess I am not full of anything.

Stewart

tradedollarnut

I guess I am not full of anything.

Don't worry, Stewart - I'm sure you are...

clackamas

<< <i>I guess I am not full of anything.
>>



full red?

wondercoin

Greg: Great story!

I also got very active with full steppers, but, for me it was the early 1980's. There were still "easy pickins" at Long Beach from time to time in the early 1980's as dealers who got in complete BU sets of Jeffs in Whiman albums and the like had no problem selling them off around ask or thereabouts. Perhaps my best "score" though was when Heritage was "cleaning out" it wholesale dept. room of raw coins in the 1990's. Heritage sold me the entire room full of fresh Jeff nickel rolls (many with the various names of the banks on the outside of the rolls) that had been sitting around Heritage for years around sheet plus shipping. I still have not opened close to half the rolls to this day. Many bank-wrapped super neat rolls, like handfuls of 1953(s) and 1954(s) fresh rolls and a dozen or so 1949(p). The rolls are simply too cool to crack open! I for one am glad you
stopped dealing them in the 70's!

Wondercoin

GOLDGUY

"The President of Heritage . . . collecting FS nickels . . . remembering what Breen and Hall wore 30 years ago . . . trading his inventory for a mustang . . ."

Sorry Greg, but I find all this so disturbing, on so many levels. I think I'll seek counseling before seeing you @ FUN.

cladking

Ya' win some, ya' lose some.

Justhavingfun

"I used the $6,000 down payment I received to buy a new Mustang for cash. I figure that inventory would be worth about $1 million today."

That's a lot money Greg, but I'll bet you a full-stepper nickel that you'd do all over again. Those Mustangs were red hot then, and I'll bet you had a ton of fun with all those young, pretty things who surely flocked to you because of it. All those fond memories surely are worth a million dollars to you, now, eh?

Sighhhhhhhhhh,



Just Having Fun