A Jeff Registry backlash buy... just because

DennisH

I don't know how the rest of you Jefferson nickel collectors reacted to the $17,250 paid for a 1950-D MS67FS PCGS Jeff in Heritage's Long Beach Signature Sale almost two weeks ago, but it prompted me to buy I coin I was neither looking for, needed, nor especially wanted -- a 1950-D PCGS Jeff in MS66FS.

For $100.

Why? I guess for no other reason than to have a tangible reminder of the -- IMO -- value absurdity that "pop top" can sometimes heap upon common date coins in uncommon grades. I don't embrace the concept of strike superlative designations to begin with, and my Jeff Registry set contains no FS coins whatsoever, but I expect this new acquisition will nonetheless be a favorite of mine for years to come.

STONE

Any pics of the next best coin?

Do you think it has a chance to be bumped up?

DennisH

There's zero chance of it bumping up. Zero. And that's just fine, because that wasn't the point of buying it. It has great lustre and a faint touch of rich color (very pretty), but enought light ticks to forever be a 66. It has 5.8 steps; just the far right end of the bottom step is fused.

I'm a dyed-in-the-wool Morgan collector, so I understand how one grade point can make a huge difference in price. But 172 times more? I just want to gag over that.

Here's a quick and dirty shot of my 66FS:

clackamas

That was a steal price. I had 5 OBW rolls of 50-D that were nice, FS galore, but I was only able to make a single 66FS coin. Its a six step coin but still not as easy as one would think. I will be cold and stiff the day I sell that for $100

DennisH

clackamas:

Wow, 200 cherry coins and only one went 66FS? That really does say a lot. Maybe I didn't step in doodie as I climbed on the soapbox after all.

NIckelCollector

Dennis

I also was surprised by the extremely strong prices in the recent Heritage auction. I won two Jefferson lots for a total of $360 # 8862 & 8863. Thought these two lots went cheap.

Considering the prices on recent Jeffersons it is probably time to send in some high end Jeffersons and see if any upgrade.

Obviously this will cost some $ and I still end up with the same coin, but even if only 1 coin upgrades it will clearly pay for the grading fees. Call this insurance in case I sell one day.

cladking

I don't know a great deal about the older Jeffersons but do know nice '50-D's are
none too tough. 66 and 67's are tough in all dates so it's hardly surprising these
aren't abundant.

I'm not necessarily a fan of the huge multiples that are often seen at the high end
of the grading scale for many of the common later date coins but they don't neces-
sarily disturb me either. There are cases where the extra cost is largely caused by
the fact it's a pop top and more people want crowing rights than there are coins a-
vailable but there are real market forces that cause these spreads as well. What
ever the cause of the demand for the higher grade coin, the simple fact is that in
most cases where there's a huge spread in price there is also a huge spread in av-
ailability. If there are a hundred collectors seeking the best they can afford and six
coins are top pops and 250 are one grade off then there is going to be a huge mult-
iple. A hundred people are going to push up the price of the six coins each time they
come available but the lower grade prices will not get the demand to keep the price
up.

If a Morgan goes for $17,000 in top grade and $8,000 just a little lower then you
have to pay $8,000 just to get a coin that's not quite as nice. With many of the
Jeffersons you can save an awful lot of money by buying coins that are slightly lower
grade. Better yet if you are a very picky buyer and have some good contacts to watch
for you your cut rate collection can be very nearly as nice as the much more expensive
ser. Indeed in some ways and in some cases you can even exceed it.

There are always decisions, it's just that with most decisions there isn't so great a
difference between one and another.

DIMEMAN

Let me think......17K+ for a coin that probably doesn't look any better......I'd pass too!!!!!

That is just plain stupid no matter how you look at it!!!!!!!!!!!!!!!!!!!!

I've always believed that the BEST grade to buy is the one right BEFORE the big jump. No matter what.

JMHO


Jon

bolivarshagnasty

Dimeman, I'd like to present another angle on this. Would you spend 350k on a Ferrari? How about an Italian vacation for
35k? Would you buy an 1100 square foot flat in New York City for 2.5 million? I could certainly not do any of these. I do, however,
recognize that there are others out there who have done very well for themselves. If the puchaser of the 50-d wanted this coin for
his collection, who are we to label him stupid? Obviously, there were several persons bidding on this coin. At the root of this, maybe
there's a touch of jealousy over some garnering all of the nice coins, while relegating the rest of us to purchase what our budgets
will allow. Hey, thats life. Let's enjoy both the coins we own and those we wish we could afford. B. Shagnasty

leothelyon

A lot of you folks need glasses! Here's the link again! HeritageAuction Anyone care to take each coin at a time and discuss their qualities? Go take a good look at the following coins; the 1941, 1944-P looks the best out of the bunch but there are still a number of nicks in hair. Look at the nice strikes on the 1946-D, 1948-D, 1949-D. the 1953-D and the 1964-D. Please tell me those coins are superb examples for their dates. Someone, one submitter possibly, where did all those coins come from anyway. Serious collectors search a lifetime for superb examples but there they are all wrapped up for the registry. You're are all like the rest, buying points!

Leo

leothelyon

Well, I see that I can't even stir the ghosts with my last post. Here's another that might.
The following 5 coins in that Heritage auction all came from one submission.
1938 MS67 08894085
1943-S MS67 08894086
1949-D MS67 08894088
1950-D MS67 08894089
1952-S MS65 08894090

Did these coins come from a collector? No!
Has anyone ever heard of anyone receiving 3 pop ones from one submission? Not!
Whoever submitted those coins and received those results is one lucky person.

Leo

DennisH

Leo:

Your previous post (and link) spoke volumes. Absolutely stunning prices that make no sense to me whatsoever.

I'm going to stick to non-FS Jeffs for sure.

seanq

<< <i>Well, I see that I can't even stir the ghosts with my last post. Here's another that might.
The following 5 coins in that Heritage auction all came from one submission.
1938 MS67 08894085
1943-S MS67 08894086
1949-D MS67 08894088
1950-D MS67 08894089
1952-S MS65 08894090

Did these coins come from a collector? No!
Has anyone ever heard of anyone receiving 3 pop ones from one submission? Not!
Whoever submitted those coins and received those results is one lucky person.

Leo >>




If the submitter sent in a bunch of previously graded coins for reholdering, wouldn't they get new sequential numbers like that? They could also have been part of a crossover submission, in which case you have no way of knowing how many other coins didn't cross. I'm not sure what you're trying to imply, but I do agree with your doubt that those were submitted raw by a collector.


Sean Reynolds

pontiacinf

<< <i>There's zero chance of it bumping up. Zero. And that's just fine, because that wasn't the point of buying it. It has great lustre and a faint touch of rich color (very pretty), but enought light ticks to forever be a 66. It has 5.8 steps; just the far right end of the bottom step is fused.

I'm a dyed-in-the-wool Morgan collector, so I understand how one grade point can make a huge difference in price. But 172 times more? I just want to gag over that.

Here's a quick and dirty shot of my 66FS:


>>



spoken like a true jefferson bud

I think you will be alot more happier with yours.