GREATEST SINGLE NICKEL AUCTION OF ALL TIME? LET'S SEE!!

wondercoin

This is amazing!! While Frank correctly points out on another thread that Jefferson nickel prices on ebay are dropping, I am being "bid up" by "newcomers" in the greatest single Jefferson nickel auction perhaps ever on ebay to record levels!!?? Folks I have never personally dealt with on expensive Jeffersons (have you Frank?) are bidding seven and eight thousand dollars on a single Jefferson nickel?? Does this suggest the market is actually quite "hot"?? Or?? Can someone link the 1941(d) nickel auction here please!! Thoughts?? Wondercoin.

dbldie55

Does the auction of one coin define the market?

Link to auction

Reserve not met.

Edited to add a link to the lot.

wondercoin

dbldie55: Thanks for the link

On your question of "defining a market", perhaps the answer may be "yes"? Consider that the "market" at issue is the MS68FS market (let's keep the question to a narrow focus). There have only been -4- MS68FS regular issue pieces ever graded and (3) have been sold privately. This is really the first time the MS68FS coin has been seen being auctioned off by itself in a public auction. So, could the results of this auction "define" the health of the M68FS market? Possibly? Why not?

What I find equally interesting is that there are no less than 4 collectors/dealers out there already willing to pay $7000+ for an MS68FS nickel, which tends to trade at just around a couple hundred dollars one grade point lower? Consider something else, if this nickel is worth $10,000 hypothetically, then why isn't a pop 1 silver quarter also worth at least $10,000 in MS68? What about a pop 1 silver dime? How about a pop 1 Lincoln from the 1940s or 1950s (say 1957(p) in PCGS-MS67RD)-are they $10,000 coins as well assuming this nickel is? What about a pop 1 Modern Silver Commem in PCGS-MS70 with a very, very low original mintage? Shouldn't that be worth as much as this nickel? And, if this nickel is worth at least $10,000, shouldn't a monster toned pop 1 Wash Carver Commem be worth multiples? Is this auction a good indicator that super low pop modern coins from 1932-1964, whatever the denomination (may be???) ripe to explode in demand and possibly price as well? Thoughts? Wondercoin

dbldie55

Your question was not whether the MS68FS market is hot, or it least it was not stated as such. I took it to be the market for Jefferson Nickels. I would think the market for low pop high grade coins in many series to be hot even if the series itself isn't. It only takes 2 people wanting a pop 1 coin to create record prices. This is not a reflection of the market though.

billywls

I would think that with knowedgable collectors bidding on this coin, it should go at $14,000 or better.

Monstavet

I think the Jefferson market has really heated up in the last 2-3 months. Full steps have been hot for longer than that, but my main experience of late is with proof Jeffersons, both the early set and the modern set. I am trying to complete both proof Jefferson sets and the prices are going through the roof. Figures....as soon as I start looking for coins, the series gets hot!

I have had a very difficult time finding good pieces for these sets, and when I do, the prices are really climbing a lot. Looking at the prices realized on Teletrade is very interesting especially if you look at the trend in prices. On average, the same proof Jeffy in the same grade is typically selling for 2-3 times what it did one year ago. I think a number of people have recognized that this series has been relatively dormant for a long time, and are starting to collect the series (MS and proof).

For a long time now, the populations of higher grade proof Jeffersons, especially CAM/DCAM coins from the 50s, 60s, and early to mid 70s have been a lot lower than any other series. There is something like only 18 coins from 1950-1959 in DCAM, any grade all years combined! I am anxious to see if that is because these are truly scarcer than other series, or have they been ignored in the past?

Sorry for the rambling post!

FullSteps

These bids by the unknown collectors point to the fact that many nice sets have been or are being assembled without regard to the registry. I believe there are several sets out there that would jump into the top 5 if listed in the registry, but this does not seem to be the motivator for these individuals.

CarlWohlforth

Monsta - I just counted 68 DCAM Jeffs for all of '59 and earlier in the Jan pop guide. That is unchanged from the Oct report. As an owner of %6 of them I'll be watching for new ones

Monstavet

Carl,
You are correct on the DCAM pops for 1959 and earlier...don't know where I got 18 from...shoulda counted again before I spoke. Either way, there are not too many, right? Sorry about the mistake!
Mark

PS: Wish I owned some of em for my set!