Options
Jefferson Nickel 25,000 mintage; Kennedy Half 106,000 mintage
Planchet
Posts: 294
I know that the pricing of the coin market is not always very logical. However, I have stumbled onto a pricing issue that puzzles me. If I told you that there appears to be a Jefferson Nickel with a mintage of 25,000 that sells for about $200 in a TPG slabbed 69 holder and also a Kennedy half with a mintage of slightly over 100,000 that sells for a similar amount in a TPG slabbed 69 holder, would you believe me?
In 1994 as part of the 250th Anniversary Set and in 1997 as part of the Botanic Garden Set, the US Mint issued Jefferson nickels with a special matte finish. (PCGS #'s 4230 and 4140.) In 1998 the US Mint issued a Kennedy Half Dollar (PCGS #6775) with a special matte/satin finish.
The mintage seems hard to pin down for each of these three coins, and I have not found what I would consider any official confirmation of the mintage for each of these three coins, so do your own diligence. I welcome any information you might have that would provide official confirmation of what the exact mintages of each of these three coins were. That said, I have seen mintage figures mentioned from various sources. A coin value book in the library listed the mintage for the 1998-S Kennedy as 106,000. A seemly reliable internet site listed the mintage for the 1994-P Jefferson as 167,703 and for the 1997-P Jefferson 25,000.
I have not done extensive price research for these three issues, however, PCGS in their price guide lists the 1994-P Jefferson in SP-69 at $140 and Teletrade shows four sales of PS-69's with full steps in the last six months, all under $100.
The 1997-P Jefferson is listed in the PCGS price guide at $150 and $200 respectively. I recent Ebay sale for a NGC SP-69 went for $208.03.
The 1998-S Kennedy lists in PCGS's price guide at $330 for a SP-69 and $800 for a SP-70. A recent Ebay sale for a SP-69 in an NGC holder went for $199.95.
The pricing for these issues has me puzzled. Once possibility is that the mintage figures I have found are wrong and the mintage is larger than I believe. However, if the mintage figures are correct, or even close, I wonder about why coins with very low relative mintages, sell for so little. Also, I understand that these issues have not appreciated much in recent years?
Is there a disproportionately low demand for these three issues? One possible explanation I thought of is that the "matte" finish is not exactly Mint State, nor is it Proof. Perhaps, a large portion of the Jefferson and Kennedy collectors who collect either MS or PF, do not consider the matte SP finishes part of either the MS or PF sets? Or, is there another explanation. Help me see the light. If I have the facts wrong or have made an insurrect assumption, or if you think you know the answer please post.
Thanks, Planchet
In 1994 as part of the 250th Anniversary Set and in 1997 as part of the Botanic Garden Set, the US Mint issued Jefferson nickels with a special matte finish. (PCGS #'s 4230 and 4140.) In 1998 the US Mint issued a Kennedy Half Dollar (PCGS #6775) with a special matte/satin finish.
The mintage seems hard to pin down for each of these three coins, and I have not found what I would consider any official confirmation of the mintage for each of these three coins, so do your own diligence. I welcome any information you might have that would provide official confirmation of what the exact mintages of each of these three coins were. That said, I have seen mintage figures mentioned from various sources. A coin value book in the library listed the mintage for the 1998-S Kennedy as 106,000. A seemly reliable internet site listed the mintage for the 1994-P Jefferson as 167,703 and for the 1997-P Jefferson 25,000.
I have not done extensive price research for these three issues, however, PCGS in their price guide lists the 1994-P Jefferson in SP-69 at $140 and Teletrade shows four sales of PS-69's with full steps in the last six months, all under $100.
The 1997-P Jefferson is listed in the PCGS price guide at $150 and $200 respectively. I recent Ebay sale for a NGC SP-69 went for $208.03.
The 1998-S Kennedy lists in PCGS's price guide at $330 for a SP-69 and $800 for a SP-70. A recent Ebay sale for a SP-69 in an NGC holder went for $199.95.
The pricing for these issues has me puzzled. Once possibility is that the mintage figures I have found are wrong and the mintage is larger than I believe. However, if the mintage figures are correct, or even close, I wonder about why coins with very low relative mintages, sell for so little. Also, I understand that these issues have not appreciated much in recent years?
Is there a disproportionately low demand for these three issues? One possible explanation I thought of is that the "matte" finish is not exactly Mint State, nor is it Proof. Perhaps, a large portion of the Jefferson and Kennedy collectors who collect either MS or PF, do not consider the matte SP finishes part of either the MS or PF sets? Or, is there another explanation. Help me see the light. If I have the facts wrong or have made an insurrect assumption, or if you think you know the answer please post.
Thanks, Planchet
0
Comments
The 1997-P matte Jefferson is not too out of line, pricewise, with the early proof Jeffersons (1938-1942), which have mintages of 12K to 29K and often sell for under $125 each slabbed. This includes the 1942-P Type 2 silver issue, which has a mintage of less than 28K and is a one-year type coin in proof.
My Adolph A. Weinman signature
http://ProofCollection.Net
perhaps a written request to the mint, followed up with an e-mail, may get you a response with the figures.
<< <i>A seemly reliable internet site listed the mintage for the 1994-P Jefferson as 167,703 and for the 1997-P Jefferson 25,000. >>
BTW, the 2006 Red book lists the above figures, and lists no figure for the Silver Matte Finish Kennedy
I have enjoyed Jeffs for years, done a Dansco, all the proofs, and then had it evaluated by several decent Jeff guys in order to build and rebuild the best set I could. Guess what? No one cares. Great history, several metals, large mintmarks, toning, easily collected, and no one cares a bit. If I tried to sell my set, I'd get (maybe) 20% back of Graysheet bid. Bottom line . . . no demand.
Kennedys . . . I was fortunate and got to spend a week picking through a full roll set to cherry the best coin of each date and mint. Bought each right and then got the 1998 Kennedy SP as a gift. Still . . . no one could care less. They are fun to look at, but there is no demand.
That is your answer. If there are only 5 coins in a mintage, but just 3 guys want them, they are going to sell for about $8.00.
Drunner
<< <i>These coins may have low mintages but they also have a near 100% survivability rate in ultra high grade condition. Couple that with low demand and you have your answer. >>
I believe this answer to be exactly correct!
As for the NGC/PCGS reference, Moderns in NGC slabs bring significantly smaller premium's over their PCGS counterparts simply because NGC has the appearance of being a bit "loose" in the grading arena for Modern Issues.
The name is LEE!
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Hoard the keys.
It really helped keep the mintage numbers down when at the same time around January or Febuary Warren Buffet bought almost 10% of the worlds silver. This caused silver to rise to $7 an ounce, which took alot of attention away from the matte half set (JFK/RFK set). Otherwise the mintage could have been much higher.
One of the problems with this coin is Dansco won't put a hole for it the their Kennedy half albums.
and come well protected in mint packaging
the 1993 Jefferson coin and currency set has a 2 dollar bill and 1993 Jefferson as well as the 1994-P matte nickel
and these can be picked up for $45 frequently
start yourself a hoard of these and corner the raw market
the 1997 botanical is not seen as often on eBay and go in the $160-$180 range
<< <i> The 1997-P matte Jefferson is not too out of line, price wise, with the early proof Jeffersons (1938-1942), which have mintages of 12K to 29K and often sell for under $125 each slabbed. This includes the 1942-P Type 2 silver issue, which has a mintage of less than 28K and is a one-year type coin in proof. >>
Overdate and others, Thanks for the education. I do not collect Jefferson Nickels, or Kennedy Halves, however after reading Overdate's post about the 1942-P Type 2 Proof Silver Nickel and the rest of your posts, I guess the only explanation for the low prices on the 1994-P Matte Jefferson, 1997-P Matte Jefferson and 1998-S Matte/Satin Kennedy is the lack of demand, and high rate of preservation. I guess what I noticed is what an economist might call the result of "an efficient marketplace". -Planchet