An argument for the grading of 6 full step Jefferson nickels

leothelyon

Anyone have any suggestions on how I can mail a coin insured for 10 times the value of any 5 step coin. You see, it's a 6 stepper in a MS67FS holder and I had planned to use Registered mail. But packages do get lost, however slim that might be with Registered mail. But if it were to happen and I don't have a dealer who specializes in selling 6 step Jefferson nickels or a grading service like PCGS who has never graded one to back me up, how do I provide, "proof of value" when filing a claim for the insurance I paid to cover, let's say, a $10,000 coin? I think I'll be SOL because I will not be able to provide evidence that a market exist for 6 step coins. Is there private insurance that would cover such coins. Am I to fib about what was in the package? Can anyone give me other examples of coins with inflated prices that are not stated in any price guide but yet the PO is providing coverage or not? I guess this never has happened to anyone. We only hear stories about how ebay or paypal does not side with the seller causing a monetary loss. What you say?

keyman64

Many different perfect photos and expert witnesses? Good luck!

leothelyon

<< <i>Many different perfect photos and expert witnesses? Good luck! >>



I might be the only guy. Would they believe me? Can I show previous sales? There aren't that many coins available except the more common ones, 40D, 41D, 43D, 58D. I guess I could go through Heritage's archives to see if there were 6 step coins that have sold and if there are price differences. hmmm

Shamika

<< <i>Am I to fib about what was in the package? >>



Leo - I'm pretty sure that lieing about the contents of the package in order to get fair coverage on an item that does not have an established value would be both insurance and mail fraud if it were necessary to accept the payout on the mythical item if it were stolen. I know you do not have fraudulent intentions, but be careful. This can be a slippery slope.

With that said, I really don't have a solution for you. In the end, I think Greg's suggestion is the only viable one.

Shamika

There's got to be a dealer somewhere who can vouch for the value of such an unusual Jefferson.

leothelyon

I'm wondering if PCGS could provide a letter head voucher for the value of these type of nickels? What would they say? 'Well, we would grade them if there were enough collector demand to do so. But what would such a move do to the values of the 5 step coins if 6 step coins were given their due respect?'

leothelyon

Ok, shipand insure.com , anyone have some experience using them? I haven't read their fine print yet.

19Lyds

<< <i>Anyone have any suggestions on how I can mail a coin insured for 10 times the value of any 5 step coin. You see, it's a 6 stepper in a MS67FS holder and I had planned to use Registered mail. But packages do get lost, however slim that might be with Registered mail. But if it were to happen and I don't have a dealer who specializes in selling 6 step Jefferson nickels or a grading service like PCGS who has never graded one to back me up, how do I provide, "proof of value" when filing a claim for the insurance I paid to cover, let's say, a $10,000 coin? I think I'll be SOL because I will not be able to provide evidence that a market exist for 6 step coins. Is there private insurance that would cover such coins. Am I to fib about what was in the package? Can anyone give me other examples of coins with inflated prices that are not stated in any price guide but yet the PO is providing coverage or not? I guess this never has happened to anyone. We only hear stories about how ebay or paypal does not side with the seller causing a monetary loss. What you say? >>

Have you considered hand carrying it to a Coin Show attended by PCGS? Thats what I would do.

As for valuing the coin, I've learned over the years that what I perceive as value may not always coincide with what others perceive as value and fully understand that my perceptions may not always be "insurable".

ambro51

While on this subject.... I had a thought the other day that it may be a profitable business for PCGS itself offer "shipping insurance". Probably much money to be made and I'm sure they are always looking for that.

BigDowgie

Leo,
Not sure what the probem is on this? Do you think that if a registered package (or any insured package) got lost, you would have to prove the value of the contents to support your insured value? I would think not. So now you are looking to find a way to have suppleimental insurance for the portion of the claim that the USPS Registered Insurance might not cover? One rule you could follow is not sell coins with inflated prices, then the insurance thing works without a problem!

keets

this problem is what happens when we are the one who grades and prices our own coins. I suggest you allow PCGS to assign a grade before you start to price vs. their guide and then you can sell it on the open market at a reputable venue like Heritage to establish a real-world price. remember, ownership always adds to the grade and the value of our own coins.

LindeDad

Simple fact is a nickel and our opinion is worth a nickel in most cases this is what we will find. Unless you have a receipt showing that you paid big bucks for it is worth what it says on the coin.
If you did not pay out your not losing any more than what it cost to get when you lose.

JRocco

Maybe I should get my 7 step Jeff slabbed ?

keets

maybe someone should buy this coin since it would seem like a bargain. of course, we need to trust those pictures and the sellers description.

davewesen

just package well and send registered (no insurance)

there is a much higher probability of you getting in an accident and being dead in 2 weeks than the package getting lost

registered items get sent locked in a canvas bag and controlled by the higher ranking employess of the USPS - most lost / damage / theft occurs because of questionable packaging or rifling by contract workers involved with the shipping.


you did not say where this is going - if you sold it, all you need is invoice for proof of sale price.

leothelyon

<< <i>Leo,
Not sure what the probem is on this? Do you think that if a registered package (or any insured package) got lost, you would have to prove the value of the contents to support your insured value? I would think not. So now you are looking to find a way to have suppleimental insurance for the portion of the claim that the USPS Registered Insurance might not cover? One rule you could follow is not sell coins with inflated prices, then the insurance thing works without a problem! >>



So you're saying PCGs does grade 6 steps nickels and there is a market for them?

leothelyon

<< <i>maybe someone should buy this coin since it would seem like a bargain. of course, we need to trust those pictures and the sellers description. >>



There's no description and the pictures do not allow for a close examination. And there are No returns or exchanges.

I wouldn't accept that coin even if you bought it for me. You can buy it for the Bigdawg though, seems like he could care less about quality.

PS I think my phone is about to ring any minute now.

mrpotatoheadd

<< <i>just package well and send registered (no insurance). >>

Current USPS regulations require the shipper to declare the value of the item for registered mail shipping and an insurance fee for that amount is added to the registration fee. Only items with no value can be shipped with no insurance.

2.3 Fees and Liability
2.3.1 Full Value
Regardless of any insurance that may cover the article, the mailer must always declare its full value to the USPS when presenting it for registration and mailing (see chart below). The mailer must tell the USPS clerk (or enter on the firm sheet if a firm mailer) the full value of mail matter presented for registration. Private insurance carried on Registered Mail does not modify the requirements for declaring the full value. The accepting USPS employee may ask the mailer to show that the full value of the matter presented is declared, and may refuse to accept the matter as Registered Mail if a satisfactory declaration of value is not provided. Only articles of no value may be mailed as Registered Mail without insurance.

leothelyon

I found the following on the USPS site;

Can I purchase insurance with Registered Mail™?

Insurance coverage is included in the Registered Mail fee paid. You must declare the full value of the mailpiece when presenting it for mailing. Insurance is provided based on the declared value and on the value of the article as described in the following table (whichever is lower). The declared value of an item can be determined using the table below:


Item Maximum Replacement Value

Merchandise
Market Value

Money / Cash / Currency
Full value

Nonvaluables - Matter not having intrinsic value such as letters, files, records, etc.
Considered to have no value. If postal insurance coverage is purchased, the customer will only be reimbursed for the replacement expense of the documents (See Additional Notes on Indemnity Limits).

Negotiable Instruments (Documents) - Instruments payable to bearer, including stock certificates and money orders endorsed in blank.
Market value (all values based on value at time of mailing).

Nonnegotiable Instruments (Documents) - Registered bonds, checks, money orders and drafts made out to specific recipients; deeds, wills, and similar documents. Stock certificates are considered nonnegotiable unless endorsed in blank.
Considered to have no value. If postal insurance coverage is purchased, the customer will only be reimbursed for the replacement expense of the documents (See Additional Notes on Indemnity Limits).

Jewelry, Gems, Precious Metals
Market value

Valuable or collector coins is probably covered under Merchandise-- Market Value
Further down the page it reads;

Registered Mail™Inquiries and Claims

What form should I fill out regarding an inquiry about a Registered Mail item?
To file an inquiry for a Domestic Registered Mail item, you should use PS Form 1000 – Domestic or International Claim (available at your local Post Office) or on USPS.com®:

This includes Registered Collect on Delivery (COD) and Military APO / FPO Registered Mail.
This form can also be used to file a Domestic Claim for:
Express Mail service items
Express Mail COD
Insured
Bulk Insured
COD
Military APO / FPO Insured Mail
You will need to provide proof of mailing by submitting your Registered Mail receipt. You also need proof of loss, and proof of value, such as an invoice or sales slip. Claims can be filed online at USPS.com.

When I lost a package through the USPS mail, they required that I get "proof of value" statement from a dealer in a form of a Business Letter Head that stated that the coins I insured were of the value I had insured them for.
Getting back to the topic of, how do I insure a coin where a market value has not been established by A. A dealer and B. A coin grading service, preferably PCGS since they don't grade 6 step coins.
I would not be able to provide this, "proof of value" to the USPS in filing a successful claim to be reimbursed for the lost of a coin PCGS does not grade where a value would have been established.

keets

Leo, the problem isn't how the USPS mailing and insurance works, the problem is how you establish value for your coins.

wondercoin

My 2 cents ... ship it as quickly as you can (taking your chances on registered mail) before your buyer changes his mind. And, you are correct ... you will likely be unable to prove your coin is worth 10x due to the 6th step. In fact, when I recently sold JHF #1 Mint State Jeff collection, we gave the buyer a very scarce 6 stepper (top pop) for no additional cost. Of course, the coins are worth more in 6 steps as compared to 5 steps. But, no one has ever contacted me to ask if I could sell them 6 steppers at 10x the going rate for a 5 stepper (let alone 5x). If they did, I know where to find several great coins and could probably close some deals with those spreads.

Wondercoin

leothelyon

<< <i>My 2 cents ... ship it as quickly as you can (taking your chances on registered mail) before your buyer changes his mind. And, you are correct ... you will likely be unable to prove your coin is worth 10x due to the 6th step. In fact, when I recently sold JHF #1 Mint State Jeff collection, we gave the buyer a very scarce 6 stepper (top pop) for no additional cost. Of course, the coins are worth more in 6 steps as compared to 5 steps. But, no one has ever contacted me to ask if I could sell them 6 steppers at 10x the going rate for a 5 stepper (let alone 5x). If they did, I know where to find several great coins and could probably close some deals with those spreads.

Wondercoin >>



Thank you Mitch. My advice, collectors of 6 step coins are likely as rare as the coins themselves, don't let that thought evade you again!

And, you have an improbability in your post. No-one is going to ask to pay higher prices. You need to take a stand like me. another

And you could have been or be that dealer, to vouch for the stronger, higher value demand for such coins.

But there is demand for 6 steps coins however. Check wherever a description has been given for a 6 step coin. I could give a couple examples how the price more than doubled for 6 step coins. We can also look at the attention given for coin dates like the 1969-D or S when the pictures show a lot of steps. Does Teletrade or Heritage get calls for a spot checking the steps for certain dates? I think they do, I'm one of those who inquire.

I will hold out on those coins because of the number of lingering aspects that would support their value in the future.

Since PCGS has not graded 6 step coins, they should, at least bump the grade up one point. Market grading just might help improve the market value of those coins.

I can see it now, someone disagreeing/arguing over a coin's grade (unheard of), as being overgraded until they are reminded, especially with Jefferson nickels, that the coin likely received a one point bump because it has 6 full steps, reason for the higher sticker on the coin.

Collector and buyers for such coins, market awareness would increase as the argument would grow for what 6 full steps would be acceptable on a coin. And they would need to be full, with both riser and tread intact.Text

keets

Leo, you present an interesting paradox.................a guy hawking a supposed six-step coin at 10X guide value who has harangued the forum for getting hung up on steps instead of overall strike. why is that??

wondercoin

"that the coin likely received a one point bump because it has 6 full steps"

but if that is the case, then why raise the price of the upgraded coin (already) by 10x for the fact it is 6 steps? Do you see that point as well?

That said ... fabulous struck coins will at times sell for premiums without having to specifically ask for the premium (not 10x typically, but perhaps 50% to 100% premium at times if not slightly more). Case in point ... the finest known 1921 SLQ I bought last year out of the Heritage sale for JHF. An amazingly well struck FH coin we paid up for. I think the coin cost over $50,000 with the juice in that Heritage sale. But, when we resold the coin with the entire SLQ collection later in the year at Stacks/Bowers, the coin resold for $69,000! No doubt due to the KILLER FH strike (on the designated coin). And, worthy of the 50% premium or a bit more. But, I have yet to see collectors asking to pay 10x for great strikes on already designated coins whether it be on SLQ's, Roosie Dimes, Franklin Half Dollars or Jefferson Nickels. Maybe your coin will start a trend, but I agree you would have a tough, tough time showing an insurer your sale price was justified for insurance purposes.

As always, just my 2 cents.

Wondercoin

leothelyon

<< <i>Leo, you present an interesting paradox.................a guy hawking a supposed six-step coin at 10X guide value who has harangued the forum for getting hung up on steps instead of overall strike. why is that?? >>



It's always assumed the coin is fully struck whether there are 5 or 6 steps.

leothelyon

but if that is the case, then why raise the price of the upgraded coin (already) by 10x for the fact it is 6 steps? Do you see that point as well?

You're ahead of the curve, that is certain.

leothelyon

Here's a perfect example. Teletrade has two 1969-S coins listed in PCGS holders. The MS65 coin is up to $875 while the MS66 coin is at only $280. The MS65 is selling at 3.1 times more than the MS66 coin. Why is that? The MS65 shows a lot of steps, almost 5 while the MS66 coin does not. What does this mean? There is a hidden interest or a reluctant one to push PCGS to grade 6 steps coins because such a demand would drive the prices up for 6 step coins. And at the same time, drive the prices down on 5 step coins. Pretty much what Wondercoin is sayimg, who is going to ask to pay higher prices for certain coins? Pretty much why most of the Jefferson collectors have not responded to this thread.

So I guess the trading of 6 steps coins will remain outside the circle.

Ok, I'm letting this go........for now.

wondercoin

Leo: the problem is no one wants to pay the premium for the better stepped coin which is why you are looking at a wishful thinking opening bid and no bids. I am selling both of those coins for a customer. Wondercoin

keets

Here's a perfect example. Teletrade has two 1969-S coins listed in PCGS holders. The MS65 coin is up to $875 while the MS66 coin is at only $280. The MS65 is selling at 3.1 times more than the MS66 coin. Why is that? The MS65 shows a lot of steps, almost 5 while the MS66 coin does not. What does this mean? There is a hidden interest or a reluctant one to push PCGS to grade 6 steps coins because such a demand would drive the prices up for 6 step coins. And at the same time, drive the prices down on 5 step coins. Pretty much what Wondercoin is sayimg, who is going to ask to pay higher prices for certain coins?...........................Pretty much why most of the Jefferson collectors have not responded to this thread.

no, Leo, I don't think that's entirely true.

my hunch is that many of the "Jefferson collectors" have heard you go on-and-on about the topic of overall strike quality vs. step detail to be tired of it. to hear you now plead for a six-step designation to hawk you coins is just a bit disingenuous to say the least. add to that your almost shameless self-promotion and that fact that you've insulted, attacked and denigrated several collectors over the years that many just don't enter a thread such as this.

leothelyon

<< <i>Here's a perfect example. Teletrade has two 1969-S coins listed in PCGS holders. The MS65 coin is up to $875 while the MS66 coin is at only $280. The MS65 is selling at 3.1 times more than the MS66 coin. Why is that? The MS65 shows a lot of steps, almost 5 while the MS66 coin does not. What does this mean? There is a hidden interest or a reluctant one to push PCGS to grade 6 steps coins because such a demand would drive the prices up for 6 step coins. And at the same time, drive the prices down on 5 step coins. Pretty much what Wondercoin is sayimg, who is going to ask to pay higher prices for certain coins?...........................Pretty much why most of the Jefferson collectors have not responded to this thread.

no, Leo, I don't think that's entirely true.

my hunch is that many of the "Jefferson collectors" have heard you go on-and-on about the topic of overall strike quality vs. step detail to be tired of it. to hear you now plead for a six-step designation to hawk you coins is just a bit disingenuous to say the least. add to that your almost shameless self-promotion and that fact that you've insulted, attacked and denigrated several collectors over the years that many just don't enter a thread such as this. >>



There was once a thread about a coin on ebay. I gave my opinion of that coin and was attacked by a couple of other posters for ridiculing someone's coin. But the guy hadn't even bought the coin yet. He didn't even own it. Do you remember that thread Al?

keets

nope.

wondercoin

Look guys ... let's face it ... it is tough enough for some folks to swallow that having 5 steps vs. 4 1/2 steps on the reverse of the Jefferson nickel should make a coin worth 5x - 10x the money. Now, we are being told that having a 6th step vs. a 5th step is worth another 10x on top of that. So, essentially 4 1/2 steps to 6 steps equals 100x value if my math is right (10x times 10x)!! All this for the reverse of the coin without regard to how well struck or poorly struck the other 99% of the coin's surfaces are (front and back). Leo is "cheerleading" the argument for the second 10x added value at the same time as he is presumably offering such coins at 10x the price. Keets is reminding Leo that on many other occasions Leo has suggested that one should pay attention to the entire strike of the Jefferson nickel and not get caught up paying wild sums of money for what the grading services determine is "five full steps".

Now correct me if I have misstated what the discussion is centering around here. Question for Leo ... Leo do you believe Jefferson nickels should be worth up to 10x the price where a 6th step is present vs. let's say 5 1/2 steps and would you make a buy/sell market in these types of coins or simply offer them for sale to anyone willing to pay 10x the price for that extra 1/2 step? Question for Keets ... what do you believe to be the fair "added value" for a nickel that has 6 full steps vs. 5 1/2? 1.5x? 2x? 3x? No added value?

Wondercoin

leothelyon

<< <i>nope. >>



Here you go.

You asked for opinions on a couple of coins, did I hurt your feelings? I didn't think you owned the coin. But why should that matter? So....did you buy it or did you already own it. You were asking for opinions.

leothelyon

<< <i>Look guys ... let's face it ... it is tough enough for some folks to swallow that having 5 steps vs. 4 1/2 steps on the reverse of the Jefferson nickel should make a coin worth 5x - 10x the money. Now, we are being told that having a 6th step vs. a 5th step is worth another 10x on top of that. So, essentially 4 1/2 steps to 6 steps equals 100x value if my math is right (10x times 10x)!! All this for the reverse of the coin without regard to how well struck or poorly struck the other 99% of the coin's surfaces are (front and back). Leo is "cheerleading" the argument for the second 10x added value at the same time as he is presumably offering such coins at 10x the price. Keets is reminding Leo that on many other occasions Leo has suggested that one should pay attention to the entire strike of the Jefferson nickel and not get caught up paying wild sums of money for what the grading services determine is "five full steps".

Now correct me if I have misstated what the discussion is centering around here. Question for Leo ... Leo do you believe Jefferson nickels should be worth up to 10x the price where a 6th step is present vs. let's say 5 1/2 steps and would you make a buy/sell market in these types of coins or simply offer them for sale to anyone willing to pay 10x the price for that extra 1/2 step? Question for Keets ... what do you believe to be the fair "added value" for a nickel that has 6 full steps vs. 5 1/2? 1.5x? 2x? 3x? No added value?

Wondercoin >>



You betcha! But who knows more about Jefferson nickels than I? Lots of collectors do. I'd like to extend my argument here but most of it would fall on deaf ears. But yes, 6 step coins are worth more as long as the pops are low but since none exist, it basically becomes a personal quest between those who have them and those who don't. And whether that means 3x 5x or 10x, very few collectors will know.

keets

You asked for opinions on a couple of coins, did I hurt your feelings? I didn't think you owned the coin. But why should that matter? So....did you buy it or did you already own it. You were asking for opinions.

after re-reading the thread I can't understand what makes you think I reacted in any way to your reply since one member entered after your post and then the thread ended. what I do find interesting is that eight years ago other members had expressed their thoughts similarly to what I posted above regarding your criticisms(to wit----- you constantly dog other's peoples coins/FullStepJeffs). not much has changed over the years, perhaps you should consider that simple fact.

keets

hey, here's Steve's entire post so anyone interested won't have to follow the link........................BTW, I agree with everything he said, then and now.

Sunday December 19, 2004 4:08 AM
--------------Begin Rant...

But Leo, you call your 53-S a 66? I don't understand this... you constantly dog other's peoples coins, talking about how they have dings here and there... but, you seem to pride yourself as "The guy with the $125,000 FS 1953-S." Funny thing is... you got no takers... and it isn't the first time you've listed that coin for sale... with no takers. The coin is listed here... but, the funny thing is... with the cut across pilar four and what looks like chatter in the upper reverse field, added with the fact that your definite FS coin, which I think is probably a 65FS coin in a PCGS holder even with the bad hazy pictures, to you, is a 66 coin... but, your dogging the 39-D 65 coin, which, IMHO, is an accurately graded coin for PCGS (I actually kind of like that toning to it, even though some would say that might be "ugly"... see my previous rants about Jeffs). I think it's very interesting that you only blew up the 39-D in the PCGS holder to make your point.

I guess I could say I'm the guy with the 1938 NGC Proof 68 worth $20,000... or the guy with the 1940, Reverse of 38 Childs Pedigreed NGC Proof 65 worth $10,000... or the guy with the 39, 40, 41, 42, 42P proofs worth $25,000 each... or the guy with the 1953-S FS I cherrypicked out of a dealer's junk box, worth $50,000... heck, we could all be the guy/gal with the .05 cent nickel... but I'm not any of those. I'm the guy that enjoys collecting Jefferson Nickels. You can be the guy with the $125,000 53-S. I'm just tired of reading you dog other people's coins... I don't think I've actually seen you give a positive reply on a single coin yet. But, I hope it makes you feel better for doing it.

Leo, why don't you get that bad boy graded via PCGS... it would surely prove me wrong... but I know you won't... and even if it did... it would just prove my next point.

On a side rant... Keets... I agree with you... grading coins with a picture is almost impossible... you can only hope to find a truely gem coin that maybe worth more in the future. That was the only reason why I didn't purchase that coin off Ebay... I really thought, for the price you paid for it, it was still a steal. I appreciate you giving us the opportunity to look at your 39-D again.

Go ahead... dog me back Leo... as long as it makes you feel better.

Steve

The guy with a passion for a man named Jefferson... does that make me heterosexually challenged?

leothelyon

<< <i>You asked for opinions on a couple of coins, did I hurt your feelings? I didn't think you owned the coin. But why should that matter? So....did you buy it or did you already own it. You were asking for opinions.

after re-reading the thread I can't understand what makes you think I reacted in any way to your reply since one member entered after your post and then the thread ended. what I do find interesting is that eight years ago other members had expressed their thoughts similarly to what I posted above regarding your criticisms(to wit----- you constantly dog other's peoples coins/FullStepJeffs). not much has changed over the years, perhaps you should consider that simple fact. >>



Saying nothing is a reaction. When people ask for opinions, I give them as best and honestly as I can. I can't help it if they get their feelings hurt. We're not running a daycare center here.

wondercoin

"The guy with the $125,000 FS 1953-S."

From a recent post, that pronouncement was only "1" off ... it was roughly a $25,000 nickel.



Still, not many guys can describe themselves as "The guy with the $25,000 nickel".

Wondercoin

keets

Leo, you are delusional??

OldEastside

Wow my eyes hurt, Post some pics Leo, I'm sure you'll get at least a dozen Professianal opinions
from collectors and dealers alike, research as many 6steppers as you can and sales historys
crunch your data, state rarity among the date of this coin, start a petition drive to all the TPG's
that a 6th step should equal a 1 point jump, document everything. Contact Lloyds of London
with all applical information for a policy..............Or just hand deliver it as someone mentioned
earlier, and take the expense off on next years taxes. Oh and document serious offers from
potential buyers for this Monster Stepper, Make as strong a case as you can.

Or/also you can do what I've done (BUT I WILL NOT RECCOMEND THIS) when sending Raw Jeffs
through the mail, is to keep it under an ounce and slap some cardboard around it and place the
.46 cent stamp on it an have faith that it gets there, haven't lost one yet.

Seriously Though I understand your concerns.............But the price guide is all you may get for it
in a MS67FS holder........it is what it is.

Steve

SUMORADA

my hunch is that many of the "Jefferson collectors" have heard you go on-and-on about the topic of overall strike quality vs. step detail to be tired of it. to hear you now plead for a six-step designation to hawk you coins is just a bit disingenuous to say the least. add to that your almost shameless self-promotion and that fact that you've insulted, attacked and denigrated several collectors over the years that many just don't enter a thread such as this.



With that said, I believe it's due to your passion for the series, sometimes it's better to refrain and teach then to insist and demand.......JMO.

leothelyon

<< <i>Wow my eyes hurt, Post some pics Leo, I'm sure you'll get at least a dozen Professianal opinions
from collectors and dealers alike, research as many 6steppers as you can and sales historys
crunch your data, state rarity among the date of this coin, start a petition drive to all the TPG's
that a 6th step should equal a 1 point jump, document everything. Contact Lloyds of London
with all applical information for a policy..............Or just hand deliver it as someone mentioned
earlier, and take the expense off on next years taxes. Oh and document serious offers from
potential buyers for this Monster Stepper, Make as strong a case as you can.

Or/also you can do what I've done (BUT I WILL NOT RECCOMEND THIS) when sending Raw Jeffs
through the mail, is to keep it under an ounce and slap some cardboard around it and place the
.46 cent stamp on it an have faith that it gets there, haven't lost one yet.

Seriously Though I understand your concerns.............But the price guide is all you may get for it
in a MS67FS holder........it is what it is.

Steve >>



As already pointed out to me by wondercoin, asking PCGs to grade 6 step nickels would be like asking
to pay more for a coin. Good for the seller, bad for the collector if they did grade them but the majority of
collectors would rather keep searching rather than pay big bucks. I have another 10 years left in me, I'll wait.
But I think that as long as I have an invoice or a receipt, I'll be ok with filing a claim for lost coins.

Thank you for your most thoughtful input, well appreciated.

keets

It's always assumed the coin is fully struck whether there are 5 or 6 steps.

here's an example of why the above statement isn't necessarily true. the reason is simple to understand.

leothelyon

<< <i>It's always assumed the coin is fully struck whether there are 5 or 6 steps.

here's an example of why the above statement isn't necessarily true. the reason is simple to understand.

>>



And the bidding is up to $6.25.

I use to sell these in the 1990's for around $100. I wouldn't be surprised if a few made it to some registry sets.

This coin is not worthy of discussion. Never has or ever will be. But for whatever it's worth, the economy was likely in a recession due to the Korean war. I imagine the US Mint also had to make some cutbacks to stay in the black. But it's obvious, whatever they had to work with, they didn't have enough dies. Strike problems stayed with us through most of the 1950's for the exception of the 1958-D and 1959-PD.

To extend the life of a die, especially for those dies that had lost most of their details, the hammer pressure would be reduced to extend the life of those dies. The coins that resulted from those dies were made for commerce and circulation.

This fact should raise the eyebrows of any collector who has already spent thousands on coins with little details for their collection. The horrifying thought, that their collection is made up of coins that were meant for circulation and not for serious collectors. Good grief, that's what most collectors here ever talk about.......hammered strikes on their coins.

But any coin that comes up for discussion and if anyone can post a better example, we're really back to square one. It's not grandma's apple pie unless it looks, smells and tastes like grandma's apple pie.

keets

the point of my post which linked the 1953-S was to illustrate that it wasn't uncommon during the mid-late 1950's for coins to have Full Step detail yet appear weak or mushy with an incomplete strike albeit due to over-used/worn dies. since coins were struck (as you seem to understand) at a pressure which wouldn't allow the step area to even contact a planchet, that area didn't wear at the same rate as the rest of the die(s). the result is predictable-----every once in a while a coin would be struck at higher pressure and show fully defined steps or when the press striking force was increased, at some point the step area would contact the planchet and provide a Full Step coin with mushy , weak overall appearance. most often they look like Full Step coins that are circulated.

the most common dates I've seen are 1951-1953 and 1957.

davewesen

Keets, I wished I would have seen your linked auction before it closed. The reverse die on that coin looks like the same one for 3 of the top 5 FS by PCGS. It has the grease filled NU of UNUM and die polished proof-like area just below that.

coolest

I thought the value of the item was irrelevant. When you buy $10,000 insurance you get $10,000 if they lose the item.

coolest

And BTW why do you think there is a market for 6 step coins? I would say that since most datas don't have 6 step examples and several dates that don't have 5 step examples, finding a 6 step coin once in a while has very little interest to most collectors. Try to sell your 6 step coin to a dealer at 1000x Greysheet and let me know how that goes.

LindeDad

<< <i>I thought the value of the item was irrelevant. When you buy $10,000 insurance you get $10,000 if they lose the item. >>



Not true you only get what you can prove the worth of what they lost.

Neca63

Why would someone want to collect 6 step Jeff nickels?
How about because they are examples of the finest and fullest defined coins made by any given mint in any given year.
Or, how about because some people like to collect date and type coins by finest known early die state, with full definition showing... ie Full Head, Band, Torch.
I am in favor of the adding 6 step, 4 step, and possibly 3 step superlatives to those years as warranted by reality.
A gem 1960D 4 step nickel may arguably be about as fine as it gets.
A 1943D jeff should have 6 steps to be considered finest known.
What about a real nice 1968d, or 1969s, seen any nice 3 or 4 steppers lately?
It seems to make more sense to me that we should not be adjusting grades with strike. Blending them into the grading yes, but not adjusting them.
The collector marketplace will be better served if it is provided with simple, accurate, and updated descriptive labeling that is easy to understand.
If you tell me that a coin is an ms64 4 step, I am going to understand that description better than I would if you just tell me that it is an MS64 or 5.
If you give the collector useful and correct information, supply and demand will likely dictate correct valuations.
Information awakens the public, ignites interest, and serves understanding.

AMRC

Have you considered a magic wand?