1962-D Jefferson Nickel

TigersFan2

I received in the mail today a 1962-D Jefferson Nickel (PCGS MS65) that I purchased on Ebay for $18. The PCGS Price Guide has it at $65. This surprised me because 280 million 1962-D nickels were minted and it's a very common coin. But when I entered it into my Registry Set today, I see that PCGS has only graded 2 1962-D Nickels as MS66 and none higher than that. So for $18 I purchased a coin with only 2 better.

This makes me wonder, "Why?" How come there aren't more MS66 and higher? With 280 million minted it seems like there would have been more high quality coins saved. Or was 1962 just a bad year for having good strikes? Go back to the 1940-1950s and there are a lot of coins grading MS66.

JeffersonFrog

...

bolivarshagnasty

Great buy on a slabbed MS65. Early 60's Jeffs just plain suck. QC at the mint during that era was non existent.

TigersFan2

Originally posted by: JeffersonFrog
Look through some 1962-D rolls. In my experience 1962-D coins are some of the ugliest, beat-up, poor quality coins you'll ever see. I tried the "make my own" game, and the only ONE I ever felt comfortable sending in came back MS-65. Others have been trying too, as there are only 2 MS-66 coins out of the ~975 coins PCGS has graded. I'm pretty sure Teletrade had a 1962-D PCGS-66 a few years back, and I recall thinking even it did not look like a MS-66 coin. It is interesting to note the 1960-D was in a similar situation not too long ago, but its population has "exploded" to about 75 MS-66 coins. Its value also plummeted from a high of $600 to its current $100 +/- $25. Long way of saying, "it was a bad year for coin quality in Denver, the MS-66 grade would be a >$1,000 coin right now, but it is one quality roll away from going the route of the 1960-D". All just my opinion of course.

Thank you for your excellent response. I got out my 16x loupe and looked over the coin to wonder whether it could be upgraded to MS66 by sending it back in and make the value go up 20x. But even though it's an older slab (16xxxxxx), I don't think it has an MS66 in it. Definitely not FS either. I'll definitely keep a watch on the population report in the coming years to see if any more MS66 get graded. I guess submitting and getting an MS67 would be like winning the Powerball.

And what you're saying is that if I ever come upon an original bank roll of 1962-D nickels, I need to buy it and see if I've won the lottery.

wondercoin

I just got in the week (76) sealed 1962 mint sets. It was fun opening them and checking out all the coins. The 1962-D nickels were among the worst coins in the sets. Most were MS62 or MS63 quality. On the other hand, the 1962-P nickels were, overall, lovely coins with a couple dozen FS specimens that appeared upwards of MS66+ to MS67 quality. I had high hopes for the 1962-D nickels before opening the sets, but it did not pan out. Wondercoin.

TigersFan2

Originally posted by: wondercoin
I just got in the week (76) sealed 1962 mint sets. It was fun opening them and checking out all the coins. The 1962-D nickels were among the worst coins in the sets. Most were MS62 or MS63 quality. On the other hand, the 1962-P nickels were, overall, lovely coins with a couple dozen FS specimens that appeared upwards of MS66+ to MS67 quality. I had high hopes for the 1962-D nickels before opening the sets, but it did not pan out. Wondercoin.

Send in those 1962-P coins to PCGS. FS with MS66+ or MS67 will be some valuable coins.

TigersFan2

I just went to Ebay and looked at 1962-D Nickels. First, there are a lot of people selling uncirculated rolls. My guess is that they're left from people searching for the MS65 or higher coins. Second, there are some very good pictures of 1962-D coins and it appears that it's the reverse that kills the grade on the coins. The obverse can look quite good, but the reverse is lacking in a lot of detail. It's like the Denver mint just used kept using reverse dies that were well worn when they needed new dies.

TigersFan2

Here's the sister coin of the one I bought. The cert# is only 1 different my mine and it's being sold by a different seller at triple what I paid for mine.

1962-D (PCGS MS65)

TigersFan2

Wow! Here's a 1962-D (PCGS MS65) being sold by THE SAME PERSON I bought mine from a week ago for $18. Maybe they realized they didn't get a good price when they sold it to me as an auction. They're selling this one as a BIN for 3.5x more.

1962-D (PCGS MS65)

TigersFan2

Nuts... Here's a seller wanting 2x MS65 money for a MS64.

1962-D (PCGS MS64)

TigersFan2

Here's one graded MS70 by some other grading service.

M4AAOSw~1FUWRl-">1962-D (SGS MS70)

TigersFan2

And if you feel lucky, here's an NGS MS66 that someone could attempt to cross over to PCGS.

SEAAOSwT6pVjd-H">1962-D (NGC MS66)

davewesen

The good news is you can probably buy BU rolls of these for $5 all day long. Think of the enjoyable hours you could be spending looking for a $10K MS67.

TigersFan2

Originally posted by: davewesen
The good news is you can probably buy BU rolls of these for $5 all day long. Think of the enjoyable hours you could be spending looking for a $10K MS67.

Yes, rolls that many other people have already looked through!!!

mannie gray

1962-D nickels are really unattractive, generally. Same for 1961-D and 1960-D.

The unusual coin that does have a decent strike usually has flat, dull luster, in some cases almost no luster at all.

I have looked through thousands upon thousands of Jeffersons, a large number of those are "real" OBWs.

I found a few 62-D coins that have screaming luster, but are poorly struck.

I put them aside, as I would prefer a coin with booming luster and an average strike over a well struck but dull, lackluster coin.

I realize I am in the minority with that opinion, but I know what I like and am happy with it.

leothelyon

I've had a few of these over the years and they all looked beat up, stepped on. What I've done is to find a nice strike without the die fatigue, stretch marks look. But came across the following with an added feature. I'll take another picture of it since I'm working with a new camera. Here's a SEGS prooflike coin.


Leo...........................Mitch None of those 72 mint set coins had a nice strike and steps? I don't care if they're marky, let me know.......................Well, as usual, the linky doesn't work. I'll fix it tomorrow.......after golf. Or if anyone really wants to see it, click on my other link and scroll way down, there are a couple there showing.

wondercoin

Unfortunately not Leo.

The nicest coins in the sets were P mint nickels and quarters.

Wondercoin

Rampage

The MS65 pop is 207, so I can see why the price has that much less than the price guide value. It is a nice coin, though.

The one that TNFC is selling looks to have some nice album toning, so maybe they are seeking more money for the eye appeal, rather than the grade.

Rampage

Leo-Your link is not working (it has an extra https in it). Here is the good link:

http://www.fsjeffersonnickels....ge/7163092/7455518.htm

It is a nice coin, too!

leothelyon

Thanks Mitch..................Rampage, Thanks


Leo

ElmerFusterpuck

Cool topic! I like to look for Jefferson nickels at coin shows in 2x2's, hoping to snag a nice MS one. It's a low risk activity, most usually cost $1 or less. My experience with the 62-D has been the same; I haven't bothered buying any of them, even for 25 cents. Along with the 62-D, many other dates also come out looking like metal slugs, like the '55 and and '58 Philly pieces. My best raw coin success was finding a 1955-D nickel in a 2x2 for 25 cents and getting a MS-66 out of it by PCGS. Other later dates I've tried are the 55-P, and the 60-P and D. All came back MS-65, but one each of the 60-P and D came back MS-65+.

JeffersonFrog

...

davewesen

Originally posted by: TigersFan2

Originally posted by: davewesen
The good news is you can probably buy BU rolls of these for $5 all day long. Think of the enjoyable hours you could be spending looking for a $10K MS67.

Yes, rolls that many other people have already looked through!!!

Looking for what? There are no rare varieties. When these came out, it was during the 'peak' of roll collecting and many people collected rolls rather than coins.

david3142

1963-D is the same. I went through an entire original bag looking for FS and 66 coins. I got a bunch of 65s and no FS coins. If you want I can send you an entire roll of just-miss FS coins and/or MS65 coins. The 65s go for about $30 each on eBay once slabbed. The coins from Denver in the late 50s/early 60s just don't come very nice at all.

TigersFan2

Originally posted by: davewesen

Originally posted by: TigersFan2

Originally posted by: davewesen
The good news is you can probably buy BU rolls of these for $5 all day long. Think of the enjoyable hours you could be spending looking for a $10K MS67.

Yes, rolls that many other people have already looked through!!!

Looking for what? There are no rare varieties. When these came out, it was during the 'peak' of roll collecting and many people collected rolls rather than coins.

Looking for that rare MS66.

leothelyon

Well, here's a better picture of the coin on my website. SEGS graded it MS63 and rightly so, it's quite marky. But with it's strong strike and prooflike fields, it's not a coin everyone can have.
[URL=http://s595.photobucket.com/user/leothelion_04/media/DSC_0615a.jpg.html][/URL]
[URL=http://s595.photobucket.com/user/leothelion_04/media/DSC_0616a.jpg.html][/URL]


Leo

keets

something that was discussed in another thread was unstuck planchet flaws. that is part of what plagues many of the mid-50's through early-70's Jefferson Nickels. another is the fact that the Master Die(s) and Hubs were showing wear which was transferred to the Working Dies. I'm not sure, but I don't think a new Master Hub was made from 1940 until 1971. the different Mints made do with what they had, oftentimes striking coins at lower pressure to extend die life.

291fifth

I had just started collecting when the 1962 nickels appeared. Everyone was going to make their fortune by buying, holding and selling BU rolls and bags of such coins! Books were published that predicted sky high prices for the rolls in the not too distant future. And then came May of 1964 and what I consider to be the greatest coin market crash of all time. It didn't happen all at once but over a period of a few years the number of collectors dropped by a big percentage, probably even more than 50%. I wonder how many of those rolls and bags are still out there, unopened, with the original buyers or their heirs still waiting to make their fortune?

leothelyon

Originally posted by: 291fifth
I had just started collecting when the 1962 nickels appeared. Everyone was going to make their fortune by buying, holding and selling BU rolls and bags of such coins! Books were published that predicted sky high prices for the rolls in the not too distant future. And then came May of 1964 and what I consider to be the greatest coin market crash of all time. It didn't happen all at once but over a period of a few years the number of collectors dropped by a big percentage, probably even more than 50%. I wonder how many of those rolls and bags are still out there, unopened, with the original buyers or their heirs still waiting to make their fortune?

Or they were simply taken to a bank and eventually, the rolls went to merchants and were opened to make change..........oh, the horror!


Leo

Unknown

This content has been removed.

wondercoin

"A 60-d actually sold for as much as $2000 once."

Actually, a 1960-D nickel (MS64FS) actually sold for about $32,000.00 once way back when in a Stacks sale. It then resold to my customer (I bought it for him) about a year or so later for just under $10,000.00! It did not meet that standard at that time for FS (by a vote of 12-5 as I recall) so PCGS removed it from the holder and paid my customer everything the coin cost him at that auction minus $100 as PCGS returned the coin to my customer (talk about a company that stands by its guarantee and is generous with the guarantee!) It is, of course, a fabulous 1960-D nickel (probably the nicest in existence) - a just near FS miss back then to a true monster FS! I believe Leo still has pics of it (and you do, feel free to post them here Leo). I enjoy looking at this nickel to this day as my customer gave it to me a couple years back (to do whatever I feel like doing with it) when I was visiting with him.

I also bought a 1961-D MS65FS nickel for $23,000.00 as I recall at auction for a customer and then resold it for the customer for a reasonable profit a few years later in a private treaty deal.
Wondercoin

TigersFan2

This is very interesting to read. Thanks for this discussion. I never would have believed some "recent" date coins could be so interesting.