1962-D Jefferson Nickel
TigersFan2
Posts: 1,442 ✭✭
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.
I love the 3 P's: PB&J, PBR and PCGS.
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If we were all the same, the world would be an incredibly boring place.
Tommy
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.
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.
1962-D (PCGS MS65)
1962-D (PCGS MS65)
1962-D (PCGS MS64)
M4AAOSw~1FUWRl-">1962-D (SGS MS70)
SEAAOSwT6pVjd-H">1962-D (NGC MS66)
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!!!
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.
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.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
The nicest coins in the sets were P mint nickels and quarters.
Wondercoin
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.
http://www.fsjeffersonnickels....ge/7163092/7455518.htm
It is a nice coin, too!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
10-4,
My Instagram picturesErik
My registry sets
If we were all the same, the world would be an incredibly boring place.
Tommy
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.
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.
[URL=http://s595.photobucket.com/user/leothelion_04/media/DSC_0615a.jpg.html]
[URL=http://s595.photobucket.com/user/leothelion_04/media/DSC_0616a.jpg.html]
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
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
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
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