1942 DDO Jefferson: Is it worth this much?

MJPHELAN · April 27, 2005 11:22PM

Jefferson variety experts check out this auction from Heritage. They have a certified 1942 DDO FS-025 Jefferson MS-66FS. Do you think the coin is worth this much? I have read that they are uncommon in uncirculated condition.

Heritage 1942 DDO Jefferson

pharmer · April 27, 2005 11:31PM

Some of the reserves in this auction are quite high, don't know if that is the case here.

RELLA · April 27, 2005 11:35PM

Looks like the reserve was set there...thought it was just bid to that level but went to take a look; "next bid meets reserve". I thought it was $1,000+ coin but nothing like this.

I was hoping to steal this lot...but I guess that's out of the question now. Seems like the nicer Jefferson die varieties are really starting to show signs of life; we'll see if anyone bites on this one.

RELLA

MJPHELAN · April 27, 2005 11:59PM

I too was hoping to "steal" this for about $50. Does not look like it will happen. The reserves on many of the nice Jeffersons in this auction are quite high.

stephunter · April 28, 2005 4:29AM

If you go by the Ngc census it looks like the FS-025 is harder to find than the FS-026. There are about 8 FS-026 graded and only one FS-025 with Ngc at the moment (mine

). I don't think Ngc has graded any with 5 steps or better yet.

FullStepJeffs · April 28, 2005 4:40AM

Is it just me, or is there a reason why the pop report doesn't list these? I mean, there's a whole 19 MS66FS coins with 1 higher in the regular (not FS25) spot, but they don't even list the FS25 variety... I wonder if that makes this one the only one and the pop report hasn't been updated yet or what.

I will say someone wants a few dollars for it... is it worth it? Time to wait and see...

Steve

solid · April 28, 2005 4:44AM

At this price level, I think the key is seeing the coin in person (or by agent) to make sure it is good
for the assigned grade.

The '42 Type 1 coins are very scarce in 66FS, the last one at Heritage selling for $1840 in Jan 2005.

The doubled-die is a great bonus and worth a nice premium if the coin is all there. Assuming it is,
I would trade my '42 T1 66FS coin and a good chunk of change for this one.

Ken

solid · April 28, 2005 4:47AM

Steve, this coin was submitted under their Mint Error service, and is not included in their
standard pop reports.

I would think it likely that this is the finest certified at PCGS.

Ken

clackamas · April 28, 2005 4:58AM

The coin being a 66FS makes it rare in and of itself, being a nice doubled die should garner a premium.

spy88 · April 28, 2005 1:13PM

I thought my bid of $480 was going to hold...til I got an email today saying I'd been outbid.

Heritage has sold a few in this grade and one went for a low of $299 back in 5/03 and another up to a high of $1840 in 1/05 with several in between these totals.

Is it worth what it's at now or what it eventually sells for are two different questions. If one thinks it isn't worth the present $2400 then they most certainly won't agree to what it hammers for. I personally think it is way over bid based on past sales of this year in 66FS. But throw in the DDO...it's anyones guess. It will be interesting to see what it ends up at regardless.

As a side, I was looking at this 1964 MS67 when it was $1000. While I was fiddling with the lighting of the image and closed it, it had jumped to $2600!!!

FullStepJeffs · April 28, 2005 11:56PM

<< <i>Steve, this coin was submitted under their Mint Error service, and is not included in their
standard pop reports.

I would think it likely that this is the finest certified at PCGS.

Ken >>

Ken,

I guess that's what I was trying to say... the real problem is as long as PCGS doesn't give these rare varities their own line within the pop report (like they do with the 43/2, 42D/D and 46D/D), they will continue to live in obscurity by most. I have no doubt with only 19 coins graded and 1 higher, the true probability is that this is definitely a census coin for this variety... I'm just sadened that PCGS won't try to make their pop report better and prove how rare these really are.

For another note, no offense, but Spy88 related the price of a coin back in 2003... from what I've seen in this series, many, if not all of the rarites within this series have doubled or tripled in price in the last few years. I highly doubt anyone could come close to getting a similar coin for the price paid in 2003 IMHO...

Headed to Washington State... hopefully will be back 1 June... Take Care All!

Steve

spy88 · April 29, 2005 4:01AM

<< <i>...no offense, but Spy88 related the price of a coin back in 2003... >>

None taken Steve...simply pointing out that prices for this date/mm in MS66FS have shown a dramatic increase in value even without the variety (as seems to be the case with many Jeffersons in high grades with the FS attribution).

This is one year/mm I've not been able to make from a raw purchase and have been unwilling to pay moon money for a slabbed one. And as I will be liquidating my collection in the very near future, it has become moot.

leothelyon · April 30, 2005 6:22AM

I can't see why anyone would pay moon money for this coin. Because it's a variety, it can't go into a registry set. So what's the fuss? Although it could be recertified without the variety noted. But the price is still way to high for a MS66FS 19/1 coin. I can think of 3-4 dozen other FS Jeffs that are rarer then this date. As with most of the coins in the auction, this coin does not appear to be fully struck and the cheek shows too much traffic for a MS66 grade. The way Heritage takes pictures, you can't even tell if the steps are all there. None of the other coins impress me as high quality, full struck coins, The NGC 1964 is not a MS67 coin but the strike and surfaces may reveal if it's a SMS coin, but that's unlikely to happen.
The 1946-S MS66FS is from the Nevadaman's collection. This coin sold in the Bowers and Merena auction held in Pittsburgh, PA. last April, 2004. I remember this coin, it's colorful and I would have owned this coin if the strike was stronger and if it had more luster, any luster, shining through the toning.
Seeing what the owners want for these coins, I don't see myself making the drive now.
The other drawback is that the auction is on a Thursday for these coins and the show doesn't open for the public until the next day unless you pay $50 for a early bird badge of some sort. I'm not killing two days in St. Louis, MO. Am I correct about this? Has anyone heard different?

Leo

1942 DDO Jefferson: Is it worth this much?

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The more qualities observed in a coin, the more desirable that coin becomes!

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