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Did I Just Pick Up A 1940 Jefferson Proof For $2 By Accident?

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hoppyg's Avatar
United States
89 Posts
 Posted 08/14/2016  9:39 pm Show Profile   Bookmark this topic Add hoppyg to your friends list Get a Link to this Message Number of Subscribers
I stopped by the flea market on the way home and was browsing the Jefferson's looking to update the old Dansco. I ended up buying 8 or so coins not really paying close attention, but I knew the coins were an upgrade for the set. One of the coins was marked as a 1940 P. I could tell the coin was a sharp strike but the coin has a moderately heavy yellowish tone but the fields didn't catch my eye and the guy was closing up shop so I made my choices fairly quickly. Once I got home and removed the coin from the 2x2 for a closer look, before it was placed into the album, I noticed mirrored fields behind the toning. I believe I may have just got one of the better deals of the short time I have been collecting coins, but before I get to excited I would like your guys help validating the strike. I appreciate any insight :) I did take 2 pics with the flash on to show how sharp the strike btw

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coop's Avatar
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 Posted 08/14/2016  10:25 pm  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
Looks like a proof coin to me. The surfaces all looked correct, but the image of the edge confirmed it to me. Nice snag.
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acloco's Avatar
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 Posted 08/14/2016  10:44 pm  Show Profile   Bookmark this reply Add acloco to your friends list Get a Link to this Reply
Unreal. The last picture is definite confirmation.

Excellent score. Thanks for sharing!!!!!!!!!!!!!
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coop's Avatar
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 Posted 08/14/2016  10:47 pm  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
Take an image with the edge of a normal nickel/2 nickels and you will see the extra thickness of the edge of the proof coin. I would like to have that image for my educational files. (best way to hold them together is with a spring clothes pin)
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hoppyg's Avatar
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 Posted 08/14/2016  11:19 pm  Show Profile   Bookmark this reply Add hoppyg to your friends list Get a Link to this Reply
Here you go Coop, the pic is of a 1940P on the left and the 1940 Proof on the right
Sorry for the picture quality, I was having a hard time getting my camera to focus on the edge. Also, I think this might be the 1940 Proof with the 38 reverse. Take a look at the pivs from the NGC website, the first pic is the 40 proof with the 40 back, the wnd is the 40 proof with the 38 back, and the last is my coin. The edge of the stairs are not cut straight down like the 40 back and the steps are a bit wavy. Thoughts?

Did-I-Just-Pick-Up-A-1940-Jefferson-Proof-For-$2-By-Accident?

Did-I-Just-Pick-Up-A-1940-Jefferson-Proof-For-$2-By-Accident?

Did-I-Just-Pick-Up-A-1940-Jefferson-Proof-For-$2-By-Accident?

Did-I-Just-Pick-Up-A-1940-Jefferson-Proof-For-$2-By-Accident?
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coop's Avatar
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 Posted 08/14/2016  11:29 pm  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
I'll have to try one myself sometime. The differences should be more pronounced. On a roll of proof cents, you can only fit 48 cents into a tube. So the edges are slightly thicker on proof coins.
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hoppyg's Avatar
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 Posted 08/14/2016  11:37 pm  Show Profile   Bookmark this reply Add hoppyg to your friends list Get a Link to this Reply
Yeah, the picture does not do it justice. I will take a better pic tomorrow after work with less of an angle. It is clear in hand, I just was having issues with the set up. I didn't want to bump the coin and cause any damage. I can be a bit clumsy sometimes..haha. I am fairly sure this has the 38 reverse, I can't seem to find out how rare of a find it is, all I have come across is that it is more rare than the 40 back.
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hoppyg's Avatar
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 Posted 08/14/2016  11:44 pm  Show Profile   Bookmark this reply Add hoppyg to your friends list Get a Link to this Reply
I just read on PCGS that the 40 proof with the 38 reverse has an estimated 700 surving specimens. That is unreal
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hoppyg's Avatar
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 Posted 08/16/2016  09:53 am  Show Profile   Bookmark this reply Add hoppyg to your friends list Get a Link to this Reply
Update on the coin. I stopped by the LCS and the coin was confirmed to have the 1938 reverse strike. This variation only exist as a proof strike in 1940, so the coin is confirmed as a proof as well. I have sent the coin off to NGC to be graded and slabbed. I will post the results once the coin returns.
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Mister Kairu's Avatar
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1911 Posts
 Posted 08/16/2016  10:40 am  Show Profile   Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
Wow, that seems like a really awesome coin to get for $2! Congrats and can't wait to see what it comes back as from NGC!
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coop's Avatar
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 Posted 08/16/2016  10:44 am  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
They are out there.
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nss-52's Avatar
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 Posted 08/16/2016  11:10 am  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
PCGS PROOF Jefferson nickel

Did-I-Just-Pick-Up-A-1940-Jefferson-Proof-For-$2-By-Accident?



Let's hope for a nice high number.





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Edited by nss-52
08/16/2016 11:11 am
Valued Member
hoppyg's Avatar
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89 Posts
 Posted 08/16/2016  11:55 am  Show Profile   Bookmark this reply Add hoppyg to your friends list Get a Link to this Reply
Thanks guys :) This is the first coin I have sent for grading. The coin seems to my amateur eye to be in nice condition. What are your all thoughts about the toning? Do you think it will hurt the grade? The owner at the LCS said the toning is from the original mint packaging. The coins at the time were basically packaged in cardboard. He believes the coin was in the original packaging for several years with the level of toning on the coin.
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acloco's Avatar
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 Posted 08/16/2016  5:50 pm  Show Profile   Bookmark this reply Add acloco to your friends list Get a Link to this Reply
Believe it or not, I would actually ask if conservation service would be useful on this proof. ....and I HATE coins that have been messed with.
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coop's Avatar
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 Posted 08/16/2016  6:57 pm  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
When the surface is disturbed to remove the haze, then the mint surface will be gone. Gone the mirror finish. Gone the look of being a mint proof. Then it is an impaired proof coin. You can see the value take a big drop.
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hoppyg's Avatar
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89 Posts
 Posted 08/16/2016  7:01 pm  Show Profile   Bookmark this reply Add hoppyg to your friends list Get a Link to this Reply
Acloco, I heard NGC has a company called NCS that can provide the service. I plan on keeping the coin, and if there is a safe way to help with the toning, I think that is something I would be interested in. I have already sent the coin off through a free service my LCS offers (the LCS does not charge additional fees). What is the best way to contact NGC and ask for their recommendation? Does the LCS have to contact NGC sense the shop submitted the coin for me? Sorry for the ignorance.
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