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Jefferson War Nickel, 1944-S, MS-67+

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JohnQPublic's Avatar
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 Posted 03/15/2026  02:38 am Show Profile   Bookmark this topic Add JohnQPublic to your friends list Get a Link to this Message Number of Subscribers
I posted this in an old thread, but got no response (maybe it is not of interest). Thought I would try a new, more relevant thread. Some of the commentary was to fit it into context of the old thread, but still helpful.

I just bought a slabbed War Nickel. The most common MS grades for a given year/mint tend to be MS66. MS 67s are pretty common. 67+ and 68 are where the most value is (this is where it becomes rare). I do not think there is anything available more than MS68. MS 66 Full stairs (FS) compete with say MS 67 non-FS. I bought an NGC M D Taylor Collection MS 67+ 1944-S (a good date/mint combination, but not FS) for a somewhat reasonable price- less than an MS 66 FS. I see MS-67 FS for 3-4 x the price. Even MS 66 FS is 1.25-1.5x. San Francisco had the fewest FS, Denver the most.

What are your thoughts on what is better- an MS 67+ non-FS (1944-S) vs. say an MS 65 or 66 with FS? It is not an easy question. I think the MS67+ non-FS is actually rarer than the lower grade FS, but many collectors want the FS (though the typical condition for 1944-S is actually non-FS). I am not second guessing my decision (I actually learned about a lot of this after I bought- I bought based on relative rarity of the condition independent of FS or not).
Edited by JohnQPublic
03/15/2026 02:54 am
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Marv65's Avatar
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 Posted 03/15/2026  03:27 am  Show Profile   Bookmark this reply Add Marv65 to your friends list Get a Link to this Reply

Quote:
What are your thoughts on what is better- an MS 67+ non-FS (1944-S) vs. say an MS 65 or 66 with FS?

Don't let the FS designation fool you - as it has been discussed on here many times - some times I/we don't agree with the TPG's designation of FS. Do not go by the label and go strictly by what your eyes see. That goes with the numerical grade also.
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nickelsearcher's Avatar
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 Posted 03/15/2026  07:28 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply

Quote:
I posted this in an old thread, but got no response (maybe it is not of interest).


Generally not a good idea to tag a new topic on top of an older thread - they tend to get less attention. People who already responded to the old thread (like me) do not go back to look for new input such as yours.

Marve65 speaks the truth, the TPG are notorious for inconsistent application of the FS designation on Jefferson nickels. You simply cannot rely upon the slab alone.

That said - why not pursue both high technical grade and FS at the same time? IMO that is the best long term value combination.

Over a period of about 5 years I was able to assemble a top-10 PCGS Registry set of Jefferson War Nickels by personally examining and selecting each coin from dealers stock at shows.

Each coin met my personal standards for grade, eye appeal and FS.

Here is the 1944-S from that set:

Jefferson-War-Nickel,-1944-S,-MS-67+


Jefferson-War-Nickel,-1944-S,-MS-67+

Great Collections eventually sold the 11 coin set for me at a nice profit from what I paid.
Take a look at my other hobby ... http://www.jk-dk.art
Edited by nickelsearcher
03/15/2026 08:06 am
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Ballyhoo's Avatar
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 Posted 03/15/2026  10:32 am  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
I looked at both NGC and PCGS populatition reports. What I found is somewhat surprising. You have one of 58, with 49 full step (5fs) in MS67- 13 being plus. Over at PCGS, there are 96 at MS67+ and 98 (24+) in the same grade. Not much of a difference between the two designations. Over the years I've compared MS to fullstep from both graders and concluded that, in my opinion, NGC seems to be more strict on what gets that coveted designation. Even when factoring in that PCGS is the more prefered grader, the figures would appear to confirm this. Again, I've seen more questionable full step PCGS than NGC across the board. All that said, from a personal perspective, it all comes down to eye appeal.
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Edited by Ballyhoo
03/15/2026 10:33 am
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JohnQPublic's Avatar
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 Posted 03/15/2026  11:10 am  Show Profile   Bookmark this reply Add JohnQPublic to your friends list Get a Link to this Reply
Good discussion. This is some of what I am thinking. What I note, and @nickelsearcher's MS67FS is a good example, is that San Francisco in general had a weaker strike than P or especially D versions of the same year (say 1944) on the stairs, but also the entire facing side of the Jefferson Memorial (especially under the triangular roof vestibule). If your thing is FS, then I would look more for D or P examples, but I can understand if you want a complete set you need an S also. But even if the S is designated FS, the doors/windows on the front face of the Memorial are likely going to be weaker than D or P examples. The FS designation only covers part of the issue (San Francisco mint overall was producing a lesser example of the design than other mints), and that is part of what collecting coins is about- distinguishing not only between coin designs, but Mints, Periods (e.g., War Period- switch alloy), even dies if you want to get that detailed. Here is the coin I got, and for a 1944-S, I am pretty happy with it. I found the GC entry after I bought, and did pay an upscale, but it was reasonable. The center stairs in @nickelsearcher's 67FS are definitely better defined (not the left side set for instance), but the overall front section of the Memorial is similar to my 67+, and both are less defined than many Denver examples (or P). Regardless, I understand the idea of a premium for full stairs even on a 1944-S, but think for San Francisco in general (at least in 1944) it is actually less significant to the overall grade (and obviously the TPG feel the same).

Jefferson-War-Nickel,-1944-S,-MS-67+
Edited by JohnQPublic
03/15/2026 11:21 am
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Brandmeister's Avatar
United States
6449 Posts
 Posted 03/15/2026  12:15 pm  Show Profile   Check Brandmeister's eBay Listings Bookmark this reply Add Brandmeister to your friends list Get a Link to this Reply
In very high grades, I think you're talking registry coins. At that point, the superlative is worth more points. Given that War Nickels are available with good steps, I don't see a reason to compromise on Full Steps. From my casual observation, most of the high grade no-FS War Nickels seem to display various types of bright toning, which some people really appreciate.
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JohnQPublic's Avatar
United States
81 Posts
 Posted 03/15/2026  3:00 pm  Show Profile   Bookmark this reply Add JohnQPublic to your friends list Get a Link to this Reply
This one has nice light toning and a lot of original mint luster still.
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Dearborn's Avatar
United States
94636 Posts
 Posted 03/15/2026  4:15 pm  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply
Nice looking nickel - a new post will almost get more attention than posting to the bottom of an old one.
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