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Can Someone Please Explain This 'Error? 1940 Jefferson Nickel Proof

 
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Author Previous TopicReplies: 15 / Views: 383Next Topic  
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 Posted 06/23/2021  08:05 am Show Profile   Bookmark this topic Add Dearborn to your friends list Get a Link to this Message
I would think that a coin of a certain year (lets say 1940 and a proof nickel) that has a reverse device of a 1940 proof nickel, that it would NOT be an anomaly but just a standard 1940 Proof nickel.

How does one explain this graded NGC coin and subsequent sellers justification of $1800.00 for it?

1940 PROOF Jefferson nickel 5C REVERSE OF 1940 NGC & CAC PF 67+
eBay item number:133647731672
Collecting since 1972. Learning from then on
"Tell me and I forget. Teach me and I remember. Involve me and I learn." -Benjamin Franklin
My Dansco 7070 type set coin count: 31/76
My Dansco 8176 Eisenhower dollar Album coin count: 36/36, My Dansco 8166,8167 Kennedy half dollar Album coin count: 198/198
My Dansco 8140,8143-8147 Washington quarter Albums coin count: 423/423
My Dansco 8113,8114 Jefferson nickel Albums coin count: not sure yet
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 Posted 06/23/2021  08:30 am  Show Profile   Bookmark this reply Add td5173 to your friends list Get a Link to this Reply
Darn good question. Is slabbing starting to out of hand? Maybe it was a different 40 for the business strike coins. It could be a 40 reverse another 40 reverse for another 40 reverse.
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 Posted 06/23/2021  09:53 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
The seller can ask what ever they want and a buyer will pay what they are willing to pay,buyer beware. Nickels are not my area, but maybe it has to do with mintage figures, strong strike, condition rarity? No where does it say it is an error,it actually has the correct reverse for the year.It also has a CAC sticker.
John1
( I'm no pro, it's just my humble opinion )
Searched 6.5 +/- Million Cents Since 1971
Edited by John1
06/23/2021 10:15 am
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 Posted 06/23/2021  10:19 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
I agree with John1--sellers can ask what they want and buyers are free to pay what they're willing to pay. The market is the market--warts and all.
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 Posted 06/23/2021  11:13 am  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
All of PCGS proof reverses say the same thing:
https://www.PCGS.com/cert/37846214
High price for cameo
https://www.PCGS.com/cert/13937929
High price for a normal proof also.

Richard S. Cooper
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 Posted 06/23/2021  12:29 pm  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply

Quote:
All of PCGS proof reverses say the same thing:


how does that explain the NGC 1940 graded nickel I brought up?

As for PCGS I have a 1951 and a 1942 Jefferson nickel proof slabbed coin that does not say that

https://www.PCGS.com/cert/33825174


https://www.PCGS.com/cert/41261286

Collecting since 1972. Learning from then on
"Tell me and I forget. Teach me and I remember. Involve me and I learn." -Benjamin Franklin
My Dansco 7070 type set coin count: 31/76
My Dansco 8176 Eisenhower dollar Album coin count: 36/36, My Dansco 8166,8167 Kennedy half dollar Album coin count: 198/198
My Dansco 8140,8143-8147 Washington quarter Albums coin count: 423/423
My Dansco 8113,8114 Jefferson nickel Albums coin count: not sure yet
Edited by Dearborn
06/23/2021 12:39 pm
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 Posted 06/23/2021  12:35 pm  Show Profile   Bookmark this reply Add iontyre to your friends list Get a Link to this Reply
1938 Jefferson nickels did have a different reverse (steps are wavy and less distinct) than the reverse released in 1939 and subsequent years. There are 1939 nickels with both versions of the reverse. I am not sure that also exists for 1940, so not sure what NGC is doing here...
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 Posted 06/23/2021  12:39 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
That's a pretty fair price.

To clarify as to the 'error' there were 2 different reverse dies used to strike 1940 dated proof Jefferson nickels.

One die had the reverse design of 1938 and the other dies had the normal reverse of 1940. Examples with CAC are even scarcer. In addition, this coin has better than average frosting on the devices.

All in all the coin is priced fairly IMO.

The 1940 Reverse of 1938 is quite scarce and more desirable, so NGC simply labeling the coin Reverse of 1940 is just to make clear which this coin is.

This isn't slabbing getting out of control, this is why it is a thing. It protects uninformed buyers from being ripped off from a seller claiming their coin is something it isn't.

As for the price, PR-67+ is a rather scarce grade with a pop of 39/17 combined PCGS and NGC.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
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If you want to buy something or sell something or just talk, shoot me a PM!
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 Posted 06/23/2021  12:47 pm  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply
OK, that makes sense, Grape. However if the much more rare 1940obv/1938rev is labeled correctly then I can see the price as stated. But a normal 1940/1940 labeled as such just to make clear that is is NOT the 1940/1938 error, I cannot see such an extravagant price. To me normal is normal....


Edit; to note, I only used the 'error' phrase to indicate that the grading service is indicating something special and not necessarily an error coin. Just a bad choice of wording on my part...
Collecting since 1972. Learning from then on
"Tell me and I forget. Teach me and I remember. Involve me and I learn." -Benjamin Franklin
My Dansco 7070 type set coin count: 31/76
My Dansco 8176 Eisenhower dollar Album coin count: 36/36, My Dansco 8166,8167 Kennedy half dollar Album coin count: 198/198
My Dansco 8140,8143-8147 Washington quarter Albums coin count: 423/423
My Dansco 8113,8114 Jefferson nickel Albums coin count: not sure yet
Edited by Dearborn
06/23/2021 12:52 pm
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 Posted 06/23/2021  1:23 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply

Quote:
I cannot see such an extravagant price


Reread my reply. The price is because of the grade and the BTA Cameo.

In Proof-67+ it is pop 39/17, which is not a lot, and even less have CAC stickers, and even less of those have nicer cameo surfaces. That's why the price is as high as it is.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
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 Posted 06/23/2021  1:34 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply


The high price is due to the grade. The reverse of 40 is the more common proof variety, but the asking price is not much more than what 1940 PF67+ graded coins have sold for in the past.
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 Posted 06/23/2021  4:24 pm  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply
Ah! ok.. I see...
Collecting since 1972. Learning from then on
"Tell me and I forget. Teach me and I remember. Involve me and I learn." -Benjamin Franklin
My Dansco 7070 type set coin count: 31/76
My Dansco 8176 Eisenhower dollar Album coin count: 36/36, My Dansco 8166,8167 Kennedy half dollar Album coin count: 198/198
My Dansco 8140,8143-8147 Washington quarter Albums coin count: 423/423
My Dansco 8113,8114 Jefferson nickel Albums coin count: not sure yet
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United States
2339 Posts
 Posted 06/23/2021  4:28 pm  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply
So, Going by what was said up above, this 1940 Jeff Nickel is a steal then. It has the same grade and CAC sticker but graded by PCGS:
EDIT: BUT it does not have the same shine or cameo as the first one.. so maybe the price is right?
eBay item number:114687155477
Collecting since 1972. Learning from then on
"Tell me and I forget. Teach me and I remember. Involve me and I learn." -Benjamin Franklin
My Dansco 7070 type set coin count: 31/76
My Dansco 8176 Eisenhower dollar Album coin count: 36/36, My Dansco 8166,8167 Kennedy half dollar Album coin count: 198/198
My Dansco 8140,8143-8147 Washington quarter Albums coin count: 423/423
My Dansco 8113,8114 Jefferson nickel Albums coin count: not sure yet
Edited by Dearborn
06/23/2021 4:30 pm
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 Posted 06/23/2021  4:40 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
The PCGS coin is a PR67, not a PF67+, and it doesn't have nearly the eye appeal of the NGC coin. That being said, pricing for scarce coins in high grades is extremely variable, and as @ijn1944 indicated, the value is what a seller and buyer agree to.
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 Posted 06/23/2021  4:50 pm  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply
ha! silly me.. I saw the '+' sign and focused on that... my mistake..

sometimes my brain will not kick in like it is supposed to...
Collecting since 1972. Learning from then on
"Tell me and I forget. Teach me and I remember. Involve me and I learn." -Benjamin Franklin
My Dansco 7070 type set coin count: 31/76
My Dansco 8176 Eisenhower dollar Album coin count: 36/36, My Dansco 8166,8167 Kennedy half dollar Album coin count: 198/198
My Dansco 8140,8143-8147 Washington quarter Albums coin count: 423/423
My Dansco 8113,8114 Jefferson nickel Albums coin count: not sure yet
Pillar of the Community
Learn More...
United States
8761 Posts
 Posted 06/23/2021  4:52 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply

Quote:
BUT it does not have the same shine or cameo as the first one.. so maybe the price is right?


As Zurie stated, the difference comes to the . A half point in grade can make a massive difference in price. The second coin you linked also has much poorer eye appeal as it is brilliant, not cameo.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
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