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

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Author	Replies: 15 / Views: 1,202
Dearborn Moderator United States 95740 Posts	Posted 06/23/2021 08:05 am 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 7070 type set coin count: 51/76 Uncirculated American Silver Eagles My American Silver Eagle Proof Collection Sacagawea Dollars Innovation Dollars Eisenhower-Dollars Kennedy-Half Dollars Washington-Quarters Roosevelt-Dimes Buffalo-Nickels 1938-2005 Jefferson-Nickels Lincoln-Cents Report this Post to the Staff

td5173 Pillar of the Community United States 565 Posts	Posted 06/23/2021 08:30 am 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. Report this Post to the Staff
John1 Moderator United States 56855 Posts	Posted 06/23/2021 09:53 am 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 Edited by John1 06/23/2021 10:15 am Report this Post to the Staff
ijn1944 Bedrock of the Community United States 19150 Posts	Posted 06/23/2021 10:19 am 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. Report this Post to the Staff
coop Bedrock of the Community United States 62064 Posts	Posted 06/23/2021 11:13 am 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. Report this Post to the Staff
Dearborn Moderator United States 95740 Posts	Posted 06/23/2021 12:29 pm 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 7070 type set coin count: 51/76 Uncirculated American Silver Eagles My American Silver Eagle Proof Collection Sacagawea Dollars Innovation Dollars Eisenhower-Dollars Kennedy-Half Dollars Washington-Quarters Roosevelt-Dimes Buffalo-Nickels 1938-2005 Jefferson-Nickels Lincoln-Cents Edited by Dearborn 06/23/2021 12:39 pm Report this Post to the Staff
iontyre Valued Member United States 269 Posts	Posted 06/23/2021 12:35 pm 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... Report this Post to the Staff
GrapeCollects Pillar of the Community United States 8938 Posts	Posted 06/23/2021 12:39 pm 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. Report this Post to the Staff
Dearborn Moderator United States 95740 Posts	Posted 06/23/2021 12:47 pm 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 7070 type set coin count: 51/76 Uncirculated American Silver Eagles My American Silver Eagle Proof Collection Sacagawea Dollars Innovation Dollars Eisenhower-Dollars Kennedy-Half Dollars Washington-Quarters Roosevelt-Dimes Buffalo-Nickels 1938-2005 Jefferson-Nickels Lincoln-Cents Edited by Dearborn 06/23/2021 12:52 pm Report this Post to the Staff
GrapeCollects Pillar of the Community United States 8938 Posts	Posted 06/23/2021 1:23 pm 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. Report this Post to the Staff
Zurie Pillar of the Community United States 5668 Posts	Posted 06/23/2021 1:34 pm 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. Report this Post to the Staff
Dearborn Moderator United States 95740 Posts	Posted 06/23/2021 4:24 pm 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 7070 type set coin count: 51/76 Uncirculated American Silver Eagles My American Silver Eagle Proof Collection Sacagawea Dollars Innovation Dollars Eisenhower-Dollars Kennedy-Half Dollars Washington-Quarters Roosevelt-Dimes Buffalo-Nickels 1938-2005 Jefferson-Nickels Lincoln-Cents Report this Post to the Staff
Dearborn Moderator United States 95740 Posts	Posted 06/23/2021 4:28 pm 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 7070 type set coin count: 51/76 Uncirculated American Silver Eagles My American Silver Eagle Proof Collection Sacagawea Dollars Innovation Dollars Eisenhower-Dollars Kennedy-Half Dollars Washington-Quarters Roosevelt-Dimes Buffalo-Nickels 1938-2005 Jefferson-Nickels Lincoln-Cents Edited by Dearborn 06/23/2021 4:30 pm Report this Post to the Staff
Zurie Pillar of the Community United States 5668 Posts	Posted 06/23/2021 4:40 pm 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. Report this Post to the Staff
Dearborn Moderator United States 95740 Posts	Posted 06/23/2021 4:50 pm 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 7070 type set coin count: 51/76 Uncirculated American Silver Eagles My American Silver Eagle Proof Collection Sacagawea Dollars Innovation Dollars Eisenhower-Dollars Kennedy-Half Dollars Washington-Quarters Roosevelt-Dimes Buffalo-Nickels 1938-2005 Jefferson-Nickels Lincoln-Cents Report this Post to the Staff
GrapeCollects Pillar of the Community United States 8938 Posts	Posted 06/23/2021 4:52 pm 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. Report this Post to the Staff
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