I need some opinions on whether or not my nickel has full steps. Coin does have most if not all original mint luster intact even if it doesn't look like it in the pictures. Could this be an MS worthy coin even without the full steps designation?
Sorry but not even close. There are too many dings and scratches. Even one would eliminate it from being full steps. Also not a MS, it has been circulated.
Well then I guess I am a little confused as to how to cherry pick coins from pocket change. How are there circulated coins that are considered mint state in some years but not in others?
Mint state coins can appear in all (recent) years. I go through a large number of rolls--customer wrapped and commercially wrapped. Have been doing this for decades. Just yesterday I found a MS62-63 1986 D cent in a customer wrapped roll. Very likely the coin--when new--avoided nearly all circulation once it came out of a roll back in '86-87.
Searching pocket change is what it is--low volume, sporadic. Searching a large number coins (via rolls) over an extended period of time is the way to go.
Full Steps nickels must grade Mint State-60 or better. That means the old Jefferson nickel you found in pocket change that "looks almost perfect" simply can't be a Full Steps nickel.
The Full Steps grading designation only applies to uncirculated Jefferson nickels. Proof Jefferson nickels characteristically have Full Steps details — because they are specially struck to help bring up even the most minute of details.
If you do have a Jefferson nickel that's in uncirculated condition and appears to have Full Steps details on first glance, then take a closer look with a 5X magnifying glass. There must be at least 5 full steps visible near the base of Monticello AND each of the steps must be distinct and full, unbroken, and show no signs of weakness or contact marks.
Because of all the qualifications required for a Jefferson nickel to be considered Full Steps, such pieces are generally scarce. Many are rare. And some dates have absolutely no known Full Steps examples at all!
There are varieties and errors also such as finding those in a inexpensive book such as strike it rich with pocket change 5th edition which tells you what to look for. Some coins may have value without being in mint state, called key dates. If you have no idea, you can start at a price guide like https://www.PCGS.com/prices but those are graded pricing to at least see which coins have some value. Note that many modern coins generally are only valuable in the highest grades and unlikely to be found in pocket change.
If a coin shows any circulation friction, it cannot be graded as Mint State. Finding an uncirculated coin in pocket change is close to impossible. Since a Jefferson nickel must be MS-60 or better to qualify for the Full Steps designation, coins found in circulation can be all but excluded from the FS search.
The term "Cherry Picking" isn't usually used when a uncirculated coin is found, but when you spot a variety or valuable error on a coin that isn't accounted for in the description of the coin or is unknown to the owner, that's when the term applies.
Here's a video from PCGS with the details of a Full Step Jefferson nickel. Full Step information starts at about the 1:00 minute mark.
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