A very similar thing is happening now as did when the 1950 D nickel was produced. I don't know where it is mentioned, in a book or on the net, but the mintage of the 1950 D being very low was made known to the public at the time it was produced in 1950.
There was a lot of hoarding and demand for it, driving the price up. Speculation of holding UNC rolls danced in many a head. What happened was just what is happening to the 2009 P nickel as far as preservation of UNC coins goes.
Admit it, none of us are knowingly going to go spend a 2009 P nickel.
But with the internet, we get faster information on the market.
The 1950 D nickel had speculation and hoarding happen somewhat behind the scenes. Nobody really knew how many were being tucked away, but nobody was hardly spending them either.
The prices for a 1950 D soared, I think to well over $50.00 a coin at some point. Take into consideration that inflation makes that a whole lot more than fifty bucks today.
It stayed up high in value for quite a long time. The result was most were preserved in UNC.
After prices began to drop and the news was old, I think some of them started to get turned in for cash by those who didn't know what they had. Kids, kids who stole them from Dad, kids who
inherited them from Dad, and just plain boo boos by people had many trickle into circulation.
Interest in the Jefferson was nearly nil so they continued to circulate without notice. This is why we see many UNCs and the rest are in the same condition as a lot of other 1950's & 1960's nickels.
For a couple decades the 1950 D in UNC remained at a value of 8 to 10 bucks circulated or not, there was little difference.
Now we have the Internet, within a few months we have seen what taken the 1950 D years to do price wise is already happened for the 2009 P nickel. As of today, you can get one for under $5.00 where they opened up selling for close to $80.00 when first discovered in original bank rolls just about a couple months ago.
There are far more 2009 P nickels that will be preserved in UNC than the 1950 D was saved in.
The same thing will most likely repeat itself for the 2009 D. I expect the same will happen next year and maybe the following as well.
There just isn't 25,000,000
Jefferson nickel collectors out there. This is a new series too.
The demand will wane, the prices will drop.
Now MS69 and MS70 2009 nickels will demand some decent premium, but I don't think there is any investor potential in this coin. I'd put my money on the highest mint state 1950 D PCGS NGC and ANAC graded 1950 D nickels any day.
Posted 07/09/2009 10:38 am
