stunning 1941 D Jefferson on Ebay - someone here?

Look at the slab number!

 

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Okay, so I have held off throwing my two cent....err five cents in because like everyone else I share similar views but since the coin is now at $1,000 and the reserve is still not met I thought I should say some things.

First off, Lehigh96 has a 1941-D MS67 * 5FS that is a better example of toning than the pictures from this e-bay auction (having seen former pictures of this coin it appears to be a little juiced in it's current photos). According to Lehigh96's comments on his coin and the link to the actual Heritage Auction from where he bought his with 5FS a little over 3 years ago, he paid $920 (includes the Buyer's Premium). Regardless of which coin I think looks better and since they both have "star" rating associated with them, based upon the slab grade (not necessarily the coin) and it being given a 6FS designation it is conceivable that this coin could fetch $1500+ again. However since this coin has changed hands quite a bit recently, I am guessing the reserve will be around $1500 and that reserve will not be met.

Now let's discuss the coin. Without seeing the coin in hand I find it inconclusive as to whether this coin warrants the 6FS grading or not. I agree their is a nick at the 3rd step under the first pillar cutting diagonally two steps below but according to Nagengast "Any bagmarks in the step area, usually showing as nicks and abrasions, must not be deep enough to cut all the way into the depressions between the steps.". So in my opinion, under higher magnification the NGC might have determined that this nick was not deep enough.

Someone also mentioned the step blending beginning just under the base of the second pillar and continuing through the third pillar. To me it appears the top of the reverse of the nickel is tilted back a little. This coin is not flat and therefore it is possible that the tilt at the top is not allowing the top step to properly block the light from going into the depression to show whether or not this top step is well defined. It is equally possible that the steps are blended as stated but without having the coin in hand I think it is impossible to properly evaluate the steps on this coin. It is obvious this coin was pictured to show off or portray more vibrant toning than one would see normally rather than the finer details.

In my opinion (some others on this site would agree) the NGC tends to be more strict on which Jefferson nickels are given 5FS or 6FS grade. So, without looking at this coin up close myself, I would (for the time being at least) have to side with NGC and agree with the grade unless someday I am able to see the coin in hand to determine otherwise.

Regardless of how much toning is actually present I find this coin to be quite lovely from a detail perspective. It is nice to see most of the side-steps present at the right of the reverse and what may be all of the steps at the left of the reverse. As a bargain hunter myself, it is because of that "star" grade that makes me stay away from Jefferson nickels like this because it is simply WAY, WAY, WAY out of my budget. So, unless I win the lotto I can only hope that with a little patience and luck I can find one without a "star" grade in the $200 or less range someday. If that happens, I will be a very happy man!

Raul

 

over $1,000 and the reserve is not met.


Silly money

 

brg5658 - nice research! I could definitely see paying $399 for this coin! I could see whay though as the pictures look like the coin is just covered in a nasty film or something. Beyond that I don't think I could do it, but it is still very pretty! Definitely seems like the pictures are juiced a bit. I could see paying a good chunk for it if I had a collection like Lehigh's but may be a bit much for my circulated Jeffersons book

 

Wow, good research guys. I too would stay away just because of the price. I mean, it is a little too much for the coin itself. Then again, I do understand that people buy what they like. Pictures do sell coins.

 

Im like you , I seen the colors and nothing else. It is a beautiful coin and it really doesn't suprise me that it is going for so much, I seen a Nickel with blue tonning go for over $500 and couldn't beleave it but understood why it did.

 

If you are into the " Wow " factor, this coin is right there. While I don't agree with much of the " Silly Money " some folks pay for coins with that " Wow Color " , it's very common to see bids 10x or 20x the wholesale price, for similar " Wow " coins.

This Coin however in my opinion, is misattributed and generously graded. That said, I can see how some might throw $1,300 at this piece, but certainly not me.

 

Well the WOW factor must not have done it for him - available now for the low low price of $1501, buy it now!

http://www.ebay.com/itm/ws/eBayISAPI.dll?ViewItem&item=190576216708&ssPageName=ADME:B:WNARL:US:1123

 

Thanks for the heads up on the journey of this crazy coin! As brg5658 had said previously, this guy is most likely suffering from buyers remorse.

Just as I had thought and posted earlier that the Reserve was most likely $1500 and it would not be met before it ended as I had expected (got up to $1025). I sort of feel bad for this guy because he will most likely take a loss considering what he will lose on the e-bay sale even it someone buys it for $1501.

....but what if?

Is there a sinister plan this person might have been trying to hatch. What if the guy who bought it for $399 is using a second e-bay account and if the same guy who bought it at $1500 and is now trying to sell it. Basically he would have had to have sold it to himself for $1500. Sure he loses money to e-bay for listing ($0-$2) and final value fees ($100) for a grand total of $102. He would now be in on the investment for $399 +$102 which is $501. However he has now convinced the coin community that this coin can fetch $1500 which has obvious advantages. However the conspiracy theorist in me digresses.

....but this is most likely buyer's remorse.

I still think the value is over $1100 but we will see what happens next I guess!

Raul

 

It will be interesting to see if a buyer steps up at that price.

 

I will quietly step away, and leave room for someone to step up. For that kind of money, I can have a LOT of really nice coins...

 

Don't misunderstand my comment. Seemingly, this is a superb looking coin. That said, in hand there could very well be proof that the photo was digitally enhanced to mis-lead potential bidders/buyers. It's odd that this piece has changed ownership's multiple times within a relatively short period of time, indicating the coin could very well be over-graded and mis-attributed as well.

 

I agree with you Shoewrecky. I think it's too much for just a nickel. What kind of investment would a toned nickel from NGC truly be? I think investing in straight junk silver would give you a higher return in 5 years than that one nickel. Obviously, whomever was selling it was a victim of its sheer eye appeal and not its true actual value.

 

I could not disagree more. First of all, it's not just any nickel.

 

Yes its just a nickel. Not even a key date or anything else worth mentioning other than it has great eye appeal and looks pretty. If you took $1500 and applied it to silver in 5 years you'd definately have a higher return than a coin with a 53,000,000 mintage. Even the vast ebay community agrees with the reserve not being met.

 

I agree. The market set its true maximum value at around $1000 in a true eBay auction. And even that amount is likely higher than it's really "worth" given that it had a reserve and part of the upping of bids was in a feeble attempt to bust through the Reserve Price.

The coin sold initially for around $399.

The coin sold again 1 week later for $1500 Buy It Now (non-auction) when there was also a "Make Offer" button that was not used. I happen to know that the dealer of this sale (captivating coins) almost always takes 50% of his BIN price, so it could have been had for around $800 or so.

The coin is listed again as an auction, and the auction ends without meeting the reserve at over $1000.

The coin is now listed for BUY IT NOW at $1501.

ALL of this commotion in less than 4 weeks...this smells odd to me. There is a 1941-D PCGS MS67FS listed for $198 Buy it now on the BAY right now. Anyone who alternatively pays sky money for a little colorful tarnish has got a screw loose in my opinion!

To each his/her own I guess....

 

bravo!

 

The value of this coin is in NGC grade and the rarity of this grade amongst the 53,000,000 minted is what makes it valuable. The more normal pictures I have seen of this coin still have eye appeal but I have seen similarly graded coins with better eye appeal but their is a value in the look of this coin as well. More importantly for someone who is trying to compete for a top registry set that includes this coin and has the money and means to do so, it easy to see how or why someone would be willing to pay over $1000.

Regardless of what might have been done to the pictures of the coin to juice the toning, the facts are that this coin is in Mint State 67, has received a star grade and is even rarer since it has all 6 steps as recognized by the NGC. It is this rating that also stirs the debate as some have mentioned they disagree with the grade given or the full step designation. As mentioned before a registry collector's set is based upon the grades given by the most recognized TPG's, which stirs a second debate as to whether you are buying the coin or the graded slab.

Either way, unless a hoard of toned 1941-D Jefferson Nickels in MS68 with 6FS are found and graded in the next 5 years making this grade less rare, I think this coin holds it's value better than silver over the next 5 years in my personal opinion. I believe silver prices are in a bubble waiting to burst. Silver prices are high because of a weak dollar and global insecurity as we saw in the late 70's / early 80's and history has shown that silver has large spikes in price in times of uncertainty unlike gold which tends to have occasional spikes in value but an overall steady growth.

So if I had $1501 and was forced to buy either this coin or silver....I would buy this coin for the reasons I discussed before. As I said previously, toned coins are not my cup of tea so this is not where I would put my money. I would rather buy many full step high grade Jefferson nickels instead since that is my personal preference and it reflects what I collect. I love full step nickels but at this point in my life I cannot go for coins like this one but I can and will admire it.

Raul

 

Is the coin in question worth the asking price ? Personally I would have serious reservations promoting that, not having seen the coin in hand. . Superb Eye Appeal is but one aspect that Buyers look for when purchasing coins, either for their personal collection or for resale value by full-time or arm chair dealers. This Coin has it, and trust me I'm no fan of " Wow " factor coins. But to suggest this is just another one of the 33 graded specimens by NGC, key date or not, is severely under-appreciating the coins true attributes and perhaps another collector's insight for " Value " . As for your investment suggestion, I'd be careful on that limb your on.

 

Well put.