I guess it would help to mention how I came up with my price estimate: I've watched 2 or 3 sell on eBay recently, I purchased one in an NGC AU-58 holder at a local show, I'm considering another in an EF-40 holder from a local show, and I've seen other raw examples in the F-XF range for sale at shows within the last 6 months. Plus Jeffersons are my specialty. I'm pretty sure we're in the right ballpark on this one.
Just from a quick look specimens in the AU through High mint state examples come to auction fairly regular. I found some AU 58 that recently sold for $60-80.00 As you may know, some coins are more scarce in the lower grades than one would perceive. So, if that is the case with this issue, a firm VF price may be warranted, in this case roughly $75.00..
I concur with the $50-$75 price range for the coin in question after searching Heritage's auction archives. This is a PCGS F15 that sold for $54 in 2008 http://coins.ha.com/common/view_item.php?Sale_No=68101&Lot_No=61621 This is a PCGS VF20 that sold for $92 in 2008 http://coins.ha.com/common/view_item.php?Sale_No=1117&Lot_No=7442 This is a PCGS VF20 that sold for $115 in 2008 http://coins.ha.com/common/view_item.php?Sale_No=455&Lot_No=7921 The prices realized for the ANACS coins is much less. This VF20 sold for $63 in 2005. http://coins.ha.com/common/view_item.php?Sale_No=25053&Lot_No=13129 There is no way you are going to get the same bids on a raw coin as a PCGS coin. If the coin was found raw and not purchased, I think it might be wise to have the coin authenticated and graded by PCGS. The grading cost will be absorbed by the additional revenue generated by the plastic and it will ensure the liquidity of the coin. Jeffersons are my specialty as well and I concur with Borgovan's opinions about the coin value. If the coin goes up for auction, I would also like to know the auction number! I need one for my dansco.