Starting a FS Set

Hi all. I want to start a FS set graded by PCGS and was wondering if that was the best choice and what grade should I try and the coins in. Any suggestions would be a great help. :smile

Nickeldude

 

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my suggestion would be this. There are certain dates for which FS coins are unknown. Instead of collecting coins that have already been graded FS, why don't you start searching uncirculated nickels for FS coins of those dates.

The reasoning is two-fold: Whenever I decide to start a series, if I want to build a nice, matching grade set then I have to buy the keys in the best condition I can find, and match the rest of the set to them. Since some aren't even available, when you find the ones that don't exist yet, you will know what grade to match the rest of them to.

The second part of the reasoning is that maybe by learning what to look for in a coin that will grade FS, that you may decide that it is easier and a whole lot less expensive to assemble your set from raw coins and save yourself a ton of money. It is the rare coin that is undiscovered that is truly a bargain at it's price. It only becomes expensive after someone knows what it is.

just my 2¢,

mikenoodle

 

I personally think it's a good choice, as that's what I collect, but it's up to you. A FS set can be very expensive. Some of the coins in that set go for many thousands of dollars with FS. I don't know your budget, though.

Another thing to watch out for is FS slabs with coins inside that are not truly FS. This can be a costly mistake to make. Inspect the coins before purchasing if possible (or make sure there is an enforceable return policy if buying sight-unseen) and then make sure the steps meet your qualifications.

Good luck!

 

interesting idea.

 

Nickeldude,
I too collect FS Jefferson, as well as nice fully struck (non-FS) coins. I agree with the advice already provided. There are many ways to get started and meet your goal of putting together a nice PCGS graded set. As you will find, there are several dates that no FS coins exist and there are many others that very few exist. So, the grade of the coin becomes a function of what you can afford. As noted above, some will cost big bucks! Here are my tips for you as you get your set started:
1) Buy some books and study up a bit. "The Jefferson Nickel Analyst" by Bernard Nagengast (look for this one on ebay), "Jefferson Doubled Dies" by Wexler and/or "The Jefferson RPM Book" by Wiles.
2) Look and find nice raw examples. This will help you gage coins when you look at graded ones. Make sure you look at graded coins as well. The saying "buy the coin and not the holder" should be a rule never broken!
3) Look up prices paid and pictures of coins on ebay, Teletrade and some auction houses. This will help to learn some pricing on many dates especially the tougher coins.
4) Depending on your budget, buy a few of the tougher, lower population coins early on. The common date coins can be obtained pretty much any time.
5) While searching through dealer 2X2 coins, try to look for varieties. This is where you can hit some nice finds for little money. One more book to buy is the Cherry Pickers Guide. The 5th Edition was just released this month. These are fun to look for while seaching for those great full steppers.
And remember, enjoy and have fun!
Dowgie :thumb:

 

Thanks all. What would be some of those tougher dates to get in fs.

 

What is you definition of "Full Steps"?

I consider it to mean all 6 steps leading up to the porch on Monticello, and all 6 steps are full and unbroken.

There are several issues (date/mintmarks) that simply weren't struck that way.

The 1969-D is seldom seen with any step detail.

Your goal is unrealistic, and unreachable.

 

Nickeldude,

Have to agree with BigDowgies advvice.
I've been collecting Fullstep Jeffersons for over 25 years and still looking. But I search raw and have a limited budget. Have kind of gotten sidetracked into varieties but still look for fullsteps as I look for varieties.
"The Jefferson Nickel Analyst" by Bernard Nagengast will tell you the step rarity for each date and mint. Also the Official Red Book of Buffalo & Jefferson Nickels has the same info.
Good luck.

 

WOW, jody526, your step grading is pretty tough! I agree with the full and unbroken lines being required. However, to require all five step lines (or six steps) as your "full step" designation removes more than just a few early date coins from ever being considered "full step". But that is a discussion for another post.

Back to helping Nickeldude.
You will need to learn what "full step" means for PCGS. The Nagengast Book will help you understand how the steps are defined.

Some great dates to start with would be the 1938's and 1939's. These are the first two years and present some great challenges. A few will be easy and few will be tough!
1938 MS65FS, $80 to $100
1938-D MS65FS, $110 to $150
1938-S MS65FS, $200+
You have to be careful with the steps on the 1938's. They are wavy and less defined and are called "Reverse 38" steps, as there are 1939's with these steps and the newly detailed steps of 1940, or called "Reverse 40" steps.
There are 6 1939 coins, in my opinion, that need to be in your set. Each mint has the Reverse 38 and Reverse 40 steps.
1939 Rev38 Tough, MS64FS, 200+
1939 Rev40 MS66FS, $100 should be able to find a nice one!
1939-D and 1939-S both Rev38 and Rev40 are all tough. Buy what you can afford. MS64FS coins probably be in the $150 range and go up from there.

Just one place to start!
Enjoy
Dowgie

 

Thanks for all your help.

Nickeldude

 

Nickeldude,
You can get some info on the series on Speedy's web site as well www.varietynickels.com and more specific on FS counting http://varietynickels.com/pages/jefferson-nickel/grading/understanding-full-steps.php

 

i am beginign to think that not using FS for first spouse is a national tragedy :whistle:

 

Jody, the definition for what grades FS by TPGs like PCGS for dates before 1971 is that if a coin has 5 steps, it garners the FS designation. There are several dates for which the working hub only had 5 steps, so a 6 step complete date and mintmark collection may indeed be impossible, but most full step collectors will settle for 5 step coins in those cases.

I think that although you may have meant it constructively, to call someone's pursuit unrealistic and unreachable seems a bit cold and negative. I submit to you that (5) full step sets exist, but many of the coins are yet to be "discovered" as they are in rolls and mints sets. But then again, I tend to side with the dreamers often.

 

I have no intention of being "cold and negative", just realistic.
TPG's do not dictate my definitions, nor do their marketing terms confuse me.

 

True, that is why as a nickel collector I always preferred ANACS as a TPG they put 5, 5.5 or 6 full steps although in the last several years ANACS overall has gone down hill IMHO but always thought they did the Jefferson series the most justice.
The point is to collect the Nickels with the best strike and Steps and if 5 Steps is the best for the year then it is the best, weather to call it full step or not is moot.

 

This coming from a man who defends market grading coins... that's rich

 

I have nickleman's back on this one. We do not need to get into a debate on what constitutes "full steps". It should be up to you as a collector. The grading services provide the market with a full step designation that just happens to be 5 steps or the top 4 complete, unbroken lines (when they get it right!). What each individual collectors calls their coins is up to them. Remember, buy the coin, not the holder!
A response to mikenoodle comment, "This coming from a man who defends market grading coins... that's rich". I started off not liking encapuled coins, but over time have gained some appreciation. One of several reasons is to protect my investment in case something were to happen to me. My family wouldn't have a clue what some of this stuff is or is worth. Graded coins do not allow dealers the flexibility to rip folks off as they can do with raw coins.
Dowgie

 

dowgie:

trust me... nothing will stop some dealers from ripping people off, including your slabs. The fact that they are certified will do very little to increase an offer, it merely slows the debate between the dealer and a knowledgeabe collector. Bottom line: If a dealer is going to make a low-ball offer (as many will) then a slab will do very little to increase it. People need to learn to tell a dealer "No, thanks. I'll take a pass on your offer." Most dealers offer better advice as well as price when they think that the person they are dealing with is knowledgeable or is not going to let themselves be taken.

What all of this has to do with my comment is beyond me, but I welcome your opinion.