Appalachian Toned Jefferson Nickel--Green with Envy!

I would like to present my most recent acquisition: A 1944-D Appalachian Toned Jefferson Nickel NGC MS67. A wondrous coin with green toning dominating both sides of the coin.

Description: The coin displays shades of grass, emerald, turquoise, lavender, magenta, and yellow on both sides. However, the luster is a tad muted on the obverse which yields a rather subdued satin appearance while the reverse blazes away in lustrous vivid color. A strong strike in addition to the color carries the market graded coin to the MS67 level.



Another interesting thing about this coin is that it has been reholdered. All of the Appalachian Jeffersons were slabbed and awarded the "T" designation for the toning. Most of the Appalachians that have been reslabbed had the "T" designation removed and the star designation to replace it. For whatever reason, the graders at NGC decided that this coin was not worthy of a star designation. By Appalachian standards, the coin is tame, but spectacular by any other standard. It is possible that this is the only Appalachian without a designation.

Comments and opinions welcome!

 

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Fascinating beauty and description to boot! Why are they called Applachian? And the best question in my mind is how much does a beauty like that cost. No need for an exact amount, close enough would be fine.

 

First off, THAT is a pretty nickel. But what really gets me is the description. Talk about elaborate and overblown! Lol. I've done a bit of cataloging, but never with US coins. I can't imagine how those catalogers sit there all day, coming up with creative new ways to say "toned nickel." Its really impressive, in a way.

 

I know nothing about Jeffs, but that looks very attractive to me.

What is going on in the jaw line, Lehigh? Is that a pit with color emanating outward?

 

looks like a zit.

 

The story is that the coins were originally from an estate somewhere in the Appalachian mountains in 2000. The coins were submitted and sold by a well known toning specialist who later dropped his affiliation with the coins when the market began to suspect the coins were AT. Currently a large faction of the numismatic community believes these coins to be AT. However, due to the fact that they are encapsulated by NGC, the MS67 coins still routinely drive prices of $500-$1000. I know one respected dealer who has an Appalachian in his inventory (291240-008) for over $1,700.

 

That is my hobby within my hobby. I write all of my own coin descriptions. Feel free to read some in my registry set. My favorite is my 1944-P.

 

something this toned I'd like to see in hand

 

You wrote that? I suspected so when I first read it.

I take that as a fancy way of saying that you think the coin is technically only MS-66, but that the color kind of drove up the technical grading (which is a no-no, in my book.)

Please elucidate the subtle meaning in your description. Thanks!

 

You are right on my friend. The coin's surfaces are low end even for a NGC Jefferson. The hit in the left obverse field is the most bothersome but there are three other obvious marks on the obverse; one on the eyebrow, one on the jaw, and one on the collar. Typically, NGC will excuse one or two of these minor marks like this on an MS67. But three and a major mark in the field is pushing it. It seems pretty obvious that the coin was market graded due to the toning. I don't agree with the value grading aspect of market grading either, but I understand it. Without the toning, this coin is an MS66 all day long.

Another issue with the coin is that the luster is inconsistent from the obverse to the reverse. A satin obverse and lustrous reverse is really cool and unusual but not something sought after by collectors. Check out the photos taken by the seller. Do you think he made an attempt to enhance the obverse luster?



Regardless of some of these minor issues with the coin, it is extremely eye appealing. The reverse is absolutely stunning. Almost as nice as my other 1944-D Appalachian reverse. Here is a comparison photo of the reverses. Check out the certification numbers.

 

Nice coin, as far as the AJ hoard. Enjoy it in good health....Mike

p.s. what would that coin sell for in 67 without the toning. Said another way, what's the toning premium for this coin?

 

Being NGC, I wonder why not a 66* instead of 67....

Oh, that might be a pre-star slab, eh?

 

Great info Lehigh and nickels as well! I bet the description adds to the sale price as well, or at least the interest generated. I know when I read something written that well it certainly peaks my interest and viewing pleasure both. As far as the Appalachian listing and AT, I don't know but it's a really nice looking specimen either way. The pics are really super!!

 

There is little to no evidence that these pieces are anything but artificially toned, and only tradition keeps them from being valued less than the same grade nickels without toning.

Beautiful? Sure - but like breast implants, not near as impressive as the real thing. dd:

 

Yes!! I won't touch that one with a 10 ft poll!!

 

There is also very little evidence that these pieces are AT. When the Appalachians first hit the market, they drove prices between $200-$500. Then the AT accusation came and they disappeared from the market entirely for a while. When one hits the market now (and for the last 5 years), these coins have driven prices of $500-$1000. I don't know what tradition you are talking about that keeps the prices high. Last time I checked there is no tradition for paying premiums for AT coins. The only other possibilities are collectors who don't know, don't care, or are unconvinced that the AT allegations are true. I belong primarily in the group that doesn't care because they are stunningly beautiful. However, I own 6 of them and still can't tell if the toning is original or AT. In fact, I only own one that I really think is AT.

BTW, I don't pay the stripper less because she had breast augmentation surgery.

 

Would you pay the same price for an original antique versus one that's been restored?

Would you pay more for a original mint 1967 corvette rather than one that looks the same to most people but has been restored?

Would your wife prefer a diamond or a cubic zirconia?

If you had the choice between natural and fake breasts, would you choose the fake ones? On second thought, don't answer that one.

Socratically yours...Mike

 

I will answer the first three questions this way. If neither myself or any expert can definitively tell the difference between the two, then yes I would pay the same price.

Mike, have you ever seen an Appalachian in hand? Just curious!

 

In this particular case I paid 12X Numismedia Wholesale.

 

That's a great looking Nickel!

Artificially toned or not, I would be happy to have it in my collection!