Hi, Could anyone advise me please if it is better to try and sell this coin as one that has been graded or would it be better to sell it as is? Many thanks
MANY of them have cracked dies. In fact, I would hazard that a specimen without a cracked die is worth more. Nickel is tough. We were one of the first countries on earth to strike coins with it. Three different rules in ancient Bactria for some reason tried it about 150 BC, and not one else attempted it until the mid 19th century. Dies cracked horribly. For your coin, I do not see how a slab would add enough value to justify its price.
Thanks Medor for the advice it is very much appreciated. So my 1868 nickel with no rays and no die cracks wouldn't be worth slabbing either?
Or my 4 legged buffalo 1937 nickel for that matter? I'll put them on ebay and get rid of them there. Thanks again any way.
Hi Guys, Help me to understand please. According to PCGS Coinfacts it says that a shield nickel, type 2, no rays 1868 5C, grade MS67 realised a price of $7,638 at auction in 2014. The dilemma is that I don't understand how that stacks up? How a 1868 nickel isn't worth grading and slabbing if there's a possibility that it's an MS67 also, and it actually gets that grading. Surely that would mean that it is worth slabbing, especially if it sells for a similar price? I'm not trying to be controversial here but from my limited experience so far as an amateur coin enthusiast, it seems that there is a big disparity between collectors and sellers about the worth of such coins. Is there something I am missing? Are there different factions between coin collectors?
I also completely agree that there were huge problems minting coins during this era. Very much in the pioneer spirit though problems were identified and then improved upon. My understanding of the problem with the 1868 nickel was that the intricacies of the design with the rays meant more metal to be displaced than the tolerances of the dies could handle which resulted in mechanical failure. Once they were modified however to exclude the rays, it more or less solved the problem. Clever stuff really.
You need to understand grading is critical in pricing. A MS67 will sell for hundreds or thousands of times more than a Good example. Your first coin posted was circulated, maybe XF. Nice coin, but not even in the ballpark of a MS67. Very, very few of these survive in such condition, hence the price.
Hi Medor, Thanks for your reply. I get it that grading is critical in pricing. For some reason however, I was under the impression that the rule of thumb was that minting errors were in a category of their own and that the grade of the coin was more or less a moot subject, if the minting error was of greater significance. I am led to believe this is indeed the case with other US minted coins across the years. I take your point wholeheartedly though, that that aside the coin definitely isn't up to snuff to get anywhere close to an MS67. I do however have a 1868 nickel type 2 which I would be prepared to take my chances on to achieve a high enough grade, and that is where my confusion stemmed from.
Thanks Collecting! Thank you for the further clarification also. I really am enjoying learning from everybody that has contributed to the thread.
Welcome to CT @DoubleDiamond. At first glance, it almost looked like a die clash on the obverse, but I guess not. (http://www.shieldnickels.net/clashOverlays/clashOverlays.html) As others have stated, your coin is nowhere near MS state and therefore in my opinion wouldn't be worth the money to have it slabbed. Just MHO.
Thanks Mountain, Great to be here. Thank you also for the information about die clashes, I'm avidly reading the page of the link you sent. Yes it's nowhere near a MS, that we can all agree on
