1950 D Jefferson Nickel

I wouldn't unless it was a very choice example...but like it or not this is one of the "major key coins" of the Jefferson series. They only minted 2.6 million of them, but everyone knew at the time it would be a very low mintage so many were saved because people thought they would be worth a fortune someday. Today, they exist in huge numbers in BU.

 

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I know this already. I wasn't originally asking how rare they are or how hard they are to obtain, I was just probing opinions on this particular one I had an interest in.

I seldom buy on eBay but this one caught my attention. It appeared to be good quality I liked or could live with along with a decent price. There are plenty out there on eBay right now but the slabbed one's start too high for the most part and most of the others just didn't grab my attention, a lot had poor pictures or no close ups to see more details, a large portion of the raw ones looked like they had been cleaned or polished as well. The dollar shipping I felt was reasonable as well.

I already said if he finds one he's willing to part with I might be interested. Having more than one doesn't hurt.

 

Everyone or collectors? I doubt most of the general population cared about the mintage numbers of coins then and now. Most of the general population likely don't even know 50 cent coins exist or we had/have 2 dollar bills so I doubt people in 1950, non-collectors that is, knew to hoard their nickels dated 1950 according to mintage numbers.

 

From what I have read, it became fairly well known among the general public which resulted in general hoarding of the coin. This is why it is so common in high grade today. They actually seen harder to find circulated than BU.

 

I'll definitely confirm once I get it and if the seller was correct in saying 5.5 steps. Hard to tell by the picture, I can count possibly 5 steps from the provided pictures, just not sure since it's apparently behind the plastic sheet in the 2x2 foldover most likely.

 

The only thing I can find in reference to the hoarding is collectors hoarded them, not your average Joe Schmo hoarding nickels. As example, Wikipedia says: "While some argue that the 1950-D nickel is readily available (because collectors hoarded them due to the announced low mintage), the 1950-D still commands relatively significant prices, especially if highly graded by a reputable grading service"

I just don't buy most middle to lower income families in 1950 (even if they were aware of the low mintage numbers) hoarding nickels, when a nickel was actually worth a whole lot more and could buy a whole lot more than nowadays. I mean, the average median income in 1950 is reported to be around $3000 a year. I can accept collectors certainly hoarded nickels, but not Joe down the street who's trying to make ends meet. I mean there might have been some exceptions to the hoarding by regular folks but probably not as wide scaled.

 

I think you did ok rodeoclown :thumb:

Back in the 1960's I paid $25 for just a BU (probably MS62-63). They were a lot scarcer then. A few decades late I remember hearing about unc. rolls, boxes, & bags being found and dumped onto the collector market. Therefore the prices dropped dramatically. It is probably one of the least inexpensive Key Coins to own.

I don't think any of mine are full steps, they look like weaker strikes.

 

That's fine. I don't have any hard evidence...just what I have heard and read over the years. I have no sources to sight. But, there is history of non-collectors hoarding coins they believe to be valuable in the future. Look at every first year issue of a coin series...that continues to this day. When the Washington Presidential dollar came out...people hoarded them like crazy, not just coin collectors. I doubt that non-collector's each kept tons of 1950-D nickels...but from what I have heard it sounded like it was common public knowledge that they were going to be of a limited production, not just known by collectors. So, people put them away. If a decent number of non-collectors each saved a couple examples hoping for a payoff someday...many high grade examples would survive.

 

Yeah, I think the one reason this one stood out was the possible 5 steps or better, which does make this particular coin a little more rare than the rest of the uncirculated '50-D's out there that have weak steps. Plus, I didn't have one and yeah, it is a relatively cheap key coin to have in a particular series.

I did just stumble across an article that was defending this particular coin. The speculation was, prices went up, then dropped but as time goes on and more collectors come around, the demand might go back up. Think about it, the amount of these minted means that roughly only 1 in 100 people can own one of these coins, in any condition, going by just the U.S. population and excluding foreign collectors. So less than 1% of the U.S. population can actually own one of these coins. Interesting read, I don't think the demand will go up anytime soon, you never know, doesn't matter to me, I wanted a '50-D and I got one.

 

Unfortunately, not even 1 in 1000 people in the US collect coins, so you now have at least 10 per collector. Is it still scarce?

The mintages for Jefferson that I found interesting are:

1950-D Jeffrerson Mintage - 2,630,030

1994-P Matte Proof Mintage - 167,703

1997-P Matte proof mintage - 25,000

1939-D -3,914,000

The key coin is NOT the one with the lowest mintage, it's the one that's hardest to find. Rarity does not equal value. Scarcity combined with demand creates value.

The hardest of these 4 coins to find in UNC is the 39-D regardless of mintage. That is the key date. Not the 50-D. Both Matte Proof coins have lower mintages but are also readily available. They are the most expensive of the series. The key is not necessarily the most expensive or the rarest, but the most difficult to find. I'd re-think the 50-D as the key date to the Jefferson series.

Now if you want to impress me, find me a 50-D in VG-F. That's a key coin, because they're almost impossible to find.

 

I didn't say it hasn't, I'm just saying not everyone (except collectors or speculators) hoarded coins. It's be near impossible to get accurate numbers of those who did, since I'm sure a large majority of them are dead now as well.

I did ask my grandmother about the 1950-D Nickel, she recalled hearing about it, she didn't bother hoarding them nor new anyone who did. Sure that's just my grandmother and the people she new, I'm just trying to say, the % who didn't hoard coins (the ones like this one that were announced) heavily outweighs the people who did, likely by a large margin.

 

10 or 100, doesn't change the fact there are still only 2,630,030 of them total, which still makes them the lowest mintage in the series and to some collectors, a key coin to still collect.

Depends how you want to define "key" as well, which I agree mostly with you but there are still many different factors, scarcity, mintage, grade, etc. But there's still a demand for the 50-D's apparently or you wouldn't be paying $15 or more for them. I don't care about proof mintage numbers, those are on a whole other playing level in my opinion.

I never argued it was the only key date, I simply said it's a key coin in the series regardless if most are in MS quality. I think that's what also makes it unique that there are more in higher grades than lower grades and most now focus on how many steps are on the memorial on the reverse to really increase it's value. Hence why this one caught my attention, seller claimed 5.5 steps, I can count 5 but will confirm once I get the coin in hand. I think 5 or 6 FS 50-D's are gonna be key in this series and make them more valuable than just the MS60 with no steps or very little step detailed cousins.

Well, every article I come across mentions and refers to the 1950-D as one of the key dates of this series. You can call it whatever you want, to me, low mintage (despite most of them in higher grades due to hoarding) still makes it a key date to me and as a collector. I'll tell you what, I'll get me another 50-D and keep it in my pocket and rub on it for the next ten years or so, when it's in VG or G condition, I'll sell it to you at a premium, which I doubt you would buy or anyone else would. Lower grade might be rare with the 50-D but I bet most aren't out buying them at higher prices than the MS60's or higher, which would go against your "key date" terminology of scarcity and rarity, which they would be but lack a demand.

Honestly, I think you're making too big a deal over this. I asked the opinion of one particular coin, not a whole debate over the 50-D not being a key date/mint in your opinion. I think at this point you're just :dead-horse: that was unnecessary from the get go. Most of what you're saying I don't disagree with and most of it I was already aware of. I just wanted the opinion on a coin I was eyeing to buy and did, that's all!

 

Definitely not impossible, but here you go, looks to be in Good, maybe VG condition. Looks like there's a really high demand for it too. That's a current steal at a $2.99 price.

http://www.ebay.com/itm/1950-D-JEFFERSON-NICKEL-SCARCE-KEY-DATE-X82-/360422664829?pt=Coins_US_Individual&hash=item53eadd6a7d#ht_2640wt_937

I think the reason you couldn't call a VG-G 50-D a key coin is because, it'd be too easy to put into that condition, you can't reverse it back to a MS quality condition. So that's why I still think the 50-D is a key coin in the series. It's already rare due to mintage numbers, it has history and there's still a demand for collectors to put into their collections. Of course high grades aren't scarce but we could say the ones with FS are scarce and have a higher demand, making them key.

I'm done now, agree to disagree with what one collector considers "key", which I think there are different levels and scenarios that make a particular coin key which include mintage numbers which can cause rarity, scarcity of different grades, demand and so on.

 

I gave them. You didn't care for what I said, and that's fine. It's not personal, I happen to collect key date coins and I disagree with your use of the term.

You already bought the coin, so you're looking for people to to reinforce what a good purchase you made. Don't expect me to be one of them, but if you're happy, that's all that counts.

What I was trying to impress upon you is that this coin doesn't seem to be any better than an average 50-D and that you can likely find better for your money. Apparently, that goes counter to what you want to hear.

 

Not really, you didn't say anything directly about the given coin, just 50-D's in general, which most of it I was already aware of.

Actually, at the time of posting, I hadn't purchased the coin. You assume I wanted reinforcement of a good purchase but there was no purchase until later after many responses. I just wanted to engage in conversation about this particulae 50-D, not all 50-D's. I am happy, I don't need reinforcement of the coins I buy to make me warm and fuzzy, when you say that, you're just preaching to the choir.

Well, not in my opinion. The 5 full steps is the key to me buying this. I've seen plenty of others in what is considered the same quality grade or even better but lack the steps on the reverse. That's what caught my attention with this particular one.

I think for $15 bucks, I managed to do well. I'm happy, I got the coin and confirmed that it actually has 5 Full Steps on the back with some partial details of the 6th step. The coin actually looks better out of the old cardboard 2x2 and plastic in a better holder now.

 

I am not sure what some of you are looking at but this 1950-D Jefferson is a solid MS65 5FS by PCGS standards and has an outside chance at MS66 5FS by NGC standards. That is assuming that the steps are indeed full and that there is not a small bridge being hidden by the small photos. Either way, there is nothing wrong with submitting this coin for grading. Lets put it this way! If I had seen this auction, you probably would have paid more than $16. I don't need one for my album collection as I picked up this little toner for $40 back in 2010. There is a bridge between the 4th & 5th steps under the second pillar preventing a full step designation.



As for the key date debate, lowest mintage should not be the qualification for key date status. The qualifier should be the number of coins extant. Outside of the war nickels, the 1950-D has the highest graded population in premium gem. Here are just the NGC populations:

1950-D MS66: 1242/21
1950-D MS66 5FS: 184/14
1950-D MS66 6FS: 35/0

The 1950-D does not become difficult to find until you reach the MS67 FS level where there are less than 20 graded by both TPG's. Now some will argue that the 1950-D submissions are inflated because of the key date status that was anointed by the low mintage. And to some extent, the argument is valid. The reputation certainly drove extra submissions, but it is impossible to deny that 1950-D is common in MS66 and is not the key date to the series. However, the same argument can be made about the 1939-D which also had a low mintage. Here are the NGC populations:

1939-D Rev 38 MS66: 107/41
1939-D Rev 38 MS66 5FS: 1/1
1939-D Rev 40 MS66: 122/46
1939-D Rev 40 MS66 5FS: 4/0

From these populations it is clear that the 1939-D is actually rare in full steps and much more scarce than the 1950-D. However, when compared to the premium gem populations of most of the date/mm of the Jefferson Nickel series, the 1939-D is not scarce at all and I don't consider it the key date to the series either. The real key date to the Jefferson Nickel series is the 1939-S Rev 40. Don't believe me? Try to find one in premium gem. Here are the NGC populations:

1939-S Rev 40 MS66: 8/3
1939-S Rev 40 MS66 5FS 1/0

Anyway, I think Rodeoclown got a fantastic deal on his new Jefferson Nickel and offer him congratulations.