Featured Jefferson Nickel FS Designation

PCGS describes the Full step designation as follows:
Jefferson Nickels. MS60 or better, at least five complete steps must appear on Monticello. Any steps that join or fuse together, whether created that way or subsequently damaged, cannot be considered for the Full Steps designation.

Now, I understand that. But upon further inspection/comparison before I send one of mine to them, I have found that a lot of their coins designated as FS do in fact have minor flaws on the steps. I was checking out the 1946 S FS nickels on PCGS coinfacts and even on their featured coins, they have minor step issues. Check out the pic below(1946 S MS66FS) all the way to the left of the stairs. So this raises my question of, how strict are they about the FS designation?


Below is a picture of mine. What do you guys think? Sorry for the bad picture. Regardless how the picture looks, the steps are completely full, except for that nick right in the middle. After comparing it to the designated FS example above, I don't really know anymore!

 

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This may help. The entire reverse of the coin...

 

You don't think the graded one spans more than one step? With a few smaller ones also. I'm not trying to argue. This is just my first real encounter with sending a jefferson nickel in!

 

I definitely know what you're saying. But it seems at though almost every PCGS FS has some mark that in my opinion(using their definition), I would not consider a FS coin.

 

ALL Jefferson nickels from 1965 to date are "FS" coins.

It says so right at the base of the bust!

 

I agree with @ToughCOINS on this one. I think that they are using "FS" when they think the coin is worth more then the MS66 price but under the MS67. I thought that that is what they used the "+" grade for, but there usually isnt a significant jump between a MS66 and a MS66+

Grading services grade coins based on what they think their value is, not always based on what their ACTUAL grade is.

 

I've found this to be quite helpful in the past.

http://varietynickels.com/pages/jefferson-nickel/grading/understanding-full-steps.php

 

Thanks. Appreciate the insight.

 

Vwey similar to my full-split-bands Merc. The bands were really full split, but then they were split by a ding.

 

Well heres the verdict from PCGS... MS66FS! Not bad for a $.05 investment!

 

Really bad truview though...

 

Just looked and its now the featured coin in coinfacts!

 

I agree with @ToughCOINS

Here's my take on it, the short version.
Full steps are a product of the die quality and strike.
Let's take away the contact marks for a minute and look at the steps.

Without minimal contact marks, are the steps complete?

Although the second one would not "technically" qualify as FS because of the contact marks, is it really fair to value them the same, due to non-FS, when clearly the second one is superior in every way?

 

Very true. I was not looking at it like that.

 

You got that for .05 cents?? with that beautiful rainbow toning and FS designation, and MS66?
That....Is....Awesome

 

Yes. Bought a complete set from an older gentlemen who had a complete set that he offered to me for face value! I have to check out what else is in there more carefully.