What to look for in US Jefferson Nickels.

Here's 4 worth looking for...

 

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Have you looked at a 1971 mint set recently?

Most of the coins are tarnished in most sets. And they are getting worse fast. Allen Herbert was wrong when he said the best way to store them was in the plastic. The ones that aren't destroyed yet need to come out and be soaked in alcohol or acetone.

There aren't enough '71 mint set left to make much of a difference anyway even if they were all pristine.

 

I have a complete set of Mint sets from 1959-date and I hand picked them all myself for quality coins.

You're gonna make me check, but at last glance, my coins have been fine.

and I can get you a ton of them if you're having trouble finding one.

 

I see the '09's here. There aren't a lot and not enough to do a meaningful analysis but I think most of them made it into circulation. I'd be a little surprised if more than 10,000,000 were set aside. This is still a staggering number and moreso since there should be some coming from circulation.

Ironically a lot of these appear to have been set aside in Puerto Rico and it's likely that the recent storm damage destroyed a few and caused many more to be spent.

Time will tell how many are available.

There was still no mechanism for obtaining these at banks for most people in '09 and the places they were released were geographically small. We could be in for surprises here.

Obviously they will be available in Unc for a good long while and this includes rolls.

 

The two worst dates (the worst packaging) are the '69 and '71.

The '68, '70, and '74 through '80 aren't a lot better.

I'm afraid even well stored sets are often affected. The number of Gems I've lost makes me sick.

The damage is more visible under incandescent light than florescent. Under some light it looks almost like attractive toning at first glance.

 

I'll look onight when I get home from work. Thanks for the heads-up.

 

@mikenoodle, please let us know what you find.

Steve

 

will do

 

My sets are fine. No change. They still look fantastic.

 

Glad to hear that, Mike!

Steve

 

Good news!

Very unusual though.

 

One million coins were hoarded by one person. That's a whole bunch of unc. coins to flood the market forever. I no longer consider them any more scarce than any other 50s date...in the 60s when I started collecting, the 50-D was the rarest coin in the set.

 

The 94-P and 97-P SP coins are two of my favorites available for around $50 ea. for a beautiful 69 grade coin.

 

@chascat, is the identity of the hoarder known? Never heard that before. How does one person even assemble that many?

I remember as a young collector in the ‘60s marveling (and envying) a local accountant, a friend of my father, who had a whole roll of 50-Ds! Thought he was Midas.

Steve

 

Those two in terms of value, IMO, are the ones to collect in the Jefferson series.

 

Yes...I read about it in CDN and PCGS articles. The stash was in some bank vault in Kansas I believe. Google 50-D nickel for more info.

 

This is the problem with most post-1931 low mintage issues. Unless something is pretty scarce there tends to be an inordinate percentage saved and many of them exist in hoards. These hoards work strongly to the detriment of rising prices.

Scarcer coins often turn out to be issues with higher mintages. This especially applies to moderns but there are instances in the '31- '65 timeframe.

 

This got me to thinking about the few proof sets I have (1960 - 1964) and it appears as if the nickels and pennies have toned a little, even though the original cellophane packaging appears to be undamaged. I have some proof sets of the State Quarters, too but these appear to be as new.

 

I don't know if I see a cause and effect between mintage numbers and long term value, but rather the number saved. Clearly anything from 1950- about 1970 was saved by the roll.

Where I think the sleepers are is in series that have little interest, for example golden dollars, where almost NONE are saved by the roll and in the future will be more difficult to find in nice, pristine condition.

 

I have a few of the Jefferson books filled up (in circulation ++). But, the BU proofs of all the Jefferson Nickels is worth something. The coin looks different and the populations are different in brilliant proof condition. Like the book 2 (1941-2017) of the Lincoln pennies. Collected that book of Lincolns in BU). Collect in brilliant uncirculated of Jefferson Nickles. I'll post some pictures. The set looks completely different (BU). Same thing with the Kennedy halves. Starting giving these to grand-kids already. Told them to keep til 70. When they are 70 years old in 2070. The last will be 70 in 2086. Those sets will be worth a bunch in that condition 52 to 68 years from now. Also, the 2017 proof set (Enhanced Uncirculated).