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COIN collectors are paying big bucks for a rare nickel with an interesting strike error.
The 1949-D Nickel is a rare coin that entered the production line a few years after the end of the Second World War.
Coin collectors have been told to check their change to see if they own a 1949-D Nickel[/caption]
Owners of the nickel could bag some serious money if the nickel has five steps on Jefferson’s primary plantation, Monticello[/caption]
The first Jefferson nickels came into American coinage history in 1938, and featured the profile of the eponymous Founding Father and third U.S. President Thomas Jefferson.
The 1949 coins were minted ten years later, shortly after WWII ended when the US tried to recover after war efforts and losses.
In 2021, the coin was sold at auction for an eye-popping $4,800.
However, eager coin collectors must make sure the nickel is from the Denver Mint and satisfies the full steps detail on the reverse of the coin at the base of Jefferson’s primary plantation, Monticello.
The stairway to the home must show at least five full steps in order for owners to be in with a shout of bagging the eye-popping cash sum.
COINING IT
Finding valuable coins could be as easy as checking your spare change.
This means inspecting your coins for rare pennies, nickels, dimes, and others as many of them could sell for thousands.
The most valuable coins are ones with a low mintage or an error, as collectors find those coins are some of the rarest.
The eBay site is a great resource to check if your coins are worth anything.
Just need to search the full coin name, select the sold listing, and then toggle the search to highest value.
It may also be helpful to get your coin graded by a third-party service.
This will likely reassure any coin collector that yours is legitimate which can add tons of cash to the price.
GRADE UP
Coin grading may seem complex, but understanding the basics can help you make better decisions when buying or selling coins.
Coins are assessed on a 70-point scale, where 1 represents the lowest condition and 70 signifies a perfect mint state.
The grading system uses terms like “Good,” which scores a low 4, and “Fine,” rated at 12.
However, grading considers more than just wear; factors such as luster, strike quality, and coloration can greatly impact a coin’s value.
How coins are graded
Coins are graded on a scale of one to 70, with one being the poorest grade, and 70 being the most pristine example.
Numbers 60 to 70 are generally the most sought-after by collectors and are known as Mint State coins.
Pieces that fetch thousands at auction are commonly found in MS67, MS68, and MS69 conditions.
An MS-70 is near-impossible to find among older coins.
As a result, two coins with similar wear may receive different grades based on these aspects.
Authenticity is vital, ensuring the coin has not been altered.
Reputable third-party grading services, like the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS), provide expert evaluations, assign grades, and encapsulate coins in protective holders.
Utilizing these services enhances a coin’s credibility and marketability.
Coin grades range from Poor (1) to Mint State (60-70).
For example, a “Good” coin shows basic outlines of the design, while an “Extremely Fine” coin retains sharp details with minimal wear.
Mint State coins may display minor handling flaws but show no signs of circulation wear.
Moreover, grading services can identify proof coins, which are specially produced and graded differently than regular coins.
