Obtained a 1942-D Jefferson Nickel NGC MS66 from Teletrade Auction #2992 for $42. This coin will not compete in any of my registry sets.

1942-D 5C MS66 NGC

Teletrade Auction: 2292 Lot # 1348.

Seller: Teletrade

Auction Ended On: Sunday, Jan 9, 2011

Coin Description:

Intense bright gold patina envelops both sides of this extremely lustrous well struck premium gem. Fully detailed in both Jefferson's portrait as well as the features of Monticello. Only the 6th step is missing from a completely full strike.

Comments:

This coin resides in a Generation 3 NGC holder which means that it was graded sometime in 1988-89. This is an important piece of information because prior to February 16th, 2004, NGC did not recognize coins with 5 full steps. In order to receive a full step designation, the coin was required to have 6 full steps. And while it is obvious that this coin does not have 6 full steps, it is almost assured of getting a 5 full step designation. In addition, the coin is PQ for the assigned grade.

The Numismedia Wholesale price for an MS66 1942-D is $58 which means that my buy price of $42 was already a good deal. But when you consider that this coin could easily end up in an MS66 5FS holder and most likely an MS66+ 5FS or MS67 5FS holder, there was really no choice but to purchase the coin.

Many people will tell you to follow the mantra "buy the coin, not the holder." This coin is a very good example of what you can do when you follow that advice by applying both grading knowledge and an understanding of the TPG's historical practices.