Jeffrey1982

On 11/7/2014 at 8:49 AM, Mr. Smith Guesser said:

For the past several months, I've been quite interested in the Cherrypickers' FS-901 variety found on the 1969-P, 1970-P, and 1970-D Roosevelt dimes. And I just wanted to post an update on what I've learned about the variety so far.

 

If you're not already familiar with this variety, I'll quickly sum it up:

 

There are two reverse design varieties found on 1969-P, 1970-P, and 1970-D Roosevelt dimes. The first is the correct reverse design intended for the dates, called RDV-001 by CONECA. The second, called RDV-002 by CONECA and listed as FS-901 in the Cherrypickers' Guide, was originally intended to be used on the 1968 proof reverse. However, the 1968 proof reverse somehow found its way onto 1969-P, 1970-P, and 1970-D business-struck Roosevelt dimes.

 

The correct reverse (RDV-001) features the torch flame in low relief, while the 1968-S reverse (RDV-002 & FS-901) has two deeper valleys in the flame. The difference is obvious to the naked eye.

 

 

It is believed (although unconfirmed) that in 1969 and 1970 the mints had a deficit of working reverse dies for Roosevelt dimes and simply made the decision to use surplus reverse dies, which just happened to be the 1968 proof reverse, to continue production.

 

There is pretty good evidence that the use of the 1968 proof reverse was intentional. The variety is found on Roosevelts from both the Philadelphia and Denver mints, and across two years of production. It would be unlikely that an unintentional mistake would be made at both mints and across the two years. Furthermore, we can make the good assumption that there were in fact a significant number of surplus 1968 proof reverse dies; evident in the availability of mint cancelled 1968-S die and collar sets on the market. These are often still found for sale on eBay.

 

After collecting this variety for the past several months, I've found a significant discrepancy in the availability of FS-901 across the three Roosevelt dates/mints.

 

I've found that the 1970-D FS-901 is the easiest to find by far. Most of the 1970-D FS-901s that I've found have been well circulated, although uncirculated coins can be found with a little searching.

 

The variety is impossible to see in this photo. But trust me, they're all well circulated 1970-D FS-901s.

 

The 1970-P FS-901 is a bit harder to find in general. But I've found that, unlike its Denver counterpart, the 1970-P FS-901 is quite difficult to find uncirculated. I've been able to get my hands on a few very good AU examples, but have not been able to located a really nice MS coin.

 

Then there's the 1969-P FS-901. After searching for this coin for nearly nine months, I haven't seen even a single example of this coin in any grade...not even in a photograph! In fact, the only evidence that I can find for the existence of the 1969-P FS-901 is in the writings of other authors and in the PCGS population report. (NGC doesn't recognize the variety)

 

In total, PCGS has a population of only seven 1969-P FS-901s; three at MS 63 and four at MS 64. And no, there is no photograph of the coin on their website: http://www.pcgscoinfacts.com/Coin/Detail/511012?redir=t

 

If you have a 1969-P FS-901, please post a photograph!

 

It should also be noted that, even on the uncirculated 1970-D FS-901 coins, I have seen several with significant strike issues. I can only guess that this is a result of slight differences in the business and proof reverse dies, resulting in incorrect pressure.

 

All uncirculated 1970-D FS-901 with reverse strike issues.

 

I really like this variety because I find some humor in it. I like to imagine that someone at the Treasury Department was confronted with the reverse die dilemma and made the decision just to use the surplus 1968 proof reverse dies thinking, 'Eh, no one will notice. It's close enough.'

 

I've had three uncirculated 1970-D FS-901s graded; one by PCGS and two others by ANACS, all graded MS 65:

 

 

I've also just recently found a 1970-D graded MS 66 by PCGS and with the FS-901 variety; but the variety is undesignated. This coin is currently on its way back to PCGS for variety designation. Once designated, this coin will be top pop 1/3 (excluding one at MS 66 FB).

 

 

Again, if you have a 1969-P FS-901, please post a photograph. I'd love to see it.