Question about 1942 nickels for the Jefferson fans.

[RWB]

In the first half of 1942 nickels were made in the standard copper-nickel alloy. In September a new alloy of copper, silver and manganese was approved and coins were made beginning in October. The new alloy coins had a large P, D or S mintmark over the dome of Monticello. Proofs were made in approximately equal quantities.

 

In checking authentication reports for the past 25-30 years, I notice the two varieties have been authenticated in substantial quantities. Yet, when I examined auction records, I see that proof Type II coins seldom appear. This is the only Jefferson variety for which this is evident.

 

Anyone have any ideas about why this occurred?

[WoodenJefferson]

Are there any mintage figures where it shows how many Six Coin sets were actually assembled and sold?

 

The six coin set consisted of; Cent, Nickel, Dime, Quarter, and Half Dollar plus a Silver War-time Composition Nickel.

[CaptHenway]

They are not that expensive, and may simply not be worth auctioning.

TD

[RWB]

The CuNi coins appear frequently in major auctions....in PR63 and up.

 

Proof silver nickels were not released until November. All proofs were sold individually although many people bought a set of 5 coins.Demand for individual silver nickels must have been substantial. Coin albums of the time only had 5 openings for each year.

[e1cnr]

Are there any mintage figures where it shows how many Six Coin sets were actually assembled and sold?

 

The six coin set consisted of; Cent, Nickel, Dime, Quarter, and Half Dollar plus a Silver War-time Composition Nickel.

 

proof coins were sold individually through 1942 - in 1950 the mint started grouping them together in 'sets'

 

I disagree with the original assertion that type 2's rarely sell in auctions - I feel more of them sell than type 1's and roughly 50% higher priced due to the one year 'type' aspect.

 

It is possible that where ever you are getting your data includes '1942 proof Jefferson' as a type 1, even though not distinguished.

[jpcienkus]

Are there any mintage figures where it shows how many Six Coin sets were actually assembled and sold?

 

The six coin set consisted of; Cent, Nickel, Dime, Quarter, and Half Dollar plus a Silver War-time Composition Nickel.

 

proof coins were sold individually through 1942 - in 1950 the mint started grouping them together in 'sets'

 

I disagree with the original assertion that type 2's rarely sell in auctions - I feel more of them sell than type 1's and roughly 50% higher priced due to the one year 'type' aspect.

 

It is possible that where ever you are getting your data includes '1942 proof Jefferson' as a type 1, even though not distinguished.

 

Roger stated the Type II's rarely appear at auction. That coincides with your statement as well.

[CaptHenway]

FWIW, while I was at Berk's we once bought in an old collection that had ten 1942 Proof cents in individual sleeves that were all stapled together across the top in one cardboard box, and ten 1942-P Proof nickels the same way in a different box.

 

TD

[coinman_23885]

Are there any mintage figures where it shows how many Six Coin sets were actually assembled and sold?

 

The six coin set consisted of; Cent, Nickel, Dime, Quarter, and Half Dollar plus a Silver War-time Composition Nickel.

 

proof coins were sold individually through 1942 - in 1950 the mint started grouping them together in 'sets'

 

I disagree with the original assertion that type 2's rarely sell in auctions - I feel more of them sell than type 1's and roughly 50% higher priced due to the one year 'type' aspect.

 

It is possible that where ever you are getting your data includes '1942 proof Jefferson' as a type 1, even though not distinguished.

 

I thought collectors could purchase the pieces as sets or as individual pieces.

[DWLange]

I thought collectors could purchase the pieces as sets or as individual pieces.

 

There was no such thing as a proof "set" in the years 1936-42, as all proofs were sold individually. A person could order one of each denomination and call it a set, but the Mint would just staple the five plastic envelopes together.

[RWB]

FWIW, while I was at Berk's we once bought in an old collection that had ten 1942 Proof cents in individual sleeves that were all stapled together across the top in one cardboard box, and ten 1942-P Proof nickels the same way in a different box.

 

TD

That fits mint documents which state that cents and nickels were the most popular coins, although most orders were for one of each denomination.

 

Also, note that the Philadelphia Mint produced the coins more or less to-order, and did not keep a large inventory.

 

David Lange: Any thoughts on the low auction numbers for 1942-P nickels?

[e1cnr]

Of the current eBay auctions for 1942 proof Jefferson, over a third are type 2 - do you consider that few, low or seldom?

[BillJones]

The 1942 Type II nickel in Proof does not appear in very many auctions because it does not sell for enough money to rate a space in most of the live major aucitons. You find them in the "Internet only" section.

 

Looking at "Coin Facts" this coin only brings big money (a few thousand dollars) in PR-68 or PR-66 and above, Cameo. PCGS has only graded 12 pieces in PR-68 and 1 on PR-69. In PR-66 or 67, Cameo PCGS has only graded 7 coins.

[RWB]

"Of the current eBay auctions for 1942 proof Jefferson, over a third are type 2 - do you consider that few, low or seldom?"

 

Things like Ebay have too many variables (shills, unreported prices, rescinded sales, false sales, etc.) to make reliable sources of data.Major auction companies are being used because their data are consistent and reliably controlled. Only actual sales with buyer's commission have been tallied.

 

However, I will add material about uncontrolled sales such as ebay -- the information belongs in the book. The idea to do so is appreciated.

[CaptHenway]

The 1942 Type II nickel in Proof does not appear in very many auctions because it does not sell for enough money to rate a space in most of the live major aucitons. You find them in the "Internet only" section.

 

Looking at "Coin Facts" this coin only brings big money (a few thousand dollars) in PR-68 or PR-66 and above, Cameo. PCGS has only graded 12 pieces in PR-68 and 1 on PR-69. In PR-66 or 67, Cameo PCGS has only graded 7 coins.

 

Thanks for agreeing with what I said earlier........

 

;-)