Jeffersons and FS

[clackamas-migration]

I think it has been a good thing that PCGS made a bunch of us Mad. I collect Jeffs and wheat Lincoln's and have nice PCGS registry sets to boot. I have purchased NGC coins in the past and have always been pleased but I tended to stay with PCGS because of my sets.

 

Anyway to the jist of the post. NGC Jeffersons hide some good bargains! If you have a tough Jeff in FS, say a 1950 P NGC would simply give the coin an MS designation to a 5 step coin. This gives us collectors the opportunity to get a coin that, if, by simply being in a PCGS holder, would be considerably more expensive. I am a collector, I collect coins not holders, so to me, this is a huge bonus.

 

However if you were a jefferson submitter, why would you send a 5 step coin to NGC? The answer is you would not, yet some do anyway.

 

Thoughts?

[PQSeated]

Interesting observation and possible money maker. I've often though about doing that, but I just can't find a large supply of NGC Jeffs.

[gmarguli]

I can't believe I missed this post and made another Jefferson FS post tonight.

 

Anyway, the same is true with FBL Franklins. I recently purchased a bunch of early mint sets and ended up submitting 7 Franklins from the sets. 4 went to NGC and 3 went to PCGS. The PCGS coins were clearly the inferior coins. They were the ones that did not have the top 3 bell lines full (as required by NGC in order to get the FBL designation). They also had several hits on the bottom bell lines. In the past I've noticed small hits on the lines precluding it from getting the FBL at NGC, but not PCGS.

 

Some slab biased buyer will probably pay more for one of the PCGS coins, even though it is inferior. But hey, he can put it in his registry set over there and that is all that matters to some.

[Hoot]

I admit that I send my 5 swtep coins to PCGS and 6 step to NGC.

 

But wait!

 

I have also sent some 5 steppers (and less) to NGC. Those were coins that I simply knew I was going to keep for the long-term. NGC does a much better job assigning the final grade. They are also tough on nickels.

 

See my other post in Greg's thread if you're interested as to why I think 5 steps should qualify as "full".

 

You are right that some amazing coins that are "full steps" by the adopted standard are not labeled as such in NGC holders.

 

Hoot.