The Atlantic City Set of Jefferson Nickels
1940-S


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: FIVE-CENT PIECES - JEFFERSON
Item Description: 5C 1940 S
Grade: NGC MS 67 5FS
Owner: lehigh96
 
Winning Set: The Atlantic City Set of Jefferson Nickels
Date Added: 8/19/2009
Research: Currently not available

Owner's Description

Mintage: 39.7 Million<br />Full Step Availability: 10%<br />Population MS67 5FS: 11/0<br />Date/mm Information: Bowers characterized most 1940-S's as having problems of one sort or another-erratic luster, weak details, subpar eye appeal.<br /><br />Coin Description:<br />Dove grey surfaces are complimented by almond patina with blushes of mint green. This coin is a top pop rarity. The total population in full steps is (11/0) and NGC's population is only (3/0). A fantastic representative worthy of a top grade. Extremely clean surfaces and satin luster in combination with an undeniable complete strike.<br /><br />Comments:<br />Having acquired my 6 step 1940-D and 1940 in March 09 & July 09 respectively, I prepared for a long search to find an MS66 full step 1940-S. To my delight and surprise, this MS67 5FS hit the market was auctioned by Teletrade in August 2009 where I paid a scant $220 to obtain it. The PCGS collectors didn't want it, and nobody seemed willing to bid more than MS66 PCGS price guide. The large majority of my collection was obtained by paying substantial premiums. I consider this coin to be one of the few bargains for the following reason. The exact same coin was auction via Heritage in the 2008 January FUN Sale in Orlando where it realized a price of $1,150.<br /><br />This coin also displays what Bernard Nagengast calls the "halo effect" in THE JEFFERSON NICKEL ANALYST. Nagengast writes: <br /><br />"A curious luster contrast is frequently encountered on San Francisco minted Jefferson Nickels through 1954. This luster contrast is circular in nature, and is apparently the result of uneven die wear or die polishing or even a combination of the two. Often heavy metal flow lines are present, especially around the letters and devices. The "halo effect" is especially common on 1939 through 1941 issues."<br /><br />Here is the Heritage Coin description from the 2008 January FUN Sale in Orlando: 1940-S 5C MS67 Five Full Steps NGC. This shimmering, olive-gold Superb Gem nickel is fully struck and impressively preserved. Some wavy marks in the fields are as struck, and may have been caused by die polishing. Census: 2 in 67 Five Full Steps, 0 finer (12/07).<br /><br />The "halo effect" is not well known outside of Nagengast's readers and this coin is the best representative I have ever seen of the phenomenon and led me to dub this coin "THE ANGEL".

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