Latest and Greatest
44 - 1994-P JEFFERSON NICKEL, MATTE "SPECIAL UNCIRCULATED"


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: FIVE-CENT PIECES - JEFFERSON, PROOF
Item Description: 5C 1994 P
Grade: NGC SP 70
Owner: Cellgazer
 
Winning Set: Latest and Greatest
Date Added: 12/6/2017
Research: See NGC's Census Report for this Coin

Owner's Description

In 1993, Thomas Jefferson was honored with a commemorative silver dollar for the 250th anniversary of his birth. As the third president of the United States and the principal author of the Declaration of Independence, Jefferson is an important figure in U.S. history and hence has been honored extensively in numismatic designs. His portrait is featured on the front of the $2 bill, brought back in 1976 for the Bicentennial celebration, and, more famously, his likeness also appears on the five-cent nickel which replaced the Buffalo design in 1938. Like other modern commemorative coins, the Jefferson 250th-Anniversary silver dollar was available in both Proof and Uncirculated formats. But it was also sold in the Thomas Jefferson Coinage and Currency Set; included in this set were an Uncirculated 1993-P Jefferson 250th-Anniversary silver dollar, an Uncirculated 1994-P Jefferson nickel, and a Series 1976 $2 Federal Reserve Note. In other words, all the current-issue coins and currency featuring Thomas Jefferson were included in the set. Although the commemorative coin bears the date 1993, as a result of a late approval date, the authorizing legislation for this coin actually passed in 1994. The commemorative dollar and the Jefferson nickel are thematically identical, showing a portrait on the obverse and Monticello on the reverse, and are presented side-by-side in the coin and currency holder. Although the presentation is quite pleasant, that is not what makes this set so special. Rather than selecting regular 1994 nickels for this set, the U.S. Mint struck a special presentation coin for inclusion in this set: a nickel with a special matte finish. The matte finish had never before been used on a Jefferson nickel and had not been used on any nickel since 1916. In fact, it had not been used on any U.S. coin since 1922! Matte-finish coins are entirely non-reflective and have a dull textured surface. This effect is created by acid-treating or sandblasting the dies that strike coins to give them a fine-grained, rough surface. Matte coins are made for presentation purposes, and often these coins will receive multiple blows from coinage dies so as to show their detail more crisply. The even surface texture allows the coin’s design to be showcased in a special way. Because of the inclusion of the matte-finish Jefferson nickel, the Coinage and Currency Set was a great seller. In total, 167,703 were sold, accounting for more than half the sales of the Uncirculated Jefferson Anniversary dollar. Single-coin sales of the dollar (not in the sets) were just under 100,000, and more than 330,000 Proof versions were sold. All told, sales of the sets brought the total for the commemorative dollar up to 600,000, the maximum allowed by Congress. Very likely, more sets would have been sold had the limit not been reached—but not because collectors wanted the dollar: they wanted the matte-finish nickel! The Coinage and Currency Sets were the only way to get the matte-finish, special-strike 1994-P Jefferson nickel, and its mintage of 167,703 is the second-lowest mintage for any Jefferson nickel. Its soft, gray textured finish and crisp, prooflike detail make it a visually exciting specimen, while its low mintage makes it a very scarce and desirable modern issue. Garrett, Jeff; Schechter, Scott; Bressett, Kenneth; Bowers, Q. David (2011-03-04). 100 Greatest US Modern Coins (Kindle Locations 2218-2244). Whitman Publishing. Kindle Edition.

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