If your Jefferson nickel has a strong strike, it might have 5 or 6 steps at the base of Monticello on the reverse. That adds value to most years and high value to some years, depending on date and mint mark.
To view steps on Jefferson nickels, use a loupe and look at them at the base of the Monticello depiction.
Keep in mind that this designation is only for business strikes, not proof coins. In fact, if proof coins lack complete steps, they would be impaired and lose collector value.
PCGS awards the designation if 5 lines are complete. NGC has 5-step and 6-step designations.
Sellers and lower tier grading companies often just state “full steps” when there is a break, a blending or a mark on any of the steps. There can be no such issue. The steps must run the complete base.
This internet seller claims his 1944-P war nickel has full steps. It doesn’t. There is a blending of steps, losing the designation:
One might anticipate such a blending as this coin is almost uncirculated and exhibits wear. In any case, with or without steps, this is a common issue with 119,150,000 minted. This specimen is only worth its 35% silver. But even in gem MS65, the retail value difference is only a few dollars.
A full steps designation on some years and mint marks dramatically increase value. There are many examples, but let’s just look at the 1949 nickel with a mintage of 60,652,000. The strike this year was dull for most of those coins, leading to higher values with full steps:
Some sellers disregard the fact that only some years and mint marks earn those higher values. They are counting on your not knowing which coins are common in full steps and which, rare.
Here’s an example from eBay:
I know where the seller got the idea that this coin would be worth $25,000. That’s the retail price for MS67 Full Steps in a PCGS holder. The nickel above does look gem, but not MS67 professionally graded so these PCGS values do not apply:
As proof of the above seller’s exaggeration, here is the same year and mint mark, MS65 Full Steps, Buy It Now on eBay, retailing at $45.
Now compare the two to help identify the difference:
If you like posts like this, subscribe so you can be informed whenever there is a new article or column.
Proxiblog also has hundreds of followers on Facebook Coin Groups. To get the latest discussion and commentary, be sure to friend us by clicking here.
You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
