Market Analysis: Reverse of 1938 on 1940 5-cent coin

Market Analysis: Reverse of 1938 on 1940 5-cent coin

By Steve Roach , Published: Oct 7, 2020, 9 AM

The reverses of Proof 1940 Jefferson 5-cent pieces come in two distinct varieties. The Reverse of 1938 coin shows wavy steps on Monticello while the Reverse of 1940 coin shows straighter, more defined steps.

According to Ron Guth and Bill Gale in their 2002 edition of United States Proof Sets and Mint Sets, the Reverse of 1938 coin is “approximately fifty times rarer” than the Reverse of 1940 variety.

Heritage offered one of only two Professional Coin Grading Service-graded Proof 68 Jefferson, Reverse of 1938 5-cent coins, observing, “Ice-blue, pink, magenta, and apricot colors endow this well-struck and seemingly unimprovable PR68 specimen,” before concluding, “Even close examination with a loupe fails to reveal any marks, hairlines, spots, or other distractions on either side.”

Listed as FS-901 in Cherrypickers’, it was previously offered in 2011 at Heritage, where it was then the sole example in this grade certified by PCGS with none finer, realizing $28,750. In Heritage’s Sept. 18 Dallas auction, nearly a decade later and with Certified Acceptance Corp. approval, it sold for $26,400.

The original article and others like it can be found at Coin World online.