Grading Bank Rolls War Nickels Bulk Submission: The Difference Between $10 and $1,000

Historical Significance

The 1944 Jefferson Nickels from Philadelphia, Denver, and San Francisco mints represent a fascinating period in American coinage history. These war nickels, produced during World War II, contain 35% silver and 56% copper, with the remaining 9% being manganese. This unique composition was implemented to conserve nickel for the war effort. The 1944 date is particularly notable as it marks the third year of this special wartime composition, making these coins both historically significant and valuable to collectors.

Identifying Key Markers

When examining these 1944 war nickels, several key markers must be evaluated to determine their potential grade and value. The high points of Jefferson’s portrait, particularly the forehead, cheek, and jaw, are critical areas to inspect for wear. The steps of Monticello on the reverse are another crucial element, with full steps significantly increasing a coin’s value. Additionally, the presence of any repunched mint marks (RPMs) can substantially enhance a coin’s worth, as these varieties are becoming increasingly scarce.

Wear Patterns and Luster Assessment

Understanding wear patterns is essential when grading these coins. On the obverse, wear typically begins at the highest points of Jefferson’s portrait and progresses downward. The reverse shows wear first on the dome of Monticello and the horizontal lines. When evaluating luster, look for original mint luster that appears frosty and unbroken across the coin’s surface. The presence of original luster, particularly on the fields, is a strong indicator of an uncirculated grade. However, be aware that war nickels are prone to lamination issues, which can affect their overall eye appeal and grade.

Strike Quality Evaluation

The strike quality of these 1944 war nickels can vary significantly between mints and even between individual dies. The Philadelphia mint typically produced coins with good overall strikes, while the Denver and San Francisco mints sometimes struggled with weaker strikes, particularly on the steps of Monticello. When examining the strike, pay close attention to the details of Jefferson’s hair and the pillars of Monticello. A full strike with sharp details will command a premium, especially in higher grades.

Eye Appeal and Surface Preservation

Eye appeal plays a crucial role in the final grade and value of these coins. Look for coins with attractive toning, free from significant marks or scratches. The surfaces should be clean and free from carbon spots or other forms of environmental damage. War nickels are particularly susceptible to toning due to their silver content, so coins with original, attractive toning can be highly desirable. However, avoid coins with unsightly toning or corrosion, as these factors can significantly impact the grade.

PCGS/NGC Standards and Grading Considerations

When submitting these coins for grading, it’s important to understand the standards used by PCGS and NGC. For war nickels, the grading scale is particularly critical in the MS60 to MS66 range, where small differences in grade can result in significant value variations. An MS66 example can be worth $30 or more, while an MS67 can command prices in the hundreds or even thousands of dollars. The key is to identify coins with full luster, minimal marks, and strong strikes. Remember that the grading process is subjective, and what one grader sees as an MS66, another might consider an MS65.

Bulk Submission Strategy

The discussion around bulk submission of these war nickels highlights several important considerations. While the initial thought might be to submit an entire roll to save on per-coin grading costs, experienced collectors and dealers strongly advise against this approach. Instead, carefully examine each coin and select only the best examples for submission. This strategy not only saves money but also increases the likelihood of receiving high grades on the submitted coins. The cost-benefit analysis becomes clear when considering that a failed submission costs $2 per coin, while a successful MS66 grade might only break even at around $30.

Conclusion

The grading and potential value of 1944 war nickels requires a careful, methodical approach. While the temptation to submit entire rolls for bulk grading might be strong, the consensus among experienced collectors is clear: examine each coin individually and submit only the best. Look for coins with full luster, minimal wear on the high points, sharp strikes, and attractive eye appeal. Pay special attention to potential varieties like repunched mint marks, which can significantly increase a coin’s value. By taking the time to carefully select coins for submission, collectors can maximize their chances of receiving high grades and, consequently, higher values for their war nickels. Remember, in numismatics, as in many things, quality trumps quantity every time.

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