We are excited to release the ninth coin in the CollecTons Keepers program, an exclusive series only offered by CollecTons. The ninth coin we present, CollecTons Keepers #9 in Series, features the rare 1950-D Jefferson Nickel.
Why is the 1950-D Jefferson Nickel a Coin Worth Keeping?
The 1950-D Jefferson Nickel has the lowest mintage figure of any nickel in the Jefferson series. At 2,630,030, that equates to 1 nickel per 120 people in the United States. Compare that to the 20,460,000 1951-D nickels minted.
Collectors quickly realized that the coin was going to be in high demand and began hoarding them. Collectors rushed to their local banks attempting to get their hands on this rare coin. Midwest banks had the largest supplies of undistributed coins and a few entrepreneurial individuals managed to acquire large quantities. These business men drove across the country during the summer of 1951 selling $2 face rolls for $5 - $7 each! One numismatist from Houston, Texas, A. J Mitula, is said to have procured over 1 million coins (over 1/3 of the entire mintage). He made so much money selling the coins that he bought a summer home on the slopes of Pike's Peak in Cascade, Colorado. He named the property "The house that the 1950-D Nickels built".
Hoarding of the 1950-D nickel continued across the country, creating a frenzy of demand, a shortage of supply and sky rocketing prices. The price peaked in 1964 at $25 for a single coin. For perspective, $25 in 1964 is the equivalent of $100 today. Following the 1964 peak the market began to recede as dealers realized that the fad was slowing and the number of collectors began to fall (in 1965 the U.S. mint stopped putting the mint mark on Jefferson Nickels, causing collectors to dwindle). By 1969 the price had dropped to $12.50 a coin and by the mid 1980's the price was hovering around $6. Quite the ride for the 1950-D Nickel! It is often speculated that the coin was the most highly hoarded in the U.S. Mint's history.
The low mintage and unprecedented hoarding has lead to the 1950-D being the Key Date coin of the series. Today, the 1950-D Jefferson Nickel is still a highly sought after modern rarity due its low mintage and high demands. It is an essential piece to any Jefferson Nickel set.
Designer: Felix Schlag
Composition: .750 Copper, .250 Nickel
Weight: 5 grams
What makes the Collectons Keepers program special?
Here at CollecTons, we work hard researching coins that should be part of every collection. Our goal is to utilize our knowledge in the numismatic industry to select coins worthy of being in everyone's collection! Therefore, the CollecTons Keepers program will only feature those Coins Worth Keeping.
Each coin is hand selected and given to ANACS (America's Oldest Grading Service) for grading and authentication. The coins are then sealed in an ANACS certified proprietary slab holder for long-term storage, with our limited edition label marking it a CollecTons Keeper.