Ron Guth: The 1940-S Nickel is a very common coin with hundreds of examples certified by PCGS at the MS-65 and MS-66 levels. Superb examples, on the other hand, are extremely rare. A high percentage of the certified Mint State survivors exhibit full steps, indicating good striking characteristics for this date/mintmark combination.
The finest examples certified by PCGS (as of January 2012) include a single MS-67 (non Full Steps) and 8 MS-67 Full Steps.
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