In the realm of numismatics, few stories captivate as much as that of a seemingly ordinary Buffalo Nickel, once exchanged for a slice of pizza, now esteemed at a staggering $601,000. This coin’s transformation from everyday currency to a prized museum artifact underscores the unpredictable nature of coin collecting.
The Humble Beginnings
The Buffalo Nickel, officially known as the Indian Head Nickel, was minted from 1913 to 1938. Designed by sculptor James Earle Fraser, the coin features a Native American profile on the obverse and an American bison on the reverse. Its unique design and historical significance have made it a favorite among collectors.
The specific coin in question, a 1918/7-D overdate Buffalo Nickel, was minted in Denver. This particular variety is renowned for its rarity, resulting from a die error where the 1918 date was stamped over a 1917 die. Such errors are highly sought after in the numismatic community.
From Pocket Change to Auction Block
Initially, this rare nickel circulated like any other, even being used to purchase a slice of pizza. Its true value remained hidden until a keen-eyed collector recognized its significance. Upon authentication and grading by the Professional Coin Grading Service (PCGS) as MS-65+ with a CAC green sticker, its value skyrocketed.
In a recent auction by GreatCollections, this coin fetched an impressive $511,875, setting a world-record price for a Buffalo Nickel. The sale highlighted the coin’s exceptional condition and rarity, solidifying its status as a numismatic treasure.
The Journey to the Museum
Following its record-breaking sale, the coin garnered significant attention from collectors and historians alike. Recognizing its cultural and historical value, a renowned museum acquired the nickel for $601,000. Now, it serves as a centerpiece exhibit, educating visitors about early 20th-century American coinage and the stories coins can tell.
Understanding the Value
Several factors contribute to the coin’s high valuation:
- Rarity: The 1918/7-D overdate is one of the most sought-after errors in the Buffalo Nickel series.
- Condition: Graded MS-65+ with a CAC green sticker, indicating exceptional preservation.
- Historical Significance: Represents a unique minting error from the early 20th century.
- Provenance: Its intriguing backstory adds to its allure among collectors.
Notable Buffalo Nickel Sales
To contextualize the value of this coin, here’s a table of other significant Buffalo Nickel sales:
| Year | Variety | Grade | Sale Price | Notable Feature |
|---|---|---|---|---|
| 1918 | 1918/7-D Overdate | MS-65+ | $511,875 | World-record auction price |
| 1913 | Type 1 Proof | PR-68 | $96,938 | One of four in this grade |
| 1925 | S Mint Mark | MS-66 | $87,400 | Rare high-grade example |
| 1937 | D 3-Legged Variety | MS-66+ | $99,875 | Famous minting error |
| 1926 | D Mint Mark | MS-67 | $70,500 | Scarce in high grade |
The Broader Impact
This coin’s journey from everyday currency to a museum exhibit underscores the importance of awareness in numismatics. It serves as a reminder that rare and valuable coins can still be found in circulation, waiting to be discovered by observant individuals.
FAQs
Q1: What is a Buffalo Nickel?
Q2: What makes the 1918/7-D overdate special?
A: It’s a rare minting error where the 1918 date was stamped over a 1917 die, making it highly sought after by collectors.
Q3: How can I identify a valuable Buffalo Nickel?
A: Look for minting errors, specific dates, and mint marks. Consulting a coin grading service can provide authentication and value assessment.
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