NGC -
A close examination of the mintmark reveals this coin's true nature.Read More: Counterfeit Detection Series.
In 1926, the Denver Mint struck some 5.6 million
Buffalo nickels, which is nearly 6 times the San Francisco Mint's output of 970,000 that year; the lowest in the series. While clearly this is not a terribly low mintage on its own, the coins were often very poorly struck. This, plus the fact that many of them went directly into circulation, means that the 1926-D
Buffalo nickel is quite rare today in Mint State.
Recently, the NGC grading team saw this example, which was submitted by a collector.

At first glance, nothing really seems amiss with this coin. It seems like an average-quality Mint State
Buffalo nickel. It even has a weak strike reminiscent of a Denver issue. However, a closer look at the mintmark reveals this particular coin is an altered piece.
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