by
Greg Reynolds for CoinLink On April 15, B&M auctioned an excellent group of
Buffalo nickels. The core of the offering was a selection of gem quality pieces from the Colorado collection of
Buffalo nickels, which was one of the finest collections of Buffaloes ever assembled. These nickels were 'off the market' for many years.
Most of the
Buffalo nickels in the B&M sale were not from the Colorado collection. The following NGC graded MS-66 nickels were from the Colorado collection: a 1918-S, a 1919-S, a 1923-S, a 1926-S, and a 1927-S. NGC graders awarded both the 1926-S and the 1927-S a star for eye appeal. These will be discussed below. Additionally, the NGC graded MS-66 1925-D in this auction is not from the Colorado collection, and the PCGS graded MS-65 1925-D is from the Colorado collection.
In all my years of reporting on coin auctions, it never occurred to me that a 1926-S
Buffalo nickel would ever realize more than $300,000! I was astounded that the Colorado 1926-S in this auction sold for $322,000!
To provide an idea of the reasons why certain
Buffalo nickels are worth great sums, it is necessary to discuss the relative scarcity of certain dates, and to mention some factors involved in completing sets of
Buffalo nickels in high grades. It will also be helpful to mention some past prices. One implication is that the $276,000 price for the 1916 "Doubled Die" Buffalo, in this auction, is not surprising.
As the doubling of the numerals is more important, and the rest of the doubling is not nearly as apparent, I call the 1916 Doubled Die obverse variety a 'Doubled Date,' which is actually clearer as it supports the point that most collectors refer to it as a separate date. David Schweitz agrees that the term 'Doubled Date' is better suited than 'Doubled Die' as "the doubling is most pronounced on the numbers." Some other parts of the obverse (front) are "not very much doubled."
In Nov. 2007, B&M auctioned a 1916 Doubled Date nickel for $316,250, and it thus became the second
Buffalo nickel to sell for more than $300,000 at auction. It is one of two that the PCGS has graded MS-64. The other was also auctioned by B&M, in August 2004, for $281,750, which may have been a record for the date and type, at the time.
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Posted 04/28/2008 11:23 am
