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 Replies: 13 / Views: 1,666 |
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Moderator
 United States
16677 Posts |
I first saw this coin in the Red Book 25 years ago and always wanted to own one. I finally do, but not like this!  Lot # 512 1918/7-D Buffalo nickel. MS-65 (PCGS). Lot Information Final Bid $350,750.00 Description: This Mint error was borne out of the United States' insatiable demand for circulating minor coins during the final two years of World War One. In an effort to produce as many Nickels as possible in both 1917 and 1918, the Philadelphia Mint was undoubtedly preparing dies for use in both years toward the end of the former. One of these dies seems to have received the first impression from a 1917-dated working hub, but the second from a 1918-dated working hub. This die was then shipped west for use in the Denver Mint, where it produced an unknown, although presumably limited number of coins dated 1918/7-D. This variety, which rivals the 1916 Doubled Die Obverse and the 1837-D 3-Legged for most popular honors in the Buffalo nickel series, was discovered as long ago as 1931. Nevertheless, examples remain elusive in all grades, both circulated and Mint State. Survivors at the latter level perhaps number no more than two dozen pieces (this estimate per Lange, 2000), and we feel confident in stating that the vast majority of these coins grade no finer than MS-64. Exquisitely preserved with an untoned, softly frosted sheen, this solidly graded Gem is devoid of mentionable distractions. The strike is overall sharp, and the all-important 7 underdigit is easily discernible even without a loupe. A highlight of the extensive Buffalo nickel offerings in this sale, and a bidding opportunity that the advanced specialist cannot afford to overlook. The pattern of die erosion on the obverse of this coin is diagnostic for genuine examples of this important 20th century overdate. The obverse die crack (as struck) that originates above the ribbon knot is also seen on most extant 1918/7-D Nickels. The fact that this crack extends to the Native American's mouth on this coin suggests that it is a later die state. PCGS Population: only 3; 0 finer. PCGS# 3939. From the Richard Hennessy Collection. Earlier from our sale of the Carl Womack PCGS Registry Set of Buffalo nickels, August 2004, lot 384. swcoin.ecrater.com
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Moderator
United States
187862 Posts |
Quote:This variety, which rivals the 1916 Doubled Die Obverse and the 1837-D 3-Legged for most popular honors in the Buffalo nickel series   Joking aside, that is a lot of money for one little coin! |
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Pillar of the Community
United States
1130 Posts |
That's what happens when you look at top pop. You pay HUGE premiums for a slightly better coin.
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Moderator
 United States
16677 Posts |
Quote: Joking aside, that is a lot of money for one little coin!
I absolutely agree. This I imagine would be an extremely limited market. Sure, there is going to always be someone to purchase this coin but, I believe it's for the simple fact of selling it 6 months later hoping to make more $$. I wanted to put this info up. It's very educational as to how this overdate came about.
swcoin.ecrater.com
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Pillar of the Community
United States
5318 Posts |
I personally think the idea of "population", as defined by one TPG's grade is a little odd. I don't collect this series, so I don't know the die run or possible total number of this variety. I do know there's one very sought-after IHC overdate, the 1888/7, where only 23 are known to exist. The top grade of that variety, a well-struck MS64RB, sold recently for around $120,000. Of course, people will pay whatever it takes to get that "top" coin--but there's no telling that more won't turn up someday--or are currently in a collection outside of that "population". The 1888/7 overdate was first discovered in 1970, and I think there are more out there. Edited by KurtS
10/21/2008 8:28 pm
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Moderator
United States
16677 Posts |
I'm not sure of the die life of the 1918/7-D. I read that fact once, but can't seem to find it again searching. I do know the pops are low. NGC has certified just under 500 coins. Not sure about PCGS, can't access their pops. Here is an interesting fact about value:
1918/7-D
Grade:G4
Value Trends
1950: $7.50
1980: $175
1995: $300
2002: $400
2008: $1500
9.57% increase.
Another interesting fact about the 18/7-D:
It eventually was left to a coin collector, who, upon inspecting a 1918 dated coin in 1931, discovered the error, and alerted The Numismatist of its existence. Being that the Overdate was not discovered until 13 years later, sufficient time undetected in circulation had worn down many examples to undated status, with most of the remaining ending up in grades below Fine.
This is why the Overdate is so rare. Not a soul even knew of its existence till it was far too late to hoard it -- or to even find individual pieces.
swcoin.ecrater.com
Edited by vermontensium
10/21/2008 9:49 pm
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New Member
United States
23 Posts |
That is an amzing fact to realize about Buffalo nickels and one that I had never thought about before. Who knows just how many overdates await restoration? CCs |
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Pillar of the Community
United States
2540 Posts |
Final Bid $350,750.00 !! With that much I could do a complete set of Barber dimes, quarters and half dollars in gem condition! But, it would be nice to have the spare change to buy this piece, or even be able to bid on it. I wonder if the high bidder did this before or after the current market crash? If after, then he/she must be very well off. |
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Pillar of the Community
United States
3294 Posts |
I wonder how much the "1837" 3 legger would go for? The only ones I have ever heard of a 100 years newer then the one mentioned in the article :P
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Moderator
United States
187862 Posts |
Quote:
I wanted to put this info up. It's very educational as to how this overdate came about. I totally forgot to comment on the excellent information, so thanks!  |
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Pillar of the Community
United States
5318 Posts |
 I should remember that overdates on coins from 1909 onward* involve double-hubbings as the date was on the working hub. Compare this to IHC overdates/RPDs prior to 1909, which always involve one die being repunched with a later or repositioned date using a gang punch. *Trivia question: were any double-hubbed "overdates" made prior to 1909? I don't know the answer. |
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Moderator
United States
16677 Posts |
Thanks jbuck! That's a good question KurtS. I don't know of any . Also, 1837-D 3 legged is obviously a typo. swcoin.ecrater.com
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Moderator
United States
187862 Posts |
Quote:
Also, 1837-D 3 legged is obviously a typo. I figured it was, but for some reason reading it made me giggle and I needed that!  |
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Bedrock of the Community
United States
17884 Posts |
I can't think of any doubled die overdates before then, but there are probably some doubled die RPD's before that time.
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Replies: 13 / Views: 1,666 |
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Posted 10/21/2008 5:55 pm
