Posted by In a remarkable turn of events, a seemingly ordinary coin discovered in a household junk drawer has made headlines by fetching an astonishing $138,000 at auction.
This coin, a 1920-D Buffalo Nickel, has captivated the numismatic community and serves as a testament to the hidden treasures that can lie unnoticed in everyday places.
The Buffalo Nickel: An Icon of American Coinage
The Buffalo Nickel, also known as the Indian Head Nickel, was minted by the United States from 1913 to 1938.
Designed by sculptor James Earle Fraser, the coin features a composite portrait of a Native American on the obverse and an American bison on the reverse.
The “D” mint mark signifies that the coin was produced at the Denver Mint.
The 1920-D Buffalo Nickel: Rarity and Value
While over 9 million Buffalo Nickels were minted in Denver in 1920, the 1920-D variant is particularly scarce in high-grade conditions. The coin that recently sold for $138,000 was graded MS67 (Mint State 67), indicating an exceptional state of preservation.
According to the Professional Coin Grading Service (PCGS), only one example of the 1920-D Buffalo Nickel has been found in this grade, making it a coveted piece among collectors.
Read More: $4.569 Million Worth For This Rare Coin – Check If You Own One?
Key Details of the 1920-D Buffalo Nickel
| Feature | Details |
|---|---|
| Coin Name | 1920-D Buffalo Nickel |
| Mint Location | Denver Mint (D mark) |
| Top Auction Value | $138,000 (MS67 Grade) |
| Obverse Design | Native American composite portrait |
| Reverse Design | American Bison (believed to be Black Diamond) |
| Historical Significance | Part of the Buffalo Nickel series (1913–1938) |
| Authentication Services | PCGS, NGC |
Why This Coin Stands Out
The extraordinary value of this 1920-D Buffalo Nickel stems from its rarity in high-grade condition. Most coins from this era have been circulated extensively, leading to wear and tear.
Finding one in MS67 condition is exceedingly rare. The coin’s pristine state, combined with its historical significance and limited availability, contributed to its record-breaking auction price.
The Importance of Coin Grading
Coin grading plays a crucial role in determining a coin’s value. The Sheldon Scale, ranging from 1 to 70, is used to assess a coin’s condition.
A grade of MS67 indicates a coin with only minor imperfections, making it highly desirable among collectors. Professional grading services like PCGS and NGC provide authentication and grading, ensuring the coin’s legitimacy and condition.
Other Notable Buffalo Nickel Sales
The Buffalo Nickel series has seen several notable sales in recent years:
- 1915 Proof Buffalo Nickel: One of only 1,050 proof versions produced, a PR69 graded coin sold for over $240,000.
- 1916 Doubled Die Obverse Nickel: Featuring a prominent doubled date, a coin graded AU55 fetched $28,200 at auction.
- 1937-D “Three-Legged” Buffalo Nickel: Due to a die error, this variant is highly sought after, with one example selling for $99,875.
The discovery and subsequent sale of the 1920-D Buffalo Nickel underscore the potential value hidden in everyday items.
Whether you’re a seasoned collector or a curious individual, it’s worth taking a closer look at the coins in your possession. With the right knowledge and a bit of luck, you might uncover a piece of history worth a small fortune.
FAQs
What makes the 1920-D Buffalo Nickel so valuable?
Its value stems from its rarity in high-grade condition. The coin sold for $138,000 was graded MS67, a grade achieved by only one known example, making it exceptionally rare and desirable among collectors.
How can I determine the grade of my coin?
Professional grading services like PCGS and NGC can assess and grade your coin based on its condition, authenticity, and other factors. They use the Sheldon Scale, which ranges from 1 to 70, with higher numbers indicating better preservation.
Are there other valuable Buffalo Nickels I should look for?
Yes, variants like the 1916 Doubled Die Obverse and the 1937-D “Three-Legged” Buffalo Nickel are highly sought after and can fetch significant sums at auction, depending on their condition.
Where can I sell a rare coin?
You can sell rare coins through reputable auction houses, coin dealers, or online platforms specializing in numismatics. It’s advisable to have your coin professionally graded and authenticated before selling to ensure you receive its full value.