LOT Bowers and Merena Auctions  /  The April 2008 Chicago Rarities Sale  / 

218

1926-S Buffalo Nickel. MS-66 * (NGC).

Currency:USD Category:Coins & Paper Money Start Price:180,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1926-S Buffalo Nickel. MS-66 * (NGC).
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<span style="font-size: large;">Lot #218. 1926-S Buffalo Nickel. MS-66 * (NGC).</span>
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The 1926-S has the lowest mintage of any business strike issue in the entire Buffalo Nickel series of 1913-1938. Only 970,000 pieces were produced, which is also one of only two mintage figures less than 1 million coins posted by any regular-issue, business strike Nickel produced during the 20th century. The other issue in this highly select group is the 1912-S Liberty with just 238,000 pieces struck.
According to David W. Lange in the 2000 book <em>The Complete Guide to Buffalo Nickels, Second Edition</em>, the 1926-S is the rarest Buffalo Nickel in AU and Mint State. The author further describes Mint State examples as "very scarce," and he opines that Gems are "nearly unknown." Given the extreme popularity of the Buffalo Nickel series and the large number of collectors that are competing to assemble high-quality date and mint sets of this type, the 1926-S seems even rarer in Mint State from a market availability standpoint than it is in an absolute sense. Even low-end pieces in MS-62 do not appear at auction or in dealers' inventories with any degree of frequency, and the coins sell very, very quickly when they do become available. Perhaps needless to say, this situation is even more pronounced for examples that grade MS-63 or finer, such pieces almost always characterized by the above-average technical quality and relatively strong eye appeal that collectors find so appealing.
This is one of only a handful of Gem 1926-S Nickels that this cataloger has had the privilege of describing over the course of a numismatic career that has spanned 10+ years. This should come as no surprise to read for collectors that are aware of current PCGS and NGC population data for this issue at and above the MS-65 grade level. As of February 2008, PCGS has certified only 11 examples in MS-65 and no coins finer. NGC reports a mere six pieces in MS-65 (one example with a * designation) and two MS-66s, one with a * designation and one without that distinction. These figures yield a total of 19 coins certified in MS-65 and finer grades. It is unlikely that very many resubmissions are included in that total, but if we make allowance for a few such entries then a reasonable estimate for the number of Gem-quality 1926-S Nickels known would be 15-19 coins.
The paucity of Gem 1926-S Nickels in numismatic circles can be most easily explained by the relatively limited number of Mint State survivors. Poor striking quality also plays a part, however, as many '26-S Nickels were struck from worn dies that were probably retained from previous years. As a rule, the major third-party certification services will not grade Buffalo Nickels of any issue higher than MS-64 if one or both sides possess extremely soft definition. It is entirely possible, therefore, that there are some fully lustrous and overall smooth examples of the 1926-S that have been placed into MS-64 holders because of poor striking quality.
The present Gem, however, is not affected by bothersome lack of detail. The reverse die appears to have been relatively fresh when this coin was struck, and the overall definition on that side is sufficiently bold and well above average by the standards of the issue. The same can also be said for the obverse, and the strike that this piece exhibits is superior to that seen on the plate coin on page 130 of the aforementioned Buffalo Nickel book by David W. Lange. We call particular attention to the letters in the word LIBERTY in this regard, which are indistinct near the rim on the plate coin but fully defined on the present example. The central highpoint definition that this piece exhibits is also bolder than that evident on the Lange plate coin.
As important as the striking quality is to the desirability of this coin, it is not the only impressive attribute. We note a full endowment of satiny mint luster, as well as beautiful toning in a dominant orange-copper shade. The patina evenly blankets both sides, but it does reveal mottled powder-blue, pink and orange-apricot undertones when the coin dips into a light. There are no distracting blemishes, and the eye appeal easily upholds the * designation from NGC. This coin lays serious claim to the title of "finest known" for this key-date Buffalo Nickel, and it is a coin that would confirm the importance of whatever collection in which it is included.


<span style="font-size: smaller;">Cert Number: 3128395011 </span>
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<tr class="AuctionTitleDetail" style="background-color: E0CA7A;">
<td class="AuctionListingsHeadings" valign="top" style="height: 20px; white-space: nowrap;">
Purchase Amount
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<td class="AuctionListingsHeadings" align="right" valign="top" style="width: 75%;">
Postage And Insurance
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</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl02_PurchaseAmountTemplate">$0.00 to
$200.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl02_PostageAmountTemplate">$6.50</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl03_PurchaseAmountTemplate">$201.00
to $300.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl03_PostageAmountTemplate">$9.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl04_PurchaseAmountTemplate">$301.00
to $1,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl04_PostageAmountTemplate">$10.50</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl05_PurchaseAmountTemplate">$1,001.00
to $2,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl05_PostageAmountTemplate">$13.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl06_PurchaseAmountTemplate">$2,001.00
to $3,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl06_PostageAmountTemplate">$17.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl07_PurchaseAmountTemplate">$3,001.00
to $5,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl07_PostageAmountTemplate">$18.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl08_PurchaseAmountTemplate">$5,001.00
to $10,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl08_PostageAmountTemplate">$23.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl09_PurchaseAmountTemplate">$10,001.00
to $25,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl09_PostageAmountTemplate">$27.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl10_PurchaseAmountTemplate">$25,001.00
to $50,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl10_PostageAmountTemplate">$42.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl11_PurchaseAmountTemplate">$50,001.00
to $75,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl11_PostageAmountTemplate">$55.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl12_PurchaseAmountTemplate">$75,001.00
to $100,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl12_PostageAmountTemplate">$70.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl13_PurchaseAmountTemplate">$100,001.00
to $250,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl13_PostageAmountTemplate">$100.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl14_PurchaseAmountTemplate">$250,001.00
to $500,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl14_PostageAmountTemplate">$175.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl15_PurchaseAmountTemplate">$500,001.00
to $750,000.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl15_PostageAmountTemplate">$250.00</span>
</td>
</tr>
<tr class="LotDetailInformation">
<td class="AuctionListings" valign="top" style="white-space: nowrap;">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl16_PurchaseAmountTemplate">$750,001.00
to $99,999,999.00</span>
</td>
<td class="AuctionListings" align="right" valign="top">
<span id="ctl00_cntBody_FAQ1_grdShippingRates_ctl16_PostageAmountTemplate">$400.00</span>
</td>
</tr>
</table>


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Bowers and Merena Auctions was founded in 1983 and has grown to become the world's
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