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Cryptocurrency News Articles
This RARE coin was sold at an auction for $90,000 because of one specific detail on the front of the coin
Sep 10, 2024 at 12:25 am
The 1917-S Buffalo nickel has engravings on it that are exceptionally "sharp" which do not appear often in common coins.
A RARE coin was sold at auction for an incredible $90,000 thanks to one specific detail on the front of the coin.
The 1917-S Buffalo nickel has engravings on it that are exceptionally "sharp" which do not appear often in common coins.
This particular nickel was the only piece graded so high by the Professional Coin Grading Services (PCGS) because most of its kind feature "weak" strikes.
According to the PCGS Certification Database, this specific coin was sold for $90,000 on August 20, 2023.
This Buffalo nickel has "full design details on both sides with a bold hair braid on the obverse and a split tail on the reverse," according to the Heritage Auctions website.
The coin also has "sharp" date numerals and the word LIBERTY is separated from the border.
The Buffalo nickel is a five cent coin that depicts a Native American on one side and a buffalo on the other.
It was designed by sculptor James Earle Fraser in the early 1900s as part of the US Mint’s campaign to beautify American coinage.
These coins were produced at the Philadelphia, Denver, and San Francisco Mints from 1913 to 1938.
"Just over 4 million nickels were minted in San Francisco in 1917 and most survivors grade no finer than MS65," according to the PCGS website.
The Buffalo nickels were difficult to make as the coins tended to strike inconsistently. The details and engraved also faded quickly once the coins were in circulation.
As a result, the US Mint decided to discontinue the production of the Buffalo nickel - making this 1917-S coin a rarity.
This $90,000 coin is composed of 75% metal and/or copper and 25% nickel.
"The surfaces display brilliant and satiny light gray luster with delicate gold and pale blue toning on each side," the website said.
Currency experts have claimed that the MS-67 coins are highly sought after by collectors and are considered to be some of the finest classic US coins.
These coins can be recognized by a sharp strike, full original luster, and an above-average eye appeal.
A coin's value and rarity can be determined by several factors, including:
Mintage: The number of coins produced at a specific time and mint. Coins with a lower mintage are generally rarer and more valuable.
Design variations: Coins that possess unexpected errors in the minting process, such as double strikes, off-center minting, or die cracks.
Historical significance: Coins that depict or symbolize significant events, people, or periods in history.
Regionality: The geographic origin of a coin or where it was made can affect its rarity.
Age: Older coins may be more rare and valuable because they were often mishandled or cleaned.
Supply and demand: The more interest there is in a coin, the more it will be worth.
Population estimate: The rough number of how many of that coin type exists in all collections.
A TikToker (@WheatstoShields) revealed the exact detail on a nickel that could increase its value by hundreds of thousands of dollars.
She said the 1816 Buffalo nickel has a doubling feature that values the coin at $300,000.
A doubled die nickel has duplicated design elements that are caused by a misalignment of the die (or hub) during the hobbing process.
This is also known as hub doubling.
When an incorrectly-made die is used to strike coins, each coin will have the appearance of two images on a single coin, such as duplicated letters, numbers, or words.
And experts revealed the exact year on the front of your penny to make it worth $840,000.
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