Lot 1244
1937-D Buffalo Nickel. 3 legs. NGC graded MS-66. Housed in NGC holder 1295956-010. Untoned gem. While auctions typically list a reasonable number of circulated, and even a few lower-end Mint State 1937-D 3-Legged nickels each month in the United States, seldom do collectors get the opportunity presented to them to acquire a first-rate Gem. With full, soft-frosted luster and no distracting spots or marks to affect its originality, this is just such a specimen. Both sides are coated in pale golden-gray nickel iridescence that enhances already superb beauty of the piece. The strike, unlike far too many, is most pleasing: bold throughout the key features including all but the shoulder of the bison's body on the reverse. The visual impact given is strong for the Mint State 66 grade. There is no doubt that this is a remarkable coin. A coin that would serve as a showpiece in any specialized buffalo nickel collection. Identifiable by a tiny diagonal mark on the buffalo's foreleg. Pop 15; 1 better in 67 Star.
This die-polishing variety was the first of its kind to attract the attention of collectors. Discovered soon after its issue, 1937-D 3-leg nickels were advertised for sale in an ad in The Numismatic Scrapbook Magazine as early as 1937-38. It is believed that a fair number surfaced in the Montana region. The variety was caused by excessive polishing of the dies to remove clash marks. Die clash occurs when the feeder mechanism of a coin press fails to deliver a planchet, the dies strike one another, and each receives an impression of the opposing die. This disfigurement, when discovered, usually results in the replacement of both dies. In the case of the 1937-D 3-leg nickel, however, the urgency of completing a coinage run precluded this customary practice, and a swifter solution was sought. Very few Uncirculated examples are known, coin collectors being equally scarce in that part of the country, it seems. (For a more detailed account of this popular variety, see David W. Lange's The Complete Guide to Buffalo Nickels.).
Estimated Value $30,000 - 35,000.
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| Realized $40,800 |
