Lot 582
1918-D Buffalo Nickel. 8 over 7. PCGS graded AU-55. Popular key date. Pop 17. Very clear overdate. A grade that is always in demand. Minor spot of verdigris on the jaw. Smooth russet gray toning throughout with exceptional and crisp detail in the legends, LIBERTY, and of course, the key overdate whose features couldn't be sharper! Any luster is muted beneath the afterglow of the toning. This is a generally well-struck example with key details present. It has no bothersome abrasions or points of wear outside of its stated AU55 grade, but as is often the case, the dies left their partly rigid impression behind with some modest weakness or imprecision only at the bison's shoulder and rear flank (PCGS # 3939) .
The 1918/7-D overdate rivals the 1916/1916 and 1937-D 3-leg nickel for the title of most admired and sought variety in the series. Though discovered as long ago as 1931, it remains scarce to this day.
The obverse die for this variety was made during the latter part of 1917 at the Philadelphia Mint in preparation for the next years coinage. It was during the final quarter of each year that the Mint's engraving department began preparing dies since the operation took weeks to supply the three mints with adequate numbers of obverse and reverse working dies. As described in David W. Lange's book on the buffalo nickel series, "a nationwide shortage of minor coins (cents and nickels) developed during 1917-18 and led to an unprecedented output of these. It is therefore easy to understand that dies for both 1917 and 1918 would have been in preparation during the latter months of 1917 to meet both current and anticipated needs.
"In sinking a working die, two or more impressions had to be taken from a working hub. Between each impression, the developing die was taken to the furnace to be annealed, or softened, since the first impression caused the metal to become work-hardened. It was then ready for another impression. Amid the haste to produce new dies, a working die that had already been impressed with a hub dated 1917 was then either inadvertently or intentionally given another impression from a hub dated 1918. The result was an overdate."
Estimated Value $14,000 - 18,000.
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