Lot 3906
1937-D Buffalo Nickel. 3 legs. NGC graded MS-65. Well struck and light gold toning. Outstanding Gem BU. A satiny matte-like gem with resilient underlying luster and brilliant highlights. From center to periphery, the coin is generally well struck with just a hint of weakness at the bison's shoulder.
This intriguing die-polishing error was the first of its kind to come to the notice of collectors. Discovered soon after its issue, 1937-D 3-leg nickels were advertised for sale in an advertisement in The Numismatic Scrapbook Magazine as early as 1937-38. The variety was caused by polishing of the dies to remove clash marks. Die clash occurs whenever 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 noticed, usually results in the replacement of both dies. In the case of the 1937-D 3-leg nickel, however, the choice was made to go with a more expedient solution: removal, repolish, reuse. Very few Gem Uncirculated 65-quality examples are known. (For a more detailed account of this popular variety, see David W. Lange's The Complete Guide to Buffalo Nickels.) Pop 47; 17 finer; 16 in 66; 1 in 67 Star.
Estimated Value $21,000 - 23,000.
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