PCGS MS65+ 1918/7-D Buffalo Nickel Sells for Record $511,875 in GreatCollections Auction

On February 11, 2024, a stunning 1918/7-D Buffalo Nickel graded PCGS MS65+ rattled the coin market arena when it sold for an impressive world-record price of $511,875 at a GreatCollections auction. The PCGS MS65+ label makes it one of the highest-graded examples in existence. PCGS has only graded four total examples in MS65+ condition for this variety and no other coins are graded higher.

The 1918/7-D Buffalo Nickel is a variety that really needs no introduction, as it is one of the most popular and prominent overdates in numismatics. The overdate is so strong that it can easily be seen even with the naked eye. One of the reasons this variety exists is more than likely due to the large demand for small coinage during the time. Mintages for Buffalo Nickels from 1916 and after were significantly higher, which, in turn, made things more challenging for the mint to keep up with the increasing demand. This is how the 1918/7-D Overdate Buffalo Nickel is believed to have been produced; due to the high coin demand, mint employees must have made a mistake when impressing the design onto the coin dies and somehow ended up hubbing two dates on the die, resulting in a 1918/7 overdate.

This prominent overdate variety was not widely recognized until the early 1930s. Even then, few examples were reported at auctions or in any known records from that time, proving how scarce this variety was even then. Today, this famous variety remains scarce in any condition, while it is much rarer in uncirculated grades. PCGSCoinFacts.com estimates that about 7,000 examples exist in all grades combined. That is a relatively low number for a coin issued for circulation, and especially for a coin in one of numismatics' most popular coin series.

The example that was recently sold by GreatCollections recently is a really nice coin. The obverse and reverse have overall clean fields and a sharp strike, giving it excellent eye appeal. Seeing this example sold at auction was a real treat. Congratulations to its new owner for acquiring one of the most exciting varieties in numismatics!