Lot 700
1918-S. NGC graded MS-65. Well struck, fully lustrous and untoned. The elusive quality of high-end 1918-S Buffalo nickels is well known in numismatic circles. Produced during World War I, the 1918-S was the casualty of economic events, in more ways than one. In order to save dies and prolong their life, the dies were, for the most part, spaced farther apart than standard to deliver strong blows to the coins, also, they were used far too long before being retired. David Lange explains this in his Complete Guide to Buffalo Nickels (third edition, 2006):
"This was done as a economy measure to reduce wear on both the dies and press and to thus extend their useful life. Such economy was practiced even more vigorously during the 1920s, as the budgets of most governmental departments were slashed by the parsimonious Harding and Coolidge administrations.
"The Buffalo Nickel was a coin of relatively high relief, and it did take quite a toll on the dies. These wore rapidly, and such erosion is often evident on the actual coins. The reverse dies in particular were used too long, as they didn't need to be discarded at the end of each calendar year. The combination of increased die-set distances and worn dies produced the mushy, disappointing coins so often seen in this series."
We are happy to say the present coin is a Gem example whose luster is its strong suit, shining energetically on both sides. The color is a wonderful nickel-bright sheen. The strike, far better than average, is particularly noteworthy on the reverse, where bold detail appears on the bison. With simply outstanding luster, delightful radiance, and a near-absence of contact, this piece deservedly merits a place in a top-rated set of Buffalo Nickels. Pop 14; 2 finer with 1 in 66, 1 in 66*.
Estimated Value $10,000 - 12,500.
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