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Sale 72
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Lot 1178
1919-S. PCGS graded MS-65. CAC Approved. Housed in an Old Green Holder. Lovely blue and golden toning. Nice luster on both sides. A better than average strike. Clear mint mark. The increase of worn Nickel dies in the San Francisco Mint during the late 1910s--and the lack of inhibition among employees at that facility from using those dies--explain why the 1919-S is one of the most poorly produced issues in the Buffalo series, quality control at this mint lagged far behind the production standards of Philadelphia. The reverse is typically much more softly defined than the obverse, and both the central highpoints and the peripheral devices can be affected by this feature.
A superior-quality example in all regards, this outstanding Gem belongs in the finest Buffalo Nickel set. A date where low-population statistics rule, the strike on the reverse is well above average, and we note only trivial softness of detail to the bison's head and shoulder, as well as at the tops of UNITED STATES above. Even so, the overall appearance on that side of the coin is surprisingly bold, while the obverse is even sharper. Satiny luster is really vibrant--another notable feature for what tends to be a dullish issue—further, there are no distracting abrasions or other blemishes. A virtually brilliant offering for the quality-conscious Buffalo Nickel collector. Pop 31; 3 finer in 66 (PCGS # 3943) .
Monetary history of the period: The money supply in the U.S. doubled in WWI (1914-18), and prices doubled as well. The incoming administration of 1919 decided upon the same policy as 1866-1879, withdrawing the war-created money from circulation and restoring prices to their pre-war level. Since these fine gentlemen (for the most part) were "cigar-filled-room" types and since cigars had gone from 5¢ to 10¢ during the war, they expressed this by saying "What the country needs is a good 5¢ cigar." They won the election of 1920 and were able to help bring wholesale prices down (with a big assist from natural market forces) in two stages, 1921 and 1930-33. By 1933, prices in the U.S. were back to their level of 1914, which in fact was the same price level that Daniel Webster had noted for Boston in 1815 and which had prevailed over the country in 1793--140 years of relative price stability.
Estimated Value $12,000 - 13,000.
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| Realized $16,675 |
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