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Gold Buffalo Nickel acquired by top PCGS Buffalo Nickel Registry Set owner for $400k!
Zoins
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Nice update on the gold buffalo nickel. It was just acquired by JDG Trust, the owner of the top ranked PCGS Buffalo Nickel registry set, for a very nice price. Seems like it ended up in the right place given the owner's focus on buffalo nickels. Anyone know who JDG is?
Here's one of JDG's registry sets for circ buffs with major varieties, winning awards from 2008 to 2022.
BUFFALO NICKELS WITH MAJOR VARIETIES, CIRCULATION STRIKES (1913-1938)
Given the focus on PCGS Registry Sets, it will be interesting to see if / when this gets crossed back to PCGS.
Read more in this MintErrorNews article by Mike @Byers. Congrats on the sale Mike!
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An incredible coin... And what a thrill it must have been to be part of the discovery group in 2019. A totally unknown specimen, for over 100 years, just suddenly appearing. Cheers, RickO
Yes, the unique gold Buffalo Nickel is an amazing and exciting new discovery. I was very pleased that it found the perfect home in the top ranked PCGS Buffalo Nickel registry set. Congratulations to the new owner!
The original gold buffalo. How do they know it's a mint error and not some strange pattern coin?
Young Numismatist
I think it takes more than an off-metal planchet for a coin to be considered a pattern.
peacockcoins
Pretty sure it is an error not a pattern, 99.99% sure. It appears to come from circulation strike dies that are worn. The reverse has clash marks while the obverse does not. ( Solid 3rd feather and no chin whiskers.) Does not appear to be a mated pair of dies.
Under the loupe, this coin is fascinating and absolutely beautiful. It will be the centerpiece of the collection. However, there are so many questions about this coin that it might drive me crazy!
One can only Dream of a coin like that, but like someone said how was this kept secret for over a hundred years, someone at the Mint must have made this in the "Off" hours. and was kept by a Family member all those years what a terrific piece to have. If only you could find out the history to go along with it.
@braddick if I understand correctly, don't coins purposefully struck on different metals count as patterns? I am not saying I think this is a pattern, because I don't, but how do they (NGC, everyone else) know that it isn't? I mean, throughout the 19th-20th centuries the Mint made several hundred patterns for sale to collectors that were basically just normal designs struck on different metals like aluminum.
Just trying to learn.
Young Numismatist
As mentioned in the Mint Error News press release on the 400k sale of the Gold Buffalo Nickel, there are several possibilities:
“Struck during the era of the five known world famous 1913 Liberty Head Nickels valued at millions each, this unique Gold Buffalo Nickel is either a mint error or a piece de caprice. It was likely made for a Mint official or a famous numismatist. It also could have been struck for presentation purposes but is not listed in Judd as a pattern.”
This coin is most likely not a pattern. I have said I am 99.99 % sure of this. To be a pattern coin 1) It would have been produced to evaluate a proposed coin design. This is not the case here as it was made with existing worn 1913 TY 2 dies. The reverse even has clash marks. 2) Patterns are often made of off metal as this one clearly is. However gold is way out there for "off Metal" for a 1913 TY 2 Buffalo Nickel. 3) Patterns are usually made to proof standards. This coin is again clearly not.
So I think this is not a pattern. However, it is a very cool coin and I hope to know how it came about one day, kind of like the 1913 Liberty Nickels.
This coin is most likely not a pattern.
A coin would have been produced to evaluate a proposed coin design to be a pattern. This is not the case here, as it was made with existing dies.
So I think this is not a proper pattern. However, it is an exciting and neat coin worthy of consideration.
peacockcoins
What an amazing thing, I like
The last public sale of this item was for $78K by Heritage three years ago. Now it is announced it sold by private treaty for $400K, but this is not publicly verified.
Mike @Byers wrote that he sold the coin for that price in MintErrorNews:
Is this different than any other private treaty sale or even retail sale?
Are you thinking that the only sales that can be "publicly verified" are auctions when many people are looking at the auction together in real time?
@Zoins
Correct!
A Unique GOLD Buffalo Nickel has been sold by Mike Byers Inc for $400,000 to the JDG Trust, owner of several #1 ranked PCGS registry sets of Buffalo Nickels.
The Price and Buyer were announced.
It's great that the buyer was announced. They could always dispute this if there was an issue.
A 1916 Buffalo Nickel DDO sold for $281,750.
A 1918/7D overdate Buffalo Nickel sold for $350,750.
Is the Gold Buffalo Nickel sale at 400k the highest price that a Buffalo Nickel has sold for?
@Zoins
Obviously.
Most private treaty sales are not made public.
This 400k sale went into his Trust.
The fact that I mentioned his Trust, and the fact that he has the #1 PCGS Buffalo Nickel Registry Set, is obviously more than enough information to share.
it's better if it's called an error rather than a pattern because some funny business unauthorized pattern might be subject to confiscation like the 1933 double eagles, not that I agree with the reasoning of that evil empire lawsuit
The 1933 double eagles aren't patterns, but the 1974 aluminum cents are.
Regardless of it’s classification as an intentional mint error, accidentical mint error, or pattern, it is a world-class unique numismatic discovery!
Did anyone else see this coin on eBay recently? I know it was there, it can't be found in the "completed listings" category, though. Here's the only evidence I have:
Can't remember the asking price.
Edit: sorry for the not-very-cropped image. As for the grainy appearance, that's how it looked on my screen.
Young Numismatist
What a beauty of the Century 🥰 wished to see it up close & personal.
Me too!
I had it listed on ebay at 500k.
And on my website.
As discussed in this thread, it sold for 400k.
What a trophy coin!
This would fit nicely in a collection of one!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I agree! It's a unique, amazing coin. How many amazingly popular coins have a single gold, off-metal specimen? The gold Lincoln cent is the only other one I can think of but that hasn't been seen in so very long. IHCs have a few in gold but they are less popular. The 2 gold Pan Pac Half Dollars are awesome but also less popular as commems. Finally, the gold Sacs are impounded at Fort Knox.
This is really incredible since it’s a unique gold specimen of the seminal and very popular all-American coin. That it happens to have the same date as the 1913 Liberty nickels and was struck during the design transition makes it that much more special.
While the current owner, JDG Trust, has an entire collection of buffalo nickels, this is truly a trophy coin, up there with the 1913 Liberty Nickels my opinion. I wonder if there will ever be a situation where it's sold at a stand-alone, trophy coin level.
CoinWeek picked up the sale of the gold Buffalo at 400k…
And 2 collectors ( who I have heard of but have not done any business with yet) both called and said that they saw the CoinWeek article and would the seller be willing to sell it and at what price.
I will pass this new information to the buyer but I am under the impression that it is not for sale and was a perfect addition to his PCGS Registry Set of Buffalo Nickels.
https://coinweek.com/coins/error-coins/unique-gold-buffalo-nickel-sells-for-400000/
Congratulations to the new owner on this truly unique piece of US numismatic history.
I am constantly amazed at the unique coinage that Mike puts on the market.
Thanks Chris!
I try to specialize in unique mint errors, die trials, patterns, and ‘exotic’ coins!
Or buy the 2008 Unc. 1/4 oz buff at 1500.....LOL
On a separate note, not sure if private sales count as to records though?
Well, just Love coins, period.
Deleted comment. Obvious question.
Young Numismatist
Nope, I was being diplomatic and then making a bit of an offhanded joke.
Well, just Love coins, period.
Hello everyone,
First of all, I am proud to say that I am the new owner of the 1913 ty 2 Gold Buffalo Nickel. Secondly, I would like to thank Mike Byers for being part of the "Discover Team" AND also thank him for making this transaction go as smoothly as it did. It is most likely a record setting Buffalo Nickel price and Mike made it seem like a walk in the park!
Third , I would say this unique nickel is not for sale. I will give some reasons for this.
Number One Reason: I have been collecting Buffalo Nickels my entire life but in earnest over the last 20 years. I never dreamed I would have the #1 sets in this competitive category especially with two Hall of Fame sets dominating the series. So early on, I chose to concentrate on the Buffalo Nickel Major Varieties, Varieties and Minor Varieties. After a number of years, I was #`1 in most Variety Sets. I built these sets one nickel at a time and it has taken 20 years. Then a funny thing happened. My basic sets started creeping up on the two HoF Buffalo Sets. First I passed up The Tom McCarroll set. Then to my surprise, last year I passed up the second HoF Buffalo Nickel Set, the undisputed King of Buffalo Nickels, Gerald Forsythe. It has been a fun and adventurous ride over these 20 years getting my coins via auctions, private treaties and cherrypicking at shows etc. I have put a lot of time and money into this endeavor only to recently find out my set was not complete. I was missing the 1913 Gold Buffalo nickel. Now I am the proud owner of this coin and I see no reason to have my set incomplete again.
Number Two Reason: I may be a little off base, but I think there is some connection between This unique 1913 Gold Buffalo and the five 1913 Liberty Nickels. Could they all have been made at the same time? Could they have been made by the same mint employees? They are all dated 1913, they are all nickels, and they all came from the same Mint. The 1913 Gold Nickel was unknown for over 100 years, that means a descendent of the mint employee must have brought it to the light of day in 2019. In any case, there are too many unanswered questions and someone out there knows the answer. I will wait for them.
Number Three Reason: I believe I got a fantastic bargain at $400,000. Forgetting any potential relationship with the 13 Libertys, A Gold Pan Pac Half recently sold for $750,000. This could lead the way for the 1913 Gold Buffalo and I think it can become a seven digit coin.
Number Four Reason: Simply put, this nickel is just way too cool and it's uniqueness is mind blowing.
So that is my story as it relates to Buffalo Nickels. You can call me Jim.
Heritage uses private treaty sales prices in their descriptions of many expensive, rare, famous, and unique coins.
Not every numismatic item in this arena is sold in public auction.
Here is one of many examples used by Heritage, mentioning a private sale of a coin at over 5 million dollars.
“The most recent sale of a New York-style doubloon showcased the MS63 NGC example in lot 5100 of the FUN Signature (Heritage, 1/2014), which realized a record price of $4,582,500. It resold in 2018 for more than $5 million to a private collector via Heritage Auctions. The unique punch-on-breast coin in AU50 condition as certified by PCGS reportedly sold privately for $7.4 million in December 2011.”
So of course private treaty sale prices are used!
Jim- it was a pleasure selling you the unique gold Buffalo Nickel at 400k.
It has limitless upward potential and you mentioned a few of the reasons why!
Once again, congratulations on your purchase!
Mike Byers
Nice to have the owner step forward and introduce himself. Hell of a coin, Jim!
Welcome to the forum @lunagately
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Welcome Jim! You picked up an amazing coin at a great time and a great price!
I really think this is one of the most amazing coins of all time, if not the most amazing! It really is a candidate for the most amazing to me because it’s unique, gold and of the most All American circulation design, which also happens to be super popular.
I applaud you for going out and getting this coin for your collection.
And of course Mike @Byers is great! I’m glad to hear you had a very smooth transaction!
Moment in the sun. Congratulations. That is a very nice coin and example of what I believe is the finest US coin design.
I would say that private sales are cited sometimes, but generally do not go down as records because of lack of verification. That said, even some public auction sales that might be "official" are not always so crystal clear.
I am not suggesting anything else.
Well, just Love coins, period.
Thanks for the warm guys and the congrats!
Sad that some idiot did a test cut. There were other ways to verify that it was gold.
I wonder what it would have been worth without the damage?
Typo alert, it should say "Thanks for the warm welcome guys and the congrats!"
One theory is that it was done before non-intrusive methods were available such as XRF guns. If so, it adds more to the history and potential legitimacy of the piece as an error.
Specific Gravity has been around since Archimedes. For something so rare, even in 1913, that test could have been performed.
AU?? It has wear? It circulated?
Here's the link to the fleabay buy it now offer at $500,000
https://www.ebay.com/itm/275227885650?
Anybody read the harsh editorial COIN WORLD printed concerning their view of illegal status of pieces de caprice error coins in current issue on new stands till July 11th 2022.
In my opinion, it will be worth 750k in the not so distant future.
After Jim purchased it, I obviously ended the ebay listing and put it in my archive ‘sold’.
https://mikebyers.com/6324417-001.html
It’s nice that it says no longer available! It’s neat to see such a high price for eBay and then for it to no longer be available. It’s worth saving a screenshot for posterity!
I haven’t yet but I don’t think this applies here. Opinions from Tom DeLorey and others is that this is legit.
It might be worth starting a separate thread so coins that fit can be discussed. I’ll just say here that there are always naysayers so buy what you like. For example, there’s a lot of harsh reactions to 1913 Liberty nickels and 1804 dollars, but that’s not for this thread. So start a thread and let’s discuss there if you want.
LindyS
This thread is about Jim’s purchase of the sale of my Gold Buffalo Nickel for 400k.
Feel free to start your own thread about proof errors. I’m sure people will respond to your thread. I will.
The CoinWorld one page editorial is about old news, what occured 50 years ago. Bill Gibbs is entitled to his opinion obviously.
Curiously, in the same edition is a glowing multi-page article by Steve Roach, reporting on the record prices that proof errors have been realizing in Heritage, StacksBowers and Great Collections.
Everyone knows about the oil pans. This ‘news’ is 50 years old. The U.S. Government obviously knows!
Everyone knows about the state of CA auctioning off proof errors after examined by the Secret Service. This ‘news’ is 20 years old. The Secret Service is part of the U.S. Government so obviously they know.
It’s old news.
Interesting. I haven't read the article yet so I didn't realize the article Lindy referred to is about those modern proof errors. Those really are kind of irrelevant and off topic here.
Yes! This is part of what makes this coin SOOOO interesting!