PCGS crosses Unique Gold Buffalo Nickel to a straight graded holder
Byers
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PCGS just crossed from NGC, the unique gold Buffalo Nickel to a straight grade holder.
Jim Gately is the proud owner who purchased it from me for $400k. Congratulations!
It was the cover story of a recent issue of Mint Error News. Once it sold, a press release was issued.
https://minterrornews.com/issue63.pdf
https://minterrornews.com/news-6-29-22-unique-gold-buffalo-sells.html
mikebyers.com Dealer in Major Mint Errors, Die Trials & Patterns - Author of NLG Best World Coin Book World's Greatest Mint Errors - Publisher & Editor of minterrornews.com.
15
Comments
Why the change of heart?
Let me clarify. Why did pcgs decide to straight grade the coin now versus a details grade prior?
Publicity.
In honor of the memory of Cpl. Michael E. Thompson
The NGC holder pictured in the ad is a straight graded holder. It's an AU53 Mint Error holder just like the PCGS holder.
That's a rare Buffalo , unlike a rare steak. Tastier, too.
Looks like a details grade post mint damage coin to me,,,,,,, still a very neat coin and does the grade really matter?
What idiot would cut it like that anyway?????
Here’s the original:
https://coins.ha.com/itm/errors/1913-5c-type-two-buffalo-nickel-struck-on-a-half-eagle-planchet-test-cut-pcgs-genuine-au-details/a/1326-4052.s?ic4=ListView-ShortDescription-071515
Wow what a cool coin. Too bad about the test cut through.
Would have loved to been present for the test cut. That's not real gold...yes it is...I'll show ya!
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Incredible piece... Purposely made... Does anyone know the true history (Not collectors but who made it...)
If it is in the article will admit laziness...
Those were tired dies that struck that piece. Notice the clash mark on EPU.
The dies were reworked before striking the Gold Planchet.
Pete
Congratulations on the cross.
One of the coolest error coins of all time.
Was not the NGC holder, with the proper mention of the test cut, also a straight grade holder?
What am I missing here?
Some serious profit was had with this damaged coin.
The white balance in the slab photos above seems really off and it is difficult to tell it’s gold. Here’s the True View.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Yes, NGC straight graded the coin. I think I remember NGC coming out with a statement saying that historically significant errors like this one should be straight graded even if they have some problems due to the importance of these type of coins. Pcgs did not have this mindset when they first graded the coin, and now they apparently agree with ngc’s philosophy.
For the record, I also agree this coin should be straight graded. I’m just wondering what changed at pcgs? Did Jon Sullivan assist in getting the coin graded, or did Steve Feltner get a say?
Great coin in a great holder!
Congrats to Jim Gately, Mike @Byers, PCGS and the TrueView team!
By the way, here's my quote from Mint Error News
CaptHenway- it originally was certified by PCGS in a detailed holder, now straight graded.
keyman64- yes!
I split it with another dealer at $78k from the Heritage Auction.
Then sent it to NGC where it certified AU 53 straight grade.
Sold it for $400k.
Then it crossed to PCGS straight grade.
It’s truely a world class unique mint error!
Hi All. I am Jim and I own this Fantastic Buffalo Nickel. I want to clarify and or try to answer, from my perspective, some of the coments or questions in this thread.
1) Why did PCGS change their mind and straight grade this coin?
My answer: I can't answer for PCGS. What I can say is I approached PCGS and told them this is the most Unique, Valuable, Rare, Unusual and Unknown Buffalo Nickel of all time. Yes it has a test cut but many coins have been straight graded by all the top grading companies with much more than this, depending on their importance. Additionally, this coin has been unknown for over 100 years. So doesn't this extremely special Buffalo Nickel, one of the Top Error coins of all time, deserve to be included with the Finest All Time Buffalo Nickel set? Apparently they agreed.
Also, I guess I am a Buffalo Nickel purest. Simply look at my Buffalo Nickel sets. I have the Number One Buffalo Nickel Sets in 12 of the 13 Buffalo Nickel categories. It has taken me over 20 years get here and I think these sets present the finest Buffalo Nickels known. So in my humble opinion, the Gold Buffalo needs to be included with the finest PCGS Buffalo Nickel Sets.
2) The dies are not only clearly worn but die clash is present. I don't know the origin of this Buffalo Nickel but without a doubt it was from worn dies, made by mint employees at the mint in Philadelphia and alcohol may have been involved.
3) The True View image of this coin is good except it does not present the test cut properly on the reverse. It is way too dark which must be due to lighting. The picture at the top of this thread started by Mike Byers is a very accurate photo. It does accurately present the test cut.
4) Now that this Buffalo Nickel is where it belongs, I will move on to step two. Step two is to try to find out who made it, why it was made and why was it unknown for over 100 years. (And if alcohol was involved).
I again want to thank Mike Byers for making everything go so smooth. He is the Best!
Additionally, Thank You PCGS. You got it Right!
Jim
Jim- thanks for the compliment!
And once again congrats on your amazing purchase of the unique gold Buffalo Nickel!
Having seen this coin in my hands raw, and in both PCGS and NGC holders…
The PCGS images at the start of this thread accurately show the color, test cut, and remaining luster exactly as it would look if you were viewing it in your hands.
Zoins- thanks for your quote. Additionally, thanks for all of your research on your articles for Mint Error News.
No CAC sticker. Pass!
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
An amazing coin... Looking forward to the backstory on this unique coin, if it can ever be determined..... It had to be somewhere for a hundred years, determination of that point could likely indicate something about the origin. Cheers, RickO
Congratulations! Well done.
I'd be interested to know if the usual suspects from other, much more higher profile, 1913 shenanigans coins were involved. Perhaps it's origins can be discovered, perhaps not. Good luck!
Congratulations on adding this to your collection!
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I predict the next stop for this coin will be CACG.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It’s a unique coin. No need for CAC.
I'd like to know too. That's a lot of wear on the coin. It had to circulate at one time.
This "1913 Thing" --- (happens to also involve Nickels) is strangely coincidental.
I venture to opine that the Gold Planchet got stuck in a tote bin and was coined with regular nickel blanks at a later date.
It makes sense - only because the wear on the coin proves it made it to circulation. If a bunch of nefarious people made it as a one-off, It should be uncirculated with only cabinet wear at the very most. There's no doubt that the coin wouldn't have gotten away from them from the git-go.
With the extra security and extra care involved with coining Gold, when that planchet came up missing, they must have practically tore down the place to find it.
Anyway, that's my take on it.
Pete
Hi All, it is Jim again,
The future of the Gold Buffalo Nickel has come up in this thread, so I will clarify the situation.
The only place the Gold Buffalo needs not be is with the #1 Buffalo Nickel Sets. That's PCGS. It is so rare and unique such that it needs no further approvals from anyone.
Thanks, Jim
I totally agree with Zoins and Jim!
The only place it belongs is with the PCGS # 1 Buffalo Nickel Set.
Typo alert, second sentence should say: "The only place the Gold Buffalo Nickel needs to be is with the #1 Buffalo Nickel Sets."
nice cross. Maybe something have to do with the submitter. Anyway it is a great error coin. I bet many have wish they should had bought it at HA when it was available and cheap.
great story for a rare error coin.
Here's the previous TrueView to compare where the shadow on the test cut area appears lighter.
I agree the lighting makes that area look very dark which is likely not the way it looks in hand when you can rotate it in the light easily. Here's a close ups of the Mint Error News photos by themselves.
Zoins- yes, lighting makes a difference. When I photographed it for the Mint Error News article, there was no darkness when rotating it under lighting.
You might contact Phil in the photo department. They usually take several alternate shots of each side. Maybe they have one reverse shot that shows the cut area better.
- Bob -
MPL's - Lincolns of Color
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Although I have not seen the coin since it’s gone through its numerous plastic homes,
When I saw and authenticated the coin for PCGS, raw at the Long Beach show years ago, it was much nicer looking and had much nicer surfaces closer to the original two photos in this thread – not at all like the TV photos shown above- I suspect it looks the way I remember it and not shown in those photos above
Fred- it looks exactly the same as the day when Sil and I brought it to you at Long Beach.
It’s just the lighting that makes it appear different.
The images in the PCGS holders are exactly how it looks.
Now, that's an error that I'd like to own.
Tremendous investment potential. IMHO.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Here are additional images prior to slabbing:
It's a pretty cool coin. The original gold buffalo.
I love the close ups of the die clash, metal flow and die cracks
I speculate that when that coin hit circulation and some one saw it for what it is decided to see if it was really gold. If it was done at the mint it would have either not left the mint or not have a cut. If it left the mint by an employee it would be more likely to remain uncirculated. And no test cut for they would already know it was gold
I’d love to have it cut or no cut. But straight grade it should not be. However it really doesn’t matter the coin is what it is unique
I guess it needs to straight grade to be in the registry?
Martin
There are 6 and 7 figure coins both in PCGS and NGC straight graded holders…
With graffiti, punch marks and/ or damage.
Some unique and very expensive coins occasionally get the benefit of the doubt.
Agree Great pics. Can we also get a close-up pic of the test cut?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
As for the wear, could it maybe once have been carried as a ‘pocket piece?’
First, a big congratulations to both the new buyer and seller! That’s SOME gold coin!
I think if it were my coin, I just don’t believe I could have parted with it, even for $400k!
It’s unique, and there’s just not many unique gold coins floating around. True, that’s a lot of money but that’s a lot of coin! And coins like that only increase in value over time.
I guess I would have wanted the coin worse than the $$.
But shucks, that’s just me"😂
I will check my files to see if I took a close up of the rim cut.