What makes a 1938-D Buffalo nickel worth over $16,000?
TahoeDale
Posts: 1,785 ✭✭✭
I remember as a kid the easiest to find nickel being the 38-D. I had 2 or 3 raw, that in later life certified as 64, 65, and 66. I paid 25 cents for each.
But today, in a national auction, a MS 68 is now bid over $16,000. PCGS has graded 8, and NGC even more. While the series is one of the most popular, I find it difficult to understand the demand and value of this generic date.
The same might be said of a recent sale of a 1941-S Walker- over $90,000 for a date that in the next lower grade sells regularly for under $2000. And the $90,000 coin is one of about 7.
Condition rarity (even the highest graded) should not be valued this high, IMO.
True rarity( by mintage and survival) has taken a back seat to the popular series, and it may be due(only?) to Registry fever. I am a strong supporter of the Registries, but a warning needs to go out to the collectors that will pay such prices for common dates in ultra-high grades. These coins will never retain their most recent pricing,
OR
The rare dates in series like the Barbers and Seated that are lagging behind need a ton of collectors to increase the demand.
OR
I need to start looking more closely at the Buffalos I have not certified
But today, in a national auction, a MS 68 is now bid over $16,000. PCGS has graded 8, and NGC even more. While the series is one of the most popular, I find it difficult to understand the demand and value of this generic date.
The same might be said of a recent sale of a 1941-S Walker- over $90,000 for a date that in the next lower grade sells regularly for under $2000. And the $90,000 coin is one of about 7.
Condition rarity (even the highest graded) should not be valued this high, IMO.
True rarity( by mintage and survival) has taken a back seat to the popular series, and it may be due(only?) to Registry fever. I am a strong supporter of the Registries, but a warning needs to go out to the collectors that will pay such prices for common dates in ultra-high grades. These coins will never retain their most recent pricing,
OR
The rare dates in series like the Barbers and Seated that are lagging behind need a ton of collectors to increase the demand.
OR
I need to start looking more closely at the Buffalos I have not certified
TahoeDale
0
Comments
I agree 100%. 16K for a 38-D Buff is insanity regardless of condition IMO.
Fortunately for most of us, we have a broader field of vision.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
For my money I would rather buy something that has overall rarity and looks great in a 65 than a one grade higher coin that recieved a gift on a happy grader day. Considering the average coin is looked at a total of 10 seconds each on average by two graders, and if there is a disagreement a third tie breaker if you will, there are inconsistencies.
There are likely roll quantities of coins like the 38-D nickel and 1941-S walker around still today with rolls being held back like this starting more in the mid-30's. Overall rarity in a US coin for the most part dates from 1933 back, with the exceptions being some quantities of gold that was overseas, examples being certain date/mint mark Saints and all those Morgans that sat around for years in vaults.
I am thinking these high prices for high condition common dates, condition rarities stems from the registry approach as well as all the newer mint products that get graded 69 and 70 for extra money. I was looking at pop reports just last night at bullion type coins and 98% of most of these coins are 69's, a few 70's and a scattered few 68's and lower. This modern graded product had created the market perception supporting the type of pricing for condition rarity as well. In a good market in popular series there condition rarity prices seem to go up, but these are also the types of coina that will take a serious drop in a down market.
Glenn
Website-Americana Rare Coin Inc
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>What makes a 1938-D Buffalo nickel worth over $16,000? >>
The plastic that it's in.
can get up to $16,000 while a much scarcer nickel with very few
just missed coins like the '82-P won't bring nearly this price.
Ironically the collector base for the '82-P is growing far faster than
for the '38-D.
Everyone keeps talking about the registries being the biggest dri-
ver and obviously they may be a big factor but when you have most
"serious" collectors pursuing coins in the best condition they can af-
ford and the coins are available because of TPG's and the net then
it's hard to imagine any other outcome.
It's ironic that this coin was one of very few classics that I was ever
able to purchase in astounding condition. Mine easily graded 68 and
would have a shot at 69. Sure, I saw others but they were far too
high priced for my budget.
<< <i>What makes a 1938-D Buffalo nickel worth over $16,000? >>
Having too much money...
Experience the World through Numismatics...it's more than you can imagine.
<< <i>
<< <i>What makes a 1938-D Buffalo nickel worth over $16,000? >>
Having too much money... >>
I was going to say a buyer with more money than brains, but I think TDN captured it also.
An authorized PCGS dealer, and a contributor to the Red Book.
PQ's listing
This implies the price is headed far higher.
what the plastic says.
But you would buy Gobrechts?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i> With an ex PCGS grader bragging about coloring buffs and getting them upgraded, I wouldn't touch a colored buffalo with a ten foot pole right about now...
But you would buy Gobrechts?
Not blue ones that haven't been a part of the same collection for 50 years, I wouldn't!
If I only had a dollar for every VAM I have...err...nevermind...I do!!
My "Fun With 21D" Die State Collection - QX5 Pics Attached
-----
Proud Owner of
2 –DAMMIT BOY!!! ® Awards
Experience the World through Numismatics...it's more than you can imagine.
Don't forget that a MS68 Buff is needed in a 20th century type set as well. But it still comes down to having the cash to spend.
roadrunner
I think 31 total ms68 Buff's so 16k does not seem THAT out of line.
<< <i> What makes a 1938-D Buffalo nickel worth over $16,000? >>
Umm, err, ahh, the fact that someone out there is willing to spend that much for it?
- Jim
Why don't you start a thread about the high priced Jefferson's and ask why that doesn't equate to an 82 bringing more money?
<< <i><<< Condition rarity (even the highest graded) should not be valued this high, IMO. >>>
>>
A Rolls-Royce "shouldn't" cost 700K
Nobody "should" be able to spend 8 figures on a private jet
It's not fair that some eat hamburger, and some eat filet mignon and lobster
A mere bottle of wine "shouln't" cost the median middle class annual income.
I'm not responsible for setting the value of things - the bearer of the gelt is.
Build a bridge and get over it
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>For 16K, I can buy all of Mint's products of 2007 and hopefully will hit a few winners. >>
Then you are in the same boat. Up the creek without a pabble. Over priced mint products.
I've owned some of the best common-date Buffs ever made which I can't believe looked any different than most, if not all, of the "31." These are '37-S's that I painstakingly plucked from original rolls. I paid $5 each for these about 25 years ago.16K in 2007 for a '38 D Buffalo nickel is way, way out of line, in my opinion.
What I thought was an exceptionally well-struck '38-D was also in my holdings. Who knows? Maybe that 16K nickel is the one that was once owned by me.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
<< <i>Why do find it interesting that a Buffalo nickel can bring this much money when an unpopular coin like a jefferson nickel cannot? It is comparing apples to oranges. One has absolutely nothing to do with the other.
>>
I think it does. The same people aren't often collecting both buffalos and Jeffersons
but in many cases similarly scarce coins in different series will have a similar price. De-
mand is the major determinant but in this case there may actually be more collectors
of the scarcer (in unc) '82 than the '38, they simply aren't willing to pay as much.
I suppose this is why I find it interesting. It is apples and oranges but usually the stores
don't charge $16,000 for an apple and give away the oranges.
Absolutely positively nothing!
<< <i>
<< <i>For 16K, I can buy all of Mint's products of 2007 and hopefully will hit a few winners. >>
Then you are in the same boat. Up the creek without a pabble. Over priced mint products. >>
What' a...pabble..
<< <i>I cannot think of anything that would make a Indian Nickel worth $16,000. >>
Have any 18/7-D's you'd like to sell? How about a '16 DDO?
Russ, NCNE
<< <i>What' a...pabble..
When you finb youself up a creek and neeby, you'll unberstand.
roadrunner
<< <i>What makes a 1938-D Buffalo nickel worth over $16,000? >>
a fool and his money.
hi, i'm tom.
i do not doctor coins like some who post in here.
I should know, I sold it recently!!!
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
<< <i>
<< <i>What makes a 1938-D Buffalo nickel worth over $16,000? >>
The plastic that it's in. >>
I have to agree.....
AL
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
This is the kind of coin that should had fetched the 17 grand!! Check out the bloom around Jefferson' ear.
Oops, there I go again, berating someone's registry set! sorry
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>To answer your question as succintly as possible - IDIOCY. >>
Almost my idea too. Only I would not have said it so politely.