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Buffalo Nickel with lamination loss of value
Vetter
Posts: 981 ✭✭✭✭✭
I have this semi key date 1924 S Buffalo graded by ANACS as XF45 Lamination. It’s a very good strike for the date with a not often seen full horn. Unfortunately there is the “problem” on the obv.
Just wondering how much it takes away from the value?
Thanks for any opinions.
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Comments
It depends. A lamination is considered a planchet error and might be desirable to an error collector.
On the other hand someone who likes their coins unmarked would not be attracted to it.
Personally I think it would add some value to it as it is an error although minor.
I see it as a slight distraction and would imagine a small discount from a normal XF45 to come into play.
I would not buy it, but I generally don't buy error coins.
As an example--I collect buffalo nickels; I have a PCGS XF40, problem free, copy of this coin. I would much rather have a problem-free XF40 than a lamination-error XF45.
I suspect that someone who likes that sort of thing would pay a bit more for it that a "normal" example, but that people who don't collect them would not buy it.
This is like getting a super-common VAM attribution on a common Morgan, or any VAM attribution on a rare one. By putting the variety or error on the holder, you immediately go from a large market (Morgan dollar collectors) to a much smaller one (VAM collectors). Obviously, it works out if the variety or error is rare or desirable, but most of the time it has a negative impact on value.
To most Buffalo Nickel date and mint collectors, I’d say it’s worth at least a grade lower. Other’s wouldn’t touch it.
Error collectors are interested in the error, not the key date status. Date and mint collectors want straightforward pieces. They are not interested in “yes, but” unless it’s a bear of a.coin to find, and at the right price.
@Vetter It had been my experience that in the 5 or 6 years that coins similar to this sell at par to Greysheet.
Ouch!