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Lot
5058

1928-S 5C MS66 PCGS. CAC....

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 7 Internet/mail/phone bidders
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Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:
1928-S Nickel, MS66
Bright Mint Luster, Splendid Toning
1928-S 5C MS66 PCGS. CAC. The 1928-S and the 1929-S have similar mintages, 6.9 million pieces versus 7.7 million pieces. The two issues were struck at the same facility, only one year apart. In typical circulated grades, there is no difference in price. But surprisingly, by the AU level, the 1928-S is considerably scarcer than the 1929-S. This trend continues in Mint State, where the 1928-S is priced at multiples of the 1929-S.
It is difficult to explain the rarity of the 1928-S relative to the 1929-S. Perhaps a West Coast collector simply hoarded the 1929-S upon release. That person may also have saved rolls of the other two lowest denominations, the cent and dime, since for those denominations the 1929-S is also much more plentiful in high grade than the 1928-S. The 1928-S nickel, like other mintmarked issues from its decade, was little saved and is difficult to locate in exceptional Mint State condition.
The present Premium Gem is bright and lustrous on both sides and bathed in a light blue peripheral frame, with rose highlights in the centers. Evenly matched and quite attractive. The strike is sharp on the devices, and both the obverse and reverse dies show evidence of clashing. As to the rarity in this lofty condition, the combined NGC and PCGS population data show 14 coins graded this high, with none finer. Certainly worthy of any top-notch collection, and a coin that is probably unimprovable. Population: 6 in 66, 0 finer (6/12).
Ex: Dallas Signature (Heritage, 11/2005), lot 2039, which realized $43,125.(Registry values: N4719) (NGC ID# 22SD, PCGS# 3965)

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