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Lot
5070

1937-D 5C Three-Legged MS65 NGC. FS-901....

2014 February 3 - 5 US Coins Signature Auction - New York #1202

 
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Auction Ended On: Feb 4, 2014
Item Activity: 7 Internet/mail/phone bidders
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Location: Heritage Auctions
445 Park Avenue, 15th Floor
New York, NY 10022
Description:

1937-D Three-Legged Nickel, MS65
Rarely Seen in Such High Grade
1937-D 5C Three-Legged MS65 NGC. FS-901. The 1937-D Three-Legged Buffalo and the 1955 Doubled Die Lincoln are the most popular varieties in their respective series. Both are so popular, in fact, that series collectors recognize them by their shortened versions: "Three-Legged Buffalo" and "55 Doubled Die."

Both pieces are available in lower grades, the Three-Legged Buffalo more so than the 1955 Doubled Die. But both become conditional rarities in the higher Mint State grades (and with Red surfaces in the case of the 1955 Doubled Die cent).

All else being equal, inspection of the relative NGC census data for each issue will give some estimate of survival rates. While there are 225 submissions (assuredly not all separate coins) certified in MS64 at NGC of the Three-Legged Buffalo, only 57 such have been certified in MS65, with 20 in MS66. It is thus the Gem level and higher where the Three-Legged Buffalo becomes a true conditional rarity. Based on the NGC data, the 1955 Doubled Die cent also takes a turn in Gem Red grade from conditional scarcity to conditional rarity, a level where NGC has seen only three submissions or certification events.

While Heritage has the privilege of offering many examples of the Three-Legged Buffalo annually, we see comparatively few examples in Gem or higher grades; competition for them is, accordingly, quite stiff when an example crosses the auction block. This is a well-struck Gem whose satiny mint luster is covered in multicolored, iridescent toning. Only a few flecks of carbon prevent an even higher ranking.(Registry values: N4719) (NGC ID# 22SX, PCGS# 3982)

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