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1937-D Three-Legged Nickel, MS65
Only Four Finer PCGS Coins

1937-D 5C Three-Legged MS65 PCGS. FS-901. The 1937-D Three-Legged Buffalo nickel is nearly in a class by itself when it comes to unceasing demand. Many collectors who would not dream of owning another Buffalo nickel variety seek out examples eagerly. The variety is a crucial component of two PCGS Registry Sets for the series, both the Major Varieties and Complete Varieties sets. As of December 2011, 85 persons are working on the former set on the PCGS Set Registry, and 24 hardy souls are assembling the latter set. The Three-Legged Buffalo is worth eight points in the Major Varieties set (the 1916 Doubled Die and 1918/7-D are worth 10 points each), so a nice example will provide a sizeable boost to any collection. At the NGC Registry Set boards, more than 450 collectors combined are working on the two business strike collections, one from 1913-1938 and the other from 1934-1938. NGC employs a sliding scale for each issue, where an XF example of this variety would be worth 908 points and an MS65 would clock in at 5,656 points.
Of course the 1937-D Three-Legged could be a component of many other sets as well (year sets, complete denomination sets), and it is not out of the question that collectors working on type sets might seek out a nice Three-Legged Buffalo for their collections.
Perhaps it is because the variety has been known for nearly 75 years now, but the status of the coin seems to put it more in the category of "widely pursued key coin" rather than "abstruse die-state error" in the minds of most collectors. In fact, many dealers will attest that the 1937-D Three-Legged Buffalo, when priced right, is among the first coins to sell on the typical bourse floor, at a pace that parallels that of the 1916-D Mercury dime -- another key coin in demand at all grade levels.
This piece has more vibrant luster than usually seen, and the obverse is brilliant while the reverse has light, even patina. Well struck with no obvious abrasions. Population: 52 in 65, 4 finer (11/11).(Registry values: N4719) (NGC ID# 22SX, PCGS# 3982)

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Auction Dates
January, 2012
Internet/Mail/Phone Bidders: 8
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