1931-S 5C MS67 PCGS....

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High-End 1931-S Buffalo Nickel, MS67
Tied for Finest Certified

1931-S 5C MS67 PCGS. The 1931-S Buffalo nickel boasts a low original mintage of just 1.2 million pieces, the second lowest of the series. New coins were not really needed in the slow economy of the Depression era, so most of the mintage was stored for several years. By the time demand for nickels was sufficient to necessitate their release, collectors had become aware of the small production total. Many pieces were saved by speculators, with the result that Mint State specimens are surprisingly available today.
The situation would have been much different, were it not for a shrewdly calculated intervention by the Acting Director of the Mint. In November of 1931, only 194,000 nickels had been coined at the San Francisco Mint, and no nickels had been minted at the other Mints. Acting Director of the Mint M.M. O'Reilly feared this situation would lead to rampant speculation if the low mintage became known. R.W. Julian discovered a letter in which she sent the following instructions to the San Francisco facility:

"The only nickels coined this year were those manufactured at your mint: $9,700 worth being issued in January. This amount, if allowed to be the total coinage for the year, would send the nickels of 1931 to a premium and would cause the Treasurer and this Bureau a good deal of trouble for years. This Bureau has conferred with the Treasurer's Office and it is suggested that you discontinue the coinage of dimes and prepare to run on nickels for the balance of the calendar year."

These measures were adopted and resulted in the situation we know today. If the mintage of 1931-S nickels had been left at the level attained in November of that year, the issue would probably be the rarest and most valuable coin in the series.
The date is not rare in lower Mint State grades today, but it is very rare above the Premium Gem level. NGC has certified only three examples at the Superb Gem level, with none finer, and PCGS has graded just two specimens in MS67, with none finer (3/09).
The present coin is virtually unimprovable, with intense visual appeal to match the high technical grade. The surfaces are bright and highly lustrous, under a pale rose and lilac patina. The sharp strike enhances the already considerable eye appeal. This offering represents a rare opportunity for the discerning collector.
From The Joseph C. Thomas Collection.(Registry values: N2998)

Coin Index Numbers: (NGC ID# 22SK, PCGS# 3971, Greysheet# 3137)

Weight: 5.00 grams

Metal: 75% Copper, 25% Nickel

View all of [The Joseph C. Thomas Collection, Part Two ]

View Certification Details from PCGS