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1918/7-D 5C MS65 NGC. FS-101. ...
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Description
1918/7-D Nickel, Highly Lustrous MS65 Example
Tied for Finest Known
1918/7-D 5C MS65 NGC. FS-101. Formerly FS-016.5, as
indicated on the insert. "Buy the book before the coin," goes the
tried but true numismatic saying. Nonetheless, some references
should receive more credit than they do. One of the best books ever
written about numismatics is actually an economic and political
history, Neil Carothers' Fractional Money: A History of Small
Coins and Fractional Paper Currency of the United States,
published in 1930. Carothers writes in Chapter 20, "The Present
Day":"The [fractional currency] system created before 1906 stood the strains of the war period from 1914 to 1919 without new legislation or irregular expedients. An early effect of the war, evident long before the United States became a participant, was to stimulate the demand for fractional coins. The prosperous years after 1900 had already brought the rate of issue to a volume hitherto unknown. Even these totals were dwarfed by the production called forth by the extraordinary industrial activity in the years from 1916 to 1920. For many weeks the mints ran day and night. Every possible improvement in equipment and processes was introduced."
It was against this backdrop, and despite "every possible improvement," that the 1918/7-D nickels were produced. The Denver Mint made 8.4 million nickels in 1918 -- an amount twice the prewar totals -- and one obverse die received blows from two hubs during die preparation, one dated 1917 and the other 1918. The overpunched die with the prominent 7 underdigit was unnoticed by the Engraving Department, and it was shipped to the Denver branch mint.
An unknown (but small) number of the 8.3 million nickels produced in Denver in 1918 were impressed from this 1918/7 obverse die. This overdate was not discovered until 1931, with the result that most survivors in today's market grade VG-Fine. An obviously important Mint State representative, this coin is tied for finest certified honors with two other Gems at NGC and three at PCGS (11/11).
The eye appeal of this Gem is nothing short of breathtaking, with rich powder-blue and golden-orange target toning over satiny features. The devices are boldly impressed, and the underdigit is sharp. Neither side reveals any singularly mentionable blemishes, with the only noticeable pedigree identifier a shallow planchet flake in the obverse field before the Indian's chin. Truly an impressive numismatic rarity.
Ex: Central States Signature (Heritage, 4/2002), lot 5374, where it brought $155,250.
From The Teton Ranch Collection.(Registry values: N14284)
Coin Index Numbers: (PCGS# 3939, Greysheet# 3115)
Metal: 75% Copper, 25% Nickel
Weight: 5.00 grams
Weight: 0.13oz
Mintage: 8,362,000
View all of [The Teton Ranch Collection ]
Auction Info
2012 January 4-8 US Coins & Platinum Night FUN Signature Auction- Orlando #1166 (go to Auction Home page)
Auction Dates
January, 2012
4th-8th
Wednesday-Sunday
Bids + Registered Phone Bidders: 16
Lot Tracking Activity: N/A
Page Views: 4,108
Buyer's Premium per Lot:
15% of the successful bid per lot.
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