1921-S Buffalo Nickel
Before attempting to complete a set of a coin series, collectors should determine how expensive the key dates are. For instance, one of the most expensive date-and-mintmark combinations in the Buffalo nickel series is the 1921-S from the San Francisco Mint. Collectors can expect to pay at least $1,000 for an About Uncirculated example, and generally several thousand dollars for one in Mint State.
Meanwhile, the 1921 Buffalo nickels struck in Philadelphia are a relative bargain, as they can be purchased for around $100 in About Uncirculated and generally only a few hundred dollars in Mint State. The mintage of the 1921-S is one of the lowest of the series, with a mere 1,557,000 coins struck. That’s about a seventh of Philadelphia’s nickel mintage that year.
For Buffalo nickels dated 1921, that “S” mintmark of San Francisco is worth its weight in gold—and then some! And to a counterfeiter, it represents a tempting opportunity for ill-gotten wealth. Numismatic Guaranty Company (NGC) recently encountered a coin that began its life as a legitimate U.S. Mint product before falling in with the wrong crowd.
Whenever the presence of a mintmark (or the lack thereof) means a price difference of hundreds or possibly thousands of dollars, make sure to carefully examine the mintmark area. In the case of this altered 5-cent piece, the mintmark doesn’t match what is expected—it’s too rounded and fat when compared to a genuine specimen.
If you look closely, you can see what appears to be discoloration around the mintmark from glue as well as a seam on the bottom. While this mintmark appears to have been affixed to the outside of the coin, be aware that Buffalo nickels are vulnerable to a particularly deceptive kind of added mintmark: an embossed one.
If you want to feel confident that your mintmark (and the rest of your coin) is genuine, remember that NGC backs its determinations of authenticity and grade with the NGC Guarantee.
A version of this article appears in the April 2024 issue of The Numismatist (money.org).