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$80 Nickel Sells for $264,500 in Heritage Auction

From September 29, 2005 Heritage Press Release:

DALLAS, TEXAS: Heritage Numismatic Auctions, Inc., (HNAI) sold a 1916 Nickel with the date doubled on the obverse, PCGS graded MS64, for $264,500 in its most recent Signature Auction, held September 21-24, 2005 as the Official Auctioneer of the Long Beach Coin Expo. The entire auction realized about $23.5 million, with the nickel being the most expensive single lot.

“A regular example of this date might sell for about two dollars, while one in a comparable grade might sell for about $80,” said Jim Halperin, Co-Chairman of HNAI, “but this stunning error example, with the date double-struck, brought $264,500, a world record price for a Buffalo nickel at auction.”

“There are very few examples of this error coin in existence,” said Halperin, “possibly no more than a couple hundred pieces, with only a few known to be equal to this example and none finer. In fact, the error state remained unknown for more than four decades after the production of the coin. This is one of the rarest and most popular 20th century error coins, and one that is very attractive to the advanced nickel collector.”







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