High-grade Indian Head 5-cent coins ride herd during Goldberg auction

1918/7-D, 1937-D, Three-Legged coins among issues offered in 1,686-lot sale of U.S. coins
By , Coin World
Published : 09/01/15
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A number of high-grade Indian Head 5-cent coins, including 1918/7-D and 1937-D Three-Legged coins, highlight the 1,686-lot sale of United States coins Sept. 13 and 14 by Ira & Larry Goldberg Coins & Collectibles.

Also included among the lots is what appears to be a discovery communion token from Albany, N.Y., and a low-grade example of the highly sought after Starred Reverse variety of 1794 Liberty Cap cent.

Stellar overdate

The 1918/7-D Indian Head 5-cent coin is graded Mint State 64+ by Professional Coin Grading Service and stickered by Certified Acceptance Corp. with a green label.

The overdate was created during the process of manufacturing the dies. The die that produced the 1918/7-D coin was created during a die shortage, when a 1917 working die was impressed with a hub dated 1918.

The coin offered in the Sept. 13 and 14 sale carries a pre-sale estimate of $125,000 or more.

Who needs a fourth leg

PCGS grades the sale's 1937-D Indian Head, Three-Legged 5-cent coin as MS-66. The coin hold also bears a CAC green label.

The variety was created by a Denver Mint employee trying to remove clash marks from a production die. During production, an obverse and reverse die struck one another without a planchet being fed between. This clashing of the dies transferred part of the obverse design into elements of the reverse.

To remove the clash marks, a Mint press operator used an emery stick to file down the raised design details from the reverse. The exercise resulted in not only loss of the bison's right front leg, but also weakening of some surrounding details. The die was put back into production without anyone realizing the loss of details. The variety has been sought after by collectors ever since.

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