Some exceptional Proof Indian Head 5-cent pieces are set to impress at Heritage’s Nov. 21 to 24 auctions.

The series started with two distinct types in 1913. In the first design, the Bison on Mound, the bison appeared posed on a slight elevation. In the second design, defining the recessed area for the date removed the perception of a mound, and the Bison on Plain designation, or Type Two, was born.

Heritage offers a Type One graded Proof 68 by Professional Coin Grading Service with a green Certified Acceptance Corp. sticker that is among the finest known from a mintage of 1,520 Proof examples of the type.

John Dannreuther writes in his recent book United States Proof Coins, Volume II: Nickel that the 1913 Type One (Bison on Mound) issues are often seen with beautiful iridescent color. Heritage observes, “The virtually flawless surfaces show strong satiny matte proof luster, under vivid shades of ice-blue and lime-green toning.”

Sharp edges are seen on both sides, an especially important trait. Dannreuther advises, “After making sure the edge is fully mirrored and squared, [graders] usually look for the incuse die line on the obverse rim [in line with the bison’s jaw]. If all these are present, only a weak LIBERTY will prevent the designation as a Proof.”

Chasing perfection

A 1915 “Buffalo nickel” graded Proof 69 by PCGS is as close as one gets to perfection in the series and is the sole finest graded at that service. Heritage calls its surfaces immaculate, with “smooth, satiny surfaces displaying the bright texture that characterizes proof Buffalo nickels of both the 1914 and 1915 deliveries.” It was previously graded Proof 69 by Numismatic Guaranty Co. and in that holder it sold for $52,900 in 2003. In 2005 it sold for $69,000.

Specimen 1927 ‘nickel’

A delicacy on offer is one of just six known Specimen 1927 Indian Head 5-cent pieces, likely struck from chromium-plated dies. These emerged into the market about 35 years ago, according to Heritage, who characterizes their fully struck design elements and satiny matte surfaces as reminiscent of the finish used on the 1913 to 1916 Proof 5-cent pieces and the early 1936 Proofs.

Dannreuther reports that they may have come from the estate of John Sinnock, the eighth Chief Engraver of the U.S. Mint from 1925 to 1947. They were possibly used to test the new chromium plating plant that was installed at the Philadelphia Mint, which was used to improve the wearing qualities of dies, coin collars, machinery parts and models.

Heritage writes that the emergence of these previously unknown coins has posed problems: there is no actual documentation that says such coins were struck, “and yet when they appeared the physical evidence from the coins themselves was incontrovertible.” While they look like Proofs, PCGS and NGC for now call them Specimens, recognizing their unique qualities and extraordinary surface texture.

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