2017-07-12 Wed

Heritage Auctions sold a 1918/7-D Indian Head 5-cent coin, graded and encapsulated Very Good 10 along with a CAC sticker. The overdate was visible on the obverse even though it had wear and tear marks from circulation. The offered coin was sold for an impressive $1,075. The same coin in higher grades has a much higher market value. Experts believe that the coin is rarely visible in grades below Very Good.

The obverse die that was used to strike the overdate at the Denver Mint was executed in the die shop at the Philadelphia Mint in the second half of 1917. Cents and 5-cent coins were not adequate in 1917 and 1918. Dies were produced simultaneously to complete the demands.

Two or more impressions had to be taken from a working hub to sink a working die. The developing die was processed in the furnace between two impressions since the first one caused the metal to become work-hardened. Due to lack of time or a hasty procedure, a working die, impressed with a hub dated 1917 was given another impression from a hub dated 1918, resulting in an overdate or a form of doubled die.

The overdate was mentioned in a March 1930 auction by The Hobby Shop in Rochester, N.Y. Collectors started showing their interest in this rare coin after several years.