The Buffalo Nickel series, struck from 1913 through 1938 and designed by James Earle Fraser, has long rewarded collectors with distinctive die varieties. Among the most intriguing is the 1938-D D Over S, a final-year over-mintmark variety that demonstrates both the artistry of the series and the practical constraints of Mint operations at the time.
Why It’s an Over-Mintmark, Not an Overdate
Understanding the variety begins with correct terminology. An overdate involves one date struck over another, such as the 1918/7-D Buffalo Nickel. The 1938-D D Over S, by contrast, is a classic over-mintmark (OMM)—specifically a D mintmark punched over an S. No alteration to the date occurred, and the variety’s diagnostics are confined to the mintmark.
Because mintmark punching was still done by hand in the 1930s, repunched mintmarks were not unusual. What sets this example apart is the presence of a San Francisco mintmark on a coin struck exclusively at Denver.
How the D Over S Occurred
The explanation lies in routine Mint practice. Early in 1938, reverse dies were reportedly prepared for San Francisco. When plans changed and San Francisco was removed from Buffalo Nickel production, the unused dies were reassigned rather than discarded. Mint workers repunched a D over the original S and shipped the dies to Denver for use in striking the last Buffalo Nickels.
This sequence is consistent with the Mint’s operating procedures of the era. Although no surviving Mint correspondence documents an explicit cost-saving decision, reallocating unused dies was standard practice and remains the most plausible interpretation of events.
Multiple Dies and Levels of Strength
Collectors first identified the variety in 1962, and subsequent studies have revealed multiple reverse dies displaying the D Over S. The widely accepted estimate is three dies, each producing different levels of clarity. One die created a dramatic, bold over-mintmark with a distinctly tripled D. Others generated subtler impressions, with only faint traces of the underlying S.
Because of this variability, PCGS recognizes only the strongest examples under the general “1938-D/D Over S” designation. Lesser expressions appear under the individual OMM-1 through OMM-4 classifications. The “strong” variety is the one most actively pursued by Buffalo Nickel specialists and PCGS Set Registry participants.
Survival and Market Appeal
The 1938-D issue benefited from widespread saving. Many collectors and dealers anticipated the arrival of the new Jefferson Nickel and preserved the final Buffalo Nickels in roll quantities. As a result, the D Over S variety is relatively available in Mint State, often with excellent surfaces and luster.
While not rare overall, the variety carries enduring appeal because it represents a tangible link between two eras of U.S. nickel coinage. Its mix of historical interest, clear diagnostics, and end-of-series significance keeps it a staple of advanced Buffalo Nickel collections.
PCGS / NGC Attribution Comparison: 1938-D D Over S Buffalo Nickel
| Attribution Category | PCGS Designation | NGC Designation | Notes / Diagnostic Comments |
|---|---|---|---|
| Strong Over-Mintmark (Primary Variety) | “1938-D/D Over S” (often listed simply as “D/S”) | “D/S” (sometimes “OMM”) | Both services reserve their primary variety slot for examples showing a clearly tripled D and unmistakable remnants of the underlying S. These are the most collectible and the ones recognized in major registry sets. |
| OMM-1 (Weaker Expression) | Generally not assigned a separate PCGS variety number; included only when repunching is strong enough to meet their main “D/S” criteria | May be attributed under NGC VarietyPlus as OMM-1 | Shows lighter traces of the S under the D. Diagnostics may include partial serifs or shadow impressions. |
| OMM-2 | As above, PCGS does not list a standalone attribution unless it meets their threshold for the primary label | Recognized by NGC as OMM-2 | Slight repunching visible but typically weaker. Evidence of the S is subtle; magnification often required. |
| OMM-3 | Not recognized separately by PCGS | Recognized by NGC as OMM-3 | Displays minimal but identifiable underlying S elements. Usually attributed by die markers rather than bold mintmark evidence. |
| OMM-4 | Not recognized separately by PCGS | Recognized by NGC as OMM-4 | Considered the weakest of the acknowledged OMMs. Attribution relies heavily on specialist diagnostics, not dramatic mintmark doubling. |
| Registry Eligibility | Only strong D/S variety qualifies for the PCGS Set Registry Buffalo Nickel variety slot | Strong D/S variety typically listed; weaker OMMs may not count toward higher-level registry rankings | PCGS is stricter, focusing on the principal dramatic variety. NGC documents a wider range of repunchings but emphasizes the strong D/S for competitive sets. |
| Market Recognition | Strong “D/S” is the only version that consistently appears in auction descriptions and dealer inventories | NGC-attributed weaker OMMs appear mainly in specialist circles | Regardless of service, the strong variety dominates market demand and collector interest. |
Summary of Attribution Differences
PCGS is restrictive:
- Recognizes only the strong D Over S variety as the canonical 1938-D/D OMM.
- Does not separately designate OMM-1, OMM-2, OMM-3, or OMM-4 unless they rise to the diagnostic clarity expected of their main variety.
- Prioritizes registry cohesion and clearly identifiable visual diagnostics.
NGC is inclusive:
- Officially records multiple lower-visibility OMM varieties (OMM-1 through OMM-4).
- Uses stricter photographic and die-marker analysis to confirm weak repunchings.
- Caters somewhat more to specialists who collect the full spectrum of Buffalo Nickel RPMs.
Collectors generally gravitate toward the strongest variety, as it is the most dramatic, widely recognized, and consistently represented in major grading-service populations.
Sources and Citations
- PCGS CoinFacts – 1938-D Buffalo Nickel & 1938-D/D Over S variety data
- Coin World, September 14, 1962 – First public report of the D Over S variety
- USA Coin Book – Variety classification and diagnostics
- Buffalo Nickel entry, Wikipedia – Historical production data
- Collector and variety-specialist research on OMM die diagnostics (non-official but widely referenced in numismatic literature)
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