1938-D D/S Buffalo

The 1938-D D/S Buffalo nickel shows a repunched mintmark where a D was struck over a previous S, leaving traces of the underlying S visible beneath the final D. The variety was created when a Denver Mint working die was punched with an S mintmark (probably intended for a San Francisco die) and then corrected with a D overpunch when the error was caught. The result is a coin that shows both mintmarks, with the D dominant and traces of the S visible under magnification.

Identification requires examining the mintmark under magnification. The diagnostic trace of the S appears within or adjacent to the final D, where the curved forms of the earlier mintmark are visible beneath the straight lines of the overpunched D. On well-preserved examples, the doubling is clear. On worn coins, the attribution can be ambiguous and requires certification.

The 1938-D D/S is a recognized variety in major Buffalo nickel references and commands meaningful premiums over the standard 1938-D. Surviving populations are limited, and Mint State examples are particularly sought after by specialists building comprehensive Buffalo nickel variety collections. PCGS and NGC both attribute the variety on certified examples.

The mintmark punching error reflects routine Mint procedures in which dies were prepared at Philadelphia before being shipped to branch mints with the appropriate mintmark. Occasionally a die destined for one branch mint received the wrong initial mintmark punch, requiring correction before shipment. The 1938-D D/S captures this kind of correction in physical form and is a valuable artifact of Mint production practices.