David Hall: In circulated grades, the 1920-S is quite scarce. It is rare in mint state and in Gem condition it is one of the major rarities of the Buffalo nickel series. For the non-varieties, in Gem condition only the 1926-S is rarer, though the 1925-S is close in rarity to the 1920-S. I'd caall the 1920-S the second rarest buffalo nickel in Gem condition after the 1926-S. Strike is a big problem with this issue and most examples have very weakly struck detail of the Buffalo's horn and tail and the Indian's hair braid. Luster, on the rare mint state example, is somewhat frosty.
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