David Hall: The 1925-S is somewhat scarce in lower circulated grades, but higher grade circulated examples are much tougher to find. This issue is rare in mint state and extremely rare in Gem condition. In fact, it is the third rarest Buffalo in Gem condition (non-variety), barely trailing the 1920-S and 1926-S. All three of those issues are super hard to find in Gem MS65 condition and all but impossible to find in grades above MS65. Strike can be a major problem with the 1925-S as many mint state examples have very weakly struck Buffalo horn and tail and Indian hair braid detail. Luster is of the subdued frosty type. This is one of the key dates in the Buffalo nickel series.