David Akers (1975/88):
The relative lack of availability of the 1905-S in AU and Unc. in my survey may come as a surprise to many collectors. After all, the mintage is high. However, the auction data correctly shows that the 1905-S is moderately scarce in any condition and quite rare better than EF. I have only seen about the same number of nice examples of this date that I have of the 1904-S which is odd considering the wide disparity in the mintages of the two dates. Why this date is scarce in high grade I don't know, but in my opinion, it is underrated and underpriced at the present time in full mint state, and is comparable in rarity (above EF) to the 1900-S.