A similarly graded MS65 buffalo nickel from the same issuance garnered $216,000 in November 2020 at a Stack’s Bowers auction. This time, however, the coin was not part of a registry set.

The nickel has a long history in U.S. money, though it wasn’t the country’s first 5-cent coin. That honor goes to a “half-dime” that first appeared in 1794. Early 5-cent pieces weren’t ...