Collectors and investors alike are always on the lookout for rare and valuable coins. Among the most sought-after coins in the world is the Buffalo Nickel. First minted in 1913, the Buffalo Nickel features the iconic design of a Native American chief on one side and a bison on the other. Initially, it was a popular coin, widely used in circulation. Its production ended abruptly in 1938, making it a relatively scarce coin today.
The rarity of the Buffalo Nickel, particularly certain dates and varieties, has led to its significant value in the marketplace. The most valuable Buffalo Nickels are those that were minted in low numbers or have unique characteristics. For instance, the 1937-D 3-legged Buffalo Nickel, which features an error in the design, is one of the most prized and expensive Buffalo Nickels, with values reaching into the hundreds of thousands of dollars. Additionally, some Buffalo Nickels with specific mint marks, such as the 1913-S Buffalo Nickel, are also highly sought after and command premiums in the market.
The value of Buffalo Nickels is determined by a combination of factors, including rarity, condition, and demand. Coins in uncirculated or mint state condition are generally worth more than those that have been heavily circulated. Furthermore, the presence of errors or other unique characteristics can also add to the value of a Buffalo Nickel. Collectors and investors are constantly monitoring the market for rare and valuable Buffalo Nickels, making it an exciting and dynamic area of coin collecting.
History of the Buffalo Nickel
The Buffalo nickel, also known as the Indian Head nickel, was a five-cent coin struck by the United States Mint from 1913 to 1938. It was designed by sculptor James Earle Fraser and replaced the Liberty Head nickel, which had been in circulation since 1883. The Buffalo nickel was the first US coin to feature a Native American on its obverse, a significant departure from previous designs that typically depicted allegorical figures or portraits of historical figures.
The design of the Buffalo nickel was inspired by Fraser’s travels through the American West, where he encountered Native American tribes and became fascinated by their culture. The obverse of the coin features a profile of a Native American man wearing a headdress, while the reverse depicts a bison, or buffalo, standing on a mound. The coin’s design was controversial at the time due to its depiction of a Native American, but it has since become one of the most iconic and beloved coins in American history.
The Buffalo nickel was struck in two different types: Type 1, produced from 1913 to 1920, and Type 2, produced from 1921 to 1938. The Type 1 nickel has a thicker rim and a different design of the buffalo, while the Type 2 nickel has a thinner rim and a more refined design. The Buffalo nickel was discontinued in 1938 and replaced by the Jefferson nickel, which is still in circulation today.
Specifications of the Buffalo Nickel:
| Attribute | Specification |
|---|---|
| Diameter | 21.21 mm |
| Weight | 5.00 grams |
| Thickness | 1.95 mm |
| Composition | 75% copper, 25% nickel |
| Obverse Designer | James Earle Fraser |
| Reverse Designer | James Earle Fraser |
Scarce and Valuable Dates
### 1913-S Type 1 and Type 2
The 1913-S Buffalo Nickel stands as a numismatic treasure, renowned for its scarcity and exceptional value. This date was the first year of production for the Buffalo Nickel, minted in the San Francisco Mint. Only a small number of Type 1 and Type 2 coins were produced, with just 4,280,000 and 2,425,000 coins struck, respectively.
The Type 1 1913-S Buffalo Nickel features a diagonal Roman numeral “III” in the date, while the Type 2 has a horizontal “III.” Both types exhibit exceptional rarity, with the Type 1 commanding a significantly higher price due to its limited mintage. These coins are highly sought after by collectors and investors alike, and their values continue to rise steadily over time.
| Grade | Type 1 | Type 2 |
|—|—|—|
| Good 4 | $3,000 | $1,200 |
| Very Good 8 | $6,000 | $2,200 |
| Fine 12 | $10,000 | $3,000 |
| Very Fine 20 | $18,000 | $4,500 |
| Extremely Fine 40 | $38,000 | $8,000 |
| Uncirculated 63 | $125,000 | $17,000 |
| Mint State 65 | $300,000 | $30,000 |
### Notable Key Dates and Varieties
In addition to the 1913-S, several other key dates and varieties of the Buffalo Nickel hold significant value and interest for collectors. These include:
1916: The 1916 Buffalo Nickel is known for its low mintage of just 5,270,000 coins. It is a popular date with collectors, and its value has steadily increased over the years.
1918/7-D: This overdate variety features a “7” over an “8” in the date. It is a relatively rare variety and commands a higher premium than the standard 1918-D Buffalo Nickel.
1937-D Three-Legged Buffalo: This variety features a missing leg on the buffalo’s reverse design. Its rarity and unique appearance make it a highly sought-after coin.
1938-D Doubled Die Obverse: The 1938-D Buffalo Nickel with a doubled die obverse error displays significant doubling in the lettering and design elements on the front of the coin. It is a popular variety among error collectors.
Key Rarities and Errors
Among the Buffalo nickels, certain rare varieties and errors stand out for their exceptional value and historical significance. These include the following:
1913 Type 1 Buffalo Nickel
The 1913 Type 1 Buffalo nickel is renowned for its rarity, with only five known specimens. It features the original design by James Earle Fraser, before the addition of the “E” to the bottom of the coin.
1937-D 3-Legged Buffalo Nickel
A unique error occurred in the 1937-D Buffalo nickel, where the bison’s left front leg was omitted. This “3-legged” variety is highly sought after by collectors and is valued in the thousands of dollars.
Other Notable Errors
| Year | Error | Description |
|---|---|---|
| 1924-S | Double Die Reverse | The reverse design was struck twice, resulting in a ghost image. |
| 1932-D | Inverted Buffalo | The buffalo design was accidentally printed upside down. |
Market Value Determinants
Several factors influence the market value of a Buffalo Nickel:
Condition
Condition plays a crucial role in determining value. Buffalo Nickels in pristine condition, with sharp details and minimal wear, are highly sought after and command higher prices.
Strike Quality
Strike quality refers to how well the coin was stamped. A coin with a strong, even strike will have clear lines and details, making it more valuable.
Year and Mint
Some years and mint marks are rarer than others. For example, the 1913 Buffalo Nickel, often referred to as the “Type 1” due to its unique design, is one of the most valuable in the series.
Variety
Buffalo Nickels come in various varieties, each with its own distinct characteristics. Some varieties, such as the “No Liberty” error or the “Proof-Like” finish, are highly sought after by collectors and can fetch substantial premiums.
Eye Appeal
Overall eye appeal is subjective and can vary depending on the collector’s preferences. Coins with vibrant surfaces, pleasing patinas, or attractive toning often command higher prices.
| Condition | Strike Quality | Year and Mint | Variety | Eye Appeal |
|---|---|---|---|---|
|
Pristine |
Strong, Even |
Rare Date or Mark |
Unique Error or Finish |
Vibrant Surface, Pleasing Patina |
Grading Buffalo Nickels
Grading Buffalo nickels, like grading any other coin, involves assessing their condition and assigning a numerical value to indicate their quality. The grading process considers various factors, including the coin’s luster, wear, and overall preservation.
Grading Scale
The most commonly used grading scale, established by the American Numismatic Association (ANA), ranges from 0 to 70:
– PO-1: Poor – The coin’s design is barely recognizable due to extensive wear or damage.
– FR-2: Fair – The design is slightly more prominent, but significant wear is evident.
– G-4: Good – The design is clearly visible but shows moderate signs of wear.
– VG-8: Very Good – The design is mostly intact, with only slight wear on the highest points.
– F-12: Fine – The design is sharp, but there is slight flattening of the details from wear.
– VF-20: Very Fine – The design is well-defined, with minimal wear, and the luster may be somewhat diminished.
– XF-40: Extremely Fine – The coin shows minimal signs of circulation, with most of its original luster preserved.
– AU-50: About Uncirculated – The coin appears almost completely uncirculated but may show the slightest trace of wear.
– MS-60: Mint State – The coin shows no signs of wear and has the full luster of a freshly minted coin.
– MS-63: Mint State – The coin is in excellent condition, with no blemishes or imperfections visible to the naked eye.
Additional Factors
In addition to the grading scale, consider the following factors:
– Luster: The amount of original mint shine remaining on the coin’s surface.
– Strike: The sharpness of the coin’s design, indicating the quality of the dies used to strike it.
– Eye Appeal: The overall attractiveness of the coin, including its color, toning, and any unique characteristics.
– Errors: Any deviation from the coin’s intended design, such as die breaks or misstrikes, can significantly increase its value.
Factors Affecting Value
Several factors play a role in determining the value of a Buffalo Nickel:
1. Date and Mint Mark
The year and mint mark of a Buffalo Nickel can significantly affect its value. The rarest dates and mint marks command the highest prices.
2. Condition
The overall condition of a Buffalo Nickel is crucial. Coins in mint state or proof condition are worth more than those with wear or damage.
3. Variant
There are several known variants of the Buffalo Nickel, including overdates, doubled dies, and errors. These variants can add significant value to the coin.
4. Strike
The strike of a Buffalo Nickel refers to the sharpness of the details in the design. A strong strike is desired and can enhance the coin’s value.
5. Luster
Luster is the light that reflects off the surface of a coin. A Buffalo Nickel with original luster is considered more desirable and valuable.
6. Eye Appeal
Eye appeal is a subjective factor that reflects the overall appearance and attractiveness of a coin. A Buffalo Nickel with pleasing toning, even wear, or other aesthetic qualities can fetch higher prices.
| Toning | Eye Appeal | Value |
|---|---|---|
| Original Luster | Exceptional | Highest |
| Slight Toning | Very Good | High |
| Even Toning | Good | Medium |
| Uneven Toning | Fair | Low |
| Heavy Toning or Spots | Poor | Lowest |
Authentication and Verification
Authenticating and verifying a Buffalo Nickel involves several steps to ensure its authenticity and value.
Professional Grading
Numismatic experts provide professional grading services to assess the Buffalo Nickel’s condition and assign it a numerical grade. Grading companies like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) use a 70-point scale, with higher grades indicating better preservation.
Expert Authentication
Certified numismatists can examine the Buffalo Nickel’s physical characteristics, such as its strike, surface texture, and patina, to determine if it is genuine or a counterfeit. They may use magnification and specialized equipment for detailed analysis.
Consultation with Experts
Consulting with reputable dealers, collectors, or auction houses can provide valuable insights into the Buffalo Nickel’s authenticity and value. They have extensive experience handling coins and can offer expert opinions.
Numismatic Databases
Numismatic databases, such as the American Numismatic Association’s (ANA) Certified Collectibles Group (CCG), provide information on certified coins. By verifying the Buffalo Nickel’s certification number in these databases, its authenticity can be confirmed.
Physical Examination
A careful physical examination can reveal clues about the Buffalo Nickel’s authenticity. Counterfeits may have uneven surfaces, incorrect details, or altered designs. Paying attention to the coin’s weight, diameter, and thickness can also aid in identifying potential issues.
Chemical Analysis
Advanced chemical analysis techniques, such as X-ray fluorescence (XRF), can determine the elemental composition of the Buffalo Nickel. This can detect deviations from the original alloy composition, which could indicate a counterfeit.
Comparison with Known Authentic Specimens
Comparing the Buffalo Nickel to known authentic specimens can highlight any inconsistencies in design, strike, or patina. Museums and numismatic exhibitions often showcase authentic coins that can serve as references.
Buffalo Nickel Most Valuable
The Buffalo nickel, designed by James Earle Fraser, was minted from 1913 to 1938. It is one of the most popular and iconic coins in American history, and some examples are worth a significant amount of money.
Tips for Collectors
When collecting Buffalo nickels, there are a few things to keep in mind:
Condition
The condition of a coin is one of the most important factors in determining its value. Buffalo nickels can be found in a variety of conditions, from poor to mint state. The higher the condition, the more valuable the coin will be.
Variety
There are a number of different varieties of Buffalo nickels, each with its own unique characteristics. Some of the most valuable varieties include the 1913 Type 1, the 1916-D, and the 1937-D 3-Legged Buffalo.
Rarity
The rarity of a coin is another important factor in determining its value. Some Buffalo nickels are more common than others, and therefore less valuable. The rarest Buffalo nickel is the 1913 Type 1, with only 5 known specimens.
Eye Appeal
Eye appeal is a subjective factor that can affect the value of a coin. It refers to the overall look and feel of the coin, and can be influenced by factors such as the luster, strike, and color.
Mint Error
Mint errors can add value to a coin, especially if they are rare. Some of the most common mint errors on Buffalo nickels include off-center strikes, double dies, and missing details.
Price Guide
There are a number of price guides available that can help you determine the value of your Buffalo nickels. These guides typically list the average prices for each variety and condition, and can be a helpful resource for collectors.
Numismatic Certification
Numismatic certification can add value to a coin by authenticating its condition and variety. There are a number of different numismatic certification companies, and each has its own set of standards.
Grading and Auction Services
Grading and auction services can help you sell your Buffalo nickels for the highest possible price. These services typically charge a fee, but they can help you get your coins in front of a wider audience of potential buyers.
Collecting Buffalo Nickels
Collecting Buffalo nickels can be a fun and rewarding hobby. There are a wide variety of coins to choose from, and the values can range from a few dollars to tens of thousands of dollars. Whether you are new to collecting or a seasoned expert, there is something for everyone in the world of Buffalo nickels.
| 1913 Type 1 | $100,000+ |
|---|---|
| 1913 Type 2 | $50,000+ |
| 1916-D | $10,000+ |
| 1937-D 3-Legged Buffalo | $5,000+ |
Storage and Preservation
Precautions
Buffalo Nickels should be stored in a dry, airtight container to prevent tarnishing and corrosion. Avoid touching the coins with bare hands, as oils from the skin can lead to discoloration.
Optimal Environment
The ideal storage environment for Buffalo Nickels maintains a temperature between 65-75°F (18-24°C) and a relative humidity between 40-50%. Extreme temperature fluctuations and high humidity can damage the coins.
Long-Term Storage Considerations
For long-term storage, consider using archival-quality coin holders or flips that protect the coins from handling and environmental factors.
Cleaning and Handling
Buffalo Nickels should be cleaned only if necessary, using a soft, lint-free cloth and a mild solution of water and a gentle dish soap. Avoid using abrasive cleaners or harsh chemicals.
Specific Considerations for High-Value Coins
High-value Buffalo Nickels require additional precautions. Store them separately in individual coin capsules or holders to prevent damage from contact with other coins. Consider using a specialized numismatic storage solution that provides optimal protection against environmental factors.
Safeguarding from Damage
Handle high-value Buffalo Nickels with extreme care, using gloves to avoid fingerprints and oils. Keep the coins away from heat sources, direct sunlight, and excessive moisture.
Professional Services
For professional storage and preservation of high-value Buffalo Nickels, consider consulting with a numismatic conservation expert. They can provide specialized advice on the best practices for protecting and maintaining the coins.
Recommended Storage Media
The following table provides recommendations for storage media suitable for Buffalo Nickels:
| Coin Holder Type | Benefits |
|---|---|
| Coin Flips | Simple and affordable protection |
| Coin Capsules | Increased protection from moisture and handling |
| Archival Mylar Flips | Acid-free and moisture-resistant for long-term storage |
| Coin Tubes | Convenient for large quantities of coins, but less protective than flips and capsules |
Current Market Trends
The Buffalo Nickel has been steadily gaining value in recent years, due to its historical significance, rarity, and aesthetic appeal. The market for Buffalo Nickels is diverse, with collectors from all walks of life interested in acquiring these coins.
Factors Affecting Value
Several factors influence the value of Buffalo Nickels, including:
- Date and mint mark
- Condition
- Rarity
- Historical significance
Key Dates and Varieties
Certain dates and varieties of Buffalo Nickels are particularly valuable. These include:
- 1913 Buffalo Nickel
- 1916-D Buffalo Nickel
- 1937-D Buffalo Nickel
- 1916 Doubled Die Obverse Buffalo Nickel
The 1913 Buffalo Nickel is the most valuable in the series, with specimens in mint condition fetching over $20,000. The 1916-D, 1937-D, and 1916 Doubled Die Obverse varieties are also highly sought-after and command significant premiums.
The following table provides an overview of the key dates and varieties, along with their approximate values in different grades:
| Date/Variety | MS-65 | MS-67 | MS-70 |
|---|---|---|---|
| 1913 Buffalo Nickel | $10,000 | $15,000 | $20,000+ |
| 1916-D Buffalo Nickel | $3,000 | $5,000 | $10,000+ |
| 1937-D Buffalo Nickel | $1,500 | $2,500 | $5,000+ |
| 1916 Doubled Die Obverse Buffalo Nickel | $5,000 | $8,000 | $12,000+ |
Buffalo Nickel Most Valuable
The Buffalo Nickel, officially known as the Indian Head Nickel, is a five-cent piece that was struck by the United States Mint from 1913 to 1938. Designed by James Earle Fraser, the coin features a Native American chief on the obverse and an American bison on the reverse. The Buffalo Nickel is considered one of the most beautiful and iconic coins in American history, and its value has steadily increased over the years.
The most valuable Buffalo Nickel is the 1913 Type 1 variety. This coin was struck with a slightly different design than later issues, and only a few thousand examples were ever produced. As a result, the 1913 Type 1 Buffalo Nickel is extremely rare and valuable, with some examples selling for more than $100,000.
People Also Ask About Buffalo Nickel Most Valuable
What is the rarest Buffalo Nickel?
The rarest Buffalo Nickel is the 1913 Type 1 variety.
What is the most valuable Buffalo Nickel?
The most valuable Buffalo Nickel is the 1913 Type 1 variety, which can sell for more than $100,000.
How much is a Buffalo Nickel worth?
The value of a Buffalo Nickel depends on its condition and rarity. Common dates and conditions can be worth a few dollars, while rare dates and conditions can be worth thousands of dollars.
