The Buffalo Nickel, a piece of American history, is more than just pocket change. Some of these coins, minted between 1913 and 1938, can be worth up to $601,000 due to their rarity and condition. Surprisingly, these valuable coins might still be hiding in circulation, waiting to be discovered. This article explores the Buffalo Nickel’s history, what makes certain ones so valuable, and how you might spot one.
What Is the Buffalo Nickel?
The Buffalo Nickel, also called the Indian Head Nickel, is a five-cent coin produced by the U.S. Mint from 1913 to 1938. Designed by James Earle Fraser, it features a Native American profile on one side and an American bison on the other. This iconic design captures the spirit of the American West, making it a favorite among coin collectors.
Why Is It Called the Buffalo Nickel?
The name “Buffalo Nickel” comes from the bison image on the coin’s reverse side. The front, or obverse, shows a Native American chief, which is why it’s also called the Indian Head Nickel. The design was meant to honor America’s heritage, reflecting both its indigenous people and its wildlife.
Why Are Some Buffalo Nickels So Valuable?
Not every Buffalo Nickel is worth a fortune, but certain ones can fetch high prices due to specific factors. Here’s what makes some of these coins so special:
- Rarity: Some years or mint marks produced fewer coins, making them harder to find.
- Condition: Coins in excellent condition, with clear details and minimal wear, are worth more.
- Errors: Manufacturing mistakes, like misprints or double strikes, can make a coin unique.
- Historical Significance: Collectors value coins tied to key moments in history.
For example, a 1918/7-D Buffalo Nickel, where the date shows an overstrike of “8” over “7,” sold for $601,000 at auction due to its rarity and error.
Key Dates and Mint Marks to Look For
Certain Buffalo Nickels are more valuable because of their year and mint mark (a small letter indicating where the coin was made). Here’s a table of some high-value ones:
| Year | Mint Mark | Estimated Value (High Grade) | Notes |
|---|---|---|---|
| 1918/7-D | D | Up to $601,000 | Rare overdate error |
| 1937-D | D | Up to $500,000 | “Three-Legged” error |
| 1916/16 | None | Up to $100,000 | Double-die error |
| 1926-S | S | Up to $50,000 | Low mintage, San Francisco mint |
Note: The mint mark is a tiny letter (“D” for Denver, “S” for San Francisco, or none for Philadelphia) usually found below the bison on the reverse side.
How to Spot a Valuable Buffalo Nickel
Finding a valuable Buffalo Nickel in your pocket change is like discovering buried treasure. Here are some tips to help you identify one:
Check the Date and Mint Mark
Look closely at the year and mint mark using a magnifying glass. Key dates like 1918/7-D or 1937-D are rare. The mint mark is on the back, under the bison.
Look for Errors
Some Buffalo Nickels have errors that make them valuable. For example:
- 1918/7-D Overdate: The “8” is stamped over a “7,” creating a unique error.
- 1937-D Three-Legged Buffalo: The bison appears to have only three legs due to a minting mistake.
Assess the Condition
Coins in great condition, with sharp details and no major scratches, are worth more. Collectors use a grading scale (from Poor to Mint State) to evaluate coins. A professional grading service, like PCGS or NGC, can confirm a coin’s condition and authenticity.
Where to Find Them
While rare, Buffalo Nickels can still turn up in:
- Old coin collections
- Change from cash transactions
- Estate sales or flea markets
- Coin rolls from banks
How to Sell a Valuable Buffalo Nickel
If you think you’ve found a valuable Buffalo Nickel, follow these steps to sell it:
- Get It Appraised: Take the coin to a reputable coin dealer or grading service for an expert opinion.
- Preserve Its Condition: Handle the coin by its edges and store it in a protective holder to avoid damage.
- Research the Market: Check recent auction prices for similar coins to understand its value.
- Sell Through Trusted Channels: Options include coin shows, auctions, or online platforms like eBay, but work with trusted buyers to avoid scams.
The History Behind the Buffalo Nickel
The Buffalo Nickel was introduced in 1913 to replace the Liberty Head Nickel. James Earle Fraser, a sculptor, wanted a design that reflected America’s past. The Native American portrait was inspired by several real-life chiefs, though no single person was the model. The bison, often called a buffalo, was modeled after an animal named Black Diamond from the New York Central Park Zoo.
The coin was minted until 1938, when it was replaced by the Jefferson Nickel. Over its 25-year run, millions were produced, but certain years and errors make some coins incredibly rare today.
Why Collectors Love It
The Buffalo Nickel’s bold design and historical ties make it a collector’s favorite. Its connection to the American West and its limited production in certain years add to its allure. For many, finding a rare Buffalo Nickel is like owning a piece of history.
Tips for Coin Collectors
If you’re new to coin collecting or want to hunt for Buffalo Nickels, here are some practical tips:
- Start Small: Look for common Buffalo Nickels to learn about their design and condition.
- Join a Community: Coin clubs or online forums can offer advice and resources.
- Invest in Tools: A good magnifying glass and coin reference book are essential.
- Stay Patient: Finding a rare coin takes time and persistence.
Conclusion
The Buffalo Nickel is more than just a five-cent piece—it’s a treasure that could be hiding in plain sight. With some worth up to $601,000, these coins are a collector’s dream. By learning to spot rare dates, errors, and mint marks, you might uncover a valuable gem in your change. Whether you’re a seasoned collector or just curious, the Buffalo Nickel offers a fascinating glimpse into America’s past. Start checking your coins—you never know what you might find!
FAQs
What makes a Buffalo Nickel valuable?
Certain Buffalo Nickels are valuable due to rarity, minting errors, or excellent condition. For example, the 1918/7-D overdate or 1937-D three-legged Buffalo are highly sought after.
Where can I find Buffalo Nickels?
You might find them in pocket change, coin rolls from banks, estate sales, or old collections. They’re rare but still in circulation.
How do I know if my Buffalo Nickel is rare?
Check the date and mint mark. Look for errors like the 1918/7-D overdate or 1937-D three-legged Buffalo. A professional grading service can confirm its value.
Can I sell a Buffalo Nickel myself?
Yes, but get it appraised first. Use trusted platforms like auctions, coin shows, or reputable online marketplaces to sell safely.
Are all Buffalo Nickels worth a lot?
No, most are worth only a few cents unless they’re rare, have errors, or are in top condition.