Are Buffalo Head Nickels Worth Anything?
Uncover the true value of your Buffalo Head Nickel. This guide helps you understand the elements that determine its worth.
The Buffalo Head Nickel, often called the Indian Head Nickel, was produced by the United States Mint between 1913 and 1938. Its iconic design features a Native American profile on the obverse and an American bison on the reverse. This article clarifies the elements that contribute to a Buffalo Head Nickel’s potential value and guides how to assess any coins you possess.
Key Factors Influencing Value
A coin’s condition, or grade, is a primary determinant of its market value. More circulation leads to more wear, generally reducing value. Coin grading assesses preservation, appearance, and overall quality. Professional grading services use a scale from 1 (Poor) to 70 (Mint State), where higher grades indicate less wear and command higher prices.
The mint mark on a Buffalo Nickel also plays a significant role in its rarity and value. Mint marks identify the production facility: “D” for Denver, “S” for San Francisco, and no mint mark for Philadelphia. This mark is located on the reverse side of the coin, beneath the “FIVE CENTS” inscription. Certain mint marks for specific years can indicate a lower mintage, making those coins scarcer and more desirable to collectors.
A specific date’s value is driven by its original mintage numbers and demand from collectors. Some dates had considerably lower production figures, making them inherently scarcer. For instance, the 1926-S Buffalo Nickel had a mintage of only 970,000 pieces, making it one of the lowest mintage coins in the series. This combination of date and mint mark determines the coin’s fundamental rarity.
Identifying Rare Dates and Varieties
Certain dates and varieties of the Buffalo Nickel are particularly sought after by collectors due to their rarity or unique features. The 1913-S Type 2 is a key date, recognized by the recessed “FIVE CENTS” denomination on the reverse, a design change made to prevent rapid wear. Another notable rarity is the 1914-D, which had a relatively low mintage for its year. The 1921-S and 1924-S are also considered key dates, largely due to their limited production numbers from the San Francisco Mint.
Specific errors and varieties can significantly increase a coin’s value. The 1916 Doubled Die Obverse, minted in Philadelphia, exhibits clear doubling of the date, especially in the “16” numerals, and often on the Indian’s chin, feathers, and lips. Another famous error is the 1937-D 3-Legged Buffalo Nickel, where the front right leg of the bison appears missing due to excessive die polishing at the Denver Mint.
The 1918/7-D Overdate is another important variety, where an underlying “7” is visible beneath the “8” in the date. Repunched Mint Marks (RPMs) also exist, where the mint mark was stamped multiple times in slightly different positions, creating a visible overlap. These variations are distinct and can add to a coin’s appeal for collectors.
Assessing and Valuing Your Coin
Proper handling is important when inspecting any coin. Always hold the coin by its edges to avoid transferring oils and dirt from your skin, which can cause tarnish or damage. Wearing clean cotton gloves is recommended to protect the coin from fingerprints and other contaminants. Perform inspection over a soft surface, such as a towel, to prevent damage.
Begin by locating the date and mint mark on your Buffalo Nickel. The mint mark is on the reverse side, below the “FIVE CENTS” inscription. Next, observe the coin’s condition by examining wear patterns on the raised parts of the design, such as the Indian’s braids, the word “LIBERTY,” and the buffalo’s horn. Coins with clear, sharp details indicate less wear and higher grades.
After assessing the date, mint mark, and condition, look for specific varieties or errors, such as a doubled die or a missing leg on the buffalo. Compare your coin’s features against images and descriptions of known rarities.
For current market values, consult reputable price guides like “A Guide Book of United States Coins,” commonly known as the “Red Book.” This guide is updated annually and lists retail prices based on a coin’s grade and rarity. Online numismatic pricing websites and reputable coin dealer sites also provide pricing information. For coins suspected of high value, or if uncertain about authenticity or grade, seeking a professional appraisal from a certified numismatist or a third-party grading service is recommended.