Are Buffalo Nickels Worth Any Money?

The Buffalo Nickel, also known as the Indian Head Nickel, was struck by the United States Mint from 1913 to 1938. This copper-nickel five-cent piece succeeded the Liberty Head Nickel. While many circulated widely and are common, certain Buffalo Nickels hold significant value depending on specific attributes. Understanding these characteristics helps determine if a coin is a historical artifact or a valuable numismatic item.

Factors Influencing Buffalo Nickel Value

Several factors contribute to a Buffalo Nickel’s value beyond its face value. The year of mintage and mint location are primary considerations. Buffalo Nickels were struck at three facilities: Philadelphia (no mint mark), Denver (“D”), and San Francisco (“S”). Certain years and mint marks, particularly from San Francisco and early Denver issues, had lower mintages, making them scarcer and more sought after.

The coin’s condition, or “grade,” significantly impacts its worth. Coins with minimal wear and strong original detail command higher prices. Basic grading terms describe preservation, ranging from “Good” (heavily worn with faint details) to “Uncirculated” (no signs of wear, retaining original luster). Key features examined include the Indian’s braid and the buffalo’s horn, as these areas tend to show wear quickly.

Specific varieties and errors can increase a Buffalo Nickel’s value. A notable example is the 1937-D “3-Legged” Buffalo Nickel, where a minting error resulted in the buffalo appearing to be missing its front right leg due to excessive die polishing. Other valuable anomalies include doubled die errors, such as the 1916 Doubled Die Obverse, which shows clear doubling of the date, or the 1935 Doubled Die Reverse, where the “FIVE CENTS” inscription appears doubled. Rarity combined with collector demand drives the market value for these pieces.

Identifying and Assessing Your Coin

To assess your Buffalo Nickel, locate the date and mint mark. The date is on the obverse (front), on the Native American’s shoulder below the neck. The mint mark, if present, is on the reverse (back), underneath the buffalo and below “FIVE CENTS.” Dates often wear off due to their raised placement, but even unreadable dates can still hold some value.

Next, visually inspect the coin’s condition. Examine the Indian’s portrait for clarity, noting how much of the braid and hair details are visible. On the reverse, observe the buffalo’s horn, head, and fur details; a more defined image indicates less wear. Avoid cleaning the coin. Cleaning can cause microscopic scratches, alter the coin’s original surface, or remove its natural patina, which reduces its numismatic value.

While inspecting for wear, look for characteristics of known varieties and errors. For instance, if your coin is a 1937-D, examine the buffalo’s front right leg to see if it appears partially or entirely missing, a key indicator of the “3-Legged” variety. For doubled die errors, scrutinize the date, inscriptions like “FIVE CENTS,” and other design elements for any noticeable overlapping or blurring. A magnifying glass can assist in identifying these details.

Determining Market Value and Selling

After identifying the date, mint mark, and assessing your Buffalo Nickel’s condition, you can determine its market value. Utilize reputable price guides and online resources for coin collectors. Publications such as “A Guide Book of United States Coins,” often referred to as the “Red Book,” and online databases from PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation), provide estimated values for various dates, mint marks, and grades. These are guides, and actual selling prices can fluctuate based on market demand.

For coins you suspect might be valuable, seeking a professional appraisal is a prudent step. Certified numismatists or reputable coin dealers can provide an expert assessment of your coin’s authenticity, grade, and market value. This professional opinion is especially beneficial for rare dates, key varieties, or coins in higher grades, as it can confirm their true worth and provide a basis for sale.

When selling your Buffalo Nickel, several avenues are available. Local coin dealers offer immediate payment, though their offers might be lower than what you could achieve elsewhere due to their need for a profit margin. Online auction sites can reach a broader audience, potentially yielding higher prices, but they often involve fees and require you to manage the listing and shipping. Specialized coin auctions and numismatic shows provide platforms for selling rare or high-value coins to serious collectors, potentially maximizing returns.