Are Your Buffalo Nickels Worth Anything?

The Buffalo Nickel, also known as the Indian Head Nickel, holds a place in American coinage history. Designed by sculptor James Earle Fraser, this five-cent coin was minted from 1913 to 1938, depicting the American frontier and Native American culture. Its imagery, featuring a Native American profile on one side and an American bison on the other, has made it a popular and recognizable coin. While many Buffalo Nickels are common, certain factors can increase their worth, appealing to enthusiasts and collectors. The design’s appeal has even led to its use on modern commemorative coins and bullion pieces.

Factors Determining Value

A Buffalo Nickel’s worth is influenced by several factors. The physical condition, or grade, of the coin is important, as even slight differences in wear can alter its market value. Coin grading ranges from heavily circulated conditions like “Good” or “Very Fine” to pristine “Uncirculated” or “Mint State” conditions, with higher grades commanding higher values. For instance, an uncirculated Buffalo Nickel can range from $15 to $25, while top-graded rare examples have sold for hundreds of thousands of dollars.

The year of mintage also plays an important role, with earlier dates or years of lower production often being more valuable. Coins produced in San Francisco (S mint mark) typically had lower mintage numbers than those from Philadelphia (no mint mark) or Denver (D mint mark), making them scarcer. For example, dates like the 1921-S, 1924-S, and 1926-S are valued for their low mintages. The mint mark, indicating where the coin was produced, is found on the reverse side below “FIVE CENTS” for Denver and San Francisco issues, while Philadelphia coins have no mark.

Varieties and error coins exhibit premiums. The “1937-D Three-Legged Buffalo” is a known error where excessive die polishing at the Denver Mint caused the bison’s front leg to appear missing. Another sought-after anomaly is the “1916 Doubled Die Obverse,” where the date and other features on the obverse appear visibly doubled due to a misalignment during the die-making process. Such errors, even in circulated condition, can be worth thousands of dollars, with uncirculated examples reaching much higher values.

Identifying Your Buffalo Nickel’s Features

Examining your Buffalo Nickel for specific features can help in determining its potential value. The date is located on the obverse (front) of the coin, positioned below the Native American’s head. Due to the coin’s design and circulation, the date often wears off, but tilting the coin under a light source may reveal faint outlines. It is important to avoid any abrasive cleaning or chemical methods, as these can damage the coin and reduce its value.

The mint mark, if present, is found on the reverse (back) of the coin, below the denomination “FIVE CENTS.” A “D” signifies production at the Denver Mint, an “S” indicates the San Francisco Mint, and the absence of a mint mark means it was struck at the Philadelphia Mint. Carefully observe this area to identify the mint mark.

When looking for specific varieties, visual cues are important. For the “1937-D Three-Legged Buffalo,” inspect the bison on the reverse side; its front right leg will be largely absent. A diagnostic feature for this variety is also a “stream” of raised metal beneath the bison’s belly. For the “1916 Doubled Die Obverse,” examine the date “1916” and the Native American’s feathers and hair ribbon on the obverse for a duplicated appearance. This doubling can often be seen without magnification, even on circulated coins.

Assessing and Realizing Value

After identifying the date, mint mark, and any potential varieties, the next step involves consulting resources to estimate your coin’s value. Coin price guides, such as “A Guide Book of United States Coins” (often called the “Red Book”), provide estimated values based on date, mint mark, and condition. Online coin dealer websites and auction house results can also offer market pricing, allowing for comparison with coins in similar condition. Remember that these guides offer a range, and actual sale prices can vary.

For coins believed to be valuable, professional appraisal and third-party grading are recommended. Services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) authenticate coins, assign a standardized grade, and encapsulate them in secure holders. This process establishes market value and increases buyer confidence, which is important for rare or error coins. While there are fees associated with these services, they can be worthwhile for valuable pieces.

When considering selling a valuable Buffalo Nickel, several avenues are available. Coin dealers often purchase coins outright or offer consignment services. Online auction platforms provide a reach to potential buyers, but they may involve seller fees and require careful management of listings. Specialized coin auction houses cater to high-value items, offering marketing and access to collectors, though they typically charge a commission on the sale.

The Buffalo Nickel, also known as the Indian Head Nickel, holds a place in American coinage history. Designed by sculptor James Earle Fraser, this five-cent coin was minted from 1913 to 1938, depicting the American frontier and Native American culture. Its imagery, featuring a Native American profile on one side and an American bison on the other, has made it a popular and recognizable coin. While many Buffalo Nickels are common, certain factors can increase their worth, appealing to enthusiasts and collectors. The design’s appeal has even led to its use on modern commemorative coins and bullion pieces.

Factors Determining Value

A Buffalo Nickel’s worth is influenced by several factors. The physical condition, or grade, of the coin is important, as even slight differences in wear can alter its market value. Coin grading ranges from heavily circulated conditions like “Good” or “Very Fine” to pristine “Uncirculated” or “Mint State” conditions, with higher grades commanding higher values. For instance, an uncirculated Buffalo Nickel can range from $15 to $25, while top-graded rare examples have sold for hundreds of thousands of dollars.

The year of mintage also plays an important role, with earlier dates or years of lower production often being more valuable. Coins produced in San Francisco (S mint mark) typically had lower mintage numbers than those from Philadelphia (no mint mark) or Denver (D mint mark), making them scarcer. For example, dates like the 1921-S, 1924-S, and 1926-S are valued for their low mintages. The mint mark, indicating where the coin was produced, is found on the reverse side below “FIVE CENTS” for Denver and San Francisco issues, while Philadelphia coins have no mark.

Varieties and error coins exhibit premiums. The “1937-D Three-Legged Buffalo” is a known error where excessive die polishing at the Denver Mint caused the bison’s front leg to appear missing. Another sought-after anomaly is the “1916 Doubled Die Obverse,” where the date and other features on the obverse appear visibly doubled due to a misalignment during the die-making process. Such errors, even in circulated condition, can be worth thousands of dollars, with uncirculated examples reaching much higher values.

Identifying Your Buffalo Nickel’s Features

Examining your Buffalo Nickel for specific features can help in determining its potential value. The date is located on the obverse (front) of the coin, positioned below the Native American’s head. Due to the coin’s design and circulation, the date often wears off, but tilting the coin under a light source may reveal faint outlines. It is important to avoid any abrasive cleaning or chemical methods, as these can damage the coin and reduce its value.

The mint mark, if present, is found on the reverse (back) of the coin, below the denomination “FIVE CENTS.” A “D” signifies production at the Denver Mint, an “S” indicates the San Francisco Mint, and the absence of a mint mark means it was struck at the Philadelphia Mint. Carefully observe this area to identify the mint mark.

When looking for specific varieties, visual cues are important. For the “1937-D Three-Legged Buffalo,” inspect the bison on the reverse side; its front right leg will be largely absent. A diagnostic feature for this variety is also a “stream” of raised metal beneath the bison’s belly. For the “1916 Doubled Die Obverse,” examine the date “1916” and the Native American’s feathers and hair ribbon on the obverse for a duplicated appearance. This doubling can often be seen without magnification, even on circulated coins.