How Much Is a 3-Legged Buffalo Quarter Worth?

The “3-legged buffalo quarter” refers to a specific and valuable mint error. This coin is not a quarter but rather a Buffalo Nickel. Its value stems from a manufacturing anomaly that occurred at the Denver Mint. This error coin is sought after by numismatists due to its rarity and history.

Understanding the 3-Legged Buffalo Coin

The coin is actually a Buffalo Nickel, minted from 1913 to 1938. It features a Native American portrait on its obverse and a bison on its reverse. The “3-legged” variety is a genuine mint error, not post-mint damage.

The error occurred in 1937 at the Denver Mint, creating the “1937-D 3-Legged Buffalo Nickel.” This anomaly was caused by overzealous polishing of coin dies by mint workers. Dies are polished to remove imperfections. The polishing was so extensive it erased the buffalo’s front right leg, leaving only a faint trace or hoof visible. This modification created one of the most famous error coins in U.S. history.

The 1937-D 3-Legged Nickel differs from the 1936-D 3-1/2 Leg Nickel, another error from over-polished dies at the Denver Mint. While both are errors, the 1937-D shows complete leg removal, while the 1936-D shows partial removal. Many entered circulation before the mistake was corrected.

Key Features for Identification

Identifying a genuine 3-legged Buffalo Nickel requires careful examination to differentiate it from altered coins. The most apparent characteristic is the absence of the buffalo’s front right leg on the reverse. A true error coin will show a smooth area or faint outline where the leg should be, appearing as if the bison stands on three legs. Altered coins might show tooling marks or inconsistencies where a leg was intentionally removed.

The coin must bear the date “1937” and a “D” mint mark, indicating it was struck at the Denver Mint, the only mint where this error occurred. The “D” mint mark is on the reverse, below “FIVE CENTS.” Other diagnostic features confirm authenticity. Genuine 1937-D 3-Legged Nickels often exhibit die erosion on the back of the Native American’s neck on the obverse, appearing rough or pitted.

Another diagnostic is a raised arc of metal beneath the buffalo’s belly, sometimes called a “stream.” This feature should be present on authentic examples. If the coin lacks these indicators, even if the leg appears missing, it could be an altered coin where the leg was ground off a standard 1937-D nickel. A magnifying loupe can assist in detecting these details and any signs of tampering.

Influencing Factors for Value

The value of a genuine 3-legged Buffalo Nickel is influenced by numismatic factors, primarily coin grading. Coin grading assesses the coin’s condition, including wear, scratches, luster, and visual appeal. Coins are graded on the Sheldon Scale, a 70-point system where higher numbers indicate better preservation. For instance, a “Good” (G-4) coin shows significant wear, while an “Uncirculated” (MS-60 to MS-70) coin appears new with no wear. A single grade difference can lead to substantial value variations.

The coin’s rarity, determined by its original mintage numbers and surviving examples, also plays a significant role. For error coins like the 3-legged Buffalo Nickel, their rarity is inherent due to the limited number produced before the mistake was discovered. The mint mark “D” is crucial for this error, as only nickels from the Denver Mint in 1937 exhibit this characteristic. While other mints produced Buffalo Nickels, their 1937 coins without the “D” mint mark do not possess this error and therefore lack the associated premium.

Collector demand also influences value, as certain coins become more popular over time. The 3-legged Buffalo Nickel is a highly sought-after variety due to its unique history and visual distinctiveness. Market trends and economic conditions can also affect demand, with increased interest in tangible assets sometimes driving up prices for rare coins. The overall strike quality, or how well the design details were imprinted on the coin, contributes to its appeal and value, particularly for higher-grade examples.

Seeking Expert Appraisal

Professional appraisal and authentication is a prudent step for a 3-legged Buffalo Nickel, especially given its potential value and the existence of altered or counterfeit versions. Professional appraisal ensures an accurate assessment of authenticity and condition for high-value error coins. Reputable coin appraisers and professional coin grading services offer this expertise.

Organizations such as the American Numismatic Association (ANA) can provide resources to find qualified numismatists. Professional third-party grading companies, primarily Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC), are widely recognized for their stringent authentication and grading processes. These services employ expert graders who examine the coin’s features, condition, and strike, assigning it a numerical grade.

The appraisal process typically involves submitting the coin to the grading service, often requiring a membership fee and a per-coin grading fee. For instance, PCGS and NGC offer various service levels, with fees ranging from approximately $20 to $150 or more per coin, depending on its declared value and desired turnaround time. After examination, the coin is encapsulated in a tamper-evident holder with its assigned grade and authentication details. This encapsulation protects the coin and provides buyer confidence in the marketplace.