Is a Buffalo Nickel Worth Anything?

The Buffalo Nickel, also recognized as the Indian Head Nickel, circulated in the United States from 1913 to 1938. This iconic five-cent piece features a Native American profile on the obverse and an American bison on the reverse, representing a distinct era of American coinage. While many Buffalo Nickels today are worth only their face value or slightly more, certain issues can command substantial prices from collectors. Understanding the specific characteristics that elevate a common coin to a valuable collectible is important for anyone discovering one of these pieces.

Factors Determining Value

The value of a Buffalo Nickel is primarily influenced by its physical condition, its date of mintage and the mint where it was produced, and any manufacturing anomalies. These factors contribute to a coin’s rarity and desirability among numismatists.

Coin condition, or grade, is a key determinant of value, reflecting the amount of wear a coin has sustained. Professional grading uses a 70-point scale, where 1 signifies a barely identifiable coin and 70 represents a flawless, mint-state specimen. Common terms like “Good” (G-4), “Fine” (F-12), “Very Fine” (VF-20), “Extremely Fine” (EF-40), and “Uncirculated” (MS-60 to MS-70) describe increasing levels of preservation. A coin with minimal wear and strong details will be more valuable than a heavily circulated one, where features like the date might be worn smooth.

The year of mintage and the mint mark also affect a Buffalo Nickel’s value. Mint marks are small letters indicating where a coin was produced: “D” for Denver, “S” for San Francisco, and no mark for coins struck in Philadelphia. These marks, usually found on the reverse side beneath the “FIVE CENTS” inscription, can affect rarity because some mints produced far fewer coins in specific years. For example, a coin from a year with a low mintage from a branch mint will be more sought after than one from a high-mintage year from the Philadelphia Mint.

Beyond condition and minting details, “mint errors” and “varieties” can increase a Buffalo Nickel’s value. A mint error results from a mistake during the manufacturing process, such as an off-center strike or a doubled die. A variety refers to a slight alteration in the coin’s design or a die anomaly, like an overdate where one date is stamped over another. These unique imperfections make a coin distinctive and highly collectible, often commanding higher prices due to their scarcity.

Identifying Key Varieties and Dates

Certain Buffalo Nickels are known for their rarity and value, often due to low mintage figures or notable production errors. Recognizing these specific issues is an important step in assessing a coin’s worth.

One of the notable errors is the 1937-D “3-Legged” Buffalo Nickel, where excessive die polishing inadvertently removed one of the buffalo’s front legs, leaving only a hoof. This distinctive error makes it desirable, with values ranging from hundreds to tens of thousands of dollars depending on condition. Another notable error is the 1916 Doubled Die Obverse, which exhibits clear doubling on the date, making it rare and valuable even in lower grades. The 1918/7-D Overdate is also sought after, characterized by a “7” visible underneath the “8” in the date, a result of a die error at the Denver Mint.

Key dates with low mintage figures also contribute to the series’ value. The 1913 Type 2, particularly from the San Francisco Mint (1913-S Type 2), features a redesigned reverse where the “FIVE CENTS” inscription was recessed to prevent wear. Other scarce dates include the 1913-S, 1913-D, 1914-D, 1914-S, 1921-S, 1924-S, and 1926-S, all of which had low production numbers from the Denver and San Francisco Mints. Even common dates can achieve significant value if found in high, uncirculated grades.

Professional Appraisal and Selling

When a Buffalo Nickel suggests significant value, obtaining a professional appraisal is an important next step. A professional numismatist can provide an accurate assessment of a coin’s grade, authenticity, and market value. This expert evaluation is important for rare dates or those with potential errors, as it helps ensure a fair valuation.

To find a reputable appraiser or dealer, individuals can consult national numismatic associations, local coin clubs, or established online directories. Seek out certified numismatists who adhere to professional standards and ethical practices. For high-value coins, obtaining multiple opinions from different appraisers can provide a more comprehensive understanding of the coin’s worth. Appraisers may charge a fee for their services, which varies depending on the coin’s rarity and evaluation complexity.

After a professional appraisal, several avenues exist for selling a valuable Buffalo Nickel. Local coin dealers offer a direct and convenient option, providing immediate payment, though they typically purchase coins at a wholesale price. Online auction platforms, such as eBay, provide broad exposure to a large collector base, yielding higher prices, but require the seller to manage listing, shipping, and customer interactions. For highly valuable items, specialized coin auction houses, like Heritage Auctions or Stack’s Bowers, can offer extensive marketing and reach serious collectors, often resulting in competitive bidding, but they charge commissions.

Preserving Your Coin’s Value

Maintaining the physical condition of a Buffalo Nickel is important to preserving its numismatic value. Improper handling and storage can cause irreversible damage, diminishing its appeal and market value. Careful attention to preservation practices ensures the coin remains in its best state.

Proper handling techniques are important to prevent damage from oils, dirt, and physical abrasion. Always hold coins by their edges, minimizing contact with the obverse and reverse surfaces. Using clean, lint-free cotton gloves or nitrile gloves protect the coin from fingerprints and contaminants. Handling coins over a soft surface, like a velvet pad or thick cloth, also cushions them against accidental drops and prevents scratches.

Appropriate storage methods protect coins from environmental degradation. Use inert, archival-safe holders such as Mylar flips, non-PVC coin slabs, or albums designed for coin storage. Avoid common storage materials like PVC (polyvinyl chloride) flips, as these can degrade and release chemicals that damage a coin’s surface, causing discoloration and corrosion. Storing coins in a cool, dry environment, away from direct sunlight and extreme temperature fluctuations, helps prevent tarnishing and deterioration.

Never clean Buffalo Nickels or any collectible coins. Cleaning coins, even with seemingly gentle methods, reduces their numismatic value. Collectors prefer coins with their original “patina,” which is the natural toning and coloration that develops over time. Attempts to clean a coin can result in microscopic scratches, changes in surface luster, or chemical reactions that permanently alter its appearance, significantly decreasing its market value. If a coin appears dirty, professional conservation by a numismatic expert is the only appropriate course of action, as experts possess specialized knowledge and tools to treat coins without causing damage.