What Are the Most Valuable Buffalo Nickels?

The Buffalo Nickel, also known as the Indian Head Nickel, is a historic five-cent coin minted by the United States from 1913 to 1938. Its obverse features a profile of a Native American chief, while the reverse displays an American bison. This distinctive design has made the Buffalo Nickel a popular collectible since its introduction.

Factors Influencing Buffalo Nickel Value

Several fundamental elements determine a Buffalo Nickel’s value. Rarity is a primary factor, driven by mintage figures for specific years and mints. The presence and legibility of mint marks are also significant, as coins from certain mints can be rarer. The physical condition, or grade, plays a substantial role in its worth. Uncirculated coins with sharp details command higher prices than worn examples. The existence of known errors or varieties can increase a coin’s value. These production anomalies are prized by collectors.

Identifying Key Dates and Mint Marks

Locating the date and mint mark on a Buffalo Nickel is essential for determining its value. The date is positioned on the obverse, on the Native American’s shoulder, just above the designer’s initial “F”. Due to its raised placement, the date often wears down, sometimes becoming completely illegible.

The mint mark, if present, is found on the reverse side of the coin, below the denomination “FIVE CENTS” and beneath the buffalo. A “D” signifies the Denver Mint, an “S” indicates the San Francisco Mint, and the absence of a mint mark means the coin was produced at the Philadelphia Mint. Using a magnifying glass can help discern worn dates and faint mint marks.

The Most Sought-After Buffalo Nickels

Certain Buffalo Nickels are particularly valuable due to their low mintage, unique varieties, or significant errors. The 1913-S Type 2 is a notable example, as it features a revised “flat mound” reverse design and is scarce in high grades. The 1916 Doubled Die Obverse exhibits clear doubling on the date and other obverse elements, making it a rare and valuable error. The 1937-D 3-Legged Buffalo Nickel is a famous mint error. This variety resulted from excessive die polishing at the Denver Mint, which inadvertently removed the buffalo’s front right leg, leaving only a faint outline or hoof. Other valuable examples include the 1918/7-D Overdate, where the “8” in the date was struck over a “7,” and the 1935 Doubled Die Reverse, which shows noticeable doubling on the “FIVE CENTS” inscription. These coins, particularly in higher grades, can command prices from collectors.

Understanding Coin Condition

Coin condition, or grade, determines a Buffalo Nickel’s worth. Coin grading assesses the amount of wear a coin has sustained, from uncirculated specimens with no wear to heavily circulated examples. Key visual indicators include the clarity of the date, the completeness of the Indian’s braid and feather details, and the fullness of the buffalo’s horn and leg details. Grading terms signify different levels of wear:

Good (G) indicates a heavily worn coin where major details are weak but discernible, and the date is readable.
Fine (F) suggests moderate, even wear with most design elements clear.
Very Fine (VF) coins show lighter wear on the highest points, while Extremely Fine (EF) indicates sharp details with minimal wear limited to the highest spots.
Uncirculated (MS or Mint State) denotes a coin with no traces of wear, often retaining its original mint luster.

Even on uncirculated Buffalo Nickels, some details might appear soft due to the alloy’s hardness and striking process.