In 1911, Franklin MacVeagh, the Treasury Secretary, received a letter from his son Eames - and Eames posed a question that hadn’t been asked by the Treasury or the U.S. Mint. Why not beautify the nickel? Soon after this letter, Deputy Secretary Abram Andrews announced that a new nickel design would be commissioned for the U.S. Mint. They then reached out to sculptor James Earle Fraser to commission the soon to be iconic Buffalo nickel.
Coin Design Controversy
Deputy Secretary Andrews was greatly displeased with the Lincoln penny that was released in 1909, and had originally reached out to Fraser to create a new design for the One Cent piece. However, due to a previous act of Congress, cent designs could only be altered every twenty-five years. Fraser was anxious to create a new coin for the U.S. Mint, and his enthusiasm to design a new coin was part of the reason the Buffalo nickel came to fruition.
1913 Buffalo Nickel (Variety I) Values
The first Buffalo nickel struck in Philadelphia certainly carries a lot of historical value as well as financial value for collectors. Like all Buffalo nickels, the condition of the coin is the most important factor when determining value, due to the coin’s unique predisposition to wear and tear. While the average cost sits around twelve dollars for a Variety I 1913 Buffalo Nickel, an uncirculated coin is valued up to forty-five dollars. This is a must have for any discerning coin collector.
Type of coin: Nickel
Year: 1913
Mint Mark: No mint mark
Total mintage: 30,992,000
Metal content: 75% Copper, 25% Nickel
Face value: Five Cents
Weight: 5 grams
Edge: Plain
Designer: James Earle Fraser
Diameter: 21.2 millimeters