1923 Buffalo Nickel
The 1923 Buffalo Nickel, also known as the Indian Head Nickel, is a significant coin for collectors. Struck at the Philadelphia Mint, this coin features a Native American profile on the obverse and a buffalo on the reverse. Its value varies based on condition, with circulated examples typically worth $1 to $30, and uncirculated coins ranging from $150 to over $1,000. High-grade specimens and those with full horn details on the buffalo are especially sought after. Continue reading to learn more about 1923 Buffalo nickel value.
AUCTION RECORD: $18,400 • MS67
Image source: PCGS
The U.S. Mint has produced some of the highest quality and most iconic coins the world over, and the 1923 Buffalo nickel is no exception. Fewer coin series have had the worldwide appeal as the Buffalo nickel series, which was first designed in 1913, and are now a much sought after coin-type for collectors. Collectors love this coin for the American history it represents, and for its stunning and uniquely American design. Even at the time, the new idea of assembling coin collections that included an example of each date and mintmark issue was just beginning to take hold and gain in popularity.
1922 Mint Hiatus
In 1922, the U.S. Mint did not strike any Buffalo nickels at any of their minting locations. This is believed to be due to an economic downturn during this time due to the Spanish Flu of 1918, which put coin striking on the back-burner. The director of the Mint, Frank Scoby, received hundreds of letters from outraged citizens who wanted new Buffalo nickels minted. Many scholars note that during 1922, many other coins besides the Buffalo nickel were produced, leaving lots of questions for coin collectors today.
1923 Buffalo Nickel Value
The value of a 1920 Buffalo Nickel varies widely based on its condition and mint mark. In circulated condition, these coins typically range from $1 to $20. Uncirculated examples can fetch between $50 and $400, while those with exceptionally high grades or full horn details on the buffalo can command prices of over $1,000. The 1920 Buffalo Nickel is a prized coin among collectors due to its historical significance and classic design.
Finding a 1923 Buffalo nickel in good condition is important to many collectors. Like any coin as old as this one, the value is tied to the condition of the coin. Stay on the lookout for clear edges on the design, and a clear engraving of the date, any inscriptions, and cent-value. Highly circulated coins go for, on average, around two dollars - making this an affordable and accessible coin to kick off a collection. A mint condition coin is valued at sixty-five dollars.
Type of coin: Nickel
Year: 1923
Mint Mark: No mint mark
Total mintage: 35,715,000
Metal content: 75% Copper, 25% Nickel
Face value: Five Cents
Weight: 5 grams
Edge: Plain
Designer: James Earle Fraser
Diameter: 21.2 millimeters
FAQ
What is the value of a 1923 Buffalo Nickel?
The value of a 1923 Buffalo Nickel varies based on its condition. In circulated condition, it can range from $2 to $20. Uncirculated examples can be worth between $50 and $500, with those in exceptional condition fetching higher prices.
What are the key features of the 1923 Buffalo Nickel?
The 1923 Buffalo Nickel features a Native American profile on the obverse and an American bison (buffalo) on the reverse. The designer was James Earle Fraser.
Are there any rare varieties of the 1923 Buffalo Nickel?
The 1923 Buffalo Nickel does not have major varieties or mint errors that significantly increase its value. However, finding one in high grade with a full horn detail on the buffalo can be rare and more valuable.
What mint marks are found on the 1923 Buffalo Nickel?
The 1923 Buffalo Nickel was minted only at the Philadelphia Mint and does not carry a mint mark.
How can you determine the grade of a 1923 Buffalo Nickel?
The grade of a 1923 Buffalo Nickel is determined by assessing the wear and detail on the coin, particularly the detail in the hair of the Native American and the buffalo's horn on the reverse.
Why is the 1923 Buffalo Nickel popular among collectors?
The 1923 Buffalo Nickel is popular among collectors due to its historical significance, classic design, and the challenge of finding well-preserved examples.
How can you tell if a 1923 Buffalo Nickel is authentic?
Authenticating a 1923 Buffalo Nickel involves examining its weight, dimensions, and details against known specifications. Consulting a professional grader or numismatist can also ensure authenticity.
What materials are used in the 1923 Buffalo Nickel?
The 1923 Buffalo Nickel is composed of 75% copper and 25% nickel.
How should you store a 1923 Buffalo Nickel to preserve its condition?
To preserve the condition of a 1923 Buffalo Nickel, store it in a dry, cool environment using acid-free holders or capsules to prevent tarnish and damage.
What is the historical significance of the 1923 Buffalo Nickel?
The 1923 Buffalo Nickel is significant for its depiction of Native American culture and American wildlife, reflecting early 20th-century themes and contributing to its historical and cultural value.