How Much Is A Buffalo Nickel Worth? Buffalo Nickel Value Guide

The famed Buffalo Nickel stands out against other nickel series produced by the United States Mint as an icon of American coinage. They were minted for 25 years, from 1913 to 1938, and one can only imagine the different hands they’ve touched over the years. Continue reading to learn more about Buffalo Nickel Value. 

Buffalo Nickels are not exactly at the top of the list for rare coins but remain popular among coin collectors due to their unique design and historical significance. Most circulated Buffalo Nickels are worth a small premium over their face value of five cents.

However, some buffalo nickel rare dates and error coins are more valuable.

What Are Buffalo Nickels?

The Buffalo Nickel, also known as the Five Cent Indian Head or Indian Head Nickel, is a well-known U.S. coin issued in the first half of the 20th century. It’s notable for being connected to the nation’s deep roots.

It was the first coinage produced by the United States Mint to feature a different animal other than the infamous eagle. The design on Buffalo Nickels features an American Indian chief on the obverse (front) and an American bison or buffalo on the reverse. The same iconic design also appears on modern American Gold Buffalos.

Buffalo Nickels are not reeded and have smooth edges that were struck out of a combination of metals that consists of very little nickel. They have no silver content; a mere 25% of the coin is nickel, and the other 75% is made of copper.

Who Designed the Buffalo Nickel?

President Theodore Roosevelt was not happy with the design of the coins circulating in 1904. However, he couldn’t do anything about it right away because a congressional act was passed in 1890 that prevented the U.S. Mint from creating new designs on existing coins until 25 years after their original minting.

As soon as it was allowed in 1912, American sculptor James Earle Fraser designed the Buffalo Nickel in an attempt to beautify American coinage. The coin’s design replaced the Liberty “V” Nickel (1883-1913) and was eventually replaced by the Jefferson Nickel we still use today.

Fraser was a student of the legendary sculptor Augustus Saint-Gaudens and one of the foremost portrait sculptors of his time. He was raised in South Dakota and personally witnessed the commercial expansion westwards. His frontier experience inspired him to perfectly showcase the native beauty of the American West.

He also sculpted a large number of monumental statues of U.S. presidents and other prominent historical figures. Fraser remains one of the most popular American sculptors of his generation. The End of The Trail (1915) is still on display at the National Cowboy & Western Heritage Museum in Oklahoma City.

Buffalo Nickel Key Dates

Buffalo Nickels tend to be rarer and more valuable the older they are, but age is not the only defining factor of the five-cent coin’s value. Of course, the Buffalo Nickels from the first few years of minting that are in excellent condition are highly sought after.

The Buffalo Nickel series is expansive. It encompasses 71 regular-strike coins along with major varieties and seven proof coins. Only a handful of Buffalo Nickels are scarce or very expensive in circulated condition.

These are a few key dates:

• 1913-S Type 2 Buffalo Nickel
• 1926-S Buffalo Nickel
• 1918/7-D Buffalo Nickel

Beyond these key dates, there is a long list of very valuable Buffalo Nickels on the market, such as the ones nicknamed “Three Legs” or any of the doubled die variety.

Buffalo Nickel Value: Numismatic vs. Face Value

The numismatic value of a specific coin refers to the value a seller receives for the sale of a collectible coin. This value is determined by the coin’s quality, rarity, and demand from collectors.

A coin’s face value, or nominal value, is the value declared by the issuing authority as stamped on the coin. The face value of a coin does not change according to the date of mintage or the quality.

The face value of a Buffalo Nickel is five cents, whereas the numismatic value of a Buffalo Nickel has the potential to vary quite a bit. Naturally, the most valuable coins are those in outstanding condition versus those in poor condition.

Unfortunately, the design approved for Buffalo Nickels did not hold up very well to wear and tear. Most of the circulated versions did not fare well as the date of mintage and FIVE CENTS denomination marking wore off fairly quickly.

Additionally, the dies used for the coin’s new design were wearing out much faster during production than the Liberty Head Nickel dies were previously. This ultimately led to some of the infamous error coins, such as the three-legged buffalo.

The Value of American Buffalo Nickels: Price Guide by U.S. Mint Mark

Buffalo Nickels were minted at the Philadelphia, Denver, and San Francisco Mint branches. You can tell which of the three U.S. Mint branches a Buffalo Nickel was issued by looking for the mint mark. This is on the reverse of the coin, just below the buffalo, under the denomination of FIVE CENTS.

The mint mark for Denver is “D,” the San Francisco mint mark is “S,” and the Philadelphia Mint has no mint mark. Mint marks that coincide with key date buffalo nickels can greatly affect a coin’s value.

San Francisco Mint

The San Francisco Mint has a glorious past. The U.S. Mint branch was established in 1854 when prospectors were risking their lives to find gold in hopes of a better opportunity.

Some of the most valuable Buffalo Nickels produced at the San Francisco Mint include:

• 1926-S MS66 Buffalo Nickel
• 1917-S MS67 Buffalo Nickel
• 1927-S MS66 Buffalo Nickel
• 1918-S MS66 Buffalo Nickel
• 1919-S MS66 Buffalo Nickel

Philadelphia Mint

The Philadelphia Mint has been producing coins as long as the U.S. federal government has been producing legal tender coins. First authorized by Congress in 1792, the Philadelphia Mint facility remained the largest producer of U.S. coins in the early 21st century.

Here are some of the most valuable Buffalo Nickels produced at the Philadelphia Mint:

• 1935 Doubled Die Reverse Buffalo Nickel
• 1916 Doubled Die Obverse Buffalo Nickel
• 1914 4/3 Buffalo Nickel
• 1937 Buffalo Nickel

Denver Mint

The Denver Mint was established by Congress in 1862, but it operated as an assay office for more than four decades, not producing coins but determining the quality of bullion. It was created exclusively for the coinage of gold, but it didn’t strike its first coins until February 1906.

A lot of the most valuable Buffalo Nickels on the market were produced at the Denver Mint:

• 1918/7 D Buffalo Nickel
• 1913 D Type 2 Buffalo Nickel
• 1920 D Buffalo Nickel
• 1937 D Three-Legged Buffalo Nickel

Uncirculated Buffalo Nickels

Any of the Buffalo Nickel series in uncirculated condition will sell for a premium price versus the circulated versions that are likely worn out and missing the date or mint mark.

Uncirculated coins should have no signs of wear and tear on any of their surfaces. Buffalo Nickels in superb uncirculated condition are scarce but not rare.

Since Uncirculated Buffalos sell for a higher price, it’s important to make sure the coin is certified by a coin grading service like the NGC or PCGS.

More Rare U.S. Coins for Coin Collectors

At Bullion Shark, we have an extensive inventory of low-mintage and mint-error coins that are perfect for any collection.

If you’re new to coin collecting or a veteran of the hobby, reach out to one of our expert numismatists to get started.

FAQ

How much is a Buffalo Nickel worth?

Most circulated Buffalo Nickels are worth between $0.50 to $2.00. However, the value can rise significantly depending on the date, mint mark, and condition, with uncirculated examples fetching much higher prices.

What are the key dates for Buffalo Nickels?

Key dates that are more valuable include the 1913-S Type 2, 1914/3 overdate, 1914-D, 1915-S, 1921-S, 1924-S, 1926-S, and the 1937-D 3-legged variety.

What is the rarest Buffalo Nickel?

The 1918/7-D overdate nickel is one of the rarest Buffalo Nickels, known for its clear overdate error. The 1937-D 3-legged Buffalo Nickel is also extremely rare and valuable.

How do I identify a valuable Buffalo Nickel?

Check the date and mint mark located below the date on the reverse. Look for key dates and any unusual features like overdates or minting errors. Coins in higher grades (less wear) are also more valuable.

Can Buffalo Nickels be worth more if they have no date?

Typically, no-date Buffalo Nickels (where the date has worn off) are worth only a small amount, as their condition reflects extensive circulation. However, restoring the date through a professional process can sometimes help ascertain the coin's original mint year.

What does a 1937 Buffalo Nickel worth?

A standard 1937 Buffalo Nickel in good condition might be worth around $1.50 to $3. In uncirculated condition, it could be worth $15 to $30, significantly more if it's the rare 3-legged variety.

Why are some Buffalo Nickels dateless?

The dates on Buffalo Nickels can wear off quickly because the date was placed on a high point of the design. Over time and with sufficient circulation, the date can become unreadable.

What mint marks do Buffalo Nickels have?

Buffalo Nickels were minted in Philadelphia (no mint mark), Denver (D), and San Francisco (S). The mint mark is found below the denomination of FIVE CENTS on the reverse.

How can I tell if my Buffalo Nickel is a high-grade coin?

High-grade Buffalo Nickels have sharp and clear details, with minimal wear on the highest points of the design, like the Indian's cheekbone and the buffalo’s horn. The presence of original mint luster is also a positive sign.

What should I do if I find a Buffalo Nickel?

First, identify the date and mint mark to see if it's a common or a key date. For potentially valuable coins, consider having it professionally graded to confirm its condition and authenticity, which could significantly affect its value.

Source:

1918/7-D 5C (Regular Strike) Buffalo Nickel | PCGS

Fun Facts related to the Nickel | U.S. Mint

What Are Doubled Die Coins and How to Identify Them | The Spruce Crafts