10 Most Valuable Nickels
Mar 4th 2024
Valuable Nickels To Collect
There are infinite U.S. coins that have value to coin collectors for a variety of reasons. Everyone’s coin collection is unique, and you never know what single piece they desperately need, including some classic rare nickels. Most of the valuable nickels on the list we put together are rather old and, subsequently, rare and valuable. Other than how rare they are, nickels coin values can be high due to their condition or historical significance as well.
What Are the 10 Most Valuable Nickels To Collect?
The most valuable nickels typically share common characteristics such as rarity, historical significance, condition, mint errors, and demand. Mint state coinage almost always has the highest coin values regardless of mintage or key dates.
1867 Shield Nickel (Proof With Rays)
The first coin on our list of valuable nickels is the 1867 Shield Nickel with Rays. This nickel was produced as a proof-only issue, meaning it was not intended for circulation and was only sold to coin collectors.
This five-cent coin is known as the “with rays” variety because it features rays emanating from the shield on the coin’s reverse design. The rays were later removed due to production difficulties and aesthetic concerns.
There is hardly anything more prized by a coin collector than a Proof coin. Unfortunately, during the mid and late 1800s, the U.S. Mint only issued Proof coins to the demand of collectors, which is why they’re such rare nickels. Only 25 Proof coins were minted in 1867, with no more than ten still in existence today.
1880 Shield Nickel
Another rare and valuable nickel is the 1880 Shield Nickel. Only 16,000 of these coins were minted for circulation, which is the lowest production of the entire Shield Nickel series.
The tricky part about such a low mintage number is that many of them are Proof like examples. Therefore a poorly-made proof example (there are many) can be presented as a circulation strike, which is worth much more than a Proof. For this reason, expert collectors only deal with certified examples from the PCGS, NGC, or similar grading organizations.
Less than two dozen Mint State examples have been certified by PCGS. Out of those, only one of these rare nickels graded MS66 exists, with none finer.
1913-D Buffalo Nickel Type 2
The next five-cent coin on our list of valuable nickels is the 1913-D Buffalo Nickel Type 2. 1913 is a key date because it was the first year Buffalo Nickels, sometimes called Indian Head Nickels, were produced.
Both the 1913-D Type 2 and the 1913-S Type 2 are rare; however, the 1913-D is one of the most difficult Buffalo Nickels to find in circulated grades. They’re about equal in rarity in Mint State and Gem condition from the Denver and San Francisco Mint branches.
Most of the specimens from this issue are decently struck. Like other early Buffalos, the luster of Mint State coins is a satin gray.
1916 Buffalo Nickel Doubled Die Obverse
Another Buffalo Nickel worth money is the 1916 Double Die Obverse. It’s an error coin that was caused by a faulty coin die at the Philadelphia Mint.
The doubling of the obverse design is clearly visible to the naked eye. It’s most prominent in the mintage date as well as the lips and chin of the Indian chief.
This five-cent coin is the most popular doubled die variety in the entire Buffalo Nickel series. There are only about 200 known examples of these rare coins in existence. They’re very tough to find going up the grading scale to About Uncirculated, with less than 15 Mint State examples known today.
1917-S Buffalo Nickel
Buffalo Nickels struck at the San Francisco Mint during the mid-1910s are known for being poorly struck. Finding a 1917-S Buffalo Nickel in a high grade would be a rarity.
During 1917, Buffalo Nickels were also struck at the Philadelphia and Denver Mint, but these rare five-cent coins are easily distinguishable by the “S” mint mark on the reverse. The 1917-S is rarer than the 1917-D in uncirculated grades. In Gem condition, the S Mints are still considered to be rarer than D Mints for every year from 1913 to 1919.
According to PCGS, a 1917-S Buffalo Nickel MS67 sold for an auction record of $138,000 in 2008.
1918/7-D Buffalo Nickel Doubled Die Obverse
The 1918 7-D Denver Mint Buffalo Nickel is recognized as one of the most important 20th Century numismatic rarities. It’s a bold Overdate error coin that is rare in circulated grades, very rare in Mint State, and nearly impossible to find in Gem condition.
The doubled die obverse error of the 1918/7-D Buffalo Nickel was not discovered by numismatists until 1930. All genuine 1918/7-D five-cent coins can be identified by a “D” mint mark that tilts to the left.
1918-S Buffalo Nickel
Buffalos minted in 1918 are a key date because the U.S. was in the midst of World War I. Since most of the industrial production was focused on producing war goods, very few uncirculated examples were saved for coin collectors.
The 1918-S Buffalo Nickel is scarce in circulated grades, rare in Mint State, and extremely rare in Gem condition. Sharply struck examples can be hard to come by. According to PCGS Auction Prices, a 1918-S Buffalo Nickel MS66 sold for an auction record of $125,350 in 2008.
1919-S Buffalo Nickel
Issued one year later, the 1919-S Buffalo Nickel also made our list of most valuable nickels. Even with a mintage of 7,521,000 pieces, these Indian Head Nickels are still not easy to come by due to coin collectors hoarding them in the 1930s through the 1950s.
As with other Buffalos produced at the San Francisco Mint during this era, weak strikes from worn dies are the norm. In Gem condition, the 1919-S Buffalo is a key date in the series, but they’re exceedingly rare high grades.
The NGC Price Guide states a 1919 Buffalo Nickel in circulated condition is worth between $5 and $595.
1920-D Buffalo Nickel
The 1920-D Buffalo Nickel is one of the most valuable coins due to its rarity. This rare Indian Head is a scarce issue in all grades, with even circulated examples graded Fine or Very Fine proving hard to locate. In uncirculated condition, the 1920-D Buffalo is rarer than most other Denver Mint issues in the series.
Out of 9,418,000 five-cent coins produced that year, fewer than 5,000 remain, with less than 100 graded MS65 or above. Less than a dozen examples are certified by PCGS and NGC as MS66, all of them taking five-figure prices.
1924-S Buffalo Nickel
The 1924-S Buffalo Nickel has long been prized in any grade. This issue had one of the lowest mintages in the Buffalo series. Whenever one of these examples goes up for sale, coin collectors tend to snap them up quickly.
Among other Buffalos struck at the San Francisco Mint in the 1920s, this date is more often found with a decent strike than others. There have been three repunched mint mark varieties noted, but they’re too minor to attract much attention on a coin that is already valuable in most grades.
Add Rare Nickels to Your Coin Collection
Whether you’re looking for gold bullion or a rare Liberty Head Nickel, you need a coin dealer you can rely on. As an NGC Authorized Dealer with a Better Business Bureau rating of A+, you can trust your collection will be of the finest quality.
At Bullion Shark, we have Jefferson Nickels, War Nickels, and other classic rare coins that are perfect for any beginner or advanced collector.
Sources:
Shield Nickel - PCGS CoinFacts | PCGS
Buffalo Five Cents (1913-1938) | Coin Explorer | NGC
Type 2, "FIVE CENTS" In Recess | PCGS CoinFacts
Differences Between Proof & Prooflike Coins | PCGS
Nickel | U.S. Mint
The Top 15 Most Valuable Nickels | The Spruce Crafts
FAQ
1. What makes a nickel valuable?
A nickel becomes valuable due to several factors including rarity, demand, historical significance, mint errors, and condition. Rare nickels from limited mintages, those with errors from the minting process, and older nickels in exceptionally good condition (especially those from key dates) are typically the most valuable. Collector interest can also significantly influence a nickel's value.
2. Which nickels are worth money?
Several nickels are known for their high value:
- The 1913 Liberty Head Nickel, with only five known to exist, is one of the most valuable U.S. coins.
- The 1942-1945 silver war nickels, which contain 35% silver, have a higher base value due to their metal content.
- The 1937-D 3-Legged Buffalo Nickel is highly sought after due to a minting error that resulted in the buffalo appearing to have only three legs.
- The 1950-D Jefferson Nickel is valued for its low mintage and high demand among collectors.
3. How can I find out if my nickel is valuable?
To determine if your nickel is valuable, start by identifying its date, mint mark, and any unique features or errors. Consult a current coin value guide or a professional coin grading service for an accurate assessment. Condition plays a significant role in value, so consider having your nickel professionally graded.
4. Are there any modern nickels that are valuable?
Yes, some modern nickels can be valuable, especially those with mint errors or those struck in limited quantities for collectors. For example, certain proof or special mint set issues, like the 1994-P and 1997-P Matte Finish Jefferson Nickels, have a higher value. Error nickels, such as off-center strikes or doubled dies from any era, can also be valuable.
5. What should I do if I think I have a valuable nickel?
If you believe you have a valuable nickel, handle it carefully to avoid any damage. Consider having the coin authenticated and graded by a reputable coin grading service like PCGS or NGC. This not only confirms the coin's authenticity and condition but also helps in determining its market value. For selling, consult with reputable coin dealers or consider auction houses specializing in rare coins.
6. How do mint errors affect a nickel's value?
Mint errors can significantly increase a nickel's value, especially if the error is rare or particularly noticeable. Errors such as doubled dies, off-center strikes, or missing elements make a nickel unique, and collectors often pay a premium for these anomalies. The value increase depends on the type of error, its visibility, and how it affects the coin's overall appeal.
7. Can I find valuable nickels in circulation today?
The grading scale for nickels operates on a system that assesses the coin's condition, ranging from Poor, where the coin's details are barely recognizable, to Perfect Mint State, which indicates a coin in pristine condition with no signs of wear. The grade of a nickel profoundly influences its value; higher-grade coins are more sought after due to their superior condition and appearance. Factors considered in grading include the coin's luster, the sharpness of its design details, and any signs of wear or damage. A nickel in a higher grade, such as Mint State, commands a higher price in the market compared to one in a lower grade like Good, due to its better preservation and the rarity of finding older coins in such excellent condition.
8. How does the grading scale work for nickels, and how does each grade affect the value of a nickel?
The grading scale for nickels, like other coins, ranges from Poor (P-1) to Perfect Mint State (MS-70). The grade of a nickel significantly impacts its value; higher grades indicate better preservation and fewer blemishes, making the coin more desirable to collectors. For example, a nickel in Good (G-4) condition will be worth less than the same nickel in About Uncirculated (AU-50) or Mint State (MS-65) condition. The scale includes various factors such as luster, strike quality, and the presence of wear or damage.
9. What are the most common mint errors to look for in nickels that could increase their value?
The most common mint errors in nickels that could significantly increase their value include doubled dies, off-center strikes, blank planchets, and die cracks. Doubled dies occur when the coin's design is imprinted twice by the die, often visibly doubling letters, numbers, or other design elements. Off-center strikes happen when the coin blank is not properly aligned in the press, resulting in a coin that is partially missing its intended design. Blank planchets are essentially coins that missed the striking process altogether, leaving them without any design - a rare occurrence for finished coin products. Die cracks are flaws that appear as raised, irregular lines on the coin's surface, caused by cracks in the die itself during the striking process. Each of these errors can make a nickel unique and highly sought after by collectors, often fetching prices well above their face value or even standard collectible value in the numismatic market.
10. How can collectors safely store and display their valuable nickels to preserve their condition?
When it comes to storing and displaying valuable nickels, the key is to protect them from environmental hazards that can cause deterioration. Collectors are advised to use storage solutions made from inert materials that do not react chemically with the coins. Individual holders, such as Mylar flips or acrylic capsules, offer good protection by shielding the coins from air, moisture, and physical contact. For those who wish to display their collection, using albums or display cases that allow for visibility while offering protection is recommended. Materials containing PVC should be avoided as they can degrade over time and release substances harmful to the coins. Keeping the coins in a controlled environment with stable temperature and humidity levels further ensures their preservation.