The Timeless Appeal of Buffalo Nickels
The Buffalo Nickel, also known as the Indian Head Nickel, is one of the most iconic coins in American numismatics. Minted from 1913 to 1938, it features a bold and uniquely American design that captures the spirit of the Western frontier. Even decades after it was last struck, Buffalo Nickels continue to captivate collectors, with certain key dates and rare error varieties commanding staggering prices at auction.
This guide explores the most valuable Buffalo Nickels, their history, and what makes them so sought after by numismatists.
The Story Behind the Buffalo Nickel’s Design
Renowned sculptor James Earle Fraser designed the Buffalo Nickel, aiming to create a coin that was distinctly American in both artistic style and historical significance.
- Obverse: Features a composite portrait of three Native American chiefs—believed to be Iron Tail, Two Moons, and Big Tree—symbolizing the strength and resilience of Indigenous cultures.
- Reverse: Showcases a powerful American bison (buffalo), modeled after Black Diamond, a famous buffalo that once lived in the Central Park Zoo in New York City.
The intricate design made the coin visually striking, but also prone to wear and production issues, leading to its eventual replacement by the Jefferson Nickel in 1938.
Why Was the Buffalo Nickel Discontinued?
Despite its beauty, the Buffalo Nickel presented challenges for the U.S. Mint:
- Excessive Wear: The high-relief details caused the dies to deteriorate quickly, leading to production inefficiencies.
- Weak Dates and Lettering: Many Buffalo Nickels suffered from fading dates and inscriptions, making it difficult to identify them after circulation.
- Minting Difficulties: The complex design made it harder for the Mint to produce consistent, high-quality strikes.
While the Buffalo Nickel was ultimately replaced, its legacy lives on as one of the most collectible and valuable U.S. coin series.
The 25 Most Valuable Buffalo Nickels
Below is a ranked list of the rarest and most valuable Buffalo Nickels, along with what makes each of them unique.
- 1918/7-D Overdate Nickel – $350,000+
Features a clear overdate error, where the 1917 date was mistakenly re-punched with 1918. Extremely rare, making it the most valuable Buffalo Nickel. - 1916 Doubled Die Obverse – $300,000+
This coin exhibits strong doubling on the date and inscriptions, making it a prized collectible with few known examples. - 1926-S Buffalo Nickel – $250,000+
The lowest-mintage Buffalo Nickel, with only 970,000 pieces struck. Extremely difficult to find in high grades. - 1913-S Type 2 Buffalo Nickel – $175,000+
A first-year San Francisco issue featuring the revised "flat mound" reverse design. Scarce in Mint State. - 1937-D 3-Legged Buffalo Nickel – $125,000+
One of the most famous U.S. mint errors, caused by over-polishing of the die, removing the buffalo’s front leg. - 1914/3 Overdate Nickel – $110,000+
A rare overdate variety, where the 1914 date was struck over 1913, making it a must-have for serious collectors. - 1924-S Buffalo Nickel – $100,000+
Low-mintage and often poorly struck, making high-grade examples extremely valuable. - 1913-S Type 1 Buffalo Nickel – $90,000+
Features the original raised mound reverse, which was replaced later in 1913. A key first-year rarity. - 1935 Doubled Die Reverse – $85,000+
Strong doubling on the reverse inscriptions and buffalo’s back, making it one of the more noticeable doubled-die errors. - 1915-S Buffalo Nickel – $80,000+
A low-mintage key date that is challenging to find in well-struck condition. - 1921-S Buffalo Nickel – $75,000+
A scarce post-WWI issue, with weak strikes and low survival rates, making it difficult to find in high grades. - 1917-S Buffalo Nickel – $70,000+
A San Francisco Mint issue that suffered from weak striking, making well-defined examples extremely rare. - 1927-S Buffalo Nickel – $65,000+
A low-mintage issue with notoriously weak strikes, contributing to its rarity in Mint State. - 1919-S Buffalo Nickel – $60,000+
A San Francisco Mint rarity, often found with poor detail, increasing demand for high-quality specimens. - 1936-D 3-1/2 Legs Buffalo Nickel – $55,000+
A lesser-known but still significant mint error, where part of the buffalo’s leg is missing due to over-polishing. - 1918-S Buffalo Nickel – $50,000+
Known for its weak strikes and difficulty in finding high-grade examples, making it a top target for collectors. - 1938-D/S Buffalo Nickel – $45,000+
A rare over-mintmark error, where a Denver (D) mintmark was stamped over a San Francisco (S) mintmark. - 1937-D Doubled Die Obverse – $40,000+
This coin displays significant doubling on the date and lettering, making it a standout variety. - 1913-D Type 2 Buffalo Nickel – $35,000+
The Denver Mint’s Type 2 version is one of the earliest Buffalo Nickels and is highly sought after in top condition. - 1920-D Buffalo Nickel – $30,000+
Hard to find in Mint State due to poor strike quality and heavy circulation wear. - 1934-D Buffalo Nickel – $25,000+
Features striking quality issues, making well-preserved examples highly desirable. - 1923-S Buffalo Nickel – $22,000+
Weak strikes and limited availability in Mint State make it a challenging coin for collectors. - 1938-D Buffalo Nickel – $20,000+
The final year of the Buffalo Nickel series, only minted in Denver, adding to its collectibility. - 1925-S Buffalo Nickel – $18,000+
A San Francisco issue known for its poor strike quality, making high-grade coins a rarity. - 1929-S Buffalo Nickel – $15,000+
Despite a relatively high mintage, most were poorly struck and heavily circulated, making Mint State pieces valuable.
About Price Estimates
The estimated values provided for each Buffalo Nickel are based on recent auction results, collector demand, and market trends. However, actual prices can fluctuate based on:
- Coin Condition & Grade: Higher-graded coins fetch significantly higher prices.
- Market Demand: Rarity and collector interest can drive prices up or down.
- Authentication & Certification: Coins graded by PCGS or NGC maintain higher resale value and market trust.
For the most accurate valuation, it is recommended to consult a professional numismatist or have your coin certified by a reputable grading service.
How to Identify Valuable Buffalo Nickels
Because Buffalo Nickels are highly collectible, counterfeits and altered coins exist in the market. Here’s how to spot an authentic high-value piece:
- Look for Full Details – Key features like the buffalo’s horn and the date should be clearly visible.
- Check for Overdates & Mint Errors – Some of the most valuable Buffalo Nickels contain overdate varieties or die errors.
- Verify the Mint Mark – Some rare dates only exist from certain mints, such as San Francisco (S) or Denver (D) issues.
Buffalo Nickels: A Collector’s Classic with Lasting Value
Buffalo Nickels remain one of the most cherished U.S. coin series, admired for their historic significance, striking design, and strong collector demand. With key dates and rare varieties continuing to appreciate in value, this series presents exciting opportunities for both numismatists and investors.
For those looking to start or expand a Buffalo Nickel collection, understanding rarity, condition, and authentication is key. Buying from reputable dealers and consulting trusted numismatic resources ensures a smart investment in this classic American coin.
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