From among America's greatest coinage, the Buffalo Nickel surely shares the
top podium. The 1937 Buffalo Nickel is one of the most iconic coins in
American coinage, featuring one of the timeless designs with immense value.
The coin has a face value of five cents, but its worth can be significantly
higher depending on various factors.
In this 1937 Buffalo Nickel value guide, we will explore everything you need to know about its worth, including how grading, mint marks, rare error varieties,
and market trends affect its valuation.
Introduction to the 1937 Buffalo Nickel
Minted between 1913 and 1938, the Buffalo Nickel is a staple in American coin
collections. The Buffalo Nickel, with a denomination of five cents, is a
staple in American coin collections. The 1937 Buffalo Nickel remains a key
year for collectors, offering a blend of standard and rare varieties.
Its design, which features a Native American on the obverse and an American
buffalo on the reverse, designed by James Earle Fraser, is recognized
worldwide.
Follow along to determine the current market value of the 1937 Buffalo Nickel!
Key Takeaways
-
The 1937 buffalo nickel was the second last issue of the Buffalo nickel
series minted from 1913 to 1938.
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The 1937 buffalo nickel value ranges from $1 to $95,000 depending on the
condition, mint mark, error, and finish (regular strike or proof).
-
These nickels were struck at the US mint facilities of Philadelphia,
Denver, and San Francisco, where Philadelphia also struck limited proof
editions.
-
The 1937-D Three-Legged Buffalo Nickel is the most famous error of the 1937 issue, with values reaching up to $150,000 for elite specimens.
Buffalo Nickel History
The Buffalo Nickel series was minted from 1913 to 1938. The 1937 issue saw a robust production, but high-grade 1937 Buffalo Nickels remain a rare find for collectors due to the heavy circulation these coins endured during the era.
Before the Buffalo Nickel came into existence, the Liberty Head Nickel was issued
in 1883. This changed when Congress signed the Act making it mandatory for coins to be redesigned
after 25 years. Thus, the nickels, along with silver coins were
eligible for redesign.
The US Mint appointed James Earle Fraser to fulfill President Roosevelt’s vision for more artistic designs. Finally, on January 7, 1913, Fraser’s approved design was sent to production and the mintage officially began!
Design of the Buffalo Nickel
Obverse
Designed by renowned sculptor James Earle Fraser, the obverse features a
striking portrait of a Native American Chief. The word 'Liberty' is inscribed near the
portrait, paying homage to the legacy of freedom.
Did you know?
The Buffalo Nickel was the first U.S. coin to feature an animal! It featured
an American bison, rumored to be modeled after "Black Diamond" from the Central Park Zoo.
Reverse
The reverse features a powerful American bison. The design includes the inscriptions "FIVE CENTS" and "UNITED STATES OF AMERICA" at the bottom and top rims, respectively.
Other Features
| Diameter |
21.21 mm |
| Edge |
Plain |
| Composition |
75% Copper, 25% Nickel |
| Face Value |
5 CENTS |
| Designer |
James Earle Fraser |
1937 Buffalo Nickel Mint Marks
The mint mark tells you where the coin was struck and is a primary factor in 1937 Buffalo Nickel mintage scarcity.
1. 1937 No Mint Mark Buffalo Nickel
Struck at the Philadelphia Mint, these coins lack a mint mark. While they are the most common, high-grade specimens are still valued. Depending on the condition, these can range from $9 to over $30,000 for MS68+ grades.
2. 1937-D Buffalo Nickel
The Denver Mint produced fewer coins than Philadelphia. Standard "D" mint mark nickels in uncirculated condition fetch a premium, especially when the strike is sharp and the luster is full.
3. 1937-S Buffalo Nickel
The San Francisco Mint produced a relatively low mintage for this year. S-mint nickels are highly prized in MS66 and higher grades, often outperforming Philadelphia coins in today's 2026 auction markets.
4. 1937 Philadelphia Proof Coins
A limited run of only 5,769 proof nickels was struck in Philadelphia. These PR (Proof) Buffalo Nickels feature a distinct finish and can fetch between $475 and $1,350 based on 2026 estimates.
1937 Buffalo Nickel Condition and Grades
The value of a 1937 Buffalo Nickel is heavily influenced by its professional grade.
- Good (G): Heavy wear; the date and design are visible but flattened.
- Fine (F): Moderate wear; half of the Indian's hair braid detail is visible.
- Extremely Fine (EF): Minimal wear; the bison's horn and the Indian's cheek are sharp.
- Mint State (MS): Uncirculated condition with full mint luster; these coins command the highest prices.
