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 guide, we will explore everything you need to know about the 1937 Buffalo Nickel value, including how grading, mint marks, rare error varieties, and market trends affect its worth.
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.
Hop on this journey to determine the value of the 1937 Buffalo Nickel!
The Buffalo Nickel series, which includes the 1937 Buffalo Nickel, was minted from 1913 to 1938. The 1937 Buffalo Nickel, surprisingly had a mintage of only 79,480,000 coins, which is pretty less for a coin that was prominently used for monetary transactions, making it a rare find for collectors.
Before Buffalo Nickel came into existence, the Liberty Head Nickel was issued in 1883, designed by Mint engraver Charles E. Barber. This changed when the Congress signed the Act that made it mandatory for coins to be redesigned after 25 years of mintage. Thus, the nickels, along with silver dollar were eligible for redesign, but the same Liberty head nickel was struck until 20th Century.
The US Mint appointed Saint Guadens to redesign the coins and fulfill President Roosevelt’s disappointment over artistic designs. However, after his demise in 1907, the nickel was still pending to be redesign. Following a chain of dramatic twists and turns, the mint associated James Earle Fraser with the redesign.
Finally on January 7, 1913, Fraser’s approved design was sent to production and the mintage for the Buffalo Nickel officially began!
Designed by the renowned sculptor James Earle Fraser, the coin features a striking portrait of a Native Indian American Chief on the obverse and an American bison on the reverse. The word 'Liberty' is inscribed near the portrait carrying the legacy of freedom depiction while paying homage to the previous Liberty Head design.
Did you know?
The Buffalo Nickel was the first U.S. coin to feature an animal! It featured an American bison, known as Black Diamond from the Central Park Zoo.
The bison depicted on the coin is often attributed to a specific bison named Black Diamond, which was housed in the New York City Zoo. Along with the Bison, the design also includes inscriptions of face value and country of issue as “FIVE CENTS. UNITED STATES OF AMERICA.”
| Diameter | 21.21 mm |
| Edge | Plain |
| Composition | 75% Copper, 25% Nickel |
| Face Value | 5 CENTS |
| Designer | James Earle Fraser |
The mint mark on a coin tells you where it was minted, and it can significantly affect the coin's value. The denomination of a coin, along with the mint mark, which indicates its value, is also an important factor.
The Philadelphia Mint did not use a mint mark on their coins. These are the most common 1937 Buffalo Nickels, and they typically have lower values compared to those with a mint mark. Due to the high mintage, the no-mintmark nickels are easily accessible making them comparatively less valuable.
The Philadelphia mint was known for mass production of coins. The mint recorded production of around 79 million coins under three quarters, from which around 50,000 survive in all conditions. Depending on the condition, the 1937 no mint mark buffalo nickel can be worth money ranging from $9 to $30,000.
The Denver Mint produced fewer 1937 Buffalo Nickels compared to Philadelphia, which makes them a bit rarer. Coins with the D mint mark may carry a slightly higher value than their Philadelphia counterparts. Coins from the Denver Mint can be found in various circulated grades, impacting their market value.
The San Francisco Mint also produced fewer coins, and these can be considered rarer. S Mint Buffalo Nickels are highly prized, particularly in higher grades. The San Francisco Mint is one of the key mint facilities that produced the 1937 Buffalo Nickels, contributing to their rarity.
The Philadelphia Mint also produced the same five cent nickel but with the "business strike" also termed as proof condition. A limited of only 5,769 nickels were struck. An proof (PR) buffalo nickel can fetch money way more than its face value ranging from $475 to $1,350.
The 1937 Buffalo Nickel’s value is heavily influenced by its grade. Coin grades range from Good (G) to Mint State (MS), with various intermediate grades.
Good (G)
Heavy wear, but design is still visible. This is the lowest grade, and these coins generally hold the least value.
Fine (F)
Moderate wear, with many details still intact.
Very Fine (VF)
Slight wear, with most details still sharp.
Extremely Fine (EF)
Minimal wear, and all major details are well-defined.
Mint State (MS)
The mint state coins means they never left the mint, and have no wear at all. Often regarded as uncirculated condition, the mint state coins fetch the most money for any rare coin.
Higher-grade 1937 Buffalo Nickels, especially those in Mint State, can fetch higher prices, particularly if they feature rare mint marks or are part of error varieties like the Three Legged Buffalo.
One of the most sought-after varieties of the 1937 Buffalo Nickel is the 1937-D Three-Legged Buffalo Nickel. The reverse design of this Nickel features a bison with only three legs instead of four.
Being a rare minting error that is easily visible, makes it among the most valuable rare coins. This error occurred due to a die defect, which led to the buffalo on the reverse having only three legs.
The 1937-D Three-Legged Buffalo error coin is rare because only a small number of these coins were produced with this error. Collectors prize it for its rarity, and coins in excellent grades can be worth thousands of dollars at auction. Even coins with a Good or Fine grade can command a premium price. These coins have been sold for thousands of dollars at auction, reflecting their high demand and rarity.
1. Mint Marks: Examine the mint mark for clarity. Fake coins often feature poorly struck mint marks.
2. Weight and Size: A genuine Buffalo Nickel weighs approximately 5 grams and has a diameter of 21.2 mm.
3. Edge: The edge of a Buffalo Nickel should be smooth, not reeded. If the edge is reeded or has any other irregularities, it may not be a genuine coin.
4. Die Strikes: The details of the coin should be sharp and well-defined, with no signs of doubling or blurred areas. Check that the text inscribed on the coin is clear and matches known authentic examples.
Over the years, the price of high-quality 1937 Buffalo Nickels has increased, especially for rare varieties like the Three-Legged Nickel. The demand and rarity are directly connected with the accessibility of the coin in the open market; meaning the buffalo nickel value can also be drastically influenced by it.
A Mint State graded 1937-D Three-Legged Buffalo Error Nickel can sell for several thousand dollars at auction, depending on its condition.
Even coins in lower grades, such as Fine or Very Fine, can see price increases due to the rarity of the 1937-D Three-Legged Nickel.
1. Focus on Condition: The condition of the coin, meaning its strike, finish, and clarity of design, are necessary to be addressed. Your coin cannot just be a very nice coin, it should be in the best coindition for the optimal price.
2. Beware of Counterfeits: Counterfeit coins or those that have been altered can be a significant risk. If you own a nickel, its best to get it graded by PCGS or NGC, which are globally approved grading services.
3. Use Price Guides: Online price guides, such as the PCGS price guide or discuss your coin at online forums like eBay partner networks. This can provide valuable information on the current market value of Buffalo Nickels.
4. Work with Reputable Dealers: To Sell a rare nickel, opting for auction sites is the best step. Online auctions like the well-known Heritage auctions and PCGS or NGC auction houses will be ideal.
There it is! Everything you need to know about the 1937 Buffalo Nickel. This nickel remains one of the most collectible and valuable coins in American numismatics.
Investing in a 1937 Buffalo Nickel can prove to be an life changing move for you, only if you are ready to take the necessary risks! High Risk, High reward!
Since the 1913 buffalo nickel, many coin dealers have replicated the iconic design in numismatic coins as well as silver rounds that can be purchased. The US Mint's American Gold Buffalo is also availabe at BOLD at the best prices. Purchase the iconic coins at the highest grades, graded by PCGS or NGC at lowest prices!
Affiliations
Copyright BOLD Precious Metals 2025
