Whenever talking about Coin collecting, the Buffalo nickels can never be left out. The Buffalo nickels are popularized for their simplicity and value while being challenging for collectors to grab. This famous coin, sometimes called the Indian Head Nickel, is unique in the annals of American numismatics.
Understanding the buffalo nickel design and buffalo nickel history is essential for appreciating its artistic and historical significance.
The Buffalo Nickel was the first American coin to feature an animal (American Bison) other than an American bald eagle.
Artist James Earle Fraser sculptured Buffalo Nickel, the five-cent coin of the United States Mint, in 1912. The Buffalo nickel produced by the United States Mint is notable for its historical context and unique design, despite an initial design flaw that affected its denomination inscription. The Philadelphia Mint was the primary and bulk mintage place of buffalo nickels like the 2005 Buffalo nickels.
During this period, manufacturers of coin operated machinery, like the Hobbs Manufacturing Company, were also involved in discussions about coin design making it clear that the coin needs to be compatible with their respective devices.
Three Natives modeled for the American Indian effigy on the coin’s obverse. Before James passed away, he gave the names of two American Indians: Chief Two Moons of the Cheyenne and Chief Iron Tail of the Lakota Sioux. Unfortunately, he couldn’t remember the third Native American.
On February 22, 1913, exactly one year after the United States entered the World War of 1912, the first nickels bearing a buffalo design debuted at the National American Indian Memorial’s significant ceremonies in Fort Wadsworth, Staten Island, and New York City.
The approval process for the design was delayed for several months in 1912 by the company’s arguments with the Hobbs manufacturer. Yet the officials attempted to improve the coins’ designs, but these ended up with a worn appearance and indistinct strikes. The date was the earliest erased part on a mended nickel, located on a protruded portion at the bottom of the Indian’s face.
Eames MacVeagh advocated for a redesign of the five-cent piece in 1911.
The coin was produced mandatorily from 1913 to 1938. On its 25th anniversary in 1938, the Mint, which no longer made the Standing Liberty coin, placed the Jefferson nickel in circulation instead.
The Buffalo Nickel was originally designed by sculptor James Earle Fraser. The evolution of the coin's design involved debates between Clarence Hobbs and the Treasury department to effectively counter counterfeits with balanced art and depiction.
The front of the coin shows the side profile of a Native American facing to the right. The term “LIBERTY” is inscribed in small letters at the upper-right corner, and the date is shown at the lower left. The fine details and texture of the feathers and the man’s prominent cheekbones will reveal the coin’s condition.
The obverse side also features unique design elements such as the detailed headdress and the mint mark location, which are significant for identifying and valuing the Buffalo Nickel.
The Buffalo Nickel was the first U.S. five-cent piece with a design change made during a Treasury Secretary's administration.
The figure on the back of the coin was based on Black Diamond, an American bison living at the Central Park Zoo. On the reverse side, the bison is depicted standing on a raised mound, with the words “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” positioned above it.
The phrase “FIVE CENTS” is on a mound beneath the American bison. The reverse die played a significant role in the production of the Buffalo Nickel, with overpolishing sometimes affecting the detail, as seen in notable varieties like the 1937-D ‘three-legged’ nickel.
| 1936 nickel Details | |
| Compound | Copper-nickel coin |
| Coin diameter | 0.835 inches (21.2 mm) |
| Edge | Plain |
| Coin thickness | 0.077 inches (1.95 mm) |
| Shape | Round |
| Coin weight | 0.176 ounces (5 g) |
| Face value | $0.05 (five-cent coin) |
The Buffalo Nickel—the Indian Head Nickel—was struck from 1913 until 1938. The first coins were issued at the National American Indian Memorial’s groundbreaking ceremony on February 22, 1913. They were produced in the US Mint’s Philadelphia, Denver, and San Francisco facilities.
The coin experienced numerous compositional and design adjustments during its minting. Its existence ended in 1938 when it was replaced by the Jefferson Nickel, which had an entirely different composition and design.
New animals and buffalo were added to the 50 State Quarters Program in 1999.
| Year | Mintage | Good | Fine | Extra Fine | Uncirculated |
|---|---|---|---|---|---|
| 1913 Type 1 | 30,993,520 | $3.50 - $4.00 | $7.00 - $8.00 | $13.00 - $15.00 | $24.00 and up |
| 1913-D Type 1 | 5,337,000 | $9.00 - $10.00 | $14.00 - $16.00 | $22.00 - $24.00 | $45.00 and up |
| 1913-S Type 1 | 2,105,000 | $28.00 - $30.00 | $35.00 - $38.00 | $45.00 - $50.00 | $95.00 and up |
| 1913 Type 2 | 29,858,700 | $5.00 - $6.00 | $7.00 - $8.00 | $13.00 - $15.00 | $25.00 and up |
| 1913-D Type 2 | 4,156,000 | $65.00 - $75.00 | $110.00 - $120.00 | $130.00 - $140.00 | $210.00 and up |
| 1913-S Type 2 | 1,209,000 | $200.00 - $225.00 | $275.00 - $300.00 | $325.00 - $350.00 | $575.00 and up |
| 1914 | 20,665,738 | $10.00 - $12.00 | $15.00 - $17.00 | $18.00 - $20.00 | $35.00 and up |
| 1914-D | 3,912,000 | $60.00 - $70.00 | $95.00 - $105.00 | $165.00 - $175.00 | $325.00 and up |
| 1914-S | 3,470,000 | $16.00 - $18.00 | $29.00 - $31.00 | $55.00 - $60.00 | $160.00 and up |
| 1915 | 20,987,270 | $3.50 - $4.00 | $4.00 - $5.00 | $16.00 - $18.00 | $35.00 and up |
| 1915-D | 7,569,500 | $12.00 - $14.00 | $27.00 - $29.00 | $75.00 - $80.00 | $185.00 and up |
| 1915-S | 1,505,000 | $30.00 - $35.00 | $60.00 - $65.00 | $185.00 - $200.00 | $425.00 and up |
| 1916 | 63,498,066 | $2.00 - $2.50 | $4.00 - $5.00 | $10.00 - $11.00 | $30.00 and up |
| 1916-D | 13,333,000 | $8.00 - $9.00 | $17.00 - $18.00 | $50.00 - $55.00 | $115.00 and up |
| 1916-S | 11,860,000 | $6.00 - $7.00 | $10.00 - $11.00 | $45.00 - $50.00 | $130.00 and up |
| 1917 | 51,424,029 | $2.00 - $2.50 | $4.00 - $5.00 | $11.00 - $12.00 | $40.00 and up |
| 1917-D | 9,910,800 | $11.00 - $13.00 | $33.00 - $35.00 | $100.00 - $110.00 | $300.00 and up |
| 1917-S | 4,193,000 | $15.00 - $17.00 | $45.00 - $48.00 | $135.00 - $145.00 | $315.00 and up |
| 1918 | 32,086,314 | $2.50 - $3.00 | $4.00 - $5.00 | $18.00 - $20.00 | $75.00 and up |
| 1918-D | 8,362,314 | $12.00 - $14.00 | $40.00 - $43.00 | $135.00 - $145.00 | $315.00 and up |
| 1918-S | 4,882,000 | $8.00 - $9.00 | $33.00 - $35.00 | $100.00 - $110.00 | $450.00 and up |
| 1919 | 60,868,000 | $1.50 - $2.00 | $2.50 - $3.00 | $12.00 - $13.00 | $40.00 and up |
| 1919-D | 8,006,000 | $8.00 - $9.00 | $45.00 - $48.00 | $155.00 - $165.00 | $475.00 and up |
| 1919-S | 7,521,000 | $5.00 - $6.00 | $31.00 - $33.00 | $145.00 - $155.00 | $400.00 and up |
| 1920 | 63,093,000 | $1.50 - $2.00 | $2.50 - $3.00 | $11.00 - $12.00 | $40.00 and up |
| 1920-D | 9,418,000 | $5.00 - $6.00 | $22.00 - $24.00 | $165.00 - $175.00 | $450.00 and up |
| 1920-S | 9,689,000 | $2.00 - $2.50 | $20.00 - $22.00 | $125.00 - $135.00 | $375.00 and up |
| 1921 | 10,663,000 | $2.00 - $2.50 | $4.00 - $5.00 | $30.00 - $32.00 | $85.00 and up |
| 1921-S | 1,557,000 | $40.00 - $45.00 | $120.00 - $130.00 | $600.00 - $650.00 | $1150.00 and up |
| 1923 | 35,715,000 | $1.50 - $2.00 | $2.50 - $3.00 | $10.00 - $11.00 | $40.00 and up |
| 1923-S | 6,142,000 | $3.50 - $4.00 | $17.00 - $18.00 | $165.00 - $175.00 | $425.00 and up |
| 1924 | 21,620,000 | $1.50 - $2.00 | $2.50 - $3.00 | $13.00 - $15.00 | $50.00 and up |
| 1924-D | 5,258,000 | $3.50 - $4.00 | $27.00 - $29.00 | $135.00 - $145.00 | $325.00 and up |
| 1924-S | 1,437,000 | $10.00 - $12.00 | $65.00 - $70.00 | $650.00 - $700.00 | $1500.00 and up |
| 1925 | 35,565,100 | $1.50 - $2.00 | $2.50 - $3.00 | $12.00 - $13.00 | $30.00 and up |
| 1925-D | 4,450,000 | $5.00 - $6.00 | $27.00 - $29.00 | $110.00 - $120.00 | $260.00 and up |
| 1925-S | 6,256,000 | $2.50 - $3.00 | $9.00 - $10.00 | $100.00 - $110.00 | $350.00 and up |
| 1926 | 44,693,000 | $1.50 - $2.00 | $1.50 - $2.00 | $10.00 - $11.00 | $22.00 and up |
| 1926-D | 5,638,000 | $6.00 - $7.00 | $18.00 - $19.00 | $100.00 - $110.00 | $225.00 and up |
| 1926-S | 970,000 | $12.00 - $14.00 | $55.00 - $60.00 | $550.00 - $600.00 | $3600.00 and up |
| 1927 | 37,981,000 | $1.50 - $2.00 | $1.50 - $2.00 | $10.00 - $11.00 | $24.00 and up |
| 1927-D | 5,730,000 | $1.00 - $1.25 | $2.50 - $3.00 | $50.00 - $55.00 | $130.00 and up |
| 1927-S | 3,430,000 | $1.00 - $1.25 | $2.50 - $3.00 | $55.00 - $60.00 | $425.00 and up |
| 1928 | 23,411,000 | $0.50 - $1.00 | $1.25 - $1.50 | $9.00 - $10.00 | $23.00 and up |
| 1928-D | 6,436,000 | $0.75 - $1.25 | $2.50 - $3.00 | $26.00 - $28.00 | $40.00 and up |
| 1928-S | 6,936,000 | $0.75 - $1.25 | $1.50 - $2.00 | $18.00 - $20.00 | $170.00 and up |
| 1929 | 36,446,000 | $0.50 - $1.00 | $1.00 - $1.25 | $9.00 - $10.00 | $28.00 and up |
| 1929-D | 8,370,000 | $0.50 - $1.00 | $1.25 - $1.50 | $20.00 - $22.00 | $45.00 and up |
| 1929-S | 7,754,000 | $0.50 - $1.00 | $1.00 - $1.25 | $9.00 - $10.00 | $35.00 and up |
| 1930 | 22,849,000 | $0.50 - $1.00 | $1.00 - $1.25 | $8.00 - $9.00 | $24.00 and up |
| 1930-S | 5,435,000 | $0.50 - $1.00 | $1.00 - $1.25 | $9.00 - $10.00 | $40.00 and up |
| 1931-S | 1,200,000 | $9.00 - $10.00 | $10.00 - $11.00 | $18.00 - $20.00 | $48.00 and up |
| 1934 | 20,213,003 | $0.50 - $1.00 | $1.00 - $1.25 | $5.00 - $6.00 | $30.00 and up |
| 1934-D | 7,480,000 | $0.50 - $1.00 | $1.50 - $2.00 | $13.00 - $15.00 | $55.00 and up |
| 1935 | 58,264,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $15.00 and up |
| 1935-D | 12,092,000 | $0.50 - $1.00 | $1.00 - $1.25 | $10.00 - $11.00 | $45.00 and up |
| 1935-S | 10,300,000 | $0.50 - $1.00 | $1.00 - $1.25 | $2.00 - $2.50 | $28.00 and up |
| 1936 | 119,001,420 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1936-D | 24,814,000 | $0.25 - $0.50 | $0.75 - $1.00 | $2.00 - $2.50 | $24.00 and up |
| 1936-S | 14,930,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $24.00 and up |
| 1937 | 79,485,769 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1937-D | 17,826,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1937-S | 5,635,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1938-D | 7,020,000 | $0.75 - $1.25 | $1.25 - $1.50 | $3.00 - $3.50 | $12.00 and up |
The mint mark is directly beneath the denomination “FIVE CENTS” on the coin’s reverse. The US Mint produced them in three facilities: Denver (D), San Francisco (S), and Philadelphia (no mint mark).
Mint marks are essential identifiers for Buffalo Nickels, as they are the primary determinants in valuing the coins along with the mint marks on the design and the minting error, if applicable.
Worth of a coin is directly related to the coin's condition. Coins in mint condition have a higher value than their face value. Buffalo Nickels in mint state condition tend to fetch much higher prices than circulated pieces, as they retain their original luster and lack wear. Specific grades such as MS 67 and MS 68 are particularly sought after by collectors.
We have curated a specified list of conditions essential to be known by an investor:
Good: The general design of the coin is outlined, but some parts are weak. Although non-collectors often describe their coins as “Good” condition, these are still heavily worn.
Fine: All seven letters of LIBERTY should be visible with minor wear and tear on the coin.
Extremely Fine: There might be some remnants of mint luster, but the coin has light wear overall.
Uncirculated: Coins have clear and identifiable mintmarks and dates. However, uncirculated coins can be worn if poorly struck and are left in the US Mint for over a century.
Just 2,105,000 of the San Francisco Mint’s Type I coins were produced. Many are well-worn, and the denomination is unreadable due to the design. Out of the three Type I coins, it is the rarest.
However, 1913 TYPE 1 Nickels in pristine condition sell for as much as $27,500 on the open market. The 1913-S Buffalo Nickel is considered one of the most valuable Buffalo Nickels due to its rarity and condition.
The 1913-D Type II is a coin with a semi-key date. Professional coin graders services, which BOLD is officially associated with, like NGC and PCGS are the difference makers in evaluating the value of rare coins, ensuring a reliable assessment before selling at auctions.
Seven Buffalo Nickel varieties are valued at $5,000 or higher in certain conditions.
Compared to the 1913-D Type 1, fewer Type II were reserved by collectors and speculators. This type II nickel coin is worth around $35,000, if observed to be in mint state condition also termed as uncirculated.
With a mintage of just 1,209,000, the 1913 S Type 2 is a rare coin. The San Francisco Mint played a significant role in producing these proof coins, known for their mirror-like surfaces and sharp details. James Earle Fraser created both of its designs, and it was struck in San Francisco.
The bottom of the reverse of the Type II has been redesigned, and the buffalo, originally standing on raised ground, is now on a line or plane. This rare coin in uncirculated condition can sell for $40,000 on the open market.
As of March 2024, a 1914-D in circulation is valued between $45 and $425, while an uncirculated one can fetch as much as $27,500. Selling these coins is particularly significant for intermediate and advanced collectors who actively engage in transactions to maintain or enhance their collections. The grade of the coin is determined by its kind and condition.
The Double die error is an error occurrence that can be on either side of the coin, which are termed as the Double die reverse (DDR) or the Double Die Obverse (DDO) . The strongly doubled overdate is visible without the need for magnification, particularly on higher-grade coins.
Even heavily used error coins fetch several thousand dollars, and coins in mint condition fetch more than $60,000.
1918/7-D is one of the rarest in the series, except for a few more recently found varieties. The term 'half legs' refers to a specific error in the 1936 D Buffalo Nickel, where the bison's front leg is weak or missing. Two hubs from 1917 and 1918 were impressed onto a single working die to create it. The coin features a crisp strike and a light golden-gray patina.
The 1918-D is among the rarest coins in the series, except for a few more recent variations. The 1918-D 8 over 7 type has a potential market value of $37,000 to $350,750. It weighs 5 grams, has a diameter of 21.2 mm, and is composed of 75% copper and 25% nickel.
Other errors, such as die cracks or misstrikes, can also affect the value of the 1918-D Buffalo Nickel, making it one of the most valuable buffalo nickels.
Last but not the least, the Buffalo Nickel symbolizes the multicultural aspect of American society and the growth of American currency.
A short synopsis:
The Buffalo Nickel was struck from 1913 to 1938, before being replaced by the Jefferson Nickel. It featured the Native American Indian Head design by sculptor James Earle Fraser. These nickels are a rare find and collectors drool over them in the current market. These valuable nickels based on the condition, mintmark, and error, can fetch prices from $10 to $20,000 (and maybe higher).
If you want to add this historical legacy to your collection and portfolio, BOLD, a trusted coin dealer, offers a wide range of silver buffalo rounds in various sizes and gold buffalo coins at the lowest prices.
Expand your collection and investing portfolio while honoring American heritage with BOLD today!
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