The Buffalo Nickel, officially called the Indian Head Nickel, is one of the most beloved and artistically celebrated coins in U.S. history. Minted between 1913 and 1938, this coin features a proud Native American profile on the obverse and a majestic American bison on the reverse — a design that has stood the test of time and remains a favorite among collectors.
But some Buffalo Nickels are more than just historical pieces — they are worth thousands of dollars, especially rare dates, errors, and high-grade examples.
History and Design of the Buffalo Nickel
The Buffalo Nickel was designed by James Earle Fraser, a student of Augustus Saint-Gaudens. His goal was to create a coin that truly represented the American spirit. The obverse features a composite portrait of three Native American chiefs, while the reverse showcases a bison believed to be modeled after Black Diamond, a resident of the Central Park Zoo.
The coin was minted by the U.S. Mint from 1913 to 1938 at Philadelphia, Denver, and San Francisco mints. Though beautiful, the design wore down quickly in circulation, making well-preserved examples rare and valuable.
Most Valuable Buffalo Nickels to Look For
Some Buffalo Nickels stand out due to low mintage, minting errors, or iconic status. Here are the most notable examples:
1. 1913-S Type 2
This first-year issue had two types:
- Type 1: Raised mound under the buffalo
- Type 2: Flattened ground line for durability
The 1913-S Type 2 had a mintage of just 1.2 million coins. In uncirculated condition, it can sell for $5,000–$15,000.
2. 1916 Doubled Die Obverse
This ultra-rare variety shows clear doubling on the date and Liberty’s profile. Very few exist, and certified specimens can fetch over $80,000 at auction.
3. 1918/7-D Overdate
This Denver-minted error coin was created when a 1918 die was struck over a 1917 die, leaving visible traces of both dates. This variety in XF condition sells for $15,000–$30,000, and uncirculated examples exceed $100,000.
4. 1937-D 3-Legged Buffalo
Perhaps the most famous error in the Buffalo Nickel series, this coin was caused by overpolishing the die — removing the front leg of the buffalo. Collectors prize this coin, and even circulated pieces bring $1,500–$3,000, while mint state coins exceed $10,000.
5. 1926-S
This coin had the lowest mintage of all Buffalo Nickels — just 970,000 coins. High-grade examples in MS65+ condition sell for $40,000–$75,000 due to rarity and condition scarcity.
Buffalo Nickel Value Guide
Here’s a breakdown of top rarities and their estimated values:
| Coin Type | Grade | Estimated Value |
|---|---|---|
| 1913-S Type 2 | MS65 | $10,000+ |
| 1916 Doubled Die | AU50 | $60,000 – $80,000 |
| 1918/7-D Overdate | XF45 | $25,000 – $35,000 |
| 1937-D 3-Legged | MS63 | $10,000 – $15,000 |
| 1926-S | MS65 | $50,000+ |
How to Identify Rare Buffalo Nickels
- Check the date and mintmark: Found on the obverse below the “LIBERTY” inscription and to the left of the neck.
- Use a loupe or magnifying glass to inspect for doubling, overdates, or polishing errors.
- Weight and diameter should be consistent: 5g and 21.2mm.
- High points like the cheekbone and buffalo’s shoulder are key grading indicators.
- Consider grading by PCGS or NGC for authentication and valuation.
Why Collectors Love Buffalo Nickels
Buffalo Nickels offer everything collectors value:
- Artistic beauty and historical significance
- Challenging key dates and rare errors
- Affordability in lower grades
- Deep cultural symbolism of the American frontier
- A series that bridges the classic and modern eras
Whether you’re a new hobbyist or a seasoned numismatist, the Buffalo Nickel series delivers excitement and long-term investment potential.
Conclusion
The Buffalo Nickel is more than just a coin — it’s a symbol of America’s identity and craftsmanship. While many circulated examples are easy to find, rare dates, mint errors, and well-preserved coins can be worth thousands of dollars. If you have a few nickels lying around or inherited a collection, it’s worth checking. That three-legged buffalo or doubled die might just change your fortune.
FAQs
What makes a Buffalo Nickel rare?
Low mintage, visible errors like 3-legged buffalo or doubled dies, and coins in high mint state grades are the most valuable.
Are Buffalo Nickels made of silver?
No. Buffalo Nickels are composed of 75% copper and 25% nickel — no silver content.
How can I sell a rare Buffalo Nickel?
Get it authenticated and graded by PCGS or NGC, then consider auctioning through Heritage Auctions, Stack’s Bowers, or eBay for high visibility.