Introduction
Ever heard of the Mint Nickel-Rare Buffalo? If you’re into coin collecting, you’ve probably come across this fascinating piece of history. But what makes it so special? Why are collectors willing to pay top dollar for these rare Buffalo nickels? In this deep dive, we’ll uncover the history, rarity, value, and everything you need to know about these prized coins.
The Origin of the Buffalo Nickel
A Glimpse Into the Past
The Buffalo nickel, also known as the Indian Head nickel, was first minted in 1913 and remained in circulation until 1938. Designed by James Earle Fraser, the coin was intended to celebrate American heritage, featuring an iconic American bison on one side and a Native American chief on the other.
Why Was It Introduced?
Before the Buffalo nickel, the Liberty Head nickel had been in circulation since 1883. The U.S. government decided it was time for a change, something that would reflect the nation’s unique identity. Thus, Fraser’s design was chosen to represent the Old West and its deep-rooted history.
What Makes the Buffalo Nickel Rare?
The Elusive “Mint Nickel”
Not all Buffalo nickels are rare, but some mintages and errors make certain ones extremely valuable. The term “Mint Nickel-Rare Buffalo” typically refers to coins with low mintage numbers, unique mint errors, or specific key dates.
Key Factors in Rarity
- Mintage Year – Some years had fewer coins produced, making them more valuable today.
- Mint Mark – Coins from certain mints (like San Francisco or Denver) are harder to find.
- Condition & Grading – The better the condition, the higher the value.
- Minting Errors – Coins with double dies, misprints, or other anomalies fetch big bucks.
The Most Valuable Buffalo Nickels
1913-S Type 2 Buffalo Nickel
- Minted in San Francisco.
- Features a bison standing on a mound.
- Only 1.2 million produced.
- Can fetch up to $100,000+ in pristine condition!
1916 Double Die Obverse
- A classic error coin.
- The date is doubled due to a minting mistake.
- Extremely rare and highly sought after.
1937-D Three-Legged Buffalo
- The most famous minting error.
- Due to over-polishing, the bison appears to have only three legs!
- Can sell for $5,000 to $20,000 depending on condition.
1926-S Buffalo Nickel
- The rarest regular issue Buffalo nickel.
- Only 970,000 minted.
- High-grade versions are valued at over $50,000.
Understanding Mint Marks on Buffalo Nickels
What Are Mint Marks?
Mint marks tell us where a coin was made. The Buffalo nickel was minted in three locations:
- Philadelphia (no mint mark)
- Denver (D)
- San Francisco (S)
Mint marks are located below the “FIVE CENTS” on the reverse side of the coin.
Why Do Mint Marks Matter?
Some mints produced fewer Buffalo nickels than others. Generally, San Francisco and Denver-minted coins are rarer, making them more valuable to collectors.
How to Determine the Value of a Buffalo Nickel
Coin Grading Scale
Collectors use a grading system to determine a coin’s condition and value:
- Poor (P-1) – Nearly unrecognizable.
- Fair (FR-2) – Barely identifiable features.
- Good (G-4) – Worn but readable.
- Fine (F-12) – Details are visible.
- Very Fine (VF-20) – Moderate wear but sharp details.
- Extremely Fine (EF-40) – Minor wear with clear details.
- About Uncirculated (AU-50) – Almost perfect, with tiny marks.
- Mint State (MS-60 to MS-70) – Flawless and highly valuable.
Where to Get Your Coin Graded?
Professional services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) provide certified grading, which can significantly boost a coin’s value.
Where to Buy or Sell Buffalo Nickels
Best Places to Buy
- Coin Shops – Local dealers often have rare finds.
- Online Auctions – Sites like eBay and Heritage Auctions have extensive listings.
- Coin Shows – Meet collectors and experts in person.
- Numismatic Websites – Trusted platforms like NGC and PCGS.
Best Places to Sell
- Auction Houses – Great for high-value pieces.
- Online Marketplaces – eBay and Facebook Marketplace can connect you with collectors.
- Coin Dealers – Local dealers might offer quick sales but at lower prices.
How to Spot a Fake Buffalo Nickel
Common Red Flags
- Unusual Weight – Authentic Buffalo nickels weigh 5 grams.
- Incorrect Font or Details – Fake coins often have blurry inscriptions.
- Shiny Surface – Old coins should show some natural wear.
- Magnet Test – Buffalo nickels are made of 75% copper, 25% nickel, and shouldn’t be magnetic.
Getting It Authenticated
If you suspect a counterfeit, send it to a professional grading service for verification.
Conclusion
The Mint Nickel-Rare Buffalo is a true gem in the world of coin collecting. Whether you’re a seasoned numismatist or a beginner, these nickels offer an exciting journey into America’s rich history. With their rarity, unique minting errors, and high value, they are a prized addition to any collection. So, got a Buffalo nickel lying around? It might just be worth a fortune!
FAQs
1. How much is a Buffalo nickel worth today?
It depends on the year, mint mark, and condition. Common Buffalo nickels can be worth $1-$10, while rare ones can fetch thousands of dollars.
2. What is the rarest Buffalo nickel?
The 1913-S Type 2 Buffalo nickel and the 1937-D Three-Legged Buffalo are among the rarest and most valuable.
3. How do I clean a Buffalo nickel?
Never clean a coin! Cleaning can damage its surface and reduce its value. Instead, store it in a protective case.
4. Are Buffalo nickels still in circulation?
No, they were last minted in 1938 and have been replaced by the Jefferson nickel.
5. Can I sell a Buffalo nickel to a bank?
Banks only accept modern coins at face value. To sell a Buffalo nickel for its true worth, use coin dealers, auctions, or online marketplaces.