The Buffalo Nickel or Indian Head Nickel is a treasure of American numismatic history. Struck from 1913 to 1938, the five-cent piece bears a distinctive design honoring Native American heritage and the American bison. Current market trends have shown that some Buffalo Nickels fetch high amounts when auctioned, with others going as high as $7,522. This article discusses the special features that contribute to the value of these coins and also points out some examples of interest to collectors.
A brief history of the Buffalo Nickel
Named after sculptor James Earle Fraser, the Buffalo Nickel made its first appearance in 1913 in a bid to make US currency more attractive. The reverse has a dignified buffalo and the obverse a realistic portrait of a Native American. The coin was initially minted in three cities: Philadelphia, Denver, and San Francisco.
The Buffalo Nickel was minted for 25 years and has become legendary because of its artistic beauty and cultural importance. Sadly, it’s fine details made it susceptible to wear, and this resulted in difficulties in maintaining its look over the years. Consequently, most coins in this series are usually found in suboptimal condition, which greatly affects their market value.
Factors affecting value
A number of factors affect the value of a Buffalo Nickel:
- Condition: State of preservation is the most important factor. Worn coins are worth less than uncirculated coins. Buyers sort coins into grades like Good, Fine, Extremely Fine, and Uncirculated.
- Mint mark: The mint mark tells us where the coin was made—Philadelphia (no mark), Denver (D), or San Francisco (S). Some mint marks are scarcer than others and can make a big difference in price.
- Rarity: More desirable dates and mints are more desirable because they have a limited mintage or special feature. More significant dates such as the 1937-D “Three-Legged” Nickel or the 1918/7-D Overdate are extremely popular among collectors.
- Market demand: Total demand for Buffalo Nickels is trending up and down with the collector interest and market forces. Those coins that are in high demand can be auctioned for a lot of money.
Some notable examples of valuable Buffalo Nickels
Of all the various types of Buffalo Nickels, some are older and rarer than others:
- 1913-S Type 2: This one is not common in that it has a low mintage of only 2,105,000 coins. It can be worth over $40,000 when uncirculated because of its rarity.
- 1918/7-D Overdate: This type is among the most desirable of all with collectors. The overdate design element is what gives it its incredible value; mint-state pieces have sold for more than $511,000 at auction.
- 1937-D “Three-Legged” Nickel: This error coin is renowned for its missing leg on the buffalo side. With a mintage of just 1,200,000 coins and strong collector demand, it can retail at prices ranging from $3,000 to $50,000 based on condition.
- 1938-D: Being one of the final years of production of the Buffalo Nickel series, this coin has become extremely popular. High-grade specimens can retail for prices of around $12,925.
Current market trends
To date, in February 2025, investors and collectors continue to have high demand for Buffalo Nickels. According to the Trustpilot survey, though consumers are increasingly saving towards objectives instead of buying gifts—i.e., house saving—investors continue to purchase rare coins as a way of maintaining wealth.
Recent sales suggest that even the low-grade flaw-coins can fetch good prices if they have some special characteristics or historical importance. For instance, a decent Buffalo Nickel can very easily fetch auction prices of around $7,522 or more depending upon the market demand and collector interest.
Investing in Buffalo Nickels
The Buffalo Nickel is not only more than currency; it is a wonderful piece of American heritage and history. To the investor and collector who wishes to diversify an asset portfolio or merely admire numismatic beauty, this coin provides investment value as well as aesthetics.
Knowing what drives some Buffalo Nickels to be valuable—like rarity, condition, and history—can assist collectors in making informed purchases when buying these iconic coins. With interest in numismatics only increasing, the time may be right to examine this intriguing branch of American heritage while monitoring market trends that could affect future prices. Whether an experienced collector or a newcomer to numismatics, investing in Buffalo Nickels can be a rewarding and learning experience.
