When it comes to iconic American coins, the Buffalo nickel holds a special place in the hearts of collectors and history enthusiasts alike. Minted from 1913 to 1938, this coin features stunning artwork that honors Native American heritage and the American West. But beyond its beauty and history, some Buffalo nickels have become incredibly valuable—one rare example selling for a jaw-dropping $601,000. Could you be unknowingly carrying a fortune in your pocket?
What Is the Buffalo Nickel?
The Buffalo nickel, also called the Indian Head nickel, was designed by sculptor James Earle Fraser. On the obverse (front) side is a detailed portrait of a Native American chief, crafted by combining features of several tribes. The reverse side features a majestic American bison, symbolizing the nation’s rugged frontier spirit.
This coin replaced the Liberty Head nickel and was minted for 25 years, becoming one of the most beloved designs in U.S. coinage history.
Why Are Some Buffalo Nickels So Valuable?
Most Buffalo nickels today are worth only a few dollars, but a handful are extraordinarily rare and command high prices for several reasons:
1. Rarity of Certain Dates and Mint Marks
Some years and mint locations produced very few Buffalo nickels, making them extremely scarce today. For example:
- 1913-S Type 2 Buffalo nickel: Known for subtle design differences and a small mintage.
- 1918/7-D Overdate: An overdate error where the “7” is visible beneath the “8.”
- 1937-D Three-Legged Buffalo: A famous error coin where the buffalo’s front right leg is missing due to a die break.
2. Condition and Grading
Coins preserved in “Mint State” condition (uncirculated) are much more valuable than worn examples. The $601,000 Buffalo nickel was an exceptionally well-preserved specimen with sharp details and no damage.
3. Mint Errors
Errors like doubled dies, repunched mint marks, or misstrikes increase the value dramatically.
The $601,000 Buffalo Nickel — What Makes It So Special?
The Buffalo nickel that sold for $601,000 is a rare 1913-S Type 2 in pristine condition. Only a few examples of this coin survive in such flawless state. Its combination of rarity, condition, and demand among collectors led to its record-breaking auction price.
Highlights of This Coin:
- Date & Mint: 1913, San Francisco Mint (S mint mark)
- Type: Type 2 (second design modification in 1913)
- Condition: Gem Mint State with sharp detail and original luster
- Auction Result: Sold privately or at auction for over half a million dollars
How to Spot a Valuable Buffalo Nickel in Your Collection
If you own a Buffalo nickel or find one in your change, here are a few tips to identify potentially valuable specimens:
Check the Date and Mint Mark
Look on the reverse side near the words “FIVE CENTS” for a small “D” or “S,” indicating Denver or San Francisco mints. Some mint marks are rarer than others.
Identify the Type
1913 Buffalo nickels come in two designs:
- Type 1: Bison stands on a raised mound.
- Type 2: Bison stands on a flat plain with “FIVE CENTS” in a recessed area.
Type 2 nickels from 1913-S are particularly rare.
Inspect for Errors
Look for doubled dies, overdates, or missing features like the “three-legged” buffalo.
Examine Condition
Sharp details, clear lettering, and minimal wear greatly enhance value.
Consult a Professional Grader
If you believe you have a rare Buffalo nickel, get it professionally graded and authenticated by services like PCGS or NGC.
Where Are These Coins Now?
Many rare Buffalo nickels reside in private collections or museums, but occasionally, one will appear at auctions or even unexpectedly in circulation. While it’s rare, there are documented cases of valuable nickels found in pocket change.
Should You Search for Buffalo Nickels?
Absolutely! Buffalo nickels are beautiful, historic, and some are incredibly valuable. Even common Buffalo nickels make great collector’s items. Hunting for rare dates, mint marks, and errors can be thrilling — and potentially lucrative.
Conclusion
The Buffalo nickel isn’t just a piece of history; it’s a potential treasure. With some specimens worth over $600,000, owning one could mean holding a significant investment. Whether you’re a seasoned collector or just curious, keep an eye out for those small nickels — you might just find a fortune hiding in plain sight.