Buffalo Nickel Identification Guide: Key Dates, Mint Marks, and Values

History and Design: James Earle Fraser's Vision

The Buffalo Nickel's origin begins with a moment of artistic dissatisfaction. By the early twentieth century, many American numismatists and civic leaders felt that the Liberty Head Nickel — in circulation since 1883 — was uninspired and unworthy of the growing nation's ambitions. President Theodore Roosevelt's campaign to beautify American coinage had already produced the magnificent Saint-Gaudens double eagle and the Indian Head eagle; it was time for the workaday five-cent piece to receive similar attention.

Sculptor James Earle Fraser was commissioned in 1911 to create the new design. Fraser was an ideal choice: raised in the Dakota Territory, he had grown up near Native American communities and had spent years studying their faces, dress, and traditions. His childhood experiences gave him an intimate and respectful understanding of his subjects. Fraser was also an accomplished sculptor who had studied under Augustus Saint-Gaudens — the same master behind the iconic double eagle — and his technical skills were beyond question.

Fraser's design philosophy was straightforward: he wanted to create an image that was unmistakably, quintessentially American. He chose subjects that could not be mistaken for European allegory or classical mythology. A Native American chief and a bison — the dominant megafauna of the Great Plains before the near-extinction of the species in the late nineteenth century — would announce to the world that this coin belonged to the United States of America.

The Models Behind the Design

The obverse portrait is often described as a composite, though Fraser was somewhat coy about the specifics over the years. He confirmed that at least three Native American chiefs posed for him: Iron Tail of the Oglala Lakota, Two Moons of the Cheyenne, and John Big Tree of the Seneca. Each contributed facial features and character to the final portrait, which explains why the image has a timeless, archetypal quality rather than a strict photographic likeness of any individual.

The reverse bison also had a real-life model. Black Diamond was a large American bison who lived at the Central Park Zoo in New York City. Fraser made multiple sketches and studies of Black Diamond before settling on the powerful profile that appears on the coin. The animal appears at the crest of a mound (later changed to flat ground — more on that below), and the combination of the massive shoulders, the shaggy head, and the sense of weight and solidity gives the reverse an immediacy and power that coin designs rarely achieve.

The new design was approved in 1912 and went into production in early 1913. It was immediately praised by critics and collectors, and that enthusiasm has never really faded. The Buffalo Nickel is consistently ranked among the top five most beautiful American coins ever struck.

Design Details: Obverse and Reverse

Understanding every element of a Buffalo Nickel's design helps you grade it accurately, identify die varieties, and spot altered or counterfeit specimens. Let's examine each side in detail.

Obverse (Heads Side)

The obverse features a bold left-facing profile of a Native American chief. The portrait is large and commanding, filling most of the available design space. The chief wears a feathered headdress (war bonnet) that flows behind and below the portrait. The legend LIBERTY appears at the upper right, in relatively small letters. The date is at the bottom of the coin, positioned on the shoulder-line of the portrait — a placement that would prove problematic for date legibility, as we'll discuss in the grading section.

The obverse has no mint mark; mint marks were placed on the reverse. The designer's initial F (for Fraser) appears on the truncation of the portrait — just below where the neck meets the rim. On well-struck, high-grade specimens, this tiny F is crisp and clear. On worn examples it may be barely visible or completely gone.

Reverse (Tails Side)

The reverse features the bison standing in left profile. The legend UNITED STATES OF AMERICA curves along the top, and E PLURIBUS UNUM appears in smaller letters just below it, to the right. The denomination FIVE CENTS appears at the bottom, and the mint mark (when present) appears just below the denomination.

The bison itself is rendered with extraordinary detail: the massive front shoulder and hump, the curved spine, the shaggy beard, and the powerful rear legs. The tail hangs at rest. On high-grade specimens, the individual hairs in the mane, the texture of the hide, and the subtle musculature of the haunches are all visible. These fine details are among the first elements to wear away on circulated coins, making them critical grading checkpoints.

The ground line beneath the bison changed during 1913, giving rise to the two major Type varieties discussed in the next section.

Type 1 vs. Type 2 Varieties (1913)

Among all Buffalo Nickel varieties, the most fundamental distinction is between Type 1 and Type 2, both of which were produced only in 1913. If you own a 1913 Buffalo Nickel, identifying which type it is can mean a significant difference in value.

Type 1: Raised Mound (February–June 1913)

On Type 1 coins, the bison stands on a raised mound or hill. The denomination FIVE CENTS is inscribed on the mound itself, appearing in relatively large letters within the raised design. This arrangement was aesthetically pleasing but created a practical problem: the raised letters were among the highest points on the coin, meaning they wore away quickly with circulation. A heavily circulated Type 1 can be virtually unreadable on the denomination area.

Type 1 coins were struck at all three mints: Philadelphia (no mint mark), Denver (D), and San Francisco (S). All three are collectible, with the 1913-S Type 1 being the most desirable of the three.

Type 2: Flat Ground (Late 1913 Onward)

The Mint recognized the wear problem with Type 1 and modified the design by mid-1913. On Type 2 coins, the raised mound was eliminated and replaced by a flat, recessed area. The denomination FIVE CENTS was moved below the bison, now appearing in a recessed exergue (the area below the main design field). This protected the lettering from wear far more effectively, and Type 2 became the standard design used for the remainder of the series through 1938.

The 1913-S Type 2 is one of the series' key dates (discussed in full in the next section). For all subsequent years, only the Type 2 design was used, so there is no "Type 1 vs. Type 2" question for any date after 1913.

Identifying Type 1 vs. Type 2 at a Glance

The quickest way to tell them apart is to look at the ground beneath the bison:

• Type 1: Bison stands on a raised oval mound; "FIVE CENTS" appears on the mound
• Type 2: Ground beneath bison is flat or slightly concave; "FIVE CENTS" appears below in the recessed exergue

Even on heavily worn specimens, this distinction is usually visible. The profile of the ground beneath the bison's hooves is the key indicator.

Key Dates and Major Rarities

The Buffalo Nickel series spans 25 years and dozens of date-and-mint-mark combinations. Most dates are affordable in circulated grades, but a handful of genuine rarities can stop experienced collectors in their tracks. Knowing these key dates is essential — and the same careful approach to spotting important dates applies whether you're looking at nickels, Indian Head Pennies, or large silver dollars.

1913-S Type 2

The 1913-S Type 2 is the first major key date in the series. San Francisco produced only 1,209,000 Type 2 Buffalo Nickels in 1913 before switching dies — a very low mintage for the period. In circulated grades, examples sell for hundreds of dollars; in Mint State they can approach or exceed four figures. The coin is collectible but not unobtainable, making it a realistic (if expensive) goal for dedicated collectors.

When evaluating a 1913-S Type 2, confirm both the "S" mint mark below the denomination and the flat-ground Type 2 design. There are no known forgeries of this specific date-mint-type combination manufactured by adding a Type 2 reverse to a Philadelphia coin, but altered dates (from 1913-P Type 2) are known. Careful examination of the date digits for evidence of tooling is prudent.

1918/7-D Overdate

One of the most dramatic error coins in the entire Buffalo Nickel series, the 1918/7-D shows the underlying digit "7" clearly visible beneath the "8" in the date. This overdate occurred when a working die prepared with a 1917 hub was subsequently hubbed again with a 1918 hub. The earlier date was not fully obliterated, leaving a ghost image visible to the naked eye on well-struck specimens.

The overdate is most visible in the upper loop of the "8" in the date — look for the remnant of the "7" protruding upward. All known examples come from the Denver Mint, hence the "D" designation. Because the overdate is visually dramatic and the coin is genuinely scarce, it commands strong premiums. Expect to pay several hundred dollars for a clearly identified example in Fine grade, and multiples of that in higher circulated grades or Mint State.

1921-S

The 1921-S is the key date for the 1920s portion of the series. San Francisco struck only 1,557,000 Buffalo Nickels in 1921 — a mintage so low that finding a well-struck, clearly dated example in even Good condition requires some searching. The date on the 1921-S has a tendency to show weakness, compounding the difficulty of finding a fully readable example.

Values for the 1921-S are substantial at all grade levels. A Good-4 example runs several hundred dollars; Fine and Very Fine specimens command higher prices still. Mint State examples are genuinely rare and expensive. When evaluating a supposed 1921-S, examine the date carefully for signs of alteration — the digit "1" is not commonly altered from another date, but the "S" mint mark can be added to a lower-value Philadelphia coin.

1926-S

The 1926-S is another San Francisco rarity, with a mintage of just 970,000 — the lowest for a non-error Buffalo Nickel date (excluding special issues) other than the 1913-S Type 2. The coin is notoriously difficult to find with a full, bold date, as the dies at San Francisco during this period were often used well past their optimal sharpness. Many 1926-S coins show a weak or partially mushy date even in otherwise problem-free circulated grades.

Collectors specifically seek "bold date" examples of the 1926-S, which command meaningful premiums over typical specimens. In Fine grade, a good example can cost several hundred dollars; higher grades push into four figures. Mint State examples are extremely rare — PCGS and NGC population reports show only a handful of coins above MS-60.

Other Notable Key and Semi-Key Dates

Beyond the absolute key dates, several other dates deserve attention:

• 1916 Doubled Die Obverse: A dramatic doubling visible on LIBERTY and the date; one of the most valuable doubled-die varieties in all of American coinage
• 1917-S: Semi-key with a mintage just over 4 million; scarce in higher grades
• 1919-D and 1919-S: Both have relatively low mintages and are scarce in high grades
• 1924-S: Another low-mintage San Francisco issue that collectors find difficult in top condition
• 1925-D: Semi-key date; challenging in Mint State

The Famous 1937-D Three-Legged Buffalo

No discussion of Buffalo Nickels would be complete without dedicated attention to the most famous error in the series: the 1937-D Three-Legged Buffalo. This coin is one of the most recognized error coins in all of American numismatics, and its story is as compelling as its appearance.

How the Error Occurred

The explanation most widely accepted involves an over-zealous Mint employee at Denver in 1937. A working reverse die had become damaged or excessively worn, developing die clashes and possibly a crack or gouge. Rather than retire the die, a Mint worker used an abrasive wheel to polish away the problem area. In doing so, he removed not only the damage but also the bison's front right leg — leaving the animal with only three visible legs.

The polished area where the leg should be shows a smooth, undetailed surface that is visually distinct from both the field and the normal design elements. The missing leg is not subtle: even in heavily worn examples, the absence of the front right leg is immediately apparent to anyone who knows what to look for.

Identifying Genuine Specimens

Because the 1937-D Three-Legged Buffalo is valuable and famous, counterfeit versions and altered coins exist. Legitimate specimens have specific characteristics:

• The front right leg of the bison is absent, replaced by a smooth, polished field
• The area below the bison's belly where the leg meets the ground shows the same polished appearance
• The rear legs appear normal
• On genuine specimens, a remnant of the leg's pastern (the small area near the hoof) is sometimes faintly visible
• The coin has a "D" mint mark below "FIVE CENTS"
• The date reads 1937

The most common fraud involves grinding away the front leg of a normal 1937-D Buffalo Nickel. On a genuine Three-Legged specimen, the polished surface where the leg was is part of the original die surface — meaning the coin's rim, field luster, and overall surface characteristics are consistent across the entire coin. On a fraudulently altered coin, the ground-away area will show tool marks, scratches, or inconsistencies in surface texture. A loupe or microscope quickly reveals such alterations.

Purchasing a 1937-D Three-Legged Buffalo should always involve either a coin certified by PCGS or NGC, or a careful in-hand examination by an experienced numismatist. The price premium for this coin is substantial — even in Good-4 condition, genuine specimens sell for several hundred dollars. Well-circulated examples in Very Fine or Extremely Fine fetch one to three thousand dollars, and Mint State coins reach far higher.

Other Features of the 1937-D Three-Legged

Beyond the missing leg, genuine Three-Legged specimens often show other die characteristics: an irregular surface where the polishing occurred near the bison's belly, sometimes called a "floating ribbon" — a remnant of the die damage that preceded the polishing. These associated die markers are important secondary authentication points.

Mint Marks and Minting Locations

Buffalo Nickels were produced at three United States Mint facilities during the series' run. Understanding where each coin was made — and how to read the mint mark — is fundamental to proper identification and valuation. The same careful attention to mint mark location applies across many series; those familiar with Morgan Silver Dollar mint marks will find a similar approach works here.

Philadelphia Mint (No Mint Mark)

The Philadelphia Mint was the primary production facility for Buffalo Nickels throughout the series. Philadelphia coins bear no mint mark — this was the standard practice for US coinage of the era. Philadelphia generally struck the largest mintages and, as a result, most Philadelphia-mint Buffalo Nickels are not particularly rare in circulated grades. However, Philadelphia coins still appear as semi-keys in certain years (1913-P Type 2, for example) and can be quite scarce in Mint State for several dates.

Denver Mint (D)

The Denver Mint produced Buffalo Nickels throughout the series and is responsible for some of the most important varieties, including the famous Three-Legged error of 1937 and the 1918/7-D overdate. Denver coins bear a "D" mint mark located on the reverse, below the denomination "FIVE CENTS" and just above the rim.

Denver generally produced mid-range mintages — more than San Francisco but usually less than Philadelphia. Several Denver-mint dates are collectible semi-keys, and the Denver coins tend to be more challenging to find in high Mint State grades than their Philadelphia counterparts due to striking quality variations.

San Francisco Mint (S)

The San Francisco Mint produced some of the series' rarest coins, including the 1913-S Type 2 and the 1926-S. San Francisco coins bear an "S" mint mark in the same position as the Denver "D" — on the reverse below the denomination.

San Francisco had the smallest mintages for most years in the series, and its coins are disproportionately important among key and semi-key dates. The mint's striking quality during some periods was inconsistent, leading to issues with weak dates that complicate grading and valuation. Collectors building high-grade sets often find San Francisco coins the hardest to obtain in problem-free, well-struck condition.

Locating and Reading the Mint Mark

On all Buffalo Nickels, the mint mark appears on the reverse. It is located below the denomination "FIVE CENTS," between the bottom of the lettering and the rim. On well-struck specimens in good condition, the mint mark is easy to read. On worn coins — especially dateless examples — the mint mark may also be weakened or absent. If you cannot read either the date or the mint mark clearly, you have likely encountered a dateless coin (discussed fully in a later section).

Error Coins and Die Varieties

Beyond the Three-Legged Buffalo and the 1918/7-D overdate, the Buffalo Nickel series includes a rich variety of error coins and die varieties that attract specialist collectors. These coins offer a fascinating window into early twentieth-century Mint operations and can command significant premiums.

Doubled Die Varieties

The most important doubled die in the series is the 1916 Doubled Die Obverse. On this variety, the doubling is dramatic and clearly visible on LIBERTY and the date — both elements show a strong separation between the primary and secondary impressions. This coin is extremely rare and valuable; genuine examples in any grade are worth thousands of dollars. Because of its value, the 1916 DDO is frequently counterfeited or misidentified, so authentication by PCGS or NGC is essential before purchase.

Less dramatic doubled die varieties exist for other dates throughout the series. Most are minor and carry modest premiums among specialists, but a few (particularly those with doubling visible to the naked eye) are genuinely collectible and valued by dedicated Buffalo Nickel enthusiasts.

Repunched Mint Marks (RPM)

Repunched mint marks occur when the mint mark was punched into the die more than once, with slight misalignment between impressions. The result is a mint mark that appears to have a shadow or ghost image alongside or overlapping the primary letter. Many Buffalo Nickel dates have known RPM varieties, and dedicated collectors seek them out. The most valuable RPMs are those where the repunching is dramatic and clearly visible under a loupe.

Clashed Dies

When a pair of dies comes together without a planchet between them, the obverse and reverse dies strike each other. This leaves ghost images of each die's design on the opposing die. Coins struck from clashed dies show incuse (recessed) ghost images of reverse design elements on the obverse, and vice versa. Many Buffalo Nickel dates have known clashed die varieties. While most are not dramatically valuable, they are interesting pieces of minting history.

Off-Center Strikes

Off-center strikes occur when the planchet is not properly centered over the dies during striking. The result is a coin that shows the design on only part of its surface, with the rest being a blank crescent. Off-center Buffalo Nickels are collectible, with the value depending on the percentage off-center and whether the date is visible. Specimens that are 20–50% off-center and show the full date are the most sought-after.

The 1935 Doubled Die Reverse

The 1935 Doubled Die Reverse is one of the more collectible die varieties of the later part of the series. Strong doubling is visible on the reverse design elements, particularly in the lettering of UNITED STATES OF AMERICA. While not as famous as the 1916 DDO, this variety has a dedicated following among specialists.

Grading Buffalo Nickels

Accurate grading is the cornerstone of buying and selling Buffalo Nickels fairly. Because the series is so popular and the key dates so valuable, even small differences in grade can mean hundreds or thousands of dollars. The same foundational grading methods that apply to other US coins work here, but with attention to the specific high points unique to this design.

Key Wear Points

Buffalo Nickels have several specific areas where wear appears first and progresses most rapidly. Checking these points is the fastest way to assign an accurate circulated grade:

Obverse:

• Cheekbone: The highest point of the obverse; the first area to show wear. In grades below Very Fine, the cheekbone is flat with little detail.
• Hair above the braid: Fine hair details above the ear show wear quickly. Full hair detail is a requirement for grades of Extremely Fine or better.
• Feather tips: The tips of the headdress feathers wear progressively; their sharpness indicates grade.
• Date: The date sits on the coin's shoulder and is susceptible to both wear and strike weakness. Clarity of the date is critical to value.

Reverse:

• Buffalo's horn: The single most important grading point on the reverse. The horn is the highest relief element on that side and shows wear immediately. A coin in Fine has a flat horn with no detail; a coin in Very Fine shows partial horn detail; Extremely Fine or better shows a complete horn with full texture.
• Hump: The bison's front shoulder hump loses surface detail quickly. Check for hair texture and musculature.
• Hindquarters: The rear flanks of the bison retain design detail longer than the shoulder but still show progressive wear.
• Tail: The tail should show hair separation in higher grades; in lower grades it becomes a flat stripe.

Grading Scale Overview

Good (G-4 to G-6): The design is clearly outlined but flat; most fine details are gone. The date must be fully readable. Major design elements (portrait, buffalo) are distinct. The rim is generally complete.

Very Good (VG-8 to VG-10): Some design detail visible; LIBERTY is readable. The horn on the reverse is nearly flat. Portrait shows some depth. Date is clear and sharp.

Fine (F-12 to F-15): Moderate wear on high points. Horn is flat. Hair above the braid is worn smooth. Date is bold and clear. FIVE CENTS is readable.

Very Fine (VF-20 to VF-35): Light to moderate wear. Horn shows some curvature but no fine detail. Hair above the braid retains some detail. The date is sharp. Legends are complete and bold.

Extremely Fine (EF-40 to EF-45): Light wear on the highest points only. The horn retains most of its detail with only slight flatness at the tip. Hair detail is nearly complete. All design elements are sharp. A trace of original luster may be visible in the fields.

About Uncirculated (AU-50 to AU-58): Only the slightest trace of wear on the very highest points. Significant original luster remains, particularly in the fields and lower relief areas. The horn tip and cheekbone may show the faintest rubbing.

Mint State (MS-60 to MS-70): No wear. Graded by the quality of the strike, the luster, and the number, size, and severity of contact marks (bag marks) on the surfaces. A fully struck MS-65 with blazing luster and minimal marks is the gold standard for type coin collectors.

Strike Quality and Its Impact

Strike quality varies considerably across dates and mints in the Buffalo Nickel series. Some dates are consistently well-struck; others are notorious for weakness at the center of the design. The center of the obverse (the hair behind the ear and the area above it) and the corresponding area on the reverse (the horn and the bison's shoulder) are the most commonly weak areas on poorly struck coins.

A coin that appears to grade VF-30 based on wear may actually have a much weaker horn than a VF coin normally shows — not because of wear, but because the die didn't impress full detail to begin with. Experienced graders learn to distinguish strike weakness from wear, but it remains one of the more challenging aspects of Buffalo Nickel evaluation. Third-party certification services (PCGS and NGC) designate coins with exceptional strike as "Full Horn" (FH), which commands a significant premium.

The Dateless Buffalo Nickel Problem

Walk into any coin show or flea market, and you're likely to encounter a bin of dateless Buffalo Nickels priced at fifty cents to a few dollars apiece. These are genuine Buffalo Nickels, but the date has worn completely away, making identification of the specific year and mint impossible. Understanding why this happens — and what, if anything, you can do about it — is important for any Buffalo Nickel collector.

Why Dates Wear Away

The date on a Buffalo Nickel is located at the lower left of the obverse, on the shoulder of the portrait. This position places the date on a raised area of the coin that is particularly vulnerable to wear. Unlike later nickel designs where the date is more protected, the Buffalo Nickel's date is essentially one of the highest points on the obverse face. Decades of circulation, spent in cash registers and coin-operated machines, can wear the date away entirely while the rest of the coin remains at least partially recognizable.

Compounding the problem, some dates were struck with weak die impressions to begin with, meaning the date was never as sharp as it should have been even on new coins. A 1926-S with a weakly struck date might become dateless after only moderate circulation that would leave a better-struck coin perfectly readable.

Acid Date Restoration

In the mid-twentieth century, a practice developed of using mild acid to etch away the surface of a dateless Buffalo Nickel's date area to try to bring up any ghost image of the date beneath. Various commercial products were sold for this purpose, with brand names like "Nic-A-Date." The process works by chemically removing the outermost layer of metal, sometimes revealing a faint impression of the date in the slightly deeper layer below.

The results are mixed. On coins where significant date impression remains just below the surface, a readable date can emerge. On coins that were struck softly to begin with, the result may be illegible or only partially legible. And here is the critical point: acid-restored dates permanently alter the coin and reduce its numismatic value. A coin with an acid-restored date is worth no more — and often less — than a dateless coin. The surface alteration is permanent and immediately obvious to experienced graders. PCGS and NGC will not grade a coin as a specific date based on an acid-restored date; they'll note the alteration instead.

The only legitimate value of acid restoration is personal curiosity — if you want to know roughly what date your dateless nickel might be, the process can give you a hint. But never purchase an acid-restored coin believing you have a key date, and never sell one as a specific date without full disclosure.

What Are Dateless Buffalo Nickels Worth?

A dateless Buffalo Nickel in average condition — heavily circulated, no date, no significant error or variety — is worth approximately 25 to 75 cents in today's market. Dealers buy them in bulk for a few cents each and resell them as novelty items or conversation pieces. They have zero numismatic value as collectibles but remain interesting artifacts of American monetary history. Children and beginning collectors often enjoy them as a starting point, which has some merit — but as investments or collectibles, they are essentially worthless.

Authentication Tips: Spotting Counterfeits

Because key date Buffalo Nickels can be worth thousands of dollars, counterfeiters have produced fakes for as long as there have been collectors willing to pay premium prices. The most common methods of fraud involve altered dates, added mint marks, and outright cast or struck counterfeits. The coin authentication principles that apply to all US coins are especially important here.

Altered Dates

The most common fraud in the Buffalo Nickel series involves altering dates from common, inexpensive coins to resemble rare key dates. For example, a 1938-D (very common) might have its date altered to read 1928-D, or a common Philadelphia date might be manipulated to resemble a key San Francisco issue. Examine the date digits carefully under magnification:

• Look for tool marks in or around the numerals
• Check whether the font style of each digit matches the expected design for the date
• Look for unnatural smoothness or roughness adjacent to digits where material may have been added or removed
• Compare the spacing between digits against known genuine examples

Added Mint Marks

Adding an "S" or "D" mint mark to a Philadelphia-mint coin to make it appear to be a scarcer San Francisco or Denver issue is another well-documented fraud. Signs of an added mint mark include:

• The mint mark appears slightly raised above the surrounding field rather than sitting naturally within it
• The surface texture of the mint mark differs from adjacent areas
• Under magnification, tool marks or solder traces may be visible around the mint mark
• The style or size of the mint mark may not match genuine examples of that year

Cast Counterfeits

Cast counterfeits are made by creating a mold from a genuine coin and casting the fake from metal poured into the mold. Cast coins have a characteristic grainy or porous surface texture (because metal shrinks slightly as it cools, the cast coin is slightly smaller and the surface shows tiny imperfections). The edge of a cast coin often lacks the sharp definition of a struck coin, and the overall relief tends to be slightly softer than genuine specimens. Cast counterfeits of Buffalo Nickels typically appear only for the highest-value coins — the 1916 DDO, the major key dates, and the Three-Legged Buffalo.

Using Third-Party Grading Services

For any Buffalo Nickel worth more than $100, purchasing a coin already certified by PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) is strongly recommended. Both services have examined hundreds of thousands of Buffalo Nickels and have sophisticated methods for detecting alterations and counterfeits. A certified coin in a sealed, tamper-evident holder provides far greater confidence than any raw coin, no matter how experienced your own eye. The certification fee is modest relative to the protection it provides on valuable coins.

Current Market Values and Price Guide

Buffalo Nickel values span an enormous range — from a few cents for a dateless example to six figures for a pristine key date. The prices below reflect approximate retail values as of 2026 for problem-free, original-surface coins. Cleaned, damaged, or impaired coins are worth substantially less. Values for certified coins (PCGS or NGC) may differ from raw coins. Always consult current price guides or auction records for up-to-date figures, as the rare coin market fluctuates.

Common Dates (Philadelphia, Most Years)

These are the workhorses of the series — well-struck coins from Philadelphia with high mintages. They are affordable and excellent for type collection purposes.

• Good-4: $3–$8
• Very Fine-20: $10–$18
• Extremely Fine-40: $20–$35
• MS-63: $80–$150
• MS-65: $250–$500
• MS-65 Full Horn: $500–$1,000+

1913-S Type 2

• Good-4: $400–$600
• Very Fine-20: $1,000–$1,600
• Extremely Fine-40: $2,500–$3,500
• MS-63: $8,000–$12,000

1918/7-D Overdate

• Good-4: $600–$900
• Very Fine-20: $2,000–$3,000
• Extremely Fine-40: $5,000–$8,000
• MS-63: $20,000–$30,000+

1921-S

• Good-4: $200–$350
• Very Fine-20: $600–$900
• Extremely Fine-40: $1,500–$2,500
• MS-63: $10,000–$18,000

1926-S

• Good-4: $200–$350
• Very Fine-20: $700–$1,100
• Extremely Fine-40: $2,000–$3,000
• MS-63: $15,000–$25,000

1937-D Three-Legged Buffalo

• Good-4: $400–$600
• Very Fine-20: $1,200–$1,800
• Extremely Fine-40: $2,500–$4,000
• MS-63: $8,000–$14,000
• MS-65: $30,000–$60,000+

1916 Doubled Die Obverse

• Good-4: $3,000–$5,000
• Very Fine-20: $12,000–$18,000
• MS-63: $100,000+

Note: These are retail price estimates. Actual sale prices at auction may vary significantly based on eye appeal, certification, and current market demand. For important purchases, always reference recent auction archives from Heritage Auctions, Stack's Bowers, or similar venues alongside standard price guides like the PCGS or NGC price guides.

Building a Buffalo Nickel Collection

The Buffalo Nickel series is large enough to challenge even experienced collectors yet accessible enough for newcomers to make meaningful progress without enormous investment. There are several distinct approaches to collecting, each with its own appeal and difficulty level. The same strategic thinking that applies here also benefits collectors pursuing other American classics — from the Indian Head Penny series to the great silver dollar series.

Type Collection

The simplest and most budget-friendly approach is a type collection: one example each of the Type 1 (1913 raised mound) and Type 2 (1913 onward flat ground) designs. This requires just two coins to complete and can be assembled for a few hundred dollars in high circulated grades, or a few thousand for Mint State examples. A type collection is perfect for collectors who want to own beautiful examples of the design without committing to the expense of a full date-and-mintmark set.

Date Set (No Mint Marks)

A date set includes one coin for each year the Buffalo Nickel was produced, regardless of mint. This means 25 coins (one for each year from 1913 through 1938). A date set in circulated grades is achievable without any of the true key-date expenses, since you can use the more common Philadelphia coins for the years where keys exist (like 1921 and 1926) rather than the rarer branch-mint versions. This approach gives you the full run of design years without breaking the bank.

Complete Date-and-Mint-Mark Set

A complete set includes one coin for every date-and-mint-mark combination produced — approximately 65 coins in total when including Type 1 and Type 2 varieties. This is the most demanding approach and requires obtaining all the key dates. Most serious collectors who pursue a complete set work in circulated grades (Fine through Extremely Fine) for the key dates, which keeps the project financially manageable, while seeking Mint State examples for the common dates.

Specialty Collections

Many collectors focus on subspecialties within the series:

• Error and variety collection: Focusing on doubled dies, repunched mint marks, overdates, and other die varieties
• Full Horn set: Pursuing only coins certified Full Horn (FH) by PCGS or NGC — a demanding and expensive goal
• Single mint set: Collecting every date from one mint only (all San Francisco issues, for example)
• High-grade type: Seeking the single finest-possible example of the design for a "best of type" display piece

Practical Tips for Assembling Your Collection

Whatever approach you choose, a few practical guidelines will serve you well:

• Start with the common dates: Building familiarity with what a well-struck, problem-free Buffalo Nickel looks like on common dates prepares your eye for evaluating the key dates.
• Buy certified coins for the keys: For any coin worth more than $100, PCGS or NGC certification significantly reduces fraud risk and aids future resale.
• Focus on eye appeal: Within any grade, coins with strong strikes, original surfaces, and attractive coloring are more desirable and hold value better than technically equal coins with problems.
• Study before you buy: Read auction archives to understand what specific dates sell for. Compare images of similar coins to develop a sense of what strong and weak examples look like.
• Be patient: The best coins rarely appear on demand. Building a high-quality collection takes years of searching and patience.

Storage and Preservation

Proper storage is essential for maintaining the value and appeal of your Buffalo Nickel collection. Even coins that survived decades of circulation can be damaged by improper storage in your collection.

What to Avoid

Several common storage materials and practices actively harm coins:

• PVC (polyvinyl chloride) holders: Older soft plastic flips and some coin envelopes contain PVC, which outgasses a green, sticky chemical over time that etches into coin surfaces. Look for "non-PVC" or "Mylar" markings on any plastic holder you purchase.
• Paper envelopes with acids: Some paper products contain sulfur compounds or acids that accelerate toning and can damage surfaces. Use acid-free, archival-quality envelopes.
• Rubber bands: Rubber contains sulfur and will cause dark, irreversible spotting on coin surfaces. Never use rubber bands near coins.
• Humid environments: Moisture accelerates oxidation. Store coins in a dry environment with stable humidity below 50%.
• Direct sunlight: UV light can affect coin surfaces over time. Store coins away from windows and direct light sources.

Recommended Storage Options

• Hard plastic holders (slabs): PCGS and NGC certified coins come in inert, archival-quality plastic slabs that provide excellent long-term protection. These are the gold standard for valuable coins.
• Non-PVC flips: Mylar or polyethylene flips are safe for short-term storage and examination. Look specifically for "non-PVC" labeling.
• Cardboard 2x2 holders: Staple-sealed cardboard holders with Mylar windows are a traditional and safe storage method. Ensure the Mylar is non-PVC.
• Albums: Quality coin albums from manufacturers like Dansco or Whitman use safe materials. However, avoid squeezing coins into tight-fitting holes, which can cause rim damage.
• Safe deposit boxes or fire-resistant safes: For valuable coins, secure physical storage in addition to archival holders is wise.

Handling Guidelines

Always handle coins by their edges, never their faces. Even clean, dry fingers leave oils that can etch into surfaces over time. Cotton gloves are suitable for handling high-value coins. Never clean coins — virtually any cleaning reduces numismatic value. Even a gentle rinse with distilled water, if done improperly, can leave micro-scratches or water spots. If a coin appears to need cleaning, consult an experienced conservator rather than attempting it yourself.

Frequently Asked Questions

How do I tell if my Buffalo Nickel is valuable?

Start by reading the date and mint mark clearly. If the date is legible, look it up in a current price guide (PCGS or NGC publish online price guides for free) to see baseline values. Then examine the coin's condition carefully — a key date in Good condition is valuable; a common date in Good condition is worth a dollar or two. The combination of date, mint mark, and condition determines value. For any coin that appears potentially valuable, get a second opinion from an experienced dealer or submit it to a third-party grading service.

What is the most valuable Buffalo Nickel?

The 1916 Doubled Die Obverse is the most valuable Buffalo Nickel in high grades, with Mint State examples worth six figures. Among non-error coins, the 1913-S Type 2 and 1926-S are the most valuable regular-issue keys. The 1937-D Three-Legged Buffalo is the most famous error and commands the highest prices among errors that can be found in circulated grades.

Can I restore the date on a dateless Buffalo Nickel?

You can attempt acid restoration using commercial products like Nic-A-Date, but the process permanently alters the coin and eliminates any numismatic value. The result may give you a rough idea of the date, but the coin cannot be sold or collected as a specific date afterward. If you just want to satisfy your curiosity, acid restoration is acceptable; if you want to preserve or enhance value, it is not.

Are Buffalo Nickels made of silver?

No. Buffalo Nickels are composed of 75% copper and 25% nickel — the same alloy as modern Jefferson nickels. They contain no silver. The similar-looking "war nickels" (1942–1945 Jefferson nickels) do contain 35% silver, but Buffalo Nickels do not. There is no need to test Buffalo Nickels for silver content.

How can I tell a genuine 1937-D Three-Legged Buffalo from a fake?

On a genuine Three-Legged Buffalo, the front right leg of the bison is absent, replaced by a smooth, polished area of field that was part of the original die surface. Fake specimens typically have a leg that was mechanically removed after striking — look for tool marks, scratches, or inconsistent surface texture in the area where the leg should be. Purchasing only PCGS or NGC certified examples is the safest approach. Never buy a raw Three-Legged Buffalo without in-hand examination by an expert.

What does "Full Horn" mean and why does it matter?

Full Horn (FH) is a designation given by PCGS and NGC to Buffalo Nickels in Mint State where the bison's horn is fully struck with complete detail from tip to base. Because the horn is the highest relief point on the reverse and coins were often weakly struck in that area, a fully detailed horn indicates both a well-struck planchet and a fresh, sharp die. Full Horn coins command premiums of 50% to several hundred percent over non-FH coins of the same numeric grade, depending on the date.

Is collecting Buffalo Nickels a good investment?

Key date and high-grade Buffalo Nickels have historically appreciated well over long time horizons. Common dates in circulated grades have not shown significant appreciation and should be collected for enjoyment rather than financial return. Like any collectible, the coin market fluctuates, and past performance does not guarantee future returns. Collect what you enjoy; if the coins also appreciate in value, that is a bonus rather than the primary motivation.

How does collecting Buffalo Nickels compare to collecting Morgan Silver Dollars?

Both series are popular and well-documented, but they differ considerably in scale and cost. The Morgan Silver Dollar series involves many more date-and-mint-mark combinations and much higher individual coin prices (due to the silver content and large format). Buffalo Nickels are generally more accessible for beginning collectors in terms of entry-level cost, but the key dates in high grades can rival or exceed Morgan Dollar values. Both series reward patient study and careful buying — and both are tremendously rewarding to collect.