The Buffalo Nickel, also known as the Indian Head Nickel, is a beloved coin among collectors. This five-cent piece, created by sculptor James Earle Fraser, succeeded the V-Nickel and consists of 75% copper and 25% nickel. Produced for 25 years, the Buffalo Nickel was ultimately replaced by the Jefferson Nickel in 1938.
In May 1911, Eames MacVeagh, son of Treasury Secretary Franklin MacVeagh, wrote to his father suggesting a redesign of the five-cent piece. He pointed out that the nickel was the only coin eligible for a redesign during his father’s administration, as laws mandated a 25-year interval between design changes. Not long after, Abram Andrew, the new US Mint Director, initiated a search for fresh nickel designs. Sculptor James Earle Fraser, a former apprentice of Augustus Saint-Gaudens, submitted multiple designs. While designs featuring Abraham Lincoln were initially favored, Fraser’s Indian Head and Buffalo images were ultimately chosen.
In July 1912, the new design was announced, leading to concerns from manufacturers of coin-operated machinery. Clarence Hobbs of the Hobbs Manufacturing Company claimed his device could detect counterfeit nickels and demanded changes to the design. Despite months of demands, Franklin MacVeagh decided to proceed with the original design, noting that no other company had complaints and Hobbs’ device was not widely used. Hobbs appealed to President Taft, but with a mere two weeks remaining in his term, Taft refused to delay production, and the new design was minted.
The original Buffalo Nickel featured a Native American male on the obverse with ceremonial feathers in his braided hair. The reverse depicted an American Bison standing on a grassy mound, known as the 1913 Type I or “Mound Type.” In 1916, minor adjustments were made to emphasize the word "LIBERTY" and slightly alter its placement. Throughout its production, the Buffalo Nickel saw few major design changes. However, some varieties became famous, such as the 1937-D "three-legged" nickel, caused by an error at the Denver Mint.
Coin images sourced from: National Numismatic Collection, National Museum of American History
Buffalo Nickels are popular numismatic collectibles with values ranging widely based on year and condition. While many can be purchased for $10-$20, rarer varieties can exceed $50,000. About seven varieties have been valued at $5,000 or more in certain conditions, including:
Buffalo Nickels are generally affordable compared to other early American coinage, making them popular among collectors. Common dates typically range from $2-$50 in “Good” condition and $100-$300 or more in uncirculated condition. For accurate valuation, consult a numismatic professional such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Company (NGC).
Buffalo Nickels hold a significant place in American coinage history, known for their distinct design and rich cultural context. These coins are a prized addition to any collection, offering a unique glimpse into the past. At Bullion Hunters, we provide expert guidance and a wide array of collectible coins to help you find the perfect pieces. Visit our website or contact us to browse our inventory and elevate your collection. With their enduring appeal, Buffalo Nickel will remain a cherished part of American numismatics for generations to come.