The Buffalo Nickel, also known as the Indian Head Nickel, is one of the most beloved coins in American history. Struck between 1913 and 1938, this five-cent piece captures the essence of the American frontier and Native American heritage. Despite being discontinued due to design challenges, Buffalo Nickels remain highly collectible, with certain key dates and error varieties fetching substantial sums on the numismatic market.
The Buffalo Nickel was designed by renowned sculptor James Earle Fraser, a former student of Augustus Saint-Gaudens. Fraser’s goal was to create a coin that was distinctly American.
This bold and intricate design quickly became a favorite among collectors, and even after the series ended, it remains one of the most celebrated coins in U.S. numismatics.
Despite its artistic appeal, the Buffalo Nickel had several production flaws that led to its eventual replacement by the Jefferson Nickel in 1938:
However, Buffalo Nickels remain highly sought-after by collectors, particularly for key dates, rare mint errors, and well-preserved specimens.
Below is a ranked list of the 25 most valuable Buffalo Nickels, along with their estimated market values.
A rare overdate variety where a 1917 date was struck over an 8. Extremely scarce in high grades, making it the most coveted Buffalo Nickel.
Strong doubling on the date and inscriptions makes this a highly sought-after variety with few known examples.
The lowest-mintage Buffalo Nickel with only 970,000 pieces struck. Very rare in uncirculated condition.
A first-year San Francisco issue with the revised "flat mound" reverse design, scarce in Mint State.
One of the most famous U.S. mint errors, caused by over-polishing of the die, making the buffalo appear to have only three legs.
A rare overdate error where a 1914 date was struck over a 1913, making it a prized variety for collectors.
Low-mintage and poorly struck, making high-grade examples particularly valuable.
Features the original "raised mound" reverse, which was later replaced. A key first-year rarity.
A bold doubled die variety with strong doubling on inscriptions and the buffalo’s back.
A low-mintage key date that is tough to find in well-struck condition.
A scarce post-WWI issue with weak strikes and low survival rates.
Difficult to find in Mint State due to poor striking quality and wear.
A low-mintage, weakly struck coin, making uncirculated examples rare.
A San Francisco Mint rarity, often found poorly struck, increasing demand for well-defined specimens.
Similar to the 1937-D 3-Legged Nickel, this error has part of the buffalo’s leg missing.
Known for its weak strikes and difficulty in finding high-grade examples.
An over-mintmark error, where a Denver mintmark was stamped over a San Francisco mintmark.
Doubled lettering and date make this a standout variety.
The Denver Mint’s Type 2 version is a key date that commands high demand.
Hard to find in Mint State due to low survival rates.
Striking quality issues make well-preserved examples highly desirable.
Weak strikes and limited availability in Mint State make it an expensive find.
The final year of the Buffalo Nickel series, only minted in Denver.
A San Francisco issue known for its poor strike quality, making high grades rare.
Despite a high mintage, most were poorly struck and heavily circulated, making Mint State pieces valuable.
Note on Values:
The estimated values assigned to each Buffalo Nickel are based on current market trends, rarity, and coin grading standards. Actual prices may fluctuate due to factors such as collector demand, overall coin condition, and the specific marketplace in which it is bought or sold. For the most precise valuation, it is advisable to seek authentication or certification from a reputable coin grading service.
Collecting Buffalo Nickels is both rewarding and challenging due to their design flaws and scarcity in high grades. Here are some expert tips:
Buffalo Nickels remain a staple of American coin collecting, admired for their historical significance, intricate design, and strong market demand. With key dates and rare varieties continuing to appreciate in value, this series offers both an exciting challenge for numismatists and a compelling opportunity for investors.
For those interested in starting or expanding a Buffalo Nickels collection, knowledge is key. Understanding factors like rarity, condition, and authentication can help collectors make informed purchasing decisions. Comparing prices from reputable dealers and consulting numismatic resources ensures that collectors secure the best value for their investment.
As one of the most recognizable and beloved U.S. coin series, the Buffalo Nickel continues to be a highly sought-after piece of numismatic history, making it a standout addition to any collection.