Imagine stumbling upon a coin in your pocket change worth a small fortune. The Buffalo Nickel, a rare coin minted in the early 20th century, recently grabbed headlines for fetching an astounding $601,000.
This once common coin could be hiding in your change, so let’s explore its history, features, and how to spot a valuable one.
The Buffalo Nickel: A Quick Overview
The Buffalo Nickel, also called the Indian Head Nickel, was produced by the U.S. Mint from 1913 to 1938. Designed by sculptor James Earle Fraser, the coin showcases a Native American’s profile on the front and an American bison on the reverse. Fraser intended to honor both Native American culture and the American West with his design.
Why is the $601,000 Buffalo Nickel So Valuable?
Several key factors make this specific Buffalo Nickel worth a staggering amount:
- Overdate Error (1918/7-D)
The 1918/7-D overdate error is one of the most valuable and sought-after mistakes in the Buffalo Nickel series. This error occurred when a 1917 die was repurposed, creating a visible overlap of the two dates. These error coins are incredibly rare and highly coveted by collectors. - Mint State Condition
Coins in Mint State (MS) condition are worth significantly more. The $601,000 Buffalo Nickel is graded MS66, meaning it shows no signs of wear and retains its original shine—this is exceedingly rare for coins that are over a century old. - Low Mintage and Survival Rate
While millions of Buffalo Nickels were originally minted, very few have survived in excellent condition. The rarity of these coins, combined with the error, makes this one highly valuable.
Notable Buffalo Nickels and Their Worth
Here are some examples of notable Buffalo Nickels and their estimated values:
| Year | Mint Mark | Error/Variety | Grade | Estimated Value |
|---|---|---|---|---|
| 1918 | D | 7 Over 8 | MS66 | $601,000 |
| 1916 | P | Doubled Die Obverse | MS64 | $281,750 |
| 1937 | D | 3-Legged Buffalo | MS66 | $99,875 |
| 1926 | S | Low Mintage | MS65 | $105,750 |
| 1913 | S | Type 2 | PR68 | $143,500 |
How to Identify a Valuable Buffalo Nickel
If you want to check your change or coin collection for a potentially valuable Buffalo Nickel, follow these tips:
- Look for the Date and Mint Mark: Focus on key years like 1918/7-D, 1916 Doubled Die, and 1937-D 3-Legged. The mint mark appears below the “FIVE CENTS” on the reverse.
- Check for Errors: Use a magnifying glass to look for overdates, doubled dies, or missing buffalo legs.
- Evaluate the Condition: Coins with sharp features, minimal wear, and original luster are typically more valuable.
- Consult an Expert: If you think you’ve found a rare coin, have it professionally graded by a reputable service.
The discovery of a $601,000 Buffalo Nickel reminds us that hidden treasures can be found in everyday places. Whether you’re an experienced collector or a newcomer, it’s worth checking your spare change—it could lead to something extraordinary!
FAQs
How can I tell if my Buffalo Nickel is valuable?
Look for rare dates, mint marks, and any errors like overdates or doubled dies. Coins in excellent condition tend to be more valuable.
Where can I get my coin appraised?
You can have your coin appraised by professional grading services such as PCGS or NGC, which specialize in coin evaluations.
Are Buffalo Nickels still in circulation?
Buffalo Nickels are no longer being minted, but you may still find some in circulation, though it’s quite rare due to their age.
What makes a Buffalo Nickel so special?
Buffalo Nickels are special due to their historical significance, unique design, and the possibility of rare mint errors that increase their value.
