Buffalo nickels, officially known as Indian Head nickels, were minted from 1913 to 1938 and are among the most iconic coins in U.S. history. Known for their distinctive design featuring a Native American chief on the obverse and an American bison on the reverse, these coins are treasured by collectors. While millions were minted, some Buffalo nickels are incredibly rare due to low mintages, errors, or specific historical quirks. If you’re lucky enough to find one, you might be holding a small fortune. Here’s a look at the 15 rarest Buffalo nickels and what they’re worth.
1. 1913-S Type 2 Buffalo Nickel
This coin is one of the key dates in the Buffalo nickel series. The U.S. Mint changed the reverse design mid-year from a raised mound (Type 1) to a flat plain (Type 2) to prevent rapid wear. The San Francisco Mint produced a low number of Type 2 coins, making the 1913-S Type 2 extremely desirable. In circulated condition, it’s worth $300–$700, while uncirculated examples can fetch over $3,000.
2. 1916 Doubled Die Obverse
This rare variety is known for its strong doubling on the date and the word “LIBERTY.” It was caused by a misaligned die strike. Only a handful are known to exist, and it’s considered one of the most significant doubled dies in U.S. coinage. A circulated example can command $3,000 to $15,000, with pristine coins reaching $100,000 or more at auction.
3. 1921-S Buffalo Nickel
Produced at the San Francisco Mint, the 1921-S had a low mintage of just over 1.5 million. It’s challenging to find in high grade due to poor strike quality and heavy circulation. Even in lower grades, it’s worth $50 to $200. In uncirculated condition, values can soar to $5,000+.
4. 1918/7-D Overdate Buffalo Nickel
One of the most famous error coins in U.S. history, the 1918/7-D features a visible “7” under the “8” in the date. It was caused by reusing a 1917 die in 1918. These are incredibly valuable—circulated pieces range from $1,000 to $10,000, and high-grade examples can exceed $150,000.
5. 1926-S Buffalo Nickel
With only 970,000 minted, the 1926-S is the lowest-mintage regular-issue Buffalo nickel. It’s relatively common in worn grades but extremely rare in mint state. Prices range from $30 in VG condition to over $10,000 in MS65 or better.
6. 1937-D Three-Legged Buffalo
This famous error occurred when a Mint employee over-polished a die, removing the front leg of the bison. The result is a three-legged buffalo that stands out dramatically. Even well-worn examples are worth $700–$1,000. In uncirculated grades, this coin can bring $20,000 or more.
7. 1914/3 Overdate Buffalo Nickel
This overdate error is subtler than the 1918/7-D but still very rare. You can see remnants of a “3” under the “4” in the date. It’s a tough variety to spot without magnification. These coins can fetch $300 to $1,500 in circulated condition, and much more in high grade.
8. 1913 Liberty Head/Type 1 Transitional Error
In rare cases, 1913 Liberty Head nickels (the previous design) were struck by accident after Buffalo nickels had already begun production. Only five specimens are known, and they are among the most famous and valuable U.S. coins. One sold for over $4.5 million in 2022.
9. 1924-S Buffalo Nickel
This coin is common in lower grades but hard to find with a strong strike or in high-grade condition. San Francisco-minted coins from this era often had poor quality, which increases the value of well-struck examples. Values range from $10 in worn condition to $5,000+ in uncirculated state.
10. 1935 Doubled Die Reverse
This variety shows doubling on the buffalo’s leg and feather details. It’s more common than the 1916 doubled die but still highly collectible. Expect to pay $100 to $300 in circulated grades, with gem examples bringing in over $2,000.
11. 1915-S Buffalo Nickel
This early S-mint coin had a limited mintage and is scarce in well-preserved condition. Circulated examples are valued between $50 and $500. Mint state coins, especially with strong strikes, can be worth $3,000 or more.
12. 1936-D Three-and-a-Half Leg Buffalo
This oddity resulted from an over-polished die, like the 1937-D. Here, the buffalo’s front leg is partially missing—hence the name. Values vary but usually start around $100 in lower grades and rise to several thousand for high-grade examples.
13. 1927-S Buffalo Nickel
Another low-mintage S-mint issue, the 1927-S suffers from weak strikes and is tough to find in appealing condition. Expect to pay $20 to $300 for circulated examples and over $4,000 for MS65-grade coins.
14. 1938-D Buffalo Nickel (Last Year of Issue)
While not rare by mintage, the 1938-D is the final year of the series, making it highly collectible. It’s known for its excellent strike quality. In uncirculated condition, it’s worth $30–$100, and top-graded specimens can reach $1,000.
15. 1917-S Buffalo Nickel
This coin is desirable due to its low mintage and tendency to wear heavily in circulation. It’s valued at $20 to $200 in circulated grades, with prices climbing to $3,000+ for MS65 or better specimens.
FAQs
Q1: What makes a Buffalo nickel valuable?
Rarity, condition, mint errors, and specific varieties (like overdates or doubled dies) significantly increase a Buffalo nickel’s value.
Q2: Where can I find rare Buffalo nickels?
They can still occasionally be found in old collections, estate sales, or inherited coin jars. Coin shows and reputable dealers are the best sources for serious buyers.
Q3: Are Buffalo nickels made of silver?
No, Buffalo nickels are composed of 75% copper and 25% nickel. They do not contain any silver.
Q4: Should I clean my Buffalo nickels?
Absolutely not. Cleaning a coin can drastically reduce its value. Collectors prefer coins in original, unaltered condition—even if they’re worn.
Conclusion
Buffalo nickels are more than just vintage coins—they’re pieces of American history. Whether you’re a seasoned numismatist or a casual collector, understanding the value of these rare coins can pay off. Some of the nickels mentioned here are true treasures, and they may be hiding in your collection or waiting to be discovered at a garage sale. Keep your eyes peeled and a magnifying glass handy—you never know when you’ll find a nickel worth thousands.