Rare Buffalo Nickels: Have you ever reached into an old jacket and pulled out some loose change only to toss it aside without a second thought? You might want to think twice. One particular coin, a rare Buffalo Nickel, recently made headlines when it was valued at a jaw-dropping $12 million. Yes, you read that right.
But what makes these old nickels so special? Could you be holding a hidden treasure without knowing it?
In this article, we’ll break down everything beginner coin collectors in the U.S. need to know about Buffalo Nickels how to identify them, what makes them valuable, and how to tell if you’ve got one worth a fortune.
What Is a Buffalo Nickel?
The Buffalo Nickel, also known as the Indian Head Nickel, was minted in the United States from 1913 to 1938. It features the profile of a Native American on one side and an American bison (commonly referred to as a buffalo) on the other.
These coins were designed by James Earle Fraser and have become iconic for their rugged, detailed appearance celebrated not just for their historical value but also for their artistry.
Why Are Some Buffalo Nickels Worth Millions?
Not all Buffalo Nickels are rare. Most are only worth a few dollars in circulated condition. But a handful stand out because of unique factors that can skyrocket their value.
Here are some reasons why a Buffalo Nickel could be worth a fortune:
| Factor | Description |
|---|---|
| Low Mintage | Some years had very limited production, making those coins extremely rare. |
| Minting Errors | Misprints or unusual mistakes (like double dies or missing dates) are valuable. |
| Condition | Coins in pristine, uncirculated condition are always worth more. |
| Historical Significance | Certain nickels have ties to important events or have well-documented history. |
| Famous Examples | Some nickels, like the 1913 Liberty Head (only 5 known), are legendary. |
One such coin the 1913 Liberty Head Nickel was once part of a private collection and later sold for over $12 million. Though technically not a Buffalo Nickel (it was minted before the Buffalo series began), it’s often mentioned in the same breath because of its immense value and similar era.
How to Identify a Buffalo Nickel
If you want to start searching for valuable Buffalo Nickels in your change jar, here’s what to look for:
1. Check the Date
Most Buffalo Nickels will have a date on the front (obverse) under the Native American’s neck. Key dates include:
- 1913-S Type 2
- 1916 Doubled Die
- 1918/7-D Overdate
- 1921-S
- 1937-D “Three-Legged” Buffalo
These are some of the rarest and most sought-after nickels by collectors.
2. Look for a Mint Mark
On the reverse side, beneath the words “FIVE CENTS,” look for a mint mark:
- No Mark = Philadelphia
- D = Denver
- S = San Francisco
Certain combinations of year and mint mark can make a coin extremely valuable.
3. Examine the Condition
A nickel in better condition is always more desirable. Coins are graded from Poor (P-1) to Mint State (MS-70). Even common Buffalo Nickels can be worth more if they’re in excellent shape.
Famous High-Value Buffalo Nickels
Here are a few legendary examples that made headlines:
| Year & Variety | Estimated Value | Notable Features |
|---|---|---|
| 1913 Liberty Head Nickel | $12,000,000+ | Only 5 known; not officially authorized |
| 1918/7-D Overdate Nickel | $300,000+ | Visible overdate error |
| 1937-D “Three-Legged” Buffalo | $100,000+ | Front leg of the buffalo is missing |
Where to Find Buffalo Nickels Today
You may not believe it, but people still find Buffalo Nickels in:
- Old jars or piggy banks
- Estate sales and flea markets
- Pocket change (rarely, but it happens!)
- Coin rolls from banks
- Inherited collections
Many collectors start small checking their family’s old change or purchasing affordable nickels online before building a larger, more valuable collection.
Tips for Beginner Coin Collectors
If you’re new to coin collecting, especially in the U.S., here are a few beginner tips:
Start with What You Have
Go through old coins at home. Look for Buffalo Nickels or any other pre-1960 coins.
Learn About Grading
Understanding coin grades helps you estimate value. Websites like PCGS and NGC offer free guides.
Store Coins Properly
Use coin holders or albums to avoid damage. Avoid cleaning coins—this can lower their value.
Buy from Reputable Dealers
Avoid scams by purchasing coins from trusted dealers or certified auctions.
Join Online Forums
Communities like Reddit’s r/coins or CoinTalk are great places to ask questions and learn from others.
Final Thoughts: Could You Have a $12 Million Nickel?
It sounds unbelievable but history proves it’s possible. Rare Buffalo Nickels, and other old coins like the 1913 Liberty Head Nickel, can be worth small fortunes if you’re lucky enough to find one.
So, the next time you’re digging through your pockets or cleaning out grandma’s attic, take a second look at those old nickels. You never know you might be holding a piece of American history worth millions.