Imagine grabbing a handful of change from your pocket and finding a coin that could be worth $10,000. It sounds like a dream, but for those lucky (and observant) enough to spot the right coin, it’s a very real possibility. One such coin? The Buffalo nickel — a beautifully crafted piece of American history that has, in some cases, sold for five figures or more.
While most Buffalo nickels are worth no more than a few bucks in worn condition, certain rare dates and minting errors can push their value into the thousands. Yes, even today, in the age of smartphones and crypto, a 5-cent coin from nearly a century ago can still pack a financial punch.
So, what’s the story behind the Buffalo nickel, which ones are worth a fortune, and how can you spot one? Let’s dive in — because that change rattling in your car cupholder might just be holding a hidden treasure.
The Birth of the Buffalo Nickel
The Buffalo nickel — also known as the Indian Head nickel — was minted by the United States from 1913 to 1938. It replaced the Liberty Head “V” nickel and was introduced as part of a larger initiative to create more artistic and symbolic coin designs.
The coin’s obverse (front) features the profile of a Native American man, created from a combination of features from several Native American chiefs who modeled for the designer, James Earle Fraser. The reverse (back) showcases a majestic American bison (commonly called a buffalo), standing atop a mound.
This design celebrated America’s frontier history, but it wasn’t without controversy. Critics at the time argued that the coin wore out too quickly, especially the date — a problem that would later make certain Buffalo nickels very rare and extremely valuable.
What Makes a Buffalo Nickel Valuable?
Most Buffalo nickels are common, especially those minted in the mid- to late-1930s. However, several factors can boost a coin’s value:
1. Rarity (Low Mintage)
Some years and mint locations produced fewer nickels than others. Lower production numbers mean fewer surviving coins, which increases scarcity and value.
2. Condition (Grade)
Like most collectibles, condition matters. A well-preserved Buffalo nickel in “Mint State” condition (meaning it looks almost brand new) is far more valuable than a worn one.
3. Mint Mark
Buffalo nickels were minted in Philadelphia (no mint mark), Denver (D), and San Francisco (S). Some specific mint marks and years are more valuable than others.
4. Errors and Varieties
Some Buffalo nickels were struck with minting errors that now make them rare collector’s items. The most famous of these is the 1937-D “Three-Legged” Buffalo nickel — but more on that shortly.
5. Legibility of the Date
As mentioned, one flaw in the design of the Buffalo nickel was that the date wore off easily. If the date is still fully visible and readable, it’s automatically more desirable.
The Big One: The 1937-D “Three-Legged” Buffalo Nickel
The most well-known and valuable Buffalo nickel error is the 1937-D Three-Legged variety, which can sell for $5,000 to $10,000, and sometimes far more, depending on condition.
So, what’s the deal with this strange coin?
At the Denver Mint in 1937, a damaged die used to strike the reverse of the coin resulted in the buffalo appearing to have only three legs instead of four. The front leg was accidentally polished off during maintenance.
It was a true accident — and a very valuable one. Estimates suggest only a few thousand were ever produced, and far fewer survive in high condition.
If you find a 1937-D Buffalo nickel, take a close look at the buffalo’s front legs. If the front right leg is missing, congratulations — you may be holding a coin worth thousands.
Other Valuable Buffalo Nickels to Watch For
While the Three-Legged nickel is the star of the show, it’s not the only valuable Buffalo nickel. Here are some others worth serious money:
1913-S Type 2
- Value: $800 to $10,000+
- Only 1.2 million of these were minted, making it one of the scarcest Buffalo nickels.
- The “Type 2” version shows the buffalo standing on a flat plain instead of a mound (Type 1).
- Look for an S mint mark and a 1913 date — then check the reverse.
1916 Doubled Die Obverse
- Value: $2,000 to $15,000+
- This error features doubling on the date and lettering on the front of the coin.
- These are rare and require a keen eye — or a magnifying glass — to identify.
1926-S
- Value: $300 to $10,000+
- Another low-mintage year, with fewer than 1 million coins struck at the San Francisco Mint.
- If found in excellent condition, this coin is a treasure.
1918/7-D Overdate
- Value: $3,000 to $20,000+
- One of the most dramatic and famous overdates in coin collecting.
- You’ll notice the “7” peeking underneath the “8” in the date.
- Even in worn condition, it’s highly sought after.
1935 Doubled Die Reverse
- Value: $150 to $3,000+
- This error features doubling on the lettering on the reverse (the words “FIVE CENTS” and “E PLURIBUS UNUM”).
- While not as valuable as others, it’s still a solid find.
How to Check Your Change for a Valuable Buffalo Nickel
Most people don’t think twice when they see a nickel — but a second glance could pay off big. Here’s how to check:
- Look for the Buffalo: First, check for a buffalo on the reverse. If it’s a Jefferson nickel (with Thomas Jefferson on the front and Monticello on the back), it’s not what we’re looking for.
- Check the Date: Look for the date on the front (lower left side). If it’s one of the key dates mentioned above, pay closer attention.
- Look for a Mint Mark: Check under the words “FIVE CENTS” on the back. No mark means Philadelphia, “D” means Denver, and “S” means San Francisco.
- Inspect for Errors: Look for anything unusual — a missing leg, doubling, or strange date. A magnifying glass can help.
- Don’t Clean the Coin: Never clean a coin — it can destroy the surface and decrease its value significantly.
How to Get a Buffalo Nickel Appraised
If you think you’ve found something special, here’s how to proceed:
- Weigh and Photograph the coin in good lighting.
- Use a magnet (Buffalo nickels are not magnetic — this helps rule out fakes).
- Visit a Reputable Dealer or coin show for a physical evaluation.
- Send to a Grading Service: Professional companies like NGC or PCGS can authenticate and grade your coin, which is crucial if you’re planning to sell.
Stories of People Striking It Rich
Believe it or not, several people have made serious money from coins found in pocket change, old jars, or inherited coin collections. Some have even uncovered Buffalo nickels worth thousands.
For example, a man in Arizona once found a 1937-D Three-Legged Buffalo nickel in his grandfather’s coin jar. After verifying its authenticity and getting it graded, it sold at auction for over $14,000.
Another woman discovered a 1918/7-D overdate nickel in a box of coins she inherited from her father. That coin, in worn condition, still netted her nearly $3,500.
These aren’t myths — they’re real stories. Which begs the question: What’s hiding in your house?
Where Else to Find Buffalo Nickels
Not finding any Buffalo nickels in your spare change? There are other places you can check:
- Old Coin Jars and Piggy Banks
- Estate Sales
- Flea Markets
- Antique Shops
- Rolls of Nickels from the Bank (yes, some people still search bank rolls — and strike gold)
Even if you don’t find a five-figure coin, Buffalo nickels are fascinating to collect. Their rugged, iconic design and historical significance make them some of the most beloved U.S. coins ever minted.
Final Thoughts: Small Coin, Big Value
The Buffalo nickel is a perfect example of how a small piece of change can carry enormous value — not just financially, but historically. Whether you’re a collector, an investor, or just someone curious about the treasures hidden in everyday life, the hunt for rare Buffalo nickels is both fun and potentially rewarding.
So next time you get change from the store, take a moment to glance through the nickels. Look for the buffalo. Check the date. Inspect the details.
You never know — you might be holding a $10,000 coin in your hand.
And in today’s world, that’s a win worth every penny.
