How to Identify Rare Buffalo Nickels, Avoid Fakes & Build a Valuable Collection
Introduction
Buffalo Nickels, also known as Indian Head Nickels, are among the most iconic coins in American numismatic history. Minted from 1913 to 1938, these five-cent pieces capture a time of transition in the United States—when the country was moving past the frontier era yet still longing to honor its spirit.
Whether you’re a seasoned collector or just getting started, this comprehensive guide will cover the history, key dates, varieties, and insider tips for collecting Buffalo Nickels.
1. The History of the Buffalo Nickel
Why Was the Buffalo Nickel Created?
Before the Buffalo Nickel, the Liberty Head (V) Nickel had been in circulation since 1883. However, many felt its design had become outdated, especially as the early 20th century sparked a movement toward artistic and patriotic coin designs.
Theodore Roosevelt, a major advocate for beautiful coinage, pushed for changes that reflected American heritage. James Earle Fraser, a renowned sculptor, was selected to design a new five-cent coin that embodied the spirit of the American West.
James Earle Fraser’s Vision
Fraser designed the Buffalo Nickel to celebrate two symbols of American heritage:
- The Native American warrior on the obverse
- The mighty bison (buffalo) on the reverse
This design was groundbreaking, as it moved away from classical European styles and created a uniquely American coin.
2. Breaking Down the Design: Features & Symbolism
The Obverse: Native American Portrait
The face of the Buffalo Nickel features a composite portrait of three Native American chiefs:
- Iron Tail (Sioux)
- Two Moons (Cheyenne)
- (Possibly) Big Tree (Kiowa)
This portrait was not meant to represent a single individual, but rather an idealized depiction of Native American strength and dignity.
The Reverse: The Buffalo (Bison)
The bison on the reverse is often believed to be modeled after Black Diamond, a buffalo that lived in the Bronx Zoo. However, some details differ from Black Diamond’s actual appearance.
- Type 1 (1913): The bison stands on a raised mound with “FIVE CENTS” on top.
- Type 2 (1913-1938): The mound was flattened, and “FIVE CENTS” was placed in a recessed area to prevent wear.
3. Buffalo Nickel Minting History & Key Varieties
Where Were Buffalo Nickels Minted?
Buffalo Nickels were produced at three U.S. Mints:
- Philadelphia Mint (No Mint Mark)
- Denver Mint (D Mint Mark)
- San Francisco Mint (S Mint Mark)
Each mint had different production volumes, with San Francisco and Denver often producing lower numbers, making some of their coins more valuable today.
The 1913 Transition: Type 1 vs. Type 2
🔹 Type 1 (Raised Mound) – Early 1913:
- Bison stands on a raised mound.
- The design wore down too quickly in circulation.
🔹 Type 2 (Recessed Line) – Late 1913–1938:
- Mound flattened, “FIVE CENTS” placed in a protected recessed area.
- Improved durability for longer-lasting design.
4. Key Dates & Most Valuable Buffalo Nickels
While all Buffalo Nickels hold historical and collectible value, some dates are rarer and significantly more valuable than others.
🛑 Top Key Dates & Their Value:
| Year & Mint | Why It’s Valuable | Est. Value (Fine Condition+) |
|---|---|---|
| 1913-S Type 2 | First-year transition with low mintage | $500+ |
| 1918/7-D Overdate | Major overdate error (7 punched over an 8) | $1,000–$20,000 |
| 1921-S | Low mintage (~1.5M), rare in higher grades | $100+ |
| 1926-S | Lowest mintage in series (~970,000) | $500–$10,000+ |
| 1937-D 3-Legged | Mint error: missing buffalo’s front leg | $500–$5,000 |
👉 Want to learn more about coin values? Check out our Morgan Silver Dollar Guide.
5. Common Buffalo Nickel Errors & Varieties
Buffalo Nickels suffered from frequent striking issues, leading to some well-known errors that collectors seek today.
🔍 Most Popular Buffalo Nickel Errors
✅ 1937-D 3-Legged Buffalo
- The front leg was accidentally polished off the die, leaving a three-legged buffalo.
- Value: $500–$5,000, depending on condition.
✅ 1918/7-D Overdate
- The 7 wasn’t fully removed before the 8 was stamped.
- Value: $1,000–$20,000 in high grades.
✅ Weakly Struck Dates (“No Date” Buffalo Nickels)
- Due to high relief, the dates on many Buffalo Nickels wore off quickly.
- Most “No Date” Buffalo Nickels are worthless, but key dates restored with acid can fetch premiums.
6. Collecting Buffalo Nickels: Strategies & Tips
There are several ways to build a Buffalo Nickel collection, depending on your budget and goals.
💰 Collection Strategies:
1️⃣ Date & Mintmark Set – Collect one of each year and mint (e.g., 1913-S, 1913-D, 1926-S).
2️⃣ High-Grade Focus – Look for coins with a full horn (on the buffalo) for premium quality.
3️⃣ Error & Variety Collecting – Seek out overdates, 3-legged errors, and double-die strikes.
4️⃣ Investment Approach – Focus on low-mintage key dates for potential appreciation.
7. Where to Buy & Sell Buffalo Nickels
Buffalo Nickels are widely available, but knowing where to buy & sell is key to avoiding fakes and overpaying.
Best Places to Buy
- Reputable Coin Dealers (Check reviews, buy certified coins)
- Coin Shows & Auctions (Heritage Auctions, Stack’s Bowers)
- Online Marketplaces (eBay, but vet sellers carefully)
Selling Tips
- Get rare coins graded (PCGS, NGC) for maximum resale value.
- Research recent sales to set a competitive price.
- List on auction sites or forums for collector visibility.
8. Final Thoughts: Why Buffalo Nickels Matter
Buffalo Nickels represent one of the most unique and beloved U.S. coin designs. Whether you’re collecting for history, investment, or sheer enjoyment, these nickels offer an exciting challenge and potential value growth.
🔥 Want to learn how to profit from collecting and stacking silver?
👉 Check out The Stacker’s Handbook – Your ultimate guide to precious metals investing & numismatics!
📌 Next Read: Related Articles
🔗 Beginner’s Guide To Numismatics
🔗 The Best Silver Coins for Stacking & Investing
🔗 Junk Silver: The Hidden Treasure in Your Pocket Change
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