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. Below is a comprehensive look at the Buffalo Nickel: its design, history, notable varieties, tips for collecting, and how to identify key dates and rarities.
1) Origins: Why the Buffalo Nickel Was Created
The Move Away from the Liberty Head Nickel
- Prior to 1913, the U.S. Mint struck Liberty Head (or V) Nickels.
- Many felt these coins, in circulation since 1883, looked outdated and lacked the artistic flair emerging in other national coinage redesigns.
A Push for Art in Coinage
- The early 20th century was a renaissance for American coin design.
- Influential figures like President Theodore Roosevelt championed the idea of more beautiful, representative currency, commissioning artists who brought fresh perspectives to the nation’s coins.
James Earle Fraser’s Revolutionary Design
- Renowned sculptor James Earle Fraser proposed a nickel that celebrated America’s heritage.
- Fraser’s background growing up in the Midwest influenced his depiction of a Native American on the obverse and a bison (colloquially called a “buffalo”) on the reverse.
- The resulting coin encapsulated a distinctly American identity, rooted in both indigenous culture and the nation’s frontier past.
2) Design Features: A Closer Look
The Obverse: Composite Native American Portrait
- Contrary to popular belief, the Native American profile is not one individual but likely a composite based on at least three real tribal chiefs: Iron Tail (Sioux), Two Moons (Cheyenne), and possibly Big Tree (Kiowa) or another figure.
- Fraser merged these features to create a singular, stoic face symbolizing the proud heritage of Native American peoples.
The Reverse: The American Bison
- Often referred to as a “buffalo,” the animal is actually a North American bison.
- Fraser is said to have used a bison named “Black Diamond” from the Bronx Zoo in New York as his primary model, though some details differ from Black Diamond’s exact appearance.
- The coin reads “FIVE CENTS” near the bottom edge, with the bison standing on a raised mound (1913 Type 1) or on a recessed line (1913 Type 2 onward).
Notable Inscription Details
- “LIBERTY” appears in the upper-right quadrant on the obverse, sometimes lightly struck, leading to quick wear in circulation.
- “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” flank the buffalo on the reverse, reinforcing national identity.
3) Minting History and Variations
1913: Type 1 vs. Type 2
- Type 1 (Raised Mound): Early 1913 coins showed the bison on a raised mound inscribed with “FIVE CENTS.” Unfortunately, the design wore down too easily in circulation, quickly obscuring the denomination.
- Type 2 (Recessed Line): Later in 1913, the mound was flattened, and “FIVE CENTS” was placed in a recessed area. This small adjustment improved durability, forming the standard design for subsequent years.
Mints Involved
- Philadelphia (no mint mark)
- Denver (D)
- San Francisco (S)
All three mints struck Buffalo Nickels between 1913 and 1938, though certain years saw lower production at particular mints, creating key dates and semi-keys.
The End of an Era
- Production ran until 1938, when the Jefferson Nickel replaced the Buffalo design.
- Frequent complaints about rapid wear, coupled with the drive for a modern coin, led to this retirement. However, the Buffalo Nickel’s legacy remains strong among collectors to this day.
4) Key Dates and Rarities
While every Buffalo Nickel holds some interest due to its unique design, a few dates stand out for their scarcity or unusual circumstances:
- 1913-S Type 2
- Mintage: ~1.2 million
- Its very low production figure and being part of the first-year transition make this an essential key date.
- 1914-D
- Though not extremely rare, better grades are tough to find and command a premium.
- 1918/7-D Overdate
- A famous error in which the “7” wasn’t fully removed before punching an “8.”
- Genuine examples are highly sought after, often fetching thousands depending on condition.
- 1921-S
- Low overall mintage of ~1.5 million. Circulated examples can be found, but uncirculated coins are particularly scarce.
- 1926-S
- One of the lowest mintages in the Buffalo Nickel series (~970,000). High-grade pieces are rare and can be very expensive.
- 1937-D 3-Legged
- A mint error that removed the buffalo’s front right leg. This legendary variety consistently brings strong auction prices.
5) Common Challenges: Wear and Dateless Nickels
Rapid Circulation Wear
- Buffalo Nickels were notorious for losing their dates quickly.
- Raised features, like the Indian’s cheekbone and the date, wore down rapidly in commerce, leading to the scourge of dateless nickels.
Restoring Dates
- Some collectors or dealers use chemicals to “raise” the date on worn nickels—known as “acid restoration.”
- While this can help identify a coin’s date or mintmark, it drastically lowers numismatic value. Restored-date nickels (often labeled “No Date” or “Acid Date”) are generally only worth small premiums if they reveal a key date.
Avoiding Altered Coins
- Mintmark additions or manipulations can fake key dates (e.g., forging an “S” on a common 1913 Type 2).
- Comparing suspected coins to genuine reference images is essential. Seek professional grading if high value is at stake.
6) Collecting Buffalo Nickels: Strategies and Tips
1. Date-and-Mint Set
- Ambitious collectors attempt to gather one of each date and mintmark combination (Philadelphia, Denver, San Francisco).
- The challenge: tackling key dates like 1926-S, 1913-S Type 2, and the 1918/7-D overdate, which can be costly or difficult to find.
2. High-Grade Type Collection
- If you prefer quality over quantity, aim for a single example of each major design change (Type 1 and Type 2) in a high grade (AU or MS).
- This approach focuses on eye appeal and the artistry of the coin, rather than completing every date.
3. Error and Variety Focus
- Some collectors specialize in errors, such as the 1937-D 3-Legged or minor double-die reverses.
- Such coins offer a niche interest with potentially high returns if the error is dramatic and well-documented.
4. Full Horn or Full Strike Enthusiasm
- “Full Horn” references a Buffalo Nickel where the bison’s horn is fully detailed—an easy visual indicator of minimal wear or a solid strike.
- Coins exhibiting full detail on the Indian’s braid and the buffalo’s tail/horn often command premiums.
7) Grading and Storage
Grading Overview
- Independent services like PCGS, NGC, and ANACS can authenticate, grade, and encapsulate Buffalo Nickels.
- Higher-end pieces, especially key dates or error coins, benefit significantly from professional certification, ensuring authenticity and often boosting sale prices.
Storage Considerations
- Buffalo Nickels are made of 75% copper and 25% nickel, which can tarnish or corrode if exposed to moisture or chemicals.
- Use coin flips, capsules, or albums with archival-quality materials. Avoid PVC-based plastics that can harm surfaces over time.
Cleaning Warnings
- Never clean or polish a Buffalo Nickel. Scrubbing or chemical dips strip away patina and natural detail, slashing its collectible worth.
8) Buying and Selling: Market Insights
Where to Buy
- Local coin shops, national coin shows, and reputable online dealers often carry Buffalo Nickels.
- Auction sites (e.g., eBay, Heritage Auctions) can yield finds but require careful vetting—check seller ratings and request clear images or certifications for pricier coins.
Pricing Factors
- Rarity (mintage and survival rate), condition (graded vs. raw), and specific varieties (like overdates) most influence price.
- Eye appeal—deep luster, minimal marks, strong detail—can mean two coins with the same grade sell for different amounts.
Selling Tips
- If you own a top-tier Buffalo Nickel, consider professional grading before listing.
- Present coins in quality holders with thorough descriptions and high-resolution photos.
- Research recent sales of similar coins to set competitive asking prices.
9) Frequently Asked Questions
Q1: Can dateless Buffalo Nickels be valuable?
A: Usually not, unless restoration reveals a key date. Even then, “acid date” coins carry steep discounts compared to naturally legible examples.
Q2: Do all Buffalo Nickels show the designer’s initials?
A: Yes, James Earle Fraser’s initial “F” is typically found below the date on the obverse. On heavily worn coins, it might be faint or gone entirely.
Q3: Are there proof Buffalo Nickels?
A: Official proof Buffalo Nickels exist, though they are rare. Proofs from 1913 to 1916 are extremely valuable, often commanding high four- to five-figure sums if in good condition.
Q4: Is the 1938-D the last Buffalo Nickel?
A: Yes, 1938 Denver was the final year of issue, with only 7 million minted. After that, the Jefferson Nickel took over.
Conclusion
Buffalo Nickels mark an era of American coinage imbued with frontier romance and bold artistry. From the iconic Native American portrait to the majestic bison on the reverse, these coins continue to captivate generations of collectors. Whether you’re on the hunt for the 1913-S Type 2, the elusive 1926-S, or the fabled 1918/7-D overdate, there’s always a new challenge waiting in the Buffalo Nickel series.
Key Takeaways
- Look for full detail on the Indian’s braid and the buffalo’s horn to gauge strike quality and wear.
- Major rarities include the 1913-S Type 2, 1926-S, and famous errors like the 1937-D 3-Legged nickel.
- Resist cleaning, store properly, and consider professional grading for key dates or high-grade coins.
- High-grade or rare Buffalo Nickels remain highly sought after, with values often rising over time.
Embrace the opportunity to build a piece of American history one nickel at a time. With patience, knowledge, and a keen eye for detail, your Buffalo Nickel journey can be as rewarding as it is enjoyable. Happy collecting!
