The 1937 Buffalo Nickel is an American nickel carrying a value that can be exponentially more than its face value. It gets its name from the American Bison featured on the reverse. The obverse features a Native American man’s portrait.
1937 Buffalo Nickels are made of 75% copper and 25% nickel. They weigh five grams and have a diameter of 21.2 mm. These coins were produced by three Mints in Philadelphia, Denver, and San Francisco respectively.
Buffalo Nickels were first produced in 1913, following the popular “Liberty Head” design. It is believed that Eames MacVeagh, the son of Treasury Secretary Franklin, triggered the need to change the design for the sake of his father’s time in the office.
While the 1937 Buffalo Nickel was praised for its aesthetic appeal, it worried vending machine manufacturers. They claimed that their machines could not distinguish genuine nickels from fake ones. Moreover, the coins’ design would wear off easily, particularly rubbing away the date from the surface.
These issues limited the run of Buffalo Nickels to 25 years. They were discontinued in 1938. So, if you have a 1937 Buffalo Nickel, you have one of the last Buffalo Nickels ever minted.
Artist James Earle Fraser created the design of the 1937 Buffalo Nickel. The obverse side features a right-facing portrait of a Native American man. Over time, many people claimed that the portrait on these coins featured them. It was ultimately concluded that the image was a blend of multiple people inspiring James Earle Fraser for the design.
Along with the portrait, the nickel’s obverse features its date and the artist’s initial “F.” You can also see the inscription “LIBERTY” to the portrait’s right.
Giving the series its name, the American Bison appears on the coin’s reverse. Just like the portrait’s model, there were speculations about the precise animal that inspired the artist’s design.
You can see the inscription “UNITED STATES OF AMERICA” above the American bison on the nickel’s reverse. Below the animal lies the motto “E PLURIBUS UNUM. You can see the denomination and mint mark (if present) toward the coin’s bottom.
These coins were minted in Philadelphia, Denver, and San Francisco. Here is a quick guide to the 1937 Buffalo Nickel value for different coins:
The nickels produced by the Philadelphia Mint carry no mint marks. The facility produced almost 79.5 million Buffalo Nickels in 1937. These no-mint mark coins are some of the most widely available coins, especially in the XF (extremely fine) and MS (mint state) grades.
This means that you can get yourself an XF-graded nickel without spending a fortune. You can buy an XF45 1937 Buffalo Nickel from the Philadelphia Mint for $9. An MS60 grade of the same nickel is valued at $32.
Going further up the grading scale, you can get an MS67 and MS67+ coin for $275 and $925 respectively. You can see a sharp increase in these nickels’ value from here. For example, you can get $10,500 for a 1937 Philadelphia Mint Buffalo Nickel graded MS68. The value of extremely rare MS68+ nickels can go as high as $30,000 apiece.
5c-msr The 1937 Buffalo Nickels produced at the Denver Mint carry a “D” mint mark. This facility minted almost 18 million coins in 1937. The availability of these nickels is significantly lower than that of the Philadelphia Mint coins. However, there isn’t much difference between the values for most grades.
For example, a 1937 D Buffalo Nickel graded XF45 can give you $9 and a coin graded MS60 can give you $32. However, there is an impressive increase in the values for higher grades.
A 1937 D Buffalo Nickel graded MS65 and MS68 can give you $110 and a whopping $20,000 respectively!
5c-msr The Buffalo Nickels produced by the San Francisco Mint carry the “S” mint mark. The Mint produced only 5,635,000 nickels in 1937. Until the MS64+ grade, the value of these nickels is almost the same as the other two coin types.
Further, a 1937 S Buffalo Nickel graded MS65, MS66, and MS67 can get you $110, $200, and $800 respectively. The coins graded MS68 are valued at $18,000 apiece.
The Philadelphia Mint also produced proof nickels in 1937. These coins are struck using polished blanks and better dies. The Mint produced only 5,769 of these nickels, crafted exclusively for collectors.
A 1937 proof Buffalo Nickel graded AU58 (the lowest available grade) is valued at $475. Further, the nickels graded PR 60 and PR65 can give you $775 and $1,350 respectively.
Here is an interesting video guide explaining the 1937 Buffalo Nickel value:
Let us now have a look at what determines the value of these Buffalo Nickels:
Most coin dealers and collectors rely on the third-party grading services PCGS and NGC while dealing in these coins. These services assign specific grades to coins depending on their condition. The 1937 Buffalo Nickels with low circulation and better quality are valued higher than the rest.
In most cases, Buffalo Nickels with low circulation numbers are valued highly due to their limited availability. Along with better quality, this is the key reason for proof coins to be valued more than the “business strikes” carrying the same grade.
If more investors and collectors buy a specific 1937 Buffalo Nickel, its value will increase in the bullion market. Market forces of demand and supply keep fluctuating the value of these coins.
Mintage errors make some 1937 Buffalo Nickels rare, automatically increasing their market value. Three-legged buffalo design and D over D buffalo design are two common errors found in these nickels. Both these errors are found in the coins produced at the Denver Mint.
If you are an avid coin collector, you can buy exclusive 1937 Buffalo Nickels for your collection and sell special coins from your collection for a fortune. Whether you want to invest or sell, make sure you engage with trusted dealers. These professionals not only give you a platform to deal in these coins but also provide you with valuable information that makes your decisions easier. If you are looking for more details on Buffalo Nickel Value from 1913-1938, check out this detailed blog.
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