The Buffalo Nickel was the first American coin to feature an animal other than an eagle.
Sculptor James Earle Fraser designed it in 1912 (it was released in 1913) to pay tribute to Native American Indian culture and the bison's significant role in it. With the deteriorating number of Bisons in the 1900s, the Buffalo Nickel symbolized their lasting heritage.
Artist James Earle Fraser sculptured Buffalo Nickel, the five-cent coin of the United States Mint, in 1912. The Mint aimed to make American currency attractive, so the coin features a buffalo (reverse) and a lifelike portrait of the Native American Indian (obverse).
Three Natives modeled for the American Indin effigy on the coin's obverse. Before James passed away, he gave the names of two American Indians: Chief Two Moons of the Cheyenne and Chief Iron Tail of the Lakota Sioux. Unfortunately, he couldn't remember the third Native American.
On February 22, 1913, exactly one year after the United States entered the World War of 1912, the first nickels bearing a buffalo design debuted at the National American Indian Memorial's significant ceremonies in Fort Wadsworth, Staten Island, and New York City.
The approval process for the design was delayed for several months in 1912 by the company's arguments with the Hobbs manufacturer. Yet the officials attempted to improve the coins' designs, but these ended up with a worn appearance and indistinct strikes. The date was the earliest erased part on a mended nickel, located on a protruded portion at the bottom of the Indian's face.
The coin was produced mandatorily from 1913 to 1938. On its 25th anniversary in 1938, the Mint, which no longer made the Standing Liberty coin, placed the Jefferson nickel in circulation instead.
The front of the coin shows the side profile of a Native American facing to the right. The term "LIBERTY" is inscribed in small letters at the upper-right corner, and the date is shown at the lower left. Note the intricate texture of the feathers and the man's prominent cheekbones.
The figure on the back of the coin was based on Black Diamond, an American bison living at the Central Park Zoo. The bison is depicted standing on a raised mound, with the words "UNITED STATES OF AMERICA" and "E PLURIBUS UNUM" positioned above it. The phrase "FIVE CENTS" is on a mound beneath the American bison.
The designer and sculptor of the Buffalo Nickel, James Earle Fraser, was born in Minnesota on November 4, 1876. His father was a railroad engineer, and he was among the men who recovered the remains of the 7th Cavalry Regiment at the Battle of Little Big Horn.
Fraser's exposure to Native Americans and the Wild West shaped his sculpting skillset, which is expressed in many of his creations. As a student, he was a promising sculptor at the Art Institute in Chicago and thus was awarded a chance to study further. Later, he created monumental artworks alongside famous sculptor Richard Bock.
In 1912, James Earl Fraser created the Five Cent Indian Head coin to improve the appearance of American coinage for the US Mint. This distinctive coin deviated from the conventional Lady Liberty design, showcasing a lifelike image of a Native American and the first-ever non-eagle animal, a bison on the back.
The Buffalo Nickel—the Indian Head Nickel—was struck from 1913 until 1938. The first coins were issued at the National American Indian Memorial's groundbreaking ceremony on February 22, 1913. They were produced in the US Mint's Philadelphia, Denver, and San Francisco facilities.
It was first released in American coinage during a transitional period characterized by a move toward more artistic and culturally significant designs. However, because of problems with its design, the coin had difficulties in its early years. The design's high relief made striking difficult, accelerating wear, and stacking challenging.
In 1913, the first year of minting, there was no mound beneath the buffalo on the reverse. This design flaw was soon noticed because the word "FIVE CENTS" wore down quickly. The following year, a raised mound was added to protect this inscription.
The coin experienced numerous compositional and design adjustments during its minting. Its existence ended in 1938 when it was replaced by the Jefferson Nickel, which had an entirely different composition and design.
Despite its comparatively short mintage period, the coin is still a treasured specimen among collectors and enthusiasts for its distinctive design and historical significance in American coinage.
New animals and buffalo were added to the 50 State Quarters Program in 1999.
Condition is a significant determinant of Buffalo Nickel value. Some collectors will go to tremendous lengths to obtain these coins because they find it daunting to assemble a complete set. The condition, demand, supply, and mintmark are interconnected in the valuation of Buffalo Nickel.
We have curated a specified list of conditions essential to be known by an investor:
Good: The general design of the coin is outlined, but some parts are weak. Although non-collectors often describe their coins as "Good" condition, these are still heavily worn.
Fine: All seven letters of LIBERTY should be visible with minor wear and tear on the coin.
Extremely Fine: There might be some remnants of mint luster, but the coin has light wear overall.
Uncirculated: Coins have clear and identifiable mintmarks and dates. However, uncirculated coins can be worn if poorly struck and are left in the US Mint for over a century.
The table below accumulates Buffalo Nickel's mintage years from 1913 to 1938, along with the mintmarks, their mintage, and their respective values based on the conditions mentioned above.
| Year | Mintage | Good | Fine | Extra Fine | Uncirculated |
|---|---|---|---|---|---|
| 1913 Type 1 | 30,993,520 | $3.50 - $4.00 | $7.00 - $8.00 | $13.00 - $15.00 | $24.00 and up |
| 1913-D Type 1 | 5,337,000 | $9.00 - $10.00 | $14.00 - $16.00 | $22.00 - $24.00 | $45.00 and up |
| 1913-S Type 1 | 2,105,000 | $28.00 - $30.00 | $35.00 - $38.00 | $45.00 - $50.00 | $95.00 and up |
| 1913 Type 2 | 29,858,700 | $5.00 - $6.00 | $7.00 - $8.00 | $13.00 - $15.00 | $25.00 and up |
| 1913-D Type 2 | 4,156,000 | $65.00 - $75.00 | $110.00 - $120.00 | $130.00 - $140.00 | $210.00 and up |
| 1913-S Type 2 | 1,209,000 | $200.00 - $225.00 | $275.00 - $300.00 | $325.00 - $350.00 | $575.00 and up |
| 1914 | 20,665,738 | $10.00 - $12.00 | $15.00 - $17.00 | $18.00 - $20.00 | $35.00 and up |
| 1914-D | 3,912,000 | $60.00 - $70.00 | $95.00 - $105.00 | $165.00 - $175.00 | $325.00 and up |
| 1914-S | 3,470,000 | $16.00 - $18.00 | $29.00 - $31.00 | $55.00 - $60.00 | $160.00 and up |
| 1915 | 20,987,270 | $3.50 - $4.00 | $4.00 - $5.00 | $16.00 - $18.00 | $35.00 and up |
| 1915-D | 7,569,500 | $12.00 - $14.00 | $27.00 - $29.00 | $75.00 - $80.00 | $185.00 and up |
| 1915-S | 1,505,000 | $30.00 - $35.00 | $60.00 - $65.00 | $185.00 - $200.00 | $425.00 and up |
| 1916 | 63,498,066 | $2.00 - $2.50 | $4.00 - $5.00 | $10.00 - $11.00 | $30.00 and up |
| 1916-D | 13,333,000 | $8.00 - $9.00 | $17.00 - $18.00 | $50.00 - $55.00 | $115.00 and up |
| 1916-S | 11,860,000 | $6.00 - $7.00 | $10.00 - $11.00 | $45.00 - $50.00 | $130.00 and up |
| 1917 | 51,424,029 | $2.00 - $2.50 | $4.00 - $5.00 | $11.00 - $12.00 | $40.00 and up |
| 1917-D | 9,910,800 | $11.00 - $13.00 | $33.00 - $35.00 | $100.00 - $110.00 | $300.00 and up |
| 1917-S | 4,193,000 | $15.00 - $17.00 | $45.00 - $48.00 | $135.00 - $145.00 | $315.00 and up |
| 1918 | 32,086,314 | $2.50 - $3.00 | $4.00 - $5.00 | $18.00 - $20.00 | $75.00 and up |
| 1918-D | 8,362,314 | $12.00 - $14.00 | $40.00 - $43.00 | $135.00 - $145.00 | $315.00 and up |
| 1918-S | 4,882,000 | $8.00 - $9.00 | $33.00 - $35.00 | $100.00 - $110.00 | $450.00 and up |
| 1919 | 60,868,000 | $1.50 - $2.00 | $2.50 - $3.00 | $12.00 - $13.00 | $40.00 and up |
| 1919-D | 8,006,000 | $8.00 - $9.00 | $45.00 - $48.00 | $155.00 - $165.00 | $475.00 and up |
| 1919-S | 7,521,000 | $5.00 - $6.00 | $31.00 - $33.00 | $145.00 - $155.00 | $400.00 and up |
| 1920 | 63,093,000 | $1.50 - $2.00 | $2.50 - $3.00 | $11.00 - $12.00 | $40.00 and up |
| 1920-D | 9,418,000 | $5.00 - $6.00 | $22.00 - $24.00 | $165.00 - $175.00 | $450.00 and up |
| 1920-S | 9,689,000 | $2.00 - $2.50 | $20.00 - $22.00 | $125.00 - $135.00 | $375.00 and up |
| 1921 | 10,663,000 | $2.00 - $2.50 | $4.00 - $5.00 | $30.00 - $32.00 | $85.00 and up |
| 1921-S | 1,557,000 | $40.00 - $45.00 | $120.00 - $130.00 | $600.00 - $650.00 | $1150.00 and up |
| 1923 | 35,715,000 | $1.50 - $2.00 | $2.50 - $3.00 | $10.00 - $11.00 | $40.00 and up |
| 1923-S | 6,142,000 | $3.50 - $4.00 | $17.00 - $18.00 | $165.00 - $175.00 | $425.00 and up |
| 1924 | 21,620,000 | $1.50 - $2.00 | $2.50 - $3.00 | $13.00 - $15.00 | $50.00 and up |
| 1924-D | 5,258,000 | $3.50 - $4.00 | $27.00 - $29.00 | $135.00 - $145.00 | $325.00 and up |
| 1924-S | 1,437,000 | $10.00 - $12.00 | $65.00 - $70.00 | $650.00 - $700.00 | $1500.00 and up |
| 1925 | 35,565,100 | $1.50 - $2.00 | $2.50 - $3.00 | $12.00 - $13.00 | $30.00 and up |
| 1925-D | 4,450,000 | $5.00 - $6.00 | $27.00 - $29.00 | $110.00 - $120.00 | $260.00 and up |
| 1925-S | 6,256,000 | $2.50 - $3.00 | $9.00 - $10.00 | $100.00 - $110.00 | $350.00 and up |
| 1926 | 44,693,000 | $1.50 - $2.00 | $1.50 - $2.00 | $10.00 - $11.00 | $22.00 and up |
| 1926-D | 5,638,000 | $6.00 - $7.00 | $18.00 - $19.00 | $100.00 - $110.00 | $225.00 and up |
| 1926-S | 970,000 | $12.00 - $14.00 | $55.00 - $60.00 | $550.00 - $600.00 | $3600.00 and up |
| 1927 | 37,981,000 | $1.50 - $2.00 | $1.50 - $2.00 | $10.00 - $11.00 | $24.00 and up |
| 1927-D | 5,730,000 | $1.00 - $1.25 | $2.50 - $3.00 | $50.00 - $55.00 | $130.00 and up |
| 1927-S | 3,430,000 | $1.00 - $1.25 | $2.50 - $3.00 | $55.00 - $60.00 | $425.00 and up |
| 1928 | 23,411,000 | $0.50 - $1.00 | $1.25 - $1.50 | $9.00 - $10.00 | $23.00 and up |
| 1928-D | 6,436,000 | $0.75 - $1.25 | $2.50 - $3.00 | $26.00 - $28.00 | $40.00 and up |
| 1928-S | 6,936,000 | $0.75 - $1.25 | $1.50 - $2.00 | $18.00 - $20.00 | $170.00 and up |
| 1929 | 36,446,000 | $0.50 - $1.00 | $1.00 - $1.25 | $9.00 - $10.00 | $28.00 and up |
| 1929-D | 8,370,000 | $0.50 - $1.00 | $1.25 - $1.50 | $20.00 - $22.00 | $45.00 and up |
| 1929-S | 7,754,000 | $0.50 - $1.00 | $1.00 - $1.25 | $9.00 - $10.00 | $35.00 and up |
| 1930 | 22,849,000 | $0.50 - $1.00 | $1.00 - $1.25 | $8.00 - $9.00 | $24.00 and up |
| 1930-S | 5,435,000 | $0.50 - $1.00 | $1.00 - $1.25 | $9.00 - $10.00 | $40.00 and up |
| 1931-S | 1,200,000 | $9.00 - $10.00 | $10.00 - $11.00 | $18.00 - $20.00 | $48.00 and up |
| 1934 | 20,213,003 | $0.50 - $1.00 | $1.00 - $1.25 | $5.00 - $6.00 | $30.00 and up |
| 1934-D | 7,480,000 | $0.50 - $1.00 | $1.50 - $2.00 | $13.00 - $15.00 | $55.00 and up |
| 1935 | 58,264,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $15.00 and up |
| 1935-D | 12,092,000 | $0.50 - $1.00 | $1.00 - $1.25 | $10.00 - $11.00 | $45.00 and up |
| 1935-S | 10,300,000 | $0.50 - $1.00 | $1.00 - $1.25 | $2.00 - $2.50 | $28.00 and up |
| 1936 | 119,001,420 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1936-D | 24,814,000 | $0.25 - $0.50 | $0.75 - $1.00 | $2.00 - $2.50 | $24.00 and up |
| 1936-S | 14,930,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $24.00 and up |
| 1937 | 79,485,769 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1937-D | 17,826,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1937-S | 5,635,000 | $0.25 - $0.50 | $0.75 - $1.00 | $1.50 - $2.00 | $12.00 and up |
| 1938-D | 7,020,000 | $0.75 - $1.25 | $1.25 - $1.50 | $3.00 - $3.50 | $12.00 and up |
The Value of Buffalo nickel is affected by mintmarks that align with unusual or key dates or the presence of mintmarks. Other factors include the coin's condition and market demand and supply.
The mint mark is directly beneath the denomination "FIVE CENTS" on the coin's reverse. The US Mint produced them in three facilities: Denver (D), San Francisco (S), and Philadelphia (no mint mark).
Old coins in pristine condition can fetch great value. Coins in mint condition have a higher value than their face value.
The relationship between a coin's supply and demand determines its value. The demand for rare coins is high, and the supply is low, which results in higher value for the Buffalo Nickel.
The coin's design holds a rich history and great significance in the US, making it highly valued among collectors. Specific key dates of these coins add to their rarity and overall value.
Just 2,105,000 of the San Francisco Mint's Type I coins were produced. Many are well-worn, and the denomination is unreadable due to the design. Out of the three Type I coins, it is the rarest. However, 1913 TYPE 1 Nickels in pristine, uncirculated condition sell for as much as $27,500 on the open market.
The 1913-D Type II is a coin with a semi-key date. Compared to the 1913-D Type 1, fewer Type II were reserved by collectors and speculators. If in uncirculated and pristine condition, this type II coin is worth around $35,000.
With a mintage of just 1,209,000, the 1913 S Type 2 is a rare coin. James Earle Fraser created both of its designs, and it was struck in San Francisco. The bottom of the reverse of the Type II has been redesigned, and the buffalo, originally standing on raised ground, is now on a line or plane. This rare coin in uncirculated condition can sell for $40,000 on the open market.
As of March 2024, a 1914-D in circulation is valued between $45 and $425, while an uncirculated one can fetch as much as $27,500. The grade of the coin is determined by its kind and condition.
The date on this rare coin is strongly doubled. Frequently, the overdate is visible without the need for magnification, particularly on higher-grade coins. Even heavily used coins fetch several thousand dollars, and coins in mint condition fetch more than $60,000.
1918/7-D is one of the rarest in the series, except for a few more recently found varieties. Two hubs from 1917 and 1918 were impressed onto a single working die to create it. The coin features a crisp strike and a light golden-gray patina.
The 1918-D is among the rarest coins in the series, except for a few more recent variations. The 1918-D 8 over 7 type has a potential market value of $37,000 to $350,750. It weighs 5 grams, has a diameter of 21.2 mm, and is composed of 75% copper and 25% nickel.
In conclusion, the Buffalo Nickel symbolizes the multicultural aspect of American society and the growth of American currency. Its design is unique in look and feel and tells the story of Native Americans and their story of survival.
To those who like to hear or read detailed stories behind each coin, its scarcity, historical value, and unique features are considered valuable.
If you want to add this historical legacy to your collection and portfolio, BOLD offers a wide range of silver buffalo rounds in various sizes and gold buffalo coins at the lowest prices. Expand your collection and investing portfolio while honoring American heritage with BOLD today!
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