Did you know the first Buffalo nickel was distributed during a groundbreaking ceremony held at Fort Wadsworth, Staten Island, New York, for the National American Indian Memorial? Just the year before, in 1913, sculptor James Earle Fraser created the coin's design.
The fact that the 1913 Buffalo nickel comes in six distinct varieties is among its most fascinating features. These are made up of two distinct coin designs that were produced by three US minting facilities. A 1913 Buffalo nickel's value can vary significantly based on its type, manufacturing location, and state.
Type I and Type II Buffalo Nickels, popularly referred to as Indian Head Nickels, were struck in 1913. This resulted from the nickel's (Type I) initial public backlash in March 1913.
The Type I coin has the words "FIVE CENTS" on the side of the mound the buffalo stands on, while the Type II coin has the mound partially cut away to create an exergue for the words "FIVE CENTS".
Additionally, the words "FIVE CENTS" were quickly worn because they were engraved on a raised mound. This prompted the chief engraver at the time, Charles Barber, to recommend certain changes to James Fraser, the designer.
The 1913 Buffalo Nickel was produced in three distinct minting locations, including the Denver, San Francisco, and Philadelphia mints. As a result, the Buffalo nickel coins from 1913 varied.
30,992,000 1913 type I buffalo nickels were produced by the Philadelphia Mint. There was no mint mark on these nickels. Since there were so many of them, even in mint condition, they are still easily accessible today.
Coins of this variety in average grade can be purchased for $5 to $37.50. On the other hand, a few uncommon mint state 1913 type I buffalo nickels might fetch up to $27,500.
There were 29,857,186 1913 type II buffalo nickels produced by the Philadelphia Mint. It is less common for these Type 2 coins to have severely damaged dies and die clashing. Among the variations are highly desirable double dies for the front and back.
1913 TYPE 2 Nickels in perfect, uncirculated condition can fetch up to $8750 on the open market.
The Denver mint produced only 5,337,000 1913 type I buffalo nickels. Because of this, these coins are still rare today. But because they were the first of their kind, they are still in great demand.
You can typically purchase these coins in average-grade condition for $8 to $67. But a flawless rare find could set you back as much as $30,000. Beneath the words "FIVE CENTS", these coins bear a "D" mint mark.
This mark could be found beneath the letters "E" at the end of the first word and "C" at the beginning of the second.
There were 4,156,000 1913 type II buffalo nickels produced by the Denver Mint. These coins have the same "D" mark as their counterparts in type I. You'll pay between $58 and $275 for a circulated one today.
High-grade pristine ones can cost up to $35,000 because they are rare.
There were 2,105,000 1913 type I buffalo nickels produced by the San Francisco Mint. Under the words "FIVE CENTS", there was a mint mark of "S" on each of these coins. This was positioned in between the first word's final "E" and the second word's initial "C."
These typically cost between $29 and $125, and they are rare these days. They can cost up to $15,000 in mint condition.
There were 1,209,000 1913 type II buffalo nickels produced by the San Francisco Mint. They shared the same type I counterparts' "S" mint mark. Collectors like these coins, and the higher the grade, the rarer they become.
When circulated, their typical cost ranges from $128 to $825. 1913 type II "S" buffalo nickels that are uncirculated can fetch up to $40,000.
1913 Buffalo Nickel Varieties | Mint & Mint Mark | Buffalo Nickel Value (pristine and uncirculated condition) |
---|---|---|
1913 Buffalo Nickel TYPE 1 | Philadelphia (no mintmark) | $27500 |
1913 Buffalo Nickel TYPE 2 | Philadelphia (no mintmark) | $8750 |
1913 Buffalo Nickel D TYPE 1 | Denver (D) | $30000 |
1913 Buffalo Nickel D TYPE 2 | Denver (D) | $35000 |
1913 Buffalo Nickel S TYPE 1 | San Francisco (S) | $15000 |
1913 Buffalo Nickel S TYPE 2 | San Francisco (S) | $40000 |
The surface of these coins is important to consider when grading them because many full-luster pieces lack the rounded relief detail on the tail fringe or the high points of the horn. On weakly struck pieces, the date and LIBERTY will typically be faint.
The hair near the part and the high point of the Indian's cheekbones are the parts of the coin that wear the fastest. The first places to show wear on the reverse are the horn, the tail fringe, and the bison's hip.
A 1913 Type 1 Buffalo nickel in MS68+ condition has a record auction value of $79,313. As of April 22, 2024, PCGS estimates the value of a Proof specimen in PR68 condition, having graded 11 examples of the 1913 Type 1 Buffalo nickel.
Conversely, top PCGS-certified Type 1 Buffalo Nickel Proofs have recently sold for between $80,000 and $90,000.
Uncirculated 1913 Buffalo nickels can fetch as much as $27,500, while circulated coins are valued between $5 and $37.50. Collectors use condition, date, and mintmark to determine the value of Buffalo nickels. Wear and detail clarity should be the primary grading criteria.
The 1913 Buffalo nickel is a historical rarity and a collector's dream come true. Collectors all over the world desire this coin because of its recognizable design and intriguing history. Every coin has a unique story to tell, ranging from its beginnings at the National American Indian Memorial ceremony to the six distinct varieties that were minted in 1913 across various US facilities.
There isn't much more to consider when assigning a value to a coin such as the 1913 Buffalo Nickel than its grade and condition. Collectors are willing to pay top dollar for pieces that have been well-preserved over time, as these are the most sought-after. If you find one of these coins, find out its value from a coin expert before selling it and proceed accordingly.
If you want to add the historical significance of these Buffalo Nickels to your collection, rest assured with BOLD’s wide collection of Buffalo coins and rounds from various esteemed mints. We offer gold and silver Buffalo coins and rounds at the lowest prices. Get yours today!
Information and image sources: PCGS, NGC. Find more insights on precious metals and rare coins in our BOLD Precious Metals Blogs section.