Understanding the History of Buffalo Nickels
Buffalo nickels, also known as Indian Head nickels, were minted from 1913 to 1938. Designed by James Earle Fraser, they depict a Native American on the obverse and an American bison on the reverse. This design aimed to celebrate the spirit of America. Fraser used real-life models for his designs. On the obverse, he combined features from several Native American chiefs, including Iron Tail and Two Moons. On the reverse, the bison was modeled after Black Diamond, a bison from the Bronx Zoo.
Key Dates and Varieties
Collectors often seek specific dates and varieties within the buffalo nickel series. The 1913 nickel, known for both Type 1 and Type 2 designs, stands out due to changes in the reverse design. Type 1 nickels feature the bison on a raised mound, while Type 2 nickels place the bison on a flat plain. Other significant years include 1914, 1918, and 1937 due to mintage numbers and errors. The 1914-D and 1926-S are known for their low mintages. The 1937-D, famous for the three-legged bison variety from a minting error, is especially prized by collectors.
Grading Buffalo Nickels
Grading assesses a coin’s condition. Buffalo nickels are graded on a scale from Poor (P-1) to Mint State (MS-70). Key features include the legibility of the date and the details on the Native American’s hair and the bison’s horn. Circulated coins usually display wear, making the date hard to read. Uncirculated coins retain their original mint luster and detail. A certified grading can significantly impact a coin’s value. Professional services such as PCGS and NGC offer reliable grading and encapsulation.
Determining Value
The value of a buffalo nickel depends on its date, mint mark, condition, and rarity. Common dates in lower grades may fetch only a few dollars. Scarce dates or well-preserved coins can be worth much more. For instance, the 1924-D nickel can reach significant prices in higher grades. The three-legged 1937-D, depending on its condition, can command several thousand dollars. Market demand also influences prices. Coins in high demand often see their values rise.
Identifying Mint Marks
Buffalo nickels were minted in Philadelphia, Denver, and San Francisco. The mint mark, indicating where a coin was produced, is located on the reverse under the denomination. Philadelphia did not use a mint mark, so absence of a mark reveals its origin. Denver coins bear a D, while San Francisco coins have an S. Collectors often compare mint mark variations as part of their numismatic interest.
Buying Buffalo Nickels
Buffalo nickels can be purchased from a variety of sources. Coin shops, online marketplaces, and auctions are popular options. Local coin shows also offer opportunities to find unique pieces. When buying, it’s crucial to consider the reputation of the seller. Always look for guarantees of authenticity and fair return policies. Certified coins carry a higher level of trust due to their professional evaluation.
Preservation and Care
Preserving buffalo nickels ensures their longevity. Proper storage involves using coin holders or albums to prevent damage. Avoid exposing coins to moisture and chemicals that could cause tarnishing. Handling coins carefully, with clean hands or gloves, prevents adding skin oils that can degrade surfaces. Over time, a carefully maintained collection retains its value and appeal.
Investing in Buffalo Nickels
Buffalo nickels can be a rewarding investment. Their historical significance and enduring popularity contribute to stable demand. While investing, focus on rarity and condition. Buying coins with verified grades and well-documented authenticity reduces risks. Keeping track of market trends helps in making informed purchasing decisions. Over time, well-chosen coins may appreciate in value.
The Appeal of Collecting
Collecting buffalo nickels offers more than financial potential. It connects enthusiasts to history and art. Each coin tells a story of its time and place. Collectors often find pleasure in hunting for rare dates, researching mint errors, or completing sets by date and mint mark. Sharing collections with fellow enthusiasts can lead to new discoveries and lasting relationships.