Buffalo Nickel Value: The world of coin collecting is full of fascinating stories, and one of the most intriguing involves a humble coin that has managed to gather significant value over the years. Enter the Buffalo Nickel. This iconic coin, which was minted from 1913 to 1938, may seem like just a piece of old change to many, but for collectors, it holds a special place in history and is highly sought after. Some Buffalo Nickels, especially rare ones, can be worth hundreds or even thousands of dollars. What makes the Buffalo Nickel even more interesting is the occasional story of someone discovering a long-forgotten coin hidden in a piggy bank or tucked away in a drawer for decades, only to realize it is worth far more than they imagined. One such discovery recently captured the public’s attention: a Buffalo Nickel that had been hidden in a piggy bank for 30 years and turned out to be worth a small fortune.
Let’s dive into the history of the Buffalo Nickel, explore what makes certain examples valuable, and take a closer look at this particular coin that was tucked away for decades before its remarkable discovery.
The History of the Buffalo Nickel
The Buffalo Nickel, also known as the Indian Head Nickel, was designed by James Earle Fraser and first released in 1913. The coin features a Native American on the obverse, and a majestic buffalo on the reverse, symbolizing the country’s connection to its Western frontier and Native American heritage. The coin was first introduced as a replacement for the Liberty Head Nickel, and it quickly became one of the most iconic designs in American coinage.
The Buffalo Nickel was minted from 1913 until 1938, and during that time, it became known for its distinctive design and high level of detail. The coin was struck in 75% copper and 25% nickel, giving it a distinctive look and feel. The design was so well-received that it remains one of the most beloved U.S. coins to this day. Despite being produced in large quantities, certain Buffalo Nickels are incredibly rare and sought after due to minting errors, unique features, or their historical significance.
What Makes the Buffalo Nickel So Valuable?
The Buffalo Nickel is a highly collectible coin, but like all coins, its value depends on several key factors. If you’ve ever wondered why some Buffalo Nickels are worth more than others, here are a few things to consider when evaluating their value:
1. Rarity and Mintage
One of the most important factors in determining the value of a Buffalo Nickel is its rarity. Some years had higher mintages than others, meaning there were more of those coins produced and released into circulation. Conversely, coins from years with lower mintages are naturally rarer and more valuable to collectors. For example, the 1913-S Type 2 Buffalo Nickel is particularly rare because only around 1 million were minted, making it highly sought after.
2. Condition and Grade
The condition of a coin plays a significant role in determining its value. Coins that have been well-preserved and remain in excellent condition are worth far more than those that have been heavily worn or damaged. The grading of a coin is typically done on a scale from 1 to 70, with higher numbers indicating better condition. A Buffalo Nickel in uncirculated condition, meaning it has never been used in commerce, can be worth much more than one that has been circulated for decades.
3. Minting Errors
Minting errors can make a coin extremely valuable. Buffalo Nickels with double strikes, misprints, or off-center designs are considered errors, and these unique coins are often worth far more than regular examples. Minting mistakes occur when the dies used to strike the coin are misaligned or malfunction in some way, leading to a coin with a distinctive flaw. These errors are relatively rare, so they are highly desirable among collectors.
4. The Role of the Year
Certain years are more valuable than others. For instance, the 1937-D “Three-Legged Buffalo Nickel” is one of the most famous and valuable Buffalo Nickels due to a significant error where one of the buffalo’s legs was inadvertently missing. This rare mistake has made the 1937-D Three-Legged Buffalo Nickel one of the most sought-after coins in the series.
The $3,000 Buffalo Nickel Hidden in a Piggy Bank for 30 Years
In a remarkable twist of fate, a coin that had been hidden in a piggy bank for 30 years recently came to light and turned out to be worth an astonishing amount of money. The coin in question was a 1913 Buffalo Nickel, and what made it so special was its remarkable condition and rarity.
The coin had been placed in a piggy bank by a family decades ago and forgotten over time. The piggy bank was eventually found, and the family discovered the Buffalo Nickel nestled among a few other coins that had long since lost their value. At first glance, it appeared to be just another old coin from the early 20th century, but after further inspection, it was clear that it was no ordinary Buffalo Nickel.
Upon being appraised by a professional coin dealer, it was revealed that the coin was in almost perfect condition—much better than most Buffalo Nickels from that era. It was a 1913 Type 1 Buffalo Nickel, a rare version of the coin that had been produced in limited quantities. Its condition was what made it so valuable. Coins from this period, especially those in such remarkable shape, are often worth thousands of dollars, but this coin’s particular combination of rarity and pristine condition pushed its value even higher. The final appraisal came in at around $3,000, making it a surprising find after sitting unnoticed in a piggy bank for 30 years.
The discovery of this coin serves as a reminder that coins often hold hidden value, and that a long-forgotten coin from the past can sometimes be worth a small fortune. For the family who found it, it was a thrilling moment of discovery that turned an ordinary piggy bank into an unexpected treasure chest.
Other Famous Buffalo Nickel Discoveries
While the $3,000 Buffalo Nickel found in the piggy bank is certainly a remarkable story, it is far from the only instance of a valuable coin being discovered in an unexpected place. Throughout the years, many collectors have stumbled upon rare and valuable Buffalo Nickels hidden in old jars, boxes, and drawers. These discoveries are often the result of coins being stored in places where they were forgotten and left untouched for decades.
For instance, in 2015, a group of Buffalo Nickels was discovered hidden in an old tin box in a family attic. Among the collection was a 1913-S Buffalo Nickel in excellent condition, which eventually sold for more than $20,000 at auction. The coins had been passed down through several generations, and their value had only increased with time. This is a prime example of how old coins, especially those from iconic series like the Buffalo Nickel, can gain significant value if they are well-preserved.
Similarly, in 2017, a collector found a 1937-D Three-Legged Buffalo Nickel in a small collection of coins inherited from a relative. This error coin, known for its missing buffalo leg, fetched a price of over $50,000, demonstrating just how valuable a simple mistake in minting can be.
How to Spot Valuable Buffalo Nickels
If you have some Buffalo Nickels tucked away in an old jar or a drawer, it’s worth taking a closer look at them. While most Buffalo Nickels are worth only a few dollars, there are certain things you can look for to help identify rare and valuable coins.
- Check for Minting Errors: As mentioned earlier, certain errors, such as double strikes or missing details, can significantly increase the value of a coin. Examine the buffalo and the Native American’s profile closely to see if there are any irregularities in the design.
- Inspect the Condition: The better the condition, the higher the value. Coins that show little to no wear and have sharp details are worth much more than those that are heavily worn.
- Look for Rare Years: Some years, such as 1913, 1937, and 1938, are rarer than others. If you have a coin from one of these years, it might be worth more than the average Buffalo Nickel.
- Get an Appraisal: If you think you’ve found a valuable Buffalo Nickel, it’s always a good idea to have it appraised by a professional coin dealer or numismatist. They can provide you with an accurate value and help you understand whether the coin is a rare find.
Conclusion
The discovery of a Buffalo Nickel hidden in a piggy bank for 30 years is a testament to the enduring value of these historic coins. While most Buffalo Nickels are worth just a few dollars, certain rare examples—especially those in excellent condition or with minting errors—can fetch significant amounts at auction. Whether you’re an avid coin collector or just happen to have a few old coins tucked away, it’s worth taking a closer look to see if you might have a hidden treasure. Who knows? That old coin you thought was nothing more than pocket change could turn out to be worth a small fortune.
