Imagine reaching into your pocket and pulling out what seems like just another nickel—only to discover it could be worth more than half a million dollars. That’s exactly what happened with a rare Buffalo Nickel, recently sold at auction for an astonishing $601,000. This unexpected windfall has reignited interest in one of America’s most iconic coins and sparked a nationwide treasure hunt in spare change jars and coin rolls.
Let’s explore what makes this coin so valuable, how to identify rare versions, and what to do if you think you’ve struck numismatic gold.
What Is the Buffalo Nickel?
Also known as the Indian Head Nickel, the Buffalo Nickel was minted from 1913 to 1938. Designed by famed sculptor James Earle Fraser, the coin features a composite Native American portrait on the obverse and an American bison (buffalo) on the reverse—symbols of heritage and the vanishing frontier of the American West.
These nickels were widely circulated for decades, but only a few rare variants have survived in pristine condition, making them highly valuable to collectors.
Why One Buffalo Nickel Sold for $601,000
1. The 1918/7-D Overdate Error
The crown jewel of Buffalo Nickel errors is the 1918/7-D, where a 1917 date was overpunched with 1918. You can clearly see remnants of the “7” beneath the “8” if examined closely—making this one of the most famous minting mistakes in U.S. coinage.
2. Mint State 66 Condition
The record-breaking coin was graded MS66 (Mint State), which means it has no wear, sharp detail, and full original luster. Very few coins from the early 1900s have survived in such exceptional condition, making it incredibly desirable.
3. Rarity and Collector Demand
While millions of Buffalo Nickels were originally minted, few survive in top grades—especially with errors like the overdate. These factors combine rarity with strong collector demand, pushing prices sky-high.
Notable Buffalo Nickels and Their Values
Here are some of the most valuable Buffalo Nickels ever sold:
| Year | Mint Mark | Error/Variety | Grade | Estimated Value |
|---|---|---|---|---|
| 1918 | D | 7 Over 8 (Overdate) | MS66 | $601,000 |
| 1916 | P | Doubled Die Obverse | MS64 | $281,750 |
| 1937 | D | 3-Legged Buffalo | MS66 | $99,875 |
| 1926 | S | Low Mintage | MS65 | $105,750 |
| 1913 | S | Type 2 (Proof) | PR68 | $143,500 |
How to Spot a Valuable Buffalo Nickel
Think you might have a winner in your collection? Here are the key things to look for:
➤ Check the Date and Mint Mark
Rare years include 1913, 1916, 1918, 1926, and 1937, especially with mint marks like “D” (Denver) or “S” (San Francisco). You’ll find the mint mark under “FIVE CENTS” on the reverse.
➤ Look for Error Varieties
- 1918/7-D Overdate – Look closely at the date for signs of overlapping digits.
- 1937-D 3-Legged Buffalo – The front right leg of the buffalo is missing due to a die polishing error.
- 1916 Doubled Die – Doubling is visible on the date and inscriptions on the front.
➤ Evaluate the Condition
Uncirculated or lightly circulated nickels with strong details, luster, and minimal wear are worth significantly more. Use a magnifier to examine wear and strike clarity.
➤ Get It Professionally Graded
If you believe your coin may be valuable, submit it to grading services like PCGS or NGC. They can confirm authenticity and assign a grade, which greatly impacts the coin’s market value.
Everyday Coin, Extraordinary Value
The tale of a $601,000 Buffalo Nickel is more than just a headline—it’s a reminder that treasures can be hiding in plain sight. Whether you’re a seasoned collector or a casual coin hoarder, it’s worth taking a second look at what’s lying around your house or rattling in your car’s cup holder.
Coins that were once exchanged for candy or gas could now fund a home, pay off debt, or kickstart a dream.
FAQs:
What is the most valuable Buffalo Nickel?
The 1918/7-D Overdate in MS66 condition holds the record, selling for $601,000.
Where is the mint mark on a Buffalo Nickel?
Below the words “FIVE CENTS” on the reverse (buffalo side).
Are all Buffalo Nickels valuable?
No, but certain years, mint marks, errors, and well-preserved coins can be extremely valuable.
