The Buffalo Nickel, also known as the Indian Head Nickel, is one of the most iconic coins in American numismatics. Minted from 1913 to 1938, it features a striking design that celebrates Native American heritage and the American bison. While most Buffalo Nickels are common and circulate at modest values, certain rare varieties and minting errors have made some examples worth extraordinary amounts. In 2026, one legendary Buffalo Nickel has been valued at $6.1 million, capturing the imagination of collectors worldwide.
History of the Buffalo Nickel
The Buffalo Nickel was designed by James Earle Fraser, a sculptor who wanted to create a coin that reflected America’s frontier spirit. The obverse features a Native American profile, while the reverse depicts a powerful buffalo, believed to be modeled after “Black Diamond,” a bison at the Central Park Zoo. The coin was introduced in 1913 and remained in circulation until 1938, when it was replaced by the Jefferson Nickel.
Design Features
- Obverse: Native American portrait.
- Reverse: American buffalo standing on a mound (Type I) or a flat plain (Type II).
- Mint Marks: D (Denver), S (San Francisco), and no mint mark for Philadelphia.
- Composition: 75 percent copper, 25 percent nickel.
Why Buffalo Nickels Can Be Valuable
Most Buffalo Nickels are common, but certain factors make some worth millions:
- Rare minting errors such as double dies or overdates.
- Low‑mintage issues from specific years.
- Proof coins struck for collectors.
- Exceptional condition certified by professional grading services.
- Historical significance tied to early 20th‑century coinage.
Rare Varieties and Mint Marks
1913 Type I Buffalo Nickel
The first design featured the buffalo standing on a raised mound. It was quickly modified to Type II, making Type I coins collectible.
1913-S Type II Buffalo Nickel
San Francisco produced only 1.2 million of these coins, making them scarce and valuable.
1916 Doubled Die Obverse
This error shows dramatic doubling in the date and lettering, making it one of the most famous Buffalo Nickel varieties.
1918/7-D Overdate
A Denver issue where the date was struck over a previous year. Extremely rare and highly prized.
1921-S Buffalo Nickel
Low mintage of just over one million coins, making it a key date for collectors.
1937-D Three‑Legged Buffalo
One of the most famous error coins, where the buffalo appears to have only three legs due to a die polishing mistake.
Legendary Auction Example
One extraordinary Buffalo Nickel has been valued at $6.1 million, making it one of the most legendary coins in numismatic history.
Value Chart
| Coin | Description | Approximate Value Range |
|---|---|---|
| 1913 Type I | First design issue | $20 – $500+ |
| 1913-S Type II | Low mintage | $500 – $10,000+ |
| 1916 Doubled Die | Dramatic doubling | $5,000 – $200,000+ |
| 1918/7-D Overdate | Rare variety | $10,000 – $350,000+ |
| 1921-S | Low mintage | $100 – $10,000+ |
| 1937-D Three‑Legged | Famous error | $500 – $20,000+ |
| Legendary Auction Example | Exceptional rarity | $1,000,000 – $6,100,000+ |
Collecting Tips
- Always check mint marks carefully, as they can dramatically affect value.
- Proof and error coins are more valuable than circulation strikes.
- Use magnification to spot doubling or unusual features.
- Store coins in protective holders to preserve condition.
- Consider professional grading to authenticate rare varieties.
Key Highlights
- The Buffalo Nickel was minted from 1913 to 1938 and remains a popular collectible.
- Rare varieties include the 1916 Doubled Die, 1918/7-D Overdate, and 1937-D Three‑Legged Buffalo.
- Errors and low‑mintage issues can make coins worth thousands.
- One legendary Buffalo Nickel has been valued at $6.1 million in 2026.
- Condition, rarity, and mint marks are the most important factors in determining value.
Final Words
The Buffalo Nickel is more than just a coin; it is a tribute to America’s frontier spirit and a masterpiece of numismatic design. While most examples are worth only modest amounts, rare varieties and high‑grade coins can be worth thousands, even millions. For collectors, the thrill of discovering one of these treasures is unmatched. Whether you are just beginning your coin collecting journey or are an experienced numismatist, Buffalo Nickels offer both historical significance and the excitement of hidden treasures that continue to inspire admiration in 2026 and beyond.
