1937 Buffalo Nickel Value: How Much Is It Worth?

The 1937 Buffalo Nickel holds a special charm in American coin collecting.

Its classic design, with the profile of a Native American on the obverse and an American bison on the reverse, represents an era rich in historical significance.

Collectors are drawn to the unique beauty of this coin, and understanding its value is key.

This guide breaks down what influences the worth of a 1937 Buffalo Nickel, including its condition, mint marks, and intriguing errors like the 3-legged buffalo.

Background of the 1937 Buffalo Nickel

The Buffalo Nickel, also known as the Indian Head Nickel, was minted from 1913 to 1938, capturing the American spirit and symbolizing the country’s heritage.

The 1937 Buffalo Nickel is especially popular as it comes from the end of the series, adding to its collectible appeal.

Sculptor James Earle Fraser created this iconic design that remains one of the most recognizable in American coinage.

Mintages and Rarity of the 1937 Buffalo Nickel

Mintages—how many coins were made—are essential for determining a coin’s rarity. The 1937 Buffalo Nickel was produced in the following quantities:

• Philadelphia (no mint mark): 79,480,000
• Denver (D mint mark): 17,826,000
• San Francisco (S mint mark): 5,635,000

The Philadelphia-minted coins are the most common, while those from San Francisco are the rarest.

In general, lower mintages often mean higher value, as fewer coins in good condition are available on the market.

1937 Buffalo Nickel Value by Condition

A Buffalo Nickel's condition greatly impacts its value. Coins in excellent condition or those that are uncirculated (often called Mint State) tend to fetch higher prices.

Below is a general value guide for the 1937 Buffalo Nickel by mint mark and condition:

Philadelphia (No Mint Mark)

• Good (G-4): $0.50 to $1.00
• Very Fine (VF-20): $1.50 to $3.00
• Extremely Fine (EF-40): $3.00 to $5.00
• About Uncirculated (AU-50): $6.00 to $10.00
• Mint State (MS-60 to MS-65): $20.00 to $40.00

Denver (D Mint Mark)

• Good (G-4): $1.00 to $2.00
• Very Fine (VF-20): $3.00 to $5.00
• Extremely Fine (EF-40): $5.00 to $10.00
• About Uncirculated (AU-50): $15.00 to $25.00
• Mint State (MS-60 to MS-65): $30.00 to $50.00

San Francisco (S Mint Mark)

• Good (G-4): $2.00 to $4.00
• Very Fine (VF-20): $5.00 to $10.00
• Extremely Fine (EF-40): $12.00 to $20.00
• About Uncirculated (AU-50): $25.00 to $40.00
• Mint State (MS-60 to MS-65): $50.00 to $70.00

These values can vary based on collector interest and fluctuations in the coin market.

Key Dates and High-Value Coins for 1937 Buffalo Nickels

The standout coin in the 1937 series is the 1937-D “3-Legged” Buffalo Nickel, which is highly prized due to an unusual error.

This error variety is the result of extensive polishing, which accidentally removed part of the fourth leg on the bison, creating a unique and highly collectible look.

1937-D “3-Legged” Error Value

• Good (G-4): $500 to $700
• Very Fine (VF-20): $900 to $1,500
• Extremely Fine (EF-40): $1,500 to $2,500
• About Uncirculated (AU-50): $3,000 to $5,000
• Mint State (MS-60 to MS-65): $7,000 to $10,000+

This 3-legged error makes the 1937-D Buffalo Nickel one of the most famous and desirable coins in the series.

1937 Buffalo Nickel Errors and Varieties

Errors and varieties make coins even more fascinating and valuable. For the 1937 Buffalo Nickel, here are a few known errors that collectors seek out:

• 1937-D “3-Legged” Error: The most famous error, caused by excessive die polishing that erased part of the bison’s fourth leg. This error alone can add substantial value to the coin.
• Doubled Dies: Some Buffalo Nickels show a doubling effect due to the design being stamped twice. While not as prominent as the 3-legged error, doubled dies can be valuable.
• Off-Center Strikes: These errors, where the design is misaligned, add value and appeal depending on the extent of the offset.

Grading and Evaluating Condition of 1937 Buffalo Nickels

Grading is the process of assessing a coin’s quality. When grading a Buffalo Nickel, there are specific details to observe:

• Native American Profile on the Obverse: Pay attention to details like the cheekbone, hair, and feather. The sharper and clearer these features, the higher the grade.
• Bison Details on the Reverse: Look at the bison’s horn, head, and tail. Coins in higher grades show these details clearly without major wear.
• Luster and Surface Condition: Uncirculated coins should have their original mint luster and no major scratches or marks.

Professional grading services such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) can authenticate and grade coins, providing collectors with a trusted evaluation that can add value.

Factors Influencing the Value of a 1937 Buffalo Nickel

Several factors come into play when determining the value of a 1937 Buffalo Nickel:

• Condition: Coins with minimal wear or those in Mint State conditions hold higher values.
• Market Demand: Collector interest, especially in error varieties or high-grade examples, impacts value.
• Errors and Varieties: The 3-legged Buffalo error is especially desirable and significantly increases the value of a 1937-D Nickel.

Where to Buy or Sell 1937 Buffalo Nickels

There are several popular options for buying or selling 1937 Buffalo Nickels:

• Coin Shops: Local shops often deal in collectible coins and can offer in-person appraisals.
• Coin Shows: Coin shows attract dealers and collectors, allowing you to compare prices and negotiate.
• Online Auctions: Websites like eBay and Heritage Auctions provide platforms to buy or sell coins and to check recent sale prices.
• Numismatic Marketplaces: Websites like PCGS and NGC offer certified coins and often attract experienced collectors.

Before buying or selling, it’s a good idea to check recent prices to ensure a fair transaction.

Collector Tips for 1937 Buffalo Nickels

• Authenticate High-Value Coins: If you have a valuable error or high-grade coin, certification from PCGS or NGC can boost its credibility and value.
• Store Coins Properly: Using protective holders or coin albums can prevent damage from scratches or environmental exposure.
• Research and Stay Updated: Monitor price guides and online auction sites regularly to stay informed on value trends.

Conclusion

The 1937 Buffalo Nickel is a fascinating coin that appeals to collectors for its historical significance and unique design.

The variety of errors and the opportunity to find high-grade examples add even more value and excitement. Whether you're collecting out of passion or for investment, the 1937 Buffalo Nickel offers a rewarding experience in the world of American coinage.

With the right knowledge about mint marks, condition, and rarities, you’ll be well-equipped to appreciate and assess the value of your 1937 Buffalo Nickel collection.

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