The 1937 Buffalo Nickel is one of the most iconic coins in American history. Struck by the U.S. Mint as part of the popular Buffalo Nickel series, this coin is revered for its unique design, historical significance, and rarity.
Whether you’re a seasoned numismatist or a casual collector, understanding the importance of the 1937 Buffalo Nickel is crucial. In this article, we will delve into its historical background, specifications, design features, rarity, and current market trends.
Historical Background of the 1937 Buffalo Nickel
The Buffalo Nickel was first introduced in 1913 and produced until 1938, designed by James Earle Fraser. This coin was part of a new effort to replace the Indian Head Nickel.
In 1937, the Buffalo Nickel was still being struck at the Philadelphia, Denver, and San Francisco mints. The 1937 issue marked the tail end of the Buffalo series, which would be replaced by the Jefferson Nickel in 1938.
However, the 1937 Buffalo Nickel holds particular significance due to its relatively low mintage compared to other years in the series.
Despite not being the rarest coin in the Buffalo Nickel lineup, the 1937 issue remains highly desirable due to its striking design, scarcity in higher grades, and increasing popularity in the collector market.
Specifications and Design Features
The 1937 Buffalo Nickel, like the rest of the series, is composed of 75% copper and 25% nickel. The coin features a diameter of 21.2 mm and weighs 5 grams. It has a plain edge, with no reeding, which makes it different from other coins in its time.
The obverse design is a right-facing profile of a Native American chief, a composite of three Native American leaders, while the reverse features a buffalo standing on a small patch of land, representing the great American bison.
| Feature | Details |
|---|---|
| Mintmark | None (Philadelphia), D (Denver), S (San Francisco) |
| Year of Issue | 1937 |
| Denomination | 5 Cents |
| Alloy | 75% Copper, 25% Nickel |
| Weight | 5.0 g |
| Diameter | 21.2 mm |
| Edge | Plain |
| Obverse Design | Native American chief (James Earle Fraser) |
| Reverse Design | Buffalo (James Earle Fraser) |
| Designer | James Earle Fraser |
Rarity and Market Trends
In 1937, approximately 20 million Buffalo Nickels were struck across all mints, which is a relatively moderate mintage for the series. However, the number of coins in circulation today is far lower due to wear and attrition, especially for high-grade examples.
The San Francisco Mint struck 1,200,000 of these coins, and the Denver Mint produced a much lower number. This discrepancy contributes to the rarity of certain mintmarked versions of the 1937 Buffalo Nickel.
Rarity by Mintmark:
- Philadelphia: The most common mintmark for the 1937 Buffalo Nickel.
- Denver (D): Less common, making the 1937-D version more desirable.
- San Francisco (S): Rare, and coins minted in San Francisco are considered the most valuable due to their limited production.
Coins in excellent condition (MS65 or higher) are extremely rare and can command significant prices. High-grade 1937 Buffalo Nickels have been known to sell for thousands of dollars at auctions, particularly those with unique features or interesting toning.
| Mintmark | Mintage | Estimated Value (MS65) |
|---|---|---|
| Philadelphia | 20,477,000 | $50 – $150 |
| Denver (D) | 2,500,000 (approx.) | $100 – $300 |
| San Francisco (S) | 1,200,000 | $300 – $1,000 |
Current Market Trends
The 1937 Buffalo Nickel has steadily increased in value, particularly for higher-grade coins and the rarer mintmarked versions. In the early years of the coin-collecting boom, it wasn’t as valuable, but since the 1960s and 1970s, demand has grown significantly.
Today, collectors pay a premium for well-preserved pieces, especially those with attractive toning or significant historical provenance.
Several factors contribute to the 1937 Buffalo Nickel’s continued rise in value:
- Rarity: High-quality examples are scarce, and the more limited mintage coins, particularly the 1937-S, are highly sought after.
- Design: The iconic Native American and buffalo designs have made the Buffalo Nickel a favorite among collectors.
- Increased Demand: As interest in U.S. coinage continues to grow, collectors are seeking out rare and unique coins like the 1937 Buffalo Nickel.
Conclusion
The 1937 Buffalo Nickel stands as a key piece in the collection of U.S. coins. Its striking design, historical significance, and increasing rarity make it a sought-after treasure among numismatists.
With its limited mintage and growing market appeal, the 1937 Buffalo Nickel continues to captivate coin collectors. Whether you are adding to your personal collection or considering it as an investment, this coin is certainly one to watch in the numismatic market.
FAQs
1. What makes the 1937 Buffalo Nickel valuable?
The coin’s value is driven by its relatively low mintage, especially in higher grades, and the rarity of certain mintmarks.
2. What is the most valuable version of the 1937 Buffalo Nickel?
The 1937-S Buffalo Nickel is generally the most valuable, particularly when in excellent condition.
3. How can I determine the grade of my 1937 Buffalo Nickel?
The grade of a coin is determined by its condition, which can be assessed by professional grading services like PCGS or NGC.
4. How much is a 1937 Buffalo Nickel worth today?
Depending on the mintmark and grade, the 1937 Buffalo Nickel can be worth anywhere from $50 to over $1,000.
5. How rare is the 1937 Buffalo Nickel?
While 20 million were minted, the coin is considered rare in high grades and for certain mintmarks (especially the San Francisco variety).
