How Much Is a Buffalo Nickel Worth? Value Guide | Haven Coin

What Is a Buffalo Nickel?

A Buffalo Nickel is a five cent coin struck by the U.S. Mint from 1913 to 1938. It gets its popular nickname from the American bison featured on the reverse. The obverse shows a composite portrait of a Native American chief, based on sketches of several real tribal leaders. The coin was designed by sculptor James Earle Fraser as part of a broader early 1900s push to make U.S. coinage more artistic and distinctly American.

Whether you inherited a jar of them or found one in a coin roll, identifying the date and mint mark is the first step to understanding what your coin is actually worth.

When Were Buffalo Nickels Made?

Buffalo Nickels were produced from 1913 through 1938 across three U.S. Mint facilities: Philadelphia, Denver, and San Francisco. Philadelphia-struck coins carry no mint mark, while Denver coins are marked with a small "D" and San Francisco coins with an "S," both located on the reverse below "FIVE CENTS."

The design changed partway through its very first year, and again slightly over time as engravers adjusted details to help the coin strike and wear better. By 1938, the Mint retired the design in favor of the Jefferson nickel, which remains in production today with only minor updates since. That production window, spanning the Roaring Twenties and the Great Depression, is part of why mintage numbers swing so widely from year to year. Some years saw tens of millions struck, while others saw just a few million, which directly shapes how common or scarce a given date is today.

How Much Is a Buffalo Nickel Worth?

Most Buffalo Nickels that turn up in an old jar or inherited collection are common dates in worn condition, and those typically sell for $1 to $2. But, the series as a whole has an enormous value range. A handful of rare dates, mint errors, and coins in exceptional uncirculated condition have sold at auction for tens of thousands, and in a few extraordinary cases, hundreds of thousands of dollars.

The gap between a "pocket change" nickel and a five-figure nickel almost always comes down to three things: date, mint mark, and condition. A coin from a low-mintage year or branch mint is inherently scarcer, and a coin that survived in crisp, uncirculated condition is far harder to find than a well-worn example of the same date. Because the range is so wide, it's worth checking the date and mint mark on any Buffalo Nickel before assuming it's only worth face value.

What Makes a Buffalo Nickel Valuable?

Several factors combine to drive value in this series. Low mintage is the single biggest driver: years or branch mints that produced fewer coins are scarcer today, and collectors pay a premium to fill gaps in a complete date set. Condition matters just as much, as an uncirculated coin with full original luster and sharp design details can be worth many times more than a heavily worn example of the exact same date.

Because of the Nickel's high-relief design and the hardness of the copper-nickel alloy, many display poor strike quality, especially at the Denver and San Francisco mints. A coin with a "full horn" on the bison and crisp hair braid detail on the portrait is more desirable, and often more valuable, than a same-grade coin with mushy details.

Finally, errors and varieties add real value. Doubled dies, over-polished dies that erase design elements, and repunched mint marks are all accidents of the minting process that turn an otherwise common date into something collectors actively compete for.

What Is the Difference Between Type 1 and Type 2 Buffalo Nickels?

In 1913 alone, the Mint produced two distinct versions of the design. Type 1 Buffalo Nickels show the bison standing on a raised mound of earth, with the words "FIVE CENTS" inscribed directly on that mound. Partway through the year, the Mint switched to Type 2, which lowered the ground beneath the bison into a flat, recessed area and moved "FIVE CENTS" into that recessed space instead.

The change was a practical fix. The raised lettering on Type 1 sat on a high point of the coin's design, which meant it wore down and became illegible relatively quickly in circulation. Type 2's recessed lettering held up much better to everyday wear and tear.

Both types were struck in 1913 at all three mints. Every year afterward used the Type 2 design exclusively. Type 1 Nickels had a shorter production run, but slightly more Type 1 coins were actually produced overall, partly because so many were struck in Philadelphia and saved as first-year novelties. That's why Type 2 coins from the branch mints, especially the 1913-S, are generally the more valuable of the two. Collectors often treat the two 1913 types as separate entries when assembling a complete Buffalo Nickel set.

What Buffalo Nickel Dates Should You Look For?

A handful of dates stand out as genuine key dates across the series. The 1913-S Type 2 has a notably low mintage and is scarce in every grade. The 1918/7-D is a highly sought after overdate error in all conditions, where a "7" die was re-punched with an "8," leaving traces of both numbers visible. The 1921-S and 1926-S are both semi-key dates with lower mintages that command modest premiums over common dates.

The most famous variety in the entire series is the 1937-D "Three-Legged" Buffalo, created when a Denver Mint worker over-polished a die to remove marks and accidentally erased one of the bison's front legs. The 1916 Doubled Die Obverse Buffalo Nickel is not the most famous variety in the series, but it is the most valuable due to there being two imprints of the year "1916" being present on very few pieces. If you come across any of these dates and varieties, it's worth having the coin examined by a professional before assuming it's only worth its common-date value.

How much is a 2005, 1937, 1936, 1935, and 1930 Buffalo nickel worth?

Each of these years carries a different value range depending on rarity and condition:

2005: Technically not a true Buffalo Nickel, but a Jefferson nickel from the one-year "Westward Journey" series that revived the bison design to honor the Lewis and Clark expedition. Circulated examples are generally worth face value. A rare "Speared Bison" die-error variety commands a higher premium.

1937: A common date in circulated condition, generally worth $1 to $2. Uncirculated examples climb into the hundreds or low thousands depending on grade, and the famous 1937-D Three-Legged variety can range from several hundred dollars to well over $10,000 in top condition.

1936: Similarly common and affordable, typically $1 to $3 in circulated grades and $50 to $150 uncirculated.

1935: Generally worth $1 to $2 in circulated condition, with uncirculated examples ranging from roughly $50 up to $500 or more depending on strike quality and grade.

1930: A common Depression-era date. The Philadelphia issue runs about $1 to $3 circulated and $30 to $60 uncirculated, while the scarcer 1930-S is similar in worn condition but can reach $80 to $150 or more when uncirculated.

Are Buffalo Nickels Made of Silver?

No. Despite their age and historic look, Buffalo Nickels are made of 75% copper and 25% nickel. This is the same basic "nickel" alloy still used in five-cent coins today. This is a common point of confusion for beginners, since other coins from around the same era, like Mercury Dimes, Standing Liberty Quarters, and Walking Liberty Half Dollars, were struck with 90% silver.

Because there's no silver content, a Buffalo Nickel's melt value is negligible. Even at current metal prices, the copper and nickel in the coin are worth only a fraction of a cent beyond face value. This is an important distinction for anyone sorting through an inherited coin jar, since it's easy to assume "old coin equals silver coin." With Buffalo Nickels, the entire value is numismatic, driven by date, mint mark, condition, and collector demand, rather than the metal itself.

This also means Buffalo Nickels are generally not something bullion buyers or scrap gold and silver dealers are interested in for melt value. They're best evaluated by someone with numismatic expertise who can assess the coin's date, condition, and any potential errors or varieties.

How Do You Sell Buffalo Nickels?

From common dates in worn condition, to key dates, rare varieties, or uncirculated examples, it's worth getting an expert opinion from a reputable coin shop before selling. A general pawn shop or antique dealer is less likely to recognize numismatic value the way a dedicated coin shop will.

Most coin shops offer free evaluations: you bring in your coins (along with a photo ID, which many states require for precious metal and coin sales), and an expert sorts and identifies them, then gives you a verbal, no-obligation offer. You're never required to sell on the spot, and it's common to shop your collection around to more than one buyer.

If you're in the Hamden, Connecticut area, Haven Coin & Jewelry offers free walk-in and by-appointment coin appraisals, and can help identify whether a Buffalo Nickel you've found is a common date or something genuinely rare worth getting graded.

FAQ: Buffalo Nickels

Are Buffalo Nickels worth money?

Yes. Every Buffalo Nickel is worth at least a small premium over face value, and rare dates or high-grade examples can be worth thousands of dollars.

What is the rarest Buffalo Nickel?

The 1916 Doubled Die Buffalo Nickel would be the rarest Buffalo Nickel. If we're only looking at standard dates and not mint errors, the 1913-S Type 2 Nickel would be the rarest.

What year Buffalo Nickel is worth the most?

The most valuable individual Buffalo Nickels are rare varieties like the 1918/7-D overdate and the 1916 Doubled Die. Among regular dates, 1913 coins stand out because even worn examples carry a solid premium over face value.

How can you tell what a Buffalo Nickel is worth?

Identify the exact date and mint mark, assess the coin's condition and strike quality, check for doubling or other errors, and compare it against a current price guide or ask a local coin shop for a free evaluation.