The 1937 Indian Head Buffalo Nickel is one of the most fascinating coins in American history. With its unique design and limited availability, it has become a prized possession for collectors worldwide. This nickel is not just a piece of currency but a glimpse into the rich cultural heritage of the United States. Whether you’re a seasoned numismatist or a history enthusiast, the 1937 Buffalo Nickel holds a special place in the story of American coinage.
What Makes the 1937 Buffalo Nickel Special?
The 1937 Indian Head Buffalo Nickel stands out for several reasons. Designed by sculptor James Earle Fraser, it features a Native American on the obverse (front) and a buffalo on the reverse (back). These images symbolize America’s rich heritage, paying homage to its indigenous peoples and wildlife.
The coin’s rarity, especially in certain conditions and mint variations, makes it highly valuable to collectors. For instance, the 1937-D 3-Legged Buffalo Nickel, a minting error variety, is particularly sought after.
Design and Symbolism
Obverse: The Native American
- The obverse side showcases a composite portrait of several Native American leaders, embodying the spirit of America’s indigenous tribes.
- The intricate details, like the headdress and facial features, highlight Fraser’s artistic brilliance.
Reverse: The Buffalo
- The reverse side features an American bison, often referred to as a buffalo. It represents the wildlife of the Great Plains and was modeled after “Black Diamond,” a famous buffalo housed at the Bronx Zoo.
Mint Locations and Variations
The 1937 Buffalo Nickel was minted in three locations:
| Mint Mark | Location | Mintage |
|---|---|---|
| None | Philadelphia | 79,480,000 |
| D | Denver | 17,826,000 |
| S | San Francisco | 5,635,000 |
1937-D 3-Legged Variety
This error coin, produced at the Denver Mint, is famous for its missing leg on the buffalo. This occurred due to over-polishing of the coin die and adds significant value to the coin, depending on its condition.
Value of the 1937 Buffalo Nickel
The value of a 1937 Buffalo Nickel varies based on its condition, mint mark, and rarity. Below is a general guide:
| Condition | Philadelphia (No Mint Mark) | Denver (D) | San Francisco (S) | 1937-D 3-Legged |
|---|---|---|---|---|
| Good (G-4) | $1.50 | $2.50 | $5.00 | $550 |
| Very Fine (VF-20) | $3.00 | $8.00 | $15.00 | $1,000 |
| Extremely Fine (EF-40) | $5.00 | $15.00 | $25.00 | $2,500 |
| Uncirculated (MS-60) | $20.00 | $40.00 | $60.00 | $5,000 |
The 1937-D 3-Legged Buffalo Nickel is one of the most valuable error coins and can fetch tens of thousands of dollars at auctions.
Collecting Tips for the 1937 Buffalo Nickel
- Look for Mint Marks: The Denver and San Francisco mint versions are generally more valuable.
- Check for the 3-Legged Variety: This error coin significantly boosts the value of your collection.
- Assess the Condition: Coins in better condition (graded by services like PCGS or NGC) are worth more.
- Beware of Counterfeits: The 3-Legged Nickel is frequently counterfeited. Ensure authenticity through expert verification.
Historical Significance
The 1937 Buffalo Nickel represents an era when American coins carried deep cultural and historical narratives. It was among the last years of the Buffalo Nickel series, which was replaced by the Jefferson Nickel in 1938.
Fun Facts About the Buffalo Nickel
- The design was controversial at its time, with critics claiming the buffalo looked “skinny.”
- The coin was intended to last only five years but was in circulation for over 25 years due to its popularity.
- Fraser’s depiction of the buffalo was so detailed that it earned praise from wildlife artists.
Conclusion
The 1937 Indian Head Buffalo Nickel is more than just a coin; it’s a piece of art and a slice of American history. From its iconic design to the coveted 3-Legged variety, it remains a must-have for collectors. Whether you’re starting a coin collection or diving into numismatic history, this nickel serves as a timeless reminder of America’s cultural heritage.
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FAQs
1. What is the value of a 1937 Buffalo Nickel in average condition?
In average circulated condition, the 1937 Buffalo Nickel can be worth between $1.50 and $5.
2. Why is the 1937-D 3-Legged Buffalo Nickel so valuable?
This coin’s value comes from its minting error, which created a highly sought-after rarity among collectors.
3. How can I identify a 1937-D 3-Legged Buffalo Nickel?
Look closely at the buffalo’s front legs. In the error coin, the front right leg is missing due to over-polishing of the die.
4. Where can I buy or sell a 1937 Buffalo Nickel?
You can trade this coin through coin dealers, online marketplaces, or auction houses specializing in rare coins.
5. Are there any other valuable Buffalo Nickels?
Yes, other rare varieties include the 1916 Doubled Die Obverse and the 1926-S Buffalo Nickel in high grades.