Many people don’t think much of the coins in their pocket change, but some rare coins can be worth millions. One of the most sought-after coins is the Buffalo Nickel, which could be worth an incredible $15.1 million—and it might still be in circulation today.
In this article, we’ll explore why the Buffalo Nickel is so valuable, how to spot a rare one, and where you might find it.
What Is the Buffalo Nickel?
The Buffalo Nickel was minted in the United States from 1913 to 1938 and is one of the most iconic coins in American history. Designed by James Earle Fraser, the coin features a Native American on the front (obverse) and a buffalo on the back (reverse). The buffalo design is one of the most recognizable features of this coin, which gives it its nickname.
Why Is the Buffalo Nickel So Valuable?
The Buffalo Nickel’s value can vary, but one rare example has been valued at an astounding $15.1 million. Here’s why some Buffalo Nickels can be worth so much:
- Rarity: Certain years and mint marks of the Buffalo Nickel are extremely rare, especially the 1913 “Type 2” Buffalo Nickel. Only a small number of these coins were produced, making them highly sought after by collectors.
- Historical Significance: The Buffalo Nickel was part of a larger movement to redesign U.S. coins to reflect a more American identity. Its design, which featured a Native American and a buffalo, represents important parts of U.S. history.
- Condition: As with any rare coin, the better the condition, the higher the value. A 1913 Buffalo Nickel in excellent condition can fetch millions of dollars at auction, while a more worn version may still be worth a significant amount, but not nearly as much.
How to Spot a Rare Buffalo Nickel
If you want to check whether you might have a valuable Buffalo Nickel in your collection or pocket change, here are some tips:
- Look for the Date: The most valuable Buffalo Nickels are from the year 1913, particularly the “Type 2” variety, which has a different design on the back. If you spot one with the date 1913 and it looks like the Type 2 design, you may be holding something worth a lot.
- Check for Mint Marks: Buffalo Nickels minted in Philadelphia have no mint mark, while coins minted in Denver are marked with a D, and coins minted in San Francisco have an S. The mint mark can affect the coin’s value, especially for certain rare years.
- Examine the Condition: Coins in excellent condition, known as “MS-65” or higher, are worth more. The Buffalo Nickel’s design can wear off over time, so coins in good condition (with sharp details) are much more valuable.
Where to Find a Rare Buffalo Nickel
Finding a rare Buffalo Nickel in circulation is unlikely, but it’s still possible! Here are some places where you might come across one:
- Coin Shops: Rare coins like the 1913 Type 2 Buffalo Nickel are sometimes sold by dealers in coin shops.
- Flea Markets or Estate Sales: Older coins might be sold at flea markets or estate sales, sometimes at face value or slightly above.
- Coin Rolls: Some dedicated coin collectors buy rolls of Buffalo Nickels from banks or other sources in the hopes of finding a rare one.
- Antique Stores: Coins may be available at antique shops, and you could discover a hidden gem if you’re lucky.
What to Do If You Find a Rare Buffalo Nickel
If you think you’ve found a valuable Buffalo Nickel, here’s what you should do:
- Don’t Clean It: Cleaning a coin can reduce its value, so handle it carefully by the edges to avoid damaging the surface.
- Get It Graded: Take the coin to a professional coin grading service like PCGS or NGC. They’ll authenticate and assign a grade to your coin, which is essential for determining its value.
- Sell or Keep It: If you’re lucky enough to own a rare Buffalo Nickel, you can choose to sell it through auction houses or to specialized collectors. Many rare coins go for millions at auctions, especially if they are well-maintained and authenticated.
Final Thoughts
The Buffalo Nickel, especially the 1913 Type 2 variety, is a coin that has fascinated collectors for generations. It’s not just valuable because of its rarity and design, but also because of its historical importance. While finding a $15.1 million Buffalo Nickel in your pocket change is a long shot, it’s still worth checking your coins for a potential treasure.
If you happen to come across one of these rare and valuable coins, you could be sitting on a small fortune. And remember, the next time you visit a coin shop, estate sale, or flea market, be sure to keep an eye out for these legendary coins.