Many rare coins have high market demand, making them a brilliant investment piece. Prices for some of these rare coins often increase as the value increases, making them an even better investment. Some collectors will pay thousands of dollars for a coin that is graded MS-70, suggesting it is in “mint state” condition. Coins of this grade are nearly perfect and command a premium price. Other collectors prefer to buy coins without these kinds of grades for less money, which still have exceptional value and demand. Let’s explore the 1937 buffalo nickel in detail.
The History of the Buffalo Nickel
James Earle Fraser designed the 1937 Buffalo Nickel which is part of the Buffalo Nickel series. The Buffalo nickel is a copper-nickel five-cent coin that was minted during the years 1913 and 1938. The US Mint began the Buffalo series to beautify American coinage. The coin has a bison on its obverse side, while the reverse has an American Indian Head and got its name from the bison depicted on it.
The Buffalo was occasioned by the need to redesign the 26-year-old Liberty Head Nickel. Despite the unrealistic demands and objections by the Hobbs Manufacturing Company, the Buffalo Nickel was first struck in 1913 and introduced with limited circulation. The Buffalo nickel was then preceded by the Jefferson Nickel, circulating in 1938.
You can find these nickels in three varieties including;
- The Type 1 – This coin was minted from 1913 to 1938. It had no designer’s initials at the base of the buffalo’s neck on the reverse side.
- Type 2 – This was minted from 1913 to 1938. It had a letter F at the base of the buffalo’s neck on the reverse side, indicating Fraser as the designer.
- Type 3 – This version had a different placement of the designer’s initial F on its reverse side. It is positioned beneath the ground line below the buffalo’s back left leg.
The 1937 Buffalo Nickel
The 1937 Buffalo Nickel is one of the most popular collectible coins in the United States Mint series. The initial pieces of the Buffalo Nickel had drawbacks, with the dies wearing out during production. The chief engraver then estimated that Buffalo Nickel dies wore out and broke faster than the Liberty Head Nickel dies.
A correction was thus needed to remove the problems. In 1937, the Buffalo Nickel die was polished by a worker at the Denver Mint to clear the clash marks. The worker did an excellent job removing the clash marks but inadvertently removing one of the buffalo’s legs. The mistake makes the 1937 Buffalo Nickel rare and unique, thus affecting its value.
Value of the 1937 Buffalo Nickel
The 1937 Buffalo Nickel still has a high demand among collectors and investors. However, it doesn’t have the premium value of other Buffalo Nickels because more were minted. Many specimens are available in all grades from Fine to MS-65 (Mint State) condition. The 1937 Buffalo nickel value ranges from retail prices of $2.26 to $41.73, depending on the mint luster. Though nickels are pretty standard, they fetch high prices depending on their numismatic value, indicating their misstruck errors, coin grading, history, and melt value.
Start Your Collection Today
The 1937 Buffalo Nickel is one of the most famous rare coins. It started as a regular nickel that was distributed to the public. However, its unique design and mintage made it a popular choice for coin collectors. You should thus include the 1937 Buffalo Nickel as part of your collection. You can use these nickels for inflation hedging, speculation, and numismatics. Rare coins such as the 1937 Buffalo Nickel make brilliant investments that you can also enjoy while they appreciate.
