Buffalo nickel value: key dates, types and famous varieties

Most Buffalo nickels are common, especially worn coins from the 1930s, but low-mintage San Francisco dates and three famous die varieties, the 1916 doubled die, the 1918/7-D overdate and the 1937-D three-legged bison, are among the most valuable 20th-century U.S. coins.

By the Coin Scanner team · Updated 2026-10-13

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The coin and its two types

The sculptor James Earle Fraser designed the five-cent piece that replaced the Liberty Head nickel in 1913. The obverse shows a Native American chief facing right, with LIBERTY near the upper right edge and the date low on the left; PCGS notes Fraser worked from three Native American models. The reverse shows an American bison. Collectors call it the Buffalo nickel, and some prefer Indian Head nickel.

The first version did not last a year. On Type 1 coins the bison stands on a raised mound with FIVE CENTS lettered on it. PCGS explains that the denomination was a high point and wore off quickly, so in the spring of 1913 the Mint lowered the ground to a flat line and set FIVE CENTS into a recess beneath it. That is Type 2, used through 1938. The fix protected the denomination but not the date, which stayed raised on the obverse. As PCGS puts it, that left huge numbers of "dateless" Buffalo nickels in circulation by the 1950s and early 1960s.

Key dates and varieties with mintages

Mintages below are as listed by PCGS CoinFacts. For the three die varieties, no separate figure exists: they were struck within the total for that date and mint.

The famous varieties

1918/7-D overdate

On this Denver variety, parts of a 7 can be seen beneath the final 8 of the date. PCGS's David Hall calls it rare in circulated grades and extremely rare in Gem condition, and notes that every genuine example has a mint mark that leans to the left. According to PCGS, collectors did not discover it until 1930, well after most examples had already worn down in circulation. PCGS lists its auction record at about $350,750 for an MS65 sold in August 2006.

1916 doubled die obverse

PCGS describes this as the most popular doubled die in the series, with roughly 200 examples known and most in the Very Fine range. The doubling is easiest to see on the date and also shows on the chief's lips and chin. The PCGS auction record listed for it is about $281,750, for an MS64 in August 2004.

1937-D three-legged bison

According to PCGS, a Denver reverse die was polished so heavily, probably to remove clash marks or extend its life, that most of the bison's front right foreleg disappeared, leaving only the hoof. Every genuine example also shows a rough raised line between the back legs, a remnant of the damaged die surface. All known coins come from that one reverse die, so a three-legged 1937-D without the "stream" between the back legs is a red flag. PCGS records a PCGS MS66+ selling for $88,125 at Legend Rare Coin Auctions on December 17, 2025.

The San Francisco keys

PCGS singles out the 1913-S Type 2, 1921-S, 1924-S and 1926-S as the regular-issue keys. San Francisco output was usually smaller than the other mints, and many Denver and San Francisco coins from the 1910s and 1920s are weakly struck because nickel alloy is hard, so a well-struck example is worth more than a mushy one in the same grade. David Hall calls the 1926-S the key date of the series once the 1918/7-D overdate is set aside; PCGS lists its record at about $322,000 for an MS66 in April 2008.

Dateless coins and why acid restoration hurts

Because the date sits on a high spot of the obverse, it was often the first thing to wear away. A dateless Buffalo nickel cannot be assigned to a year, so it trades for little more than a small premium over face value. Products such as Nic-A-Date use acid on the date area to bring back a faint image of the digits, and Numismatic News has reported collectors finding even rare varieties that way. The catch is that the coin has been chemically altered. Grading services will holder restored pieces but note that the coin is not in original condition, and such coins will not compete at the top of registry sets. If a worn coin might be a key date, have it examined before anyone treats it.

How to check your Buffalo nickel

1. Read the date on the lower left of the obverse, under good light at an angle.
2. Find the mint mark below FIVE CENTS on the reverse.
3. Decide the type for 1913 coins: mound (Type 1) or flat line (Type 2).
4. Check the varieties: a 1916 with doubled date, a 1918-D with a 7 under the 8, a 1937-D with three legs.
5. Judge wear on the horn. PCGS notes the bison's horn is a handy grading guide: a full horn tip points to Extremely Fine or better.

The Coin Scanner app can read the date and mint mark from photos of both sides and return an estimated value range, which helps you sort a jar of Buffalo nickels quickly.

What drives value

Date and mint come first, then grade, then strike. A full date and full horn matter a great deal on early branch-mint coins. Cleaning, corrosion and acid treatment all reduce value. Prices quoted here are past auction results for exceptional coins, not estimates for typical finds. For a key date or variety, get the coin authenticated and graded professionally before you buy or sell.

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