1937 Buffalo Nickel Value in 2023

The 1937 Buffalo nickel coin came out as a successor of the 1883 Liberty Headquarters dollar that went out of circulation. Sculptor James Earle Fraser designed the first copy of the 1937 nickel coin. The coin is also notable with collectors since it has valuable errors.

So, what is the value of a 1937 Buffalo nickel? The NGC Price Guide estimates that a circulated 1937 Buffalo Nickel is worth between $0.50 and $20 as of February 2023. On the open market, 1937 nickels, however, can fetch up to $8000 for valuable, uncirculated pieces.

Key Takeaways:

• The 1937 Buffalo nickel is worth between $0.5 and $20.
• Errors and the mint mark are the key components affecting the coin’s value.
• The three-legged 1937 Buffalo nickel is the most common valuable error that goes for thousands of dollars.

The Design of the 1937 Buffalo Nickel

The reverse of the 1937 Buffalo Nickel portrays a Native American with traditional feathers in his hair. The image is so large that it almost touches the coin’s rim.

On the reverse side of the coin, it has a portrait of bison and the words United States of America above it. Just underneath the portrait, there is the motto E PLURIBUS UNUM. It also has FIVE CENTS spelled below the portrait. Yet, for Type 1 1937 buffalo nickels, the FIVE CENTS denomination sits on a flat surface.

Related: 1964 Nickel Value – Full Guide

Where Is the Mint Mark on a 1937 Buffalo Nickel?

The word Liberty is in front of his nose and forehead on the right. The mint date lies below his neck, to the left. The date and the developer’s signature have faded over time on many Buffalo Nickels because of usage. The designer’s initials, F for Fraser, are beneath the mintage date.

You can find the mint mark on the coin’s reverse side beneath the words FIVE CENTS. San Francisco is represented by the letter S, while D stands for the Denver mint. 

They are, however, vulnerable to dishonest individuals attempting to put a mint mark on a coin with a common date to raise its value. So make sure a trustworthy coin vendor authenticates the rare Buffalo nickel before paying a lot of money.

Related: Nickels Worth Money Exploring the History and Worth of America’s Smallest Coin

1937 Buffalo Nickel Value No Mint Mark

None of the 79,485,769 Buffalo Nickels minted in 1937 had a mint mark. Because of the huge mintage, the coins are relatively widespread. 1937 Buffalo Nickel in MS 68 sells for $8,000. However, most coins without mint marks are only $50 in MS 65.

1937 Buffalo Nickel F under Date

The developer’s last name, James Earl Fraser, is represented by the letter F as you can see on the head’s side beneath the location where the date is. The designer’s initials are on every Buffalo nickel, regardless of where the developers minted it. 

Related: What Quarters Are Worth Money? List of Rare Quarters

Factors Affecting the Value of the 1937 Buffalo Nickel

Collectors love the 1937 Buffalo nickels; some rare ones are very precious and in high demand. Take a minute to look at your Buffalo nickel for the following elements that may affect the value of the rare coins in general if you need clarification on their worth.

• Mint mark location: The mint and the date can significantly affect its value. Buffalo nickel values are best determined by looking for dates, but the absence of dates only sometimes means that a mint error occurred. Some coins’ dates completely disappeared since they did not last long.  Buffalo nickel 1937-D value, struck in Denver, varies from $1 to $25,000.
• Condition of the coin: Even when it came out, the buffalo nickel had poor durability. Many nickels’ mint and date are either impossible to read or have disappeared. However, it is precious if you discover a Buffalo nickel in excellent condition. The PCGS grading scale is thorough but also considers worn-out edges and absent details when determining value.

• Rarity: Of course, the coin’s rarity is essential when determining its price. The final coin in the Buffalo Nickel series to be minted at the Philadelphia Mint is the 1937 Buffalo nickel. More than 15,000 are reportedly available in MS65 or greater.
• Demand among collectors: To meet most of the need for the 1937 Buffalo nickel pieces, tens of thousands of such coins are available in circulated condition, and many more are available in uncirculated grades.

Related: 1864 2 Cent Coin Value

What Makes a 1937 Buffalo Nickel Valuable?

The 1937 Buffalo nickel is worth more due to errors. A standard 1937 Buffalo nickel is about $1 in low grades, mainly because of the copper content’s melt value. A graded nickel is worth a few thousand dollars in immaculate condition. 

However, if your coin has the 3-legs fault, you might sell it at auction for nearly $50,000! Yet, it only happens on 1937-D Buffalo nickels.

Related: The 1936 Buffalo Nickel: A Classic American Coin with a Rich Legacy

Grading System for the 1937 Buffalo Nickel

Even the most seasoned coin collectors need years of effort to become proficient at accurately grading Buffalo nickels.

The PCGS has listed these categories for grading buffalo nickels. The wearing on the coin’s back determines the coin’s condition.

• FR/AG is code for fair or about good. The dates are well-used, and the letters will be visible through the rim.
• G/VG stands for good or very good. The complete date and legible text should be visible.
• F/VF stands for fine or very fine. For the coin to receive this grade, you must be able to view the bison’s horn.
• EF/AU stands for very fine/roughly uncirculated. The buffalo’s entire horn tip is visible if you’re fortunate enough to receive this grade.

Related: Bicentennial 1776 to 1976 Half Dollar Value – A Complete Guide

1937 Buffalo Nickel Values

Consider the date, mint mark, and condition to figure out the value of a buffalo nickel. A heavily used coin with a date is worth far more than its face value. Therefore, each coin, which is highly well-liked by collectors, is carefully analyzed to determine its full potential.

Steps Toward Value:

• First, determine the date and locate the mint marks to discover the listing on the value table.
• Grading the Condition – Assess the condition and provide a grade using the video, images, and descriptions.
• Unique Characteristics – Collectors value variations, so check your coin against examples to identify any distinctive features of these vintage Buffalo nickels.

How Do I Know If My Buffalo Nickel Is Valuable?

Take note of the buffalo’s missing right front leg! The 3-Legged Buffalo type, a very noticeable mint manufacturing fault once you’ve seen it, is well-liked by collectors and is regarded as vital to complete a collection. 

Nickels produced at the Denver mint also have the 3-Legged design. Find the D mint mark under the Five Cents and below the buffalo to identify the mint.

Experts think excessive die cleaning was to blame for the buffalo’s missing leg since too much metal went off. A few thousand were already circulating before the mint noticed the error.

Tips for Collecting 1937 Buffalo Nickels

When collecting 1937 Buffalo nickels, it’s crucial to examine your coins’ condition and authenticity. Coins in good condition are valuable and expensive. However, you can also go for rare and valuable examples of coins to get the best of the 1937 Buffalo nickel collection.

A perfect example of a valuable error on the 1937 Buffalo nickels is the three-legged buffalo.

Moreover, build a comprehensive coin collection by developing a good plan when collecting the coins. Take note that the value of the coins goes up and down, and therefore keep track of the nickels you collect and the dates you sell, then note the trends in the price.

What Is the Error on the 1937 Buffalo Nickel?

The most common error on the 1937 Buffalo nickel is the three-legged buffalo. The coin’s potential incomplete strike is also considered when assigning grades like uncirculated or mint condition. For example, a 1937 nickel in average condition is worth between fifty cents and twenty dollars, while one graded as good as MS-66 will fetch $149. To the right collector, though, some incredibly rare 1937 nickels may be worth tens of thousands of dollars.

Related: 1971 Half Dollar Value – Mint, Errors And Worth

1937 Buffalo Nickel Value FAQs

How Many 3-Legged Buffalo Nickels Are There?

Although the 1937-D 3-Legged Buffalo nickel’s mintage numbers are unknown, numismatic experts estimate that 10,000 are still in existence, with the majority being in circulating grades.

What is the Value of the 1937-D Buffalo Nickel?

The starting price for a 1937 coin now is 55 cents. So why is a Buffalo Nickel from 1937 valuable? The cost is for a substantially used coin in Good condition. But the 1937 nickel is noteworthy for an intriguing and uncommon variation in which the buffalo has just three legs.

Conclusion

 A 1937 nickel in a good condition is worth between fifty cents and twenty dollars, while one graded as good as MS-66 will fetch $149. To the right collector, though, some incredibly rare 1937 nickels, including the 3-legged one, may be worth tens of thousands of dollars.