Imagine discovering a coin in your spare change that’s worth over $600,000. It sounds too good to be true—but for coin collectors and lucky finders, that dream has become a reality. The legendary Buffalo Nickel, officially known as the Indian Head Nickel, has a rich history—and among its ranks is one incredibly rare specimen valued at a staggering $601,000 (or more).
This article explores the background of the Buffalo Nickel, what makes some of them exceptionally valuable, and how you might unknowingly have a fortune sitting in your coin jar.
What Is the Buffalo Nickel?
The Buffalo Nickel was minted by the United States from 1913 to 1938. Designed by sculptor James Earle Fraser, the obverse features a Native American chief, while the reverse shows a powerful American bison—commonly referred to as a buffalo. Its iconic design is one of the most beloved in American coinage.
But not all Buffalo Nickels are created equal. While millions were struck, certain errors, low mintages, and specific conditions have turned some of these coins into prized collector’s items worth tens—or even hundreds—of thousands of dollars.
The $601,000 Buffalo Nickel: The 1913 Liberty Head Error
The most valuable Buffalo Nickel ever sold is not even a true Buffalo design—it’s the 1913 Liberty Head Nickel with a twist. Only five known examples exist of this transitional error, and one sold for $4.5 million in 2018. However, when it comes to Buffalo-design nickels, the crown jewel is the 1916 Doubled Die Obverse Buffalo Nickel, with one near-perfect example selling for over $601,000 at auction.
The 1916 Doubled Die Obverse Buffalo Nickel
- Estimated Value: Up to $601,000 in mint state
- What Makes It Rare: This coin has a doubled die error, where the date and inscriptions on the obverse were struck twice—creating a shadowed, doubled appearance.
- Why It’s Special: Extremely rare and hard to find in circulation, especially in high grades. Only a handful of top-condition examples exist.
- What to Look For: Clear doubling on the date (1916) and the words “LIBERTY” and “E PLURIBUS UNUM.” Use a magnifier to spot these details.
Other Valuable Buffalo Nickels You Should Look Out For
1. 1918/7-D Overdate Nickel
- Value: Up to $350,000
- Why It’s Rare: The 1918 date was stamped over a 1917 die, creating a visible overdate error.
- Mintmark: Look for the “D” under “FIVE CENTS.”
2. 1926-S Buffalo Nickel
- Value: Up to $100,000
- What to Know: Only 970,000 coins were struck, making it one of the lowest mintage Buffalo Nickels.
- Tip: High-grade versions are rare; circulated ones still fetch hundreds or thousands.
3. 1937-D “Three-Legged” Buffalo Nickel
- Value: Up to $85,000
- The Error: The bison on the reverse appears to have only three legs due to a die polishing mistake at the Denver Mint.
- What to Look For: Missing front leg and unusual wear pattern—one of the most famous error nickels.
4. 1913 Type 2 (Proof) Buffalo Nickel
- Value: Up to $65,000
- Unique Trait: Struck in proof format with Type 2 reverse—featuring a more defined mound beneath the buffalo.
- Only About 400 Exist.
How to Identify a Valuable Buffalo Nickel
Finding one of these nickels in your pocket might be rare, but it’s not impossible—especially if you search through inherited coin jars, old collections, or coin rolls. Here’s how to improve your odds:
- Check the Date: Anything from 1913 to 1938 is potentially collectible.
- Look for Errors: Doubled dates, overdates, or missing details (like the three-legged buffalo).
- Check the Mintmark: “D” for Denver, “S” for San Francisco—usually under “FIVE CENTS.”
- Condition Matters: Coins with sharp details and minimal wear are worth more. Grades like MS-65 and higher bring top dollar.
- Consider Professional Grading: Get your coin authenticated and graded by services like PCGS or NGC to determine real value.
Watch Out for Fakes and Replicas
High-value Buffalo Nickels are frequently counterfeited. If a deal looks too good to be true or the coin has inconsistent details, consult a reputable coin dealer or grading service before making assumptions—or sales.
Final Thoughts: Is a $601K Nickel in Your Possession?
While finding a $601,000 Buffalo Nickel is rare, many valuable versions are still in circulation or hiding in attics and basements. If you come across a Buffalo Nickel, don’t dismiss it as old pocket change—you could be holding history and a hefty payday in your hand.