If you’ve come across a 1937 Buffalo nickel in your pocket change, you may be curious about its background and potential worth. These coins, rich in history, can be quite collectible.
Let’s explore the value of the 1937 Buffalo nickel, its origins, and what factors can make one especially rare or expensive.
1937 Buffalo Nickel Value Chart
| Mint Mark | XF45 | MS60 | MS65 | MS68 |
|---|---|---|---|---|
| 1937 (P) No Mint Mark | $9 | $32 | $75 | $10,500 |
| 1937 D | $9 | $32 | $110 | $20,000 |
| 1937 S | $9 | $32 | $110 | $18,000 |
| Grade | PR60 | PR65 | PR67 | PR69 |
|---|---|---|---|---|
| 1937 (P) No Mint Mark Proof | $775 | $1,350 | $2,250 | $95,000 |
Background of the 1937 Buffalo Nickel
The Buffalo nickel debuted in 1913, named for the American bison on its reverse side. The obverse features a profile of a Native American. The design was created by James Earle Fraser and replaced the Liberty Head nickel. The coin was admired for its artistry but posed challenges for vending machines and wore down easily, especially the date.
These issues led to its short production span, ending in 1938. The 1937 coins came from Philadelphia, San Francisco, and Denver, with Philadelphia also minting proof versions. About 110 million were struck that year, making the 1937 issue among the most common of the series.
Design Features of the 1937 Buffalo Nickel
Front of the Coin
The obverse displays a Native American man’s profile. Though many claimed to be the model, it’s widely accepted that the image was a composite of several individuals. The artist’s initial “F” appears below the date on the shoulder, and the word “LIBERTY” curves along the coin’s edge.
Back of the Coin
The reverse shows a bison standing on a mound. Fraser said the animal was modeled on Black Diamond from the Bronx Zoo, though some claim it was another bison named Bronx. The coin includes inscriptions for “UNITED STATES OF AMERICA”, “E PLURIBUS UNUM”, and “FIVE CENTS”. The mint mark, if present, is located beneath the denomination.
Composition and Physical Details
Buffalo nickels weigh 5 grams, are 21.2 millimeters in diameter, and have a plain edge. They consist of 75% copper and 25% nickel. These coins are also known as Indian Head nickels.
Grading the 1937 Buffalo Nickel
| Grade Range | Description |
|---|---|
| 1–3 | Basal State to Very Fair |
| 4–6 | Good |
| 7–10 | Very Good |
| 12–15 | Fine |
| 20–30 | Very Fine |
| 40 | Extremely Fine |
| 50 | About Uncirculated |
| 60–70 | Mint State |
Grading is essential in determining your coin’s value.
Value Breakdown by Mint and Condition
1937 (P) No Mint Mark Buffalo Nickel
Philadelphia produced nearly 79.5 million of these nickels, the second-largest mintage of the series. An XF45 coin is worth around $9, while MS60 fetches $32. A gem-quality MS65 version is worth about $75, rising to $10,500 for an MS68. Top examples in MS68+ can command up to $30,000.
1937 D Buffalo Nickel
Denver minted nearly 18 million coins. XF45 and MS60 examples are similarly priced to Philadelphia coins. But at higher grades, Denver coins are more valuable. An MS65 piece is valued at $110, and an MS68 can bring $20,000. Only eight are known at MS68, making them highly desirable.
1937 S Buffalo Nickel
San Francisco produced just over 5.6 million coins. Despite the lower mintage, more mint state coins exist compared to Denver’s. MS65 coins go for $110, MS66 for $200, and MS67 for $800. Only three are known at MS68, each valued around $18,000.
1937 (P) Proof Buffalo Nickel
Philadelphia also struck 5,769 proof coins in 1937. These were made for collectors using polished dies and planchets. Even lower-grade proof coins are valuable, with PR60 examples worth $775 and PR65 at $1,350. The top-graded PR69 specimens are worth up to $95,000.
Noteworthy Errors in 1937 Buffalo Nickels
1937 D Three-Legged Buffalo Nickel
Due to excessive die polishing, some 1937 D nickels appear to show a buffalo missing a leg. These “Three-Legged” nickels are rare and highly prized. Even in low grades, they’re worth hundreds. An XF45 sells for about $1,000, and the best-known MS66+ versions are valued at $105,000.
1937 D Over D Repunched Mint Mark
Some Denver nickels have a visible second “D” beneath the mint mark, a repunched mint mark error. These fetch a premium over regular coins, with MS65 examples selling for around $150.
A similar repunched mint mark exists on some 1937 S nickels, and one MS65 example sold for $185.
Selling Your 1937 Buffalo Nickel
If you want to sell your Buffalo nickel, various online platforms and coin dealers are available. Choosing one with a solid reputation and user reviews can help ensure a smooth transaction.
FAQs
What is the value of a 1937 Buffalo nickel today?
In circulated condition, it’s around $7–$9. Mint state coins or rare varieties can fetch thousands depending on grade and rarity.
Is there any silver in a 1937 Buffalo nickel?
No, it contains 75% copper and 25% nickel. The silver-like appearance comes from the metal mix, not actual silver content.
How do I tell if my 1937 nickel is a proof coin?
Proof nickels have a sharper strike, reflective surfaces, and were made in Philadelphia. They usually show more detail and mirror-like finishes.
What makes the 1937 D Three-Legged Buffalo so valuable?
Its rarity and the distinctive die error make it highly sought after. Even lower-grade examples sell for hundreds, with top ones worth six figures.