An Error Worth Minting $350,000: A Mint Grisly of the 1937 Buffalo Nickel: Coins carry stories from the past, some more colorful than others. Such was the case for the 1937 Buffalo Nickel, particularly one rare specimen dubbed the Three-Legged Buffalo Nickel that was minted in Denver. This minting error has excited collectors and enthusiasts alike, even bringing some specimens up to the maximum price of $350,000.
Let’s zoom into the details of this fascinating coin, where to distinguish and identify it, and its place in the numismatic realm.
A $350,000 Minting Mishap: The 1937 Buffalo Nickel Error:
The Three-Legged Buffalo Nickel of 1937-D is a very memorable piece in the American history of numismatics, demonstrating how important quality control is in coin minting. This error coin exemplifies how a simple mistake can produce something very rare and immensely sought after. For the collector, it is history to hold such an item as the Three-Legged Buffalo Nickel.
It does not matter if you classify yourself as a beginner or an expert; knowing how to identify and recognize coin errors such as this will make an individual’s experience in this world a lot brighter. After all, coins like the 1937-D Three-Legged Buffalo do serve as little bundles of dollars to trade among collectors but also a much deeper appreciation of the rich and colorful past of American currency.
| Feature | Details |
|---|---|
| Coin | 1937-D Buffalo Nickel (Three-Legged Error) |
| Minting Error | Missing front right leg of the buffalo due to die over-polishing |
| Value Range | From $685 in Very Fine condition to $350,000 in Mint State 67 |
| Rarity | Approximately 10,000 error coins released, making it a sought-after item among collectors |
| Identification Tip | Examine the buffalo’s front right leg on the reverse side for the presence of the leg |
| Official Reference | 1937-D Three-Legged Buffalo |
Understanding the 1937 Buffalo Nickel
The Buffalo Nickel, referred officially as the Indian Head Nickel, was in production from 1913 to 1938. The coin was designed by James Earle Fraser and features on the obverse a Native American and on the reverse an American bison. The 1937 coinage is famous not only for the artistry on it but also for its associated minting error that has stirred worldwide interest among collectors.
The error in discussion—the Three-Legged Buffalo Nickel—is among the top coin blunders in the history of coinage and one of the most sought-after errors. It was struck at the Denver Mint, and the error occurred while some routine maintenance was being done on the die. Later would collectors notice that something was wrong—a buffalo leg was missing.
A $350,000 Minting Mishap:
The 1937 Buffalo Nickel Error
In 1937, the die maintenance work at the Denver Mint suffered from excessive polishing on the reverse side of this coin. The over-polishing ended up damaging the buffalo’s front right leg, giving rise to the legendary Three-Legged Buffalo Nickel. This error occurred on coins minted at Denver alone for that year, identifiable by a “D” mint mark beneath the buffalo on the reverse.
The excessive polishing had the effect of wearing away most of the leg, the result being the buffalo was left with an incomplete image. The fact remains, however, that although the 1937-D was indeed an error highly coveted in numismatics, it was, for a time, virtually unknown to the general public. Many circulated for years before collectors began to notice the missing leg and appreciate its rarity.
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Identifying the Three-Legged Buffalo Nickel
Instructions for determining whether you have a Three-Legged Buffalo Nickel:
- Find the Mint Mark: On the reverse side of the coin, there will be a “D” mint mark below the buffalo. This means that it is a Denver mint coin.
- Look at the legs of the buffalo: On the reverse side, look at the buffalo’s front right leg (the leg closest to the viewer). This leg will be absent on the error coins, as a result of over-polishing the die.
Visual Guide:
An accurate visual inspection can best define this error. The buffalo would appear incomplete or misshaped in the leg area because of one missing leg-a characteristic not found in normal Buffalo Nickels from that year. Compare the reverse of the coin to high-resolution photos of other identified error coins for verification.
Valuables and Rare:
One great difference about 1937-D Three-legged Buffalo Nickel is that it varies in value depending on condition. Its value increases with the purity of the coin. Here are some rough estimates:
- Very Fine (VF): From coins with noticeable wear and clear features, the value goes for about $685.
- Mint State 67 (MS67): Investment-grade coins can command prices up to $350,000 at these high levels, making them some of the most valuable coins in American numismatic history.
Estimates suggest that around 10,000 error coins went into circulation. This makes the 1937-D Three-Legged Buffalo Nickel quite rare, especially in high condition. Its rarity is one of the primary considerations in the very high value placed on the coin, particularly amongst collectors who seek coins with outstanding features.
Many of these error coins likely went unnoticed for years since the missing leg was not an obvious visual cue. This subtleness has only added to its rarity in good condition and these are then just another reason as to why a collector wants it.
Other Notable Buffalo Nickel Errors
Among the most well-known errors,
Three-Legged Buffalo is by no means an exclusive one:
The Buffalo nickels of 1918 have been overdated with a “7” for some pieces minted in Denver–where the “8” has been tamped over a “7” in forming “1918/7”.
These coins are extremely valuable, well-preserved examples selling for as much as about $258,000. Such type pieces were double-died for, on a typical example of the 1916 Buffalo Nickel, clear doubling is visible of both the date and lettering on the obverse due to misalignment when being minted. In near-uncirculated shape, specimens of these can fetch around $281,750.
Buffalo Nickels for All Crazy errors in the Invaluable Worth are really valuable coins for all seekers.
Collector’s Tips
For all who are interested in either collecting or verifying error coins, this is for you:
- Authentication
Get valuable rare coins authenticated from professional numismatists or grading services. Most fakes or adulterated coins are passed off as genuine coins going by the eyewitness angle. The website American Numismatic Association links you to reputable dealers or experts. - Condition Value
Error coins are greatly valued according to their condition. Typically, coins without significant wear lighten the value on their clean attributes. Should you ever come across a 1937-D Three-Legged Buffalo, strive to keep it intact by storing it properly. - Market Research
Market trend and any auction result keeping you on alert also give you an understanding of the ever-changing value attached to these coins. Many collectors and investors use sites like Heritage Auctions or Stack’s Bowers to watch prices and buy great coins.
Keep an eye on these particulars to even make sure that you are making wise investments in the coin world.
FAQS:
How do I know if my 1937 Buffalo Nickel is a Three-Legged error?
To identify a Three-Legged Buffalo Nickel, you have to look at the back of the coin. If there is a missing front right leg of the buffalo (the one closer to the viewer) with a D “mint-mark” under the buffalo, chances are high you have an error coin.
Is every 1937 Buffalo Nickel valuable?
The answer is that all coins have some values that can be determined by their hand, but the 1937-D Three-Legged Buffalo Nickel has got its value mostly from the nature of their rarity because of the mint error. All the other types of Buffalo Nickels of 1937 have a price, but usually much lower than those with a mint error of this particular date.
Where can I sell or appraise my Buffalo Nickel?
You need to check up with the professional numismatists, worthy coin dealers, or grading services to appraise and sell your coin. You may also check sites like eBay or auction houses like Heritage Auctions to sell your coin.
How many 1937-D Three-Legged Buffalo Nickels were struck?
It has been estimated that less than around 10,000 of these error coins went into circulation, making them particularly hard to find, especially in high grades.