Coin collecting is a truly captivating hobby which frequently results in the discovery of objects that are significant historically, as well as monetarily. One of these types of coins is the 1937-D Three-Legged Buffalo Nickel, which is an incredible case of a minting flaw that has appealed to both collectors and investors. Its unique features and story make this coin a valuable addition to any numismatic collection.
Understanding the 1937-D Three-Legged Buffalo Nickel
The Buffalo Nickel was in circulation between 1913 and 1938, and is well-known for its identification with American history, as it features a Liberty Native American on the obverse and a buffalo on the reverse. In 1937, a mint error occurred, originating in Denver, resulting in the Three-Legged Buffalo Nickel.
Minting Error Origin
While performing routine maintenance on the die during a minting process, a zealous employee at the mint went a little too far in polishing the reverse die and removed the buffalo’s front right leg, which is why it has a three-legged appearance. The die was put into use before anyone noticed the error, which makes the coin rare and very desirable among collectors.
Identification
Genuine 1937-D Three-Legged Buffalo Nickels display a “D” mintmark under the buffalo on the reverse, indicating that they were minted in Denver. In addition to the missing leg, another feature of error coinage is a slight elongation of the buffalo’s hoof, which can be observed as a small mark just above where the leg would be. A coin showing the three-legged error that is missing the mintmark may indicate a different mint or concerns about its authenticity.
Value and Rarity
The value of the 1937-D Three-Legged Buffalo Nickel varies based on its condition, with high-grade specimens fetching substantial sums.
Estimated Values:
- Condition
- Estimated Value
- Very Fine (VF)
- $685
- Mint State 67 (MS67)
- Up to $350,000
Values are approximations and depend on market demand, condition of the coins and bidding that occurs. Because of the inherent popularity of the coin, demand will often produce ongoing interest and sometimes intense levels of competitive bidding at numismatic auctions. Other Notable Buffalo Nickel Errors
Beyond the three-legged variant, several other Buffalo Nickels have garnered attention due to unique errors:
1918/7-D Overdate Error
- Summary: The 1918 Buffalo Nickels that were minted in Denver are sometimes discovered to have an overdate error. The date on some of the coins reads “1918/7” where the “8” has been stamped over the “7.” This error happened because an old die was used which had been resurfaced incorrectly.
- Value: These coins are valuable and can sell for nearly $258,000 for well-circulated grades. Their value is based on their rarity since very few of the misstruck dies were put into circulation.
1920 Denver Nickel
- Details: A high-grade 1920 Buffalo Nickel struck in Denver is especially rare since fewer were made, and it is difficult to find one in decent condition.
- Value: An MS66 example sold for more than $97,000, indicating that the condition of a coin makes a huge difference in value.
1916 Double Die Error
- Description: The 1916 Buffalo Nickel has a unique error on the obverse with a very obvious doubling of date and lettering. The cause was due to a misalignment during the minting process of the coin, leading to a shadowed appearance seen most clearly on the numerals and letters.
- Value: In excellent states, these coins sell for around $281,750, making them one of the most valuable Buffalo Nickels.
Tips for Identifying Rare Buffalo Nickels
For the collectors who are looking for key Buffalo Nickels, here are some of the most important ways to identify value:
- Use a Loupe: Many errors, such as doubled dies and overdates, need to be scrutinized through magnification.
- Look for Full Horn Details: Higher-grade Buffalo Nickels have a fully visible horn on the animal. Lack of wear translates to more value.
- Examine for Die Variations: Knowing some of the key diagnostics, for example, if they have misplaced mintmarks, or to know if it is a re-punched date, will help identify more rare coins.
- Check for Authenticity: Because these error coins are so valuable, there are counterfeits. Trying to identify with no experience will contribute to possible financial loss. Small purchase if possible, and always suggest using a reputable dealer, or at least a grading service, such as, PCGS, or NGC.
The Appeal of the 1937-D Three-Legged Buffalo Nickel
An outstanding example of how a simple minting error can turn an ordinary coin into a coveted collectible is the 1937-D Three-Legged Buffalo Nickel. This coin underscores the complexities of the minting process and the excitement of ultra-high-end rarities.
The more one understands the origins, identification, and valuation of these coins, the more one can appreciate the field of numismatics as well as the fascinating history these coins embody in a small artifact. No matter if you are an experienced collector or a bright-eyed interested party, the sheer enjoyment of stumbling upon one of these rarified coins and minting errors is always something enjoyable about coin collecting.
FAQs
1. What is the 1937 Buffalo Nickel error?
The most famous error for the 1937 Buffalo Nickel is the 1937-D “Three-Legged” Buffalo Nickel, where the front right leg of the buffalo is missing due to excessive die polishing at the Denver Mint.
2. Why is the 1937-D Three-Legged Buffalo Nickel valuable?
Its rarity and demand among collectors make it highly valuable. Well-preserved specimens can sell for thousands, and top-condition coins have reached prices of up to $350,000 at auction.
3. How can I tell if I have a Three-Legged Buffalo Nickel?
Look at the buffalo’s front right leg—if it appears missing or extremely faint, you may have this error coin. Other signs include weak details around the hoof and a slightly grainy texture in the leg area.
4. Where can I sell a rare 1937 Buffalo Nickel?
You can sell it through coin dealers, online marketplaces (eBay, Heritage Auctions), or numismatic auctions. Having the coin authenticated by PCGS or NGC can significantly increase its value.
5. Are all 1937 Buffalo Nickels rare?
No, only the 1937-D Three-Legged variety is considered rare. Regular 1937 Buffalo Nickels from Philadelphia, Denver, and San Francisco are more common and generally not worth as much.