1937-D Buffalo Nickel- A Rare Gem in U.S. Coinage History

The 1937-D Buffalo Nickel stands as a remarkable piece in the annals of U.S. numismatics.

Minted at the Denver Mint, this coin is celebrated not only for its artistic design but also for its intriguing varieties and the unique history that surrounds it.

Historical Background

Introduced in 1913, the Buffalo Nickel, also known as the Indian Head Nickel, was designed by James Earle Fraser. It features a Native American chief on the obverse and an American bison on the reverse.

The 1937-D issue was part of a series produced during the Great Depression, a period that significantly influenced the coin’s design and production.

Design and Features

The 1937-D Buffalo Nickel showcases Fraser’s iconic design:

• Obverse: Depicts a Native American chief, symbolizing the nation’s indigenous heritage.
• Reverse: Features an American bison, representing the American frontier.

The coin’s composition is 75% copper and 25% nickel, with a diameter of 21.2 mm and a weight of 5 grams.

Mintage and Rarity

In 1937, the Denver Mint produced approximately 17,826,000 Buffalo Nickels. While this mintage is relatively high, certain varieties, such as the “3-Legged” Buffalo Nickel, are exceedingly rare and highly sought after by collectors.

The “3-Legged” Buffalo Nickel

One of the most famous varieties of the 1937-D Buffalo Nickel is the “3-Legged” variety. This error occurred due to overzealous polishing of the reverse die, resulting in the removal of the buffalo’s front leg. Only a limited number of these coins were released into circulation, making them exceptionally rare and valuable.

Value and Collectibility

The value of a 1937-D Buffalo Nickel varies based on its condition and rarity. Coins in uncirculated (MS+) condition can command prices ranging from $42 to $55 or more. The “3-Legged” variety, due to its rarity, can be worth significantly more, with prices reaching up to $121,750 for a coin graded MS-67.

Grading and Authentication

Proper grading is essential for determining a coin’s value. The Sheldon scale, ranging from 1 to 70, is commonly used, with higher numbers indicating better condition.

Professional grading services, such as the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC), offer authentication and grading services to ensure the coin’s legitimacy and condition.

Preservation and Care

To maintain the coin’s value, proper storage is crucial. Coins should be kept in a cool, dry environment, away from direct sunlight and humidity. Using acid-free holders and gloves when handling can prevent damage and preserve the coin’s condition.

1937-D Buffalo Nickel Varieties and Values

Variety	Description	Estimated Value (as of February 2025)
Standard Issue	Regular 1937-D Buffalo Nickel without any minting errors.	$1.84 in average condition; $42 to $55 in uncirculated condition.
“3-Legged” Variety	Buffalo Nickel with the front leg missing due to overzealous polishing.	$599 in average condition; $2,208 to $5,106 or more in uncirculated condition.

Note: Coin values are subject to change based on market conditions and collector demand.

The 1937-D Buffalo Nickel, particularly the “3-Legged” variety, remains a coveted item among numismatists and collectors. Its unique design, historical significance, and the rarity of certain varieties contribute to its enduring appeal and value in the world of coin collecting.

FAQs

What is the “3-Legged” Buffalo Nickel?

The “3-Legged” Buffalo Nickel is a rare variety of the 1937-D issue, where the buffalo’s front leg is missing due to overzealous polishing of the reverse die during minting.

How can I determine the value of my 1937-D Buffalo Nickel?

The value depends on the coin’s condition and rarity. Consulting a professional grading service or referring to reputable numismatic price guides can provide an accurate assessment.

Are all 1937-D Buffalo Nickels valuable?

While all 1937-D Buffalo Nickels have value, those in uncirculated condition or possessing rare varieties, like the “3-Legged” type, are significantly more valuable.