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BUFFALO nickels are extremely popular, but a small detail can distinguish between one worth a few hundred bucks and more than $100,000.
These rare nickels were minted by the US from 1913 to 1938.
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They are sometimes called Indian Head nickels because of the image of a Native American individual on the head side of the coin.
The tail side of the coin has a buffalo.
These coins are considered some of the most popular by collectors, but that doesn’t mean they’re easy to come by.
Each Mint made different amounts of the nickels each year, making some more rare than others.
The 1920 Denver nickel is scarce in circulated grades and extremely rare in mint state.
Gem is the best condition a coin can be in, and the 1920-D nickel in that state is rarer than all the 1913 to 1918 nickels, according to the Professional Coin Grading Society.
Coins are graded on a scale of one to 70, and a 1920-D nickel with a score of 67 sold for a record $138,000 at auction.
Another one with a grade of 66 sold for over $97,000 at another auction.
SILVER LINING
Another valuable buffalo nickel is from 1916 and has a rare error.
The coin had a double die error, which is when all or some of the designs on the coin appear twice.
When the metal dies used to imprint designs and images on coins are misaligned, they stamp things on twice in slightly different places.
The date on the 1916 coin is obviously doubled on the coin, making it worth $281,750.
Other buffalo nickels never get over $100,000 but are still worth a pretty penny.
A 1937-D nickel sold on eBay earlier this year for $2,996.
What is a die break or error on a coin?
What causes such defects on coins and why are they so rare to find?
A die break, also known as a cud, is an error on a coin that is formed when a die, (a metallic piece that is used to strike a coin) is missing a piece near the rim.
When dies strike coins, they have a heavy impact and pressure and the metal from the blank part of the coin, known as the planchet, overlaps the area left by the missing piece of the die.
Coins with such deformities are rare thanks to the strict quality control measures at the US Mint.
When such errors do occur, they are often caught and destroyed.
However, those that slip through the net become huge collector’s items worth much more than their face value.
Source: Littleton Coin Company
An error at the Denver mint led to thousands of nickels being minted, and the buffalo was missing one of its legs.
“The 1937-D 3 Legs variety resulted from over-zealous polishing of a worn reverse die. The front foreleg was almost completely removed, and the back leg developed a “moth-eaten” appearance,” said Ron Guth from PCGS.
Unfortunately, thousands of the coins entered circulation before the mistake was caught.
“The 1937-D “three-legged” Buffalo nickel is one of the most famous and most important coins of the 20th century. It is arguably the classic Buffalo nickel,” added David Hall, co-founder of PCGS.
Only 10,000 have survived to this day.
These aren’t the only unique and money-making coins to keep an eye out for as there is a silver coin that’s worth $7,000.
Plus, find out how to spot a penny worth $1,400.
