Is Your Coin Worth $350,000: The 1937-D Three-Legged Buffalo Nickel is one of the most fascinating and valuable error coins in U.S. history. Its unique design flaw, combined with its rarity, has made it a prized collectible worth up to $350,000 in pristine condition. Whether you’re a seasoned numismatist or someone just discovering the treasure trove of coins in your collection, this article will help you uncover the secrets of this extraordinary nickel and guide you through the process of identification, valuation, and even selling.
1937 Three-Legged Buffalo Nickel
| Feature | Details |
|---|---|
| Coin Name | 1937-D Three-Legged Buffalo Nickel |
| Minting Error | Missing front right leg of the buffalo due to die over-polishing |
| Estimated Value | $685 (Very Fine) to $350,000 (Mint State 67) |
| Mint Location | Denver Mint |
| Authentication Tips | Look for the “D” mint mark, missing leg, and die-polishing marks |
| Official Resources | Professional Coin Grading Service (PCGS) |
The 1937-D Three-Legged Buffalo Nickel is more than just a rare error coin; it’s a piece of American history that continues to captivate collectors worldwide. Whether you’re an enthusiast or a curious novice, understanding the story, value, and authentication process behind this coin could lead you to a treasure worth thousands or even hundreds of thousands of dollars.
What Makes the 1937-D Three-Legged Buffalo Nickel Special?
This rare nickel isn’t just a result of a mistake—it’s a piece of American history. The Buffalo Nickel, designed by sculptor James Earle Fraser, was minted from 1913 to 1938. It celebrated the country’s heritage with a Native American portrait on the obverse and an American bison on the reverse.
In 1937, the Denver Mint inadvertently created the Three-Legged Buffalo Nickel during routine die maintenance. Over-polishing of the die removed the buffalo’s right front leg, leaving only three legs visible on the reverse side. This error went unnoticed until thousands of coins had already entered circulation. While mint errors are not uncommon, few reach the iconic status of the Three-Legged Buffalo Nickel, making it a must-have for serious collectors.
Collectors and history enthusiasts alike cherish this coin for its rarity, its backstory, and its incredible value in today’s market. With its combination of historical significance and unique appeal, this coin has earned a prominent place in numismatics.
How Much Is the 1937-D Three-Legged Buffalo Nickel Worth?
The value of this coin depends on its condition. Here’s a breakdown of estimated prices:
Circulated Grades
- Very Fine (VF): $685
- Extremely Fine (XF): $875
- About Uncirculated (AU): $1,450
Uncirculated Grades (Mint State)
- MS61: $2,500
- MS63: $5,750
- MS65: $26,000
- MS67: Up to $350,000
Collectors are willing to pay a premium for coins in exceptional condition, especially those graded by professional services like PCGS or NGC. These organizations provide a certification of authenticity and a precise grade that significantly enhances the coin’s value. A coin in Mint State 67 condition, for example, has fetched record-breaking prices due to its pristine quality and rarity.
When evaluating your coin, it’s crucial to understand that even slight wear can dramatically reduce its value. However, coins with distinctive error characteristics often hold their value regardless of minor imperfections.
How to Identify a 1937-D Three-Legged Buffalo Nickel
To confirm if you have this rare treasure, follow these steps:
1. Check for the “D” Mint Mark
Look beneath the words “FIVE CENTS” on the reverse side of the coin. The letter “D” indicates it was minted in Denver. This mark is an essential identifier and distinguishes this coin from Buffalo Nickels minted in other locations.
2. Examine the Buffalo’s Front Leg
The most distinctive feature of this coin is the missing right front leg of the buffalo. Instead of a full leg, you’ll notice an empty space. The absence of this leg was caused by excessive polishing of the die to remove damage or wear, inadvertently erasing the leg from the design.
3. Look for Die Polishing Marks
Authentic coins display signs of heavy polishing on the die. You may see a “moth-eaten” appearance on the buffalo’s back leg and a cloudy area beneath its belly. These subtle details are key indicators of authenticity and help distinguish genuine coins from counterfeits.
4. Avoid Counterfeits
Be cautious of fakes! Some altered coins mimic the missing leg by intentionally removing it. Professional authentication is the best way to verify your coin’s legitimacy. Look for expert grading services like PCGS or NGC to ensure your coin is genuine and accurately graded.
Why Are Error Coins Like This So Valuable?
Error coins often become highly sought after because of their rarity and the story behind their creation. The 1937-D Three-Legged Buffalo Nickel is a classic example of how a mistake can turn into a collector’s dream.
Factors That Influence Value:
- Rarity: Limited numbers in circulation.
- Historical Significance: Connection to minting processes and U.S. history.
- Condition: Coins with minimal wear fetch the highest prices.
- Demand: Strong interest from collectors drives up value.
Another factor contributing to the value of the Three-Legged Buffalo Nickel is its ability to spark intrigue among both collectors and casual hobbyists. Its origins—rooted in human error—add an element of mystery and charm, making it more than just a coin but a piece of Americana.
How to Sell a 1937-D Three-Legged Buffalo Nickel
If you believe you own this rare coin, follow these steps to maximize its value:
1. Authenticate Your Coin
Have your coin graded by a reputable service like PCGS or NGC. This provides buyers with confidence in the coin’s authenticity and condition. Authentication not only helps you achieve a fair market value but also protects you from potential disputes during the selling process.
2. Research Market Trends
Check recent auction results and dealer prices to get an idea of your coin’s worth. Websites like Heritage Auctions and PCGS Price Guide are great resources. Understanding market trends ensures you’re informed and prepared when negotiating.
3. Choose a Selling Platform
Options include:
- Auctions: Reach a broad audience but may involve fees.
- Dealers: Quick sales but potentially lower offers.
- Online Marketplaces: Platforms like eBay can connect you with collectors directly.
Each platform has its advantages. For example, auctions may yield higher prices for exceptional coins, while dealers offer convenience and immediate payment.
4. Preserve the Coin’s Condition
Store the coin in a protective case and avoid handling it with bare hands to prevent damage. Even minor scratches or smudges can affect its value, so proper care is essential.
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Frequently Asked Questions About 1937 Three-Legged Buffalo Nickel
Q: What causes an error like the Three-Legged Buffalo Nickel?
A: Minting errors often occur during die maintenance. In this case, over-polishing the die removed the buffalo’s leg. Errors like this highlight the human element in coin production and contribute to their allure.
Q: How can I ensure my coin isn’t counterfeit?
A: Look for the “D” mint mark, die-polishing characteristics, and consult a professional grading service for authentication. Avoid purchasing from unverified sources and always request certification when buying rare coins.
Q: Where can I sell my 1937-D Three-Legged Buffalo Nickel?
A: Consider online auctions, coin dealers, or marketplaces like eBay. Professional appraisal is recommended before selling. Reputable coin shows and conventions can also connect you with buyers and experts.
Q: Are there other valuable Buffalo Nickels?
A: Yes, coins like the 1916 Doubled Die Obverse and the 1913-S Type 2 are also highly prized. These coins, like the Three-Legged Nickel, hold their value due to rarity and historical significance.
