Millions of nickels with rare ‘overdate’ details are still in circulation, and collectors have sold some for as much as $258,000. These errors make certain Buffalo Nickels especially valuable. Learning to spot these rare nickels can help you understand their value and historical importance.
The First World War led to a shortage of coins, which eventually resulted in these unique nickels entering circulation. Two of the most famous error varieties are the 1918/7-D overdate Buffalo Nickel and the 1937-D three-legged Buffalo Nickel. These coins have caught the attention of collectors and can sell for thousands of dollars in auctions.
Table: Value and Details of Rare Buffalo Nickels
| Nickel Type | Unique Feature | Record Sale Price | Year Discovered |
|---|---|---|---|
| 1918/7-D Overdate | 7 beneath 8 in date | $258,000 | 1930s |
| 1937-D Three-Legged | Missing front leg on buffalo | $99,875 | Late 1930s |
Historical Background
During WWI, American mints ramped up nickel production to meet increased demand, especially as American soldiers took coins overseas. In the rush, some nickels were mistakenly stamped with the 1917 date, then restamped with 1918. This error, known as an “overdate,” left the ‘8’ in ‘1918’ with a flat top, where a ‘7’ originally appeared. This design mistake wasn’t spotted until the 1930s, by which time Buffalo Nickels had become popular among collectors.
What Makes the Overdate and Three-Legged Nickels Valuable?
Several factors contribute to the high value of these nickels:
- Rarity: Few nickels with these errors exist today, especially in good condition.
- Historical Value: The overdate error from WWI and the three-legged error both capture unique moments in minting history.
- Collector Demand: The unusual appearance and scarcity make them highly collectible and valuable.
Famous Sales and Values
The record sale for a 1918/7-D overdate Buffalo Nickel is $258,000. Collectors consider it a rare find due to its unique date misstamp. Another highly sought-after Buffalo Nickel is the 1937-D version with a missing front leg on the buffalo, known as the “three-legged” variety. In 2021, one of these coins sold for nearly $100,000 in excellent condition.
How to Spot an Overdate Buffalo Nickel
The 1918/7-D overdate Buffalo Nickel has a ‘7’ under the ‘8’ in ‘1918,’ which you can see if you look closely at the date. Collectors should also look for signs of wear, as high-grade examples fetch much higher prices.
How to Spot a 1937-D Three-Legged Nickel
To identify this error coin:
- Look for the missing front leg on the buffalo.
- Check for a “D” mint mark underneath the buffalo, indicating it was minted in Denver.
- Be aware of counterfeit coins, as the 1937-D three-legged nickel is a well-known collectible.
Conclusion
Finding a rare Buffalo Nickel can be exciting and profitable. With careful inspection, you may discover an overdate or three-legged nickel among your spare change. Collectors value these coins for their historical significance and unique design flaws, making them some of the most sought-after collectibles in U.S. coin history. If you think you have one, consult a coin expert to confirm its authenticity and value. Investing time in learning about rare coins can be both rewarding and fun for any coin enthusiast.
FAQ’s
Why are Buffalo Nickels valuable?
Buffalo Nickels with errors, like the overdate or missing leg, are rare and in high demand among collectors.
How can I tell if I have an overdate Buffalo Nickel?
Check the date. If you see a faint ‘7’ under the ‘8’ in 1918, it’s an overdate.
Are there other rare Buffalo Nickel varieties?
Yes, another famous variety is the 1937-D three-legged nickel, where one of the buffalo’s legs is missing.