The 1937 Buffalo Nickel Error- A $350,000 Minting Mishap

Coin collecting is a fascinating pursuit that often uncovers items of significant historical and monetary value. Among these, the 1937-D Three-Legged Buffalo Nickel stands out as a remarkable example of a minting error that has captivated collectors and investors alike.

This coin’s unique characteristics and the story behind its creation make it a prized possession in the numismatic world.

Understanding the 1937-D Three-Legged Buffalo Nickel

The Buffalo Nickel, minted from 1913 to 1938, is celebrated for its depiction of American heritage, featuring a Native American on the obverse and a buffalo on the reverse. In 1937, a notable error occurred at the Denver Mint, resulting in the Three-Legged Buffalo Nickel.​

• Minting Error Origin: During routine die maintenance, an overzealous mint employee excessively polished the reverse die. This over-polishing inadvertently removed the buffalo’s front right leg, leading to the distinctive three-legged appearance.​
• Identification: Authentic 1937-D Three-Legged Buffalo Nickels bear a “D” mintmark below the buffalo on the reverse. The absence of this mintmark on a coin exhibiting the three-legged error may suggest a different origin or potential authenticity concerns.

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)$685Mint State 67 (MS67)Up to $350,000

​Values are approximate and can fluctuate based on market demand and coin condition.​

Other Notable Buffalo Nickel Errors

Beyond the three-legged variant, several other Buffalo Nickels have garnered attention due to unique errors:

1. 1918/7-D Overdate Error:
   • Description: Some 1918 Buffalo Nickels minted in Denver exhibit an overdate error, where the “8” is stamped over a “7,” resulting in “1918/7.”​
   • Value: These coins are highly sought after, with well-preserved examples commanding prices around $258,000.​
2. 1920 Denver Nickel:
   • Description: A high-grade 1920 Buffalo Nickel minted in Denver is notably rare.​
   • Value: A specimen graded MS66 sold for over $97,000.​
3. 1916 Double Die Error:
   • Description: The 1916 Buffalo Nickel features a noticeable doubling of the date and lettering on the obverse due to a misalignment during minting.
   • Value: In excellent condition, these coins can command prices around $281,750.

The 1937-D Three-Legged Buffalo Nickel exemplifies how a minting error can transform an ordinary coin into a valuable collector’s item.

Understanding the origins, identification, and valuation of such coins enhances the appreciation for numismatics and the rich history encapsulated within these small artifacts.​

FAQs

How can I authenticate a 1937-D Three-Legged Buffalo Nickel?

Examine the reverse side for the “D” mintmark below the buffalo. Ensure the coin exhibits the three-legged error due to die over-polishing. Consulting a professional numismatist or utilizing grading services is recommended for verification.​

Are all 1937 Buffalo Nickels valuable?

While all coins have intrinsic value, the 1937-D Three-Legged variant is particularly valuable due to its rarity and the unique nature of the minting error. Standard 1937 Buffalo Nickels are generally valued based on their condition and presence of mintmarks.​

Where can I sell rare coins like the 1937-D Three-Legged Buffalo Nickel?

Consider reputable coin dealers, numismatic auctions, or online platforms specializing in coin sales. It’s advisable to obtain a professional appraisal to accurately assess the coin’s value before selling.