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How much is a 1937 Buffalo Nickel worth?

The 1937 Buffalo Nickel is a cherished piece of American numismatic history. Its value varies significantly depending on its condition, mint mark, and any unique characteristics it might possess, such as the famous “three-legged” variety. Below is a detailed breakdown of the value of a 1937 Buffalo Nickel, followed by some frequently asked questions to help you better understand this coin’s worth.

Philadelphia Mint (No Mint Mark)

  • Average Condition: A 1937 Buffalo Nickel from the Philadelphia Mint, which lacks a mint mark, typically ranges in value from $1 to $3 in circulated condition.
  • Uncirculated Condition: If the coin is in uncirculated condition (MS60 and above), its value can range from $10 to $40, depending on the grade.

Denver Mint (D Mint Mark)

  • Average Condition: A 1937-D Buffalo Nickel is worth about $1 to $5 in circulated condition.
  • Uncirculated Condition: In uncirculated condition, these coins can be valued from $20 to $50, with higher grades fetching even more.

San Francisco Mint (S Mint Mark)

  • Average Condition: The 1937-S Buffalo Nickel ranges from $1 to $5 in circulated condition.
  • Uncirculated Condition: Uncirculated examples can be worth $20 to $50, with prices increasing for higher-grade coins.

1937-D Three-Legged Buffalo Nickel

  • Average Condition: This variety is famous for a minting error that gives the buffalo the appearance of having only three legs. In circulated condition, this coin can range from $500 to $1,500.
  • Uncirculated Condition: In uncirculated condition, this variety can fetch between $3,000 and $5,000 or more, depending on the grade.

Factors Influencing the Value of a 1937 Buffalo Nickel

Condition (Grade)

The coin’s condition is crucial in determining its value. Coins in better condition (higher grades) are worth more. The grading scale ranges from Poor (P-1) to Perfect Mint State (MS-70).

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Mint Mark

The mint mark indicates where the coin was produced. Coins from the Denver (D) and San Francisco (S) mints can be more valuable than those from the Philadelphia mint.

Rarity

The Three-Legged Buffalo Nickel is much rarer and more valuable than regular 1937 nickels.

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Market Demand

The demand for Buffalo Nickels among collectors can also affect their value. High demand can drive prices up, especially for rarer coins or those in excellent condition.

Determining the Condition

To accurately determine the value of your 1937 Buffalo Nickel, it’s essential to assess its condition. Coins are graded based on the amount of wear, clarity of details, and overall eye appeal. For precise grading and valuation, consider having your coin professionally graded by a reputable service such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).

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Conclusion

The 1937 Buffalo Nickel is a beloved coin with historical significance. Its value can vary widely based on its condition, mint mark, and specific characteristics. For accurate valuation and grading, consulting with a professional or utilizing a coin grading service is recommended.

FAQs About the 1937 Buffalo Nickel

1. What makes a 1937 Buffalo Nickel valuable?

Several factors can make a 1937 Buffalo Nickel valuable, including its condition, mint mark, silver content, and unique features like the three-legged variety. Coins in better condition and those with rarer characteristics tend to be more valuable.

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2. How can I determine the grade of my 1937 Buffalo Nickel?

To determine the grade of your 1937 Buffalo Nickel, you can consult a professional coin grading service such as the PCGS or NGC. These organizations use a standardized scale to grade coins based on their condition, including factors like luster, strike, and preservation.

3. Why is the 1937-D Three-Legged Buffalo Nickel so valuable?

The 1937-D Three-Legged Buffalo Nickel is valuable because it is a rare minting error. The buffalo on the coin appears to have only three legs due to a die polishing error during production. This unique feature makes it highly sought after by collectors.

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4. Where is the mint mark located on a 1937 Buffalo Nickel?

The mint mark on a 1937 Buffalo Nickel is located on the reverse side of the coin, below the denomination “FIVE CENTS.” The presence of a “D” or “S” indicates that the coin was minted in Denver or San Francisco, respectively. If there is no mint mark, the coin was minted in Philadelphia.

5. What should I do if I think I have a valuable 1937 Buffalo Nickel?

If you believe you have a valuable 1937 Buffalo Nickel, it is a good idea to have it appraised by a professional coin dealer or grading service. They can provide an accurate assessment of the coin’s condition and value, and advise you on the best course of action for selling or preserving it.

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