A rare 1916 Buffalo Nickel was recently discovered tucked away in a vintage cigarette case belonging to a late grandfather.
This unexpected find has turned out to be a numismatic treasure, potentially worth thousands of dollars.
The Discovery: A Hidden Treasure
While sorting through his grandfather’s belongings, a man stumbled upon an old cigarette case. Inside, he found a 1916 Buffalo Nickel, a coin that has become highly sought after by collectors.
Understanding the 1916 Buffalo Nickel
The Buffalo Nickel, also known as the Indian Head Nickel, was minted from 1913 to 1938. The 1916 edition is notable for its design and historical significance.
Key Features:
- Obverse Design: Features a Native American profile.
- Reverse Design: Depicts an American bison.
- Composition: 75% copper and 25% nickel.
- Diameter: 21.2 mm.
- Weight: 5 grams.
Mint Marks and Their Significance
In 1916, the Buffalo Nickel was minted in three locations:
- Philadelphia (no mint mark): Produced 63,498,066 coins.
- Denver (D): Produced 13,333,000 coins.
- San Francisco (S): Produced 11,000,000 coins.
Coins from Denver and San Francisco are generally more valuable due to their lower mintage numbers.
The 1916 Doubled Die Obverse Error
One of the most valuable varieties of the 1916 Buffalo Nickel is the Doubled Die Obverse. This error occurred during the minting process, resulting in a noticeable doubling of the date and other features on the coin’s obverse.
Value of the Doubled Die Obverse:
- Circulated Condition: Valued between $3,000 and $47,500.
- Uncirculated Condition: Can fetch up to $105,000 at auction.
Grading and Valuation
The value of a 1916 Buffalo Nickel depends on its condition and mint mark.
Value Chart:
| Condition | 1916 (No Mint Mark) | 1916-D | 1916-S |
|---|---|---|---|
| Good | $3.03 | $14 | $8.45 |
| Fine | $4.98 | $18 | $18 |
| Extremely Fine | $9.10 | $48 | $51 |
| Uncirculated | $40 | $119 | $164 |
The discovery of a 1916 Buffalo Nickel in a grandfather’s cigarette case highlights the potential value hidden in everyday items.
Collectors and enthusiasts should be aware of the significance of mint marks and errors like the Doubled Die Obverse, which can substantially increase a coin’s value.
FAQs
How can I identify a Doubled Die Obverse Buffalo Nickel?
Look for noticeable doubling in the date and other features on the coin’s obverse.
Where is the mint mark located on a Buffalo Nickel?
The mint mark is located on the reverse side, beneath the words “FIVE CENTS.”
What should I do if I find a rare coin?
Consult with a professional coin appraiser or numismatist to assess its value and authenticity.