In the world of coin collecting, certain errors transform ordinary coins into extraordinary treasures. One such gem is the 1937-D 3-Legged Buffalo Nickel, a coin that recently garnered significant attention by selling for $16,800 at auction.
This article delves into the coin’s origins, its unique error, and why it holds such value among collectors.
The Origin of the 3-Legged Buffalo Nickel
The Buffalo Nickel, officially known as the Indian Head Nickel, was minted from 1913 to 1938. Designed by sculptor James Earle Fraser, it features a Native American profile on the obverse and an American bison on the reverse.
In 1937, at the Denver Mint, a die used for striking the reverse of the coin was over-polished to remove clash marks. This excessive polishing inadvertently removed most of the buffalo’s front right leg, resulting in the now-famous 3-Legged Buffalo Nickel.
Why Is It So Valuable?
Several factors contribute to the coin’s high value:
- Rarity: The error was caught relatively quickly, limiting the number of coins released into circulation.
- Demand: Collectors highly seek error coins, especially those with such a prominent and easily identifiable mistake.
- Condition: Coins in better condition (higher grades) are significantly more valuable.
Recent Auction Highlights
The 1937-D 3-Legged Buffalo Nickel has seen impressive auction results:
| Grade | Auction House | Sale Price | Date |
|---|---|---|---|
| MS66+ | Legend Rare Coin Auctions | $99,875 | Oct 2021 |
| MS67 | Heritage Auctions | $85,000 | 2016 |
| AU58 | Heritage Auctions | $2,100 | Aug 2022 |
| VF30 | eBay | $1,299 | Recent |
Note: MS (Mint State), AU (About Uncirculated), VF (Very Fine)
Identifying a Genuine 3-Legged Buffalo Nickel
To ensure authenticity:
- Mint Mark: Look for the “D” mint mark below the “FIVE CENTS” on the reverse, indicating it was minted in Denver.
- Missing Leg: The front right leg of the buffalo is almost entirely absent.
- Die Markers: Specific die markers, such as a “moth-eaten” appearance on the buffalo’s back leg and die polishing lines, can help confirm authenticity.
It’s advisable to have the coin graded and authenticated by reputable services like PCGS or NGC.
The 1937-D 3-Legged Buffalo Nickel stands as a testament to how minting errors can create numismatic legends.
Its combination of rarity, distinctiveness, and historical significance makes it a prized possession for collectors.
Whether you’re a seasoned numismatist or a curious newcomer, this coin exemplifies the excitement of coin collecting.
FAQs
How many 1937-D 3-Legged Buffalo Nickels exist?
While the exact number is unknown, it’s estimated that thousands were released before the error was corrected, making them relatively rare.
Can I find a 3-Legged Buffalo Nickel in circulation today?
It’s highly unlikely due to their age and value. Most are in the hands of collectors or have been graded and encapsulated.
How can I get my coin authenticated?
Submit it to professional grading services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) for evaluation and certification.