Buffalo Nickel 1913 - 1938
Buffalo Nickel 1913 - 1938: identify, compare, and value
Use this page to identify details collectors compare, understand value clues, and check current market examples.
Value Guide Summary
Use this page to understand what this collectible is, what details collectors usually compare, and where to check current market examples.
What collectors look for
Original condition, age, maker marks, materials, completeness, unusual variants, and documented history usually matter most.
How to identify examples
Compare markings, construction details, finish, size, period-correct materials, and known design features before assuming authenticity.
Value clues
Rarity, demand, condition, eye appeal, provenance, and whether similar examples are actively selling can all affect market value.
Red flags
Watch for reproductions, heavy restoration, replaced parts, fantasy pieces, unclear photos, and listings with vague descriptions.
During Charles Barber's tenure as Chief Engraver of the U.S. Mint, he faced challenging times. The desire for more classical coin designs, as advocated by Theodore Roosevelt to Augustus Saint-Gaudens in 1905, persisted even after Roosevelt's presidency ended. Barber's uninspiring Liberty Head nickel had been in production since 1883, and the Coinage Act of 1890 mandated a change. Secretary of the Treasury Franklin MacVeagh, originally appointed by Roosevelt, saw an opportunity for transformation. Prompted by his son in May 1911, MacVeagh initiated the process for a new nickel design.
Less than two years later, the Buffalo nickel came to life. On March 4, 1913, the first coins from the initial batch to enter circulation were presented to outgoing President Taft and 33 Indian Chiefs during the groundbreaking ceremonies for the National Memorial to the North American Indian at Fort Wadsworth, New York.
James Earle Fraser, a former assistant to Saint-Gaudens and a renowned artist known for the monumental "End of the Trail" Indian sculpture, crafted a truly distinctive design for the new coin. Prior to this, American coins depicted "Indians" who were essentially Caucasian figures wearing Indian headdresses. Fraser's design accurately portrayed Native Americans, with the obverse portrait being a composite of three chiefs who posed for him. Staying true to the American theme, he featured an American bison on the reverse, skillfully placing inscriptions like UNITED STATES OF AMERICA, E PLURIBUS UNUM, FIVE CENTS, LIBERTY, and the date.
Fraser's design was both artistic and beautiful, a quality that appealed to Secretary MacVeagh but seemed to elude Barber. Barber argued that the design elements were too large and interfered with proper inscription placement. However, Fraser's design prevailed despite objections. Vending machine companies also raised concerns, believing the new coins would not function properly with counterfeit detection devices. Eventually, Secretary MacVeagh instructed the Mint to proceed with the original design and encouraged vending machine companies to adapt their mechanisms to accommodate the coin.
From 1913 to 1938, over 1.2 billion Buffalo Nickels were minted across three mints: Philadelphia (no mintmark), San Francisco (S), and Denver (D). The mintmark can be found on the reverse under the denomination, and the designer's initial "F" appears below the date. Two varieties of Buffalo Nickels were produced, with Type 1 nickels having the denomination FIVE CENTS on a raised mound, but this design was quickly modified due to wear issues in circulation. Barber finally had the opportunity to modify Fraser's design because the Type 1 Buffalo Nickels, produced only during the first few months of 1913, revealed rapid wear on the raised mound where the denomination "FIVE CENTS" was located. This change addressed the concerns of vending machine companies and allowed for smoother circulation.
"FIVE CENTS" On Mound
