Error for Graft of $350,000 A Mint Error of the 1937 Buffalo Nickel: Coins carry the story of yesteryear, some brighter than others. And so also was the case with the 1937 Buffalo Nickel, especially with a rare specimen called the Three-Legged Buffalo Nickel-the one coin minted in Denver. This error during minting has set the collectors and enthusiasts in a stir-it has pulled prices of some specimens to about a whopping $350,000.
This article will zoom in on the details of this fascinating coin, where to differentiate and identify it, and its standing in the world of numismatics.
$350,000 Minting Mishap: 1937 Buffalo Nickel Error:
The 1937-D Three-Legged Buffalo Nickel is a very memorable piece in the American history of numismatics, illustrating the importance of quality control in coin manufacture. This error coin teaches us how one tiny mistake can create something rare and immensely sought after. For a collector, it is history to hold such an item as the Three-Legged Buffalo Nickel.
Be you a greenhorn or a seasoned collector-the ability to identify and appreciate coin errors such as this definitely brightens one’s life in this world. After all, coins such as the 1937-D Three-Legged Buffalo are little pocket fuls of dollars that are traded amongst collectors, but they represent a much deeper appreciation for the rich and colorful past of American currency.
| Feature | Details |
|---|---|
| Coin | 1937-D Buffalo Nickel (Three-Legged Error) |
| Minting Error | Missing front right leg of the buffalo due to die over-polishing |
| Value Range | From $685 in Very Fine condition to $350,000 in Mint State 67 |
| Rarity | Approximately 10,000 error coins released, making it a sought-after item among collectors |
| Identification Tip | Examine the buffalo’s front right leg on the reverse side for the presence of the leg |
| Official Reference | 1937-D Three-Legged Buffalo |
The 1937 Buffalo Nickel – An Overview
The Buffalo Nickel, properly called the Indian Head Nickel, was minted from 1913-1938. Designed by James Earle Fraser, the coin features a Native American on the obverse and an American bison on the reverse. The 1937 coinage is famous not only for its designs but also for the minting error connected to it, one that has stirred international interest among collectors.
The newly given name to the error, the Three-Legged Buffalo Nickel, constitutes one of the top coin blunders in all coinage history and ranks among the most sought-after errors anywhere. It was done at the Denver Mint, during which some routine maintenance was being conducted on the die, and collectors would soon realize that something was not right-a buffalo leg was missing.
A costly Minting mistake of $350,000:
The Faulty 1937 Buffalo Nickel
Excessive polishing at the reverse side of this coin in 1937 affected the die maintenance work at the Denver Mint. It ended up damaging the buffalo’s front right leg, giving rise to the legendary Three-Legged Buffalo Nickel. Such an error occurred on coins minted at Denver alone that year; they could be identified by a “D” mint mark beneath the buffalo on the reverse.
Most of the leg were worn away due to excessive polishing, thereby, leaving the buffalo with an incomplete image. The longer fact remains, although, and while the 1937-D will most probably be identified as an error that’s highly coveted in numismatics; for a time, it would have been almost completely unknown to the general public. Many even circulated for years before collectors happened to notice the missing leg and appreciate its rarity.
Identifying the Three-Legged Buffalo Nickel
Instructions for determining whether you have a Three-Legged Buffalo Nickel:
- Find the Mint Mark: On the reverse side of the coin, there will be a “D” mint mark below the buffalo. This means that it is a Denver mint coin.
- Look at the buffalo’s legs: Check the buffalo’s front right leg (the leg closest to view) on the reverse side. This leg will not be present on error coins due to excessive polishing of the die.
Visual Guide:
The error can easily be defined by a very accurate visual check. The buffalo appears incomplete or mis-shaped in the leg area because one leg is missing, and this is not a feature of normal Buffalo Nickels of that year. Undergo comparison of the reverse of such coins with high-resolution photos of other identified error coins to verify the same.
Valuables and Rare:
One significant difference in the case of 1937-D Three-legged Buffalo Nickel is that it varies based on its condition. The value depends on how pure the coin is. A few rough estimates could be:
- Very Fine (VF): from coins with some wear and definition, worth about $685.
- Mint State 67 (MS67): Investment-grade coins can command prices up to $350,000 at these high levels, making them some of the most valuable coins in American numismatic history.
Estimates range from 8,000 to 10,000 error coins that entered circulation across America. Hence, the 1937-D Three-Legged Buffalo Nickel is rare really in high grade. Certainly, this rarity is important among the various reasons attached to high value for the coin, especially among collectors hunting for outstanding feature coins.
Most probably, very few of these error coins were notice:
Among the most famous errors is the Three-Legged Buffalo, but it is by no means the only one.
Some Buffalo nickels of the year 1918 are known to have a “7” overdate for pieces that were minted in Denver- where the “8” was tamped over a “7” in forming “1918/7”.
Though there are some exceptional :
$258,000 in price, these coins can go that high. These were the types whose double dies, as in a common case of 1916 Buffalo Nickel, display very clear doubling of both the date and the lettering on the obverse because of misalignment during striking. Near-uncirculated examples of such coins can be sold for as high as $281,750.
Buffalo Nickels in the Invaluable Worth insane errors are indeed very sought-after coins for all treasure hunters.
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Collector’s Tips
All interested parties, whether collectors or verifiers of error coins, take note:
Authentication
Submit rare coins for authentication by professional numismatists or grading services. Most fraudulent or altered coins are unwittingly represented by eyewitnesses. The American Numismatic Association website will link you with reputable dealers or authorities.
Condition Value
Error coins are valued in great amounts according to the states of their condition. Normally, coins that have little to no wear will depreciate in value and gain a premium based on their cleaned aspects. If you ever come across a 1937-D Three-Legged Buffalo, attempt to make use of it by safe storage.
Market Research
Market trend and any auction result keeping you on alert also gives you an insight into the ever-changing value attached to these coins. Many collectors and investors use Heritage Auctions, Stack’s Bowers, etc., to track prices and buy important coins.
Keep an eye on these particulars to even make sure that you are making wise investments in the world of coins.
FAQS:
What makes the 1937 Buffalo Nickel error coin so valuable?
The 1937 Buffalo Nickel error, particularly the “3-legged Buffalo” type, is a minting error providing the coin with the odd feature of missing one of the buffalo’s front legs. The rarity and distinctiveness are its points of attraction for any collector.
How do I check if I have the 1937 3-legged Buffalo Nickel?
Check very closely on the reverse (buffalo side) of the coin. The genuine error coin would show the absence of the buffalo’s front right leg, although a faint indication of the hoof may still be present. It might also have signs of die polishing.
Is the $350,000 real value?
Yes, well-preserved and high-graded specimens of the 1937 3-legged Buffalo Nickel actually sold for as much as $350,000 at an auction. The value of a particular coin is dependent on the condition, the grading, and rarity of that coin.