The 1937-D Three-Legged Buffalo Nickel is one of the most fascinating and valuable coins in the world of coin collecting. This rare error coin has become a highly sought-after item for collectors, with some examples being sold for over $95,000 at auction. But what makes this coin so special, and how can collectors identify it? Let’s explore its origins, features, and value.
Origins of the 1937-D Three-Legged Buffalo Nickel
The Buffalo Nickel, also known as the Indian Head Nickel, was produced from 1913 to 1938. Designed by artist James Earle Fraser, the coin features a Native American’s profile on the front and an American bison on the back.
In 1937, at the Denver Mint, an error occurred when a worn-out die was over-polished. This polishing caused the front right leg of the bison to be removed, creating the famous “Three-Legged” version of the coin.
Although the error wasn’t noticed at first, it allowed many of these coins to circulate. As a result, they became a rare and valuable discovery among collectors.
Identifying Features of the 1937-D Three-Legged Buffalo Nickel
There are a few key features that make the 1937-D Three-Legged Buffalo Nickel easy to spot:
- Missing Front Leg: The bison’s front right leg is completely absent, though the hoof is still visible.
- Weak Rear Leg: The bison’s rear leg often looks faint or damaged due to the die polishing.
- Die Polishing Marks: You may notice raised dots or a “stream” beneath the bison’s belly caused by the die polishing.
- Mint Mark: The coin has a “D” mint mark below the words “FIVE CENTS,” indicating it was made at the Denver Mint.
Because counterfeit versions exist, these features are important for properly identifying the coin.
Market Value and Auction Records
The value of the 1937-D Three-Legged Buffalo Nickel depends on its condition. Here is a breakdown of its approximate value based on different grades:
- Good (G-4): $550 – $600
- Very Fine (VF-20): $1,200 – $1,500
- Extremely Fine (EF-40): $2,500 – $3,000
- About Uncirculated (AU-50): $4,000 – $5,000
- Mint State (MS-60): $7,000 – $8,000
- Mint State (MS-65): $15,000 – $20,000
A coin with an MS-66 grade sold for nearly $100,000 at an auction in 2021. The value of these coins has steadily increased as demand from collectors grows.
Factors Influencing Value
Several factors contribute to the value of a 1937-D Three-Legged Buffalo Nickel:
- Condition: Coins in better condition (with little wear) are worth more.
- Rarity: The coin’s unique minting error makes it rare, and fewer examples survive today.
- Market Demand: A strong demand from collectors and investors can drive up the price.
If you’re considering purchasing one, make sure to check the coin’s condition and authenticity carefully.
Authentication and Grading
Since the 1937-D Three-Legged Buffalo Nickel is so valuable, it’s important to authenticate and grade the coin properly.
Reputable grading services like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC) can certify a coin’s authenticity and quality. This helps buyers ensure they’re getting a genuine, well-preserved example.
The 1937-D Three-Legged Buffalo Nickel is a remarkable and rare piece of American numismatic history. Its unique origin, rare error, and high market value make it a must-have for coin collectors.
Whether you’re just starting to collect coins or you’re a seasoned expert, owning a 1937-D Three-Legged Buffalo Nickel would be a significant achievement in any collection.
1. What is the 1937-D Three-Legged Buffalo Nickel?
The 1937-D Three-Legged Buffalo Nickel is a rare coin with a minting error where the bison’s front right leg is missing.
2. Why is the 1937-D Buffalo Nickel so valuable?
Its rarity, unique error, and high demand from collectors make it worth thousands of dollars.
3. How can I tell if my Buffalo Nickel is the Three-Legged variety?
Look for the missing front leg of the bison, weak rear leg, and die polishing marks on the coin.
4. How much is a 1937-D Three-Legged Buffalo Nickel worth?
It can range from $550 for a lower-grade coin to over $95,000 for a high-grade example.
5. How do I ensure my coin is authentic?
You can have your coin professionally graded and authenticated by services like PCGS or NGC.
