Forgotten Buffalo Nickel: The discovery of a forgotten Buffalo nickel in an old piggy bank has left one family astonished by its unexpected value. As coin collectors and enthusiasts know, the Buffalo nickel, minted from 1913 to 1938, holds a special place in numismatic circles. This particular coin, often tucked away and overlooked, can sometimes be worth thousands of dollars if it’s in excellent condition or bears rare mint marks. The rise in its value over time has been driven by its historical significance, unique design, and rarity, especially those minted in specific years.
Evolution of the Buffalo Nickel’s Value Over Time
The Buffalo nickel, also known as the Indian Head nickel, was first released into circulation in 1913. Designed by James Earle Fraser, it features a Native American on one side and a buffalo on the other, capturing the essence of the American West. Initially, it was just another five-cent piece, but over the decades, its value has escalated significantly. Many factors contribute to this increase, including the coin’s age, condition, and unique historical context.
Coins from certain years, such as the 1918/7-D overdate or the 1937-D three-legged buffalo, are particularly sought after by collectors. These coins, due to their rarity, can fetch thousands of dollars at auction. For instance, a 1918/7-D nickel in good condition might sell for upwards of $1,000, while a mint-condition version can exceed $10,000. Such value appreciation highlights the importance of examining and appraising old coins, as a seemingly ordinary nickel could be a hidden treasure.
How to Identify Valuable Buffalo Nickels in Your Collection
Identifying a valuable Buffalo nickel requires a keen eye and some numismatic knowledge. First, check the date and mint mark, which are crucial indicators of a coin’s rarity. Mint marks, found below the “five cents” inscription on the reverse, denote where the coin was produced. Coins from the Denver or San Francisco mints are generally more valuable than those from Philadelphia, due to lower production numbers.
Next, assess the coin’s condition. Coins with minimal wear, known as ‘uncirculated’ or ‘mint state,’ are worth more than those with significant wear. It’s advisable to use a magnifying glass to inspect the coin for distinctive features like doubled dies or unusual mint errors, as these can dramatically increase its value. Additionally, consulting a professional coin appraiser or using online resources can help determine the true worth of a Buffalo nickel.
Real-Life Example of a Buffalo Nickel Discovery
In a remarkable turn of events, a family in Ohio discovered an old piggy bank in their attic that contained a collection of Buffalo nickels. Among them was a 1936 Buffalo nickel in near-perfect condition. Initially dismissed as pocket change, a closer inspection revealed that it was one of the less common varieties, with a full horn on the buffalo, a detail that adds to its rarity and value.
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This find led the family to have it appraised by a local numismatist, who confirmed its value to be in the high hundreds, possibly over a thousand dollars. The family decided to auction the coin, drawing interest from collectors nationwide. Such stories are not uncommon, as many people are unaware of the treasures that might be lurking in their homes, waiting to be discovered.
Tips for Collecting and Preserving Buffalo Nickels
For those interested in collecting or preserving Buffalo nickels, there are several tips to ensure your collection maintains its value. Firstly, storing coins in a cool, dry place is essential to prevent tarnishing or damage. Using protective holders or albums designed for coins can help keep them in pristine condition.
It’s also important to handle coins carefully, preferably with clean hands or gloves, to avoid leaving oils or dirt on the surface. Regular inspections and gentle cleaning, if necessary, can preserve the coin’s luster and detail. For serious collectors, staying informed about the coin market and attending coin shows can provide insights into current trends and values. By understanding what makes certain coins valuable and taking steps to preserve them, you can ensure that your collection remains a worthwhile investment.
