The 1937-D Three-Legged Buffalo Nickel stands as one of the most intriguing anomalies in American numismatics.
This rare coin, distinguished by a missing front leg on the buffalo, has captivated collectors and enthusiasts alike. In this article, we delve into the history, identification, value, and current market trends of this exceptional coin.
Understanding the 1937-D Three-Legged Buffalo Nickel
The Buffalo Nickel, introduced in 1913, features a Native American on the obverse and an American bison on the reverse. The 1937-D variety is particularly notable due to a minting error that resulted in the buffalo’s missing front leg.
Origin of the Error
The missing leg on the 1937-D Buffalo Nickel is attributed to excessive polishing of a worn reverse die. Mint workers attempted to refresh the die’s details but inadvertently removed the buffalo’s front leg, creating this unique variety.
Identifying the Three-Legged Buffalo Nickel
To confirm the authenticity of a Three-Legged Buffalo Nickel, consider the following diagnostic features:
- Missing Front Leg: The buffalo’s front left leg is absent, though the hoof may still be visible.
- Die Rust Feature: A “stream” of raised metal appears beneath the buffalo’s belly, resulting from die rust.
Value and Rarity
The value of the 1937-D Three-Legged Buffalo Nickel varies based on its condition and grade. While exact mintage numbers are unknown, estimates suggest that approximately 10,000 examples survive, with the majority in circulated grades.
Grading and Valuation
Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation and detail. The following table outlines the estimated values for various grades of the 1937-D Three-Legged Buffalo Nickel:
| Grade | Estimated Value (USD) |
|---|---|
| G4-G6 (Good) | $200 – $500 |
| XF45 (Extremely Fine) | $900 – $1,500 |
| AU55-AU58 (About Uncirculated) | $1,250 – $2,000 |
| MS60-MS62 (Mint State) | $2,100 – $2,300 |
| MS63-MS64 | $5,000 – $9,000 |
| MS65-MS66 | $20,000 – $50,000 |
| MS67 (Gem Mint State) | $85,000 – $100,000 |
Note: Values are approximate and can fluctuate based on market demand and coin condition.
Current Market Trends
In recent years, the demand for the 1937-D Three-Legged Buffalo Nickel has remained robust. For instance, a coin graded MS66+ fetched $99,875 at auction in 2021. Such sales highlight the coin’s enduring appeal among collectors.
Tips for Finding and Evaluating the Coin
While it’s unlikely to find high-grade examples in everyday circulation, collectors can still encounter these coins in various settings:
- Coin Shops and Dealers: Regular visits can lead to discoveries of undervalued coins.
- Estate Sales and Auctions: These venues occasionally offer rare coins at competitive prices.
- Online Marketplaces: Platforms like eBay list numerous Buffalo Nickels; however, authenticity should be verified.
When evaluating potential finds:
- Authenticate: Ensure the coin exhibits the diagnostic features of the Three-Legged variety.
- Grade: Assess the coin’s condition using the standard grading scale.
- Consult Experts: Engage with reputable numismatists or grading services for a professional evaluation.
The 1937-D Three-Legged Buffalo Nickel is more than just a coin; it’s a testament to the nuances of coin production and a symbol of the rich history embedded in American currency. Whether you’re a seasoned collector or a novice, understanding its origins, identification, and value enhances the appreciation of this numismatic gem.
FAQs
What caused the buffalo’s front leg to be missing on the 1937-D nickel?
The missing leg resulted from overzealous polishing of a worn reverse die during minting, which inadvertently removed the buffalo’s front leg.
How can I identify a genuine 1937-D Three-Legged Buffalo Nickel?
Look for the absence of the buffalo’s front left leg, with the hoof possibly still visible, and a raised “stream” beneath the buffalo’s belly due to die rust.
What is the value of a 1937-D Three-Legged Buffalo Nickel?
Values vary based on condition, ranging from $200 for lower-grade coins to over $100,000 for high-grade specimens.
Are these coins still found in circulation today?
While rare, some lower-grade examples may still be found in circulation, though high-grade coins are primarily held in collections.