Sometimes we find coins inside our pockets or a relative gives us an old one, but we are not sure about their value. Let me tell you that there are many coins circulating that could make you rich, but if you have a Buffalo Nickel you might be in possession of a very valuable object. This is because of its history, so let’s find more about it and the coin market!
Buffalo Nickel
The Buffalo Nickel is a 5 cents coin minted in The United States between 1913 and 1938. It has a round shape and it is 21.2 mm diameter and weighs 5 g. It is known for its material – nickel and copper – and its design. The Buffalos were used as regular money back in the days, but now they are worth a lot of money, some of them thousands of dollars.
Unique design
During the leadership of president Theodore Roosevelt (1901-1909), a movement called ‘Renaissance of the U.S. Coinage’ was created to enhance the design of the coins to represent the national culture and identity. Many coins are included in this movement such as the $20 Double Eagle, the Lincoln Cent, the Buffalo Nickel or the Mercury Dime. James Earle Fraser was the artist in charge of the Buffalo Nickel design and to reflect that nationality and American pride, he decided to include a native American in the front part of the coin, and a buffalo in the back – that’s the reason behind its name.
Buffalo’s value
The Buffalo Nickel are not made of expensive material like gold or silver, but there are other aspects of them that make them desirable. Collectors look for more than just the material, they expect the coins to be rare, to have some kind of mistake – you might think that errors lower the value of objects, but what they normally do is the opposite. For example, one of the most searched Buffalo Nickel is the one with a buffalo with just 3 legs.
Other aspects they want are a specific date of mint and a concrete mint – seen in the coins as ‘S’ which stands for San Francisco or ‘D’ for Denver. They also analyze if they are in good condition and if they had been used as money in the past, because the more they have been circulating, the worse they would be.
What if you have one of these coins?
Wait! Don’t even think about selling it straight away. If you are one of the lucky people who owns a Buffalo Nickel you should go to a numismatic expert – someone with experience in the study of coins, and objects related to the history of money – to avoid scams. Just to let you know, the prices range from $4,000 to $90,000. I’m sure you will start looking for coins in detail around your house or even relatives. Once you find it you have two options, either keep it and brag about your possession or sell it and get some money you weren’t expecting.
It is remarkable the fact that from a small and ancient object, that many people may throw in the trash, we are able to know a lot from the history of a specific time in the United States and the art behind it. History is important as it shows the values and identity of society back then, and this is reflected in the value of these coins. The prices are so high, but you would be in possession of a small part of the history of the United States of America. Not many people could say so.