The 1929 Buffalo Nickel stands as a testament to early 20th-century American coinage, captivating collectors with its rich history and potential value. While its face value is a mere five cents, certain specimens have fetched prices up to $15,275 at auctions, making it a hidden gem for numismatists.
Contents
Historical Context and Design
The Buffalo Nickel, also known as the Indian Head Nickel, was minted from 1913 to 1938. Designed by sculptor James Earle Fraser, the coin’s obverse features a composite Native American profile, while the reverse showcases an American bison, commonly referred to as a buffalo. The 1929 edition was produced across three mints: Philadelphia (no mint mark), Denver (‘D’ mint mark), and San Francisco (‘S’ mint mark).
Mintage and Specifications
| Mint Location | Mint Mark | Mintage | Composition | Diameter | Weight |
|---|---|---|---|---|---|
| Philadelphia | None | 36,446,000 | 75% Copper, 25% Nickel | 21.2 mm | 5 g |
| Denver | D | 8,370,000 | 75% Copper, 25% Nickel | 21.2 mm | 5 g |
| San Francisco | S | 7,754,000 | 75% Copper, 25% Nickel | 21.2 mm | 5 g |
Factors Influencing Value
The value of a 1929 Buffalo Nickel is influenced by several factors:
- Condition (Grade): Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation. Uncirculated coins (Mint State) command higher prices.
- Mint Mark: Nickels from Denver and San Francisco generally have lower mintages, potentially increasing their value, especially in higher grades.
- Rarity and Errors: Coins with minting errors or unique features are particularly sought after by collectors.
Notable Auction Sales
- A 1929-D Buffalo Nickel graded MS66+ sold for $15,275 in 2014.
- Another 1929-D specimen in MS67 condition fetched $12,000.
These sales underscore the significant value that high-grade specimens can achieve in the numismatic market.
Identifying Mint Marks
The mint mark on a Buffalo Nickel is located on the reverse side, beneath the denomination “FIVE CENTS”:
- No Mint Mark: Philadelphia Mint
- ‘D’ Mint Mark: Denver Mint
- ‘S’ Mint Mark: San Francisco Mint
Common Errors and Varieties
While the 1929 Buffalo Nickel doesn’t have widely recognized major errors, collectors should be aware of general Buffalo Nickel anomalies:
- 3-Legged Buffalo (1937-D): Resulting from over-polishing of the die, this error features a buffalo missing one front leg.
- 1918/7-D Overdate: A rare overdate error where the ‘7’ is visible beneath the ‘8’.
These errors are highly sought after and can command substantial premiums.
Current Market Value
As of recent market analyses, approximate values for 1929 Buffalo Nickels are:
| Condition | No Mint Mark | ‘D’ Mint Mark | ‘S’ Mint Mark |
|---|---|---|---|
| Good (G-4) | $0.85 | $1.15 | $1.11 |
| Very Fine (VF-20) | $2.04 | $3 | $2 |
| Extremely Fine (EF-40) | $9 | $23 | $9 |
| About Uncirculated (AU-50) | $34 | $74 | $45 |
| Mint State (MS-60) | $50 | $85 | $70 |
| MS-65 | $280 | $1,000 | $425 |
| MS-67 | $8,000 | $12,000 | $10,000 |
These values are approximate and can fluctuate based on market demand and the coin’s specific attributes.
Collecting Tips
- Authentication: Due to the potential value, ensure coins are authenticated by reputable grading services.
- Preservation: Store coins in a controlled environment to prevent deterioration.
- Market Research: Stay informed about current market trends to make educated purchasing or selling decisions.
The 1929 Buffalo Nickel represents a fascinating piece of American history. While finding one in circulation today is highly unlikely, possessing a high-grade specimen can be both a rewarding and valuable experience for collectors.
FAQs
Can I still find a 1929 Buffalo Nickel in circulation?
It’s highly improbable due to the coin’s age and collector interest.
What makes the 1929-D Buffalo Nickel more valuable?
Lower mintage and higher demand, especially in uncirculated conditions, increase its value.
How can I determine the grade of my Buffalo Nickel?
Professional grading services can provide an accurate assessment of your coin’s condition.
