The 1938-D Buffalo Nickel holds a special place in American numismatics as one of the final issues of the famous Buffalo Nickel series, which was introduced in 1913.
Known for its iconic design, the Buffalo Nickel, also referred to as the Indian Head Nickel, features a Native American profile on the obverse and a bison on the reverse.
The 1938-D variety, minted at the Denver Mint, is particularly prized by collectors due to its rarity and significance in the coin’s history.
In this article, we will explore the history, features, and market value of the 1938-D Buffalo Nickel, as well as how to spot this rare coin in your collection.
Contents
The History of the Buffalo Nickel
The Buffalo Nickel was designed by James Earle Fraser, a noted American sculptor. The coin was initially minted in 1913, replacing the earlier Liberty Head Nickel.
The obverse features a Native American figure, while the reverse depicts an American bison. The design was chosen to represent the ideals of strength, liberty, and American identity.
The Buffalo Nickel was minted continuously from 1913 until 1938. However, as the 1930s approached, the coin began to experience wear, as the designs on the coin were deeply struck and thus wore down quickly.
By the time the 1938-D Buffalo Nickel was minted, it marked the end of this iconic series. The Mint was already considering alternatives, which led to the release of the Jefferson Nickel later in 1938, making the 1938-D Buffalo Nickel one of the last coins of its kind.
Features of the 1938-D Buffalo Nickel
The 1938-D Buffalo Nickel is distinguished by several key features that make it particularly valuable and sought after by collectors:
- Obverse Design: The obverse features a Native American chieftain, a representation that was inspired by a blend of three Native American leaders.
- Reverse Design: The reverse depicts an American bison, commonly known as a buffalo, which symbolizes the strength and majesty of the American wilderness.
- Mint Mark: The “D” mintmark on the 1938-D Buffalo Nickel indicates that it was struck at the Denver Mint. This mintmark makes the 1938-D variety particularly valuable when compared to other Buffalo Nickels minted that year.
- Composition and Size: The coin is made of 75% copper and 25% nickel, with a weight of 5 grams and a diameter of 21.2 mm. It has a reeded edge and is slightly smaller than the current U.S. nickel.
Rarity and Market Value of the 1938-D Buffalo Nickel
The 1938-D Buffalo Nickel is considered rare, especially in high grades, as most of the coins were heavily worn during circulation.
The number of well-preserved specimens is small, making it a prized find for collectors. According to numismatic reports, the market value of the 1938-D Buffalo Nickel varies depending on its condition:
| Grade | Value Range |
|---|---|
| Poor (P) | $2 to $5 |
| Good (G) | $5 to $10 |
| Fine (F) | $15 to $30 |
| Very Fine (VF) | $30 to $60 |
| Extremely Fine (XF) | $100 to $150 |
| Uncirculated (MS) | $250 to $500+ |
The 1938-D Buffalo Nickel in Uncirculated condition, particularly those graded MS65 or higher, can fetch prices upwards of $500 or more, depending on the demand and specific coin traits. A coin in excellent condition, such as MS67, can potentially reach or exceed $1,000 at auctions.
How to Spot a Rare 1938-D Buffalo Nickel
Spotting a rare 1938-D Buffalo Nickel among your collection or spare change requires attention to a few key details:
- Check the Date: Make sure the coin is dated 1938. Many Buffalo Nickels were minted over several decades, so verifying the date is the first step.
- Look for the Mint Mark: The “D” mintmark is located on the reverse, near the bottom of the bison. If it’s a 1938 coin and lacks the “D” mintmark, it’s likely from a different mint.
- Examine the Condition: Condition is critical when evaluating the value of a Buffalo Nickel. Coins that have sharp, clear details and minimal wear are considered more valuable.
- Use a Magnifying Glass: Inspect the details of the Native American portrait and the bison on the reverse. A well-preserved coin will have crisp lines and details.
Why the 1938-D Buffalo Nickel is Highly Prized
The 1938-D Buffalo Nickel represents the end of an era in U.S. coinage. As the final year for the Buffalo design, this coin holds historical significance.
Additionally, due to the relatively low mintage numbers and wear on most coins, high-quality specimens are quite rare, adding to their value.
The 1938-D Buffalo Nickel is an iconic piece of American coinage that holds both historical and numismatic significance. Due to its rarity and the end of the Buffalo design, this coin is highly valued by collectors.
If you find one in good condition, it could be worth far more than its face value, potentially becoming a treasured part of your collection.
Always check your spare change carefully, as you might be holding a piece of U.S. history that could be worth a small fortune.
FAQs
Why is the 1938-D Buffalo Nickel valuable?
The 1938-D Buffalo Nickel is valuable due to its rarity, the historical significance of being the last year of the Buffalo design, and its limited availability in high grades. High-quality, uncirculated specimens are especially prized by collectors.
How can I identify a 1938-D Buffalo Nickel?
To identify a 1938-D Buffalo Nickel, check the date and look for the “D” mintmark on the reverse of the coin. Additionally, ensure the coin is in good condition, as well-preserved examples are more valuable.
How much is a 1938-D Buffalo Nickel worth?
The value of a 1938-D Buffalo Nickel depends on its condition. It can range from a few dollars for lower-grade coins to over $1,000 for coins in excellent, uncirculated condition.
