It may sound unbelievable, but a small coin that once bought a piece of candy or a ride on a trolley could now be worth over $600,000. We’re talking about the iconic Buffalo Nickel—a five-cent piece minted from 1913 to 1938. While most are worth only a few dollars to collectors, certain rare versions of this coin have skyrocketed in value.
So how can a humble nickel become a six-figure treasure? Let’s explore the most valuable Buffalo Nickel, why it’s worth so much, and whether one could be hiding in your change jar or coin collection.
What Is a Buffalo Nickel?
Also known as the Indian Head Nickel, the Buffalo Nickel features a proud Native American on the front and a powerful American bison on the back. Designed by James Earle Fraser, the coin is one of the most distinctly American designs in U.S. coin history.
Minted between 1913 and 1938, these coins were made of 75% copper and 25% nickel, and they circulated heavily, which means finding a well-preserved one today is rare.
The $601,000 Buffalo Nickel: What Makes It So Special?
The Buffalo Nickel that fetched a staggering $601,000 at auction is the legendary 1916 Doubled Die Obverse.
Key Features:
- Year: 1916
- Mint: Philadelphia (no mint mark)
- Error: Doubled Die Obverse, meaning the date and letters were struck twice, creating a visible shadow effect
- Condition: Extremely high grade (near mint condition)
Only a few of these nickels are known to exist, and even fewer are in excellent condition. The doubling is clearly visible to the naked eye, especially in the date and the lettering “LIBERTY.”
Why Is It Worth So Much?
Several factors drive the enormous value of this coin:
- Extreme Rarity: Only a handful of true 1916 doubled die Buffalo Nickels are confirmed.
- Historical Significance: Minting errors like these from early 20th-century coins are prized among serious collectors.
- Condition: The $601,000 coin was in almost uncirculated condition—a nearly impossible feat for a coin over 100 years old.
- Collector Demand: As one of the most famous U.S. error coins, this nickel is highly coveted.
How to Check If You Have One
Think you might have one lying around? Here’s what to do:
1. Check the Date
Look for a 1916 Buffalo Nickel with no mint mark under the “FIVE CENTS” (meaning it was minted in Philadelphia).
2. Inspect the Lettering
Use a magnifying glass to look closely at the date and the word “LIBERTY.” If there’s any clear doubling, you may be on to something big.
3. Weigh It
A genuine Buffalo Nickel should weigh about 5 grams. If it’s off significantly, it may be a counterfeit or novelty.
4. Don’t Clean It!
Cleaning coins can destroy their value. If you think you have a rare coin, leave it untouched and seek a professional appraisal.
Other Buffalo Nickels That Are Valuable
Even if you don’t have the famous $601,000 specimen, many Buffalo Nickels are worth serious money, including:
- 1913-S Type 2 – Worth up to $50,000+
- 1918/7-D Overdate – Known for its bold error; worth up to $350,000
- 1926-S – Rare in high grades; can fetch over $100,000
- 1937-D 3-Legged Buffalo – A popular error coin missing a leg on the bison; worth $20,000–$100,000+
Final Thoughts: Could You Really Have One?
It’s unlikely that a $601,000 coin is jingling in your pocket change—but not impossible. Some of the most valuable coins ever discovered were found by people who weren’t even looking, just sorting through old jars or inherited collections.
If you have old coins, especially Buffalo Nickels:
- Take a close look at dates, details, and any oddities.
- Use a reference guide or get a second opinion from a reputable coin dealer.
- Keep them in protective holders and never polish them.
You just might be holding a piece of American history worth a fortune.