1937-D Three-Legged Buffalo Nickel Value & Error

The 1937-D Buffalo Nickel is a valuable coin. The Buffalo Nickel series has a rare error. A missing leg on the buffalo results in the Three-Legged Buffalo Nickel. Coin collectors highly seek this error. The Denver Mint produced this variety. Its value is substantially higher than a typical Buffalo Nickel.

Ever heard of a buffalo with only three legs? Sounds like something out of a tall tale, right? But in the world of coin collecting, it’s a real thing and it’s highly sought after! We’re talking about the Three-Legged Buffalo Nickel, a quirky little piece of American history that’s more valuable than you might think.

The Buffalo Nickel, also known as the Indian Head Nickel, galloped onto the scene in 1913 and quickly became an American icon. Designed by James Earle Fraser, it showcased the rugged beauty of the American West, featuring a Native American on one side and a majestic buffalo (or bison, if you want to get technical) on the other. It’s a classic design that evokes a sense of nostalgia and adventure!

But among the millions of Buffalo Nickels minted, one particular variety stands out: the 1937-D Three-Legged Buffalo Nickel. This isn’t some mythical creature, but rather a coin with a minting error that resulted in one of the buffalo’s legs appearing to be missing. This “crippled” Buffalo Nickel is surprisingly one of the most desired and intriguing error coins in numismatics, creating frenzy in coin collecting.

In this article, we’re going to take a deep dive into the world of the Three-Legged Buffalo Nickel. We’ll uncover the history behind this famous error, learn how to identify a genuine example, explore its value, and discover why it continues to capture the imagination of collectors. Get ready to embark on a numismatic adventure!

The 1937-D Buffalo Nickel: A Perfect Storm of Production

Let’s set the scene: it’s 1937, the tail end of the Buffalo Nickel’s run. Production is in full swing at the Denver Mint, marked with that little “D” we all love to see on a coin. Now, the Denver Mint was—and still is—a major player in U.S. coinage. Think of it as the workhorse, churning out millions of coins each year to keep the economy humming.

But here’s the thing: While the Philadelphia Mint often gets the spotlight as the “main” mint, Denver was just as crucial, especially during this period. Understanding the Denver Mint’s output and its role in producing Buffalo Nickels helps us grasp the sheer scale of production. Millions upon millions of these coins were struck, and each one had to meet certain standards.

Now, a quick refresher on the Buffalo Nickel itself. Officially called the “Indian Head Nickel,” this coin was designed by James Earle Fraser and first minted in 1913. It was meant to capture the spirit of the American West, featuring a Native American profile on one side and an American bison (a buffalo!) on the other. It was a far cry from the staid, classical designs of earlier coins, and its rugged, frontier-inspired imagery made it an instant hit.

But, like any good story, there’s a twist. Enter the 1937-D Buffalo Nickel. Millions were made, just like any other year. But within that massive mintage, a few coins slipped through with a very peculiar “defect” — or rather, a lack thereof: a missing leg. Now, that’s what we are talking about!

But wait just a minute! Back in 1937, the manufacturing process was a far cry from the high-tech, computer-controlled precision we see today. Quality control was largely manual, relying on the sharp eyes of mint employees. While they did their best, mistakes happened.

Now, with millions of coins being struck at high speed, it’s easy to see how a minor issue could slip through the cracks. The Buffalo Nickel series, known for its high relief design, was already prone to wear and tear on the dies (the metal stamps that create the coin’s design). Combine that with the sheer volume of coins being produced, and you’ve got a recipe for errors.

This is the scene we need to picture. The Denver Mint is a hive of activity, dies are wearing down, and quality control is stretched thin. And that, my friends, is the perfect storm that led to the creation of the legendary Three-Legged Buffalo Nickel. Now are you ready to know how exactly the mint error happened?

From Die to Dollar: The Birth of a Famous Error

Ever wondered how a buffalo lost a leg on a nickel and became a star? It’s a tale of wear and tear, a little too much elbow grease, and a whole lot of luck for coin collectors! Let’s break down how the famous Three-Legged Buffalo Nickel came to be, sans one very important appendage.

The Denver Mint’s “Oops!” Moment

Imagine the Denver Mint in 1937 – busy churning out Buffalo Nickels. These coins, with their iconic Native American head on one side and the majestic buffalo on the other, were a staple of American currency. But coin dies? They don’t last forever. Over time, they wear down. To keep the coins looking sharp, mint employees would polish the dies. Think of it like giving your car a good buffing to get rid of scratches.

The Die-Hard Truth: Polishing Gone Wild

Here’s where things went a little sideways. Sometimes, the polishing was a bit…enthusiastic. In the case of the 1937-D Buffalo Nickel die, the polishing went so deep it actually removed some of the design! Specifically, the front right leg of the buffalo became a casualty of this excessive polishing. Poof! Gone. Vanished. Sayonara, leg! This over-polishing is the culprit behind the missing limb.

A Visual Aid: Where Did the Leg Go?

(This is where your blog post would include a helpful image or diagram). You’d want a clear picture of a Three-Legged Buffalo Nickel with the missing leg clearly indicated. An arrow or a circle highlighting the spot where the leg should be would be perfect. Also, maybe a side-by-side with a normal Buffalo Nickel to really hammer home the difference.

Busting Myths: It Wasn’t a Buffalo Accident!

Now, let’s clear up some misconceptions. The Three-Legged Buffalo Nickel wasn’t caused by a buffalo getting into a minting machine (as cool as that would be!). It wasn’t a deliberate act of sabotage by a disgruntled mint employee. It was simply a case of overzealous die polishing. It was also not a mistake during the minting process involving the blank planchet. A combination of die wear and over polishing is what created this interesting coin!

Spotting a Winner: How to Identify a Genuine Three-Legged Buffalo Nickel

So, you think you’ve stumbled upon the legendary Three-Legged Buffalo Nickel? Hold your horses (or should we say, buffalos)! Before you start planning your early retirement, let’s make sure you’ve got the real deal. Identifying this little gem isn’t rocket science, but it does require a keen eye and a bit of detective work.

The Tell-Tale Sign: Missing Leg, But Not Just Any Missing Leg!

The most obvious clue, of course, is the missing leg. But here’s the kicker: not all missing legs are created equal. You’re looking for a very specific absence. On a genuine 1937-D Three-Legged Buffalo Nickel, the front right leg is the one that’s gone MIA. And when we say “gone,” we mean mostly gone. You might see a faint trace, a ghost of the leg that once was, but the majority of it should be smooth and leg-less! Think of it as the buffalo having a particularly bad shaving day.

Furthermore, examine the remaining legs. The details should be crisp and clear. Counterfeiters might try to grind off a leg, but they often leave telltale scratches or a generally “mushy” appearance.

Picture This: Visual Aids to the Rescue!

Words can only take you so far. To truly become a Three-Legged Buffalo Nickel spotting pro, you need to feast your eyes on the real thing. Here are some key things to look for in an image:

• A clear view of the right front leg area, showing the smooth, polished-away surface.
• Sharp details on the remaining legs, especially around the hooves and joints.
• The distinct “D” mint mark below the “FIVE CENTS” inscription, confirming it’s a Denver Mint product.

Beware the Fakes: Don’t Get Bamboozled!

Unfortunately, where there’s value, there are those who try to cheat the system. Here are some red flags to watch out for:

• Ground-off legs: As mentioned earlier, these often look unnatural, with scratches or a dull, uneven surface.
• Added mint marks: Some unscrupulous folks might try to add a “D” mint mark to a regular 1937 Buffalo Nickel. Examine the mint mark closely; it should be well-defined and consistent with genuine Denver Mint coins.
• Too good to be true deals: If someone’s offering a Three-Legged Buffalo Nickel for a price that seems ridiculously low, it’s probably a fake. Do your research and compare prices from reputable sources.

Pro Tip: A magnifying glass or a jeweler’s loupe can be your best friend when examining a potential Three-Legged Buffalo Nickel. These tools will help you spot subtle details and inconsistencies that might be invisible to the naked eye.

The Price is Right? Understanding the Numismatic Value of a Three-Legged Buffalo Nickel

So, you’ve got your eye on a Three-Legged Buffalo Nickel, huh? Excellent choice! But before you start emptying your piggy bank, let’s talk about what makes this little piece of history worth its weight in… well, not nickel, definitely more than nickel! Several factors come into play that determine how much that coveted coin could be worth. Let’s break it down, shall we?

Rarity: How Many Are Out There?

First off, rarity is a huge factor. Think of it like this: the fewer of something there are, the more people are willing to pay to get their hands on it. The 1937-D Three-Legged Buffalo Nickel isn’t exactly common – hence the hype! We’re talking about a specific mint (Denver – “D” mint mark) and year combined with a very specific error. That drastically reduces the pool of available coins.

Condition is Key

Next up is condition – or grade, as the pros call it. We use something called the Sheldon Scale to assess the condition of a coin. It’s a numerical system from 1 to 70, ranging from “barely-there, I-can-hardly-tell-it’s-a-coin” (Poor – PO1) to “mint-state, practically untouched by human hands” (MS70). The better the condition, the more it’s likely worth. A crisp, well-defined Three-Legged Buffalo is gonna fetch a lot more than a worn, barely-there one. Imagine the difference between a brand-new car and one that’s been through a demolition derby!

Eye Appeal: Does it Spark Joy?

Then, there’s eye appeal. This is a bit more subjective, but it’s all about how the coin looks. Does it have a nice luster? Is the toning (that’s the color change over time) attractive? Does it just generally make you happy to look at it? Even if a coin technically grades the same, one with better eye appeal will often be more desirable (and therefore more valuable).

Market Demand: What Are People Willing to Pay?

And finally, we can’t forget about market demand. What are collectors willing to pay? If everyone suddenly decides they need a Three-Legged Buffalo Nickel, prices will go up. If interest wanes, prices might dip. It’s like any other market, driven by supply and demand.

The Importance of Grading Services (PCGS, NGC, ANACS)

Now, how do you objectively assess all this? That’s where professional grading services like PCGS, NGC, and ANACS come in. They’re like coin experts who examine coins, assign them a grade, and encapsulate them in a protective holder. This grading helps establish authenticity of the coin and makes understanding the value of the coin easier. A graded coin gives both buyer and seller confidence.

Value Chart: What Can You Expect to Pay?

(Disclaimer: Coin values are always fluctuating. This is just a rough estimate!)

Grade	Approximate Value
Poor (PO1)	$150 – $250
Good (G4)	$300 – $500
Very Good (VG8)	$600 – $900
Fine (F12)	$900 – $1,200
Very Fine (VF20)	$1,200 – $1,800
Extra Fine (EF40)	$2,000 – $3,000
About Uncirculated (AU50)	$3,500 – $5,000
Mint State (MS60+)	$5,000 – $10,000+

Important Note: These values are just estimates. Real-world prices can vary based on specific characteristics of the coin, auction results, and even the mood of the market on any given day. Do your research!

Navigating the Numismatic World: Professionals and Resources

So, you’re officially hooked on the Three-Legged Buffalo Nickel, huh? Welcome to the club! But where do you go from here? Well, you wouldn’t try to perform surgery based on a YouTube video, right? (Please say no!). Similarly, navigating the world of rare coins requires guidance, resources, and a bit of wisdom from those who’ve been there, polished that die (pun intended!), and seen it all.

The Coin Connoisseurs: Coin Dealers and Numismatists

Think of coin dealers and numismatists as your friendly neighborhood coin whisperers. They’re not just about buying and selling; they’re about sharing their knowledge. A good coin dealer can help you authenticate a Three-Legged Buffalo Nickel, give you a fair appraisal, and guide you on market trends. They are in the know so be in the know.

Seeking expert advice is key. A seasoned numismatist can spot a fake from a mile away, saving you from potentially costly mistakes. Consider it an investment in your coin collecting journey! Find someone reputable, someone you trust, and build a relationship. They’re your sherpa in this mountainous terrain of numismatics.

The Red Book: Your Numismatic Bible

Ah, the “Red Book,” officially titled A Guide Book of United States Coins. This is a must-have for any serious (or even semi-serious!) coin collector. It’s like the IMDb for coins! Inside, you’ll find:

• Detailed information on U.S. coins.
• Historical context.
• Estimated values based on condition.

Keep in mind that the prices in the Red Book are guidelines, not gospel. Market fluctuations and rarity can significantly affect the actual value of a coin. Still, it’s an invaluable reference tool.

Coin Auctions: May the Odds be Ever in Your Favor (and Wallet)

Ready for some adrenaline? Coin auctions, both online (like eBay) and at auction houses (such as Heritage Auctions), can be exciting places to find Three-Legged Buffalo Nickels.

• Heritage Auctions is renowned for its high-end rare coin sales, often featuring stunning examples of the Three-Legged Buffalo Nickel.
• eBay can be a great place to find deals, especially if you’re willing to do your homework and carefully inspect the coin’s images and description. Be cautious and do your homework before you buy.

Pro-Tip: Research the seller’s or auction house’s reputation before bidding. And remember, set a budget and stick to it! It’s easy to get caught up in the excitement and overpay. Auction day is not the time for emotion, but research and strategy!

Collecting and Investing: Embark on Your Three-Legged Buffalo Adventure!

So, you’re intrigued by the Three-Legged Buffalo Nickel, huh? Well, you’re not alone! Many people are drawn to the “cool and fascinating” world of coin collecting and maybe even “strike it rich” with coin investing, and this iconic error coin is a fantastic place to start. Whether you’re a seasoned numismatist or someone just dipping their toes into the coin world, the Three-Legged Buffalo offers something special.

Why Every Collector Needs a Three-Legged Buffalo

For hobbyists, this coin isn’t just another piece of metal; it’s a story. It’s a tangible piece of history, a testament to the human element within the seemingly precise process of minting coins. Imagine owning a little piece of the Wild West (or at least, the Denver Mint in 1937) that has a missing leg! Finding one is a real score.

Ever heard the saying “One man’s trash is another man’s treasure?” That perfectly describes the allure of “cherrypicking.” This is the art of sifting through piles of ordinary coins in search of that one special variety like our Three-Legged friend.

Imagine this: you’re at a coin show, pawing through a dealer’s “junk bin” (don’t worry, it’s nicer than it sounds) full of Buffalo Nickels. Suddenly, BAM! You spot it: the telltale smooth area where the fourth leg should be. You’ve hit the jackpot! Those kinds of stories fuels the thrill of the hunt, and this coin is a great starting point for this process.

Collecting vs. Investing: What’s Your Game?

Now, let’s talk about the difference between collecting and investing. Collecting is about passion, about assembling a collection that speaks to your interests. Investing, on the other hand, is about potential returns. You can absolutely do both with Three-Legged Buffalo Nickels, but it’s important to understand the nuances.

If you’re investing, think long-term. Rare coins can appreciate in value over time, especially those in excellent condition. However, like any investment, there are risks. Coin prices can fluctuate based on market demand, economic conditions, and even the latest trends. Always do your research and consult with a reputable coin dealer before making any major investment decisions.

The Thrill of the Chase: Cherrypicking Adventures Await!

One of the most exciting ways to find a Three-Legged Buffalo Nickel is through cherrypicking. This involves carefully examining large quantities of coins, often obtained from circulation, coin shops, or even estate sales, in the hopes of discovering a hidden gem.

While the odds of finding a Three-Legged Buffalo Nickel in circulation today are slim (most have been snatched up by collectors), there’s still a chance! Imagine the bragging rights if you were to stumble upon one while sorting through your spare change.

Even searching through bulk coin lots or attending local coin shows can yield results. The key is to be patient, persistent, and to know what you’re looking for. And remember, every collector dreams of finding a significant coin in circulation. Embrace that thrill, do your research, and good luck on your quest!

A Nod to the Artist: James Earle Fraser’s Enduring Legacy

You know, behind every great coin, there’s a great artist! And the Buffalo Nickel? Oh, that’s got a fantastic artist – James Earle Fraser. He’s the mastermind who brought that rugged American West vibe right into our pockets (or, well, used to). Let’s give him a shout-out because without him, there’d be no Buffalo Nickel to begin with, and thus, no legendary Three-Legged wonder!

Fraser wasn’t just doodling in his free time; he was a seriously respected sculptor. He wanted the Buffalo Nickel to be authentically American. His inspiration? Real people and animals! He used three different Native American models for the obverse (that’s the “heads” side with the Indian head), and for the buffalo? Well, sources vary, but the most popular model was Black Diamond in the Central Park Zoo! Talk about bringing the wild into the city!

Fraser’s design was more than just a pretty picture; it was a statement. He captured the spirit of the American West, the dignity of Native Americans, and the majesty of the buffalo. It’s no wonder the Buffalo Nickel became such an iconic part of American coinage. It was a bold move away from the more formal, classical designs of the past, and it paved the way for more artistic and meaningful coin designs. It secured James Earle Fraser’s place in the hearts of numismatists (that’s fancy talk for “coin nerds”) forever.

So, whether you’re a seasoned collector or just stumbled upon a peculiar-looking nickel, keep an eye out! That three-legged buffalo might just be your lucky day, turning a few cents into a small fortune. Happy hunting!