The 1937-D 3-Legged Buffalo Nickel is one of the most iconic and sought-after error coins in American numismatics.
Recently, a specimen discovered in an estate sale garnered significant attention by fetching a high price at auction, underscoring the enduring allure of this rare coin.
This article delves into the coin’s history, the nature of its minting error, its current market value, and tips for collectors.
The Origin of the 3-Legged Buffalo Nickel
The Buffalo Nickel, also known as the Indian Head Nickel, was minted from 1913 to 1938. In 1937, at the Denver Mint, a minting error occurred during die maintenance.
An overzealous polishing of a worn reverse die inadvertently removed the buffalo’s front right leg, resulting in the distinctive three-legged appearance. This error was not immediately caught, leading to a limited number of these coins entering circulation.
Identifying the 3-Legged Error
To confirm the authenticity of a 1937-D 3-Legged Buffalo Nickel, look for the following characteristics:
- Missing Front Right Leg: The buffalo’s front right leg is absent, with only a faint trace or none at all.
- Polished Die Marks: The area around the missing leg appears smooth due to over-polishing.
- Mint Mark “D”: Located below the “FIVE CENTS” inscription, indicating it was minted in Denver.
- “Stream” Under Belly: A line or “stream” under the buffalo’s belly, a result of die polishing.
Given the prevalence of counterfeits, it’s advisable to have the coin authenticated by reputable grading services like PCGS or NGC.
Market Value and Recent Sale
The value of a 1937-D 3-Legged Buffalo Nickel varies based on its condition. Here’s a breakdown of estimated values:
| Grade | Estimated Value (USD) |
|---|---|
| Good (G4) | $200 – $500 |
| Very Fine (VF20) | $900 – $1,500 |
| About Uncirculated (AU55) | $1,250 – $2,000 |
| Mint State (MS63) | $5,000 – $9,000 |
| Mint State (MS67) | Up to $100,000+ |
In a notable recent sale, a 1937-D 3-Legged Buffalo Nickel graded MS66+ achieved a price of $99,875 at auction, highlighting the coin’s significant value in top condition.
Tips for Collectors
If you’re fortunate enough to own or come across a 1937-D 3-Legged Buffalo Nickel, consider the following:
- Authentication: Ensure the coin’s authenticity through professional grading services.
- Proper Storage: Store the coin in a protective holder or slab to prevent damage.
- Market Research: Stay informed about current market trends and auction results.
- Avoid Cleaning: Cleaning can diminish the coin’s value; it’s best to leave it in its natural state.
The 1937-D 3-Legged Buffalo Nickel stands as a testament to the intrigue of minting errors and their impact on coin collecting. Its rarity, coupled with the story behind its creation, makes it a prized possession for collectors.
Whether you’re a seasoned numismatist or a curious enthusiast, this coin represents a fascinating piece of American history.
FAQs
What caused the 3-legged error in the 1937-D Buffalo Nickel?
The error resulted from over-polishing a worn reverse die at the Denver Mint, which inadvertently removed the buffalo’s front right leg.
How many 1937-D 3-Legged Buffalo Nickels exist today?
While exact numbers are uncertain, experts estimate that approximately 10,000 of these error coins have survived.
How can I verify if my Buffalo Nickel is the rare 3-legged variety?
Look for the missing front right leg, the “D” mint mark, and the polished area under the buffalo’s belly. For confirmation, consult a professional grading service.
Does cleaning the coin affect its value?
Yes, cleaning can significantly reduce a coin’s value. It’s recommended to keep the coin in its original condition and consult professionals for preservation advice.