The 1913 Type 2 Buffalo Nickel stands as a testament to early 20th-century American coinage, capturing the nation’s frontier spirit. Recently, a pristine example of this coin fetched $45,000 at auction, underscoring its significant value among collectors.
Historical Background
Introduced in 1913, the Buffalo Nickel, also known as the Indian Head Nickel, was designed by sculptor James Earle Fraser. The obverse features a composite Native American profile, while the reverse showcases an American bison. The coin underwent two design variations in its inaugural year:
- Type 1: Displayed the bison standing on a raised mound.
- Type 2: Modified to depict the bison standing on a flat plain, with the inscription “FIVE CENTS” recessed to reduce wear.
Mintage and Rarity
The 1913 Type 2 Buffalo Nickel was minted across three facilities:
| Mint Location | Mintage Quantity | Mint Mark | Approximate Value (Good Condition) |
|---|---|---|---|
| Philadelphia | 29,857,186 | None | $8+ |
| Denver | 4,156,000 | D | $120+ |
| San Francisco | 1,209,000 | S | $325+ |
Values are approximate and can vary based on market conditions.
Factors Influencing Value
Several factors contribute to the high valuation of the 1913 Type 2 Buffalo Nickel:
- Condition (Grade): Coins are graded on a scale from 1 to 70. Higher grades, especially those in mint state (MS), command premium prices.
- Mint Mark: Coins from the San Francisco Mint (“S” mint mark) are scarcer, enhancing their value.
- Historical Significance: As the first year of the Buffalo Nickel series, 1913 coins hold special appeal.
Notable Auction Sales
High-grade specimens of the 1913 Type 2 Buffalo Nickel have achieved remarkable prices:
- A 1913-S Type 2 nickel graded MS67 sold for $49,938 in February 2013.
- Another 1913 Type 2 Proof nickel graded PR68 fetched $66,700 in August 2005.
Collecting Tips
For enthusiasts aiming to acquire a 1913 Type 2 Buffalo Nickel:
- Authentication: Ensure the coin is certified by reputable grading services like PCGS or NGC to confirm authenticity and grade.
- Condition Assessment: Prioritize coins with minimal wear and clear details, as these retain higher value.
- Market Research: Stay informed about current market trends and recent auction results to make informed purchasing decisions.
The 1913 Type 2 Buffalo Nickel is a cherished piece of American numismatic history. Its distinctive design, coupled with its historical context, makes it a prized asset for collectors. Achieving prices up to $45,000, this coin exemplifies the enduring allure of rare coinage.
FAQs
What distinguishes the Type 2 design of the 1913 Buffalo Nickel?
The Type 2 design features the bison standing on a flat plain with the inscription “FIVE CENTS” recessed, a modification from the Type 1 design where the bison stood on a raised mound.
Why are 1913-S Type 2 Buffalo Nickels more valuable?
The San Francisco Mint produced fewer Type 2 nickels in 1913, making them scarcer and more sought after by collectors.
How can I determine the grade of my Buffalo Nickel?
Professional grading services like PCGS or NGC can assess your coin’s condition and assign an official grade.
What factors affect the value of a 1913 Type 2 Buffalo Nickel?
Key factors include the coin’s condition, mint mark, rarity, and historical significance.
Is it worth investing in a 1913 Type 2 Buffalo Nickel?
For collectors and investors, high-grade examples of this coin can be a valuable addition, given their historical importance and market demand.
