The world of rare coins is full of surprises, and among the most sought-after treasures is the 1937-D Three-Legged Buffalo Nickel.
What makes this coin so unique is a minting error that left the buffalo with just three visible legs. Though it was a mistake, this coin has become one of the most valuable and intriguing pieces in American numismatics, with prices reaching thousands of dollars.
In this article, we explore the history, rarity, value, and key identification features of this extraordinary coin.
The History of the 1937-D Three-Legged Buffalo Nickel
The Buffalo Nickel, officially known as the Indian Head Nickel, was minted between 1913 and 1938. Designed by sculptor James Earle Fraser, the coin features a Native American profile on the obverse and a buffalo (bison) on the reverse, symbolizing America’s heritage.
In 1937, at the Denver Mint (hence the “D” mintmark), an overzealous polishing of the dies caused the buffalo’s front right leg to disappear, leaving only three legs visible.
This error was likely the result of efforts to remove excessive die damage. Instead of fixing the problem, it created one of the most iconic minting mistakes in U.S. coin history.
Why Is the 1937-D Three-Legged Buffalo Nickel So Valuable?
The 1937-D Three-Legged Buffalo Nickel holds tremendous value for collectors due to several factors:
- Unique Error: The missing leg makes this coin stand out among millions of Buffalo Nickels.
- Historical Significance: It’s one of the most famous minting mistakes in U.S. history.
- Limited Availability: Despite the large number of Buffalo Nickels produced, only a small number of three-legged variations were released.
- Condition and Grade: High-grade specimens of this coin are incredibly rare and command premium prices at auctions.
How Much Is the 1937-D Three-Legged Buffalo Nickel Worth?
The value of the 1937-D Three-Legged Buffalo Nickel depends on its condition (or grade). Here is an approximate price guide based on professional coin grading standards:
| Grade | Approximate Value |
|---|---|
| Fine (F-12) | $600 – $800 |
| Very Fine (VF-20) | $1,000 – $1,500 |
| Extremely Fine (EF-40) | $2,000 – $3,000 |
| About Uncirculated (AU-50) | $5,000 – $6,000 |
| Mint State (MS-63 and above) | $10,000 – $20,000+ |
In auctions, higher-graded examples of the 1937-D Three-Legged Buffalo Nickel have sold for upwards of $50,000, making it a highly desirable addition for serious collectors.
How to Identify the 1937-D Three-Legged Buffalo Nickel
To ensure you’ve found the right coin, look for these key features:
- Missing Front Leg: The buffalo’s front right leg is missing, with only a faint outline or stump visible.
- Die Polish Lines: Look for horizontal polishing lines in the space where the leg should be.
- Mintmark “D”: Located below the buffalo on the reverse side, the coin must display the Denver Mint mark.
- Other Details: The coin must show the year “1937” clearly on the obverse.
Why Collectors Love the 1937-D Three-Legged Buffalo Nickel
Collectors are drawn to the 1937-D Three-Legged Buffalo Nickel for several reasons:
- Historical Value: It represents a rare minting error that offers a glimpse into the challenges of early 20th-century coin production.
- Unique Appearance: The missing leg gives this coin an unmistakable and easily identifiable feature.
- Investment Potential: Its value has steadily increased over the years, making it a solid investment for numismatists.
Preserving the 1937-D Buffalo Nickel
If you own a 1937-D Three-Legged Buffalo Nickel, preservation is critical to maintaining its value. Here are a few tips:
- Store in Coin Holders: Use acid-free coin holders or cases to protect the coin from moisture, dirt, and scratches.
- Avoid Cleaning: Never clean the coin, as it can reduce its value significantly.
- Professional Grading: Consider getting the coin graded and authenticated by reputable services like PCGS or NGC.
The 1937-D Three-Legged Buffalo Nickel is an extraordinary piece of numismatic history. From its unique minting error to its immense value, this coin continues to captivate collectors and investors alike.
Whether you’re a seasoned coin enthusiast or just starting, the story and value of this rare nickel make it a must-know treasure in the world of coin collecting. If you think you might have one of these gems, it’s worth a closer look—you could be holding a small fortune!
Why is the 1937-D Three-Legged Buffalo Nickel rare?
This coin is rare because it was created by accident due to over-polishing of the dies at the Denver Mint, and only a small number were released into circulation.
How can I tell if my Buffalo Nickel is a Three-Legged error?
Check the buffalo’s front right leg. On the 1937-D Three-Legged Nickel, the leg is missing, with only a faint outline or “stump” visible.
What is the highest price paid for a 1937-D Three-Legged Buffalo Nickel?
High-grade specimens of the coin have fetched over $50,000 at auctions, depending on their condition and rarity.
