1937-D Three-Legged Buffalo Nickel: A Priceless, Rare Coin Minted in Denver, this coin is one of the rarest, the Three-Legged Buffalo of 1937-D. The distinct characteristic about this coin is that the buffalo has been struck without one of its two front legs. This aspect further differentiates it from other coins and adds to its historical and monetary values.
The Origin of the 1937-D Three-Legged Buffalo Nickel
Buffalo nickels were minted by the US mint at Denver in the year 1937. At this point, a die that was badly worn was polished up so much that ultimately, the design of that particular coin had an unusual flaw. The extreme polishing caused almost an absence of one of buffalo’s four legs. Most especially, the buffalo’s right front leg as seen on the coin’s reverse was eliminated from the die.
When the mint made this error, it set the 1937-D Three-Legged Buffalo Nickel apart from all other coins. It immediately took a place in coin history, but this error was accidental because the workers were clearing the dies. As soon as the mistake was discovered, new dies were immediately put to work to remedy the situation. Nevertheless, a good number of coins had already been minted by that time.
Major reasons for this error:
- Excessive polishing: Mint workers tried to over-polish the die, which completely erased the buffalo’s right front leg.
- Use of aged dies: Dies used to mint coins wear out over time and are polished to make them usable again. In this process, sometimes important parts of the design are removed.
- Lack of monitoring: The quality control system of coins at that time was not that strict, due to which this error was seen in many coins.
- This unique error has made this coin extremely valuable, especially to collectors and investors.
Reason for Mint Error:
In 1937, while producing Buffalo nickel coins in the Denver Mint, one reverse die got over-polished. During this polishing incident resulted in the unfortunate polishing of the right front leg of the buffalo. This particular coin with the die has become popularly known as the Three-Legged Buffalo Nickel, making it very rare and valuable.
How do you identify a 1937-D Three-Legged Buffalo Nickel?
To identify this rare coin, check the opposite side of this coin.. You will see only three legs of the buffalo:
- Left front leg
- Left rear leg
- Right rear leg
- The right front leg will be absent completely.
- Factors affecting pricing
There are several main features that point toward pricing of the 1937-D three-legged Buffalo nickel:
- Condition (Grade): The better the condition of the coin, the greater its price.
- Rarity: It is believed that fewer than 10,000 such coins are known to exist in today’s market.
- Demand: The high demand for this coin makes it even more valuable.
Grade and estimated value
| Grade | Estimated Value |
|---|---|
| Fine (F-12) | $500 – $1,000 |
| Very Fine (VF-20) | $1,000 – $2,000 |
| Extremely Fine (XF-40) | $2,000 – $5,000 |
| About Uncirculated (AU-50) | $5,000 – $10,000 |
| Mint State (MS-60) | $10,000 – $20,000 |
| Gem Mint State (MS-65) | $50,000 – $100,000 |
Famous auction records
Coins in this family have sold for extremely high prices. For example, in the year 2023, a 1937-D three-legged Buffalo nickel (MS66+) was sold for over $120,000. Another high-quality coin was auctioned for $150,000 in 2024, which indicates its increasing demand.
Important Tips for Collectors
- Authentication : This coin being very expensive, lots of counterfeits are in circulation. Hence, it is very important for any coin to be authenticated before purchasing.
- Storage : Store the coin in a dry and dust-free environment to ensure further conservation of the coin.
- Market Research : The price of this coin keeps changing with the passage of time. If you are planning to buy or sell it, do an ongoing monitoring of the market price.
Conclusion:
The 1937-D Three-Legged Buffalo Nickel is not just a coin but a rare and priceless world history. Rarity, historical importance, and high demand make it an important asset for collectors. So, the coin is not just valuable financially, but extremely important in terms of history as well.
If you are planning to buy or sell this coin, do verify its authenticity along with checking the current market value. Consult with properly reputed coin experts before going for any deals, and have the coin graded with a good grading service. Also, make sure that the coin will be kept in stored condition so that it remains in good condition and fetches a better price in the future.
FAQs
Q.1 Why is the 1937-D Three-Legged Buffalo Nickel so valuable?
A. The 1937-D Three-Legged Buffalo Nickel is highly valuable due to its unique minting error, extreme rarity, and high collector demand. The missing front leg on the buffalo makes it one of the most famous error coins in U.S. history.
Q.2 How was the Three-Legged Buffalo Nickel created?
A. The error resulted from excessive polishing of the coin die at the Denver Mint in 1937. In an attempt to remove die imperfections, a mint worker inadvertently erased the buffalo’s front right leg.
Q.3 How rare is the 1937-D Three-Legged Buffalo Nickel?
A. Although the exact number of surviving examples is unknown, experts estimate fewer than 10,000 exist today. Many were pulled from circulation early, making them scarce in high grades.
Q.4 What is the highest price ever paid for a 1937-D Three-Legged Buffalo Nickel?
A. As of recent auctions, a high-grade 1937-D Three-Legged Buffalo Nickel (graded MS66+) sold for approximately $270,000. Prices depend on coin condition and market demand.
Q.5 Are all 1937-D Buffalo Nickels Three-Legged?
A. No, only a small fraction of 1937-D Buffalo Nickels have the missing leg error. Most 1937-D nickels were struck normally with all four legs visible.