The 1917-S Buffalo Nickel: A Rare Gem Fetching Over $60K

The 1917-S Buffalo Nickel is a prized possession among numismatists, celebrated for its historical significance, limited mintage, and the allure it brings to coin collections. Minted over a century ago at the San Francisco Mint, this coin’s rarity and unique characteristics have made it a sought-after piece in the numismatic community.

Historical Background

Designed by James Earle Fraser, the Buffalo Nickel, also known as the Indian Head Nickel, was introduced in 1913. The coin’s obverse features a composite portrait of Native American chiefs, while the reverse showcases an American bison, symbolizing the nation’s rich indigenous and wildlife heritage.

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In 1917, the San Francisco Mint produced 4,193,000 Buffalo Nickels. While this number might seem substantial, the survival rate of these coins, especially in higher grades, is remarkably low. Factors such as circulation wear, the coin’s age, and historical melting have contributed to its scarcity today.

Mintage and Rarity

The table below provides a snapshot of the 1917 Buffalo Nickel mintage across different mints:

Source: United States nickel mintage figures

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Among these, the 1917-S variant stands out due to its lower mintage and the challenges in finding well-preserved specimens. The San Francisco Mint’s production practices and the coin’s extensive circulation in the western United States have resulted in fewer high-grade examples surviving.

Factors Influencing Value

Several factors contribute to the high value of the 1917-S Buffalo Nickel:

1. Condition and Grading

The coin’s condition is paramount in determining its value. Coins are graded on a scale from Poor (P-1) to Mint State (MS-70). For the 1917-S Buffalo Nickel:

• Good (G-4): Visible outlines with significant wear.
• Fine (F-12): Moderate wear with more details apparent.
• Extremely Fine (EF-40): Light wear on high points; most details are sharp.
• Uncirculated (MS-60 to MS-70): No signs of wear; original mint luster present.

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As of February 2025, approximate values based on condition are:

Source: APMEX

Notably, a Mint State 67 (MS-67) grade 1917-S Buffalo Nickel achieved a sale price of $138,000 at a Heritage Auctions event in July 2008. This underscores the premium placed on coins in superior condition.

2. Rarity and Survival Rates

Despite the original mintage, it’s estimated that only about 4,500 of these coins exist today in any grade. Of these, approximately 800 are graded MS-60 or better, and a mere 200 are graded MS-65 or higher. This limited availability, especially in higher grades, significantly elevates the coin’s desirability and value.

3. Historical Significance

The 1917-S Buffalo Nickel represents a period in American history marked by westward expansion and a deep appreciation for Native American culture and wildlife. Owning such a coin offers a tangible connection to this era, enhancing its appeal to collectors and historians alike.

Collecting the 1917-S Buffalo Nickel

For enthusiasts looking to acquire this rare gem:

• Authentication: Due to its value, the 1917-S Buffalo Nickel is susceptible to counterfeiting. It’s imperative to have the coin authenticated by reputable grading services such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
• Market Trends: The value of rare coins can fluctuate based on market demand, economic factors, and the discovery of new specimens. Staying informed through numismatic publications and auction results can provide insights into current valuations.
• Preservation: Proper storage is essential to maintain the coin’s condition. Utilizing holders that protect against environmental factors and handling can preserve the coin’s luster and prevent wear.

Frequently Asked Questions (FAQs)

1. Why is the 1917-S Buffalo Nickel considered rare?

Its rarity stems from a combination of low mintage numbers at the San Francisco Mint and the limited number of surviving specimens, especially in higher grades.

2. How can I determine the value of my 1917-S Buffalo Nickel?

The value depends on the coin’s condition, rarity, and current market demand. Consulting recent auction results and price guides from reputable numismatic organizations can provide accurate valuations.

3. What are common counterfeit indicators for this coin?

Counterfeit coins may exhibit inconsistencies in weight, design details, or metal composition. It’s advisable to have the coin examined by professional grading services to ensure authenticity.