The 1916 Buffalo nickel, also known as the Native American Head nickel, is a sought-after collectible that captures the essence of American history through its unique design and striking errors. Recent auction results show just how valuable this coin can be; for example, one sold for an astonishing $105,000 due to a specific minting error known as “double die” or “doubling.” This guide will delve into the factors that contribute to the value of the 1916 Buffalo nickel, how to identify doubling errors, and some fascinating historical background on this iconic coin.
Table of Contents
Table of Valuable 1916 Buffalo Nickel Features
| Feature | Details | Importance in Value |
|---|---|---|
| Double Die Error | Doubling on the 1, 9, and 6 of the date | High-value driver |
| Unique Native American Design | Modeled from real Native American chiefs | Historic significance |
| Bison on Reverse | Inspired by a bison at the Bronx Zoo | Adds collectible value |
| Philadelphia Mint | No mint mark | Common, but some rare variants exist |
What Makes the 1916 Buffalo Nickel Valuable?
Several factors contribute to the value of a 1916 Buffalo nickel:
Double Die Error
One of the most significant reasons for the coin’s value is the double die error. This rare minting error occurs when the die strikes the coin multiple times, slightly misaligning the images. On the 1916 Buffalo nickel, this doubling is visible on the numbers 1, 9, and 6 in the date, making it a high-value driver among collectors.
Historical Design
The Buffalo nickel showcases a striking design featuring a Native American portrait on the front (obverse) and a bison on the back (reverse), both crafted by sculptor James Earle Fraser. The use of real Native American chiefs as models for the obverse adds a layer of historic significance that collectors appreciate.
Limited Minting
Unlike modern coins that are produced in large quantities, the Buffalo nickel was minted in smaller numbers, increasing its rarity. This limited minting makes surviving examples, especially those with unique errors, more precious to collectors.
If you suspect you have a valuable Buffalo nickel, consider having it graded by a professional service such as the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Company (NGC). They can verify the coin’s condition and any rare errors, which can significantly affect its market value.
Historical Background of the Buffalo Nickel
The Buffalo nickel was minted from 1913 to 1938 and is renowned for its bold and artistic design. Here are some key details about its history:
Obverse Design
The front of the coin features a right-facing Native American head, a portrayal that reflects the dignity and respect for Native American culture. Fraser is said to have used three Native American chiefs as models, imbuing the design with authenticity.
Reverse Design
On the reverse side, you’ll find a bison, often mistakenly referred to as a “buffalo.” This depiction was inspired by a real bison that resided in the Bronx Zoo, making it a memorable representation of American wildlife.
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Minting Location
Most Buffalo nickels were produced at the Philadelphia Mint and typically do not carry a mint mark. However, some rare variants minted at different locations can also command high prices among collectors.
How to Spot Doubling Errors on Buffalo Nickels
To identify a doubling error, also known as a double die, carefully inspect the date on the 1916 Buffalo nickel. This error manifests as a faint, doubled image when the die shifts slightly between strikes. Focus particularly on the numbers 1, 9, and 6; if you notice a doubling effect, you may possess a highly valuable coin.
The 1916 Buffalo nickel is a coveted collectible, particularly when it features the rare doubling error. With its rich history and unique design, this coin serves as a captivating piece of American heritage. If you own a Buffalo nickel, take the time to inspect it for potential doubling errors and consider professional grading to assess its value. Whether you’re a seasoned collector or just starting, the Buffalo nickel is an iconic piece well worth your exploration.