The 1937 Three-Legged Buffalo Nickel And The Error: The 1937-D Three-Legged Buffalo Nickel is one of the most fascinating and valuable coins in American numismatic history. This unique error coin, minted at the Denver Mint, has captivated collectors with its rarity, historical significance, and intriguing story.
With some specimens selling for as much as $350,000 in pristine condition, the coin is a testament to the allure of minting mistakes and the rich heritage of U.S. coinage. For both seasoned numismatists and curious newcomers, understanding this coin’s history, value, and characteristics offers a glimpse into the complexities of coin production and the joy of collecting.
The 1937 Three-Legged Buffalo Nickel And The Error
| Aspect | Details |
|---|---|
| Error Description | Missing front leg on the buffalo due to excessive die polishing. |
| Mint Location | Denver Mint. |
| Value Range | $600 in circulated condition to over $350,000 in uncirculated, mint-state condition. |
| Rarity | Highly sought after due to its unique error and historical significance. |
| Official Resource | PCGS – 1937-D Three-Legged Buffalo Nickel |
What Is the 1937-D Three-Legged Buffalo Nickel?
The Three-Legged Buffalo Nickel is a variety of the 1937-D Buffalo Nickel, a classic U.S. coin featuring a Native American profile on the obverse (front) and an American buffalo on the reverse (back). This variety was accidentally created during routine maintenance at the Denver Mint. Mint workers, attempting to remove clash marks from the die, over-polished the reverse die, inadvertently erasing the buffalo’s front right leg. This unique mistake gave birth to the famous three-legged variety, making it one of the most recognizable and sought-after error coins in history.
This coin’s distinct design flaw turned what might have been a mundane nickel into a highly coveted collector’s item. For collectors, it represents not only a valuable investment but also a tangible piece of American history that reflects the artistry and challenges of early 20th-century minting processes. Beyond its monetary value, the coin stands as a cultural artifact, encapsulating a fascinating moment in the evolution of U.S. coinage.
How Did the Error Happen?
In 1937, the Denver Mint used dies to produce millions of Buffalo Nickels. During the minting process, some dies developed clash marks—damage caused when the obverse and reverse dies struck each other without a planchet in between. To repair the dies, mint workers polished them to remove the marks. However, the reverse die for this batch of nickels was excessively polished, which removed the buffalo’s front right leg entirely.
This over-polishing left a distinctive “stream-like” appearance beneath the buffalo’s belly and created a coin that would become a legend among collectors. Unlike intentional design changes, this accidental modification highlights the human element in coin production. Each coin tells a story of the meticulous work involved and the occasional errors that make certain pieces extraordinary.
Value and Rarity of the Three-Legged Buffalo Nickel
The 1937-D Three-Legged Buffalo Nickel has become one of the most valuable error coins, with its price varying based on condition, grading, and demand. Here is a detailed breakdown of its value:
Circulated Condition
- Value: Between $600 and $1,000, depending on wear and grading.
- These coins show significant circulation wear but retain the defining error, making them accessible to mid-level collectors.
Uncirculated Condition
- Value: Between $5,000 and $25,000, depending on the grade and market conditions.
- Coins graded as Mint State (MS) 60 or higher are rarer and command higher prices.
Pristine Condition
- Value: Up to $350,000 for coins graded MS-67 or higher by professional grading services like PCGS or NGC.
- These coins are exceptionally rare and often headline major auctions, attracting serious collectors and investors.
Historical Significance
The rarity of the Three-Legged Buffalo Nickel is amplified by its status as a product of unintentional error. Coins like this are highly desirable because they represent both artistic craftsmanship and human oversight, making them a perfect blend of history and intrigue. For the latest value estimates and auction results, visit the PCGS valuation page.
The 1937 Three-Legged Buffalo Nickel And The Error Identify a Genuine 1937-D Three-Legged Buffalo Nickel
Due to its value, counterfeit and altered coins are common. Here are detailed tips to identify an authentic Three-Legged Buffalo Nickel:
- Missing Front Leg: The buffalo’s front right leg is completely absent. This is the defining feature of the coin and must be carefully examined.
- Stream-Like Texture: Look for a distinct “stream-like” texture beneath the buffalo’s belly, a result of the die polishing process. This texture is unique to the Three-Legged variety.
- Moth-Eaten Back Leg: The remaining back leg often appears rough or “moth-eaten” due to over-polishing.
- Denver Mint Mark (D): Located below the “Five Cents” inscription, the “D” confirms its origin at the Denver Mint.
- Examine Under Magnification: Use a magnifying glass or loupe to inspect the coin closely for these identifying features.
For added assurance, consider having the coin authenticated and graded by a professional service such as PCGS or NGC. Graded coins provide a certificate of authenticity and guarantee their condition, increasing their value and marketability in the collector’s market.
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Collecting the 1937-D Three-Legged Buffalo Nickel
Why Is This Coin Significant?
- Historical Insight: It offers a glimpse into the imperfections of early 20th-century minting processes, showcasing how even small errors can create enduring legacies.
- Scarcity and Demand: The error’s limited production makes it one of the most sought-after U.S. coins among collectors worldwide.
- Unique Aesthetic: Its incomplete design makes it visually striking and a conversation starter, appealing to both novice and experienced collectors.
Tips for Collectors
- Start Small: New collectors can begin with circulated examples to familiarize themselves with the coin’s features and learn about its history.
- Invest in Quality: Higher-grade coins, while more expensive, tend to appreciate in value over time and make excellent long-term investments.
- Preserve Properly: Store the coin in acid-free holders or protective slabs to prevent damage from moisture, air exposure, and handling.
- Research Extensively: Educate yourself about the coin’s history, market trends, and current values to make informed purchasing decisions.
- Attend Auctions: High-quality Three-Legged Buffalo Nickels often appear at specialized auctions, providing opportunities to acquire premium specimens.
FAQs On The 1937 Three-Legged Buffalo Nickel And The Error
1. Why does the 1937-D Three-Legged Buffalo Nickel have only three legs?
The missing leg is due to excessive die polishing, a process intended to remove die imperfections but which inadvertently removed the front right leg.
2. How much is a 1937-D Three-Legged Buffalo Nickel worth?
Its value ranges from $600 in circulated condition to over $350,000 in pristine condition, depending on its grade and market demand.
3. How can I verify if my coin is genuine?
Examine the coin for the key identifiers, such as the missing front leg, stream-like texture, and moth-eaten back leg. Professional authentication is highly recommended.
4. Are there other notable Buffalo Nickel errors?
Yes, other errors include the 1916 Doubled Die Obverse and the 1936 Doubled Die Obverse, both of which are also highly valuable.
5. Where can I sell a 1937-D Three-Legged Buffalo Nickel?
Consider reputable auction houses, coin dealers, or online platforms like eBay, but ensure the coin is graded for maximum value.
