The Relevance of the 1913 Type 2 Buffalo Nickel: Why it Goes as High as $45,000
The 1913 Type 2 Buffalo Nickel is an invaluable gem in American coinage. Not only is it extremely rare, but the artistry and importance of this coin are also more than enough to place it in the spotlight. When it comes to San Francisco-minted coins, collectors are particularly enamored with their value. This article will illustrate why this coin can be worth around $45,000.
Historial Backdrop: The Birth of Buffalo Nickel
Buffalo Nickel, or Indian Head Nickel, was introduced in 1913 and designed by James Earle Fraser.- Obverse side A Native American profile.
- Reverse side An American bison.
- However, during 1913, the design was modified.
- Type 1 Design The bison stood on a raised mound with “FIVE CENTS” written beneath.
- Type 2 Design The “FIVE CENTS” was recessed into the base of the coin, making it more durable.
Minting and Rarity of the Buffalo Nickel Type 2
The Type 2 Buffalo Nickel was minted in 1913 at the following locations:
- Philadelphia (no mint mark)
- Denver (D)
- San Francisco (S)
At the San Francisco Mint, only about 1,209,000 coins were produced, which makes it very rare and very hot among collectors.
Factors Impacting a Coin’s Value
- Mint Mark
- By rarity, S coins (San Francisco Mint) are the rarest of all.
- Then, D coins (Denver Mint) followed by those from Philadelphia-no mint mark.
- Grading and Condition
- The grade for coins is based on a scale of 1 to 70.
- Coins having grade 60 and above (Uncirculated) command a higher price.
- Strike Quality
- Well defined coins struck especially clearly on the bison’s horn and on the Native American’s hair will demand higher price levels.
Valuation Table
| Mint Mark | Mintage | Good (G-4) | Fine (F-12) | Extremely Fine (EF-40) | Uncirculated (MS-60) |
|---|---|---|---|---|---|
| None (Philadelphia) | 29,857,186 | $8 | $12 | $17 | $24 |
| D (Denver) | 4,156,000 | $65 | $85 | $115 | $217 |
| S (San Francisco) | 1,209,000 | $106 | $192 | $278 | $501 |
Coins from Different Mints Estimated Values
Record Auction Sales
The high-grade coins of 1913-S Type 2 Buffalo Nickels were able to bring really eye-popping prices in auctions. – For instance, a coin graded MS67 by the Professional Coin Grading Service (PCGS) went for a whopping $45,000. – This puts into view the fact that investors and collectors are really attracted to coins in superb condition.
Useful Tips for Collectors
- Authenticating the Coin
Counterfeit coins are common. Always have the coin authenticated by certified grading services like PCGS or NGC - Preservation and Care
Store the coins in a climate-controlled environment and handle them minimally to maintain their condition. - Stay Informed About the Market
Keep track of current market trends and recent auction results to make informed decisions when purchasing.
Conclusion
A Historical Treasure
The 1913 Type 2 Buffalo Nickel is not just a coin; is a symbol of American history and art.
- Coins from the San Francisco Mint, especially those in limited production, are particularly rare and valuable.
- Its price can reach up to $45,000, making it a valuable asset for both collectors and investors.
FAQs
Q.1.What is the difference between the Type 1 and Type 2 designs of the 1913 Buffalo Nickel?
A. The Type 2 design has the “FIVE CENTS” recessed into the base of the coin, while in the Type 1 design, it was on a raised mound.
Q.2.Where is the mint mark located on the 1913 Buffalo Nickel?
A. The mint mark, if present, is located on the reverse side beneath the words “FIVE CENTS.”
Q.3.Why are San Francisco-minted 1913 Type 2 Buffalo Nickels more valuable?
A. With only 1,209,000 coins minted, the San Francisco Mint coins are rarer, making them more desirable and valuable.
Q.4.How is the grade of a 1913 Buffalo Nickel determined?
A. Grading services like PCGS or NGC assess the condition of the coin and assign an official grade.
Q.5.How can I identify if my 1913 Buffalo Nickel is authentic?
A. Authentic coins will have consistent weight, diameter, and design details. It’s recommended to consult a reputable coin dealer or grading service for verification.