The 1937-D Three-Legged Buffalo Nickel is one of the most famous and valuable coins in American numismatics, with specimens in top condition fetching as much as $6.5 million! If you’re not familiar with this particular coin, don’t worry — you might have one tucked away in your change jar without even realizing it.
In this article, we’ll take a deep dive into the history and value of this iconic coin, explain how it got its “three-legged” nickname, and give you tips on how to spot this rare find. Read on to learn more about this once-in-a-lifetime treasure.
The 1937-D Three-Legged Buffalo Nickel: What Makes It Special?
The 1937-D Three-Legged Buffalo Nickel owes its fame to a minting error that occurred when a die used to strike the coin was damaged. The error resulted in one of the buffalo’s legs being erased from the design, leaving only three legs on the animal instead of the usual four. This unusual and highly noticeable flaw turned the coin into an instant collector’s item.
Why Is It So Valuable?
Here are a few key reasons why the 1937-D Three-Legged Buffalo Nickel can be worth up to $6.5 million:
- Minting Error: The “three-legged” feature makes this coin one of the most famous errors in U.S. coinage history. Minting errors like this are incredibly rare and make the coin valuable.
- Rarity: The error only occurred on a very limited number of coins, making this particular variety extremely hard to find.
- High Demand: Coin collectors and enthusiasts are always on the lookout for rare and historical pieces like this, which drives the market value higher.
- Condition Matters: Like all rare coins, the value of the 1937-D Three-Legged Buffalo Nickel increases if it’s in excellent condition. Coins in mint state or those that have been graded highly by professionals can sell for top dollar.
How to Spot a 1937-D Three-Legged Buffalo Nickel
To identify if you have this rare coin, look closely at the design of the buffalo on the reverse side of the nickel. The error is immediately visible because the buffalo appears to be missing its front right leg, creating the “three-legged” appearance.
Here’s how to spot the key details:
- Examine the Buffalo: On the reverse side of the coin, locate the buffalo. The error occurs on the front right leg, which should be visible but is missing on the Three-Legged Buffalo Nickel.
- Look for a Smooth Area: The missing leg leaves a smooth, flat area in its place, which is easy to spot when you compare it with other Buffalo Nickels from the same year.
- Check the Mintmark: This coin was struck at the Denver Mint, so look for the “D” mintmark located just below the buffalo. This mintmark is crucial to identifying the specific error coin you’re looking for.
How Much Is the 1937-D Three-Legged Buffalo Nickel Worth?
The value of a 1937-D Three-Legged Buffalo Nickel depends on its condition and grade. Coins in higher grades (like MS65 or better) can fetch as much as $6.5 million in the market. However, even coins with lesser grades can still be worth significant amounts, ranging from several thousand dollars to over $100,000, depending on their quality.
How to Verify and Grade Your Coin
If you suspect that you have a 1937-D Three-Legged Buffalo Nickel, the next step is to get it professionally graded to determine its value. Here’s how you can verify your coin:
- Use a Magnifying Glass or Loupe: Look closely at the design of the buffalo to confirm if the leg is missing.
- Check Online Resources: Look up images of graded 1937-D Three-Legged Buffalo Nickels to compare your coin to known examples.
- Get It Graded: If you think your coin is valuable, send it to a professional grading service like PCGS or NGC. The professional grade will ensure that your coin is properly authenticated, which can increase its market value significantly.
Where to Sell Your 1937-D Three-Legged Buffalo Nickel
If you’re lucky enough to own a 1937-D Three-Legged Buffalo Nickel, here are some places where you can sell it:
- Coin Auctions: Auction houses like Heritage Auctions and Stack’s Bowers often hold sales dedicated to rare and valuable coins, and this famous nickel would be right at home.
- Online Marketplaces: Websites like eBay can also be a great place to sell your rare coin. Make sure to get it graded first to ensure you get the best price.
- Coin Dealers: Professional dealers at local or national coin shops can help you sell your coin. Just be sure to choose a reputable dealer to ensure you’re getting a fair deal.
- Coin Shows and Conventions: Coin shows are another excellent venue to find collectors and dealers who might be interested in buying your rare coin.
FAQs
1. How do I know if my 1937-D Buffalo Nickel is worth a lot?
Look for the missing leg on the buffalo, and check the coin’s condition. If it has the “three-legged” error, it could be worth thousands, even millions, depending on its grade.
2. Where can I sell my 1937-D Three-Legged Buffalo Nickel?
You can sell your coin at auction houses, through online marketplaces like eBay, or to professional coin dealers. It’s best to get the coin professionally graded before selling.
3. How rare is the 1937-D Three-Legged Buffalo Nickel?
The 1937-D Three-Legged Buffalo Nickel is very rare due to the minting error, making it highly sought after by collectors.
4. What makes the 1937-D Three-Legged Buffalo Nickel worth so much?
The coin’s value comes from its minting error, which makes it unique and difficult to find. Coins in high grades, especially those with no signs of wear, are worth the most.
Conclusion
The 1937-D Three-Legged Buffalo Nickel is a true numismatic treasure, and if you find one in your collection, you could be holding onto a coin worth millions. Whether you’re an experienced collector or just checking your change, keep an eye out for this rare error. A simple coin could be your ticket to a small fortune!