Have you ever considered that the loose change jingling in your pocket might contain a small fortune? While most nickels are worth just five cents, certain rare specimens from 1935 could be worth tens or even hundreds of thousands of dollars.
As we move through 2025, the value of these numismatic treasures continues to climb, making this the perfect time to check your coin jars and piggy banks for these hidden gems.
The 1935 Buffalo Nickel, with its iconic Native American chief on the obverse and American bison on the reverse, has become one of the most sought-after coins in American numismatics.
Designed by sculptor James Earle Fraser, this coin represents a fascinating piece of American history and culture. But what makes some of these nickels so incredibly valuable? Let’s dive into the world of rare 1935 Buffalo Nickels and discover why you should think twice before spending one.
The History and Design of the 1935 Buffalo Nickel
The Buffalo Nickel series, officially known as the “five-cent piece,” was produced by the United States Mint from 1913 to 1938. By 1935, the series was nearing its end, but the coins produced that year have become particularly valuable to collectors due to certain rare varieties and exceptional specimens.
The design features a composite portrait of a Native American chief on the obverse, created by combining features from different tribes rather than depicting a specific individual.
This artistic choice was meant to represent the broader Native American culture rather than a single tribe. The reverse showcases an American bison (commonly called a buffalo), standing proudly as a symbol of the American frontier and wilderness.
Made of 75% copper and 25% nickel, these coins measure 21.21mm in diameter and weigh 5 grams. While these specifications might seem ordinary, the artistry and historical significance of the design make the Buffalo Nickel a standout in American coinage.
The texture on the chief’s hair and feathers, along with the bison’s shaggy fur, demonstrates remarkable detail that collectors continue to appreciate nearly a century later.
Valuable Varieties of the 1935 Buffalo Nickel
The Rare 1935 Doubled Die Reverse
The most valuable variety of the 1935 Buffalo Nickel is the Doubled Die Reverse. This error occurred during the die-making process when the die received multiple impressions at slightly different angles. The doubling is most noticeable in the words “FIVE CENTS” and “E PLURIBUS UNUM” on the reverse of the coin.
This variety is exceptionally rare and highly sought after by serious collectors. According to recent auction data, a 1935 Buffalo Nickel Doubled Die Reverse in Mint State condition sold for $104,650 in 2007. More recently, in 2024, similar specimens have sold for around $5,760. While this represents a decrease from the peak price, it still demonstrates the significant value these error coins command.
Mint Mark Varieties and Their Values
The 1935 Buffalo Nickel was produced at three different mints, each with its own value profile:
- Philadelphia (No Mint Mark): The Philadelphia Mint produced the highest number of Buffalo Nickels in 1935, with a mintage of 58,264,000. Despite this high production, specimens in pristine condition can be extremely valuable. A 1935 Buffalo Nickel in MS-67+ condition can fetch around $7,000, while the highest auction price for a perfect specimen reached $57,500 in 2007.
- Denver (D Mint Mark): With a mintage of 12,092,000, the 1935-D Buffalo Nickel is considerably rarer than its Philadelphia counterpart. In mint state and gem condition, it’s regarded as the rarest of the 1935-1938 Buffalo Nickel issues. High-grade specimens can command prices up to $20,000, with even repunched mint mark varieties (1935-D/D) selling for $840 in recent auctions.
- San Francisco (S Mint Mark): The San Francisco Mint produced the fewest 1935 Buffalo Nickels, with a mintage of just 10,300,000. This relative scarcity makes the 1935-S Buffalo Nickel particularly valuable in high grades. A top-condition specimen sold for $15,275 in 2019, with recent auction prices around $2,520 for exceptional examples.
Grading and Condition: The Key to High Values
The value of a 1935 Buffalo Nickel is heavily dependent on its condition or grade. Professional grading services use a scale from 1 to 70, with 70 representing a perfect, flawless coin. For 1935 Buffalo Nickels, coins graded MS-67 or higher can be worth tens of thousands of dollars.
Understanding the Grading Scale
Here’s a simplified breakdown of how condition affects the value of 1935 Buffalo Nickels:
| Condition | Grade | 1935 (No Mint Mark) | 1935-D | 1935-S | 1935 Doubled Die Reverse |
|---|---|---|---|---|---|
| Very Fine to Extremely Fine | VF-20 to EF-40 | $6-$25 | $12-$50 | $15-$60 | $200+ |
| About Uncirculated to Mint State | AU-50 to MS-63 | $30-$150 | $75-$300 | $100-$500 | $500-$1,500 |
| High Mint State | MS-65+ | $250-$500+ | $500-$1,200+ | $700-$2,500+ | $2,000+ |
| Superb Mint State | MS-67+ | $7,000 | $20,000 | $7,000 | $50,000+ |
| Perfect Specimen | MS-68+ | $57,500+ | – | $15,275+ | $104,650+ |
The jump in value from circulated to uncirculated condition is substantial, and the premium for superb mint state coins is astronomical. This is why it’s crucial to have your coins professionally graded if you suspect you have a valuable specimen.
How to Identify a Valuable 1935 Buffalo Nickel
If you think you might have a valuable 1935 Buffalo Nickel, here are some key features to look for:
- Check the Date and Mint Mark: Confirm that the coin is indeed from 1935. The mint mark, if present, can be found on the reverse below the denomination “FIVE CENTS.” Remember that Philadelphia-minted coins don’t have a mint mark.
- Examine for Doubling: Using a magnifying glass, carefully examine the reverse of the coin, particularly the words “FIVE CENTS” and “E PLURIBUS UNUM,” for signs of doubling.
- Assess the Condition: Look for signs of wear on high points such as the chief’s cheekbone and the bison’s shoulder. Coins with minimal wear will be more valuable.
- Check for Full Horn: One of the first areas to wear on a Buffalo Nickel is the bison’s horn. A coin with a complete, well-defined horn is more desirable and valuable.
- Look for Errors: Besides the doubled die variety, other errors like off-center strikes, repunched mint marks, or clipped planchets can significantly increase a coin’s value.
Remember that authenticity is crucial. If you believe you have a valuable specimen, consider having it authenticated and graded by a reputable service like PCGS or NGC.
Conclusion
The 1935 Buffalo Nickel represents a fascinating intersection of American history, art, and numismatic rarity. While most examples are worth only a few dollars, certain rare varieties and high-grade specimens can command prices from thousands to hundreds of thousands of dollars. The doubled die reverse variety, in particular, stands as one of the most valuable error coins in American numismatics.
As we’ve seen, the condition of the coin plays a crucial role in determining its value, with pristine, uncirculated examples fetching the highest prices. So before you casually spend that old nickel from 1935, take a closer look – you might be holding a small fortune in the palm of your hand.
Whether you’re a seasoned collector or someone who just discovered an old coin in a drawer, the thrill of potentially finding a rare treasure is universal. And with auction prices for the finest specimens reaching well into six figures, that humble nickel could potentially change your life.
FAQs About Valuable 1935 Buffalo Nickels
- How can I tell if my 1935 Buffalo Nickel is the valuable doubled die reverse variety? Look closely at the reverse of the coin, particularly the words “FIVE CENTS” and “E PLURIBUS UNUM.” If you see clear doubling in these inscriptions, you might have the rare doubled die reverse variety. A magnifying glass will help you spot this error more easily.
- Does cleaning my 1935 Buffalo Nickel increase its value? No! Never clean your coins. Cleaning damages the original surface and can significantly reduce a coin’s value. Professional collectors and dealers prefer coins with original surfaces, even if they appear toned or tarnished.
- How rare is the 1935-D Buffalo Nickel compared to other years? The 1935-D Buffalo Nickel, with a mintage of about 12 million, is considered the rarest of the 1935-1938 Buffalo Nickel issues in mint state and gem condition. While not rare in circulated grades, finding high-grade specimens can be challenging.
- What caused the Buffalo Nickel design to be replaced in 1938? The Buffalo Nickel design had persistent problems with die life and weak striking that were never fully resolved. After the minimum 25-year period required by law, the Mint replaced it with the Jefferson Nickel design in 1938, which addressed these technical issues.
- Where can I get my 1935 Buffalo Nickel professionally graded? Professional coin grading services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) can authenticate and grade your coin. These services provide a protective holder and a certificate of authenticity, which can significantly increase the marketability of valuable coins.
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