The 1934 Buffalo Nickel stands as a testament to American resilience during the Great Depression. This coin, often overlooked, offers a rich history and significant value for collectors today.
Historical Context
The Buffalo Nickel, also known as the Indian Head Nickel, was minted from 1913 to 1938. Designed by sculptor James Earle Fraser, the coin features a Native American profile on the obverse and an American bison on the reverse.
The 1934 issuance marked the first production of nickels at the Philadelphia Mint since 1931, resuming after a hiatus due to economic challenges.
Design Details
- Obverse: Depicts a composite portrait of three Native American chiefs, symbolizing the nation’s indigenous heritage.
- Reverse: Features a majestic American bison, commonly referred to as a buffalo, embodying the spirit of the American West.
Minting and Specifications
In 1934, the Buffalo Nickel was minted in two locations:
- Philadelphia Mint (No mint mark): Produced approximately 20,213,003 coins.
- Denver Mint (D mint mark): Produced approximately 7,067,000 coins.
Specifications:
- Composition: 75% copper, 25% nickel
- Diameter: 21.2 mm
- Weight: 5 grams
Grading and Value
The value of a 1934 Buffalo Nickel largely depends on its condition and mint mark. Here’s a breakdown:
| Grade | 1934 (No Mint Mark) | 1934-D (Denver Mint) |
|---|---|---|
| Good (G-4) | $1.25 | $1.50 |
| Fine (F-12) | $2.50 | $4.00 |
| Extremely Fine (EF-40) | $10.00 | $20.00 |
| Uncirculated (MS-60) | $18.00 | $45.00 |
Values are approximate and can vary based on market conditions.
Notable Characteristics
- 1934-D Rarity: The 1934-D Buffalo Nickel is considered the rarest of the 1930s Buffalo nickels in mint state and gem condition. Many specimens exhibit weak strikes, particularly in the horn detail of the buffalo.
- Strike Quality: Collectors should be attentive to the strike quality, as many 1934-D nickels were weakly struck, affecting the clarity of details.
Collecting Tips
- Authentication: Due to the coin’s age and value, ensure authenticity by consulting reputable dealers or third-party grading services.
- Preservation: Store coins in a controlled environment to prevent tarnishing and wear.
The 1934 Buffalo Nickel offers a captivating glimpse into America’s past. Its unique design, historical significance, and potential value make it a worthy addition to any coin collection.
FAQs
What makes the 1934-D Buffalo Nickel particularly valuable?
The 1934-D Buffalo Nickel is the rarest of the 1930s Buffalo nickels in mint state and gem condition, making it especially sought after by collectors.
How can I determine the value of my 1934 Buffalo Nickel?
The value depends on factors such as condition (grade) and mint mark. Consulting a current coin value guide or a professional appraiser can provide an accurate assessment.
Where is the mint mark located on the 1934 Buffalo Nickel?
The mint mark, if present, is located on the reverse side of the coin, below the “Five Cents” inscription.