The 1913 Type 2 Buffalo Nickel stands as a testament to early 20th-century American coinage, capturing the nation’s rich heritage and artistic evolution. This particular coin, especially those minted in San Francisco, has become a coveted piece among collectors, with high-grade specimens fetching up to $45,000 at auction.
Historical Significance
Introduced in 1913, the Buffalo Nickel, also known as the Indian Head Nickel, was designed by sculptor James Earle Fraser. The obverse features a composite Native American profile, while the reverse showcases an American bison.
Midway through 1913, the design underwent a modification from Type 1 to Type 2. The initial Type 1 design displayed the bison standing on a raised mound, with the denomination “FIVE CENTS” inscribed below. However, this design led to rapid wear of the denomination inscription. To address this, the Type 2 design recessed the “FIVE CENTS” into the coin’s base, enhancing its durability.
Mintage and Rarity
The 1913 Type 2 Buffalo Nickel was produced across three mints: Philadelphia, Denver, and San Francisco. The San Francisco Mint (“S” mint mark) had the lowest mintage for the Type 2 variant, producing only 1,209,000 coins. This limited production contributes significantly to its rarity and desirability among collectors.
Factors Influencing Value
Several factors determine the value of a 1913 Type 2 Buffalo Nickel:
- Mint Mark: Coins from the San Francisco Mint (“S” mint mark) are scarcer than those from Philadelphia (no mint mark) and Denver (“D” mint mark).
- Condition (Grade): Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation. Uncirculated coins (grades 60 and above) are particularly valuable.
- Strike Quality: Well-struck coins with clear details, especially on the bison’s horn and the Native American’s hair, command higher prices.
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 |
Values are approximate and can vary based on market conditions.
Notable Auction Sales
High-grade 1913-S Type 2 Buffalo Nickels have achieved impressive figures at auctions. For instance, a specimen graded MS67 (Mint State 67) by the Professional Coin Grading Service (PCGS) was sold for $45,000, highlighting the coin’s potential value in superior condition.
Collecting Tips
- Authentication: Due to its value, the 1913 Type 2 Buffalo Nickel is often counterfeited. It’s essential to have the coin authenticated by reputable grading services like PCGS or NGC.
- Preservation: Proper storage in a climate-controlled environment and handling the coin minimally can help maintain its condition and value.
- Market Research: Staying informed about current market trends and recent auction results can guide collectors in making informed purchasing decisions.
Conclusion
The 1913 Type 2 Buffalo Nickel is more than just a piece of currency; it’s a slice of American history and artistry. Its limited mintage, especially from the San Francisco Mint, combined with its unique design evolution, makes it a prized possession for numismatists. For collectors and investors alike, this coin represents a tangible connection to the past and a valuable asset for the future.
FAQs
What distinguishes the Type 2 design from Type 1 in the 1913 Buffalo Nickel?
The Type 2 design features the denomination “FIVE CENTS” recessed below the bison, whereas the Type 1 design had it on a raised mound, which wore down quickly.
Where is the mint mark located on the 1913 Buffalo Nickel?
The mint mark, if present, is found on the reverse side, beneath the words “FIVE CENTS.”
Why are San Francisco-minted 1913 Type 2 Buffalo Nickels more valuable?
With a mintage of only 1,209,000, the San Francisco (“S” mint mark) coins are rarer, increasing their desirability and value.
How can I determine the grade of my 1913 Buffalo Nickel?
Professional grading services like PCGS or NGC can assess your coin’s condition and assign an official grade.
What should I look for to ensure my 1913 Buffalo Nickel is authentic?
Authentic coins will have consistent weight, diameter, and design details. Consulting with a reputable coin dealer or grading service is recommended for verification.
