The 1937 Buffalo Nickel Proof is a rare and highly sought-after coin in the world of numismatics. Its unique design and limited production make it an exciting piece for collectors. In this guide, we will explore everything you need to know about the 1937 Buffalo Nickel Proof, including its history, features, and value. Whether you are a beginner or an experienced collector, understanding this coin will help you appreciate its significance in the numismatic world.
What is a Buffalo Nickel?
The Buffalo Nickel, also known as the Indian Head Nickel, was first introduced in 1913. It features an iconic design, with a Native American on the obverse (front) and an American bison (buffalo) on the reverse. The design was created by James Earle Fraser, and it quickly became a favorite among coin collectors. The 1937 version, like other years, was minted in both regular and proof versions, with the proof coins being much rarer and more valuable.
Features of the 1937 Buffalo Nickel Proof
The 1937 Buffalo Nickel Proof has several distinguishing features that make it stand out:
- Proof Quality: Proof coins are specially minted with a higher level of craftsmanship, giving them a sharp and clear design. The 1937 Buffalo Nickel Proof is made using polished dies, which results in a mirror-like finish on the coin’s surface.
- Design: On the obverse, the coin features a portrait of a Native American chief, believed to be based on a blend of three different Native American leaders. The reverse shows an American bison standing on a mound, which was modeled after a buffalo named “Black Diamond” at the Central Park Zoo in New York.
- Mintmark: The 1937 Buffalo Nickel Proof does not have a mintmark, as it was produced at the Philadelphia Mint.
- Edge: Like most coins from this period, it has a smooth edge without any lettering or reeding.
| Topic | Details |
|---|---|
| What is a Buffalo Nickel Proof? | A special version of the regular Buffalo Nickel, struck with high-quality, mirror-like finishes for collectors. |
| How Many Were Made? | Only about 3,500 Buffalo Nickel Proofs were minted in 1937, making it rare compared to millions of regular circulation coins. |
| Why is it Valuable? | Its rarity, high-quality finish, historical design, and strong demand from collectors contribute to its value. |
| How to Determine Value? | The value depends on the coin’s condition or grade. Higher grades, like PR68 or PR70, are worth significantly more. |
| Highest Grade for 1937 Proof | The highest grade is PR70 (perfect condition), though most coins are graded PR65 to PR67, which are still valuable. |
| Design Features | The obverse shows a Native American chief, and the reverse shows an American bison. The bison was modeled after “Black Diamond” at the Central Park Zoo. |
| Where to Buy/Sell | You can buy or sell through coin dealers, online marketplaces (like eBay), or coin auctions. |
| How to Preserve the Coin? | Store in a protective case or coin holder to prevent damage from moisture, dirt, or handling. Avoid touching with bare hands. |
| Market Demand | Due to its rarity and design, it’s highly sought after by both seasoned collectors and investors, contributing to its increasing value. |
Value of the 1937 Buffalo Nickel Proof
The value of the 1937 Buffalo Nickel Proof can vary widely depending on its condition, with higher-grade examples being worth significantly more. As of recent years, prices for this coin can range from a few hundred dollars for lower-grade coins to over $10,000 for a coin in PR68 or higher condition.
If you are considering purchasing this coin, be sure to consult with a trusted dealer or check the latest auction results to get an accurate idea of its current market value.
Why Collect the 1937 Buffalo Nickel Proof?
There are several reasons why collectors are drawn to the 1937 Buffalo Nickel Proof:
- Historical Significance: This coin represents an important period in American history and features iconic designs that have become symbols of American culture.
- Limited Supply: With only a small number of proofs struck in 1937, this coin is a rare find and a valuable addition to any collection.
- Beautiful Design: The detailed and timeless design of the Buffalo Nickel makes it a favorite among numismatists and collectors alike.
FAQs
What is a Buffalo Nickel Proof?
A Buffalo Nickel Proof is a special version of the regular Buffalo Nickel, which was minted with high-quality, mirror-like finishes. Proof coins are struck using polished dies, making them look much sharper and clearer than regular circulation coins. The 1937 Buffalo Nickel Proof is particularly rare due to its limited mintage and the careful production process involved.
How Many 1937 Buffalo Nickel Proofs Were Made?
Only about 3,500 1937 Buffalo Nickel Proofs were produced. This number is significantly smaller compared to regular circulation Buffalo Nickels, making it one of the rarer coins in the series. The limited production number is one of the key factors that contribute to its high value among collectors.
How Do I Determine the Value of a 1937 Buffalo Nickel Proof?
The value of a 1937 Buffalo Nickel Proof depends on its condition, or grade. Coins are graded on a scale from 1 to 70, with higher grades indicating better condition. A coin in perfect condition, graded PR70, would be worth much more than one in PR60. To get an accurate value, check recent auction results or consult with a trusted coin dealer.
What Is the Highest Grade for a 1937 Buffalo Nickel Proof?
The highest grade for a 1937 Buffalo Nickel Proof is PR70. However, few coins reach this perfect grade. Coins graded PR65 to PR67 are more common, but they are still highly valuable and sought after. The higher the grade, the more valuable the coin.
Where Can I Buy or Sell a 1937 Buffalo Nickel Proof?
You can buy or sell a 1937 Buffalo Nickel Proof through several channels:
Coin Dealers: Trusted coin dealers can help you find or sell rare coins.
Online Marketplaces: Websites like eBay and online coin shops offer a range of Buffalo Nickel Proofs.
Coin Auctions: High-end auctions often feature rare coins, including the 1937 Buffalo Nickel Proof.
The 1937 Buffalo Nickel Proof is a remarkable coin that stands out in the world of numismatics. Its combination of rarity, stunning design, and historical importance makes it a valuable piece for collectors. Whether you’re looking to add it to your collection or simply appreciate its beauty, the 1937 Buffalo Nickel Proof offers something special for every enthusiast. Keep in mind that condition plays a major role in its value, so always ensure your coin is well-preserved.
