Rare Buffalo Nickel Sells For $322k In 2008
In the world of coin collecting, there are few pieces as highly sought after as the buffalo nickel. Minted between 1913 and 1938, the buffalo nickel features a stunning design of an American bison and a Native American chieftain, capturing a moment in American history where the relationship between Native Americans and settlers was tumultuous.
The coin is made of 25% nickel and 75% copper, and its value is determined by its year of production and condition. However, one buffalo nickel stands out above the rest: the 1918/7-D series, which sold for a staggering $322,000 in 2008.
This rare buffalo nickel is considered one of the most valuable coins in the world, and its sale in 2008 caused a stir in the coin collecting community. But what makes this particular coin so special? In this article, we will explore the history and design of the buffalo nickel, how to evaluate it and spot fakes, and the value and rarity of this iconic piece of American history.
Whether you are a collector or simply interested in the history of American currency, the story of the rare buffalo nickel and its $322,000 sale in 2008 is one that fascinates and intrigues.
History and Design
The buffalo nickel, minted by the US government between 1913 and 1938 and designed by James Earle Fraser, played an important role in the history of America's relationship with Native Americans during this period and underwent a few minor changes during its 25-year run.
The coin features an American bison on one side and a Native American chieftain on the other, both iconic figures in American history. The bison was a symbol of the American west, and the Native American chieftain represented the people who inhabited that land long before European settlers arrived.
James Earle Fraser designed both sides of the buffalo nickel, which was only minted by three different mints: Philadelphia, Denver, and San Francisco.
The buffalo nickel underwent a few minor changes during its 25-year run, including the removal of the words 'five cents'from the reverse side of the coin in 1938. The design was replaced by the Jefferson nickel, which is still in circulation today.
Despite its relatively short run, the buffalo nickel remains one of the most popular U.S. coins and is worth far more than its face value to collectors and investors alike.
Evaluating and Spotting Fakes
Evaluating the condition, mint mark, color, and strike of a buffalo nickel is crucial for determining its value and authenticity. A buffalo nickel's condition is graded on a scale from poor to mint state, with higher grades indicating better preservation. The mint mark identifies where the coin was minted, with the most valuable buffalo nickels typically coming from the Denver or San Francisco mints. The color of a buffalo nickel can vary depending on its age and exposure to the environment. Finally, the strike refers to the quality of the coin's impression, with better strikes being more valuable.
Spotting a fake buffalo nickel requires a keen eye for detail. Scratches, stains, dirt, or other blemishes can indicate that the coin is not genuine. Checking the mint mark is also crucial, as some counterfeiters may try to pass off a buffalo nickel from a less valuable mint as coming from a more valuable one. Additionally, the color of a fake buffalo nickel may not match that of a genuine coin. Finally, examining the strike can also help identify a fake buffalo nickel, as counterfeiters may not be able to create a high-quality impression. Overall, evaluating a buffalo nickel and spotting fakes is essential for collectors and investors alike, as it can mean the difference between acquiring a valuable coin or a worthless fake.
|Condition||Scratches, stains, dirt, or other blemishes|
|Mint mark||Checking the mint mark|
|Color||Examining the color of the coin|
|Strike||Examining the strike of the coin|
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Value and Rarity
Assessing the worth of a buffalo nickel entails considering factors such as its year of production, condition, and any minting errors. For collectors and investors alike, the rarity of a buffalo nickel significantly affects its value. The 1918/7-D series is the most valuable, but other rare buffalo nickels, such as the over 3, doubled die, and 3-1/2 legs, can also fetch a high price.
Mint condition, without scratches, stains, dirt, or other blemishes, is also significant in determining the worth of a buffalo nickel.
The rarity of a buffalo nickel is what makes it an appealing investment for collectors. The thrill of finding a rare buffalo nickel can evoke a sense of excitement and satisfaction in collectors, as they possess a unique piece of American history.
Owning a rare buffalo nickel can also serve as a reminder of America's past, especially in the relationship between the Native Americans and the government during the early 1900s. Therefore, the value of a buffalo nickel goes beyond its monetary worth and can have sentimental significance for collectors.
Where to Buy Buffalo Nickel
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