In the world of numismatics, few coins capture the essence of early 20th century America quite like the Buffalo Nickel. Among these, the 1929 issue holds a special place, not just for its age, but for the economic and cultural context in which it was minted. This comprehensive guide will delve deep into the world of 1929 Buffalo Nickels, exploring their history, characteristics, value, and significance to collectors.
A Journey Through Time: The Buffalo Nickel's Story
Origins and Design
The Buffalo Nickel, first minted in 1913, was the brainchild of James Earle Fraser, a renowned American sculptor. Fraser's design was a departure from previous coins, showcasing distinctly American imagery:
- Obverse: A profile of a Native American, combining features from several tribal chiefs
- Reverse: An American bison, popularly known as a buffalo, standing on a mound
This design resonated with the American public, symbolizing the nation's frontier spirit and indigenous heritage. The Buffalo Nickel was produced from 1913 to 1938, with the 1929 issue falling near the midpoint of its run.
The Significance of 1929
The year 1929 was pivotal in American history, marking the beginning of the Great Depression. Despite economic turmoil, the U.S. Mint continued producing coins, including a substantial number of Buffalo Nickels. This context adds a layer of historical significance to 1929 Buffalo Nickels, making them tangible links to a transformative era in American history.
Technical Specifications and Mintage
Physical Characteristics
Understanding the physical properties of the 1929 Buffalo Nickel is crucial for collectors:
- Composition: 75% copper, 25% nickel
- Weight: 5 grams
- Diameter: 21.21 mm
- Thickness: 1.95 mm
- Edge: Plain
Mintage Figures
The 1929 Buffalo Nickel was produced at three different mints, each contributing to the total mintage:
| Mint Location | Mint Mark | Mintage |
|---|---|---|
| Philadelphia | None | 36,446,000 |
| Denver | D | 8,370,000 |
| San Francisco | S | 7,754,000 |
| Total | 52,570,000 |
These relatively high mintage numbers contribute to the general availability of 1929 Buffalo Nickels in circulated conditions.
Grading: The Key to Value
The condition of a coin is paramount in determining its value. The Sheldon Scale, ranging from Poor (P-1) to Perfect Mint State (MS-70), is the standard grading system used by numismatists.
Common Grades for 1929 Buffalo Nickels
- Good (G-4): Heavily worn, but major design elements still visible
- Very Good (VG-8): Wear is evident, but more details are clear
- Fine (F-12): Moderate wear, with some finer details visible
- Very Fine (VF-20): Light wear on high points, most details clear
- Extremely Fine (EF-40): Slight wear on high points, sharp details
- About Uncirculated (AU-50 to AU-58): Minimal wear, some luster remains
- Mint State (MS-60 to MS-70): No wear, varying degrees of luster and contact marks
Valuation Guide: What's Your 1929 Buffalo Nickel Worth?
The value of a 1929 Buffalo Nickel can vary significantly based on its mint mark, condition, and any unique characteristics. Here's a detailed breakdown:
1929 (Philadelphia – No Mint Mark)
| Grade | Value Range |
|---|---|
| Good to Very Fine | $1.50 – $6 |
| Extremely Fine | $18 – $25 |
| About Uncirculated | $29 – $45 |
| MS-60 to MS-63 | $48 – $100 |
| MS-64 to MS-66 | $165 – $775 |
| MS-67 and above | $11,500+ |
1929-D (Denver)
| Grade | Value Range |
|---|---|
| Good to Very Fine | $1.50 – $8 |
| Extremely Fine | $41 – $50 |
| About Uncirculated | $59 – $75 |
| MS-60 to MS-63 | $78 – $157 |
| MS-64 to MS-66 | $300 – $2,100 |
| MS-67 and above | $18,000+ |
1929-S (San Francisco)
| Grade | Value Range |
|---|---|
| Good to Very Fine | $1.50 – $5 |
| Extremely Fine | $14 – $25 |
| About Uncirculated | $29 – $50 |
| MS-60 to MS-63 | $67 – $119 |
| MS-64 to MS-66 | $200 – $1,500 |
| MS-67 and above | $13,000+ |
Record-Breaking Sales and Exceptional Specimens
Some 1929 Buffalo Nickels have achieved remarkable prices at auction, demonstrating the potential value of high-grade specimens:
- A 1929 MS-67 (Philadelphia) sold for $63,250 in 2005 at a Heritage Auction
- A 1929-S MS-67+ brought $36,000 in 2021 at a Stack's Bowers sale
- A 1929-D MS-66+ realized $15,275 in 2014 at a Heritage Auction
These exceptional sales underscore the premium placed on top-grade examples by serious collectors.
Rare Varieties and Errors: The Hidden Treasures
Errors and varieties can significantly increase a coin's value. Some notable 1929 Buffalo Nickel errors include:
Two Feathers Variety
- Description: One feather in the Indian's headdress appears missing due to die polishing
- Rarity: Uncommon, but not extremely rare
- Value: A 1929-S MS-66 Two Feathers variety sold for $11,750 in 2019
Off-Center Strikes
- Description: Part of the design is missing due to misalignment during striking
- Value Range:
- 10% off-center: $100 – $300
- 20% off-center: $500 – $1,000
- 40% off-center: $2,000 – $3,500
Wrong Planchet Errors
- Description: Buffalo Nickel design struck on a planchet intended for another denomination
- Value Range: $500 – $5,000, depending on the combination and condition
Doubled Die Errors
- Description: Doubling of design elements, often most noticeable in the date
- Value Range: $130 – $2,000, with a record sale of $1,998 for a 1929 MS-64 DDO in 2013
Collecting Strategies for 1929 Buffalo Nickels
For those interested in building a collection of 1929 Buffalo Nickels, consider these expert tips:
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Start with circulated examples: More affordable and readily available, allowing you to understand the coin's features and wear patterns.
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Develop grading skills: Invest time in learning to grade coins accurately. Resources like the ANA's grading guides can be invaluable.
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Focus on strike quality: Well-struck coins often have more eye appeal and value. Look for full horn details on the buffalo and sharp feathers on the Indian's headdress.
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Consider certified coins: For higher-grade specimens, buy coins graded by reputable services like PCGS or NGC to ensure authenticity and accurate grading.
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Join numismatic organizations: Groups like the American Numismatic Association offer resources, educational opportunities, and networking with fellow collectors.
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Study die varieties: Familiarize yourself with known varieties for 1929 Buffalo Nickels to potentially identify valuable specimens.
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Be patient and persistent: Building a quality collection takes time. Don't rush to complete your set at the expense of quality.
Preservation Techniques for Your Collection
Proper preservation is crucial to maintaining the value and condition of your 1929 Buffalo Nickels:
- Handle with care: Always hold coins by their edges to avoid leaving fingerprints or causing wear.
- Use appropriate storage: Invest in archival-quality holders or albums designed for long-term coin storage.
- Avoid cleaning: Improper cleaning can damage coins and significantly reduce their value. If cleaning is absolutely necessary, consult a professional.
- Control environmental factors: Store coins in a cool, dry place with stable temperature and humidity to prevent corrosion and toning.
- Regular inspection: Periodically examine your coins for any signs of deterioration or environmental damage.
The Historical and Cultural Significance of 1929 Buffalo Nickels
Beyond their monetary value, 1929 Buffalo Nickels hold immense historical and cultural significance:
- Great Depression Era: These coins were minted at the onset of one of the most challenging economic periods in U.S. history, making them tangible links to this pivotal time.
- Native American Representation: The obverse design, while stylized, brought Native American imagery into everyday American life, sparking discussions about representation and cultural heritage.
- American Wildlife: The buffalo on the reverse celebrated American wildlife and the country's natural heritage at a time when conservation efforts were gaining momentum.
- Artistic Legacy: James Earle Fraser's design is considered one of the most artistic and distinctly American coin designs, influencing later numismatic art.
Conclusion: The Enduring Appeal of the 1929 Buffalo Nickel
The 1929 Buffalo Nickel stands as a testament to American resilience, artistry, and history. While most examples in circulated condition may not make you rich, their value transcends mere monetary worth. Each coin tells a story of the challenging times during which it was minted, the artistic vision of James Earle Fraser, and the enduring spirit of American numismatics.
For collectors, the 1929 Buffalo Nickel offers a range of opportunities – from affordable examples for beginners to rare, high-grade specimens for advanced numismatists. The hunt for varieties and errors adds an element of excitement and discovery to the collecting experience.
Whether you're a seasoned collector or just beginning your numismatic journey, the 1929 Buffalo Nickel invites you to hold a piece of American history in your hands. It's a tangible connection to the past, a work of art in miniature, and a reminder of the rich tapestry of American culture and heritage.
So, the next time you come across a 1929 Buffalo Nickel, take a moment to appreciate its journey through nearly a century of American life. Who knows – you might just be holding a small treasure that bridges the gap between past and present, art and currency, history and numismatics.
