As a seasoned US coin collector with over 30 years of experience, I've had the pleasure of examining countless Buffalo Nickels. Among these, the 1936 issue holds a special place in numismatic history. Let's embark on a journey to uncover the true worth of this iconic coin, exploring its history, varieties, and factors that influence its value.
A Brief History of the Buffalo Nickel
The Buffalo Nickel, designed by James Earle Fraser, graced American pockets from 1913 to 1938. Its distinctly American imagery captured the nation's spirit:
- Obverse: A dignified profile of a Native American
- Reverse: An American bison, commonly known as a buffalo
The 1936 issue came during a pivotal time in American history. The country was in the throes of recovery from the Great Depression, and these nickels serve as tangible reminders of that era.
1936 Buffalo Nickel Varieties and Mintage
In 1936, Buffalo Nickels were struck at three different mints:
| Mint Location | Mint Mark | Mintage |
|---|---|---|
| Philadelphia | None | 118,997,000 |
| Denver | D | 24,814,000 |
| San Francisco | S | 14,930,000 |
Additionally, a small number of proof coins were produced:
| Proof Coins | Mintage |
|---|---|
| Philadelphia | 4,420 |
Factors Influencing the Value of a 1936 Buffalo Nickel
Several key factors determine a 1936 Buffalo Nickel's worth:
- Mint mark
- Condition (grade)
- Presence of errors or varieties
- Overall rarity
- Market demand
Standard 1936 Buffalo Nickel Values
Based on my experience and current market data, here's a comprehensive guide to the value of regular strike 1936 Buffalo Nickels:
| Condition | Philadelphia | Denver | San Francisco |
|---|---|---|---|
| Good (G-4) | $1.51 | $1.75 | $2.00 |
| Fine (F-12) | $2.00 | $2.25 | $3.00 |
| Very Fine (VF-20) | $3.50 | $4.00 | $5.00 |
| Extremely Fine (EF-40) | $7.00 | $8.00 | $10.00 |
| About Uncirculated (AU-50) | $14.00 | $16.00 | $20.00 |
| MS-60 | $29.00 | $35.00 | $40.00 |
| MS-63 | $59.00 | $65.00 | $75.00 |
| MS-65 | $110.00 | $125.00 | $150.00 |
| MS-66 | $225.00 | $275.00 | $350.00 |
| MS-67 | $800.00 | $1,000.00 | $1,250.00 |
Note: These values are averages and can fluctuate based on market conditions.
The Premium 1936 Proof Buffalo Nickel
Proof coins from 1936 command significantly higher prices:
| Grade | Value Range |
|---|---|
| PR-60 | $600 – $700 |
| PR-63 | $900 – $1,025 |
| PR-65 | $1,500 – $1,800 |
| PR-66 | $2,250 – $2,500 |
| PR-67 | $3,500 – $4,000 |
| PR-68 | $6,000 – $8,000 |
The most valuable 1936 proof nickel on record sold for an astounding $40,250 at a Heritage Auctions sale in 2008. This coin was graded PR-68 by PCGS and is considered one of the finest known examples.
Valuable 1936 Buffalo Nickel Errors and Varieties
Errors can dramatically increase a coin's value. Here are some notable 1936 Buffalo Nickel errors:
1936-D 3½ Legs Error
This famous error occurs when the buffalo's front leg is partially missing due to overzealous die polishing. Values range from:
- Circulated (G-4 to AU-58): $350 to $7,500
- Uncirculated (MS-60 to MS-65): $10,000 to $20,700
In 2015, a PCGS MS-65 example sold for an impressive $51,750 at auction.
Re-punched Mint Mark Errors
| Error Type | G-4 | F-12 | VF-20 | EF-40 | AU-50 | MS-60 | MS-63 |
|---|---|---|---|---|---|---|---|
| 1936-D/D | $100 | $150 | $225 | $350 | $500 | $800 | $1,440 |
| 1936-D/S | $280 | $400 | $600 | $900 | $1,200 | $1,800 | $2,640 |
| 1936-S/S | $25 | $50 | $100 | $200 | $350 | $700 | $1,300 |
Doubled Die Errors
Doubled die errors can range from $100 for minor doubling in circulated condition to $1,500 or more for strong doubling in high grades. The most valuable doubled die error from 1936 is the 1936 Doubled Die Obverse, which can fetch up to $3,000 in MS-63 condition.
How to Grade Your 1936 Buffalo Nickel
Grading is crucial in determining a coin's value. Here's a detailed grading scale:
- Good (G-4): Major details visible but worn. Horn and tail barely visible on the buffalo.
- Fine (F-12): All major features clear, but lacking finer details. Complete horn visible.
- Very Fine (VF-20): Most details sharp, some wear on high points. Full buffalo detail.
- Extremely Fine (EF-40): Light wear on high points, all details sharp. Some luster present.
- About Uncirculated (AU-50): Slight wear, at least half of original luster present.
- Mint State (MS-60 to MS-70): No wear, ranging from many marks (MS-60) to perfect (MS-70).
Advanced Tips for Identifying Valuable 1936 Buffalo Nickels
- Use a 10x loupe to examine the mint mark area for re-punching.
- Check for doubling on the date, LIBERTY, and major design elements.
- Examine the buffalo's legs carefully, especially on Denver-minted coins.
- Look for die cracks or cuds, which can add value to the coin.
- Pay attention to the coin's luster and eye appeal, as these factors can significantly impact value.
Preserving Your 1936 Buffalo Nickel
To maintain your coin's value:
- Handle coins by their edges using cotton gloves.
- Store in non-PVC, archival-quality holders or albums.
- Keep in a cool, dry environment with stable humidity.
- Never clean or polish your coins, as this can severely reduce their value.
- Consider using inert gas capsules for long-term storage of valuable specimens.
Where to Sell Your 1936 Buffalo Nickel
If you believe you have a valuable 1936 Buffalo Nickel, consider these options:
- Reputable coin dealers (check for ANA membership)
- Online auction sites specializing in coins (e.g., Heritage Auctions, Stack's Bowers)
- Major auction houses for extremely rare or valuable specimens
- Coin shows and conventions (e.g., ANA World's Fair of Money)
Always get multiple appraisals before selling, and consider having valuable coins certified by a professional grading service like PCGS or NGC.
The Enduring Legacy of the 1936 Buffalo Nickel
The 1936 Buffalo Nickel stands as a testament to American resilience and artistry. As a collector, I've witnessed firsthand the enduring appeal of these coins. Their value goes beyond mere monetary worth; they are tangible links to our nation's past.
Whether you're a seasoned numismatist or a curious beginner, the 1936 Buffalo Nickel offers a wealth of opportunities. From the thrill of discovering a rare error to the satisfaction of completing a high-grade set, these coins continue to captivate collectors decades after their minting.
Remember, every 1936 Buffalo Nickel tells a unique story. As you examine your coins or consider starting a collection, take a moment to appreciate the craftsmanship and history held within each piece. Who knows? You might just be holding a small fortune in your hands.
