Rare 1936-D Buffalo Nickel Worth $20,700 – The Buffalo Nickel, officially known as the Indian Head Nickel, is one of the most iconic coins in American numismatics. Designed by James Earle Fraser, this series features a Native American profile on the obverse and an American bison (commonly mistaken for a buffalo) on the reverse.
Among the many issues in the series, the 1936-D Buffalo Nickel stands out due to its rarity, historical significance, and condition-dependent value. The last recorded sale of this coin took place in 2009, where it achieved an impressive price of $20,700 .
In this article, we’ll delve into the story behind this remarkable coin, its unique characteristics, and why it remains a prized possession for collectors.
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Table of Contents
A Brief History of the Buffalo Nickel Series
Introduced in 1913, the Buffalo Nickel replaced the Liberty Head Nickel and quickly became a symbol of America’s frontier spirit. The design was inspired by real-life figures: the obverse portrait is said to be a composite of three Native American chiefs—Iron Tail, Big Tree, and Two Moons—while the reverse depicts Black Diamond, a bison that lived at the Central Park Zoo in New York City.
The series spanned from 1913 to 1938 and was struck at three mints: Philadelphia (no mint mark), Denver (“D”), and San Francisco (“S”). Over time, certain dates and mint marks have become key rarities, with the 1936-D Buffalo Nickel being among the most sought-after issues.
Why the 1936-D Buffalo Nickel Is Special
1. Low Mintage
One of the primary reasons the 1936-D Buffalo Nickel commands such high prices is its relatively low mintage. Only 4,762,000 examples were produced at the Denver Mint that year, making it one of the scarcer issues in the series. While not the lowest mintage in the Buffalo Nickel lineup, the 1936-D is particularly elusive in high grades.
2. Condition Rarity
Most 1936-D Buffalo Nickels entered circulation and show significant wear. Finding one in pristine, uncirculated condition is exceptionally rare. Coins graded MS65 or higher are considered true gems, with razor-sharp details, full luster, and minimal contact marks. These attributes are what drove the 1936-D Buffalo Nickel to fetch $20,700 at auction in 2009.
3. Eye Appeal
High-grade examples of the 1936-D often exhibit stunning toning, ranging from subtle gold hues to vibrant rainbow colors. Collectors prize these coins not only for their rarity but also for their aesthetic beauty. The combination of original luster and attractive toning makes them stand out even among other Buffalo Nickels.
4. Historical Context
The year 1936 marked the final stretch of the Great Depression, a period when many Americans struggled financially. Despite the economic hardships, the U.S. Mint continued producing coins like the Buffalo Nickel, which served as a reminder of the nation’s resilience and cultural heritage. Owning a 1936-D Buffalo Nickel connects collectors to this pivotal moment in history.
The Last Sale: $20,700 in 2009
In 2009, a 1936-D Buffalo Nickel graded MS66 by PCGS (Professional Coin Grading Service) sold for $20,700 at a major auction. This sale highlighted the enduring demand for high-quality specimens within the series. Several factors contributed to this record-breaking price:
- Certification: The coin was professionally authenticated and encapsulated by PCGS, ensuring its legitimacy and maximizing buyer confidence.
- Grade: Achieving an MS66 grade places the coin in the top tier of surviving examples, as very few 1936-D Buffalo Nickels exist in such pristine condition.
- Market Trends: At the time, there was growing interest in classic U.S. coinage, particularly in key dates and mint marks.
While the 1936-D has not appeared at auction since 2009, its value has likely increased due to rising demand for rare coins and inflation over the past decade.
Factors Influencing Value
Several elements determine the worth of a 1936-D Buffalo Nickel:
1. Grade
As with all collectible coins, condition plays a critical role in valuation. Lower-grade examples (e.g., Fine or Very Fine) may sell for under $50, while gem-quality coins (e.g., MS65 or higher) can command thousands of dollars.
2. Rarity
With fewer than five million pieces minted, the 1936-D is inherently scarce compared to other Buffalo Nickels. Add to that the fact that most were heavily circulated, and you have a recipe for extreme rarity in high grades.
3. Eye Appeal
Coins with original surfaces, vibrant toning, and strong strikes are more desirable to collectors. Even minor imperfections can significantly impact value.
4. Authentication
Counterfeit coins and altered specimens abound in the marketplace. Professional certification by reputable services like PCGS or NGC is essential to confirm authenticity and maximize value.
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Tips for Collectors
If you’re interested in acquiring a 1936-D Buffalo Nickel—or any rare coin—consider the following advice:
- Research Extensively: Study population reports from PCGS and NGC to understand how many examples exist in various grades.
- Prioritize Certification: Always purchase certified coins graded by trusted services like PCGS or NGC.
- Inspect Before Buying: Examine high-resolution images and read detailed descriptions before committing to a purchase.
- Set a Budget: Determine your spending limit to avoid overspending on impulse buys.
- Consult Experts: Seek guidance from trusted dealers or fellow collectors to make informed decisions.
The 1936-D Buffalo Nickel is more than just a piece of currency—it’s a tangible link to America’s rich history and artistic legacy. With its low mintage, condition rarity, and stunning eye appeal, it’s no wonder that this coin achieved a price of $20,700 at auction in 2009. For collectors, owning a 1936-D Buffalo Nickel represents the pinnacle of achievement within the series, offering both financial value and emotional satisfaction.
