The 1931-S Buffalo Nickel is one of the most valuable U.S. coins for collectors and investors. Minted in San Francisco during the Great Depression, this nickel is rare and highly sought after due to its low production numbers and unique design. In this guide, we’ll explore what makes the 1931-S Buffalo Nickel so valuable and examine its rarity, historical significance, and current market value.
Historical Background of the 1931-S Buffalo Nickel
The 1931-S Buffalo Nickel was minted during the Great Depression, a period when the U.S. Mint faced financial constraints and produced fewer coins. In 1931, the San Francisco Mint struck only 1.2 million of these nickels, making it one of the lowest-mintage Buffalo Nickels and a prized coin for collectors.
Initially, the Mint struck just 194,000 Buffalo Nickels in early 1931. Later in the year, an additional batch was minted, increasing the total to 1.2 million. This low production number has made the 1931-S Buffalo Nickel a valuable piece of numismatic history and a desirable addition to any collection.
Key Features of the 1931-S Buffalo Nickel
The 1931-S Buffalo Nickel stands out with its low mintage, historical context, and unique design by James Earle Fraser. Here are its main features:
| Feature | Details |
|---|---|
| Coin Type | Buffalo Nickel |
| Year of Issue | 1931 |
| Mintmark | S (San Francisco) |
| Mintage | 1,200,000 |
| Alloy | 75% Copper, 25% Nickel |
| Weight | 5.0 g |
| Diameter | 21.2 mm |
| Edge | Plain |
| Designer | James Earle Fraser |
| Market Value Range | $5,000 – $38,000 (depending on grade) |
| Top Population | PCGS MS67, NGC MS67 |
Design of the 1931-S Buffalo Nickel
The design of the 1931-S Buffalo Nickel is iconic in American coin history. The obverse features a Native American chief, a composite image of three Native American leaders: Chief Iron Tail of the Sioux, Big Tree of the Kiowa, and Two Moons of the Cheyenne. This design by artist James Earle Fraser serves as a tribute to Native American heritage and remains popular among collectors.
On the reverse side, the coin displays a buffalo standing on a patch of land, modeled after “Black Diamond,” a buffalo from the Central Park Zoo in New York. Notably, this coin does not include the national motto “In God We Trust,” which makes it unique among U.S. coins.
Market Value and Noteworthy Specimens
The 1931-S Buffalo Nickel has consistently maintained high demand and value, particularly in top-grade condition. The market value for well-preserved examples in grades like MS67 can reach tens of thousands of dollars. Here are some noteworthy auction results for top-quality specimens:
- PCGS MS67 Example: Sold for $28,200 in 2015.
- NGC MS67 Example: Sold for $12,500 in 2022.
- PCGS MS67 CAC: Sold for $38,187.50 in 2013.
Coins with strong toning or the “CAC” (Certified Acceptance Corporation) sticker, which signifies quality, often command even higher premiums at auction.
Why Is the 1931-S Buffalo Nickel So Valuable?
Several factors contribute to the high value of the 1931-S Buffalo Nickel:
- Low Mintage: Only 1.2 million of these nickels were produced, making them rare compared to most other Buffalo Nickels.
- Historical Significance: The coin was minted during the Great Depression, adding to its historical value.
- High Demand: Due to its rarity, design, and connection to American history, the coin is highly valued by collectors.
- Condition: Coins in high grades, especially MS67 or higher, are extremely valuable and highly sought after in the market.
Conclusion
The 1931-S Buffalo Nickel is one of the most valuable and iconic coins in American numismatics. Its low mintage, significant history, and demand among collectors make it a key piece in any collection. Whether you are a collector or an investor, owning a 1931-S Buffalo Nickel can be both rewarding and profitable due to its scarcity and unique design. As one of the rarest Buffalo Nickels, this coin is expected to maintain its value in the years to come.
FAQ’s
Why is the 1931-S Buffalo Nickel so valuable?
The 1931-S Buffalo Nickel is valuable due to its low mintage (only 1.2 million were made), historical significance from the Great Depression era, and its detailed design. High-grade examples are rare and can sell for thousands of dollars.
What makes the design of the 1931-S Buffalo Nickel special?
The 1931-S Buffalo Nickel’s design, created by artist James Earle Fraser, features a Native American chief on the front and a buffalo on the back. This coin is unique because it honors Native American heritage and does not display the motto “In God We Trust.”
How can I determine the value of my 1931-S Buffalo Nickel?
The value of a 1931-S Buffalo Nickel depends on its condition and grade. Coins in excellent condition, graded as MS67 or higher, are the most valuable. To determine its exact worth, consider having it appraised by a professional coin grading service.