Nickel Values: Which Nickels Are Worth Money?

The Buffalo nickel — also called the Indian Head nickel — was designed by James Earle Fraser and minted from 1913 to 1938. The obverse features a composite portrait of three Native American chiefs, and the reverse shows a bison modeled after Black Diamond, a resident of the New York Central Park Zoo. It is one of the most distinctly American coin designs ever produced and remains a favorite among collectors and non-collectors alike.

Common-date Buffalo nickels in readable condition sell for $0.50 to $5 each. Dates from the late 1920s and 1930s with clear details bring $1 to $10. The design wears quickly — the date sits on a raised area that contacts surfaces first — which is why so many Buffalo nickels have illegible dates. Dateless Buffalo nickels are worth $0.25 to $1 as novelty items. They make decent conversation pieces but carry no numismatic premium.

The key dates are where the money is. The 1918/7-D overdate is one of the most dramatic errors in all of American numismatics. Denver Mint workers accidentally used a 1917-dated die as the base for a 1918 die, creating an overdate visible under magnification. In Good condition, a 1918/7-D sells for $500 to $5,000. In gem Mint State, one brought $350,750 at Heritage Auctions. The 1937-D 3-legged Buffalo is another famous error — a polished die removed one of the bison's legs, creating a three-legged animal. Circulated examples start around $500. In MS-67, one sold for $135,125.

Other key dates include the 1921-S ($50 to $5,000), the 1926-S ($25 to $3,000), and the 1913-S Type 2 ($75 to $1,000). Semi-key dates worth pulling from circulation or junk boxes include the 1913-D Type 2, 1914-D, 1915-S, and 1924-S. If you have pennies from the same era, many follow similar patterns where mint marks and low mintages create substantial premiums over common dates.

Jefferson nickels replaced the Buffalo design in 1938, and the series continues today. The original Felix Schlag design featured a three-quarter view of Monticello on the reverse. In 2004 and 2005, the Mint issued special Westward Journey designs, and in 2006 a new forward-facing portrait of Jefferson debuted. For most dates from 1938 to the present, Jefferson nickels in circulated condition are worth face value — five cents. The series was produced in enormous quantities, and aside from the silver war nickels covered above, most dates carry no premium.

The exceptions matter. The 1939-D had a mintage of just 3.5 million — tiny for a denomination that often exceeded 100 million per year. In Good condition, a 1939-D sells for $5 to $20. In choice uncirculated, prices reach $100 or more. The 1939-S is similarly scarce ($3 to $50). The 1942-D (non-silver composition) was produced in limited numbers before the switch to silver alloy and sells for $3 to $75 depending on grade. The 1950-D is technically a key date, but it was heavily hoarded at the time of issue, so uncirculated examples are more available than the low mintage of 2.6 million would suggest. Still, circulated 1950-D nickels sell for $5 to $10.

We get asked constantly about specific years — 1940, 1947, 1948, 1952, 1964. The honest answer is that most of these are common coins worth $0.10 to $0.50 in circulated grades and $1 to $5 uncirculated. The 1964 nickel is especially popular in online searches, but with over 2.8 billion minted that year, it carries no premium. The exception in any year is the Full Steps variety, where all six steps of Monticello are sharply defined. Full Steps nickels are genuinely scarce for many dates and can bring $10 to $500 depending on the year and grade. If you are checking dime values from the same period, Roosevelt dimes follow a similar pattern where most dates are common but a few varieties stand out.

Error coins turn common nickels into collectibles worth real money. The most famous nickel error is the 1937-D 3-legged Buffalo, covered above, where an over-polished die removed one of the bison's front legs. But errors span every design type and era. The 1943/2 Jefferson nickel shows a clear overdate — the 3 was punched over a 2 — and sells for $50 to $300 depending on grade. Doubled die errors on Jefferson nickels from the 1950s through 1990s exist in various strengths, with strong examples bringing $20 to $200.

Modern errors worth knowing include the 2004-D Wisconsin extra leaf variety on the Peace Medal reverse design, where an extra leaf appears on the ear of corn. Strong examples bring $50 to $300. The 2005 Bison reverse shows a "spear" variety — a die gouge running through the bison — that collectors pay $10 to $50 for in uncirculated condition. Off-center strikes on any nickel carry premiums when the date remains visible. A nickel struck 10% off-center might bring $5 to $10. A dramatic 50% off-center strike with a full date can sell for $50 to $200.

Wrong planchet errors — where a nickel is struck on a cent planchet, dime planchet, or foreign blank — are rare and valuable. These range from $100 to $1,000 or more depending on the planchet and the coin's condition. As with quarter errors, the majority of supposed errors people find turn out to be post-mint damage. Scratches, dings, staining, and wear marks are not mint errors. If you think you have a genuine error nickel, professional authentication from PCGS or NGC is the only way to confirm it and establish market value.