Learn how much is a buffalo nickel worth

By bogotapost July 27, 2020
Photo: Simon on Unsplash

How many times have you received a change to find a buffalo nickel in the mix? It seems like receiving buffalo nickels in your change was something that happened more often years ago. Though, there are still quite a few buffalo nickels in circulation today. You might be surprised by how much is a buffalo nickel worth. How much the nickel is worth depends on many different factors, and we’re going to talk about all of them here. The value of your nickel is far more than five cents, but its worth depends on many different factors.

The age of the buffalo nickel is a key factor of it’s worth

Age is only a number, and it’s not what you think it is when it comes to determining how much is a buffalo nickel worth. You might think that the older the coin, the more it’s worth. It doesn’t work that way in the world of coin collecting. Dates are more important than the age itself. Not all dates are created equal and some of it is because of how many coins were struck during a given year. The fewer the coins produced by the mint means fewer that there are of them in circulation. Scarcity is a big part of a coin’s value, and that’s why the age or date of the coin is so crucial.

The mint mark is more than just a little letter

Where the coin was made can also play a role in how much it’s worth. Coins from particular mints can bring in far more money than others. You tell where the coin was minted by looking for a little letter near the date of the coin. The letter will tell you the location of the mint where the coin was made. Collectors care about mint marks and where coins are produced.

Errors are extremely valuable and are highly sought after

Errors or mistakes in the minting process are very valuable. Some might think that a coin with a mistake on it has no value, but nothing could be further from the truth. A coin with an error can be worth thousands of dollars more than a coin without one. Sometimes wide-scale errors happen, and they aren’t caught until it’s too late. Instead of scraping those errors and starting over, the mint puts them into circulation. Errors are highly sought after, and if you have one, then it’s something you better keep in your collection.

It’s all about the condition of the coin in the end

No matter what year your buffalo nickel is, or it’s the mint mark, or if it has an error, the main factor in its value is its condition. Pristine coins in uncirculated condition are worth the most. A coin that has been in circulation all these years showing plenty of wear and tear won’t be worth as much. Beginning coin collectors tend to gravitate towards coins that have been highly circulated due to their lower costs. As a collector increases their collection, they tend to move towards coins that haven’t been in circulation. The coin’s condition is always the determining factor of how much it’s worth.