The 1920-D Buffalo Nickel, minted in Denver, stands as a testament to early 20th-century American coinage. Its unique design and historical significance have made it a coveted piece among numismatists. In 2008, a pristine example of this coin fetched an impressive $138,000 at auction, highlighting its value in the collectors’ market.
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Historical Context and Design
The Buffalo Nickel, produced from 1913 to 1938, was designed by sculptor James Earle Fraser. The obverse features a composite Native American profile, while the reverse showcases an American bison, symbolizing the nation’s rich heritage. The 1920-D variant, with a mintage of 9,418,000, is particularly notable for its scarcity in higher grades.
Mintage and Rarity
Despite a substantial mintage, the 1920-D Buffalo Nickel is scarce in uncirculated conditions. Many coins from this era suffered from weak strikes and extensive circulation, making high-grade specimens rare. The Professional Coin Grading Service (PCGS) notes that in gem condition, the 1920-D is rarer than many other Denver-minted issues from the same period.
Value Assessment
The value of a 1920-D Buffalo Nickel varies significantly based on its condition. Here’s a breakdown of approximate values:
| Grade | Approximate Value |
|---|---|
| Good (G-4) | $9.10 |
| Fine (F-12) | $29 |
| Extremely Fine (EF-40) | $124 |
| Uncirculated (MS-60) | $494 |
| Mint State (MS-65) | $1,593 |
These values are subject to market fluctuations and the coin’s eye appeal. Notably, in 2008, an MS-67 graded 1920-D Buffalo Nickel achieved a record price of $138,000 at auction.
Current Circulation Status
Given its age and collectible nature, the 1920-D Buffalo Nickel is unlikely to be found in general circulation today. Most surviving specimens reside in private collections or are traded among numismatists. However, occasional discoveries in old estates or collections can still occur, offering exciting opportunities for collectors.
Collecting Tips
- Authentication: Due to its value, the 1920-D Buffalo Nickel is often counterfeited. Ensure authenticity by consulting reputable dealers or third-party grading services.
- Grading: Familiarize yourself with coin grading standards. Key indicators include the clarity of the date, the detail in the Native American’s hair and feathers, and the definition of the bison’s horn and tail.
- Preservation: Store coins in a controlled environment to prevent tarnish and damage. Use appropriate holders and avoid handling the coin’s surface directly.
The 1920-D Buffalo Nickel remains a significant piece of American numismatic history. Its rarity, especially in higher grades, combined with its iconic design, continues to captivate collectors and enthusiasts alike.
FAQs
Why is the 1920-D Buffalo Nickel so valuable?
Its value stems from its scarcity in high grades, historical significance, and collector demand.
How can I identify a 1920-D Buffalo Nickel?
Look for the date “1920” on the obverse and a “D” mint mark below the words “FIVE CENTS” on the reverse.
What factors affect the value of this coin?
Condition, rarity, demand, and historical significance are primary factors influencing its value.
