Every coin carries a little piece of history, but once in a while, a coin comes along with a story so unusual it captures the imagination of collectors everywhere. The 1937 Buffalo Nickel is one of those coins. At first glance, it looks like an ordinary piece of change, but a minting blunder turned it into one of the most sought-after treasures in American numismatics. Known as the “Three-Legged Buffalo Nickel,” this mistake has transformed an everyday nickel into a coin worth hundreds of thousands—sometimes even millions—of dollars.
The Buffalo Nickel: A Slice of Americana
The Buffalo Nickel, officially called the Indian Head Nickel, jingled in pockets across America from 1913 to 1938. Designed by sculptor James Earle Fraser, it beautifully reflects America’s spirit at the time. The front features the proud profile of a Native American, while the back shows a rugged American bison—often called a buffalo.
It’s no wonder collectors admire this coin. It’s part artwork, part history lesson. But what happened in 1937 at the Denver Mint turned one particular batch into a legend.
The Three-Legged Buffalo Mistake
In 1937, mint workers at Denver were busy repairing coin dies—the steel stamps used to strike designs onto coins. During one of these clean-ups, they accidentally over-polished the die. The mistake? They rubbed away part of the buffalo’s front right leg.
The result: a bison that looked like it was standing on only three legs. At the time, hardly anyone noticed. These flawed nickels were tossed into circulation by the thousands. But once collectors caught on, their rarity and charm skyrocketed.
How to Spot One
Think you might have one hiding in a jar of old coins? Here’s what to look for:
- Mint mark: Look for the letter “D” under the buffalo on the back—this shows it came from the Denver Mint.
- Count the legs: A normal buffalo has four clear legs, but this one is missing the front right leg.
- Look closely at the body: On the error coin, the buffalo’s midsection looks a bit uneven and incomplete.
Value and Rarity
The value of a 1937-D Three-Legged Buffalo Nickel depends heavily on its condition:
- Very Fine (VF): Around $685—already impressive for a nickel.
- Mint State 67 (MS67): A jaw-dropping $350,000 or more.
Experts estimate that only about 10,000 of these coins were ever released. That scarcity explains why collectors today treat them like gold.
Why It Matters
Coin collectors love a good story, and this one has it all—beauty, history, and a quirky mistake. The Three-Legged Buffalo is considered one of the most famous error coins in U.S. history. Its limited number and the difficulty of finding one in pristine condition only add to its appeal.
Other Buffalo Nickel Oddities
The 1937-D isn’t alone. A few other famous Buffalo Nickel errors include:
- 1918/7-D Overdate Nickel: The “8” was stamped over a “7,” leaving a doubled date.
- 1916 Doubled Die Nickel: Both the date and letters appear doubled, a striking and rare flaw.
Collectors’ Tips
If you’re thinking about diving into the world of rare coins, keep these in mind:
- Get it authenticated: Always have a professional verify your coin.
- Protect it: Store it safely away from dust, scratches, and moisture.
- Stay informed: Keep an eye on coin shows, auctions, and market trends to know when values rise.
A Mistake That Made History
The 1937-D Three-Legged Buffalo Nickel proves that sometimes the most valuable treasures are born from accidents. What started as a simple slip during polishing became a coin that tells a bigger story—about America’s minting history, about collectors’ passions, and about how even small mistakes can leave a lasting mark. Today, it’s not just a nickel; it’s a symbol of how history and chance can come together in the palm of your hand.