1938 Nickel

1. 1938 Nickel Ebay
2. Jefferson Nickel 1938 To 1961
3. 1938 Nickel No Mint Mark
4. 1938 Nickel Silver Content

1938 Jefferson Nickel Beginning in 1938, the US Mint decided to pursue an altogether new design of their now popular 5-cent piece. The Jefferson Nickel was the next coin produced, and is one that is still being produced today. How Much Jefferson Nickels are Worth: Jefferson Nickel Values & Coin Price Chart For Sale 4383 Auctions 3 Wishlist 16 Collection 4567 Pre-War Composition (1938-2003).

• Type: Buffalo Nickel Year: 1938 Mint Mark: D Face Value: 0.05 USD Total Produced: 7,020,000 Silver Content: 0% Numismatic Value: $6.5 to $44.00 Value: As a rough estimate of this coins value you can assume this coin in average condition will be valued at somewhere around $6.5, while one in certified mint state (MS+) condition could bring as much as $44 at auction.
• From 1938 until 2004, the copper-nickel coin's obverse featured a profile depiction of founding father and third U.S. President Thomas Jefferson by artist Felix Schlag; the obverse design used in 2005 was also in profile, though by Joe Fitzgerald. Since 2006 Jefferson's portrayal, newly designed by Jamie Franki, faces forward.
• Buffalo Nickel (1913-1938) The US Mint was founded in the late 1700s and has ever since been producing the coinage of the United States, as well as the coinage of many other countries from around the world. When it first got its start, the US Mint was a primitive beast that mostly relied on coin blanks produced by Great Britain.

Coin Values Moving with Precious Metals: Up-Dated 2/8/2021: Gold $1813 Silver $26.90

Minted 1913 to 1938; buffalo nickel value is found by determining date mintmark condition. A heavily worn coin with a readable date is worth well above face value. A very popular series with collectors, each coin is evaluated closely to identify its full potential. Follow the step by step process below and find where your coin is listed on the value chart.

Steps Leading to Value:

• Step 1: Date and Mintmark Combination - Identify date and locate mintmarks to find listing on the value chart.
• Step 2: Grading Condition - Using Video, Images, and Descriptions judge the condition and determine grade.
• Step 3: Special Qualities - Varieties are important to collectors, compare your coin to images to recognize the important qualities to these old buffalo nickels.

The value table shows the importance of the key elements to identify.

The above are wholesale coin values. Computed from dealer's price lists with various mark-up factors figured in. They reflect closely the value you would expect to receive when selling.

Variations in value do occur subject to subtle grading points, collector demands and dealer needs.

Step 1: Date and Mintmark Combination is Identified

Three different mints struck Buffalo nickels throughout the span of the series; 1913 to 1938. In most years all three mints produced nickels. The key is to identify both the date and mint of each coin. Mintmarks on the Denver and San Francisco issues identify the mint. Philadelphia did not place a mintmark on their production.

Collectors typically assemble sets of Buffalo nickels including each mint variety of each year. Availability and scarcity of a year and mintmark combination drives values above minimum base value.

'S' Mintmark on Reverse: San Francisco Mint Struck the Coin

Low mintage numbers of San Francisco Buffalo nickels place most dates as the scarce issue for the year. A total of 118 million were struck with all years combined, lowest of the mints. Many of the key and high value nickels are the San Francisco coins.

San Francisco mint placed a 'S' mintmark on the reverse just under Five Cents. A date with all numerals clearly showing plus the 'S' mintmark is a premium value nickel.

'D' Mintmark on Reverse: Denver Mint Struck the Coin

The Denver Mint in Colorado also contributed to the numbers of Buffalo nickels minted. Striking just over 225 million coins, Denver issues are another exciting find. Early year examples 1913 to 1926 are all high premium coins.

Denver placed a 'D' mintmark on the reverse to identify its production. A surprising premium coin is the last year of the Buffalo nickel 1938, all were minted at Denver. Last of series plus Denver only adds to this coin's popularity and demand from collectors.

No Mintmark on Reverse: Philadelphia Mint Struck the Coin

Leading in numbers of Buffalo nickels struck is the Philadelphia mint. Throughout the years the main mint placed over 900 million nickels into circulation. Most of the old nickels found today are the Philadelphia issue. Many collectors find these coins appealing. Affordable in higher condition, a date run is a popular collection, creating a steady demand for all Buffalo nickels.

Looking on the reverse, just under Five Cents; if without a mintmark, the coin was struck at Philadelphia. The Philadelphia mint did not place mintmarks on Buffalo nickels.

Step 2: Grading Condition of Buffalo Nickels

Coin collecting remains a popular hobby today. A collection of Buffalo nickels presents an engaging pursuit for both young and advanced collectors. Your coins have the potential to add to a collection.

Condition Narrows Value Range

Judging condition directly links to how much your coin is worth. Rare dates and mintmark combinations are a start. Grading narrows into a close value range.

Using a single light source and magnification, first inspect for a clear date. The date area is high in relief on Buffalo nickels and quickly wears. A bold date showing places your coin in the upper grade ranges. Tilting the coin under the light at different angles helps find subtle details. Compare to the grading images, finding the grade closest to the condition of your coin.

Mint State Grade: Buffalo Nickel

Obverse: Features Identifying Mint State Grade: A strong demand is found in old nickels meeting the Mint State grade standards. No wear to the surface is the defining factor. A few points on the coin are checked to confirm this top condition.

Just under the Indian's eye his cheek is one of the high points to design. Any wear shows as a color change to the metal and a smoothing of texture. Luster imparted during minting is a fine grain surface easily removed when worn. Judge the surface of the cheek to match surrounding areas.

View the hair along the parting line from his forehead to bow holding the feathers. High and low areas representing lines of hair remain without any smoothing. Expanding upward and below the part line all surfaces are similar in texture.

Reverse: Features Identifying Mint State Grade: High areas of the buffalo's fur are inspected to detect any wear.

Along the upper shoulder where the fur meets the back remains with a luster indicating a mint state coin.

In the hip area, any wear causes a flattening of the profile and smoothness to the metal.

Look close at the lower edge of the ground, just above 'Five Cents'. The ground surface and a defining lower line remains without flattening.

Extremely Fine Grade: Buffalo Nickel

Obverse: Features Identifying Extremely Fine Grade: A bold date, fully raised is a defining feature of the Extremely Fine grade.

All digits of the date are clear and well raised. Last digit of date is fully separated from the trailing end of the tie holding the braid of hair.

A small area of flatness is confined to just under the eye. A contour remains with no flat area connecting with the hair left of the eye.

Strands of hair remain bold throughout, blending with the feather is minimal.

Reverse: Features Identifying Extremely Fine Grade: Overall most of the fur details remain. Light wear has flattened only the upper areas of fur.

A distinct line remains separating the buffalo's back with the line of fur along the upper leg to the upper back.

Contour remains on the hip with a noticeable raise area defined. Flatness is limited to the forward area of leg.

The majority of the buffalo's horn is visible. On well struck examples the horn is complete with the tip well defined. Helping define the grade is areas of flatness are small and disconnected.

Fine Grade: Buffalo Nickel

Obverse: Features Identifying the Fine Grade: Heavy wear has begun to create large areas of flatness to the surface, placing the coin in Fine grade.

First to judge is the date. Although worn to a shallow profile, all digits must show. Each number is complete. The 'one' is often very weak at the bottom, but is separate from the 'nine'.

The long feather at the back of the head is only just beginning to merge with the Indian's hair. A line of separation is evident but faint.

Letters of 'Liberty' are faint. The majority of the tops of the letters are very weak and beginning to touch the rim. A complete separation indicates a strong Fine grade.

Reverse: Features Identifying the Fine Grade: Evidence of a horn remaining helps identify the Fine grade. The upper half of the horn is missing, however, a strong base to the horn is visible.

A defining line remains indicating the fur from the back of the buffalo.

Flattened areas of the head, shoulder, stomach, and hip are evident but no areas are connecting. A wide space remains identifying each design feature.

Good Grade: Buffalo Nickel

Obverse: Features Identifying the Good Grade: A date is readable but very faint. Defining the grade is the first digits '19' are readable. The '19' are merging with each other but enough remains to identify. Last two digits of date are better defined. A small raised area of all digits is always visible.

Hair detail is missing throughout the center portion above the braid. Flatness extends upward to the part in the hair.

'Liberty' is readable but fully connected with the rim. Often upper part of letters are very faint to missing.

Reverse: Features Identifying the Good Grade: A once fully profiled buffalo is now flat.

The buffalo's head is missing the majority of his horn; a small base is sometimes seen. All fur detail to the head is one flat area.

A small connection of the buffalo's head to the rim is noted.

Only a slight definition of contour remains separating head, shoulder, stomach, and hip. Wide areas of flatness are now larger than contoured areas. Overall a buffalo nickel in Good grade remains with a bold outline of both the Indian and buffalo.

How to Video: Grading Buffalo Nickels

Today, dealers and collectors are searching to find, and have the funds to buy well preserved coins. Your buffalo nickel value increases dramatically the better condition of your coin. A step by step video highlights the elements to the grades.

Step 3: Special Qualities Enhancing Value

The beginning of the Buffalo nickel series saw the year 1913 struck with two different reverse varieties.

First variety: 1913 Type I portrays the buffalo standing on a mounded surface. Lettering of 'Five Cents' is placed bold in the design across the mound. This raised lettering was determined unsatisfactory, quick to wear and loose the statement of denomination.

Second variety: 1913 to 1938 Type II A modification to the design recessed the lettering of 'Five Cents' within the mound below the buffalo. A distinct change protecting both the denomination and mintmark. This Type II reverse design continued until the end of the series in 1938. Both Type I and Type II nickels were minted at all three mints, Philadelphia, Denver, and San Francisco and valued individually.

Designer's Initial

James Earle Fraser designed both the Indian obverse and Buffalo reverse. His initial 'F' is found under the date of all Buffalo nickels.

Below Collector Quality

Discoloration has taken over the 'look' of this nickel. Unfortunately, an abrasive was used to remove some of the color to brighten the surface. The resulting unnatural appearance has lowered value. A collector passes on these damaged coins. Damage to the surface and cleaning has removed collectability.

Detecting a Faded Date Buffalo Nickel

Buffalo nickels are a high relief design. Most elements sit well above the field of the coin, including the date. The shoulder of the Indian is raised and date is on top, placing it as one of the highest areas on the surface. Closest protection to the date is the rim below and knot in hair braid above. Many surviving nickels have partial dates. The '19' of the date often wears away first leaving just faint impressions of the last two digits.

Using a single, bright light and adjusting the angle of the coin to the light helps identify a faint digit or two. Magnification is almost a must to use. Many times, the decade digit is just visible, a difference in the '1' '2' '3' is recognizable. A faint year digit is usually the difficult one to see. Slowly tilt the angle to the light to bring out subtle detail. If identity of date is uncertain the coin is falling below the Good grade and value.

References

US Mint. 1938 US Mint Annual Report https://nnp.wustl.edu/library/book/514142
US Mint. Catalogue of Coins of the United States https://nnp.wustl.edu/library/book/554591

Coin Values CoinStudy Articles

Date by Date
In Depth Buffalo Nickel Value
1913 to 1938

Buffalo Nickels are very popular. The price of lower grade coins makes it easy for younger collectors to start and enjoy collecting the series.

They are attractive in their design and price, giving them a value boost. Return and keep pace with your rising buffalo nickel value.

A step by step method is used to discover old coin values. Beginning with identifying important dates and mintmarks. Next comparing your coin to images to judge and determine its condition and recognize its 'grade'. Value charts narrow how much coins are worth.

The index page helps identify the Shield, Liberty, Buffalo, Jefferson and Three Cent Nickels. Discover the value of your old nickels by matching your coins to the grading images and value charts.

Visit the in-depth Buffalo nickel grading video, combined with enlarged images and detailed descriptions describing the differences between grades. Dates and mintmarks are only part of old nickel value. Follow the steps to grading Buffalo nickels and it leads to how much your coins are worth… accurately.

Videos, close-up images and descriptions, give insight into the details to accurately grade the condition of your old nickels. Individual series covered: Shield, Liberty, Buffalo, and Jefferson nickels. Judge carefully to find the true potential value.

Do you have other denominations?

A step by step method combined with the coin value online guide identifies how to value a coin collection. Discover how much your box of old coins is worth.

Selling coins for the highest price is achieved with planning. Research and organize well, value your coins accurately, and then finding and selling to the right buyer equals excellent results.

★Coin Values Discovery finds Buffalo Nickel Value and...

All old US coin values. Follow an image index to identify all US coin series, from Cents to Gold. Value charts, grading images and a step by step procedure uncovers how much your box of old coins is worth.

1938 Nickel Ebay

The Buffalo nickel was the United States five cent coin minted from 1913 to 1938. Its name comes from the buffalo (i.e. American bison) pictured on the reverse design.

Buffalo nickels are sometimes known as Indian Head nickels due to the composite portrait of an American Indian chief found on the coin's obverse. This iconic design also appears on modern gold bullion coins called American Gold Buffalos. The Gold Buffalo has been issued by the U.S. Mint each year since 2006.

American Gold Buffalo coin, the first .9999 fine gold coin issued by the U.S. Mint annually

Thanks to their recognizable design, Gold Buffalo coins remain popular with both collectors and investors. This is no doubt inspired by the history and symbolism of the Buffalo nickel. Meanwhile, the much more affordable five-cent nickels are among the most avidly collected U.S. coins.

A Note About Valuable Coins

The most valuable coins in a given series are the key dates and varieties. These are the most challenging coins to obtain regardless of their grade.

A 'key date' is usually a coin with a low mintage. Less of them were made in a particular year. This is why collectors will pay more for key date coins.

Varieties are subsets of a given year's issuance of a coin. Something special or out-of-place, such as an error, makes a variety stand out from the rest of the coins produced in that year.

Much like key dates, varieties will have lower production numbers than their common counterparts.

What follows is a list of those pieces for the Buffalo nickel series and what they're worth in well-circulated condition.

Current Prices for Buffalo Nickel Key Dates, Semi-Keys, and Varieties (Chart)

Buffalo nickels that are not included on the list above are more common. They are worth much less in circulated grades.

Circulated Buffalo nickels. Image: CC-BY-SA-4.0 via Wikimedia Commons

Other Buffalo Nickel Values (Chart)

Here's what the more common Buffalo nickels are worth in well-worn grades.

Proof Buffalo Nickel Values (Chart)

Proof coins are made specifically for collectors. They exhibit sharper details, an eye-catching finish, and are made in limited quantities.

The United States Mint made a handful of Buffalo nickels in proof before a 20-year hiatus on producing these specially struck coins.

By the time the U.S. Mint resumed making proof coins in 1936, the Buffalo nickel series was already winding down. In all, there are only seven different proof issues among all Buffalo nickels.

Here's a look at the different proof Buffalo nickels and what they're worth in an average grade of Proof-63:

All values listed above are for coins in typical condition that are not cleaned, damaged, or otherwise impaired. Pieces that are cleaned or otherwise damaged are worth less than the values listed above.

Buffalo Nickel Series Highlights

Buffalo nickels were struck from 1913 through 1938. They are among the most popular 20th-century United States coins around.

The coin depicts a Native American chief on the obverse and an American bison (or 'buffalo') on the reverse. This five-cent coin is beloved for its classic Old West imagery.

1913 Type I (Mound) Buffalo nickel. Image: USA CoinBook

Many older numismatists can still recall when Buffaloes made regular appearances in circulation. These beautiful nickels are widely collected by hobbyists of all ages.

In addition to its rugged design by James Earle Fraser, one of the many reasons the Buffalo nickel series has enjoyed timeless appeal is its numerous key dates, semi-keys, and varieties.

Buffalo nickels offer collectors limitless opportunities for numismatic challenges both great and small. Hobbyists of all financial means can assemble a nice set of these classic coins.

Most Buffalo nickels are quite common, and thus they are relatively affordable. Yet there are several rarer pieces that are very valuable. But how much is a Buffalo nickel worth?

Buffalo nickels vary widely in price, from as little as 20 or 30 cents for pieces on which the date has been completely obliterated through heavy wear to thousands of dollars for rarities in Gem Uncirculated condition.

Tips for Collecting Buffalo Nickels

The Buffalo nickel series is expansive to say the least. It encompasses 71 regular-issue nickels along with major varieties and seven proofs.

Jefferson Nickel 1938 To 1961

In circulated condition, only a handful of Buffalo nickels are truly scarce and exorbitantly expensive.

Conversely, the majority of dates are quite pricey in uncirculated condition, particularly in grades of MS-64 or MS-65 or better.

There are many ways that one can build a nice collection of Buffalo nickels.

You can surely assemble an entire date-and-mintmark set of Buffalo nickels. Unfortunately, this is often cost prohibitive for many hobbyists, even if they’re pursuing “just” the circulated pieces.

Let’s examine a few affordable alternatives to building an entire set of Buffalo nickels:

• Build a short set. Many collectors narrow down their Buffalo nickel sets to only the most common dates. This includes coins struck between 1934 through 1938.
  This significantly reduces the number of coins necessary to complete a set. Oftentimes those who pursue this short set will prefer quality over quantity. That means only going after higher-grade examples.
  

• Assemble a year set. A collector may seek one example from each year, regardless of mintmark. This is in lieu of chasing after each date-and-mintmark combination.
  You can build a set of Buffalo nickels spanning the entire series run without breaking the bank. A year set can help a collector avoid virtually all of the expensive semi-key and key dates.
  

• Focus on only regular-issue business strike coins (not varieties). Finishing a more challenging set complete with varieties and proofs gets very costly. Collectors may find a happy medium by building a regular-issue run of business-strikes.
  This would still be a pretty expensive endeavor! But such a set lacks the super-expensive varieties such as the 1916 doubled die and 1937 3-legged nickels.
  

Most Buffalo nickels only really become collectible when the date is at least partially visible. Basically that translates into an example grading About Good-3 to Good-4.

Many hobbyists prefer that the bison exhibits a full horn. This is usually seen at a grade of Very Fine-20 or higher.

Regardless of the coin's grade, the nicer the piece, the stronger chance it improves in value down the line.

Besides, high-quality coins are simply more desirable than subpar pieces. Numismatists always find more satisfaction with coins boasting high-quality surfaces and overall excellent eye appeal.

Like the modern Gold Buffalo, the Indian Head nickel has inspired many fantastic and artistic items on today's bullion market. In addition to a one-time commemorative Silver Buffalo coin issued by the U.S. Mint in 2001, private refineries across the United States regularly make Silver Buffalo rounds.

Several talented medallic artists (sculptors and engravers) have even taken their inspiration from the American Buffalo theme even further. Some examples are The Hunter silver round and the Silver Buffalo round (antique finish), exclusively available for purchase at Gainesville Coins! See below:

1938 Nickel No Mint Mark

Joshua McMorrow-Hernandez is a journalist, editor, and blogger who has won multiple awards from the Numismatic Literary Guild. He has also authored numerous books, including works profiling the history of the United States Mint and United States coinage.

1938 Nickel Silver Content

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