The 1937 Buffalo Nickel Proof stands as one of the most desirable coins in American numismatics. Struck during the final year of the Buffalo Nickel series (1913–1938), this proof coin captures the artistry and cultural significance of a design that resonates deeply with collectors. With its limited production and mirror-like finish, the 1937 proof version is a centerpiece for enthusiasts who value rarity and aesthetic appeal.
This guide explores the history, design, rarity, and value of the 1937 Buffalo Nickel Proof, providing insights for collectors seeking to add this exquisite coin to their collections.
Historical Background
The Buffalo Nickel, designed by sculptor James Earle Fraser, was introduced in 1913 as part of an effort to modernize U.S. coinage. Its bold and realistic depiction of a Native American on the obverse and a bison on the reverse symbolized the American frontier and indigenous heritage.
Proof coins, designed specifically for collectors, were produced sporadically during the Buffalo Nickel series, with the 1936 and 1937 proofs being the only examples from the later years. The 1937 proof marked the final year the Buffalo Nickel was minted in proof format before it was replaced by the Jefferson Nickel in 1938.
Design Features
The 1937 Buffalo Nickel Proof retains the iconic design of its circulation counterparts but offers enhanced details and a polished finish:
- Obverse: A composite portrait of three Native American chiefs is featured, with strong, chiseled details and the word “LIBERTY” engraved to the right. The date “1937” is prominently displayed beneath the profile.
- Reverse: The reverse depicts an American bison standing on a raised mound, with the denomination “FIVE CENTS” at the bottom. Above the bison, the words “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” are inscribed.
Unlike business-strike Buffalo Nickels, the proof version is distinguished by its highly polished surfaces and frosted devices, creating a dramatic contrast that enhances the design’s artistry.
Rarity and Mintage
The 1937 Buffalo Nickel Proof had a limited mintage of only 5,769 coins, making it a relatively scarce issue in the Buffalo Nickel series. While it is not the rarest proof coin of the series, its low production figures and the final-year significance make it highly desirable.
Many examples remain in excellent condition due to their collector-oriented nature, but those with cameo contrast or exceptional preservation can command significant premiums.
Value and Collectibility
The value of the 1937 Buffalo Nickel Proof depends on its condition and certification:
- PR63 to PR65: $1,200–$1,800
- PR66 to PR67: $2,000–$3,500
- PR68 and above: Over $7,000
Coins with cameo contrast or toning may fetch even higher prices. Grading by services like PCGS or NGC is essential to ensure authenticity and determine accurate value.
Tips for Collectors
- Focus on Condition: Look for examples with sharp details, clean surfaces, and minimal imperfections. Higher-grade proofs are more valuable and desirable.
- Verify Authenticity: Purchase coins certified by reputable grading services to avoid counterfeit or altered pieces.
- Consider Eye Appeal: Proof coins with attractive toning or frosted devices stand out and often command premiums.
Conclusion
The 1937 Buffalo Nickel Proof is a must-have for any serious collector. As the last proof in a series celebrated for its iconic design, it combines historical significance with artistic beauty. Its limited mintage and enduring appeal make it a sound investment and a treasured addition to any numismatic collection. Whether you’re captivated by its design or drawn to its rarity, the 1937 Buffalo Nickel Proof remains a timeless testament to the artistry of American coinage.
FAQs
1. What makes the 1937 Buffalo Nickel Proof unique?
The 1937 Buffalo Nickel Proof is special as it represents the final proof issue of the Buffalo Nickel series. Its polished surfaces and frosted design elements enhance its appeal to collectors.
2. How much is a 1937 Buffalo Nickel Proof worth?
The value ranges from $1,200 for lower-grade examples to over $7,000 for coins in PR68 condition or higher. Special features like cameo contrast or toning can increase its value.
3. How can I authenticate a 1937 Buffalo Nickel Proof?
To ensure authenticity, purchase coins certified by trusted grading services like PCGS or NGC. These certifications verify the coin’s grade and guarantee it is genuine.