Have you ever wondered if that jar of loose change collecting dust on your dresser might contain a hidden treasure? Well, it just might! Among the countless ordinary coins that pass through our hands daily, there are some extraordinary rarities that could be worth a small fortune.
One such treasure is the 1920-D Buffalo Nickel, a coin that has fetched as much as $138,000 at auction. Yes, you read that right – a single five-cent piece potentially worth more than many people’s annual salary!
While most of us see nickels as merely pocket change, coin collectors and numismatists view them as pieces of American history, art, and potential investments.
The 1920-D Buffalo Nickel stands as a testament to this, with its beautiful design, historical significance, and remarkable scarcity in high-grade conditions.
But what makes this particular nickel so valuable, and could you possibly have one hiding in your coin jar? Let’s dive into the fascinating world of this rare coin and find out.
What Makes the 1920-D Buffalo Nickel So Special?
The 1920-D Buffalo Nickel is a numismatic gem that combines historical significance, artistic beauty, and genuine rarity. Minted at the Denver facility (hence the “D” mint mark), this coin was part of the iconic Buffalo Nickel series designed by renowned sculptor James Earle Fraser.
The obverse features a composite portrait of three Native American chiefs, while the reverse showcases an American bison (commonly called a buffalo) standing on a mound.
Despite having a mintage of approximately 9.4 million coins – which might sound like a lot – very few have survived in excellent condition.
The PCGS (Professional Coin Grading Service) estimates that only about 4,500 of these coins exist across all grades today. Even more striking, only around 800 survive in uncirculated condition, and a mere 80 in gem quality (MS65 or better).
Think of these coins like vintage cars from the 1920s – while thousands were manufactured, finding one in pristine, showroom condition today is extraordinarily rare.
Time, circulation, and handling have taken their toll on the vast majority of these coins, making well-preserved specimens incredibly valuable to collectors.
The Value Breakdown: From Worn to Gem
The value of a 1920-D Buffalo Nickel varies dramatically based on its condition. Like fine wine or antique furniture, the state of preservation makes all the difference. Here’s how the values typically break down:
- In poor to good condition (grades 1-4), these coins are worth around $15-20
- In very fine condition (VF20), the value jumps to approximately $125
- In extremely fine condition (XF45), expect values around $360
- In uncirculated condition (MS60), the price soars to about $900
- In gem condition (MS65), the value reaches approximately $5,750
- At the pinnacle, a single MS67 example sold for an astounding $138,000 in 2008
This value progression demonstrates how dramatically condition affects worth. It’s like comparing a well-worn, heavily used vintage guitar to one that’s been perfectly preserved in its original case – both are the same model, but the pristine example commands a premium that can be hundreds of times higher.
Identifying Authentic 1920-D Buffalo Nickels
Before you start dreaming about what you’ll do with your newfound wealth, it’s important to know how to identify a genuine 1920-D Buffalo Nickel. Here are the key features to look for:
- The Date: Check that the coin clearly shows “1920”
- The Mint Mark: Look for a small “D” on the reverse side, located below the denomination “FIVE CENTS”
- The Design: The obverse shows a Native American profile facing right, while the reverse displays a buffalo (American bison) standing on a mound
- The Composition: The coin should be made of 75% copper and 25% nickel
Be aware that wear on these coins often affects the date first, as it was one of the highest points of the design. Many Buffalo Nickels in circulation have dates that are partially or completely worn away, significantly reducing their value regardless of other factors.
Why Is the 1920-D Buffalo Nickel So Valuable?
Several factors contribute to the extraordinary value of the 1920-D Buffalo Nickel, particularly in high grades:
Rarity in High Grades
While the 1920-D had a decent mintage of 9.4 million coins, very few survived in excellent condition. The Buffalo Nickel design, while beautiful, had practical flaws – the date and other high points wore down quickly in circulation.
Additionally, the Denver Mint in 1920 was known for producing coins with somewhat weaker strikes compared to other years and mints.
According to PCGS population reports, only about 80 examples exist in gem condition (MS65 or better), with just a single coin achieving the lofty MS67 grade.
This extreme rarity at the high end of the grading scale is what drives the astronomical prices for top specimens.
Historical Significance
The 1920-D Buffalo Nickel was produced during a fascinating period in American history – the post-World War I era and the beginning of the Roaring Twenties.
This time of significant social and economic change adds historical interest to the coin.
Additionally, the Buffalo Nickel series itself holds special significance as one of the most distinctly American coin designs ever produced.
Fraser’s intention was to create a coin that couldn’t be mistaken for any other nation’s currency, celebrating America’s native peoples and wildlife.
Collector Demand
The Buffalo Nickel series remains one of the most popular with collectors, both for its beautiful design and historical significance. The 1920-D is particularly sought after by serious collectors attempting to complete high-grade sets of the series.
As David Hall of PCGS notes, the 1920-D is “somewhat overlooked” compared to some other dates, yet it’s actually rarer in gem condition than all Denver mint issues from 1913 to 1918 and slightly rarer than the more highly regarded 1919-D. This combination of genuine rarity and steady collector demand drives its high value.
How the 1920-D Compares to Other Valuable Buffalo Nickels
The 1920-D is among the most valuable Buffalo Nickels, though it’s not quite at the top of the list. Here’s how it compares to some other notable rarities in the series:
| Coin | Estimated Value (MS67) | Key Features |
|---|---|---|
| 1918/7-D Buffalo Nickel | $350,750+ | Overdate error with “7” visible under “8” |
| 1926-S Buffalo Nickel | $322,000+ | Low mintage, extremely rare in high grades |
| 1916 Buffalo Nickel | $281,750+ | Rare in gem condition |
| 1913-D Buffalo Nickel (Type 2) | $143,750+ | First year of issue, design change |
| 1920-D Buffalo Nickel | $138,000+ | Rare in gem condition |
| 1917-S Buffalo Nickel | $138,000+ | Scarce in high grades |
While the 1920-D may not be the absolute rarest Buffalo Nickel, it remains a significant prize for collectors, especially in gem condition. Its value has steadily increased over the years, making it both a numismatic treasure and a solid investment.
Conclusion
The 1920-D Buffalo Nickel stands as a shining example of how an ordinary five-cent piece can transform into an extraordinary treasure worth up to $138,000 in the right condition. While the chances of finding a gem-quality example in your change jar are admittedly slim, circulated specimens are still out there and worth far more than their face value.
Even if you don’t discover a six-figure coin in your collection, the hunt itself can be rewarding. Each Buffalo Nickel tells a story of America’s past – the artistry, the history, and the craftsmanship of a bygone era.
So go ahead, check that jar of coins gathering dust on your shelf. Who knows? You might just find a piece of American history that’s worth far more than you ever imagined. Happy hunting!
FAQs About the 1920-D Buffalo Nickel
1. How can I tell if my 1920-D Buffalo Nickel is valuable? The value depends primarily on condition. Even in poor condition, a 1920-D Buffalo Nickel is worth about $15-20. Check for the “D” mint mark below “FIVE CENTS” on the reverse, and examine the overall wear. The horn on the buffalo and the details in the Native American’s hair are key areas that show wear first. For a precise valuation, consider having your coin evaluated by a professional numismatist.
2. Where is the mint mark located on a 1920-D Buffalo Nickel? The “D” mint mark, indicating the coin was struck at the Denver Mint, is located on the reverse (buffalo) side of the coin. Look below the denomination “FIVE CENTS” and you should see a small “D.” If there’s no mint mark, the coin was struck at Philadelphia and is less valuable.
3. Why are high-grade 1920-D Buffalo Nickels so rare? Several factors contribute to their rarity. The Buffalo Nickel design had high-relief elements that wore down quickly in circulation. Additionally, the Denver Mint in 1920 often produced coins with weaker strikes. Most importantly, few people in 1920 thought to preserve these coins in uncirculated condition – they were simply used as everyday currency, resulting in wear and damage over time.
4. Should I clean my 1920-D Buffalo Nickel to improve its appearance? Absolutely not! Cleaning coins almost always reduces their value significantly. Collectors prefer coins with original surfaces, even if they show toning or natural wear. A cleaned coin is immediately apparent to experienced collectors and will sell for much less than a coin with original surfaces.
5. Are there any known counterfeits of the 1920-D Buffalo Nickel? Yes, valuable coins like the 1920-D Buffalo Nickel have been counterfeited. Some common methods include adding a “D” mint mark to a Philadelphia issue or altering the date from a more common year. If you believe you have a valuable specimen, consider having it authenticated by a reputable grading service like PCGS or NGC, especially if you’re considering a purchase or sale of significant value.
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