The 1937-D Three-Legged Buffalo Nickel is one of the most famous error coins in U.S. history. Unlike ordinary nickels, this piece became a rarity because of a mistake during production. What makes it stand out is the missing front leg of the buffalo, giving it a unique look that fascinates collectors.
This error transformed the coin from a five-cent piece into a prized collectible worth hundreds of thousands of dollars. Many coin enthusiasts in the U.S. still search for this error coin today, hoping to uncover one in their collections. With recent auctions seeing prices as high as $270,000, the coin’s legendary status continues to grow.
How the Error Happened
The “Three-Legged” nickname comes from a minting mistake in Denver. During the process of repairing worn coin dies, mint workers over-polished the die used to strike nickels. This accidental over-polishing erased the front leg of the buffalo, leaving only three visible.
At first glance, it looked like a normal coin, but sharp-eyed collectors noticed the odd detail. Once word spread, demand skyrocketed, and the coin quickly became one of the most sought-after Buffalo Nickel varieties. Unlike many other mint errors, this one happened to a popular coin series, making it even more desirable to collectors across the U.S.
Why It Became So Valuable
The 1937-D Three-Legged Buffalo Nickel is valuable because it combines rarity, history, and demand. Collectors love error coins, but not every mistake gains this much attention. This nickel stood out because the missing leg is very obvious, making it easy to identify.
On top of that, the Buffalo Nickel series was already iconic, which boosted the appeal of this mint error. High-grade examples are extremely rare since many circulated heavily before people realized their worth. Today, a well-preserved piece can fetch up to $270,000 at auctions, making it one of the most profitable discoveries for lucky collectors.
Key Features to Identify the Coin
Collectors can spot the 1937-D Three-Legged Buffalo Nickel using a few clear markers:
- Missing front leg of the buffalo
- Blurred area where the leg should be
- “D” mintmark below the words “FIVE CENTS”
- Slight weakness in the buffalo’s belly area
- Usual wear on circulated examples but strong value regardless
These features make it easier to confirm authenticity. However, because the coin is so valuable, counterfeits are common. Collectors are advised to get authentication from grading services like PCGS or NGC before buying or selling.
Value Chart of the 1937-D Three-Legged Buffalo Nickel
| Grade | Estimated Value |
|---|---|
| Good (G-4) | $500 – $1,000 |
| Fine (F-12) | $1,200 – $2,500 |
| Extremely Fine (XF-40) | $3,500 – $6,000 |
| About Uncirculated (AU-55) | $8,000 – $15,000 |
| Mint State (MS-63) | $30,000 – $80,000 |
| High Mint State (MS-65+) | $100,000 – $270,000 |
This table shows how condition impacts price. Even worn coins still carry significant value, proving just how rare and collectible this nickel is today.
Secondary Factors That Influence Price
Apart from grade, several other elements affect the coin’s market value:
- Eye Appeal: A coin with sharper details and attractive luster sells higher.
- Authentication: Certified coins hold more value compared to raw ones.
- Auction Demand: Prices often rise during competitive bidding.
- Historical Popularity: As one of the most famous error coins, its story adds to the price.
- Surviving Quantity: Fewer high-grade examples exist, which drives up rarity and value.
These factors explain why some examples bring six figures while others sell for much less.
Comparison With Other Famous Error Coins
| Error Coin | Unique Feature | Value Range |
|---|---|---|
| 1937-D Three-Legged Buffalo Nickel | Missing front leg on buffalo | $500 – $270,000 |
| 1955 Double Die Lincoln Cent | Doubled date and lettering | $1,000 – $50,000 |
| 2000 Sacagawea Dollar Mule Error | Washington quarter obverse mix-up | $50,000 – $200,000 |
| 1943 Copper Penny | Wrong metal used during wartime | $100,000 – $1.7M |
This comparison shows how the 1937-D ranks among the most valuable U.S. coin errors.
Collectors’ Tips for Finding One
For anyone hoping to add this coin to their collection, here are some helpful points:
- Check old family coin jars and collections for Buffalo Nickels.
- Focus on coins minted in Denver in 1937.
- Use a magnifying glass to spot the missing leg detail.
- Buy only from trusted dealers or certified auction houses.
- Consider professional grading to secure its authenticity.
Following these steps can help collectors avoid scams and maximize their chances of owning a genuine piece.
Conclusion
The 1937-D Three-Legged Buffalo Nickel is proof that even mistakes can become treasures. What started as a polishing error in the Denver Mint turned into one of the most famous U.S. coins, loved by collectors everywhere. Its value, which can soar up to $270,000, makes it one of the most desirable error coins in American history.
Whether you’re a seasoned numismatist or a beginner, this coin remains a symbol of how a simple minting error can turn into a legendary rarity. The hunt for the 1937-D Three-Legged Buffalo Nickel continues, keeping the excitement of coin collecting alive.
Ivan is a passionate finance writer who specializes in simplifying complex money matters for everyday readers. With a strong background in personal finance, investing, and market trends, he provides clear and engaging insights to help people make smarter financial decisions. Ivan’s work focuses on practical strategies for saving, investing, and building wealth, making finance accessible and relatable to all.