Rare 1937-D Buffalo Nickel with Three Legs May Bring $270,000 at Auction

The Three-Legged Buffalo Nickel 1937-D is a coin that is known by every collector in the world of coin. This coin is famous not only due to its rarity, but also to its interesting human mistake that has become one of the historical and precious treasures. This coin is ranked as one of the most popular error coins in America today and has got its market worth in millions of dollars.

The origin of the 1937-D Three-Legged Nickel Story.

It was 1937 and the Denver Mint was producing coins. There was a significant issue, a so-called die clash. This was the case that the upper die of the coin and the lower die met each other accidentally without the blank metal disc. This crashed and left scratches and marks on the die.

To do away with these imperfections, one employee of the Mint started polishing the die. But as he was polishing he accidentally cut off one of the front legs of the bison. Consequently there was only an indistinct shoulder of the fourth leg accompanied by a faint mark and hoof only of three of the buffalo legs seen on the coin.

The error was made in thousands of such coins which were minted and circulated before authorities noticed the mistake and substituted the die. This is what made the coin to be called Three-Legged Buffalo Nickel.

Why is this coin so valuable?

This defect is the real merit of this coin, and the few good specimens which remain.

Obvious and Unique Error – Minting errors can often be trivial to an extent that they need to be identified by a professional eye. But the fact that this coin lacks the whole leg of the buffalo is so important and obvious that any one can easily identify it. This is what makes it special.

Low quality of supply- Before the mistake was found, a large proportion of the coins had been put into circulation. The coins deteriorate with circulation. This is the reason why today there are few uncirculated or very good specimen and collectors are keen to get their hands on them.

Great collector demand – It is a human mistake coin that was one of the most famous in the history of coins. Therefore, the collectors in the United States and globally are ready to spend huge amounts to acquire it.

Deterring Real and Counterfeit Coins.

The popularity of this coin has increased to the extent that fake versions are being introduced into the market. Individuals are known to come up with a fake three-legged by rubbing or cutting the regular four-legged Buffalo nickel.

However, to detect a real coin, professionals seek some indicators of die:

• The shadow-like form of the lost leg.
• The abnormal lustre as a result of polishing in the rear leg.
• The unique lines and scratches underneath the belly of the buffalo.

Bidding Price and Story of Auction.

This coin will be sold at whatever price basing on its condition. The coin is very old and battered, but still can sell at a very high price–hundreds of dollars or thousands of dollars.

However, when the coin is in a superior state, the price rises tremendously. One such quality coin was auctioned and made another record in 2008 at 270,000 dollars (around 2 crore).

It is approximated that a coin of the same quality will be selling at an even greater price by 2025 in case it re-emerges.

Another Numismatic History.

The Three-Legged Buffalo Nickel 1937-D is not only a coin, but a story, a tale of human mistake, chance, and scarcity. It made the collectors to understand sometimes a minor error can turn out to be the best treasure of history.

This coin is a sign of the fact that even a tiny technical mistake in the sphere of minting can become a nice asset that can bring millions of dollars.

Conclusion

This coin is a dream coin in your collection especially when you are a coin enthusiast. It may be considered as an outstanding phenomenon in the history of coins or as a very costly investment to make, but the 1937-D “Three-Legged” Buffalo Nickel is one of the most desirable and valuable coins in coin collecting.

FAQs