Explanation of Buffalo Nickel Prices?

ChuckC

I noticed that the PCGS population for an MS66 1938-D buffalo nickel is:

17,919 in 66
1,039 in 67
6 in 68.

Why does this coin trend for around $50-$60 when a full band merc such as a 40-D with a PCGS population of 740 in 66FB, 241 in 67FB, and 20 in 68 FB goes for roughly the same price? Are buffalos hotter than FB mercs? Is this a poor comparion or example in making this assumption? Are Buffalo prices long due for a downturn?

BTW, I want to buy a MS buffalo just to have in my repertoire of coins...what is your opinion of this particular coin?

Hoot

Buffalo nickels are one of the series that steadily gains a following over time. That following is large and is very unlikely to go away any time soon. In addition, the 38-D is probably the most collected of the Type 3 buffalo nickels (some regard them as Type 2) by type collectors. It was saved in droves and is relatively affordable in very high grade, even with extraordinary appearances.

Hoot

Hoot

BTW, the following of buffalo nickels has always been larger than winged Liberty dimes, even though the latter are also exquisite late American coinage.

Hoot

OnlyBuffalos

Chuck, the 1938-D that you referenced is a nice coin but I believe you can find a better example of a PCGS MS66 buffalo at that money. There are a great many to choose from. I also believe you can save a few dollars by acquiring that date raw. There are likely many more MS66 raw 1938-D nickels for sale than there are slabbed MS66 examples. Many rolls of that date still exist. The 1938-D buffalo is also a date that most dealers are willing to accept less than they are asking for it. As the population reports indicate, it is a very common coin and one that you can be very "choosey" over. Look for one that has excellent definition in the buffalo's head and shoulder areas and has clean fields.

ChuckC

Ah, thanks for the replies... so what is meant by type 3? I thought there were only two types of buffalo nickels.

ChuckC

ttt for more opinions

jonesy

You want more opinions?? Buffalo nickels Rule!!! Mercury dimes Drool!!!

Hoot

<< <i>Ah, thanks for the replies... so what is meant by type 3? I thought there were only two types of buffalo nickels. >>



Type 2 buffalo nickels are the buffalo on plain subtype that appeared from 1913 through 1915. These have rougher fields than later date pieces but not as rough of fields at the 1913 T1 buffalo on mound pieces. Beginning in 1916, the Mint re-worked the master hub, more clearly defined LIBERTY and brought to final smoothness the fields of the coin. Definition of devices were improved throughout and slight modification was made to the hair of the Indian - subtle, but noticeable. Non-specialists do not often recognize this subtype, but if you collect the series or study the nickels of 1913-16, then you will find the differences readily distinct.

Hoot

oreville

ChuckC: You need to factor in the population count of the non FB 1940-D mercury dimes in MS-66, 67, 68 etc.

Once you factor them in, you will then see that the 1940-D merc dimes are not as "cold" or "scarce" as shown in your post relative to their price.

islemangu

Type 2 buffalo nickels are the buffalo on mound subtype that appeared from 1913 through 1915. Beginning in 1916, the Mint re-worked the master hub and more clearly defined LIBERTY and brought to final smoothness the fields of the coin. Definition of devices were improved throughout and slight midification was made to the hair of the Indian - subtle, but noticeable. Non-specialists do not often recognize this subtype, but if you collect the series or study the nickels of 1913-16, then you will find the differences readily distinct.

Thanks Hoot for the good info. I've never heard the type 3 reference used either and coincidently was just recently looking at a 1914's type 1 like textured fields wondering when they became smooth.

Hoot

I see in my original post I said "Type 2 buffalo nickels are the buffalo on mound subtype..." which should have read "buffalo on plain." So, I edited the last post and added a bit more info. Sorry 'bout that! Think one thing, write another.

Hoot