Designer James E. Fraser created the Buffalo nickel (Indian head nickel) in 1913, and its production continued until 1938. His goal was to honor both Native Americans and American Bison, a symbol of the Wild West.
In 1935, the Buffalo nickel’s production increased to 80,656,000 pieces minted in three mints, San Francisco, Philadelphia, and Denver. That number makes the 1935 Nickel value low, except for a double die reverse variation that costs a significant sum of money.
1935 Buffalo Nickel Types
You can see a Native American bust facing right on the 1935 Buffalo nickel obverse with the word LIBERTY on the right side and the date placed below.
The American Bison image is on the coin reverse, with FIVE CENTS’ denomination below the animal’s feet. A Latin inscription E PLURIBUS UNUM and the UNITED STATES OF AMERICA are positioned above the buffalo’s head.
1935 Buffalo nickel |
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| Location | Year | Minted | Value |
| Philadelphia | 1935 | 58,264,000 | $1 to $2.2 |
| San Francisco | 1935 S | 10,300,000 | $1 to $2.7 |
| Denver | 1935 D | 12,092,000 | $1 to $6.5 |
| Total | / | 80,656,000 | / |
Many admirers have believed that the buffalo was actually the Black Diamond, an animal kept in the New York City Zoo. However, there is no confirmation for that info.
You can see the letter F on the obverse, under the date on all Buffalo nickels regardless of the mint where they were produced. This letter was referred to the sculptor James Earl Fraser‘s last name.
1935 Buffalo nickel |
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| Face value | 5 cents ($0.05) |
| Compound | 75% copper and 25% nickel |
| Coin weight | 0.17637 ounces (5 g) |
| Coin diameter | 0.83465 inches (21.2 mm) |
| Coin thickness | 0.07677 inches (1.95 mm) |
| Shape | Round |
| Edge | Plain |
The Buffalo nickel was a rare coin that kept the same composition throughout the entire minting period. This coin weighing 0.17637 ounces (5 g) was made of nickel and copper.
Unfortunately, nickels that spent a long period in circulation quickly wore, resulting in many coins in only good and fine grades. Therefore specimens in excellent condition are scarce, although this coin type is pretty common on the market.
1935 Buffalo nickel
The Philadelphia mint produced an impressive 58,264,000 of the regular-issue Buffalo nickels in 1935 without a mint mark. You can buy this coin in good condition for only $1, but specimens in the mint state will cost you up to $50. This coin in the certified mint state can be worth an impressive $250.
1935 Buffalo nickel value* |
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| Quality | 1935 | 1935 S | 1935 D |
| Good | $1 | $1 | $1 |
| Very good | $1.7 | $1.7 | $1.7 |
| Fine | $2 | $2.2 | $2.7 |
| Very fine | $2.2 | $2.7 | $6.5 |
| Extra fine | $3.2 | $4.4 | $16 |
| AU | $11 | $20 | $44 |
| MS 60 | $24 | $61 | $81 |
| MS 63 | $50 | $77 | $91 |
*by USA Coin book
It is estimated that only 1% of all preserved 1935 Buffalo nickels are in high grades with desired luster and complete details. Therefore, the coin in MS 65 condition will be worth just a little over $100, while you can get $850 to $1,000 for an MS 67 specimen.
It is possible to find this nickel in an MS 68 condition, and this super-scarce coin can reach $35,000. For now, there is only one piece graded so high exists in the world.
1935 proof Buffalo nickel
The Philadelphia mint didn’t produce proof Buffalo nickels in 1935.
1935 D Buffalo nickel
The 1935 D Buffalo nickel mintage is the second-highest, with precisely 12,092,000 coins produced that year. The average price for this coin is from $1 to $91, depending on its condition.
1935 Buffalo nickel value* |
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| Year | Good quality | Fine quality | Extra fine quality | Mint state |
| 1935 | $1 | $1.7 | $3 | $10 |
| 1935Â S | $1 | $2 | $4 | $18 |
| 1935Â D | $1 | $2.5 | $18 | $42 |
*by JM Bullion
The best way to recognize this nickel is to find the D mint mark on the coin reverse, below the FIVE CENTS denomination.
1935 S Buffalo nickel
San Francisco struck only 10,300,000 nickels in 1935, making this mintage the lowest that year. Nowadays, a piece in good grade will cost you only $1, but you should set aside at least $75 for an MS 63 specimen.
1935 Buffalo nickel value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Uncirculated | |
| 1935 | $0.5 | $1 | $2 | $18 |
| 1935Â S | $0.5 | $1 | $3 | $32 |
| 1935Â D | $0.7 | $2 | $15 | $38 |
*by CoinStudy
You can be sure to have the specimen minted in San Francisco if you can notice the S mint mark below the FIVE CENTS denomination on the coin reverse.
1935 Double Die Reverse Buffalo Nickels
The 1935 Buffalo nickel doubled die reverse is one of the best-known mint errors in the series. It occurred when the master hub doubled the design part and transferred that to the leading die.
When such a die struck the coins, they appeared doubled. In this case, you can find doubling in the FIVE CENTS inscription visible as crease or ledge.
Rare 1935 Buffalo nickel double die reverse |
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| Quality | Good | Very good | Fine | Very fine | Extra fine | AU | MS 63 | MS 65 |
| Price | $42 | $67 | $91 | $301 | $580 | $1,667 | $5,462 | $25,300 |
As is usually the case with error coins, doubling is considered a rarity that can cost much money. As far as is known, only a few 1935 DDR Buffalo nickels were made. Circulated coins will be worth $42 to $1,667. However, the price for specimens in the mint state will go to $5,462 or even $25,300 for the best-preserved ones.
Market Analysis
Like other Buffalo nickels, the one minted in 1935 has had a stable price over the last years. Because of precious metals’ absence, these coins won’t react to the gold and silver market fluctuations.
Some rarity and key date prices have declined recently, after reaching the peak value in 2008. However, experts expect more or less stable costs of these pieces thanks to a viable market, particularly among intermediate and advanced collectors.
Remember that the 1935 double die reverse Buffalo nickel is one of the rarest pieces in the series. Such a scarce coin is frequently counterfeit, so you should be very careful when buying one.
1935 Buffalo Nickel Grading
Buffalo nickels are trendy coins, and many collectors want to add them to their collections. Their value directly depends on a few factors, including:
- Design type
- The mint mark and date
- Minting errors
- A condition that includes corrosion or scratches, edge wear, and loss of details
Uncirculated – This nickel looks like it was just minted. Since such a piece wasn’t in circulation, you can’t notice any scratches or signs of damage on the surface. Plus, you will see the excellent luster every collector appreciates.
1935 Buffalo nickel value* |
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| Quality | 1935 | 1935 S | 1935 D |
| Good | $0.7 | $0.95 | $1.5 |
| Very good | $1.5 | $1.9 | $2.4 |
| Fine | $1.9 | $2.8 | $3.8 |
| Very fine | $2.8 | $3.8 | $9.5 |
| Extra fine | $3.8 | $4.5 | $23.7 |
| Uncirculated | $9.5 | $17 | $48 |
| Brilliant uncirculated | $23.7 | $48 | $67 |
| MS 65 | $120 | $240 | $475 |
*by Hobbizine
Extra fine – Such a well-defined coin spent only limited time in circulation and looked pristine at first glance. However, a closer inspection shows a lack of shine, light scratches, and stains on the surface. You can notice slight signs of wear on the Indian hair details.
Fine – This nickel spent some time in circulation so that you can notice inevitable damage on the surface. The most obvious signs of wear occur near the Indian’s cheekbone and the buffalo front legs. Fine details will miss from the animal’s hoof to its shoulder top, and you may have trouble recognizing the date.
1935 Buffalo nickel value* |
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| Quality | 1935 | 1935 S | 1935 D |
| Good | $0.7 to $0.8 | $0.7 to $0.8 | $0.7 to $0.8 |
| Very good | $0.9 to $1.3 | $0.9 to $1.3 | $0.9 to $1.3 |
| Fine | $1 to $1.6 | $1.1 to $1.6 | $2.1 to $3.2 |
| Very fine | $1.5 to $2 | $1.9 to $2.5 | $5.4 to $13 |
| Extra fine | $2.6 to $4.9 | $2.6 to $11.3 | $20.2 to $35.6 |
| AU | $7.4 to $21 | $22.3 to $43.7 | $48.6 to $75 |
| MS 60 | $23 to $27.5 | $50 to $60 | $74 to $89 |
| MS 61 | $24.3 to $29 | $54 to $65 | $81 to $97 |
| MS 62 | $31 to $37.2 | $58 to $70 | $81 to $97 |
| MS 63 | $37.8 to $45.4 | $74 to $89 | $94 to $113 |
| MS 64 | $55 to $66 | $88 to $105 | $122 to $140 |
| MS 65 | $115 to $133 | $182 to $218 | $300 to $344 |
| MS 66 | $195 to $224 | $338 to $389 | $715 to $822 |
| MS 67 | $819 to $1,090 | $2,380 to $2,880 | $8,120 to $11,200 |
*by Greysheet
Good – It is the worst grade for a collectible coin, meaning that it spent years in circulation. The coin surface is smooth and distinctly flattened, so you will hardly make out the inscriptions and Indian and buffalo imageries. Some of them can be bent and look beaten up.
Summary
Buffalo nickel set is affordable to most collectors, but the most dedicated admirers will probably have difficulty finding specimens in high grades. Their prices will vary, depending on the condition and possible errors.
Coins minted in 1935 are pretty common, but you may find it challenging to find highly graded pieces and a highly desired doubled die reverse nickel that sometimes costs a fortune.
