The 1913 Type 2 Buffalo Nickel is a stunning artifact of American numismatic history. Renowned for its distinctive design and rarity, this coin has captured the fascination of collectors and investors alike. With some specimens valued as high as $45,000, the 1913 Type 2 Buffalo Nickel remains a timeless symbol of artistry and historical significance. In this article, we’ll explore its unique features, the factors that drive its value, and how collectors can identify and preserve this gem.
What Sets the 1913 Type 2 Buffalo Nickel Apart?
Introduced in 1913, the Buffalo Nickel was designed by sculptor James Earle Fraser to celebrate the American West. Midway through the year, the design underwent a revision, giving rise to the Type 2 version.
Key Features
- Obverse Design: Displays a composite portrait of three Native American chiefs, representing the dignity and culture of Indigenous Americans.
- Reverse Design: Features an American bison standing on a flat surface, replacing the Type 1 design’s raised mound.
- Material Composition: Made of 75% copper and 25% nickel, ensuring durability despite frequent circulation.
Why Is the 1913 Type 2 Buffalo Nickel So Valuable?
The coin’s high value stems from its historical importance, rarity, and the condition in which it is preserved.
Historical Importance
The redesign in 1913 aimed to extend the lifespan of the reverse details, as the raised mound on Type 1 coins wore down quickly. The Type 2 design represents a significant moment in American minting history.
Rarity
While millions of Buffalo Nickels were minted, the Type 2 variant from 1913 is increasingly rare, especially in high grades.
Condition
Coins graded MS-65 or higher are particularly valuable, with pristine examples fetching up to $45,000 at auction. Even moderately worn coins can command impressive prices due to their age and significance.
How to Identify a 1913 Type 2 Buffalo Nickel
Correctly identifying this coin is crucial to determining its authenticity and value.
1. Look at the Reverse
The Type 2 design features a bison standing on a flat plain rather than the raised mound seen on Type 1 coins.
2. Check the Date
Ensure the coin is dated 1913. The date should be legible and positioned above the reverse inscription.
3. Examine the Condition
Coins with sharp details, minimal wear, and no visible damage are the most valuable.
4. Seek Professional Grading
Have your coin evaluated by experts like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) for an official grade and certification
How to Preserve and Store Rare Coins
To maintain the value of a 1913 Type 2 Buffalo Nickel, proper care and storage are essential.
1. Use Protective Holders
Store the coin in an air-tight, non-abrasive holder to prevent exposure to moisture and contaminants.
2. Avoid Direct Handling
Always use gloves when handling coins to avoid transferring oils or dirt from your hands.
3. Keep Away From Extreme Conditions
Store your collection in a cool, dry environment to avoid tarnishing or damage.
4. Insure Your Collection
For high-value coins, consider insuring your collection to protect against theft or accidental damage.
Tips for Collectors and Investors
- Buy from Trusted Dealers: Ensure you purchase coins from reputable sources to avoid counterfeits.
- Stay Informed: Monitor market trends and auction results to gauge the current value of rare coins.
- Invest in Grading: Professionally graded coins often command higher prices and are easier to resell.
- Network with Collectors: Join numismatic forums or local coin clubs to exchange knowledge and discover opportunities.
1. What is the difference between Type 1 and Type 2 Buffalo Nickels?
The primary difference lies in the reverse design. Type 1 features a bison on a raised mound, while Type 2 depicts the bison standing on a flat plain.
2. How much is a 1913 Type 2 Buffalo Nickel worth?
The value ranges from a few hundred dollars for worn coins to $45,000 for uncirculated, high-grade specimens.
3. Where can I buy a 1913 Type 2 Buffalo Nickel?
Reputable dealers, online marketplaces, and auction houses are the best places to purchase this rare coin.
4. How can I authenticate a Buffalo Nickel?
Authentication by grading services such as PCGS or NGC ensures your coin is genuine and provides an official grade.
5. Why is the 1913 Type 2 Buffalo Nickel considered rare?
Its rarity is due to the mid-year design change in 1913 and the limited number of surviving coins in excellent condition