5 Costly Buffalo Nickel Error Selling Mistakes Even Experts Make (And How to Avoid Them)

I’ve Seen These Mistakes Cost Collectors Thousands – Protect Your Buffalo Nickels

After thirty years in coin collecting, I’ve watched five avoidable errors slash Buffalo Nickel values time after time. We’re not talking about common dates here – these are dramatic mint errors like double strikes and 30% off-center coins. Let me show you how to avoid leaving money on the table when selling these rare pieces.

Mistake 1: Assuming Any Dealer Knows Errors

The Generalist Trap

Red Flag: Handing your rare nickel to a dealer who specializes in Morgan dollars

Your 1916 off-center nickel isn’t just pocket change—it’s a specialist’s dream. Most general dealers:

• Offer wholesale prices (50-60% of true value)
• Miss key error characteristics
• Don’t know serious error collectors

Your Specialist Roadmap

Find the right buyer in three simple steps:

• Search PCGS/NGC dealer lists for “mint error” specialists
• Study completed sales at Heritage Auctions
• Visit error-focused tables at major coin shows

Mistake 2: Choosing the Wrong Selling Venue

eBay Isn’t Always the Answer

Common Error: Listing a rare double-strike nickel in a generic eBay auction

Your 1935 double-struck nickel deserves better exposure. Remember:

Specialized auctions attract specialists willing to pay premium prices – I’ve seen identical coins sell for 30% more at Heritage than on eBay.

Match Your Nickel to the Market

Follow this simple guide:

• Top-tier errors ➔ Heritage Signature Auctions
• Mid-range varieties ➔ Great Collections Featured Sales
• Extreme rarities ➔ Specialist dealers like Jon Sullivan

Mistake 3: Removing Coins From Holders

Why Slabs Matter

Critical Warning: Never crack out certified error coins before selling

That PCGS-graded off-center nickel could lose 30% of its value if removed from its holder. I learned this the hard way in 2015 when a collector lost $2,100 by breaking a coin out. Always:

• Keep certification numbers visible in photos
• Track all slabs in a simple spreadsheet
• Highlight certifications in all listings

Mistake 4: Overlooking Family Interest

Your Coins Could Be Heirlooms

Missed Opportunity: Assuming your family only wants “normal” coins

Before selling Grandpa’s error collection, try this:

1. Share the story behind each unusual strike
2. Create simple ID cards for key pieces
3. Identify interested family members
4. Set minimum values for keeping vs. selling

Mistake 5: Waiting Until Crisis Strikes

Prepare Before the Emergency

Smart Strategy: Create your exit plan now – not during a hospital stay

My basic preparedness checklist:

• Professional photos of all key coins
• Updated certification verifications
• List of three potential buyers
• Minimum prices in writing
• Trusted person briefed on collection

Bonus: If You’ve Already Made Mistakes

Damage Control Tactics

If you’re reading this too late, try these fixes:

• Sold too cheap? Check auction buyback options
• Wrong attribution? Request grading service review
• Family conflicts? Use ANA mediation services

Selling Your Errors Right Protects History

Buffalo Nickel errors connect us to America’s minting history. By avoiding these five common mistakes—from picking wrong venues to mishandling certifications—you’ll preserve both your financial legacy and these historical artifacts. Remember: you’re not just selling coins, you’re passing on pieces of history.

Quick Pre-Sale Checklist:

• ☑ Found true error specialists
• ☑ Kept coins in certified holders
• ☑ Talked with family members
• ☑ Prepared emergency plan
• ☑ Set minimum acceptable prices

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