Grading The 1913 Type 1 Buffalo Nickels: The Difference Between $10 and $1,000

Historical Significance

Condition is everything. Here is how to look at the high points and fields to determine the true grade of this piece. The 1913 Type 1 Buffalo Nickel represents a pivotal moment in American numismatics – a design that was beautiful but fatally flawed for circulation. While collectors today prize these coins for their artistic merit and historical importance, the United States Mint quickly discovered that the Type 1 design had serious practical problems that would ultimately lead to its replacement.

Identifying Key Markers

The most critical element to examine when grading a 1913 Type 1 Buffalo Nickel is the word “Cents” on the reverse. This is where the design’s fundamental flaw becomes apparent. The rough, textured fields that give the Type 1 its distinctive appearance also caused rapid die wear, particularly in the areas where the denomination appears.

“While the design was distinctive enough to preclude any doubt as to the coin’s face value, the Mint was overly sensitive on this point, remembering the fiasco of 1883.” – David Lange, Buffalo Nickels, Third Edition

When examining a Type 1 Buffalo Nickel, pay close attention to the wear patterns. The high points to check include:

• The Indian’s hair braid and cheek
• The buffalo’s shoulder and hip
• The horn and tail areas
• Most critically, the word “Cents” on the reverse

The rapid wear of “Cents” was particularly concerning to Mint officials who remembered the 1883 Liberty Nickel scandal, where unscrupulous individuals gold-plated coins and passed them off as five-dollar gold pieces. This historical context explains why the Mint was hypersensitive to any design that might allow similar fraud.

Strike Quality Assessment

The strike quality of Type 1 Buffalo Nickels varies significantly due to the design’s technical challenges. The rough, textured fields that were intended to be aesthetically pleasing actually worked against proper metal flow during striking. This resulted in:

• Incomplete strikes on the buffalo’s horn and tail
• Weak definition in the Indian’s hair details
• Die cracks appearing early in the die’s life cycle
• Overall softness in the central design elements

When grading, it’s essential to distinguish between weak strike and actual wear. A coin might appear worn when in fact it simply suffered from a poor strike. Look for the presence of luster in protected areas to help make this determination.

Luster and Eye Appeal

The luster characteristics of Type 1 Buffalo Nickels are unique due to their composition and striking characteristics. Original mint luster should appear as a satiny, sometimes frosty texture across the fields. However, the rough surfaces of Type 1 coins tend to break up luster more quickly than the smoother Type 2 design.

Key luster indicators to examine:

• Presence of cartwheel effect when rotated under light
• Consistency of luster across both obverse and reverse
• Areas where luster breaks first (typically high points)
• Any signs of cleaning or surface alteration

Eye appeal is particularly important for Type 1 Buffalo Nickels because their value can vary dramatically based on overall appearance. A coin with excellent luster but weak strike might grade lower than one with average luster but strong strike and good detail definition.

PCGS/NGC Standards

Professional grading services apply specific criteria to Type 1 Buffalo Nickels that differ somewhat from standard grading practices due to the design’s inherent weaknesses. Here’s how the major grading factors are weighted:

MS60-MS62 Range

At this level, coins typically show significant wear on the high points, particularly the Indian’s hair braid and the buffalo’s shoulder. The word “Cents” may show considerable wear, and strike weakness is common. These coins trade primarily as type examples rather than date/mintmark collectibles.

MS63-MS64 Range

These coins show light wear confined to the highest points. The word “Cents” remains mostly complete, though some flattening may be present. Original luster should be evident, and strike weakness should be minimal. This is where many attractive Type 1 examples fall.

MS65 and Above

Top-grade Type 1 Buffalo Nickels are exceptionally rare. These coins must show full original luster, sharp strike definition, and minimal to no wear on any design element. The word “Cents” must be complete and sharp. Surface marks are minimal, and eye appeal is outstanding.

Market Valuation

The price differential between grades in Type 1 Buffalo Nickels can be dramatic. A typical 1913 Type 1 in MS60 condition might trade for $50-100, while an MS65 example could command $1,000-2,000 or more. The finest known specimens have sold for over $10,000 at auction.

Key date and mintmark variations within the Type 1 series can add significant premiums. The 1913-S Type 1, for instance, is particularly scarce and valuable, often commanding prices 5-10 times higher than Philadelphia issues in comparable grades.

Authentication Considerations

When authenticating Type 1 Buffalo Nickels, pay particular attention to:

• The style of the 5 in the date (Type 1 has a distinctive serif)
• The texture and depth of the fields
• The style of the word “Cents” and its relationship to surrounding design elements
• Any signs of tooling or alteration, particularly around the date

Counterfeiting is relatively uncommon for this series, but altered dates and added mintmarks do appear occasionally. Professional authentication is recommended for any coin that appears to be in exceptional condition or carries a significant premium.

Conclusion

The 1913 Type 1 Buffalo Nickel represents both the artistic pinnacle and technical nadir of early 20th century American coinage. Its beautiful but impractical design teaches us valuable lessons about the balance between aesthetics and functionality in coin design. For collectors, these coins offer a fascinating study in how wear patterns, strike quality, and historical context all contribute to a coin’s ultimate grade and value. Whether you’re examining a well-worn circulated example or a pristine mint state specimen, understanding these grading principles will help you appreciate the true worth of these historic coins.

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