Smart Buying Guide: How to Buy 1913 Type 1 and Type 2 Buffalo Nickels Without Getting Ripped Off

If you’re hunting for 1913 Type 1 or Type 2 Buffalo Nickels, let me share the secrets I’ve learned from decades of handling these American classics. As both a collector and market analyst, I’ve seen too many enthusiasts burn cash on “proofs” that turn out to be polished circulation strikes. This guide will help you separate the wheat from the chaff—whether you’re chasing raw coins fresh from estates or certified gems in slabs.

Historical Significance and Context

Holding a 1913 Buffalo Nickel is like gripping a piece of America’s soul. James Earle Fraser’s masterpiece—featuring a proud Native American profile and a majestic bison—revolutionized U.S. coinage. That first year gives us two legendary varieties: Type 1’s dramatic “mound” reverse (quickly abandoned as impractical) and Type 2’s cleaner “flat-ground” design. While millions entered circulation, the Philadelphia Mint’s proofs? Those are the holy grails. Struck on specially prepared planchets with multiple blows from polished dies, true proofs boast mirror-like fields so deep you could shave in them. But beware—as forum discussions prove daily, most “proofs” are just well-preserved business strikes missing critical diagnostics.

Where to Buy 1913 Buffalo Nickels

Your sourcing strategy makes or breaks this hunt. Through trial and error (and a few costly mistakes), I’ve curated these trusted channels:

1. Established Coin Dealers and Auction Houses

The old guard knows best. Dealers with memberships in ANA or PNG clubs—like those praised in forum threads—often handle fresh estate material. For slabbed rarities, houses like Heritage and Stack’s Bowers consistently offer 1913 proofs with solid provenance. Recent hammer prices? Circulated Types 1-2 under $50 in Good-VF, while proofs skyrocket from $1,500 (PR60) to $10k+ (PR68). That matte finish on true proofs? Pure numismatic magic.

2. Online Marketplaces with Caution

eBay can yield treasures, but approach like a detective sorting clues. Zoom those listing photos—study every hairline on the bison’s fur and every curve of the Native American’s braid. I avoid any seller who can’t provide edge shots; that mirrored proof edge doesn’t lie. And if you see “proof-like” without PCGS/NGC certification? Run faster than a spooked buffalo.

3. Coin Shows and Clubs

Nothing replaces holding history in your palm. At major shows, you’ll find specialists letting you examine coins under loupes—critical for spotting the cameo contrast of real proofs. Club meetups? That’s where I’ve nabbed my best deals, trading stories with gray-haired collectors who remember when Buffalos circulated.

4. Raw vs. Slabbed: A Critical Decision

Here’s my mantra: buy the coin, not the holder. Raw examples tempt with lower prices, but demand eagle-eyed scrutiny—that “mint luster” might be recent polishing. For new collectors, stick with PCGS/NGC slabs; their “mint state” designations remove doubt. Veterans? We know raw coins in old albums sometimes hide superb original patina. Just bring your 10x loupe!

Red Flags: Avoiding Overpriced or Fake Proofs

Let’s crush a dangerous myth: 99% of “1913 proofs” are imposters. Arm yourself with these diagnostics:

• Weak Strike and Die State: True proofs bite into the planchet like frozen footprints—razor-sharp LIBERTY bands, fully defined horn on the bison. One forum sage put it perfectly: “Rims should slice paper, not whisper.”
• Mirrored Finish: Not just shiny—liquid mercury fields that swallow light. If your coin shows satin frost or hairlines, it’s a business strike wearing party clothes.
• Grading Discrepancies: I’ve seen “PF-65” labels from shady services on coins grading VF details. Trust only PCGS/NGC for 1913 proofs—their population reports don’t lie.
• Price Anomalies: A $300 “proof” is always a fake. Real matte proofs start around $1.5k even for lower grades—check recent auction archives religiously.
• Image Quality: Blurry photos hide devilish details. Demand Fraser’s signature on the obverse (Type 1 only) and the bison’s hoof cleft in high-res.

Remember the forum’s cautionary tale? Those “attractive” coins were just AU business strikes—pretty, but not proofs. Don’t let eye appeal cloud your judgment.

Negotiating Tips for the Savvy Collector

Negotiation isn’t haggling—it’s a dance between passion and pragmatism. Here’s how I’ve secured museum-quality pieces without emptying my bank account:

1. Do Your Homework

Knowledge is leverage. Memorize Red Book ranges: $10-20 for F-VF circulates, $200+ for full-horn AU examples. When a dealer claims “rare variety,” ask for die markers. Those forum experts spotting circulation strikes? That’s the power of numismatic literacy.

2. Leverage Condition Nuances

For raw coins, gently note flaws—”That horn wear brings it down to F15, right?” With slabbed pieces, reference Cert Verification tools: “PCGS shows 12 PR65s sold last quarter averaging $4.2k—can we do $3.9k?”

3. Bundle and Bulk Buying

Dealers love moving inventory. That shoebox of common-date Buffalos? Offer to take the lot for 15% below list. I once scored a Type 2 by buying five Mercury dimes the dealer couldn’t move.

4. Timing and Relationships

January-February gold rushes? Dead zones for buyers. I stalk auctions post-summer vacations when consignments flood in. And that gruff dealer at your local club? Buy him coffee—next month he might show you a proof from his personal safe.

5. Use Evidence from the Community

Forum wisdom cuts through seller spin. “The NGC chat suggests this strike weakness indicates circulation—let’s adjust accordingly?” works wonders. Just don’t name-drop anonymously!

Value Guide: Raw vs. Slabbed 1913 Buffalo Nickels

Current market realities (mid-2024):

• 1913 Type 1 Circulated (Raw): $8-45—eye appeal matters! That “nice for grade” piece might fetch $60 from type collectors.
• 1913 Type 2 Circulated (Raw): $10-60—slightly scarcer, especially with full horn detail. Beware counterfeits!
• 1913 Proof (Slabbed): PR60: $1.5-2.8k; PR65: $4-7k; PR68: $12k+. Matte proofs? Add 25% premium—they’re museum pieces.
• Raw Proofs: Only for experts with X-ray vision. I once paid $900 for a raw PR63 lookalike that graded… AU58. Lesson learned.

Slabbed coins trade like blue-chip stocks—predictable and liquid. Start with certified F-VF examples to learn strike characteristics before chasing proofs.

Authentication and Due Diligence

Never gamble with authenticity. For 1913s: Philadelphia issues (no mintmark) are your only proof source—Denver/San Francisco minted circulation strikes only. Heft it—5.0 grams exact. Test with a magnet (genuine nickels ignore it). And that “original toning”? Might be sulfur treatment. When in doubt, submit to NGC’s QuickVerify—$15 could save $1,500.

“The type 1 gives me pause—rims should cut glass, not cookies.” – Forum Sage

This wisdom echoes through collecting circles. Before buying, flood the forums with photos—veterans love flexing their authentication muscles.

Conclusion: The Collectibility of 1913 Buffalo Nickels

Type 1 and Type 2 Buffalos encapsulate America’s spirit—raw, beautiful, and enduring. While proofs remain the crown jewels, don’t snub circulated survivors. That VF Type 1 whispering of pocket transfers? It probably rode the rails with Teddy Roosevelt’s Rough Riders. Buy smart: prioritize strike sharpness over shiny surfaces, provenance over promises. And remember—the forums are your allies. As one wise collector told me, “Every buffalo needs its herd.” Now go hunt with confidence!

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