The Real Market Value of 1913 Type 1 Buffalo Nickels: What Collectors Need to Know
February 26, 2026How to Spot Rare Errors on The 1913 Type 1 Buffalo Nickels really did have to go
February 26, 2026The Birth of an American Icon
Every relic tells a story. To understand this item, we have to look at the era in which it was created. The Buffalo Nickel, designed by James Earle Fraser and introduced in 1913, represented a bold departure from traditional American coinage. Featuring a proud Native American chief on the obverse and an American bison on the reverse, it embodied the spirit of the American West and marked a significant shift toward more artistic, culturally resonant designs.
The Type 1 Design: Beauty Meets Practicality
The original Type 1 design was undeniably beautiful. Fraser’s roughhewn fields and deeply sculpted relief created a coin that collectors immediately recognized as something special. However, these very artistic elements that made the coin so appealing also created serious production problems. The textured fields caused excessive die wear, leading to inconsistent strike quality and frequent die cracks. More critically, the word “Cents” on the reverse began wearing away prematurely with circulation.
The 1883 Liberty Nickel Fiasco: A Lesson Remembered
To understand why the Mint reacted so quickly to the Type 1 Buffalo Nickel’s problems, we must examine a notorious incident from thirty years earlier. When the Liberty Head Nickel was introduced in 1883, it featured a large Roman numeral “V” but lacked the word “Cents.” Unscrupulous individuals discovered that these nickels were similar in size to five-dollar gold pieces. They gold-plated the coins and successfully passed them off as half eagles in transactions where quick visual inspection was all that occurred. This deception caused significant embarrassment to the Mint and damaged public confidence.
The Liberty Head Nickel fiasco of 1883 left a lasting impression on Mint officials. The memory of that embarrassment persisted for decades, influencing design decisions long after the immediate problem had been solved by adding “Cents” to the reverse.
Why the Type 1 Had to Go
By 1913, the Mint faced a dual crisis with the Buffalo Nickel. First, the artistic elements that made the coin beautiful were causing severe production issues. Dies were wearing out prematurely, creating quality control nightmares and increasing production costs. Second, and perhaps more importantly from the Mint’s perspective, the word “Cents” was wearing away too quickly in circulation.
According to David Lange’s authoritative work on Buffalo Nickels, “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.” The collective memory of that earlier embarrassment made Mint officials particularly sensitive to any design element that might create confusion about a coin’s value.
Charles Barber’s Intervention
Chief Engraver Charles Barber, who had never been enthusiastic about the new design, saw an opportunity to address both problems simultaneously. He modified Fraser’s design, creating what would become known as the Type 2 Buffalo Nickel. The most significant change was moving the words “FIVE CENTS” into a recessed exergue below the mound on which the bison stands. This protected the denomination from wear while also allowing for smoother fields that would extend die life.
The modification was implemented so quickly that Type 2 nickels were being produced before the end of 1913, making the Type 1 a one-year-only design. This rapid response demonstrates how seriously the Mint viewed the problems with the original design.
Production Realities and Design Philosophy
Some numismatists have questioned whether concerns about gold-plating were truly the driving force behind the redesign. They argue that the practical production issues alone would have necessitated changes. However, the historical record suggests that both factors played a role. The Mint was dealing with a coin that was beautiful but impractical, and they were also mindful of past embarrassments.
The tension between artistic merit and practical functionality in coin design remains relevant today. The Type 1/Type 2 transition represents one of the most dramatic examples of this tension being resolved in favor of practicality, albeit with sensitivity to historical context.
Collecting the Type 1 Buffalo Nickel Today
Today, the 1913 Type 1 Buffalo Nickel is highly sought after by collectors precisely because of its historical significance and one-year-only status. The design’s artistic merit, combined with its brief production run and the interesting story behind its replacement, makes it a cornerstone of any serious Buffalo Nickel collection.
Key dates and mint marks for Type 1 nickels include the 1913 Philadelphia (no mint mark), 1913-D (Denver), and 1913-S (San Francisco) issues. The San Francisco mintages are particularly scarce and command premium prices, especially in higher grades.
Authentication and Value Considerations
When collecting Type 1 Buffalo Nickels, authentication is crucial. The design’s complexity means that counterfeits and altered coins do exist. Key authentication points include examining the depth and style of the Native American’s portrait, the texture of the bison’s fur, and the placement and style of the lettering.
Values for Type 1 nickels vary dramatically based on condition. Even well-worn examples command significant premiums over later dates due to their historical importance. Mint State specimens, particularly from the Denver and San Francisco mints, can be quite valuable, with prices reaching into the thousands of dollars for exceptional examples.
The Legacy of the Type 1 Design
Despite its short production run, the Type 1 Buffalo Nickel left an indelible mark on American numismatics. Its artistic merit has been widely praised, and many collectors consider it the most beautiful design ever used on a circulating American coin. The fact that it was replaced due to practical concerns rather than artistic ones adds to its mystique.
The Type 1/Type 2 transition also represents an interesting case study in how institutions learn from past mistakes. The Mint’s sensitivity to the 1883 Liberty Nickel fiasco, whether entirely rational or somewhat exaggerated, demonstrates how historical memory can influence design decisions decades later.
Conclusion: More Than Just a Coin
The 1913 Type 1 Buffalo Nickel is far more than just a piece of currency. It represents a moment when artistic ambition collided with practical necessity, when historical memory influenced contemporary decisions, and when the United States Mint grappled with the challenge of creating coins that were both beautiful and functional. For collectors and historians alike, it remains a fascinating artifact that tells a story far richer than its simple denomination would suggest.
Whether you’re drawn to its artistic merit, its historical significance, or its role in the evolution of American coinage, the Type 1 Buffalo Nickel continues to captivate collectors more than a century after its brief production run ended. It stands as a testament to the complex interplay of art, commerce, and institutional memory that shapes even the smallest artifacts of our material culture.
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