The 1931-S Buffalo Nickel is an important coin for collectors due to its low mintage and historical design. It was struck at the San Francisco Mint during a time of economic difficulties in the early 1930s. This coin is known for its beautiful design, created by artist James Earle Fraser, and for being one of the most sought-after Buffalo nickels among collectors. If you’re interested in learning about this unique piece of history, this guide will cover its background, rarity, market value, and design features.
Why is the 1931-S Buffalo Nickel So Special?
The 1931-S Buffalo Nickel stands out because it has one of the lowest mintage numbers in the entire Buffalo Nickel series. Only 1.2 million of these coins were made, which is very low compared to other years. However, it almost had an even lower mintage. At one point in 1931, only 194,000 were made before the U.S. Mint decided to increase production. This makes the 1931-S Buffalo Nickel an interesting and valuable coin for collectors.
Market Data and Noteworthy Specimens
Despite being a popular coin, some numismatists argue that the 1931-S Buffalo Nickel should not be labeled as a “semi-key” coin. While it does command a premium price, it is not as rare as some other coins in the Buffalo Nickel series. Still, collectors have always been interested in high-grade versions of the coin. The most sought-after examples are those graded MS67, with some selling for tens of thousands of dollars at auctions.
For example, a PCGS MS67 1931-S Buffalo Nickel once sold for as high as $38,000. These top-grade coins are rare, and their prices reflect their demand among collectors.
Design of the 1931-S Buffalo Nickel
The 1931-S Buffalo Nickel features a design that is rich in American history. On the obverse (front), the coin depicts a Native American man’s profile. This figure was created by artist James Earle Fraser and is a combination of several Native American leaders, including Chief Iron Tail, Big Tree, and Two Moons. The design of this powerful figure is highly recognized and remains one of the most iconic features of the Buffalo Nickel series.
On the reverse (back) of the coin, you’ll find an image of a buffalo. This buffalo is believed to be modeled after a buffalo named Black Diamond, who lived at the Central Park Zoo in New York. The reverse also includes the words “UNITED STATES OF AMERICA” and “FIVE CENTS,” as well as the mintmark “S” for the San Francisco Mint.
One thing that stands out about the 1931-S Buffalo Nickel is that it does not include the motto “In God We Trust,” which is typically found on U.S. coins. This decision was made by the Mint Director at the time, George Roberts, who stated that the motto was not required for this particular coin.
Coin Specifications
| Country | United States of America |
|---|---|
| Year of Issue | 1931 |
| Denomination | Five Cents (USD) |
| Mintmark | S (San Francisco) |
| Mintage | 1,200,000 |
| Alloy | 75% Copper, 25% Nickel |
| Weight | 5.0 grams |
| Diameter | 21.2 mm |
| Edge | Plain |
| OBV Designer | James Earle Fraser |
| REV Designer | James Earle Fraser |
| Quality | Business Strike |
Value and Rarity
As a highly collectible coin, the 1931-S Buffalo Nickel holds a significant value, especially in high-grade conditions. Even though the coin isn’t one of the rarest in the series, its low mintage and unique design have made it a popular choice among coin collectors. If you’re looking to buy or sell a 1931-S Buffalo Nickel, expect to pay more for coins in excellent condition (MS67 and above).
In summary, the 1931-S Buffalo Nickel is a coin with a lot of history. Its low mintage, beautiful design, and status among collectors make it a valuable piece for numismatists. Whether you’re a beginner or an experienced collector, adding a 1931-S Buffalo Nickel to your collection is a great way to own a piece of American history.
FAQ’s
What makes the 1931-S Buffalo Nickel valuable?
The 1931-S Buffalo Nickel is valuable due to its low mintage of just 1.2 million coins, making it one of the rarer Buffalo Nickels. Additionally, its iconic design by James Earle Fraser and its status as a collector’s favorite contribute to its high demand and premium price.
How can I tell if my 1931-S Buffalo Nickel is in good condition?
The condition of the coin is graded based on its appearance. A coin in excellent condition, such as MS67, has sharp details, minimal wear, and no visible marks. Higher-grade coins, especially those with vibrant toning or no scratches, are worth significantly more.
Where was the 1931-S Buffalo Nickel minted?
The 1931-S Buffalo Nickel was minted at the San Francisco Mint, which is why it has the “S” mintmark on the reverse side. San Francisco produced a low number of these coins due to a decrease in nickel production during the Great Depression.