The 1937-D “3-Legged” Buffalo Nickel holds a unique place in U.S. coin history, standing out for its unusual appearance and the story behind its creation. Part of the Indian Head (Buffalo) Nickel series, this coin is known for the missing foreleg of the buffalo on its reverse side, which has made it a prized collector’s item over the decades.
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How Was the 3-Legged Nickel Created?
The missing leg on the 1937-D Nickel wasn’t an intentional design but rather the result of extensive polishing done by a Mint employee. The aggressive polishing removed most of the buffalo’s right front leg, leaving just the hoof.
The Mint had been under pressure to meet production goals, leading to overuse of the dies (the metal molds used to strike coins). This eventually caused the unique look, which collectors now refer to as the “3-Legged” Buffalo Nickel.
The Coin’s Discovery and Rise in Popularity
Once released, the 1937-D “3-Legged” Nickel entered general circulation, but it wasn’t long before collectors noticed its distinctive look. A Montana-based coin dealer named C.L. Franzen was among the first to recognize the coin’s value, marketing it as a collector’s item by the late 1930s. By the 1960s, these coins were selling for $40–$95, which translates to hundreds of dollars in today’s value due to inflation.
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What’s the 1937-D “3-Legged” Nickel Worth Today?
Collectors prize this coin, especially in higher grades (levels of quality based on wear and detail). In lower grades (G4 to G6), the coin generally sells between $200 and $500. However, demand and prices increase significantly for coins graded Extra Fine (XF) and higher, where values range from $900 to $1,500.
Pristine, near-mint pieces (AU55 to AU58) often fetch between $1,250 and $2,000. The highest-graded examples, such as MS64 or MS67, can command prices of $5,000 to $90,000. The record sale for a top-quality 1937-D “3-Legged” Nickel hit just under $100,000 in a 2021 auction, although prices have softened slightly since then.
Design Highlights of the 1937 Buffalo Nickel
- Obverse (Front): The obverse shows the profile of a Native American, inspired by three tribal chiefs. This composite design by sculptor James Earle Fraser includes two feathers in the hair and a braided hairstyle.
- Reverse (Back): The reverse features a buffalo, inspired by a live animal named Black Diamond, a popular attraction at the New York Central Park Zoo. The 1937-D coin stands out with its missing foreleg and faint detailing on the rear right leg due to rust and die wear.
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Why the 1937-D “3-Legged” Nickel Matters to Collectors
Aside from its unique appearance, this coin holds historical value as a rare error from the Denver Mint’s production process. Only about 20,000 examples were likely made, making it one of the most desired Buffalo Nickels among collectors. Its scarcity and backstory have ensured its lasting appeal and value.
In Summary
The 1937-D “3-Legged” Buffalo Nickel is more than a collector’s item—it’s a piece of U.S. history. Whether you’re a seasoned collector or new to numismatics, this coin is an intriguing artifact from an era when production demands led to unexpected, yet fascinating, results.