1934 Buffalo Nickel Value Guide

Except for the reverse, the Type II Buffalo nickel replicates the Type I of 1913. If you check the coin’s reverse, the bottom portion has been redesigned on the Type II. The buffalo, formerly standing on elevated ground in Type I, is now standing on a line or a plane in Type II.

Moreover, the coin’s denomination, FIVE CENTS, previously etched on the mound, is now placed in a recessed area below the line, effectively guarding it against deterioration. The design was used from 1913 to 1938, when the Buffalo motif was no longer used.

If you want to know more about the 1934 Buffalo nickel, continue reading below!

What Is the 1934 Buffalo Nickel Made Of?

The 1934 Buffalo nickel has a face value of $0.05 or five cents. It weighs 5.00 grams, has a metal composition of 75% Copper and 25% Nickel, and measures 21.20 millimeters in diameter. It was designed by James Earle Fraser, an American sculptor who contributed significantly to several of Washington, D.C.’s most recognizable buildings.

Image Source: USA Coin Book

On the 1934 Buffalo nickel’s obverse, a Native American chief is seen with traditional feathers braided into his hair. His profile is facing right, with the word LIBERTY positioned in front of him. At the base of his neck is the year of minting 1934. Under the minting date is the initial “F” of the designer.

The reverse of the 1934 Buffalo nickel features an American Bison standing on a patch of earth. The top of the coin reads UNITED STATES OF AMERICA, with the Latin phrase E PLURIBUS UNUM, which translates to “Out of many, one,” tucked above the bison’s back. The bottom of the coin features its denomination, FIVE CENTS, with the mint mark below it. Only the coins minted in Denver bear a mint mark.

The bison on the coin’s reverse gave the 1934 Buffalo nickel its name. However, it is also sometimes called the Indian Head or, more recently, the Native American Head nickel.

1934 Buffalo Nickel Varieties

In 1934, only the Denver Mint and the Philadelphia Mint produced Buffalo nickels for the United States. These two mints produced a total of 27,693,003 Buffalo nickels.

Below is a summary of the Buffalo nickel varieties minted in 1934:

1934 D Buffalo Nickel

Image Source: PCGS

The 1934 D Buffalo nickel is the rarest Buffalo nickel of the 1930s in mint state and Gem condition, despite being rather common in circulating grades. The strike can be a big problem with this issue because many specimens have extremely weakly struck horn detail. Most of the time, the luster is nice and extremely frosty.

The Great Depression most struck the Midwest because it started there a year or two earlier than elsewhere. Nickel coinage was halted in this region from 1930 until mid-1934 because the Denver Mint served the area.

The numerous rolls stored at the production time provide enough Mint State pieces, although the quality of these coins is frequently subpar. Many have terrible strikes that impact the centers of both sides, although the majority are lustrous. The numerous contact marks on the planchets before coining are revealed by such incomplete striking.

Fuller strikes would eliminate these imperfections, but they nevertheless impact a coin’s certified grade. Gems of this issue are, therefore, somewhat rare. Most 1934 D nickels bear the Large D mint mark used on 1933 cents.

Only one or two dies may have been used to produce the Small D mintmark, which has been around since 1917. Despite being fairly well recognized, these types have not piqued the public’s interest. The same can be stated for a repunched mintmark die and a few very small doubled-die variations.

1934 P Buffalo Nickel

Image Source: PCGS

Since all 1928 to 1934 Buffalo nickels are non-variety, the 1934 Buffalo nickels are simple to find in circulated grades. However, this coin is rarer than the other 1930s Philadelphia Mint issues in mint state. They are more like the P Mints of the 1920s in terms of rarity. You can find available gems that are often well-struck with a deep frosty brilliance.

By 1934, many collectors had developed a routine of saving fresh rolls of each coin issue, and this particular issue is widely available in Mint State.

Almost always, the highest point of the bison’s coat and the center of the Indian face on these coins are not entirely struck. Both the obverse and reverse of doubled-die variants are known, although they are too minor to be of popular interest to collectors.

List Of 1934 Buffalo Nickel Errors

Coins become distinctively unique because of errors. As a result, they become far more expensive to purchase than their regular counterparts. A list of some of the more prominent 1934 Buffalo nickel errors can be found below.

Struck 10% Off-Center

The coin’s subtle blank sliver at the top front and bottom back (shown below) was caused by a 10% off-center error. The coin below, in particular, is MS 64, which sold for more than $580!

Image Source: Rob Paulsen

Struck on a Cent Planchet

Planchets for one coin denomination may sometimes be fed into a coin-stamping press containing dies for a different denomination. As a result, a coin with a design stamped on it that was meant for a different size- coin is produced. The specimen below is a 1934 Buffalo nickel struck on a cent planchet.

Image Source: Heritage Auctions

How Much Is The 1934 Buffalo Nickel Worth Today?

According to the NGC Price Guide, as of the time of writing, the melt value of the 1934 Buffalo nickel is $18.38. It has a face value of $1.00 or one dollar.

In average condition, the 1934 Buffalo nickel’s value is estimated to be between $1.71 (Philadelphia mint variants) and $2.81 (Denver mint variants). However, suppose you have these particular coins in pristine and uncirculated condition. In that case, you can make up to $55 to $74 (Philadelphia mint variant) and $91 to $140 (Denver mint variant) or more in Uncirculated (MS+) Mint Condition if you sell them on the open market.

How Does The Grading System Work?

Coin appraisers widely use a magnifying glass or a coin microscope to assess the worth and condition of coins that pass through their fingers. To determine a coin’s value, experts consider its brilliance, strike, color, preservation, attractiveness, and other characteristics.

Contact companies like the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS) if you need assistance from professionals in the coin grading industry. With their help, your coin can receive an official grade, which could greatly boost its worth.

Image Source: Austin Rare Coins & Bullion

The Sheldon Scale, a 70-point grading system that allows you to categorize your coin into the PR (Proof) or MS (Mint State) categories, is another tool these experts use to evaluate coins, aside from the abovementioned tools. A coin with a grade of 60 to 70 is considered in MS condition, meaning that any faults or imperfections need to be examined or viewed using a coin microscope.

Where To Buy Or Sell 1934 Buffalo Nickel?

The most practical way to buy or sell a 1934 Buffalo nickel is to head to online markets and auction sites. Many sellers bid for rare coins and other collectibles on websites like eBay, Etsy, Amazon, and Craigslist. However, coin and antique stores are other places to buy or sell your 1934 Buffalo nickels. Just know that it might be harder to find one there.

In relation to this, if you need suggestions on where and how to buy or sell your 1934 Buffalo nickels, you can also ask reliable coin grading service providers like the PCGS and the NGC for help.

FAQs

Is a 1934 buffalo nickel worth anything?

According to the NGC Price Guide, the melt value of the 1934 Buffalo nickel is $18.38 (as of February 2023). Its face value is $1.00 or one dollar. In average condition, the 1934 Buffalo nickel’s value is estimated to be between $1.71 (Philadelphia mint variants) and $2.81 (Denver mint variants).

However, suppose you have these particular coins in pristine and uncirculated condition. In that case, you can make up to $55 to $74 (Philadelphia mint variant) and $91 to $140 (Denver mint variant) or more in Uncirculated (MS+) Mint Condition if you sell them on the open market.

Is a 1934 buffalo nickel silver?

No, the 1934 Buffalo nickel has a metal composition of 75% Copper and 25% Nickel.

Where is the mint mark on a 1934 buffalo nickel?

You can find the mint mark for the 1934 Buffalo nickels produced from the Denver Mint under the coin’s denomination FIVE CENTS on its reverse. The coins minted from Philadelphia do not bear any mint mark.