1916 5C Buffalo Nickel (Proof)
The 1916 5C Proof Buffalo Nickel is a highly sought-after coin among numismatists due to its rarity and historical significance. Struck at the Philadelphia Mint, this particular proof coin is notable for being part of the early series of Buffalo Nickels, which began in 1913. The design, created by sculptor James Earle Fraser, features a Native American profile on the obverse and an American Bison on the reverse.
Rarity and Mintage
The 1916 Proof Buffalo Nickel has an exceptionally low mintage, with only 600 proofs struck. This limited production makes it one of the rarer proof nickels in the series. According to the Professional Coin Grading Service (PCGS) Coin Facts, this coin is assigned the PCGS #3991, indicating its specific cataloging among numismatists.
Value and Market Performance
The rarity and historical allure of the 1916 Proof Buffalo Nickel contribute to its significant value in the market. Collectors regularly seek out this proof for its beauty and scarcity. Recent sales have shown strong performance, with auction results frequently reaching into the high four figures. For instance, examples graded PR65 by PCGS have achieved prices around $10,000 to $15,000 at major numismatic auctions, while coins in slightly higher grades, such as PR66 and above, can exceed $20,000 depending on the quality and appeal. Such prices underline the demand and premium associated with this distinguished proof coin.
Historical and Numismatic
Significance The historical context of the 1916 Proof Buffalo Nickel adds to its desirability. The Buffalo Nickel series, minted from 1913 to 1938, represents a departure from the traditional motifs that dominated U.S. coinage up to that point. It reflects an era in American history that places emphasis on Native American imagery and the American frontier. From a numismatic perspective, the 1916 proof issue is a testament to the minting techniques and artistic endeavors of the early 20th century. The intricate design and the outstanding craftsmanship involved in its production make it a pivotal piece for serious collectors.
Conclusion
In summary, the 1916 5C Proof Buffalo Nickel stands out for its rarity, with a limited mintage of just 600 coins, adding to its allure among collectors. With high market values and significant historical relevance, this proof coin remains an exceptional piece in the realm of numismatics. Its PCGS #3991 further cements its status, and recent auction results highlight its continuing desirability and appreciation in value. Collectors and investors alike treasure this coin for both its artistic contribution and its embodiment of early 20th-century American culture.
