1917 5C Buffalo Nickel
The 1917 Buffalo Nickel, also known as the 1917 5C (Regular Strike), holds a distinctive place in numismatic circles due to its historical significance and collectible value. Minted during a transformative period in American history, this coin gains additional interest not only from its design but also from its circulation context during World War I.
Mintage and Mint Details
The 1917 Buffalo Nickel was produced at the Philadelphia Mint, with a total mintage of 51,424,019 coins. Identified with the PCGS number 3938, this plentiful mintage makes the coin relatively accessible for collectors today, yet certain high-grade examples remain scarce, attracting considerable attention and higher values at auctions.
Design and Historical Context
The Buffalo Nickel was designed by James Earle Fraser, embodying a rich sense of Americana that appeals deeply to collectors. The obverse features a determined Native American portrait, believed to be a composite of three chiefs: Iron Tail, Big Tree, and Two Moons. The reverse showcases an American bison, often referred to as a buffalo, modeled after Black Diamond, a bison living in the New York Central Park Zoo at the time. Introduced in 1913, this design reflected President Theodore Roosevelt's desire to beautify American coinage and highlight the nation's westward expansion and indigenous cultures. For the 1917 strike, the context of World War I added layers of intrigue and historical value, given the economic and societal shifts of that time.
Rarity and Market Value
While the 1917 Buffalo Nickel is not among the rarest issues in the series, its value is enhanced significantly based on condition and grading. Lower-grade coins in circulated condition fetch modest prices in the range of $2 to $15. However, uncirculated mint state examples can command significant premiums.
- Mint State Values: Prices greatly increase in mint state conditions, particularly in MS-65 and above. A coin graded MS-65 can sell from $600 to $1,200, reflecting its desirability. Coins with higher grades, like MS-67, have been known to fetch well over $10,000, with specific sales crossing the $20,000 mark.
Current Market and Sales
In auction environments, sales data reflects the coin's ongoing demand. For example, recent sales have seen MS-66 and MS-67 coins achieving impressive prices. Factors influencing these prices include the coin's luster, strike sharpness, and eye appeal. Noteworthy sales have included MS-67 specimens in top-tier auction houses reaching prices as high as $25,000. These values represent the coin's desirability, especially among collectors seeking high-quality examples of early 20th-century American numismatics.
Collecting and Investing
For collectors, the 1917 Buffalo Nickel offers a blend of historical significance and aesthetic appeal, making it a popular choice in both complete and type collections. Assembling a set of Buffalo Nickels, whether by date or by quality, remains a cherished pursuit in the numismatic community. Investors also watch these coins due to their robust market presence and the enduring popularity of early 20th-century American coins. High-grade examples of the 1917 Nickel serve as both a historical artifact and a wise investment, with the potential for appreciation as demand continues.
Conclusion
The 1917 Buffalo Nickel encapsulates a piece of American heritage, blending artistry with a period marked by both advancements and challenges. Its availability in lower grades allows for entry-level collecting, while high-grade examples provide opportunities for both sophisticated collectors and investors. Understanding its market dynamics and the nuances of its valuation enhances its role as a tangible link to history, making it an essential component of any serious numismatist's collection.
