1928 5C Buffalo Nickel
The Buffalo Nickel, also known as the Indian Head Nickel, was designed by James Earle Fraser. First introduced in 1913, this iconic design features a Native American portrait on the obverse and an American bison on the reverse. By 1928, the design had established itself as a distinctive representation of American heritage. The 1928 5C, struck at the Philadelphia Mint, came amidst the later years of this design's production, bridging the gap between the earlier years and the final phase before the introduction of the Jefferson Nickel in 1938.
Mintage and Specifications
The 1928 Buffalo Nickel was produced solely at the Philadelphia Mint with a mintage of 23,411,000 coins. Despite the relatively moderate mintage number for the time, many coins have not survived in high grades, adding to the challenge for collectors seeking well-preserved specimens.
Mint: Philadelphia
Mintage: 23,411,000
PCGS Number: 3963
Rarity and Market Value
The rarity of the 1928 Buffalo Nickel varies significantly based on its condition. In circulated grades, the coin is relatively common, making it accessible for collectors. However, in higher uncirculated grades, such as Mint State (MS) 65 or better, the 1928 Buffalo Nickel is markedly scarce. In MS-67, the coin becomes exceptionally rare, increasing its desirability and market value significantly.
Current Market Trends and Notable Sales
For collectors looking at recent sales, high-grade examples of the 1928 Buffalo Nickel have been sold for impressive figures at major coin auctions. For instance, MS-66 graded examples can fetch prices upwards of $1,000, while MS-67 coins have reached prices as high as $8,000 or more, depending on the market's demand. Proof-like finishes and vibrant toning can further enhance their value. Observing trends from recent auction results: - A 1928 5C in MS-66 was sold for around $1,200, exemplifying its strong presence in high-grade collections. - Rare coins in MS-67 have surmounted the $7,000 threshold during heated auctions, showcasing the fervent competition to secure immaculate examples.
Collecting the 1928 Buffalo Nickel
For numismatists, the allure of the 1928 5C extends beyond financial valuation. It offers a window into early 20th-century American culture and artistry. Collectors often seek this coin to complete Buffalo Nickel series or to augment historical collections with a piece reflecting American numismatic artistry. The challenge lies in locating examples with sharp strikes and minimal wear, as the intricate design often results in uneven wear over time. Collecting these nickels can be considered both a pursuit of history and a treasure hunt for the perfect specimen. In conclusion, while the 1928 Buffalo Nickel may not be the rarest in the series, its value lies in its nuanced place within numismatic history and the pursuit of quality coins by collectors. Its cultural and historical significance, combined with its scarcity in superior conditions, secure its place as a beloved addition to any serious numismatic collection.
