James Earle Fraser introduced a fresh design for the U.S. nickel, and the first Buffalo Nickels entered circulation in 1913. Their production continued until 1938, when they were officially replaced by the more easily produced Jefferson Nickels.
There are two main types of Buffalo Nickels. Type 1, minted only in 1913, features a bison standing on a raised mound. Shortly after, the design was modified to Type 2, placing the bison on a flatter surface to address wear issues and improve durability.
When it comes to the 1927 Buffalo Nickel, many coins suffer from weak strikes, which keeps their market value relatively low. However, a few well-preserved examples from this year can still command high prices among collectors.
1927 Buffalo Nickel Value Chart
| Condition | 1927 (No Mint Mark) | 1927-D | 1927-S |
|---|---|---|---|
| Good | $1.53 | $3.54 | $2.44 |
| Very Good | $2.14 | $9.80 | $3.54 |
| Fine | $3.01 | $14 | $6.11 |
| Very Fine | $6.11 | $48 | $48 |
| Extra Fine | $21 | $101 | $120 |
| About Unc. | $30 | $159 | $275 |
| MS 60 | $42 | $202 | $1,102 |
| MS 63 | $98 | $487 | $2,708 |
History of the 1927 Indian Head (Buffalo) Nickel
The Buffalo Nickel, also known as the Indian Head Nickel, emerged as part of a broader effort to beautify U.S. coinage. In 1904, President Theodore Roosevelt launched an initiative to enhance the artistry of American coins. He commissioned Augustus Saint-Gaudens, one of the nation’s most renowned sculptors, to lead this transformation.
After Saint-Gaudens passed away in 1907, several other artists carried on his vision. One of them was James Earle Fraser, who initially began work on a one-cent coin design. However, he eventually shifted his focus and completed the design for a new five-cent piece in 1912, which debuted in 1913 as the Buffalo Nickel.
1927 Buffalo Nickel Mintage and Types
| Mint | Type | Mintage |
|---|---|---|
| Philadelphia | 1927 (No Mint Mark) | 37,981,000 |
| Philadelphia | 1927 Special Strike (Specimen) | 5 |
| San Francisco | 1927-S | 3,430,000 |
| Denver | 1927-D | 5,730,000 |
| Total | — | 47,141,005 |
Design and Production Challenges
The Buffalo Nickel faced issues almost immediately. Hobbs Manufacturing Company, which produced machines to detect counterfeit coins, objected to the design. They claimed the new nickels didn’t work correctly in their devices, leading to pressure on the U.S. Mint to modify the design.
Despite this, the coin was officially released on February 22, 1913, with the first pieces presented as gifts to Native American chiefs during the planned groundbreaking ceremony for the National American Indian Memorial in New York. Ironically, the monument was never built.
Problems didn’t end there. Once in circulation, the coin’s detailed high-relief design wore down quickly, especially the date and features. Even worse, the coin dies used to strike the nickels wore out three times faster than those used for other denominations.
Legacy of the Buffalo Nickel
By 1938, the Buffalo Nickel was officially discontinued and replaced by the Jefferson Nickel. Many in the U.S. Mint were relieved to see it go due to its technical issues. However, collectors were thrilled. Its iconic design, low survival rate in high grades, and rich history make it a favorite among numismatists to this day.
Features of the 1927 Indian Head (Buffalo) Nickel
The obverse of the 1927 Indian Head (Buffalo) nickels
The front side (obverse) of the 1927 Buffalo Nickel, like all coins in the series, features a portrait of a Native American chief. However, this image isn’t based on a single person. Instead, sculptor James Earle Fraser created a composite likeness, drawing inspiration from the facial features of three real-life Native American leaders:
- Two Moons, a chief of the Cheyenne tribe
- Big John Tree, a Seneca leader
- Iron Tail, a prominent figure of the Sioux nation
This thoughtful combination gave the design a distinctive and dignified look, representing a broader tribute to Native American heritage rather than a single individual.
You’ll also find the year “1927” engraved on the shoulder of the Native figure. Just below the date is a small “F” initial, which stands for Fraser, the coin’s designer. Along the right edge of the coin, the word LIBERTY is struck, completing the composition of the obverse side.
The reverse of the 1927 Indian Head (Buffalo) nickels
On the reverse side of the 1927 Buffalo Nickel, you’ll find the image of an American bison calmly standing on level ground. This iconic depiction pays homage to the wildlife of the American plains and serves as a powerful national symbol.
Just beneath the bison’s feet, the coin displays the denomination: “FIVE CENTS.” Above the animal, at the top of the coin, appear four lines of text, each carrying important national inscriptions:
- UNITED · STATES · OF · AMERICA
- E
- PLURIBUS
- UNUM
The mint mark, when present, can be found below the denomination. Coins produced in Philadelphia do not include a mint mark, leaving that area blank. However, pieces from the Denver (D) and San Francisco (S) Mints carry their respective marks in this location.
Specifications of the 1927 Buffalo Nickel
- Face Value: 5 cents (USD)
- Metal Composition: 75% copper, 25% nickel (cupronickel)
- Diameter: 0.835 inches (21.2 mm)
- Thickness: 0.0768 inches (1.95 mm)
- Weight: 0.176 ounces (5 grams)
- Edge Type: Plain (smooth)
- Shape: Round
Additional Characteristics of the 1927 Indian Head (Buffalo) Nickel
The 1927 Buffalo Nickel, also known as the Indian Head Nickel, is a five-cent coin crafted from a copper-nickel alloy—specifically, 75% copper and 25% nickel.
Each coin features a smooth, plain edge and weighs approximately 0.176 ounces (5 grams). Its diameter is 0.835 inches (21.2 mm), and the thickness measures 0.0768 inches (1.95 mm).
These physical specs were standard for nickels of that era and contributed to the coin’s durability in circulation—although design details like the date and bison horn often wore down quickly over time.
1927 Indian Head (Buffalo) Nickel Grading Guide
Grading the 1927 Buffalo Nickel is an essential step in determining both its condition and market value. Like other coins in the series, this nickel’s wear and detail loss make grading a bit challenging—especially since many circulated examples show significant smoothing over key features like the date, cheekbone, or bison horn.
Most 1927 nickels in circulated condition are relatively affordable, but well-preserved pieces—especially those with high grades—can fetch significant premiums. While collectors may attempt to grade coins on their own, it’s highly recommended to rely on professional grading services such as PCGS or NGC for rare or high-value specimens.
These services use the widely recognized Sheldon Coin Grading Scale, which ranges from Poor (P-1) to Mint State (MS-70):
| # | Grade |
|---|---|
| 1 | Basal State-1 |
| 2 | Fair |
| 3 | Very Fair |
| 4–6 | Good (G) |
| 7–10 | Very Good (VG) |
| 12–15 | Fine (F) |
| 20–30 | Very Fine (VF) |
| 40 | Extremely Fine (XF) |
| 50 | About Uncirculated (AU) |
| 60 | Mint State (MS 60) |
| 65 | Mint State (MS 65) |
| 70 | Mint State (MS 70) |
Tip: Use our detailed grading guides to help evaluate your 1927 Buffalo Nickel. Knowing the grade is crucial for estimating its real market value, especially when considering sales or insurance.
1927 Indian Head (Buffalo) Nickel Value Guides
1927 No Mint Mark nickel Value
The 1927 Buffalo Nickel without a mint mark was struck at the Philadelphia Mint, with a total mintage of 37,981,000 coins—the highest output among the three mints that year. This large production volume plays a key role in the coin’s relatively low market value today, especially in circulated condition.
Circulated Value
Most circulated 1927 nickels from Philadelphia typically range in value between:
- $0.45 to $25, depending solely on their wear and eye appeal.
Uncirculated (Mint State) Value
Uncirculated examples—graded MS (Mint State)—can command higher premiums. Here’s an approximate price guide by grade:
| Grade | Estimated Value |
|---|---|
| MS-60 | $55 |
| MS-61 | $62 |
| MS-62 | $72 |
| MS-63 | $105 |
| MS-64 | $250 |
| MS-65 | $375 |
| MS-66 | $575 |
Top Grade Value – MS-67 and Beyond
Finding a 1927 Buffalo Nickel graded MS-67 is exceptionally rare. These high-end specimens are estimated at around $3,350, but the actual auction price can be much higher:
Notable Sale: One MS-67+ example sold for an impressive $24,000 in a 2019 auction, making it one of the most valuable Philadelphia issues for this year.
1927 Buffalo nickel Value (special strikes)
In a fascinating twist of numismatic history, the Philadelphia Mint produced a mysterious group of five special strike 1927 Buffalo Nickels, unlike any others from that year.
What Makes Them Special?
These coins were struck using chromium-plated dies, giving them a uniquely sharp and mirror-like appearance. While they exhibit characteristics similar to proof coins, experts agree:
They are not official proofs — and there’s no official mint documentation confirming their purpose.
Despite their ambiguity, their quality and rarity have drawn significant attention from collectors.
Certified Examples
- The Numismatic Guaranty Corporation (NGC) has authenticated three of these five coins.
- All three were purchased by collector Jim Halperin at a coin show—solidifying their place in elite numismatic circles.
Auction Highlight
- In 2009, a 1927 Buffalo Nickel Special Strike graded SP 65 sold for an astonishing $47,150 at auction.
These special strikes are some of the rarest and most mysterious pieces in the entire Buffalo Nickel series, making them a dream find for advanced collectors.
1927 D nickel Value
The 1927-D Buffalo Nickel, minted in Denver, had a total mintage of 5,730,000 coins. Most of these nickels entered circulation, making well-worn examples fairly common, while high-grade pieces are considerably harder to find and more valuable.
Circulated Value
If your coin shows noticeable wear, you can typically expect the following market value:
- Good to Very Fine condition: $2 to $88
- About Uncirculated (AU 50–58): Typically ranges from $100 to $155
Mint State (MS) Value
Uncirculated examples are far scarcer, and their prices increase with grade:
- MS 60 to MS 64: Between $350 and $1,075
- MS 65: Around $4,750
Top-Grade Specimens
Coins graded MS 66 are exceptionally rare and highly prized by collectors:
- Estimated market value: $22,500
- Record sale: One MS 66 1927-D Buffalo Nickel sold for a staggering $46,000 at auction in 2005
These price variations highlight how grade, eye appeal, and rarity can dramatically impact the value of a 1927-D Buffalo Nickel. If you suspect you have one in high condition, it may be worth getting it professionally graded by PCGS or NGC.
1927 S nickel Value
The 1927-S Buffalo Nickel, minted at the San Francisco Mint, is one of the most sought-after coins in the Buffalo Nickel series. With a low mintage of only 3,430,000 coins, it’s the rarest regular-issue 1927 Buffalo Nickel, making it a prime target for collectors.
Circulated Value
Circulated coins are still quite collectible, with values depending on their condition:
- Good to Very Fine: Typically range from $1.25 to $115
- About Uncirculated (AU 50–58): Average between $180 and $510
Mint State (MS) Value
Coins that survived in uncirculated condition are significantly more valuable:
- MS 60: Estimated at $1,050
- MS 61: Around $1,300
- MS 62: Typically sells for $2,000
- MS 63: Valued at $2,750
- MS 64: Around $3,000
- MS 65: Jumps to a remarkable $14,500
Top-Tier Rarity
- The MS 66 1927-S Buffalo Nickel is exceptionally rare and valuable.
- Expert estimate: $90,000
- Auction record: A stunning $125,350 was realized for an MS 66 example sold in 2008
This coin’s scarcity in high grades and its historical significance make it a true gem in the Buffalo Nickel lineup. If you own a high-grade 1927-S nickel, professional grading is strongly recommended to confirm authenticity and maximize its value.
Rare 1927 Indian Head (Buffalo) Nickel Errors List
Two feathers
he Two Feathers error is a well-known and collectible mistake among Buffalo Nickel enthusiasts. This error occurs when the third feather in the Native American’s headdress is missing, usually due to over-polishing of the die during minting.
Instead of showing three feathers, these coins only display two, making them stand out and increasing their value.
Value of Two Feathers Error Coins (1927)
- 1927-D (Denver Mint): A Two Feathers error coin from Denver sold for $400 at auction in 2017
- 1927-S (San Francisco Mint): One of these rare errors fetched $2,280 in 2021, reflecting its rarity and high demand
Collectors are particularly drawn to this unintentional design omission, as it adds uniqueness and historical character to any Buffalo Nickel collection.
3 1/2 legs
One of the most recognized and intriguing mint errors in the Buffalo Nickel series is the 3 ½ Legs error, found on a limited number of nickels struck at the Denver Mint in 1927.
This rare error occurred when a mint worker attempted to polish a worn-out die, accidentally removing part of the bison’s front leg. The result? A coin where the buffalo appears to have only three and a half legs!
Value of the 1927 3 ½ Legs Error Nickel
- Circulated examples generally range from $80 to $660, depending on wear and detail.
- About Uncirculated (AU) coins are typically priced between $700 and $1,200 on eBay and at coin shows.
- Uncirculated specimens (Mint State) can command impressive prices from $2,500 to $6,000.
- The highest known auction result is for a 1927-D MS62 3 ½ Legs Buffalo Nickel, which sold for $7,475 in 2012.
This fascinating error is a must-have for advanced collectors, and its historical charm combined with scarcity makes it a valuable addition to any Buffalo Nickel set.
1927 Buffalo Nickel – Doubled Die Obverse (DDO) Error
A rare and fascinating error found on some 1927 Buffalo Nickels struck in San Francisco is the Doubled Die Obverse. This mint mistake occurs when the die used to strike the coin shifts slightly between hubbings, creating a noticeable doubling on design elements like LIBERTY, the date, or parts of the Native American profile.
These coins are highly sought after due to their eye-catching doubling and scarcity.
Value of the 1927 DDO Buffalo Nickel
- Typical examples in circulated grades can fetch a few hundred dollars.
- In higher grades, the value increases significantly. One such nickel sold for $840 at a 2019 auction, showing the strong demand among collectors for this variety.
If you come across a 1927 Buffalo Nickel with doubled features on the obverse, it’s worth a closer look—it could be one of these valuable DDO errors.
1927-D Buffalo Nickel – RPM (Repunched Mint Mark) Error
In 1927, the Denver Mint produced a small number of Buffalo Nickels featuring a Repunched Mint Mark (RPM)—a result of the “D” mint mark being struck more than once, slightly off-position each time. This creates a doubling effect visible under magnification, often labeled as 1927 D/D.
These RPM nickels are a fascinating variety for error collectors and are relatively scarce in the marketplace.
Value of the 1927-D RPM Buffalo Nickel
- Average market price for one of these coins is around $200, depending on the condition.
- At auction, they’ve brought higher figures—one example graded XF 40 (Extra Fine) sold for $335 in 2021.
Collectors appreciate this variety for its subtlety and historical minting curiosity. It’s an affordable yet significant addition to any Buffalo Nickel error collection.
Other Notable Errors on the 1927 Buffalo Nickel
In addition to the more well-known varieties like the Two Feathers, 3 ½ Legs, and RPM errors, there are several rarer or less visually dramatic mint errors that still attract collector interest. Here are a few examples:
- Curved Clipped Planchet
A noticeable curved clip on the edge of the coin.
Average Value: ~$200 per coin - Die Break + Clipped Planchet
A coin showing both a die crack and a planchet clip—two errors in one!
Average Value: ~$90 per coin - D/D/D Triple Repunched Mint Mark
A rare variation of the RPM error where the “D” mint mark was struck three times.
Average Value: ~$50–$60 per coin - Rotational Error
When the obverse and reverse designs are misaligned (rotated) from each other.
Average Value: ~$30 per coin - Reverse Lamination
Caused by impurities in the metal, resulting in peeling or flaking, usually on the reverse side.
Average Value: ~$20 per coin
Where to sell your nickel?
Now that you’re aware of your nickel’s value, you may be curious about the best places to sell it. Don’t worry: here’s a rundown of some top online marketplaces where you can conveniently sell your nickels, along with their benefits and drawbacks.
Explore the best platforms for selling nickels online (advantages and disadvantages).
FAQ about the 1927 Buffalo Nickels
1. How does the overall strike quality and die wear of the 1927-S Buffalo Nickel impact its scarcity in Mint State grades compared to the 1927-D and 1927 (P)?
The 1927-S Buffalo Nickel is well known for its weak strikes, particularly on the high points of the design, such as the buffalo’s horn and the Native American’s braid. San Francisco Mint dies were often overused and poorly maintained during this period, leading to uneven detail and shallow relief. As a result, Mint State examples with full details are rare, making the 1927-S significantly harder to find in high grades compared to the better-struck 1927-D and especially the Philadelphia issue, which had stronger, more consistent strikes.
2. What known die varieties, including repunched mint marks (RPMs) or die clashes, exist in 1927 Buffalo Nickels, and how can a collector verify them without third-party grading?
There are several known repunched mint marks (RPMs) on 1927-D and 1927-S Buffalo Nickels, as well as minor die cracks and clash marks. Collectors can identify these varieties using high-resolution magnification (10x or more), comparing the coin with reference images from trusted sources like Cherrypickers’ Guide or VarietyVista. Verification without grading services relies on precise attribution, lighting, and familiarity with die markers — including the shape and alignment of mint marks, clash lines, or doubling on date numerals.
3. To what extent do planchet preparation and die deterioration contribute to the soft details often seen on 1927-D and 1927-S Buffalo Nickels, and how do these affect grading outcomes?
In 1927, both the Denver and San Francisco Mints suffered from planchet quality issues and used overworn dies. These factors led to incomplete metal flow, especially around the central high points of the design. In grading, coins that show softness from weak striking — rather than wear — may still receive Mint State (MS) grades, but lower numerical values (e.g., MS62 or MS63). However, strike quality still impacts market value, and well-struck examples are worth a premium, even if they have the same technical grade.
4. What are the long-term market trends and auction results for high-grade 1927-S Buffalo Nickels (MS64 and above), and what factors influence their price volatility?
Auction records show that MS64+ and above 1927-S Buffalo Nickels command strong premiums, often exceeding $3,000–$7,000 depending on eye appeal. Prices have been steadily rising due to low certified populations, especially for coins with Full Horn or well-defined detail. Volatility is driven by scarcity, collector demand, and investor interest in key-date Buffalos. Grading changes, especially with crossover submissions, can also affect prices dramatically in short time frames.
5. How can the study of die progression in 1927 Buffalo Nickels help attribute specific specimens to early, middle, or late die states?
Die progression analysis — studying how a die wears over time — can reveal crack formations, clash marks, and metal flow lines. Early die states typically show sharp detail and little distortion, while later states often show die fatigue, radial flow lines, and mushy features. By comparing these characteristics, collectors can trace the die life cycle and attribute specific coins to a narrower production window, offering both historical insight and potential value if early die states are scarce or aesthetically superior.
6. What advanced preservation techniques are recommended for a high-grade 1927 Buffalo Nickel to prevent surface oxidation or toning over time?
High-grade 1927 Buffalo Nickels, particularly in copper-nickel alloy, are susceptible to environmental toning and corrosion. To preserve value:
- Store coins in archival-quality holders, such as PCGS/NGC slabs or inert Mylar flips.
- Avoid PVC-based plastic and fluctuating humidity.
- Use silica gel in storage areas and maintain temperature stability.
- Avoid direct handling — always use cotton gloves or hold coins by the rim.
- If long-term display is desired, use UV-protective cases with inert backgrounds.
7. How does the historical context of 1927 — economically and politically — influence the distribution and survival of high-grade Buffalo Nickels today?
In 1927, the U.S. was in a period of economic growth before the Great Depression, and coin production was relatively high. However, coin collecting was not yet widespread, and most Buffalo Nickels entered circulation immediately, where they wore down quickly. Few people saved coins directly from the mint, so surviving high-grade examples are likely from hoards or exceptional preservation. The lack of widespread numismatic interest at the time helps explain the scarcity of MS65+ 1927-S and 1927-D Nickels today.
