The 1937-D 3-Legged Buffalo Nickel: A Rare and Valuable Error Coin

The 1937-D 3-Legged Buffalo Nickel is one of the most famous mint errors in U.S. coinage history. This rare variety resulted from excessive die polishing at the Denver Mint, which caused the front leg of the bison on the reverse to disappear. Today, this highly collectible Buffalo Nickel is sought after by numismatists and commands high auction prices, even in lower grades.

This guide will explore how the 1937-D 3-Legged Nickel was created, why it is so valuable, its auction history, and how to identify an authentic example.

The Buffalo Nickel: An American Icon

A Design Rooted in American Heritage

The Buffalo Nickel, minted from 1913 to 1938, is one of the most distinctive and beloved U.S. coins. Designed by James Earle Fraser, it was meant to honor the American frontier and Native American culture. The coin’s design features:

• Obverse: A strong portrait of a Native American chief, which is believed to be a composite of three tribal leaders.

• Reverse: A powerful American bison (buffalo), modeled after Black Diamond, a well-known buffalo from the Central Park Zoo in New York.

Due to its bold relief and intricate design, the Buffalo Nickel was prone to wear and minting issues, leading to famous varieties such as the 1937-D 3-Legged Nickel.

How the 1937-D 3-Legged Buffalo Nickel Was Created

A Minting Error Caused by Over-Polishing

The 1937-D 3-Legged Buffalo Nickel was not an intentional design, but rather the result of overzealous die polishing at the Denver Mint.

• Mint workers removed imperfections from worn dies by polishing them down.

• One die had excessive polishing, which completely erased the front leg of the buffalo, leaving only the hoof and part of the shoulder visible.

• The error went unnoticed at first, and these coins were released into circulation before the mistake was caught.

This unintentional modification created one of the most famous error coins in U.S. history, making the 1937-D one of the most recognizable and sought-after Buffalo Nickel varieties.

How Many 1937-D 3-Legged Buffalo Nickels Exist?

The exact number of surviving examples is unknown, but collectors believe that thousands of 1937-D 3-Legged Nickels were released into circulation before the mint realized the error.

• Many of these coins saw heavy use, making high-grade specimens extremely rare.

• Uncirculated or near-mint examples are highly valuable due to their scarcity.

• As awareness of the error spread, more collectors began saving these nickels, further increasing their demand.

Because of its high visibility as an error coin, the 1937-D 3-Legged Nickel remains one of the most desirable Buffalo Nickels among collectors today.

How Much Is a 1937-D 3-Legged Buffalo Nickel Worth?

The value of the 1937-D 3-Legged Buffalo Nickel depends on condition, color, and certification. Even lower-grade examples command strong prices, while uncirculated specimens are worth five or six figures.

Recent Auction Sales

• $99,875 – A PCGS MS66+ example sold for nearly $100,000 in a high-profile auction in 2021, making it one of the finest known specimens.

• $60,000 – A PCGS MS65+ coin fetched $60,000, showcasing continued collector demand.

• $10,000+ – Even mid-range AU (About Uncirculated) examples sell for five figures.

Estimated Value by Condition

This strong market demand makes the 1937-D 3-Legged Buffalo Nickel one of the most valuable Buffalo Nickels ever produced.

How to Identify a Genuine 1937-D 3-Legged Buffalo Nickel

Due to its popularity and high value, many counterfeits exist. Some fakes are altered 1937-D nickels, while others are completely fabricated counterfeits.

Key Authentication Tips:

Check the Missing Leg

• The front leg should be completely missing, leaving only a faint trace of where it once was.

• The rear leg should remain intact, and the hooves should be clearly visible.

Look for a “Mushy” Appearance on the Reverse

• Genuine 3-Legged Nickels often have soft or weak details around the belly and front of the buffalo due to die over-polishing.

Examine the Mint Mark

• The “D” mintmark (Denver Mint) should be sharp and well-defined, located below “FIVE CENTS.”

Get Professional Certification

• To confirm authenticity, submit your coin to PCGS or NGC, the leading third-party grading services.

Having a certified, graded coin guarantees authenticity and maximum market value, ensuring confidence in buying or selling.

Other Rare and Valuable Buffalo Nickels

While the 1937-D 3-Legged Nickel is a standout error, other Buffalo Nickels also command strong prices:

1918/7-D Buffalo Nickel – up to $400,000

• The rarest Buffalo Nickel with a clear overdate error, created when a 1917 die was repunched with the 1918 date.

1926-S Buffalo Nickel – $100,000+

• The lowest-mintage regular issue Buffalo Nickel, with just 970,000 struck.

1913-S Type 2 Buffalo Nickel – $40,000+

• A San Francisco Mint key date, highly sought after by collectors.

Each of these rare Buffalo Nickels holds historic and collectible value, making them important pieces for any numismatic collection.

The Legacy of the 1937-D 3-Legged Buffalo Nickel

The 1937-D 3-Legged Buffalo Nickel is one of the most famous and valuable mint errors in U.S. coin history. Its unintentional design, rarity, and strong collector demand ensure its place as a must-have key date for serious numismatists.

If you think you own a 1937-D 3-Legged Nickel, be sure to examine the missing leg and get it professionally authenticated. Whether found in an old collection or acquired at auction, this coin remains a treasured piece of U.S. numismatic history—one that continues to captivate collectors worldwide.