Lot 064Coin values

1937-D (3-Legged) Buffalo Nickel

Q: How much is a 1937-D (3-Legged) Buffalo Nickel worth?

Lustre's editorial estimate (Oct 2026) is $520–$1,650 for circulated examples (G-4 to EF-40) and $9,000–$13,000 in MS-65. These are estimates, not an appraisal or market data. A coin in the grade you hold may sell for less at a dealer, who needs a margin.

DENVER (D) · 75% COPPER, 25% NICKEL · VARIETY

The answer

Worth about $520⁠–⁠$1,650 circulated and $9,000⁠–⁠$13,000 in MS-65.

The 1937-D (3-Legged) Buffalo Nickel is one of the major rarities of the series from the Denver Mint, with a mintage that is included in a larger issue. In circulated grades (G-4 to EF-40) our estimate is $520⁠–⁠$1,650, and a well-preserved MS-65 example is estimated at $9,000⁠–⁠$13,000. Because this is a key date, condition and authenticity matter far more than metal content: have any high-value coin graded by a recognised service.

A famous error: a die polished too deeply removed the buffalo's front right leg.

Included in the 1937-D mintage of 17,826,000.

1937-D (3-Legged)Denver (D)

Catalogue medallion. We do not yet hold a licensed photograph of this exact date and mint, so none is shown rather than one with a different date.

Buffalo nickel obverse: Native American portrait facing right — Design reference 1913 Type 1 Buffalo nickel, National Numismatic Collection and 1913 Type 2 (flat line) Buffalo nickel, National Numismatic Collection. The date on this photograph is not this issue's date. Public domain, credit US Mint (coin), National Numismatic Collection (photograph by Jaclyn Nash), via Wikimedia Commons.

Buffalo nickel Type 2 reverse: bison standing on a flat ground line — Design reference 1913 Type 1 Buffalo nickel, National Numismatic Collection and 1913 Type 2 (flat line) Buffalo nickel, National Numismatic Collection. The date on this photograph is not this issue's date. Public domain, credit US Mint (coin), National Numismatic Collection (photograph by Jaclyn Nash), via Wikimedia Commons.

Mint: Denver (D)
Composition: 75% copper, 25% nickel
Mintage: In larger issue
Weight and size: 5 g · 21.2 mm
Designer: James Earle Fraser

RarityMajor rarity

PlentifulRare

No separate mintage is recorded for this date, so its place on the scale follows its editorial rarity tier.

Grade & value

Circulated$520–$1,650

Melt, live$0.07

Estimated value by grade for the 1937-D (3-Legged) Buffalo Nickel. Lustre editorial estimate, Oct 2026.
Grade	Estimate
G-4Good	$520–$680
VG-8Very Good	$690–$910
F-12Fine	$770–$1,050
VF-20Very Fine	$820–$1,200
EF-40Extremely Fine	$1,150–$1,650
AU-50About Uncirculated	$1,650–$2,350
AU-58Choice About Uncirculated	$2,150–$3,050
MS-60Mint State 60	$2,600–$3,800
MS-63Choice Mint State	$3,700–$5,250
MS-65Gem Mint State	$9,000–$13,000

Melt value (copper)$0.07

75% copper, 25% nickel at spot prices. Reference prices, not live

Scan your coin

Estimates. Grade values are Lustre editorial estimate, Oct 2026, based on spot prices near $61 per ounce for silver. They are not market data, an appraisal or an offer. Rows marked at melt follow the metal price.

Value ladder

Varieties to look for

Missing leg

The bison has only three legs because the front right leg was polished away from the die.

Date and mint mark

The date sits on a raised area and wears away first. Dateless coins sell for a few dollars, and the mint mark is on the reverse below FIVE CENTS.

Type 1 and Type 2

In 1913 the reverse changed from a raised mound (Type 1) to a flat line (Type 2). 1913-S Type 2 is a key date.

Questions

About the 1937-D (3-Legged) Buffalo

How much is a 1937-D (3-Legged) Buffalo Nickel worth?

Lustre's editorial estimate (Oct 2026) is $520⁠–⁠$1,650 for circulated examples (G-4 to EF-40) and $9,000⁠–⁠$13,000 in MS-65. These are estimates, not an appraisal or market data. A coin in the grade you hold may sell for less at a dealer, who needs a margin.

What is a 1937-D (3-Legged) Buffalo Nickel made of?

It is 75% copper, 25% nickel and weighs 5 g. At today's metal prices the metal is worth a few cents, so any value comes from collector demand.

How many 1937-D (3-Legged) Buffalo Nickels were minted?

Included in the 1937-D mintage of 17,826,000.

Where is the mint mark on a Buffalo Nickel?

On the reverse, below the words FIVE CENTS. Philadelphia coins have no mint mark.

Is my 1937-D (3-Legged) Buffalo Nickel rare?

Yes. It is one of the major rarities of the series. Check the variety notes on this page, look at the date and mint mark under magnification and consider professional grading before selling.

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