The 1937 Indian Head Buffalo Nickel is a highly sought-after coin among numismatists and collectors alike. This unique piece of American history holds significant value both for its historical context and its aesthetic appeal. In this comprehensive guide, we will delve into the history, significance, and collectibility of the 1937 Indian Head Buffalo Nickel, providing a detailed analysis that will help you understand why this coin is so highly regarded.
Historical Context: The Buffalo Nickel Series
The Indian Head Buffalo Nickel series was minted from 1913 to 1938, with the 1937 issue being one of the most notable. The series was designed by James Earle Fraser, an American sculptor, and features an image of a Native American on the obverse and a buffalo on the reverse. The coin was initially introduced to replace the Liberty Nickel, which had been in circulation since 1883.
The Buffalo Nickel series is significant for several reasons. Firstly, it was one of the first coins to feature a Native American on its obverse, reflecting the growing appreciation for Native American culture and history in the early 20th century. Secondly, the design of the coin is highly recognizable and aesthetically pleasing, making it a popular choice among collectors.
The 1937 Indian Head Buffalo Nickel: A Closer Look
The 1937 Indian Head Buffalo Nickel is particularly notable for its rarity and the unique circumstances surrounding its minting. The coin was minted in Philadelphia, with a total of 1,184,000 pieces produced. However, due to the Great Depression and the subsequent economic hardships, many of these coins were not circulated and remained in the mint’s vaults.
Design and Aesthetics
The design of the 1937 Indian Head Buffalo Nickel is a classic example of the Buffalo Nickel series. The obverse features a profile of a Native American, often referred to as “Big Head” due to the large size of the head. The Native American is depicted with long hair and a feathered headdress, reflecting the traditional attire of Native American tribes. The reverse of the coin features a buffalo, or bison, standing proudly with its head lowered. The design is simple yet powerful, capturing the essence of the American frontier.
Minting and Circulation
The 1937 Indian Head Buffalo Nickel was minted in Philadelphia, with a total of 1,184,000 pieces produced. However, due to the economic conditions of the time, many of these coins were not circulated and remained in the mint’s vaults. This rarity, combined with the coin’s aesthetic appeal, has contributed to its high value among collectors.
Rarity and Value
The 1937 Indian Head Buffalo Nickel is considered one of the rarest coins in the Buffalo Nickel series. Its rarity is due to several factors, including the economic conditions of the time and the fact that many of the coins were not circulated. As a result, the 1937 Indian Head Buffalo Nickel is highly sought after by collectors and can command a high price on the open market.
The Significance of the 1937 Indian Head Buffalo Nickel
The 1937 Indian Head Buffalo Nickel holds significant historical and cultural value. Its design reflects the growing appreciation for Native American culture and history in the early 20th century, while its rarity and aesthetic appeal make it a popular choice among collectors.
Cultural Significance
The 1937 Indian Head Buffalo Nickel is significant for its cultural representation of Native Americans. The design features a Native American on the obverse, reflecting the growing appreciation for Native American culture and history in the early 20th century. The coin’s design is a powerful symbol of the American frontier and the Native American people who inhabited it.
Historical Significance
The 1937 Indian Head Buffalo Nickel is also significant for its historical context. The coin was minted during the Great Depression, a period of economic hardship and uncertainty. The fact that many of these coins were not circulated and remained in the mint’s vaults reflects the economic conditions of the time.
Collecting the 1937 Indian Head Buffalo Nickel
The 1937 Indian Head Buffalo Nickel is a highly sought-after coin among collectors. Its rarity, aesthetic appeal, and historical significance make it a popular choice for both beginners and experienced collectors alike.
Tips for Collecting
If you are interested in collecting the 1937 Indian Head Buffalo Nickel, here are some tips to help you get started:
1. Research: Before you start collecting, it’s important to do your research. Learn about the history, significance, and value of the coin. This will help you make informed decisions about your collection and avoid common pitfalls.
2. Condition: The condition of the coin is a critical factor in determining its value. Look for coins that are in mint condition, with no signs of wear or damage. The 1937 Indian Head Buffalo Nickel is particularly valuable in mint condition.
3. Grading: The grading of the coin is another important factor to consider. The coin’s grade will determine its value and desirability among collectors. The 1937 Indian Head Buffalo Nickel is typically graded on a scale of 1 to 7, with 1 being the lowest and 7 being the highest.
4. Authenticity: It’s important to ensure that the coin you are purchasing is authentic. Look for coins that come with a certificate of authenticity from a reputable grading service. This will help you avoid counterfeit coins and ensure that you are getting a genuine piece of history.
5. Storage: Proper storage is essential for preserving the value of your coin collection. Store your coins in a cool, dry place, away from direct sunlight and heat sources. Use coin holders or albums to protect the coins from damage and wear.
Where to Find the 1937 Indian Head Buffalo Nickel
If you are interested in purchasing the 1937 Indian Head Buffalo Nickel, there are several places where you can find it:
1. Coin Dealers: Coin dealers specialize in the buying and selling of coins and can be a good source for finding the 1937 Indian Head Buffalo Nickel. Look for dealers who specialize in American coins and have a good reputation in the industry.
2. Auction Houses: Auction houses often sell rare and valuable coins, including the 1937 Indian Head Buffalo Nickel. Attending an auction can be an exciting way to find a coin, but it’s important to do your research and understand the auction process before you start bidding.
3. Online Marketplaces: Online marketplaces such as eBay, CoinDealer, and CoinWorld can be a good source for finding the 1937 Indian Head Buffalo Nickel. However, it’s important to be cautious when purchasing coins online and to ensure that you are buying from a reputable seller.
4. Coin Shows: Coin shows are events where coin dealers and collectors gather to buy, sell, and trade coins. Attending a coin show can be a great way to find the 1937 Indian Head Buffalo Nickel and connect with other collectors.
Conclusion
The 1937 Indian Head Buffalo Nickel is a highly sought-after coin that holds significant historical, cultural, and aesthetic value. Its design reflects the growing appreciation for Native American culture and history in the early 20th century, while its rarity and aesthetic appeal make it a popular choice among collectors. If you are interested in collecting the 1937 Indian Head Buffalo Nickel, it’s important to do your research, understand the coin’s value, and purchase from a reputable source. With proper care and storage, your 1937 Indian Head Buffalo Nickel can be a valuable addition to your coin collection and a cherished piece of American history.