The 1937 Indian Head Nickel is a fascinating piece of American numismatic history. This coin, also known as the Buffalo Nickel, is one of the most iconic and sought-after coins in the world of coin collecting. In this comprehensive guide, we will delve into the history, significance, and value of the 1937 Indian Head Nickel, providing you with all the information you need to understand and appreciate this remarkable coin.
The History of the Indian Head Nickel
The Design and Creation
The Indian Head Nickel was first introduced in 1913, designed by James Earle Fraser. The coin features a Native American chief on the obverse and a buffalo on the reverse. The design was chosen to honor the Native American population and the American buffalo, which was an important symbol of the American West.
The 1937 Indian Head Nickel
The 1937 Indian Head Nickel is a specific year of the coin, and it holds a special significance in the numismatic world. This particular year is notable for a few reasons:
1. Production Numbers: The 1937 Indian Head Nickel was produced in relatively low numbers compared to other years. This scarcity contributes to its desirability among collectors.
2. Mint Marks: The 1937 Indian Head Nickel was minted at both the Philadelphia and Denver mints. The coin can be found with either a “P” or a “D” mint mark, which adds to its collectible value.
3. Condition: The 1937 Indian Head Nickel is often found in excellent condition, making it highly sought after by collectors.
The Significance of the 1937 Indian Head Nickel
Symbolism and Cultural Impact
The Indian Head Nickel carries significant cultural and historical symbolism. The design, featuring a Native American chief, was intended to honor the indigenous population of the United States. The buffalo on the reverse represents the American West and the importance of the buffalo to Native American cultures.
Numismatic Value
The 1937 Indian Head Nickel holds great value in the numismatic world. Its scarcity, combined with its historical significance and aesthetic appeal, makes it a highly desirable coin for collectors.
Investment Potential
Investing in the 1937 Indian Head Nickel can be a lucrative venture. The coin’s value has increased over time, and it continues to be a popular choice among coin investors. The key to successful investment is to purchase the coin in excellent condition and from a reputable source.
How to Identify a Genuine 1937 Indian Head Nickel
Visual Inspection
To identify a genuine 1937 Indian Head Nickel, you should carefully examine the coin’s design and condition. Look for the following features:
1. Obverse: The obverse should feature a Native American chief with a feather headdress. The design should be crisp and well-defined.
2. Reverse: The reverse should feature a buffalo standing on a rock. The design should be clear and detailed.
3. Mint Marks: The coin should have either a “P” or a “D” mint mark, indicating that it was minted in Philadelphia or Denver, respectively.
Professional Authentication
If you are unsure about the authenticity of a 1937 Indian Head Nickel, it is recommended to have it professionally authenticated. This can be done through a reputable coin grading service such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
The Value of the 1937 Indian Head Nickel
Factors Affecting Value
The value of a 1937 Indian Head Nickel can vary greatly depending on several factors:
1. Condition: The better the condition of the coin, the higher its value. Coins in mint state (MS-70) are particularly valuable.
2. Rarity: The 1937 Indian Head Nickel is relatively rare, which contributes to its value.
3. Mint Marks: Coins with the “D” mint mark are generally more valuable than those with the “P” mint mark.
4. Grading: The coin’s grade, as determined by a professional grading service, can significantly impact its value.
Pricing Examples
Here are some examples of the value of a 1937 Indian Head Nickel based on its condition and mint mark:
– Uncirculated (MS-65): $500 – $800
– Mint State (MS-68): $1,000 – $1,500
– Mint State (MS-69): $1,500 – $2,500
– Proof (PF-65): $2,000 – $3,000
– Proof (PF-68): $3,000 – $5,000
Where to Buy a 1937 Indian Head Nickel
Online Marketplaces
There are numerous online marketplaces where you can purchase a 1937 Indian Head Nickel. Some popular options include:
1. eBay: eBay is a popular platform for buying and selling coins. You can find a wide range of 1937 Indian Head Nickels, but be sure to buy from reputable sellers.
2. CoinDealer.com: CoinDealer.com is a marketplace dedicated to coin collecting. You can find a variety of 1937 Indian Head Nickels from professional dealers.
3. CoinWorld: CoinWorld is another online marketplace for coin collectors. You can find a range of 1937 Indian Head Nickels, including rare and high-grade examples.
Local Coin Shops
If you prefer to purchase a 1937 Indian Head Nickel in person, you can visit local coin shops. These shops often have a wide selection of coins and can provide expert advice on your purchase.
Auctions
Coin auctions are another option for purchasing a 1937 Indian Head Nickel. Auctions can be a great way to find rare and high-grade coins, but they can also be competitive and expensive.
How to Care for Your 1937 Indian Head Nickel
Storage
To ensure the longevity of your 1937 Indian Head Nickel, proper storage is essential. Store the coin in a protective case or holder to prevent scratches and damage. You can also store the coin in a safe or a secure vault.
Cleaning
While it may be tempting to clean your 1937 Indian Head Nickel, it is generally not recommended. Cleaning can damage the coin’s surface and reduce its value. If the coin is dirty, consider using a soft brush or a cotton swab with distilled water to gently clean the surface.
Handling
Handle your 1937 Indian Head Nickel with care to prevent scratches or damage. Avoid touching the coin with your bare hands, as oils and dirt from your skin can transfer to the coin’s surface.
The Future of the 1937 Indian Head Nickel
Collecting Trends
The 1937 Indian Head Nickel is a popular choice among coin collectors, and its popularity shows no signs of waning. As the coin’s value continues to increase, it is likely to remain a sought-after item in the numismatic world.
Investment Potential
The 1937 Indian Head Nickel’s investment potential is strong. As the coin’s value has increased over time, it is likely to continue to appreciate in value. However, as with any investment, it is important to do your research and purchase the coin from a reputable source.
Conclusion
The 1937 Indian Head Nickel is a remarkable coin with a rich history and significant cultural and numismatic value. Whether you are a seasoned coin collector or a beginner looking to invest in a valuable piece of American history, the 1937 Indian Head Nickel is an excellent choice. By understanding the coin’s history, significance, and value, you can make informed decisions about purchasing and caring for your 1937 Indian Head Nickel.