The 1937 Nickel Indian Head is a classic coin that has captivated numismatists and collectors alike for decades. This coin, also known as the “Buffalo Nickel,” is not only a significant piece of American numismatic history but also a fascinating artifact of the Great Depression era. This article will delve into the history, significance, and collecting of the 1937 Nickel Indian Head, providing a comprehensive guide for enthusiasts and collectors.
History of the 1937 Nickel Indian Head
The 1937 Nickel Indian Head was minted during a period of significant economic and social change in the United States. The Great Depression had a profound impact on the country, leading to widespread unemployment and financial hardship. In response to these challenges, the U.S. Mint introduced the Indian Head Nickel in 1913, featuring a Native American design on the obverse and a buffalo on the reverse. This coin was intended to replace the previous design, the Liberty Nickel, which had been in circulation since 1883.
The Indian Head Nickel was designed by James Earle Fraser, a renowned sculptor and medalist. Fraser was inspired to create the design after observing a Native American chief named Iron Tail at the 1893 World’s Columbian Exposition in Chicago. The obverse of the coin features a Native American profile, while the reverse depicts a buffalo standing proudly. The coin was initially minted in 1913 and continued to be produced until 1938, with the 1937 issue being one of the most sought-after and valuable examples.
Significance of the 1937 Nickel Indian Head
The 1937 Nickel Indian Head holds significant historical and cultural importance. The coin’s design reflects the romanticized image of Native Americans that was prevalent in the early 20th century. The buffalo on the reverse is a symbol of the American West and the frontier spirit, while the Native American profile on the obverse represents the indigenous peoples who were displaced and marginalized by European settlers.
The 1937 Nickel Indian Head is also significant for its role in the Great Depression. During this period, the U.S. Mint was under pressure to produce coins that would help stimulate the economy and provide employment for mint workers. The Indian Head Nickel was one of the coins that helped to meet this demand, and its production contributed to the economic recovery of the country.
Collecting the 1937 Nickel Indian Head
Collecting the 1937 Nickel Indian Head can be a rewarding hobby for numismatists and collectors. The coin’s historical significance, unique design, and limited mintage make it a desirable addition to any collection. Here are some tips for collecting the 1937 Nickel Indian Head:
Understanding the Coin’s Grading
The condition of a coin is a critical factor in its value. The 1937 Nickel Indian Head is graded on a scale of 1 to 70, with 70 being the highest grade. The coin’s grade is determined by its overall appearance, including its luster, surface condition, and wear. Collectors should be familiar with the grading scale and understand the factors that contribute to a coin’s value.
Identifying Key Dates and Mint Marks
The 1937 Nickel Indian Head was minted at three different facilities: the Philadelphia Mint, the Denver Mint, and the San Francisco Mint. Each mint produced coins with unique mint marks, which can affect the coin’s value. Collectors should be able to identify the mint marks on the coin and understand their significance.
Assessing the Coin’s Rarity
The 1937 Nickel Indian Head is relatively rare, with only a limited number of coins minted. The exact mintage figures are not known, but it is estimated that fewer than 10 million coins were produced. Collectors should be aware of the coin’s rarity and look for opportunities to acquire high-quality examples.
Building a Collection
Building a collection of 1937 Nickel Indian Heads can be a challenging but rewarding endeavor. Collectors should start by acquiring coins in different grades and mint marks to create a well-rounded collection. They should also be prepared to invest time and effort in researching the coin’s history and market trends.
Preserving and Displaying the Coin
Once a collector has acquired a 1937 Nickel Indian Head, it is essential to preserve and display the coin properly. Coins should be stored in protective holders or slabs to prevent damage and maintain their condition. Collectors should also consider displaying their coins in a way that showcases their beauty and historical significance.
The 1937 Nickel Indian Head in Popular Culture
The 1937 Nickel Indian Head has made appearances in popular culture, reflecting its enduring appeal and significance. The coin has been featured in movies, television shows, and video games, often as a symbol of the American West or a nod to the Great Depression era. Some notable examples include:
The Lone Ranger
The Lone Ranger, a popular television series and film franchise, has featured the 1937 Nickel Indian Head in several episodes and movies. The coin is often depicted as a symbol of the American frontier and the spirit of adventure that characterized the era.
The Great Depression
The 1937 Nickel Indian Head has been used to represent the economic hardship and social upheaval of the Great Depression. In various films and television shows, the coin is depicted as a symbol of the struggles faced by ordinary Americans during this period.
Video Games
The 1937 Nickel Indian Head has also made appearances in video games, often as a collectible item or a reference to the coin’s historical significance. Some games, such as “Red Dead Redemption 2,” feature the coin as a nod to the American West and the frontier spirit.
The Future of the 1937 Nickel Indian Head
The 1937 Nickel Indian Head continues to be a popular and sought-after coin among collectors and enthusiasts. As the coin’s historical significance and cultural importance become increasingly recognized, its value is likely to remain strong. Collectors should be prepared to invest time and effort in researching the coin’s history and market trends, as well as in acquiring high-quality examples.
The future of the 1937 Nickel Indian Head is uncertain, but one thing is clear: the coin’s enduring appeal and significance will ensure that it remains a beloved artifact of American numismatic history. Whether you are a seasoned collector or a newcomer to the world of numismatics, the 1937 Nickel Indian Head offers a fascinating and rewarding opportunity to explore the rich history of American coinage.
Conclusion
The 1937 Nickel Indian Head is a classic coin that has captivated collectors and enthusiasts for decades. Its unique design, historical significance, and cultural importance make it a desirable addition to any collection. Whether you are interested in the coin’s history, its role in the Great Depression, or its impact on popular culture, there is much to explore and discover in the world of the 1937 Nickel Indian Head.
By understanding the coin’s grading, identifying key dates and mint marks, and preserving and displaying the coin properly, collectors can build a rewarding and meaningful collection. The future of the 1937 Nickel Indian Head is uncertain, but its enduring appeal and significance are sure to ensure that it remains a beloved artifact of American numismatic history for generations to come.
FAQs
What is the 1937 Nickel Indian Head?
The 1937 Nickel Indian Head is a classic coin that was minted during the Great Depression era. It features a Native American profile on the obverse and a buffalo on the reverse.
What is the significance of the 1937 Nickel Indian Head?
The 1937 Nickel Indian Head holds significant historical and cultural importance. Its design reflects the romanticized image of Native Americans and the buffalo symbolizes the American West and frontier spirit.
How rare is the 1937 Nickel Indian Head?
The 1937 Nickel Indian Head is relatively rare, with fewer than 10 million coins minted. The exact mintage figures are not known, but the coin’s rarity makes it a desirable addition to any collection.
How do I collect the 1937 Nickel Indian Head?
To collect the 1937 Nickel Indian Head, collectors should understand the coin’s grading, identify key dates and mint marks, assess the coin’s rarity, and build a collection that includes coins in different grades and mint marks. They should also be prepared to invest time and effort in researching the coin’s history and market trends.
How do I preserve and display the 1937 Nickel Indian Head?
Once a collector has acquired a 1937 Nickel Indian Head, it is essential to preserve and display the coin properly. Coins should be stored in protective holders or slabs to prevent damage and maintain their condition. Collectors should also consider displaying their coins in a way that showcases their beauty and historical significance.