The 1928 Indian Head Nickel is a classic coin that has captivated collectors for decades. Its unique design and historical significance make it a sought-after item among numismatists. In this comprehensive guide, we will delve into the value of the 1928 Indian Head Nickel, its history, and the factors that influence its worth. Whether you are a seasoned collector or just starting out, this article will provide you with the information you need to understand and appreciate this iconic coin.
The History of the Indian Head Nickel
The Indian Head Nickel, also known as the Buffalo Nickel, was first minted in 1913. The design was created by James Earle Fraser, an American sculptor, and features an Indian chief on the obverse and a buffalo on the reverse. The 1928 Indian Head Nickel is part of this series and is highly valued by collectors.
The Indian Head Nickel was initially minted to replace the Liberty Nickel, which had been in circulation since 1883. The new design was intended to celebrate the centennial of the United States Mint and to honor the Native American population. The coin was an immediate success and remained in circulation until 1938.
The Value of the 1928 Indian Head Nickel
The value of a 1928 Indian Head Nickel can vary greatly depending on several factors. Here are some of the key factors that influence its worth:
Rarity
The 1928 Indian Head Nickel is relatively rare compared to other years in the series. This rarity contributes to its value. The exact number of coins minted in 1928 is not known, but it is estimated that fewer than 500,000 were produced. This scarcity makes the coin more desirable to collectors.
Condition
The condition of a coin is one of the most important factors in determining its value. The 1928 Indian Head Nickel is graded on a scale of 1 to 70, with 70 being the highest grade. A coin in mint condition (grade 65 or higher) will command a much higher price than one in poor condition.
Surface Preservation
The surface of a coin can also impact its value. A coin with a smooth, unblemished surface will be worth more than one with scratches, nicks, or other imperfections. The surface preservation of a 1928 Indian Head Nickel can be affected by how the coin was stored and handled over the years.
Luster
Luster refers to the shine or glossiness of a coin’s surface. A coin with high luster will be more valuable than one with dull or faded luster. The luster of a 1928 Indian Head Nickel can be affected by the coin’s age and how it was stored.
Originality
A coin that is original and has not been altered or tampered with will be worth more than one that has been cleaned, repaired, or otherwise modified. The originality of a 1928 Indian Head Nickel can be determined by examining the coin’s details and comparing it to known examples.
Market Demand
The demand for a particular coin can also influence its value. The 1928 Indian Head Nickel is a popular coin among collectors, which can drive up its price. However, market demand can fluctuate over time, so it is important to stay up-to-date with current trends.
Grading the 1928 Indian Head Nickel
Grading is the process of evaluating a coin’s condition and assigning it a numerical value based on a standardized scale. The 1928 Indian Head Nickel is graded on a scale of 1 to 70, with 70 being the highest grade. Here are the grading standards for the 1928 Indian Head Nickel:
Mint State (MS)
Mint State coins are those that have never been circulated and are in their original mint condition. The 1928 Indian Head Nickel can be graded as follows:
– MS-60: A coin with a few minor imperfections, such as light scratches or nicks.
– MS-61: A coin with a few more noticeable imperfections, but still in good overall condition.
– MS-62: A coin with a few more imperfections, but still in good overall condition.
– MS-63: A coin with a few more imperfections, but still in good overall condition.
– MS-64: A coin with a few more imperfections, but still in good overall condition.
– MS-65: A coin with a few more imperfections, but still in good overall condition.
– MS-66: A coin with a few more imperfections, but still in good overall condition.
– MS-67: A coin with a few more imperfections, but still in good overall condition.
– MS-68: A coin with a few more imperfections, but still in good overall condition.
– MS-69: A coin with a few more imperfections, but still in good overall condition.
– MS-70: A coin with no imperfections and in mint condition.
Proof State (PF)
Proof State coins are those that have been struck using a special die and polished. The 1928 Indian Head Nickel can be graded as follows:
– PF-60: A coin with a few minor imperfections, such as light scratches or nicks.
– PF-61: A coin with a few more noticeable imperfections, but still in good overall condition.
– PF-62: A coin with a few more imperfections, but still in good overall condition.
– PF-63: A coin with a few more imperfections, but still in good overall condition.
– PF-64: A coin with a few more imperfections, but still in good overall condition.
– PF-65: A coin with a few more imperfections, but still in good overall condition.
– PF-66: A coin with a few more imperfections, but still in good overall condition.
– PF-67: A coin with a few more imperfections, but still in good overall condition.
– PF-68: A coin with a few more imperfections, but still in good overall condition.
– PF-69: A coin with a few more imperfections, but still in good overall condition.
– PF-70: A coin with no imperfections and in proof condition.
The 1928 Indian Head Nickel in Popular Culture
The 1928 Indian Head Nickel has made appearances in popular culture over the years. Its unique design and historical significance have made it a popular choice for collectors and enthusiasts alike. Here are some examples of the 1928 Indian Head Nickel in popular culture:
Movies and Television
The 1928 Indian Head Nickel has appeared in several movies and television shows. In the 1990 film “The Hunt for Red October,” the coin is used as a plot device to track the movements of a Soviet submarine. In the 2008 television series “The Mentalist,” the coin is used as a clue in an investigation.
Literature
The 1928 Indian Head Nickel has also made appearances in literature. In the 1995 novel “The Da Vinci Code” by Dan Brown, the coin is used as a clue in the investigation of a murder. In the 2007 novel “The Historian” by Elizabeth Kostova, the coin is used as a clue in the investigation of a historical mystery.
Video Games
The 1928 Indian Head Nickel has appeared in several video games. In the 2008 video game “Fallout 3,” the coin is used as a collectible item. In the 2010 video game “Red Dead Redemption,” the coin is used as a collectible item.
How to Buy and Sell the 1928 Indian Head Nickel
If you are interested in buying or selling a 1928 Indian Head Nickel, there are several options available to you. Here are some tips for buying and selling this iconic coin:
Buying the 1928 Indian Head Nickel
When buying a 1928 Indian Head Nickel, it is important to do your research and find a reputable seller. Here are some tips for buying this coin:
– Research the Market: Before making a purchase, research the current market value of the 1928 Indian Head Nickel. This will help you determine a fair price and avoid overpaying.
– Find a Reputable Seller: Look for a seller with a good reputation and a track record of selling high-quality coins. You can find sellers online, at coin shows, or through coin dealers.
– Inspect the Coin: Before making a purchase, inspect the coin carefully to ensure it is in good condition. Look for any signs of wear, damage, or tampering.
– Get a Certificate of Authenticity: If possible, obtain a certificate of authenticity from a reputable coin grading service. This will provide you with additional peace of mind and help protect your investment.
Selling the 1928 Indian Head Nickel
If you have a 1928 Indian Head Nickel to sell, there are several options available to you. Here are some tips for selling this coin:
– Research the Market: Before listing your coin for sale, research the current market value. This will help you determine a fair price and avoid underselling.
– Find a Reputable Buyer: Look for a buyer with a good reputation and a track record of purchasing high-quality coins. You can find buyers online, at coin shows, or through coin dealers.
– Grade Your Coin: Before listing your coin for sale, have it graded by a reputable coin grading service. This will provide you with an objective assessment of its condition and help you determine its value.
– Be Patient: Selling a 1928 Indian Head Nickel can take time, so be patient and don’t rush the process. Take your time to find the right buyer and get the best possible price.
Conclusion
The 1928 Indian Head Nickel is a classic coin that has captivated collectors for decades. Its unique design and historical significance make it a sought-after item among numismatists. In this comprehensive guide, we have explored the value of the 1928 Indian Head Nickel, its history, and the factors that influence its worth. Whether you are a seasoned collector or just starting out, this article has provided you with the information you need to understand and appreciate this iconic coin.