The 1936 Indian Head Nickel, also known as the Buffalo Nickel, is a fascinating piece of American numismatic history. This coin, designed by James Earle Fraser, has captivated collectors and enthusiasts alike with its unique design and historical significance. In this comprehensive guide, we will delve into the history, design, rarity, and value of the 1936 Indian Head Nickel.
History of the Indian Head Nickel
The Indian Head Nickel was first minted in 1913 as a replacement for the Liberty Nickel. The design, featuring an American Indian on the obverse and a buffalo on the reverse, was chosen to represent the American spirit and the country’s natural resources. The coin was minted until 1938, with the 1936 issue being one of the most notable.
The Design of the 1936 Indian Head Nickel
The 1936 Indian Head Nickel, designed by James Earle Fraser, is known for its intricate and detailed design. The obverse features a Native American chief, often referred to as “Big Head,” wearing a headdress and a blanket. The reverse shows a buffalo, or bison, standing proudly. The coin’s design is a testament to the rich cultural heritage of the United States and its connection to the natural world.
The Obverse: The American Indian
The obverse of the 1936 Indian Head Nickel is perhaps the most iconic part of the coin. The design features a Native American chief, often referred to as “Big Head,” wearing a headdress and a blanket. The chief’s face is depicted in a realistic and detailed manner, with a strong jawline and a prominent nose. The headdress is adorned with feathers, and the blanket is draped over the chief’s shoulders.
The Reverse: The Buffalo
The reverse of the 1936 Indian Head Nickel features a buffalo, or bison, standing proudly. The buffalo is depicted in a realistic and detailed manner, with a strong and muscular body. The coin’s design is a testament to the rich cultural heritage of the United States and its connection to the natural world.
The Minting Process
The 1936 Indian Head Nickel was minted at the Philadelphia Mint, the San Francisco Mint, and the Denver Mint. The coin was struck using a composition of 50% copper and 50% nickel, giving it a distinctive silver color. The minting process involved striking the coin using a die, which created the intricate details of the design.
Rarity of the 1936 Indian Head Nickel
The 1936 Indian Head Nickel is considered to be one of the rarest coins in American numismatics. The coin was minted in relatively small quantities, and many of the coins that were minted have since been lost or damaged. The rarity of the 1936 Indian Head Nickel makes it highly sought after by collectors and enthusiasts.
Mintage Figures
The mintage figures for the 1936 Indian Head Nickel vary depending on the mint location. The Philadelphia Mint struck 1,489,000 coins, the San Francisco Mint struck 1,126,000 coins, and the Denver Mint struck 1,137,000 coins. The total mintage for the 1936 Indian Head Nickel is approximately 3.75 million coins.
Surviving Coins
Despite the relatively high mintage figures, the 1936 Indian Head Nickel is considered to be quite rare. Many of the coins that were minted have since been lost or damaged, and the number of surviving coins is estimated to be in the tens of thousands. The rarity of the 1936 Indian Head Nickel makes it highly sought after by collectors and enthusiasts.
Value of the 1936 Indian Head Nickel
The value of the 1936 Indian Head Nickel varies depending on its condition and rarity. The coin is typically graded using a scale of 1 to 70, with 1 being the lowest grade and 70 being the highest. The value of the coin also depends on its mint mark, with coins minted at the Philadelphia Mint being the most valuable.
Uncirculated Coins
Uncirculated coins, or coins that have never been circulated, are the most valuable. These coins are typically graded as MS-60 or higher, and their value can range from $500 to over $10,000, depending on their condition and rarity.
Circulated Coins
Circulated coins, or coins that have been used in circulation, are less valuable than uncirculated coins. These coins are typically graded as G-4 or lower, and their value can range from $20 to $100, depending on their condition and rarity.
Proof Coins
Proof coins, or coins that have been struck using a special die and polished planchet, are highly valuable. These coins are typically graded as PF-63 or higher, and their value can range from $500 to over $10,000, depending on their condition and rarity.
Collecting the 1936 Indian Head Nickel
Collecting the 1936 Indian Head Nickel can be a rewarding hobby for numismatic enthusiasts. The coin’s unique design, historical significance, and rarity make it a popular choice for collectors. Here are some tips for collecting the 1936 Indian Head Nickel.
Research and Education
Before you start collecting, it’s important to educate yourself about the coin and its history. Learn about the design, minting process, and rarity of the 1936 Indian Head Nickel. This will help you make informed decisions about your collection and avoid making costly mistakes.
Set a Budget
Collecting can be expensive, so it’s important to set a budget before you start. Determine how much you are willing to spend on your collection, and stick to that budget. This will help you avoid overspending and ensure that you are getting the best value for your money.
Build a Collection
Start building your collection by acquiring coins in different grades and conditions. This will give you a well-rounded collection and allow you to appreciate the coin’s beauty and historical significance. Consider acquiring coins from different mints and with different mint marks to add variety to your collection.
Join a Numismatic Club
Joining a numismatic club can be a great way to connect with other collectors and learn about the hobby. Clubs often host meetings, exhibits, and auctions, and they can provide valuable resources and information for collectors.
Attend Coin Shows and Auctions
Attend coin shows and auctions to see the 1936 Indian Head Nickel in person and to learn about its value. Coin shows and auctions can be a great place to meet other collectors and to find rare and valuable coins.
Conclusion
The 1936 Indian Head Nickel is a fascinating piece of American numismatic history. Its unique design, historical significance, and rarity make it a popular choice for collectors and enthusiasts. Whether you are a seasoned collector or a beginner, the 1936 Indian Head Nickel is a coin that is sure to captivate and inspire.
Further Reading
If you are interested in learning more about the 1936 Indian Head Nickel, there are many resources available. Consider reading books, attending seminars, and joining online forums to expand your knowledge and connect with other collectors. With the right education and resources, you can build a valuable and rewarding collection of 1936 Indian Head Nickels.
Final Thoughts
The 1936 Indian Head Nickel is more than just a coin; it is a piece of history that tells the story of the American spirit and the country’s connection to the natural world. Whether you are a collector or simply appreciate the beauty of the coin, the 1936 Indian Head Nickel is a coin that is sure to captivate and inspire.