In a remarkable turn of events, a rare 1913 Buffalo Nickel was recently discovered in an unexpected place: a grandfather’s old coat pocket.
This coin, now valued at an astonishing $5.2 million, has captivated numismatists and collectors alike.
The Discovery
James, the grandson, was cleaning out his late grandfather’s belongings when he stumbled upon an old coat. Inside a hidden pocket, he found a coin that appeared to be a Buffalo Nickel. Initially, he thought it was just another old coin, but its unique design caught his attention.
What Makes the 1913 Buffalo Nickel So Valuable?
The 1913 Buffalo Nickel is one of the rarest coins in American history. Only five are known to exist, and their origin remains shrouded in mystery. Unlike regular Buffalo Nickels, these coins were not supposed to be released to the public.
Coin experts believe these coins were minted unofficially at the Philadelphia Mint, likely by someone who had access to the dies before the official design switch. This backstory adds to the coin’s allure and significantly increases its value.
Authentication and Auction
Upon discovering the coin, James sought the expertise of top numismatists to authenticate its origin. After confirming its authenticity, he was contacted by a prestigious auction house.
In a recent exclusive, invite-only auction, the 1913 Buffalo Nickel was sold to a private collector from California for $5.2 million.
This sale places the coin among the elite of U.S. collectibles, alongside the famed 1933 Double Eagle and the 1794 Flowing Hair Silver Dollar.
The Legacy of the Buffalo Nickel
Minted from 1913 to 1938, the Buffalo Nickel is an iconic symbol of American heritage. Designed by James Earle Fraser, the coin was intended to embody the spirit of the American West.
The Native American portrait on the obverse was a blend of features from several real-life tribal leaders, while the buffalo on the reverse was based on “Black Diamond,” a bison that lived in New York’s Central Park Zoo.
The 1913 Buffalo Nickel stands out due to its rarity and the mystery surrounding its unauthorized minting. Its discovery in a grandfather’s coat pocket adds a personal and nostalgic element to its already rich history.
Coin Details
| Feature | Description |
|---|---|
| Year | 1913 |
| Design | Native American obverse, buffalo reverse |
| Minting Details | Unauthorized, believed to be minted at Philadelphia Mint |
| Number in Existence | Only five known |
| Current Value | $5.2 million |
| Auction Details | Sold to private collector in California |
The discovery of the 1913 Buffalo Nickel in a grandfather’s coat pocket is a testament to the hidden treasures that can be found in everyday places.
This coin’s journey from a forgotten pocket to a $5.2 million auction sale underscores the enduring allure and value of rare numismatic items.
For collectors and enthusiasts, it serves as a reminder to always examine old coins closely, as they might hold more than just sentimental value.
FAQs
How can I identify a rare Buffalo Nickel?
Look for unique features such as unusual mint marks, design errors, or distinctive wear patterns. Consulting with a professional numismatist can provide a definitive assessment.
Are there other valuable Buffalo Nickels?
Yes, certain years and mint marks, like the 1913 Type 1 and 1918/7 overdate, are known to be particularly valuable due to their rarity and demand among collectors.
What should I do if I find a rare coin?
It’s advisable to have the coin authenticated by a reputable numismatist or coin grading service. If authenticated as rare, consider insuring it and possibly selling it through a reputable auction house.