How Much is a 1936 Buffalo Nickel Worth? | 1936 Buffalo Nickel Value

 

1936 Buffalo Nickel Values | How Much is Your 1936 Buffalo Nickel Worth?

The Buffalo nickel is a classic American coin. Although this nickel was only minted from 1913 until 1938, its popularity among collectors means that most Buffalo nickels carry a premium today. But because mintages for this series varied from year to year and between mints, a Buffalo nickel’s value can vary considerably depending on which year it was minted, the coin’s current condition, and which mint produced it. 

If you’ve found or purchased a 1936 Buffalo nickel, you may be wondering how much it’s worth. There’s good and bad news. The bad news is that most 1936 Buffalo nickels in moderate condition are only worth $2-3. On a brighter note, some 1936 Buffalos feature the “3.5-legged buffalo” error. Even in poor condition, a 3.5-legged Buffalo nickel retails for $500 or more, with the finest specimens selling at auction for tens of thousands of dollars.

The 1936 Buffalo nickel featured the highest mintage of the entire series. With over 119,000,000 Buffalo nickels minted at the Philadelphia Mint, the vast majority of average-grade 1936 Buffalo nickels are only worth a few dollars to collectors. As you’ll see on this page, however, the value of a 1936 Buffalo nickel depends chiefly on its condition, mint mark, and any mint-made error it may possess.

On this page, learn more about how much a 1936 Buffalo nickel is worth, as well as how to evaluate your own coin to determine how much it could be worth to the right collector.

About the 1936 Buffalo Nickel

1936 is the most common year for the Buffalo nickel series. Over 119 million Buffalo nickels were produced at the Philadelphia Mint in 1936, with another 24.8 million coming out of the Denver Mint. San Francisco is the rarest 1936 Buffalo nickel mint mark, though this mint mark is still not particularly rare, with a total San Francisco production of just under 15 million Buffalo nickels in 1938.

With one notable exception, the 1936 Buffalo Nickel features the same designs that characterized the series since the introduction of the “Type 2” design in 1913. The exception to this rule is the highly sought-after “3-and-a-half leg” 1936 Buffalo nickel, a rare mint-made error coin that can sell for thousands of dollars at auction.

Designs

Like all other coins in the series, the 1936 Buffalo nickel features James Earle Fraser’s depiction of a Native American chief on the obverse. On the reverse, you’ll find the noble American buffalo standing proudly on a rocky plain. These designs are a cornerstone of American coinage, which adds to the numismatic and collectible appeal of the coin. 

Today, James Earle Fraser’s classic design is used on the American Gold Buffalo, a 99.99% pure gold bullion coin produced annually by the United States Mint. In addition to its impact on modern bullion coinage, the Buffalo nickel remains a popular collector’s item. Because of the coin’s unique and distinctly American designs, Buffalo nickels typically sell at a premium over face value – even in circulated condition.

1936 Buffalo Nickel Mintages

All totaled, the 1936 Buffalo nickel is the most common coin of the entire series. Its mintage across all three mints (Philadelphia, Denver, and San Francisco) totals 158,745,420 coins, making the coin generally common in average, circulated condition. That being said, 1936 Buffalo nickel production was considerably lower at the Denver and San Francisco Mints than at the Philadelphia Mint, making the former two mint marks a bit more valuable.

Let’s take a look at 1936 Buffalo nickel mintages by mint mark:

• Philadelphia Mint (No Mint Mark): 119,001,420
• Denver Mint (D): 24,814,000
• San Francisco Mint (S): 14,930,000

As we’ll discuss later on this page, the mint mark of a 1936 Buffalo nickel can directly impact its value. More importantly, the 1936 Buffalo nickel’s most valuable error, the 3-1/2 leg error, has only been found on specimens from the Denver Mint. As a result, be sure to check the mint mark on your 1936 Buffalo nickel to get a better idea of its potential value.

Rare 1936 Buffalo Nickel Errors

Certain 1936-D Buffalo nickels feature an extremely rare mint-made error known as the “3-1/2 Leg” variety. On these coins, workers at the Denver Mint polished coins too harshly. This mistake resulted in half of the buffalo’s fourth leg being missing. Very few of these error coins have been found, and a 1936-D “3-1/2 Leg” Buffalo nickel can be worth quite a bit of money. Even in poor condition, these error coins can market at over $500.

Later in this guide, we’ll give collectors a few tips on how to identify this error.

Valuating a 1936 Buffalo Nickel

Like most numismatic coins, the value of a 1936 Buffalo nickel depends chiefly on the coin’s mint mark, condition or grade, and the presence of any rare mint-made errors. Since the 1936 Buffalo nickel is composed of a copper/nickel alloy, you won’t need to worry about calculating melt value when determining the value of this coin. 

Here are the three main factors that impact the value of a 1936 Buffalo nickel:

1. Mint Mark
2. Condition/Grade
3. Rare Errors (If Present)

Mint Mark

A mint mark is a small letter that signifies which of several U.S. Mint locations manufactured a particular coin. On the 1936 Buffalo nickel, you’ll find one of three mint marks. No mint mark means that a Buffalo nickel was produced at the Philadelphia Mint. A ‘D’ mint mark implies that the buffalo nickel was minted at the Denver Mint, while an ‘S’ mint mark means the coin was manufactured at the San Francisco Mint.

The mint mark of a 1936 Buffalo nickel is especially important because of the disparity in mintage figures between the three mints. Philadelphia produced over 119 million Buffalo nickels in 1936, which is the highest mintage in the entire Buffalo nickel series. With a mintage of only 14.93 million, the San Francisco (S) Mint produced the fewest 1936 Buffalo nickels. 

Here’s a rough estimate of how much a Buffalo nickel in heavily circulated condition (PO3) is worth from each mint, according to the PCGS coin price guide:

• 1936 Buffalo Nickel (No Mint Mark): $3
• 1936-D Buffalo Nickel: $3
• 1936-S Buffalo Nickel: $3

As you can see, 1936 Buffalo nickels in very poor condition are typically worth only a few dollars – regardless of their mint marks. But in higher grades, values for the 1936-D and 1936-S specimens vastly outpace auction sale prices for coins from the Philadelphia Mint, which are more common.

Condition/Grade

The condition of a 1936 Buffalo nickel is likely the single most important factor in determining its value. Buffalo nickels from 1936 are very common and worth only a few dollars in heavily circulated condition. In near-mint-state condition, however, these coins can sometimes be worth hundreds – or even thousands – of dollars. 

If you suspect that your 1936 Buffalo nickel may be in great condition, it could be worth reaching out to an expert. Your local coin shop will generally tell you if the coin appears to be in exceptional condition. If this is the case, a professional grading service like PCGS and NGC may be worth considering. 

In most cases, the high mintage of the 1936 Buffalo nickel makes it not worth a paid grading service.

Rare Errors

There is only one notable error present on the 1936 Buffalo nickel. This error is aptly called the “3-1/2 Legged” Buffalo nickel. Since this coin sells for $500 or more in poor condition, it’s almost always worth getting certified and graded if you suspect that your 3-1/2 Legged Buffalo nickel is genuine.

On this error, over-polishing led to the Buffalo on the coin’s reverse missing half of one of its legs. Very few of these mint-made error coins have been certified, making it an exceptional and valuable find in any grade.

About the “3-1/2 Legged” Buffalo Nickel

The 3-1/2 Legged Buffalo nickel is likely the second most recognizable Buffalo nickel error, behind the iconic 3-Legged error that occurred with some coins in 1937. Luckily for new collectors, this rare error is relatively easy to spot and can typically be identified by the naked eye. 

Identifying a 3-1/2 Legged 1936 Buffalo Nickel

A regular Buffalo nickel features a buffalo with four legs on its reverse side. All four legs are visible as the animal stands on top of a rocky plain. But because of the Buffalo nickel’s unique, slightly raised designs, certain coins in the series were occasionally polished too harshly. As a result, errors relating to the coin’s reverse design occurred on some coins minted in both 1936 and 1937.

The 1937 error resulted in Buffalo nickels where the animal on the reverse side appears to be missing the bottom half of its leg. This mutilated leg is the buffalo’s front-left leg, which is on the left side of the coin situated away from the viewer. 

Value and Auction Records

Even in poor condition, a 3.5-Legged Buffalo nickel is worth around $500 or more. The auction record for this error coin is $20,700 at a 2009 Stack’s Bowers Auction. This coin was in MS63 condition and is among the finest known examples of the 1936 3-1/2 Legged Buffalo nickel.

Final Thoughts: How Much is a 1936 Buffalo Nickel Worth?

Because of its high mintage figures, 1936 Buffalo nickels typically sell for just a few dollars. In excellent condition, however, this coin can be very valuable to collectors. If you happen to come across a “3-1/2 Legged” 1936 Buffalo nickel, you could be sitting on a gold mine. But in most cases, it’s important for collectors to understand that the majority of 1936 Buffalo nickels are common and not particularly valuable. 

As always, your coin’s mint mark, condition, and the presence of relevant errors will help you determine its approximate value.

You might also be interested in:

• What is a No Date Buffalo Nickel – And How Much is it Worth?
• Buffalo Nickel Values – How Much Are They Worth?
• Are Gold Buffalo Coins a Smart Investment?