Penny worth Millions: The 1927 Buffalo Nickel is a fascinating piece of U.S. numismatic history. With its rarity, unique production process, and high value, this coin has captured the attention of collectors and enthusiasts alike. In this article, we delve into the history, characteristics, and value of this remarkable coin. If you’re a collector or just curious about rare coins, read on to uncover the secrets of the 1927 Special Strike Buffalo Nickel.
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What Are Buffalo Nickels?
Buffalo Nickels were minted from 1913 to 1937 at the Philadelphia, Denver, and San Francisco mints. These coins weigh 5 grams and are composed of 25% nickel and 75% copper. Known for their iconic design featuring a Native American on the obverse and an American buffalo on the reverse, these coins are beloved by collectors for their historical and aesthetic significance.
Key Features of Buffalo Nickels:
- Minted: 1913–1937
- Composition: 25% nickel, 75% copper
- Weight: 5 grams
- Varieties: Regular and proof finishes
The Enigma of the 1927 Special Strike Buffalo Nickel
The 1927 Buffalo Nickel is no ordinary coin. Only nine examples of this rare variety are known to exist, making it a true gem in the world of coin collecting. These coins were first discovered in 2009 and are distinguished by their sharp strike and unusual finish, setting them apart from regular and proof Buffalo Nickels.
A Mysterious Discovery
Three 1927 Special Strike Buffalo Nickels were uncovered during a grading process, accompanied by other nickels from 1930 and 1934. Experts noticed their unique characteristics, sparking an investigation. With no official documentation to explain their existence, these coins were classified as “Special Strike” due to their experimental production process.
Unique Characteristics:
- Sharp strike and distinct finish
- Microcracking patterns on the surface, indicative of chromium-plated dies
- Produced using experimental techniques
Historical Theories and Significance
The origin of these coins remains shrouded in mystery. One theory suggests they were distributed to members of the Assay Commission, though this remains unverified as the commission primarily handled gold and silver coins. Research indicates that the dies used for these coins were leftover from matte-proof strikings produced between 1913 and 1916. The use of chromium-plated dies in 1927 further supports the classification of these coins as experimental.
Why Were They Made?
The 1928 Mint Director’s report mentions the installation of a chromium plating plant to improve die durability, which aligns with the microcracking patterns observed on these coins. However, the exact reason for their production and their limited number remains a mystery.
Value of the 1927 Buffalo Nickel
The rarity and historical significance of the 1927 Special Strike Buffalo Nickel make it highly valuable. Graded as SP65 and SP66 by PCGS and NGC, these coins have fetched impressive prices at auctions:
| Grade | Auction Price | Estimated Value |
|---|---|---|
| SP65 | $43,000 – $47,000 | $80,000 – $87,000 |
| SP66 | Not yet sold | $87,000+ |
Tips for Collectors:
- Use magnification to inspect Buffalo Nickels for unique finishes.
- Look for sharp strikes and microcracking patterns indicative of special production.
Final Thoughts
The 1927 Special Strike Buffalo Nickel stands as a testament to the artistry and experimentation of U.S. coinage. Its rarity, combined with its mysterious origins and experimental production, makes it a must-have for serious collectors. If you’re lucky enough to come across one, you’ve found a true treasure!
Do you own a Buffalo Nickel? Share your thoughts and experiences in the comments below. Don’t forget to check out our latest articles on other rare and fascinating coins. Happy collecting!