1937-D 3 Legs Buffalo Nickel NGC MS66
1937-D 3 Legs Buffalo Nickel NGC MS66
- Mintage: 17,826,000
- NGC Population: 22 in the grade with 2 finer known
- PCGS Population: 17 in the grade with none finer known
- Collector's Universe Price Guide: $57,500
- Finest Known: MS67 (2) – Expected to realize roughly $100,000+ today.
- In the past twenty-plus years a MS67 1937-D 3 Legs Buffalo Nickel has traded only 4 times for an average price of approximately $85,000.
- The 1937-D 3 Legs Buffalo Nickel is One of the Most Famous Issues From the 20th Century!
- Adoption of the five-cent nickel first began in 1866, to replace the unfavorable five-cent fractional notes that were circulating due to an insufficient supply of gold and silver, a direct result of wartime hoarding following the Civil War.
- James B. Longacre’s Shield Nickel design was used until 1883, when it was replaced by Charles E. Barber’s Liberty Head design, also referred to as “V” nickels.
- By 1907, President Theodore Roosevelt created a movement to redesign all United States coinage relying on the vision of the most renowned artists of their day.
- This mission that stretched from 1907 through 1921, became known as the Renaissance of American Coinage and entrusted the talents of Augustus Saint Gaudens, Bela Lyon Pratt, Adolph Weinman, Herman MacNeil, Anthony de Francisci, Victor Brenner and James Earle Fraser.
- Prolific artist and former assistant to Saint-Gaudens, James Earle Fraser, created a truly unique design that would be radically different from any design that had ever graced the reverse of a United States coin.
- His obverse would feature the portrait of an Indian Chief modeled after three aged chiefs: Iron Tail (Custer’s opponent at Little Big Horn), Two Moons and John Big Tree.
- Outside of Bela Lyon Pratt’s quarter and half eagles of 1908, all other U.S. coins that displayed the likeness of Indians were primarily Caucasian with an Indian headdress.
- Almost entirely the reverses of U.S. coins had featured some variation of an eagle, Fraser’s reverse diverted from that path, depicting an American bison, although some believe it to be a European buffalo.
- The American Bison its modeled after is the famous old “Black Diamond” then residing in the Central Park Zoo in New York City.
- Nonetheless, the public’s nickname “Buffalo Nickel” has remained synonymous with the coin since its introduction in 1913.
- The series was produced with minor modifications from 1913 through 1938. Several scarce dates are popular amongst collectors but the most popular issue in the series bar none is the famous 1937-D 3 Legs Buffalo.
- The 3-Legged Buffalo was the result of excessive regrinding of the die to remove clash marks.
- Die clashing is a common accident seen at any mint and standard procedure would be to discard the dies that have become defaced by the clashing, replacing them with new ones before resuming production.
- However, at the time of the incident the press man, a newcomer, was under the pressure of reaching a quota so instead of replacing the clashed dies he grounded off the clash marks removing the bison’s foreleg, also weaking other details.
- A large quantity was then mixed into sealed sacks with normal 1937-D Buffalo Nickels before inspectors had a chance to condemn the dies and discard them.
- Due to them being mixed with normal issues many of the 3-Legged variety reached the public’s hands and are seldomly seen in mint state condition.
- The haste of a mint employee created one of the most identifiable issues of the 20th century, leading to countless coin enthusiasts scavenging bags and rolls of buffalo nickels in search for the eminent 3-Legged Buffalo Nickel.
- Today NGC & PCGS have combined to certify just over 17,000 1937-D Legs Buffalo Nickels. Fewer than 20% remain in Uncirculated condition from this total.
- Furthermore, Premium Gem (MS66) to Superb Gem (MS67) specimens for the 1937-D 3 Legs represent the top 0.2% of all surviving examples attainable to collectors for this Legendary 20th Century Issue!
