There are exciting news for all numismatist (aka coin collectors) and enthusiasts out there. According to reports, an old five-cent coin could fetch a huge price at auction, well over its actual face value, and many of these pieces are currently in circulation, if you can find it And the best part is that this is not a rare coin that you would have to scour the earth for. Many of these pieces are still in circulation today, meaning you might have one in your pocket right now without even knowing.

The coin that has caused all this turmoil is the five-cent coin minted in 1937, better known by enthusiasts as the ‘Buffalo Nickel’ that can be worth up to $18,000 due to its unique design and some factors that make it unique for collectors. Also known as the ‘Bison Nickel’, this piece came to replace the old 1913 cents with the ‘Liberty Head’ design, and some of them remain in circulation almost 90 years after their release.

There are some characteristics that make this piece unique, even the non-valuable ones. The Buffalo Nickel cent has the design of a bison on a mound on its obverse as well as the words ‘United State of America, E pluribus Unum and Five Cents’, while on the reverse there is a Native American representation head  looking to the right, in addition to the inscription ‘Liberty’ and the year of minting of 1937. This currency had two designs and in the second one the mound on which the bison stood was eliminated because they discovered that it caused rapid wear, making some of these coins even more rare.

The 5-cent coin that can be worth up to 18 thousand dollars

But, as per usual, not all pieces of this design can raise such a high value at auction, in fact most of them have been unremarkable and taken out of circulation by the authorities when their state had compromised their value, like the ones where the mound was particularly worn off. The specific coins that can reach the exponential value are only those that contain the mint mark ‘S’ in reference to the San Francisco Mint are those that can be auctioned for high prices.

The Professional Coin Grading Service gives different grades, depending on the state of conservation of the coin, going from 35 dollars for a coin in bad condition to 18 thousand dollars if the specimen has an evaluation of MS-68 and is in near mint condition.

The San Francisco Mint was the smallest producer of this currency, making them a rarity. The more common ones do not have a mint sign, meaning they were produced in Philadelphia, and are not very valuable, as there were so many and without any remarkable characteristics that the market would be flooded. This design was also produced in Denver, and these pieces are rarer (although not as rare as the San Francisco ones) and one in mint condition with an MS68, the highest grade these coins go up to, can fetch $21,000.

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The value of these coins has gone up and down over the years, for example, in 2007, a 1937 Buffalo Nickel with a grade of MS-68 sold for $29,900 at auction. The specific value of your coin will vary vastly depending on minute details and the time at which you decide to sell, so it is essential to inspect the pieces to be sure that your expectations match reality. A good practice will always be to have the coin inspected by a professional appraiser and registered as soon as you find it, especially if you plan to hold on to it, because, who knows, you could have a treasure in your hands.

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