1936 Buffalo Nickel Value Guide

The 1936 Buffalo Nickel Value

The 1936-D 3-½ Legs variety is by far the most valuable version. It ranges from $606 and reaches $18,000 and up.

The circulation-strike versions from the Philadelphia, Denver and San Francisco Mints all have a comparable value across the grades to about uncirculated. 

Denver and San Francisco buffalo nickels are comparable and slightly more valuable than the Philadelphia coins in the mint-state grades. 

The values of the upper end of the mint-state grades (68 and up) are dependent on the survival rates from the different Mints. 

Proofs are the most valuable strike type. The brilliant-finish proof-strike version is more valuable than the satin-finish proofs. 

An N/A for a value below indicates no publicly known examples of that version of the 1936 buffalo nickel with that grade, or no value information (or not enough) exists for it yet.

Additionally, all values are conservative estimates based on research. Please note all values are subject to change due to the market or circumstances unaccounted for during research and publication. We always recommend doing further research or consulting with a professional.

Melt Value

The 1936 buffalo nickel’s melt value is approximately negligible. The melt value will fluctuate with the market.

Circulation Strike Value Chart

	Coin Names And Coin Values
Grade Names	1936 Buffalo Nickel	1936-D Buffalo Nickel	1936-D 3-½ Legs Buffalo Nickel	1936-S Buffalo Nickel
Good – G	$2	$2	$606	$2
Very Good – VG	$2	$2	$832	$2
Fine – F	$3	$3	$1,300	$3
Very Fine – VF	$4	$4	$2,000	$4
Extra Fine – XF	$6	$9	$4,200	$6
About Uncirculated – AU	$10-$24	$18-$34	$6,000- $9,400	$12-$35
Mint State – MS	$26-$43,000 (68+)	$37-$30,000 (68)	$13,000-$18,000 (62)	$38-$4,300 (67+)

Proof Strike (PR) Value Chart

	Coin Names And Coin Values
Grade Names	1936 Satin Proof Buffalo Nickel	1936 Brilliant Proof Buffalo Nickel
PR 60	$787	$812
PR 61	$915	$937
PR 62	$987	$1,000
PR 63	$1,000	$1,100
PR 64	$1,300	$1,300
PR 65	$1,600	$1,600
PR 66	$1,900	$1,800
PR 67	$2,600	$3,700
PR 68	$7,300	$11,000
PR 69	$63,000	$70,000
PR 70	N/A	N/A

What Makes A 1936 Buffalo Nickel Valuable?

Different elements increase the value of a 1936 buffalo nickel, such as grading, strike types, die varieties, and error coins. 

Let’s start with grading.

Grading

As with all coins, the higher the grade, the higher the value.

Higher grades of the 1936 buffalo nickel are worth considerably more. They range from approximately $26 to the tens of thousands.

An MS 62 is the highest grade certified of the 1936-D 3 1/2 Leg variety.

High grades of the proof-strike versions see a massive jump in value. A PR 68 is valued between $7,000 and $11,000, while a PR 69 is valued between $63,000 and $70,000 and up.

Rarity

The Mint minted 1936 buffalo nickels approximately 158,749,840 times across all of its versions. Please see the following list for the breakdown for each version:

• 1936: 118,997,000 minted in Philadelphia^1,10
• 1936-D: 24,814,000 minted in Denver^2,11
• 1936-D 3-½ Legs: Part of the 1936-D mintage^3,22
• 1936-S: 14,930,000 minted in San Francisco^4,12
• 1936 Satin Proof: 4,420 minted in Philadelphia^5,13
• 1936 Brilliant Proof: 4,420 minted in Philadelphia^6,14

The 1936-D 3-½ Legs buffalo nickel is the rarest of the bunch. It is estimated that its survival rate is in the low hundreds.³ This is reflected in its high value.

Due to their low mintage, proof versions are quite rare. 

Lower grades of the 1936 buffalo nickel are readily available. 

They become slightly more rare in the higher mint-state grades but are still easily obtainable.

Mint Marks

The 1936 buffalo nickel has 2 mint marks:

• “D” for coins minted in Denver^2,11
• “S” for nickels minted in San Francisco^4,12

The buffalo nickels without a mint mark are minted in Philadelphia.^1,10 All proof-strike versions were minted in Philadelphia and, therefore, have no mint mark.^5-6,13-14 

The 1939-D 3-½ Legs buffalo nickel variety with the “D” mint mark is the most valuable. 

Strike Types

The 1936 buffalo nickel has 2 strike types: circulation and proof.^8,9

Circulation-strike 1936 buffalo nickels have a consistently high strike quality. Some show better luster than others. Overall, 1936 produced good-quality buffalo nickels.^1-4,10-12

Proof-strike coins come in 2 versions: satin and brilliant.^5-6

The satin finish was believed to be too close to a circulation-strike coin, so the finish was changed to brilliant.^5,6,13,14

The brilliant finish offers collectors the aesthetically appealing high-mirrored look that is most desired in proof-strike coins.   

Design Variations

There are no design variations for the 1936 buffalo nickel.

Special Designations

There are no special designations for the 1936 buffalo nickel.

Error Coins 

Errors, also known as mint errors, can sometimes result in some interesting and unique coins. Some errors increase a coin’s value, others not so much.  

A known error that increases the value of 1936 buffalo nickels is when they are struck on the wrong planchet – usually, a planchet intended for a different denomination.¹⁵

Another error that increases a coin’s value is when it is struck off-center.¹⁵ This is due to a misalignment of the planchet and die. 

Another example of a known 1936 buffalo nickel error is a broadstrike error.¹⁵ This happens when a coin is struck without a collar. 

The collar keeps the coin the correct size for its denomination. When it is struck without one, it allows the planchet to spread and become larger. 

This error also increases the coin’s value. 

Die Varieties

The most famous die variety for the 1936 buffalo nickel is the 1936-D 3-½ Legs.^3,16 

This variety is the result of an over-polished die.^3,16 The over-polishing resulted in the lower half of the foreleg of the buffalo being absent from the design. 

This is also the most valuable variety. It starts from $606 for a good grade and jumps up to $18,000 and up in the low mint-state grades.

The Philadelphia-minted nickels have several doubled varieties.¹⁶

There are a couple of strong repunched mint mark varieties from the San Francisco Mint, such as the 1936-S S/S FS-501 variety.¹⁶ 

Both the double die and the repunched mint mark varieties increase the value of your coin. 

Composition

The 1936 buffalo nickel is made of 75% copper and 25% nickel. 

This mixed alloy cladding has a negligible melt value, therefore, we recommend you sell your coin rather than melt it. 

How Do You Know If You Have A Valuable 1936 Buffalo Nickel?

The best way to know if you have a valuable 1936 buffalo nickel (or any coin) and to get that value out of it is to have it professionally certified.

However, you can look for many elements to get you started in determining what coin you have.

Let’s start with grading.

Grading

Luckily, most grades of the 1936 buffalo nickel are readily available. This means you would be able to complete a set relatively inexpensively.

However, if you are looking for a more valuable coin, then you will need to concentrate on the higher grades. 

Look for coins with good strike qualities, few imperfections, and a nice luster. You shouldn’t have too much trouble finding such a coin, and it will be worth more. 

Mint Marks

Look at the 1936 buffalo nickel’s reverse side to locate the mint mark. 

At the bottom, underneath “Five Cents,” you will find the mint mark.

There will be a “D” mint mark if your coin was minted in Denver. Your coin will have an “S” mint mark if it came from the San Francisco Mint. If your coin has no mint mark, it was minted at the Philadelphia Mint. 

Strike Types

For the 1936 satin-finish proof buffalo nickel, you will want to look for its exceptional strike quality. It will have full, clear details on both the obverse and reverse sides.^5,13 

In appearance, it will present as less brilliant than the other proof finish but still of better quality than a regular circulation-strike coin.

For the brilliant-proof 1936 buffalo nickel, you will want to look for a highly mirrored and reflective surface.

Its strike quality will far exceed a circulation coin, but the polishing of the dies to achieve the high shine means the details will not be as great as in the satin-finish proof version. 

The 1936 proof brilliant-finish buffalo nickel is the more valuable of the two.   

Design Variations

There are no design variations for the 1936 buffalo nickel.

Special Designations

There are no special designations for the 1936 buffalo nickel.

Error Coins

For a wrong planchet error, look at your coin and see if it is a different size than a normal buffalo nickel. 

Sometimes, they can be on planchets intended for a cent, a dime, a quarter, or even on foreign coinage.¹⁵ It would be a different color if it was struck on a cent planchet. 

If you have a 1936 buffalo nickel that has been struck off-center, then this should be pretty simple to determine.

Simply look at your coin and see if the design has been shifted off-center. It can be on either side and in any direction. Some of the design will likely be missing as well.  

When a coin is struck without a collar it allows the metal to expand out more than it should. This is a broadstrike error.

So, look to see if your coin is larger than usual. The coin’s design should be fully present, and the extra space should be just plain metal.     

Die Varieties

Below are some ways to help you identify some of the valuable die varieties for the 1936 buffalo nickel.¹⁶

1936-D 3-½ Legs 

Remember, this variety is from the Denver Mint, so make sure your coin has the “D” mint mark.

For the details of this variety, you want to look at your coin’s reverse side. 

Because the die was over-polished, part of its details were eroded. Therefore, a coin of this variety will show only the top half of the buffalo’s front right leg. The bottom half will be missing. Hence the name 3-½ legs.

This is the most valuable variety. High grades of this variety reach into the tens of thousands of dollars.

1936 Double Die Obverse (DDO)

This is for coins minted in Philadelphia. 

It will mainly be evident in the higher grades of the 1936 buffalo nickel as more worn coins won’t exhibit such clear doubling. 

You can see the doubling on the obverse side of your coin. You may wish to use a loupe or some form of magnification.

Look at the date “1936.” It will appear thicker – more “bubble-like” – than normal. This is evidence of doubling.

Also look to see this doubling on the letters of “Liberty.” 

The doubling must be strongly apparent for a professional to certify this variety. 

1936-S Repunched Mint Mark

You want to locate the “S” mint mark on the reverse side for this variety. It is at the bottom of the coin under “Five Cents.”

The 1936 S/S FS-501 variety has a very distinct repunched mint mark. The second “S” sits directly above the first “S” mint mark. 

You can see the whole bottom curve below the second “S.” The top serif of the original mint mark will be between the second “S’s” top serif and the middle curve. 

The variety will increase the value of your coin.  

Additional Information About The 1936 Buffalo Nickel

History

The U.S. Mint commissioned the American sculptor James E. Fraser to design the new nickel set. The “buffalo” nickel series ran from 1913 to 1938. 

He chose quintessential American images to depict on his coin: a Native American Chief and an American bison (which is commonly called a buffalo). 

The head of the Native American that Fraser features on the coin’s obverse side is a composite of various real-life native Americans, including Iron Tail and Two Moons.¹⁹

By 1936, the end of America’s Great Depression was in sight or hoped for at least. Although, it would be another 3 years until the official end. However, the increased mintage signaled an upturn in the economy.¹⁸  

After 20 years without proof-strike versions, these coins were again struck and sold in 1936. The two versions – satin and brilliant – were to please collectors.¹³

1936 sees the highest mintage of the buffalo nickel from the San Francisco Mint.¹²  But the issues from the Philadelphia Mint are the highest overall for the entire buffalo nickel series.¹⁰ 

The Coin’s Obverse Side

The right-facing profile of a male Native American fills the majority of the obverse side of the 1936 buffalo nickel.

His hair is braided, covering his ear. In his hair are feathers and a flower. 

To the left on his shoulder is the year “1936.” Underneath the year is Fraser’s initial “F.”

Curving along the rim on the right side from the Native American Chief’s forehead to nose is “Liberty.”  

^{Sources: 1,10}

The Coin’s Reverse Side

In the center of the reverse side of the 1936 buffalo nickel is an American bison facing left.

Circling the coin’s rim at the top is “United States of America.”

Under “America” and above the bison’s back is “E Pluribus Unum.” This is the motto of the United States of America, and it means “Out of many, one.”

Below the plain on which the buffalo stands is “Five Cents.”

If present, the mint mark will be below “Five Cents.” There will be a “D” for coins minted in Denver. There will be an “S” for coins from the San Francisco Mint. Philadelphia doesn’t have a mint mark.

^{Sources: 1,2,4,10-12}

Sources

1936 Buffalo Nickel Value Guide Sources