US Coins

Market Analysis: 1937-D Three-Legged ‘Buffalo nickel’

The 1937-D Indian Head, Three-Legged Bison 5-cent coin is a famed issue in the series and few are seen in top Mint State grades. Legend offered one graded Mint State 66+ with a green Certified Acceptance Corp. sticker that is tied for the finest-graded at Professional Coin Grading Service.

It found a new home at $99,875.

Legend praised the “off the charts” eye appeal, above-average luster and light golden accents at the peripheries.

The missing leg is the result of die polishing on an already worn reverse die that effectively removed one of the bison’s legs, leaving a disassociated hoof. A “stream” of sorts that runs below the bison’s belly is seen on all examples of the variety and survives even in lower grades.

The mistake was quickly discovered by collectors and Mint State examples survive, though most are in lower Uncirculated grades because of deficient luster. Those with sizzling luster like the one offered on Oct. 28 are prizes.

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