As far as collectible US coins go, the Buffalo Nickel is right up there with the most popular. This 5-cent piece coin was produced through the early stages of the 20th century and was incredibly popular due to its usefulness. Nowadays, the Buffalo Nickel is popular in the eyes of collectors who will stop at nothing to get their hands on these pieces of history.
For a collector who is trying to put together an entire set of Buffalo Nickels, the real challenge is finding these coins in excellent condition. Because Buffalo Nickels were so heavily circulated, many of them have survived in poor condition. Knowing this, it makes a lot of sense that collectors are willing to pay top-dollar for a Buffalo Nickel in great condition.
For collectors, getting their hands on a 1928 Buffalo Nickel is not enough; they would only like to get their hands on those coins in excellent shape. Because of this, collectors will carefully analyze every coin they receive in hopes of finding any blemishes or other signs of wear.
When the process of judging a coin’s condition is done by an official company, this is known as grading. Grading requires a lot of time and money, so we have included below specifications aimed at giving you a better idea of what a Buffalo Nickel of a certain grade will look like.
Uncirculated: Uncirculated Buffalo Nickels are flat-out the best of the best. These coins were never on the open market and, as such, never suffered the damage most other Buffalo Nickels were subjected to. As you might expect, these coins are incredibly difficult to find which means that they often sell for an extremely large price.
Extremely Fine: This is the grade given to Buffalo Nickels that were circulated, but only for an extremely limited amount of time. These pieces will show some light signs of wear, but will generally appear to be in great condition and free from any major blemishes.
Fine: A coin that is graded to be Fine is one that spent a decent amount of time on the open market. Due to their exchanging hands thousands of times, some moderate wear and tear will be able to be seen with the naked eye. The heaviest wear almost always can be found near the cheekbone of the depicted Indian and around the buffalo’s front legs.
Good: This is the grade given to coins that were circulated for an extremely long time. Exchanged possibly millions of times, these coins have had their surfaces worn down until they are smooth and have a lot of scratching. Looking at this coin from the naked eye, it is easy to tell just how many times this coin exchanged hands throughout its lifetime.
If you want to give the Buffalo Nickel a price, there are two factors to consider: type and condition. First, because there were three different types of this coin minted every year, the exact type of coin plays into the price you will pay. The condition is another factor and will also affect the price heavily. The chart below exists in order to give you a better idea as to what you might be paying for a 1928 Buffalo Nickel given its type and grade.
1928 Buffalo Nickel
|1928 S||$1.75||$2.50||$26||$110||Source: Red Book|