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How Valuable is My Buffalo Nickel?

Buffalo Nickels / Indian Head Nickel

Your Guide to Understanding the Value of Buffalo Nickels

Have you stumbled upon a Buffalo Nickel in your attic, or perhaps among your great-grandparent’s belongings, and wondered if it’s worth more than five cents? This iconic piece of American coinage is not only a fascinating slice of history, but it also has potential monetary value for collectors. While many Buffalo Nickels are common and hold modest values, some could be worth hundreds or thousands of dollars.

This guide will walk you through what makes Buffalo Nickels valuable, key dates to look out for, how to determine their worth, and tips to avoid potential scams.

A Brief History of the Buffalo Nickel

The Buffalo Nickel, officially known as the Indian Head Nickel, was produced from 1913 to 1938. Designed by James Earle Fraser, it features a rugged depiction of a Native American on the obverse (heads) and an American bison on the reverse (tails). The Native American portrait is a composite of three chiefs from different tribes, while the buffalo on the reverse may have been modeled after Black Diamond, a bison at the Bronx Zoo, though this claim remains unconfirmed.

Initially, the design led to the denomination “FIVE CENTS” wearing off prematurely. To address this, the U.S. Mint modified the coin mid-1913, thus creating two design types for that year. Today, Buffalo Nickels are beloved by collectors for their rich history and artistry.

What Determines the Value of a Buffalo Nickel?

1. Condition (Grading)

The condition of a Buffalo Nickel is vital in determining its value. Coins are graded on a scale ranging from Poor (P-1) to Mint State (MS-70). The better preserved the coin, the higher its value. To evaluate a Buffalo Nickel’s grade, focus on key wear points:

  • The buffalo’s horn on the reverse.
  • The cheekbone and braid on the Native American’s portrait.

For instance:

  • Good (G): Most details are worn, the date may be faint, but major design elements are visible.
  • Extremely Fine (EF): Details like the buffalo’s horn and the Native American’s braid remain sharp.
  • Uncirculated (MS): No wear, with the coin appearing as though it just came from the mint.

2. Rarity (Key Dates and Mint Marks)

Each Buffalo Nickel has a date and, in some cases, a mint mark indicating where it was produced (Denver “D,” San Francisco “S,” and Philadelphia with no mint mark). Some dates and mint mark combinations are harder to find due to lower mintages, making them highly sought after by collectors.

Key dates include:

  • 1913 Type 1 & 2: The first-year design changes make these coins distinct.
  • 1914-D and 1914-S: Limited production in Denver and San Francisco.
  • 1921-S: A rare coin due to low mintage.
  • 1937-D “Three-Legged”: A famous error coin where the buffalo’s front leg is missing due to die over-polishing.

3. Errors and Varieties

Certain error coins and die varieties significantly increase a Buffalo Nickel’s value:

  • 1937-D “Three-Legged” Error: Look carefully at the buffalo’s legs; if one is missing, it might be worth thousands of dollars.
  • 1916/16 Doubled Die: Characterized by doubling in the date, this error is valued at tens of thousands.
  • 1925 Struck on a Dime Planchet: A rare double denomination coin that is highly coveted.

4. Overall Demand

Some coins hold value simply due to their cultural relevance or inclusion in iconic collections. The Buffalo Nickel’s classic design ensures ongoing interest from numismatists.

Key Buffalo Nickels to Look For

Here are the most valuable Buffalo Nickels along with what makes them special:

Year and Mint Mark Highlight Estimated Value
1913 Type 1 First-year design $20 – $1,000+
1913 Type 2 Revised design $20 – $1,200+
1914-D/S Low mintage $150 – $15,000+
1921-S Rare issue $100 – $12,000+
1926-S Exceptionally scarce $250 – $6,000+
1937-D “Three-Legged” Famous error $500 – $20,000+

Keep an eye out for these coins in pocket change, flea markets, or old family keepsakes.

Debunking Myths About Buffalo Nickel Values

It’s easy to think every old coin might be worth a fortune. Unfortunately, not all Buffalo Nickels hold high value. Many common-date coins in circulated condition may only be worth 50 cents to a few dollars. Factors like heavy wear, lack of visible date, or a high mintage batch can diminish their worth.

Don’t set unrealistic expectations. While some coins are worth thousands, patience and understanding are key when dealing with collectibles.

Avoiding Scams and Hoaxes

The world of coin collecting has its fair share of scams. Here’s what to watch out for:

  • Overpriced Common Coins: Be wary of sellers claiming a common Buffalo Nickel is rare and demanding high prices.
  • Fake Errors: Some may attempt to tamper with coins, creating “errors” like a missing leg.
  • Exaggerated Grading Claims: Coins listed online might not match the described grade.

Tips to Steer Clear of Scams:

  • Always buy from reputable dealers or marketplaces.
  • Reference guides like the “Red Book” to verify a coin’s value.
  • Seek professional appraisal for potentially valuable coins.

How to Determine the Value of Your Buffalo Nickel

Follow these steps to evaluate your coin:

  1. Identify the Date and Mint Mark: Located on the obverse near the bottom and, for mint marks, on the reverse below “FIVE CENTS.”
  2. Check the Condition: Assess the amount of wear and key design details.
  3. Consult Price Guides: Resources like “A Guide Book of United States Coins” provide reliable pricing.
  4. Seek Professional Appraisal: A trusted dealer or grading service (like PCGS or NGC) can provide an accurate evaluation.

Where to Sell Your Buffalo Nickel

If you decide to sell your Buffalo Nickel, consider these options:

  • Local Coin Shops and Dealers: Convenient and trustworthy.
  • Online Marketplaces: Sites like eBay may offer wider audiences but require caution.
  • Auctions: Best suited for high-value or rare coins.

DON’T MISS: US V THEM

When selling, it’s wise to obtain multiple appraisals and offers. For peace of mind, rely on experienced professionals for high-value items.

The Lasting Legacy of Buffalo Nickels

Buffalo Nickels are more than just coins; they’re windows into America’s past. While not every nickel will make you rich, the historical significance and artistry of these coins ensure they remain popular among collectors.

Visit California Gold & Silver Exchange for a Free Appraisal

Found a Buffalo Nickel in your pocket or collection? Curious about its value? Bring it to California Gold & Silver Exchange  in Upland, CA  for a free expert appraisal! We’ll help you uncover its story and worth. Contact us today or visit our location!

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Most Common Ways Gold Dealers and Pawn Shops Try to Confuse You

The word "Beware" is lined with gold letters on wooden planks. 3D illustration image

Avoid Rip-Offs When Buying or Selling Gold

If you’ve ever tried to sell or buy gold, you know the process can be confusing and overwhelming. Unfortunately, some gold dealers and pawn shops take advantage of this confusion, using various tactics to undervalue what you’re selling or overcharge for what you’re buying. Without the right knowledge, you could leave with much less money in your pocket—or with gold that’s worth far less than you thought.

This guide will expose the most common tricks used by some gold dealers and pawn shops, explain how you can protect yourself, and help you make informed decisions when buying or selling gold. By the end of this blog, you’ll be armed with all the tools you need to get the best deal and avoid being taken advantage of.

Tricks Gold Dealers and Pawn Shops Use to Rip You Off

Not all gold dealers and pawn shops are unethical, but some rely on deceptive tactics to boost their profits. Here are the most common ways they try to confuse or mislead customers:

1. Understating Karat Value

Gold’s value is based on its purity, which is measured in karats. For example, 24K gold is pure gold, while lower karats (like 14K or 18K) indicate a mix of gold and other metals. Some dealers may claim your 22K gold is only 20K or even 18K, drastically reducing its value.

2. Incorrect Alloy Valuation

Gold jewelry often contains other metals like silver or copper. Dishonest buyers might ignore the value of these alloys when calculating what to pay you, further reducing their offer.

3. Hidden Fees

Unexpected fees, such as melting charges or refining costs, can eat into your payout. While these may be legitimate in some cases, shady dealers might inflate these costs without disclosing them upfront.

4. Using Pennyweight Instead of Grams

Gold is typically weighed in grams, but some shops use pennyweight, a less familiar measurement. One pennyweight (dwt) equals 0.643 grams, so if the dealer quotes a price per gram but weighs your gold in pennyweight, they’ll effectively pay you less. Always ask to see the scale and check the measurement unit.

This is the actual form that one of our customers brought in after visiting a competitor. She felt she had been the victim of an attempted rip-off and she wanted a second opinion from an expert. We weighed her gold and discovered that the numbers written on the form were the values in "pennyweights", not grams. Had she not left the store and came to us, she would have been swindled out of more than $300.

This is the actual form that one of our customers brought in after visiting a competitor. She said something felt “off” and she wanted a second opinion from an expert. We had weighed her gold and discovered that the numbers written on the form were the values in “pennyweights”, not grams. Had she not left the store and came to us, she would have been swindled out of more than $500.

This form is especially deceptive because it give the illusion that the paperwork somehow validates the process and makes it feel more “official.” However, in her case, the weights were noted in “pennyweights,” not grams. The form says “Circle One: “pennyweights / grams”, however in our customer’s case, the employee at our competitors shop failed to circle pennyweights. The design of the form is also misleading. The weight appears to be listed under “grams” implying that all weights are listed in grams, while the dollar amount appears under “pennyweight”. This is a great reminder to read all forms carefully!

5. Unclear Valuation Processes

Some pawn shops and gold dealers are intentionally vague about their valuation methods, making it difficult for you to compare their offer with others.

6. Discounted Prices

Pawn shops often pay less than other gold buyers because they operate as short-term lenders. They need to cover their overhead costs and minimize risk, so they rarely offer you the best deal.

7. Overcharging for Gold

When buying gold, some dealers inflate their prices by adding hefty markups or misleading you about the gold’s purity. Make sure your gold dealer uses an XRF X-Ray Analyzer.

8. Counterfeits and Gold-Plated Items

Counterfeit gold or gold-plated items are sometimes passed off as genuine. While reputable shops have tools to verify authenticity, others might not check thoroughly.

9. Downplaying Sentimental Value

Some buyers don’t recognize the sentimental value of gold items, focusing solely on their monetary worth. This can lead to offers much lower than what you expect.

10. Quick and Dirty Tests

Some shops may rely solely on basic tests, like magnet checks or visual inspections, which aren’t foolproof. Advanced tests like acid tests or X-ray fluorescence provide more accurate results.

What to Know Before Buying or Selling Gold

If you’re buying or selling gold, preparation is key. Here’s what you need to know to ensure you get a fair deal:

  1. Research the Current Spot Price

Gold’s market value fluctuates daily, so check the current spot price before heading to a dealer. Sites like Kitco or GoldPrice.org provide real-time updates.

  1. Understand Gold Measurements

Learn how gold purity is measured (karats) and familiarize yourself with weight units (grams vs. pennyweight). This will help you understand the dealer’s calculations.

  1. Get Multiple Quotes

Don’t settle for the first offer. Visit several buyers and compare their quotes to ensure you’re getting the best deal.

  1. Ask About Fees

Before selling, ask if there are any hidden fees, such as melting or refining charges. Transparent buyers will disclose all costs upfront.

  1. Inspect Coins Carefully

If you’re selling gold coins, make sure they’re evaluated for both their gold content and collector value. Important: Never clean your coins, as this can drastically reduce their value.

  1. Verify Authenticity When Buying

When purchasing gold, ask for documentation proving its authenticity. Look for hallmarks or certifications that confirm its purity.

Pawn Shops vs. Gold Exchanges: Which is Better?

When it comes to selling or buying gold, where you go matters. Here’s a quick comparison:

Pawn Shops

  • Pros: Convenient, quick transactions, no appointment needed.
  • Cons: Generally offer lower prices, often limited knowledge of gold market trends, and may not provide a thorough valuation.

Gold Exchanges or Specialized Gold Dealers

  • Pros: Better understanding of gold’s value, transparent pricing, and typically higher payouts.
  • Cons: May require appointments, slightly longer process.

Bottom line? If you’re looking for the best price and a trustworthy evaluation, gold exchanges or specialized gold dealers are usually the better choice.

How to Guarantee the Best Deal

To maximize your payout when selling gold or get fair prices when buying, follow these tips:

  1. Do Your Homework

Research reputable dealers in your area. Look for customer reviews and testimonials to ensure credibility. Check online sites like Yelp and Google Reviews for customer ratings.

  1. Look for Certification

Reputable gold buyers have their scales certified by local weights and measures agencies. Don’t hesitate to ask to see their certification.

  1. Ask for Full Transparency

Dealers should be willing to explain their valuation process, the purity of your gold, and how they determined their offer.

  1. Avoid Long-Term Storage Fees

Some dealers offer to “hold” your gold for safekeeping but charge hefty storage fees over time. Steer clear of these arrangements unless absolutely necessary.

  1. Consider Selling Online

Online gold buyers often have lower overhead costs, enabling them to offer better prices. However, make sure the company is legitimate and well-reviewed.

Finding a Gold Dealer You Can Trust

If you’re unsure where to start, here are a few tips for finding a trustworthy gold dealer:

  • Check Reviews: Look for online reviews, ratings, and testimonials from previous customers.
  • Ask for Recommendations: Word-of-mouth referrals from friends or family can be invaluable.
  • Look for Longevity: Established businesses with years of experience are often more reliable.
  • Visit California Gold & Silver Exchange: Known for its transparency and expertise, CGSE offers fair prices and educates customers on how to avoid common scams.

Final Thoughts: Protect Your Investment

Whether you’re buying or selling gold, knowledge is your best defense against misleading practices. By understanding common tactics used by gold dealers and pawn shops, learning how to evaluate offers, and working with a trusted exchange, you can ensure a fair and profitable transaction.

Need expert guidance? Visit California Gold & Silver Exchange or contact us for advice. Don’t risk getting shortchanged—make informed decisions and protect the value of your gold.

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How to Avoid Getting Ripped Off When Selling Your Gold Jewelry

How to Avoid Getting Ripped Off When Selling Your Gold Jewelry - close up of gold jewelry held in two hands close together

When it comes to parting with your old or unused gold pieces, knowing how to avoid getting ripped off when selling your gold jewelry is essential to protecting your investment and ensuring you get a fair deal.

There are a lot of places to sell your gold, but not all of them have your best interest at heart. If you’re not careful, you could end up getting far less than your jewelry is worth.

Luckily, with a bit of knowledge and preparation, you can avoid getting ripped off and make sure you receive the right value.

Here are some essential things you can do to help you confidently sell your gold jewelry without falling victim to common scams or shady practices …

5 Ways to Avoid Getting Ripped Off When Selling Your Gold Jewelry

1. Know What Your Gold is Worth

One of the easiest ways to protect yourself when selling gold jewelry is by understanding its value before you visit a buyer. Here’s how to do that:

  • Check the Karat. Look for a stamp on your jewelry that indicates its gold purity. Common markings include 10K, 14K, 18K, or 24K. The higher the karat, the more pure gold the piece contains … and the more it’s worth.
  • Weigh It. Gold is priced by weight, typically in grams. While your bathroom scale won’t help, you can get an idea of your jewelry’s weight by using a small kitchen scale or visiting a reputable jeweler for a precise measurement.
  • Watch the Market. The price of gold fluctuates daily. Before selling, check the current spot price of gold to get a sense of what your jewelry could be worth. This will help you understand what to expect from offers.

Knowing these basic facts will empower you when speaking with buyers and give you a ballpark idea of your jewelry’s true value.

2. Get Multiple Offers

Never settle for the first offer you receive. Different buyers have different overhead costs and business models. And this can lead to significant variations in what they’re willing to pay. Here’s what you can do:

  • Visit Several Buyers. Go to a few reputable gold buyers in your area and get appraisals from each one. This will give you a range of offers to compare.
  • Ask About Their Process. A legitimate buyer should be transparent about how they determine the value of your jewelry. If a buyer isn’t upfront about their methods or you feel pressured to accept their offer, that’s a red flag.

Taking the time to shop around can significantly increase your chances of getting a fair price for your gold.

3. Research Reputable Buyers

Choosing the right buyer is key to avoiding scams. Here’s how to find a trustworthy buyer:

  • Look for Established Businesses. Buyers who have been in business for a long time are more likely to be reputable. Check their reviews, ask for recommendations, and visit their websites to learn more about their experience and customer service.
  • Check Credentials. Reputable buyers are often members of professional organizations like the Better Business Bureau (BBB) or the American Numismatic Association (ANA). They also may have professional associations with third-party certification or grading organizations like Numismatic Guaranty Company (NGC) and Professional Coin Grading Service (PCGS). Being part of these groups shows that the business adheres to ethical standards.
  • Read Reviews. Customer reviews can give you valuable insights into a buyer’s reputation. Look for consistent positive feedback, and pay attention to any negative reviews or complaints.

At California Gold & Silver Exchange, for example, we’ve built our reputation on trust, transparency, and offering some of the highest payouts in Southern California. We believe that selling your gold jewelry should be a smooth, stress-free process.

4. Avoid Common Scams

Unfortunately, some buyers prey on sellers who aren’t informed. Here are a few common scams to watch out for:

  • Lowball Offers. Some buyers may offer significantly less than your gold is worth, hoping you don’t know any better. Always get multiple offers to ensure you’re being treated fairly.
  • Hidden Fees. Some buyers will try to charge hidden fees for things like testing or appraisals. A reputable buyer will clearly explain any fees upfront.
  • Mail-In Services. While some mail-in services are legitimate, many are not. If you choose to sell gold through the mail, make sure the company has a solid reputation and provides insured, trackable shipping. Always be wary of sending valuable items to unfamiliar companies.

5. Understand the Selling Process

To avoid surprises, it’s important to understand how the gold-selling process works. Here’s what you can expect from a reputable buyer:

  • Free Appraisals. Most reputable buyers will offer free appraisals. They will assess the purity and weight of your gold and provide you with an offer based on the current market price.
  • Instant Offers. Many buyers will make an offer on the spot, and if you accept, you’ll usually be paid immediately — either in cash or by check. An instant offer isn’t a bad thing if the buyer is ethical. Just make sure the offer is fair before accepting.
  • No Pressure. A reputable buyer will never pressure you to sell. If you feel rushed or uncomfortable, it’s perfectly fine to walk away.

Selling Your Gold Jewelry Should be a Positive Experience

Selling your gold jewelry can be a great way to unlock its hidden value, but only if you’re equipped with the right knowledge to avoid getting ripped off. By understanding your jewelry’s worth, getting multiple offers, and choosing a trustworthy buyer, you can ensure a smooth and profitable experience.

At California Gold & Silver Exchange, we pride ourselves on providing transparent, no-pressure evaluations and offering some of the best payouts in Southern California. Whether you’re selling gold, silver, or platinum, we’re here to guide you every step of the way.

Visit us today for a free, no-obligation appraisal, and let us help you get the most out of your gold jewelry!

Call (909) 985-4653 for current pricing or to schedule an appointment for a personalized consultation. Or click here for our address and hours.

 

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Do We Buy Error Coins or Variety Coins?

Wheat Back Penny

Does California Gold and Silver Exchange Buy Error Coins or Variety Coins? 

At California Gold and Silver Exchange we often get phone calls inquiring about error coins or variety coins.

  • We only buy error coins that are graded by PCGS or NGC.

We do not buy error coins that have not been certified as an error coin. The reason is that in coin making there are different dies that are used for a coin. The age of the die or the place that the coin was minted may be the reason that the coin has a slight difference. This may or may not be an error to the coin. The coin world will often have error’s that are recognized globally.

I saw an online video that said my coin might be valuable. Is it a scam?

With the onset of the internet and YouTube we have seen an increase of videos that identify different “error’s” of coins. These videos are often click bait, used to get people to watch the video and/or subscribing to the video channel and then making money for the video maker. We like to say it is similar to fake news as the information seems to be made up and not from professional coin dealers.

 

What is an Error Coin?

An Error Coin is a coin that has an unintentional mistake or abnormality that affects either a single coin or a small batch of coins. They are made as a result of human or mechanical error during production in what is known as the “striking” process. In most cases the Mint will make identify and destroy these mistakes, but sometimes coins with one abnormality, or sometimes even multiple mistakes will enter into circulation. This makes the coin very rare, and thus collectible.

Types of Coin Errors
Errors are broken up into three major categories.

Planchet Error
– Clipped Planchet when a portion of the coin disc is missing 10% or more of its material.
– Blank Planchet when a portion of the planchet remains unstruck.
– Lamination Error where the coin blank is defective in some way.
– Wrong Planchet when a wrong planchet meant for another denomination or containing the wrong metal is used.

Die Error
– Defective Die are instances where the die used to strike the coin is damaged in some way.
– Cud results from a broken die.

Strike Error
– Off Center strike – a coin that has been struck out of the collar and incorrectly centered with part of the design missing.
– Multiple Strike – a coin with at least one additional image from being struck again off center
– Broadstrike – a coin that was struck outside the retaining collar.
– Brockage – a mirror image of the design.

 

What is a Variety Coin?

A variety coin is created when intentional and unintentional changes to the die (or template) occur before the coins are struck. Because the die itself is at fault, this type of error affects a small batch of coins, rather than just a single coin. Collectors try to add every coin from the series into their collection.

Some Famous Variety coins
1955 Double Die Lincoln Cent
1982-D Small Date Copper
1942/1-P&D Mercury Dime
1937-D Buffalo Nickel 3 leg

 

Do You Buy Error Coins or Variety Coins that are not Certified? 

  • We only buy error coins that are graded by PCGS or NGC. 
More About PCGS & NGC Coins
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Beware of these Gold Scams

The word "Beware" is lined with gold letters on wooden planks. 3D illustration image

Scammer Targets Gas Station and Casinos: 

There is a man going around to gas stations and casinos scamming people with fake gold necklaces and rings. The guy’s story at the gas station is that he is stranded and he needs to get back home. He has his family with him and he drives a nice SUV like an Escalade or similar. He offers the item of jewelry that he is wearing for the person to give him some cash so he can purchase gas. The item that he is willing to trade is marked either 14k or 18k in a big marking that you can read with the naked eye. The mark (or intended victim of the scam) then thinks that they are going to get this “gold” for a little amount and then be able to come into a business like ours and sell the item and make a profit. The items that they are selling are not gold. They are made up of copper, nickel, and zinc and contain no precious metals.

 

How to Stay Safe:

Beware of the warning signs to avoid getting scammed:

  • Man with a story about being stranded or out of gas approaches you and asks for help
  • Gas Station, Casino, or Similar Location
  • Expensive SUV with others inside who are referenced as his Family
  • He offers to give you a ring or necklace that he is wearing which is very clearly marked as 14k or 18k Gold

If you are the intended victim of the scam, politely decline to help the man. As soon as you are in a safe location, call 911 to report the crime and mention this article if needed.

Help spread the word by sharing this story with your friends and family.

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