1937-D Three-Legged Buffalo Nickel

The 1937-D Three-Legged Buffalo Nickel is arguably the most famous die variety in the entire Buffalo Nickel series, and one of the best-known error/variety coins in all of American numismatics. Its distinctive, easily described defect, a missing front leg on the reverse bison, makes it instantly recognizable even to collectors outside the specialty.

The coin's fame stems from the dramatic visual nature of the error combined with the popularity of the Buffalo Nickel design itself. It remains one of the entry points many collectors use to learn about mint errors and die varieties more broadly.

Because the error was created by excessive die polishing rather than a design flaw from the Mint's engravers, only coins struck from that specific damaged die pairing show the missing leg, making genuine examples a finite, well-documented group.

At the Denver Mint in 1937, a working die used to strike Buffalo Nickels developed clash marks or damage, and a Mint employee attempted to remove the imperfection by polishing the die. In doing so, the front leg of the bison on the reverse was inadvertently polished away entirely, leaving the animal appearing to stand on only three legs.

Coins struck from this over-polished die entered circulation before the error was caught, and the distinctive variety was soon noticed by sharp-eyed collectors and dealers, quickly becoming one of the most talked-about error coins of its era. The Buffalo Nickel series itself, designed by James Earle Fraser and issued from 1913 to 1938, was nearing the end of its run when this variety appeared.

The fame of the 1937-D Three-Legged variety helped popularize the broader hobby of error and variety collecting, inspiring later collectors to search rolls and circulation finds for similarly dramatic die varieties in other series.

Like all Buffalo Nickels, the obverse shows a right-facing Native American portrait with "LIBERTY" and the date, while the reverse depicts an American bison standing on a mound with "UNITED STATES OF AMERICA," "E PLURIBUS UNUM," and "FIVE CENTS" around it. On the Three-Legged variety, the bison's front right leg is missing or reduced to only a faint stub, most clearly visible where the leg should meet the body.

The coin is struck in copper-nickel with a plain edge and standard nickel diameter, and carries a small "D" mint mark below "FIVE CENTS" on the reverse, confirming Denver origin. Because later die states show varying degrees of leg removal, some examples show a very faint trace of the leg while others show it completely gone.

Collectors should be cautious of altered or artificially modified nickels made to mimic the variety, and should compare suspect coins carefully against verified reference images or seek professional grading service authentication, since the coin's fame has made it a frequent target for imitation.

The 1937-D Three-Legged Buffalo Nickel commands a substantial premium over an ordinary 1937-D nickel due to its fame and the specific, verifiable nature of the die variety. Even well-worn examples showing significant circulation wear still bring meaningful sums due to strong collector demand.

Value climbs sharply with grade, since sharp, well-preserved examples showing a clear, unmistakable missing leg are considerably harder to find than heavily worn survivors. Because of its popularity, professionally graded and authenticated examples generally command the most buyer confidence.

As one of the most recognized error/variety coins in the hobby, the Three-Legged Nickel's value is driven primarily by its fame and visual drama rather than true numerical rarity, though genuine, well-documented examples remain consistently in demand.