Coin Specifications

Category: Buffalo Five Cents (1913-1938)
Mint: Denver
Mintage: 7,020,000
Catalog: KM-134
Obverse Designer: James Earle Fraser
Reverse Designer: James Earle Fraser
Composition: Copper-Nickel
Weight: 5.00 Grams
Diameter: 21.2mm
Edge: Plain
Numismatic specification data provided by Krause Publications NumisMaster.
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1938 D BUFFALO 5C MS obverse 1938 D BUFFALO 5C MS reverse


  
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Description & Analysis

The nation slipped back into recession during 1937-38 on its way to full recovery a few years later. This terminated the demand for new nickels from the Philadelphia and San Francisco Mints, and only Denver struck Buffalo Nickels in this last year of issue. These, too, were evidently not needed at the time, as collectors beseeched the Treasury to obtain specimens, while banks continued to dispense fresh rolls of 1936- and 1937- dated nickels. When the 1938 D Buffalo Nickels did finally begin to be distributed, thousands of rolls were immediately put away by speculators, as it was by then known that this coin was the last of its line.

By far the most common Buffalo Nickel in Mint State condition, worn examples are actually more rare. This issue comes every which way, with both well struck and mushy coins surviving in equal numbers. The only constant is that 1938 D Buffalo Nickels were wonderfully lustrous as made. This has greatly boosted the certified population of high grade coins, though many of these are less than fully struck and should be avoided by the discriminating collector.

There are several repunched mintmark varieties, as well as a few overmintmarks, too. Due to the great availability of 1938 D Buffalo Nickels, these varieties have a strong following and are thus treated in separate entries following this one.

GRADE SUMMARY

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Price Guide

Last Updated: 4/3/2014

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1938 D BUFFALO 5C MS
  GVGFVF4045505355586061626364656667686970
Base $ 3.75 4.00 4.25 4.50 5.50 5.50 9.00 10.00 11.50 15.00 20.50 22.50 25.00 30.00 34.00 57.00 70.00 180 11500 - -
$ - - - - - - 24.00 28.00 33.00 38.00 62.00 85.00 1235 27350
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Census

 
NGC GRADE SUMMARY

Total Graded: 31113
Low Grade: PrAg
Average Grade: 65
High Grade: 68


Upcoming Auctions

A random selection of NGC coins is shown below.

Images
Date
Grade
Auction House
Sale / Lot
12/30/2014 MS 67   Heritage Auctions Internet Coin Auction Session(1), 131452/Lot# 29070
1/12/2015 MS 68   Heritage Auctions 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando Session(1), 1216/Lot# 3666


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
1/15/1997 NGC MS 67   Teletrade Auction 0911, 911/Lot# 1183 $109.00
10/9/2008 NGC MS 65   David Lawrence Rare Coins Thursday - Internet Auction # 290, 296/Lot# 5287 $57.50
3/10/2009 PCGS MS 65   Heritage Auctions Tuesday Internet Coin Auction #29033, 29033/Lot# 23083 $42.00
8/14/2011 PCGS MS 66   GreatCollections GreatCollections Coin Auctions 08/14/2011, 131/Lot# 14956 $59.40
5/20/2012 NGC MS 66   Heritage Auctions Internet Coin Auction Session(2), 131222/Lot# 20695 $53.00
2/3/2013 PCGS MS 65   Goldberg February 3-6, 2013 The Pre-Long Beach Auction, 72/Lot# 1223 $86.00
5/19/2014 NGC MS 66   Stack's Bowers iAuction 3482, 6031/Lot# 20105 $45.83


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