Coin Specifications

Category: Buffalo Five Cents (1913-1938)
Mint: San Francisco
Mintage: 1,200,000
Obverse Designer: James Earle Fraser
Reverse Designer: James Earle Fraser
Composition: Copper-Nickel
Weight: 5.0000g
Diameter: 21.2mm
Edge: Plain
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1931 S 5C MS obverse 1931 S 5C MS reverse
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Description & Analysis

The San Francisco Mint had no legitimate reason for coining nickels in 1931, as the demand for additional pieces simply didn't exist at the time. Indeed, a mere 194,000 were coined there in January, at which point production ceased. In November Acting Mint Director Mary O'Reilly wrote to the SFM superintendent pointing out that this small production would lead to an extraordinary demand from collectors and suggesting that he suspend dime production and churn out only nickels for the remaining weeks of 1931. This was done, resulting in a total mintage of 1,200,000 1931 S nickels. These coins sat idle in vaults for the next several years, not being released in quantity until 1935. Speculators jumped on this low-mintage issue, and many thousands were preserved in Mint State.

It is actually among the more common Buffalo Nickels in such grades, and worn examples are less often seen than new ones. In his book The Complete Guide to Buffalo Nickels, David W. Lange observed that "1931-S is to the Buffalo Nickel series what 1950-D is to the Jefferson Nickels."

This has done nothing to lessen the demand, though it does keep this low-mintage coin from becoming expensive. While a few sharply struck examples are known, most are a bit soft at their centers. Nearly all, however, have excellent luster.

Several doubled-die reverse varieties are known, but these have attracted little interest. More appealing is a distinct S/S variety.

GRADE SUMMARY

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Price Guide

Last Updated: 8/30/2019

Click on a price to see historical prices, comparison charts and trends.

1931 S 5C MS
  GVGFVFXF505355586061626364656667686970
Base $ 17.00 20.00 22.00 25.00 35.00 50.00 52.00 58.00 65.00 68.00 75.00 90.00 115 170 310 850 28750 - - -
$ - - - - - - - 95.00 125 215 520 1700 - -

NGC Price and Value Guides Disclaimer

Disclaimer: The prices listed in the various NGC Price and Value Guides are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. Prices provided are averages, not specific prices for individual coins. Further, because these prices are only updated from time to time, they do not reflect short term pricing trends, which are quite common and are often quite dramatic, given the volatile nature of the collectible coin marketplace. This is especially true for rare coins, where there are fewer sales and greater variations in sale prices. For all of these reasons, the prices in these guides are designed to serve merely as one of many measures and factors that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and — when appropriate — expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Guides. By using the NGC Guides, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the Guides.

Census

 
NGC GRADE SUMMARY

Total Graded: 2430
Low Grade: G
Average Grade: 62
High Grade: 67

The chart showing G series, VG series, F series, VF series, 40 series, 45 series, 50 series, 53 series, 55 series, 58 series, 60 series, 61 series, 62 series, 63 series, 64 series, 65 series, 66 series, 67 series.
NGC CENSUS DETAIL Last Updated: 6/15/2021 1931 S 5C MS
 PrAgGVGFVF4045505355586061626364656667686970Total
Base-1713122617826243940-835168935778914---2430
-----------------2----2
---------------9861---24
-----------------1----1
Total-1713122617826243940-8351689447861005---2457
 -0%0%1%5%2%3%1%1%2%2%-0%1%7%38%32%4%0%--- 

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NGC Auction Central Disclaimer

NGC Auction Central Disclaimer

Disclaimer: The auction prices realized listed in the NGC Auction Central are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. The auction data listed by NGC may occasionally contain typographical or input errors that can result in incorrect prices realized appearing on the NGC website. Therefore, the prices realized listed in NGC Auction Central are designed to serve merely as one of many measures and facts that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and – when appropriate – expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Auction Central. By using the NGC Auction Central, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the NGC Auction Central.