1937-D 5C Buffalo Nickel, 3 Legs NGC AU58 (CAC)

Here’s a great piece to add to your collection. This variety has been a hot-ticket item since it was first discovered in 1939.  The 1937-D Three-Legged Buffalo nickel has been listed in the Guide Book for decades, and is judged to be an important part of a complete set of the Buffalo nickel series.

It was created when a Mint workman was resurfacing the reverse die in order to remove clash marks. The bison's front right leg disappeared, although the hoof is still visible. The entire reverse design is a little smaller than usual, with E PLURIBUS UNUM being well-separated from the back of the buffalo.

NGC has graded 1,427 examples as AU58 with 1,772 finer. Collectors Universe prices this variety at $2,850.00 in AU58. In CAC, there are 245 in AU58 with 219 finer. CAC gives the 3-legged Buffalo a price of $2,850.00 in AU58.

Writes Ron Guth in PCGS Coinfacts, “The 1937-D 3 Legs variety resulted from over-zealous polishing of a worn reverse die. The front foreleg was almost completely removed and the back leg developed a ‘moth-eaten’ appearance … A diagnostic feature of this variety is the ‘stream’ that appears beneath the bison's belly. If this feature is not present, beware of an altered coin.”

Black Diamond on the 1901 U.S. $10 bill, by artist Charles R. Knight. Black Diamond was the bison depicted on the Buffalo nickel. Photo: Wikimedia Commons.