Lot 066Coin values
1938-D Buffalo Nickel
DENVER (D) · 75% COPPER, 25% NICKEL · 7,020,000 STRUCK
Worth about $0.90–$3.75 circulated and $145–$195 in MS-65.
The 1938-D Buffalo Nickel is a common date from the Denver Mint, with 7,020,000 pieces struck. In circulated grades (G-4 to EF-40) our estimate is $0.90–$3.75, and a well-preserved MS-65 example is estimated at $145–$195.
Type coin shown: 1935 Buffalo nickel. We do not yet hold a licensed photograph of the 1938-D Buffalo Nickel itself, so this is the nearest dated coin of the same design. The design is the same; the date, mint mark and condition of your coin will differ. Photograph: 1935 Buffalo nickel (photograph by Bobby131313). Public domain, credit Bobby131313, via Wikimedia Commons.
- Mint
- Denver (D)
- Composition
- 75% copper, 25% nickel
- Mintage
- 7,020,000
- Weight and size
- 5 g · 21.2 mm
- Designer
- James Earle Fraser
Scarcer than 62% of the 64 issues in the Buffalo series with a recorded mintage. 7,020,000 struck. Mintage is the number struck, not the number that survive.
D over S
A variety with the D punched over an S is known. Check under magnification.
Date and mint mark
The date sits on a raised area and wears away first. Dateless coins sell for a few dollars, and the mint mark is on the reverse below FIVE CENTS.
Type 1 and Type 2
In 1913 the reverse changed from a raised mound (Type 1) to a flat line (Type 2). 1913-S Type 2 is a key date.
About the 1938-D Buffalo
How much is a 1938-D Buffalo Nickel worth?
Lustre's editorial estimate (Oct 2026) is $0.90–$3.75 for circulated examples (G-4 to EF-40) and $145–$195 in MS-65. These are estimates, not an appraisal or market data. A coin in the grade you hold may sell for less at a dealer, who needs a margin.
What is a 1938-D Buffalo Nickel made of?
It is 75% copper, 25% nickel and weighs 5 g. At today's metal prices the metal is worth a few cents, so any value comes from collector demand.
How many 1938-D Buffalo Nickels were minted?
7,020,000 were struck at the Denver Mint.
Where is the mint mark on a Buffalo Nickel?
On the reverse, below the words FIVE CENTS. Philadelphia coins have no mint mark.
Is my 1938-D Buffalo Nickel rare?
No. It is a common date. Its value depends mostly on grade, originality and, for this metal, the melt value.
More Buffalo Nickel values
Where these numbers come from
Buffalo nickel, Wikipedia: composition, weight, diameter, edge, designer, mint mark position.
Buffalo nickel mintage, Landofcoins.com: mintage by year and mint.
Lustre editorial grade-value estimates, Lustre: grade value ranges (estimates, not market data).
gold-api.com spot prices (reference level for estimates), gold-api.com: reference spot prices behind the estimates.
How the estimates are made. Facts reviewed Oct 2026.