1923-S Buffalo Nickel Value
A 1923-S Buffalo Nickel is worth roughly $1.75 to $567 depending on its condition. Exceptional, certified pieces regularly exceed the top of that range.
1923-S Buffalo Nickel value by grade
| Grade | Estimated value |
|---|---|
| Good (G-4) | $1.75 to $2.95 |
| Very Good (VG-8) | $2.55 to $4.30 |
| Fine (F-12) | $4.40 to $7.45 |
| Very Fine (VF-20) | $8.00 to $13.50 |
| Extremely Fine (XF-40) | $14.50 to $24.50 |
| About Uncirculated (AU-50) | $28.00 to $47.50 |
| Mint State (MS-60) | $56.00 to $94.50 |
| Choice Unc (MS-63) | $112 to $189 |
| Gem Unc (MS-65) | $336 to $567 |
Estimated retail range, updated 2026-06-15. Estimates are modeled from mintage rarity and metal content, not auction records. Actual sale prices vary with certification, eye appeal and market timing.
What is a 1923-S Buffalo Nickel worth right now?
In worn but collectible condition (Good-4), a 1923-S Buffalo Nickel starts around $1.75. From there, value climbs with every grade step: a gem Mint State example (MS-65) can reach $567. Most coins found in old collections fall somewhere between Very Fine and About Uncirculated, the middle rows of the table above.
1923-S Buffalo Nickel specifications
- Series
- Buffalo Nickel
- Year
- 1923
- Mint mark
- S
- Mintage
- 6,142,000
- Composition
- 75% copper, 25% nickel
- Weight
- 5 g
- Diameter
- 21.2 mm
- Edge
- Plain
- Designer
- James Earle Fraser
Mintage figure: US Mint reports (approximate).
Where is the mint mark on a 1923 Buffalo Nickel?
On a 1923-S Buffalo Nickel, the "S" mint mark of the San Francisco Mint sits on the reverse, below FIVE CENTS at the bottom. A loupe helps: on worn examples the letter can fade into the surrounding devices.
What makes the 1923-S Buffalo Nickel valuable
The mintage of 6,142,000 puts the 1923-S Buffalo Nickel among the scarcer issues of its series. It is findable, but nice examples take patience, and the market prices that difficulty in.
There is history in a 1923 Buffalo Nickel as well. The obverse portrait is a composite of three Native American chiefs, Iron Tail, Two Moons, and Big Tree by most accounts, and the reverse bison is traditionally identified as Black Diamond of the Central Park Zoo. That backdrop keeps the series among the most actively collected in American numismatics.
Summary: the 1923-S Buffalo Nickel is valued between $1.75 and $567 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.