1923 Buffalo Nickel Errors, Varieties and Value

Following directly after a year with no Buffalo nickel mintage at all, 1923 resumed normal production at all three mints — though the San Francisco issue in particular is a genuine condition rarity once you look past its raw mintage figures. GetCoinHunt helps you search inventory from multiple coin dealers in one place, compare available examples, and create a wishlist alert when the right coin is not currently listed.

Design and history

The 1923 nickel carries James Earle Fraser’s Type 2 reverse, adopted midway through 1913, with the composite Native American portrait on the obverse and a bison on a flatter, recessed reverse ground. Specifications hold constant across the series: 75% copper, 25% nickel, 5.00 grams, 21.21mm diameter, plain edge. Philadelphia coins carry no mintmark; Denver and San Francisco pieces show a D or S beneath FIVE CENTS. As a reminder, no Buffalo nickels exist dated 1922, the year immediately before.

Errors and varieties to know

The 1923-S is a genuinely challenging regular issue, especially when it comes to finding an example with a full horn and strong central detail rather than the soft, mushy strike that’s typical for the date. Its difficulty in top condition comes from striking characteristics and survival, not from any minting error. No major, broadly recognized 1923 die variety defines the year in the principal PCGS and NGC references used here.

PCGS does recognize a Two Feathers die for Philadelphia in 1923, produced when excessive die polishing removed the small innermost feather between the portrait and the long feather behind it. Attribution requires matching the documented die rather than judging by a feather that’s merely hard to see.

How to examine a 1923 Buffalo nickel

• On a 1923-S candidate, pay close attention to the bison’s horn and central shoulder detail — a full, sharp horn is a meaningful and legitimate premium factor for this date, independent of numerical grade.
• For a claimed Two Feathers example, compare under magnification against certified reference photos of the documented Philadelphia die.
• Genuine doubled dies show raised, rounded secondary design in a fixed, repeatable position; flat or shelf-like doubling is mechanical and does not carry the same premium.
• Raised lines across the field usually indicate die cracks; incuse marks typically point to scratches or handling damage.

Worn or damaged dates from this era are sometimes chemically treated or re-engraved to appear sharper — a practice covered in our guide to documented counterfeit U.S. coins. Avoid cleaning any candidate coin before it’s been evaluated.

Buying considerations

Certified versus raw coins

A raw 1923 Philadelphia or Denver nickel is generally a safe purchase at typical grades. For a 1923-S with a claimed full strike, or for any claimed Two Feathers example, certification from PCGS or NGC provides useful confirmation that the stated attributes actually hold up.

Understanding grades and condition

Wear on this date follows the familiar Buffalo nickel pattern — the portrait’s cheekbone and hair braid first, then the bison’s shoulder and horn. Because 1923-S strike quality varies so much, comparing multiple listings side by side before buying is worthwhile, since a well-struck example in a lower numerical grade can display more design detail than a softly struck coin graded higher.

Problem coins

Cleaned, corroded, or environmentally damaged 1923 nickels turn up regularly given the date’s age. A details-graded 1923-S can be a reasonable way to acquire the tougher issue at a lower price, provided the stated problem is reflected in the asking price.

Suggested search terms and filters

Start broad: “1923 Buffalo nickel,” “1923-S Buffalo nickel full horn,” “1923-D Buffalo nickel,” or “1923 Two Feathers nickel.”

Then narrow by:

• Mint: no mark (Philadelphia), D (Denver), or S (San Francisco)
• Strike: full strike versus typical or weak strike
• Certification: PCGS, NGC, or raw

Availability and pricing notes

Ordinary 1923 Philadelphia and Denver nickels are common and affordably priced. The 1923-S commands a real premium in higher grades, and especially with a full strike, so compare recent completed sales before assuming an asking price reflects fair market value.

GetCoinHunt does not guarantee that every listing is authentic, accurately graded, or fairly priced. Authentication, grading, pricing, return policies, and fulfillment remain the responsibility of the dealer or marketplace offering the coin.

How the GetCoinHunt wishlist alert works

1. Search for the coin. Enter “1923 Buffalo Nickel” to search participating dealer inventory.
2. Review the available matches. Compare listings by mint, strike quality, grade, and certification.
3. Add the search to your wishlist. If the right example isn’t available, save “1923 Buffalo Nickel” as a wishlist item with mint or strike preferences where available.
4. Get notified about new matches. GetCoinHunt sends an alert when new dealer inventory matches your wishlist.
5. Evaluate the coin before buying. Verify certification and photographs, read the full listing, and review the seller’s terms.

Frequently asked questions

Why is the 1923-S considered challenging?

It’s genuinely difficult to find with a full horn and strong central detail, since the date is prone to a soft strike. Its overall mintage isn’t dramatically low, but top-condition, well-struck examples are scarce.

Is there a major error or variety for 1923?

No major, broadly recognized die variety defines the year beyond the Philadelphia Two Feathers die.

Does the 1922 gap year affect 1923 values?

Not directly — 1923 stands on its own as a regular issue. The absence of a 1922 date simply means collectors move from 1921 straight to 1923 when building a date set.

What should I look for in a 1923-S listing?

Compare the bison’s horn and shoulder detail across listings, since strike quality varies meaningfully and a sharp strike is worth a real premium on this date.

What if no suitable coin is currently available?

Add “1923 Buffalo Nickel” to your wishlist below. You’ll be notified when newly detected dealer inventory matches your search.

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