1931 Buffalo Nickel Errors, Varieties and Value

By 1931, the Great Depression had cut so deeply into the need for new coinage that only one mint struck Buffalo nickels dated that year — a stark contrast to the routine three-mint production seen just a few years earlier in dates like 1930. 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

Only San Francisco struck Buffalo nickels dated 1931, using James Earle Fraser’s Type 2 reverse that had been standard since midway through 1913: a composite Native American portrait on the obverse and a bison on a flatter, recessed reverse ground. The coin is struck in 75% copper and 25% nickel, weighs 5.00 grams, measures 21.21mm, and has a plain edge, with the S mintmark appearing beneath FIVE CENTS on every genuine 1931 nickel.

Errors and varieties to know

The 1931-S has a comparatively low mintage, but it was recognized and saved in meaningful quantity even at the time, which makes it a regular key-date issue rather than a true rarity or an error. No major, broadly recognized die variety is documented for this single-mint year in the principal PCGS and NGC references. A Philadelphia or Denver nickel dated 1931 should not exist as a normal issue — anything offered as such is misattributed, altered, or counterfeit.

How to examine a 1931 Buffalo nickel

• Confirm the mintmark reads S beneath FIVE CENTS; a coin dated 1931 without a visible mintmark, or with a mintmark other than S, deserves close scrutiny given that Philadelphia and Denver did not strike the date.
• Check the S mintmark’s size, shape, and position against documented San Francisco dies from this period, since low-mintage dates can attract added or altered mintmarks.
• Genuine doubled dies show raised, rounded secondary design in a fixed, repeatable position; flat or shelf-like doubling is mechanical, not a collectible variety.
• Raised lines across the field typically indicate die cracks; incuse marks usually point to scratches or handling damage.

As with other scarcer Buffalo nickel dates, worn or damaged dates 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

Given that the 1931-S is the year’s only genuine issue and carries a real premium, certification from PCGS or NGC is a sensible precaution for anything beyond a modest purchase. Confirm the certification number directly on the grading service’s website.

Understanding grades and condition

Because the 1931-S was recognized as a lower-mintage date fairly early, Mint State examples are more available than for some other keys in the series, though condition still drives price meaningfully. Wear follows the usual pattern — the portrait’s cheekbone and hair braid first, then the bison’s shoulder and horn.

Problem coins

Cleaning, corrosion, and environmental damage reduce value on any 1931-S nickel. A details-graded example can be a reasonable way to own the date at lower cost, provided the stated problem is reflected in the price.

Suggested search terms and filters

Start broad: “1931-S Buffalo nickel” or “1931 Buffalo nickel key date.”

Then narrow by:

• Grade: circulated grades through Mint State
• Certification: PCGS, NGC, or raw

Availability and pricing notes

Because it was saved in reasonable quantity even during the Depression, the 1931-S is available across a range of grades and prices, though it commands a real premium over more common dates in the series. Compare recent completed sales before assuming a listing’s asking price reflects the market.

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 “1931-S Buffalo Nickel” to search participating dealer inventory.
2. Review the available matches. Compare listings by grade and certification.
3. Add the search to your wishlist. If the right example isn’t available, save “1931-S Buffalo Nickel” as a wishlist item with grade 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 did only San Francisco strike Buffalo nickels in 1931?

The Great Depression sharply reduced the need for new coinage, and Mint production adjusted accordingly, with 1931 marking a single-mint year for the series.

Is the 1931-S rare?

It has a comparatively low mintage but was saved in meaningful quantity at the time, which places it as a regular key date rather than an extreme rarity.

Should a “1931 Philadelphia” or “1931-D” nickel exist?

No. Only San Francisco struck Buffalo nickels dated 1931, so any coin claiming otherwise should be treated with suspicion.

Is there a die variety attached to 1931?

No major, broadly recognized die variety is documented for this single-mint year.

What if no suitable coin is currently available?

Add “1931-S Buffalo Nickel” to your wishlist below. You’ll be notified when newly detected dealer inventory matches your search.

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