1923-S Buffalo Nickel
Circulation strike struck at the San Francisco Mint · 6,142,000 made
- Mintage
- 6,142,000
- Metal
- 75% copper, 25% nickel
- Weight
- 5 g
- Diameter
- 21.2 mm
Original illustration. Tap to flip. Not a photograph of the actual coin.
Face value · Metal value · Small premium · Collector premium · Significant rarity. We use bands because prices change daily.
What is a 1923-S Buffalo Nickel worth?
Age alone gives this coin a small premium, even worn. Sharp details and original surfaces push it higher.
What would make yours worth more:
- Uncirculated condition with full original luster
- A die variety or minting error
For market prices, check recent sold results for certified coins in the same grade.
Quick answers
- Is the 1923-S Buffalo Nickel rare?
- No. 6.1 million were made, a typical run for the series. Condition and varieties decide its value, not the date.
- Is the 1923-S Buffalo Nickel silver?
- No. It's 75% copper, 25% nickel. The only silver nickels are the 1942 to 1945 wartime coins with a large mint mark above Monticello.
- Where is the mint mark on a 1923 Buffalo Nickel?
- On the reverse, below the words FIVE CENTS. Philadelphia nickels have no mint mark. On this coin the mark is S, for San Francisco.
- Which San Francisco dates near 1923 are scarcer?
- The 1926-S at 970,000, the 1924-S at 1,437,000, the 1921-S at 1,557,000, plus 2 more. So the 1923-S is one of the easier dates of its stretch.
- How many 1923-S Buffalo Nickel coins were made?
- 6,142,000.
What to check on your 1923-S
- Make sure the mint mark really is an S. A worn or filled mark can be misread. It's what separates your coin from the 1923 (36 million made).
- Check the date on the obverse, on the raised shoulder below the portrait. Buffalo nickel dates were raised and wore away quickly, so many coins from this period are found with partial or missing dates.
- Judge the grade under good light. The tip of the bison's horn and the date are the key points. A "Full Horn" adds premium and a full, clear date is essential for Fine and above.
Look for a full horn tip on the bison and a clear date. A sharp strike and a full date matter more for value than almost anything else in this series.
The story of the 1923-S
San Francisco hadn't struck the Buffalo Nickel since 1921. When it came back in 1923, it made 6,142,000. The next year it made 1.4 million (1924-S).
The other mint made far more that year: 1923 alone came to 36 million, roughly 5.8 for every 1923-S. That makes the 1923-S the scarcer 1923 coin, though still a common one.
San Francisco struck the Buffalo Nickel in 22 issues between 1913 and 1937. By mintage this one lands in the more common half, while the key for that mint is the 1926-S (970,000). Within the 1920s it's 9th smallest of 25, between the 1927-D (5.7 million) and the 1925-S (6.3 million).
Branch mint keys and soft strikes (1922 to 1931)
No nickels were struck in 1922. Production resumed in 1923. San Francisco struck small numbers in several years, creating the 1923-S, 1924-S and 1926-S semi-keys. The 1926-S, at 970,000, is the lowest mintage regular issue of the series. Denver and San Francisco coins from these years are known for weak strikes, especially on the bison's head and the date.
The Depression cut demand in 1930 and 1931. In 1931 only San Francisco struck nickels, 1.2 million pieces. The coin was saved by many people at the time. Survivors from the 1920s are usually found with worn or missing dates. Coins with full horn detail carry a premium. Dateless Buffalo nickels from this era are often treated with acid to reveal the date.
How to recognize it
The obverse shows a Native American man facing right, with LIBERTY near the rim and the date on his shoulder. The reverse shows an American bison standing on a raised mound in early 1913 and on flat ground afterwards, with FIVE CENTS below. The mint mark is under FIVE CENTS. The raised date wears quickly, which is why many Buffalo nickels have partial or missing dates.
Mintage chart
Specifications
| Series | Buffalo Nickel (1913–1938) |
|---|---|
| Year | 1923 |
| Mint | San Francisco Mint |
| Mint mark | "S" |
| Strike type | Circulation strike |
| Mintage | 6,142,000 |
| Face value | 5¢ |
| Composition | 75% copper, 25% nickel |
| Weight | 5 grams |
| Diameter | 21.2 mm |
| Edge | Plain |
| Designer | James Earle Fraser |
Other 1923 Buffalo Nickel issues
| Coin | Mintage | Type | Silver |
|---|---|---|---|
| 1923 Buffalo Nickel | 35,715,000 | Circulation strike | – |
| 1923-S Buffalo Nickel | 6,142,000 | Circulation strike | – |
Mintage: United States nickel mintage figures (Wikipedia, CC BY-SA 4.0), compiled from US Mint records and the Guide Book of United States Coins. How we build these pages.