The 1938-D/D Buffalo Nickel is worth anywhere from $15 in circulated condition to over $1,200 in high-grade mint state. This final year of the “Indian Head” series is famous for its “D over D” repunched mint mark, making it a favorite for collectors hunting for hidden treasures in their change.
| Condition / Grade | Estimated Market Value |
|---|---|
| Good (G-4) to Fine (F-12) | $15 – $25 |
| Extremely Fine (EF-40) | $35 – $50 |
| Uncirculated (MS-63) | $75 – $110 |
| Gem Mint (MS-66+) | $350 – $1,200+ |
The Story Behind the 1938-D/D Buffalo Nickel Rare Variety
The 1938-D Buffalo Nickel holds a unique place in American history as it represents the very last year this iconic design was produced. While the Denver Mint struck millions of these coins, a specific error occurred during the die-making process. This resulted in the “D/D” (D over D) variety, officially known as a Repunched Mint Mark (RPM).
To accurately identify whether the coin in your pocket is a standard issue or the valuable variety, many experts recommend using the best coin identifier app to zoom in on the mint mark area. In 1938, the U.S. Mint was transitioning to the Jefferson Nickel, and the Buffalo dies were being phased out.
During this transition, workers at the Denver Mint manually punched the “D” mint mark into the dies. In some instances, the punch was struck twice, with the second strike slightly offset or tilted. Because it was the final year, these coins were saved in large numbers, yet the D/D variety remains much scarcer than the standard version. Using the CoinHix app can help you compare your coin’s mint mark against authenticated D/D samples.
How to Identify the D over D Repunched Mint Mark
Identifying a 1938-D/D Buffalo Nickel requires a keen eye or a high-powered jeweler’s loupe. On the reverse side of the coin, located just below the “FIVE CENTS” inscription, you will find the Denver “D” mint mark. If you have a D/D variety, you will see a clear doubling of the letter.
Commonly, the secondary “D” is visible being tilted to the left or positioned slightly higher or lower than the primary letter. This gives the mint mark a “fat” or “blurred” appearance to the naked eye. Because condition is everything, the 1938-D/D buffalo nickel price data suggests that the clearer the doubling, the higher the premium.
If the coin has significant wear, the extra mint mark might be rubbed away, making it difficult to distinguish. However, in “About Uncirculated” or “Mint State” conditions, the secondary punch is often sharp and unmistakable. If you aren’t sure, the CoinHix photo recognition feature can analyze the area for you.
1938-D/D Buffalo Nickel Value for Every Grade
The value of your coin is primarily determined by its preservation. Coins found in old jars or inherited collections are often circulated, meaning they show visible wear on the Native American’s cheek or the Buffalo’s shoulder. While these are still valuable, the real money is in the “Uncirculated” grades.
Even a circulated 1938-D/D commands a significant premium over a standard 1938-D nickel. For example, a standard 1938-D in Fine condition might only be worth a few dollars, but the RPM variety can easily fetch $20 or more. You can check the latest 1938 Buffalo nickel value information to see how the market is trending.
| Grade Group | Description of Wear | Price Range |
|---|---|---|
| Circulated (G-VF) | Heavy wear to moderate detail. | $15 – $35 |
| About Uncirculated (AU) | Only slight friction on high points. | $40 – $65 |
| Mint State (MS-60-64) | No wear, some scuffs or marks. | $75 – $150 |
| Gem Mint (MS-65+) | Original luster, very few marks. | $200 – $1,200 |
Why Condition Matters: MS-66 and Beyond
In the world of coin collecting, the tiny differences between a Mint State 65 and a Mint State 67 can translate to hundreds or even thousands of dollars. A 1938-D/D Buffalo Nickel that has been perfectly preserved since it left the mint will exhibit “full luster”—a swirling light effect when you rotate the coin under a lamp.
Professional grading services like PCGS or NGC are often used to certify these high-grade coins. If your coin looks brand new, it is worth using the CoinHix app to estimate its grade before spending the money on professional certification.
Collectors often look for “Full Horn” specimens, where the buffalo’s horn is completely sharp and detailed. In the 1938-D strike, technical quality was generally high, so competition is fierce for the absolute best specimens. Rare examples with attractive “toning” (natural rainbow-like colors) can often sell for even more than standard price guides indicate at major auctions.
Differentiating Between the D/D and the D/S Variety
Interestingly, the 1938-D Buffalo Nickel also has a much more famous cousin: the D over S variety. This occurred when the Denver Mint used a die that had originally been intended for the San Francisco Mint but was later punched with a “D”. These are generally even more valuable than the D/D variety.
The D/D variety refers purely to a Denver mint mark that was struck twice. Some collectors focus on gathering every single known RPM variety, and there are actually several different “types” of D/D errors for 1938. Some show the secondary D above the first, while others show it slightly to the left.
The table below highlights the key differences you should look for when inspecting your 1938-D Nickel. Having a high-resolution camera and CoinHix can help you spot these minute details that the eye often misses.
| Variety Type | Key Visual Clue | Collector Rarity |
|---|---|---|
| Standard 1938-D | Single, clean “D” mint mark. | Common |
| 1938-D/D (RPM) | Shadow or ghost “D” offset. | Scarce / Sought after |
| 1938-D/S (Omm) | Clear “S” curves visible under the “D”. | Very Rare |
Tips for Selling Your 1938 Buffalo Nickel Variety
If you discover that you own a 1938-D/D Buffalo Nickel, your first instinct might be to take it to a local pawn shop. However, this is rarely the best way to get the full value. Pawn shops often offer only a fraction of what a collector will pay. Instead, consider specializing in numismatic venues.
Online auction sites, reputable coin dealers, or coin shows are much better places to sell error varieties. Because the D/D variety is an “expert” coin, you need to sell it to someone who understands the premium. Always ensure you have clear, close-up photos of the mint mark area to prove the variety.
Protecting your coin is also vital. Avoid cleaning it at all costs! Cleaning a coin with chemicals or even a cloth can leave microscopic scratches that destroy its numismatic value. Keep it in a PVC-free plastic flip or a coin capsule to preserve its condition and its future resale price.
FAQ
Q: How many 1938-D Buffalo Nickels were made?
A: A total of 7,020,000 Buffalo Nickels were minted at the Denver Mint in 1938. While this sounds like a lot, it is quite low compared to modern mintages. Only a small percentage of these contain the D/D repunched mint mark variety.
Q: Is a 1938-D Buffalo Nickel without the error worth anything?
A: Yes! Because it is the final year of the design, even a standard 1938-D is worth about $2 to $5 in worn condition, and around $25 to $40 in Mint State. The D/D variety simply adds a significant bonus to that base value.
Q: Can I find a 1938-D/D Buffalo Nickel in my pocket change today?
A: While it is extremely rare, it is technically possible. Most Buffalo Nickels were pulled from circulation by collectors decades ago, but “estate finds” or old piggy banks sometimes end up back in circulation. Always check your change!
Q: Where is the mint mark on a Buffalo Nickel?
A: The mint mark is located on the reverse (tails) side of the coin. Look at the very bottom, just beneath the words “FIVE CENTS” and above the rim. If there is no letter, it was minted in Philadelphia. A “D” stands for Denver and an “S” for San Francisco.
