Buffalo Nickel enthusiasts rejoice in the great challenge of collecting their series of preference by date and mintmark. There are many keys, semi-keys, and tough dates counted among the ranks of Buffalo Nickels. One of these more difficult Buffalo Nickels is the 1927-S. The issue was struck to the tune of 3,430,000 pieces and appears to some as deceivingly common at first glance – especially when considering the mintage was originally over 1 million coins. But that’s where any facade of the 1927-S Buffalo Nickel being a run-of-the-mill coin ends.
Like so many other 1920s branch-mint emissions, the 1927-S Buffalo Nickel proves to be something of an enigma as it relates to scarcity. The coin is somewhat common in the lower circulated grades, scarce in the better circulated grades, and decidedly rare in Mint State grades – particularly in the MS65 range and better. This is due to a variety of reasons.
Yes, the mintage of the 1927-S Buffalo Nickel, while respectable in number, is relatively small as compared to most other Buffalo Nickel issues. Then there is the fact that the coin saw extensive use, especially during the early years of the Great Depression that ensued soon after the coin was struck. Combine those factors with the small number of collectors who were actively pursuing contemporary United States coins in the late 1920s (let alone branch-mint coins, which were often overlooked by collectors who preferred coins from the Philadelphia Mint), and we soon see why 1927-S Buffalo Nickels – especially those in better grades – are so tough to come by.
The rarity of the 1927-S Buffalo Nickel is well reflected in prices for the coin, which range from mostly affordable to roundly astronomical. G4 specimens kick off at around $6, making the 1927-S obtainable for most collectors looking to simply fill a hole in their collection. Those who seek better-quality examples will need to pony up significantly higher prices the further up the grading ladder they ascend. An F12 goes for $18, while XF40 specimens fetch about $145. Those who seek uncirculated examples will need to reach deep into their pocketbooks, for MS60 pieces trade for $1,050, and MS63s garner prices nearing $2,800. Anything at “Gem” level or better is a five-figure prospect, with MS65 specimens going for $12,500, and the tiny population of MS66 examples taking some $90,000 apiece.