A regular 1937-D Buffalo nickel is worth about $2 to $4 circulated — the Three Legs variety is worth $500 and up. An over-polished die at the Denver mint accidentally erased most of the buffalo’s front leg.
It is the most famous variety in the Buffalo series and one of the most faked, which makes it the perfect coin to understand properly: how it happened, how to identify a real one, and what each grade is worth. It is the headline variety of our Buffalo nickel key dates guide.
How a Buffalo Lost Its Leg
Working dies at the mint were routinely polished to remove clash marks — the ghost impressions left when dies struck each other without a coin between them. In 1937, a Denver mint technician polished one reverse die too aggressively, and the abrasive work that removed the clash marks also removed the fine lines of the buffalo’s front leg, leaving only the hoof touching the ground. Nobody caught it before the die struck its run of coins. The result is a buffalo standing on three legs and a hoof — not a design change, not an error of intent, just one die, polished one pass too far, in the series’ final full year of production.
How to Identify a Genuine Three Legs
| Check | What a genuine coin shows |
|---|---|
| The front leg | Missing from the knee down — only the hoof remains at the ground line |
| The field below the belly | A rough, moth-eaten texture from the polishing — smooth here is a warning sign |
| E PLURIBUS UNUM | Strong and raised on the genuine die, even on worn coins |
| The back legs | Both complete; the variety took only the front leg |
| Tooling marks | None. Scratches or a carved look around the leg area mean a regular 1937-D was altered by hand |
Three Legs Values by Grade
| Coin | Typical value |
|---|---|
| Regular 1937-D, circulated | About $2–$4 — the coin the variety hides among |
| Regular 1937-D, mint state | About $40–$75 |
| Three Legs, circulated (Fine–XF) | About $450–$900 |
| Three Legs, About Uncirculated | About $1,500–$2,500 |
| Three Legs, mint state | About $3,000–$6,000 and up — gem examples are five-figure coins |
The Fake Problem, and the Only Safe Way to Buy One
Because a regular 1937-D costs $3 and the variety costs $500, the alteration is obvious and common: a tool removes the front leg from a normal coin. Altered coins give themselves away under magnification — the leg area looks carved rather than polished, the field below the belly stays smooth instead of rough, and the weight of detail just does not match the genuine die. The rule for this coin is the rule for every four-figure variety: buy it certified by PCGS or NGC, and verify the certificate number against the service’s own record before paying — our certification verification guide shows the two-minute check. Grade context for the rest of the dates is in the Buffalo nickel value guide.
1937-D Three Legs FAQ
How much is a 3 legged Buffalo nickel worth?
About $450–$900 in circulated grades, $1,500–$2,500 in About Uncirculated, and $3,000–$6,000+ in mint state — for a genuine, certified example. The regular 1937-D it hides among is a $2–$4 coin.
How did the 1937-D Buffalo nickel lose its leg?
A Denver mint worker over-polished a working die while removing clash marks, and the polishing erased the buffalo’s front leg below the knee. Coins from that one die carry the variety.
How can you tell a real Three Legs from a fake?
Genuine coins show a rough, moth-eaten field below the belly and strong E PLURIBUS UNUM lettering; fakes are regular coins with the leg tooled away, showing carving marks and a smooth field. Certification settles it.
Are there other three-legged Buffalo nickels?
The 1937-D is the only recognized issue of the variety. Similar-looking coins from other dates are wear, damage, or alterations — not the variety, and not priced as it.
Values are typical market ranges for genuine coins as of November 7, 2026 and vary with grade and eye appeal; at this level, certification is the pricing basis. This guide is educational, not financial advice.