1916 Nickel Value (2026 Guide): Errors List, “D”, “S” & No Mint Mark Worth

The 1916 Buffalo Nickel holds a respected place in the Buffalo Nickel series (1913–1938), representing the fourth year of one of America’s most iconic coin designs. Understanding 1916 Nickel value requires looking at several key factors — the mint that struck it, its current condition, and whether it carries any notable varieties.

Values across the four main types vary considerably. A standard Philadelphia issue averages around $6.05 in Good condition and $266.17 in Mint State, while the Denver and San Francisco mint coins tend to command stronger premiums — the 1916-D averages $1,966.67 and the 1916-S averages $1,878.33 at the MS level. At the top of the range, the 1916 Proof nickel averages $4,087.14 in PR condition, reflecting its exceptional rarity.

Whether you’re just starting your collection or looking to assess coins you already own, this guide will walk you through everything that determines what your 1916 Buffalo Nickel is worth today.

 

1916 Nickel Value By Variety

The mint mark on a 1916 Buffalo Nickel is one of the most important factors in determining its value — coins struck at Denver and San Francisco consistently trade at higher premiums than their Philadelphia counterparts across nearly every grade level.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 60+ Most Valuable Buffalo Nickels Worth Money

 

Top 10 Most Valuable 1916 Nickel Worth Money

Among all known 1916 Buffalo Nickel varieties, the Double Die Obverse (DDO) coins stand out as the most valuable — and the auction record reflects just how significant this error can be.

The top four spots are all held by DDO examples graded MS 64, MS 62, MS 63, and the FS-101 variety at MS 63, with realized prices ranging from $138,000 to $281,750. These figures highlight how strongly both grade and variety interact: the same DDO error can vary enormously in value depending on the coin’s preservation.

Below the top tier, DDO coins in AU and lower Mint State grades — such as the MS 61 at $59,925 and the AU 58 at $51,923 — still command impressive premiums. Notably, the 1916 Proof graded PR 68 reached $43,125, demonstrating that even non-error coins can be highly sought after when they survive in exceptional condition.

 

History Of The 1916 Nickel

The Buffalo Nickel series was launched in 1913, born out of a broader national movement to bring more artistic and cultural meaning to American coinage. Reformers and artists pushed for designs that reflected American heritage, moving away from the repetitive and utilitarian styles of the previous era.

Sculptor James Earle Fraser was commissioned to replace Charles E. Barber’s Liberty Head design, and his portraits of a Native American and an American bison quickly gained public approval.

By 1916, the Buffalo Nickel was entering its fourth year of production. In that year, slight modifications were made to the design to improve durability — Fraser flattened some of the high points and repositioned the denomination slightly.

The United States was also navigating a period of significant change: World War I was reshaping global politics, and domestically, industrial growth was accelerating rapidly. Against this backdrop, the 1916 Buffalo Nickel continued to circulate as an everyday reminder of an older, more rugged American identity — one that many felt was worth preserving on coin.

Proof coins were also produced in 1916, one of only a few years in the series that saw official proof manufacture before production was halted for two decades. This makes the 1916 issue particularly notable within the full Buffalo Nickel timeline.

Also Read: Top 100 Rarest Nickels Worth Money (Most Expensive)

 

Is Your 1916 Nickel Rare?

Not every 1916 Buffalo Nickel is equally rare — mint mark, grade, and variety all play a role. A worn Philadelphia issue is relatively common, while a high-grade Denver or a DDO example can be genuinely scarce.

Want a quick answer for your specific coin? Use our CoinValueChecker App to check its rarity in seconds.

 

Key Features Of The 1916 Nickel

Understanding the key features of the 1916 Buffalo Nickel helps you identify what you have and assess its condition accurately. Knowing the design details on both sides is a practical starting point for any collector.

The Obverse Of The 1916 Nickel

The obverse features an oversized bust of a Native American warrior as its central motif. Sculptor James Earle Fraser based the portrait on a composite of three real individuals.

In 1916, the depiction of LIBERTY was sharpened and slightly repositioned toward the center of the coin. The date appears at the lower left, and the inscription LIBERTY is positioned above the portrait. These refinements gave the 1916 issue a noticeably crisper appearance compared to earlier strikes.

The Reverse Of The 1916 Nickel

The reverse depicts an American Bison, commonly known as a buffalo, with the inscription UNITED STATES OF AMERICA surrounding the design. The denomination FIVE CENTS appears beneath the bison, and the motto E PLURIBUS UNUM is inscribed above.

The bison stands on a solid mound — a design feature introduced in 1913 to replace the original raised mound, which had caused the denomination to wear away quickly.

Other Features Of The 1916 Nickel

The mint mark, when present, appears on the reverse below the words FIVE CENTS. A “D” indicates Denver and an “S” indicates San Francisco; coins with no mint mark were struck in Philadelphia. Proof versions with satin surfaces were also produced in 1916, the last year of Matte Proof production before a long pause in the series.

Also Read: Top 100 Most Valuable Jefferson Nickels Worth Money List (1938-Present)

 

1916 Nickel Mintage & Survival Data

In 1916, Philadelphia produced the largest number of Buffalo Nickels by far, with a mintage of 63,498,066. Denver and San Francisco followed at 13,333,000 and 11,860,000 respectively. Proof coins were struck in very limited numbers, with only 600 produced.

Despite Philadelphia’s overwhelming mintage lead, its survival rate tells a different story. Only an estimated 15,000 examples survive today — a rate of just 0.0236%. Denver and San Francisco coins survive at slightly higher rates of 0.075% and 0.0632%, reflecting their lower original circulation volumes.

The Proof coins stand apart entirely. With 525 of the original 600 still accounted for, the survival rate reaches 87.5% — a stark contrast to the circulation strikes. This makes the 1916 Proof one of the most intact issues in the entire Buffalo Nickel series.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1916 Nickel Value

Knowing the value of your 1916 Buffalo Nickel comes down to three things: the mint mark, the coin’s grade, and whether it carries any notable variety. A coin in poor condition from Philadelphia will sit at the lower end of the range, while a high-grade Denver or a DDO example can be worth significantly more.

Rather than guessing, the most reliable first step is to get an accurate read on your specific coin. Download our CoinValueChecker App to identify your coin’s variety and get an estimated value instantly.

 

1916 Nickel Value Guides

The 1916 Buffalo Nickel was produced at three mints, each yielding a distinct variety with its own collector profile. A Proof issue was also struck in limited numbers, rounding out the four main types collectors seek today.

1916 No Mint Mark Nickel — Struck at the Philadelphia Mint, this is the most commonly encountered 1916 Buffalo Nickel. With a mintage that set a record for the nickel five-cent coin at the time, the Philadelphia issue is generally accessible across most grade levels. It remains a solid entry point for collectors building a Buffalo Nickel set.

1916-D Nickel — Produced at the Denver Mint with a significantly lower mintage than Philadelphia. Branch mint coins identified by a “D” are highly valued by collectors, and any Buffalo Nickel from the teens with a readable date and a “D” mint mark is considered to be in demand. Higher-grade examples are notably scarce and attract strong collector interest.

1916-S Nickel — The San Francisco Mint issue shares a similar collector profile to the Denver coin, with a comparable mintage and higher premiums in better grades. The “S” mint mark, like the “D,” is a reliable indicator of added collector value, particularly for well-preserved examples.

1916 Proof Nickel — Matte finish Proofs were struck from 1913 through 1916, with the 1916 issue having the lowest mintage in that run at just 600 coins. These were not intended for circulation and were carefully preserved, making them a distinct and highly desirable category within the 1916 series.

Each of the four 1916 Buffalo Nickel varieties tells a different story — from the widely circulated Philadelphia issue to the carefully preserved Proof. Whether you’re a first-time collector or an experienced numismatist, understanding these distinctions is the foundation for assessing what your coin is truly worth.

 

1916 No Mint Mark Nickel Value

The 1916 No Mint Mark Buffalo Nickel was struck at the Philadelphia Mint, with a mintage of 63,498,066 — by far the highest of any 1916 issue. It is one of the more common pre-1919 Philadelphia issues in circulated grades, and the most available 1916 variety across mid-range Mint State levels like MS64 and MS65.

Most examples are well struck, with luster that tends to be satiny rather than frosty. The coin is accessible in most grades up to MS65, but conditional scarcity sets in at MS67 and above. As of early 2025, just one example has been graded MS68 — making top-condition survivors genuinely rare despite the high mintage.

The auction record for this issue was set by that MS68 example, which sold at Heritage Auctions in January 2012 for $14,375 — a result that reflects just how difficult it is to find a truly exceptional No Mint Mark 1916 nickel.

Auction prices for the 1916 No Mint Mark Nickel have fluctuated over time, with higher-grade examples occasionally producing standout results.

Market activity has remained relatively steady, with consistent trading volume recorded across most months.

 

1916-D Nickel Value

The 1916-D Buffalo Nickel was struck at the Denver Mint, with a mintage of 13,333,000 — roughly one-fifth of the Philadelphia issue that year. That lower production figure translates directly into stronger collector demand, particularly in higher grades.

The coin is scarce in circulated grades and scarce in Mint State. In Gem MS65 or better, it is very scarce, sitting at roughly the same rarity level as other key Denver dates from the mid-teens. Most surviving examples are well struck, with satin-like luster that holds up well.

The auction record stands at $24,675 for an MS66+ example, sold at Heritage Auctions in January 2014 — a result that underscores just how competitive the top end of this date can get.

Auction prices for the 1916-D Nickel show notable variation, with higher-grade examples driving the more significant results.

Trading activity has been consistent month to month, reflecting steady collector interest in this Denver issue.

 

1916-S Nickel Value

The 1916-S Buffalo Nickel was produced at the San Francisco Mint, with a mintage of 11,860,000 — the lowest among the three circulation strikes that year. Despite the slightly smaller output compared to the Denver issue, the two coins sit close in terms of overall scarcity.

In circulated grades, the 1916-S is the least rare of the 1913 to 1919 San Francisco Mint Buffalo nickels. In Mint State it is also a little easier to find than other S-Mint issues of the era, but in Gem MS65 or better it becomes quite rare — rarer in gem condition than the 1913-S Type 2, 1914-S, and 1915-S.

The auction record for the 1916-S stands at $26,450 for an MS67 example, sold through Bowers & Merena in January 2003 — still the benchmark for this date after more than two decades.

Auction results for the 1916-S Nickel have been uneven over time, with gem-grade examples consistently attracting the strongest bids.

Monthly trading volume points to a stable but selective market, where quality examples tend to generate the most activity.

 

1916 Proof Nickel Value

The 1916 Proof Buffalo Nickel carries the lowest mintage in the entire Proof Buffalo Nickel series, with just 600 coins struck. The actual number of survivors is believed to be even smaller than that figure suggests — many unsold examples are thought to have been melted when the Mint suspended Proof coin sales at the end of that year.

Most certified examples fall in the PR64 to PR66 range. PR67 examples exist but are scarce, and combined PR68 certifications from major grading services number fewer than a dozen. The matte finish surface, typical of this era, requires careful handling — any contact marks show readily.

The auction record stands at $43,125 for a PR68 example, sold through Heritage Auctions in December 2008 — a figure that reflects both the coin’s extreme rarity at the top grade level and its status as the key date of the entire Proof Buffalo Nickel run.

Auction prices for the 1916 Proof Nickel have trended upward over time, driven by its exceptionally limited surviving population.

Market activity is understandably sparse month to month, reflecting just how rarely these coins change hands.

Also Read: 22 Rare Nickel Errors List with Pictures (By Year)

 

Rare 1916 Nickel Error List

The 1916 Buffalo Nickel has several recognized die varieties that collectors actively seek. Some are the result of abraded dies, others from hub doubling — but each adds a distinct layer of interest and value beyond the standard issue.

1. 1916 Nickel No F, FS-401

The 1916 No F is an abraded die variety where the designer James Earle Fraser’s initial “F” is missing from the coin. This occurs when mint workers polished the die, inadvertently removing the small “F” near the date. Unlike most No F varieties in the series, the 1916 No F is recognized as a Regular Variety rather than a Minor Variety, giving it a more established place in the collector registry.

The auction record for this variety stands at $1,675 for an MS65 example, sold on eBay in July 2021.

2. 1916 Nickel 2 Feathers, FS-402

The 2 Feathers variety occurs when die abrasion removes one of the three feathers from the Native American’s headdress on the obverse, leaving only two clearly visible.

The 1916 issue is among a recognized list of true 2 Feather varieties in the Buffalo Nickel series, though attribution can be strict — any coin retaining even a fragment of the missing feather typically does not qualify. It is a scarce variety that appeals to specialists focused on die variety collecting.

3. 1916 Nickel Doubled Die Obverse (DDO)

The 1916 DDO is the most sought-after doubled die in the entire Buffalo Nickel series. The doubling is clearly visible to the naked eye, most prominently in the date numerals and the mouth area of the portrait. Survival estimates range from 200 to 500 pieces, with the majority found in mid-range circulated grades.

Uncirculated examples are extremely rare, with fewer than two dozen known. Within this variety, the FS-101 is the primary attributed subvariety. MS64 is the highest grade awarded, with one example reaching over $250,000 at auction in 2013.

4. 1916-D Nickel 3½ Leg, FS-901

The 3½ Leg variety is an abraded die variety where the right front leg of the bison was nearly polished away by mint workers attempting to remove clash marks from the die.

The 1916-D version of this variety is far less well-known than the famous 1937-D 3-Legged issue, but it is a legitimate and recognized variety in its own right. The auction record for this variety stands at $805 for an AU53 example, sold in July 2018. Examples in any grade are genuinely scarce and infrequently offered.

 

Where To Sell Your 1916 Nickel?

If you’re ready to sell your 1916 Buffalo Nickel, choosing the right platform makes a real difference. We’ve put together a detailed guide on the best places to sell coins online, covering the pros and cons of each option, so you can make the most informed decision.

Check out now: Best Places To Sell Coins Online (Pros & Cons)  

 

1916 Nickel Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About The 1916 Nickel

1. What is the 1916 Nickel value?

The value of a 1916 Buffalo Nickel depends on its mint mark, grade, and variety. A Philadelphia issue in Good condition averages around $6.05, while a Denver or San Francisco example in Mint State can reach well into four figures. Top-tier varieties like the DDO have sold for over $250,000 at auction.

2. How do I know which mint struck my 1916 Nickel?

Check the reverse of the coin, just below the words FIVE CENTS. A “D” indicates Denver, an “S” indicates San Francisco, and no mint mark means it was struck at the Philadelphia Mint. Philadelphia produced by far the largest number of coins in 1916, with over 63 million struck.

3. Is the 1916 Buffalo Nickel rare?

It depends on the type. The Philadelphia issue is relatively common in circulated grades, while the Denver and San Francisco coins are scarcer, especially in higher grades. The 1916 Proof, with only 600 struck, is genuinely rare. Any DDO example is considered rare regardless of grade.

4. What makes the 1916 DDO so valuable?

The 1916 Doubled Die Obverse shows clear hub doubling visible to the naked eye, particularly in the date and portrait. Only an estimated 200 to 500 examples survive, and uncirculated specimens number fewer than two dozen. The combination of dramatic visual appeal and extreme rarity drives its exceptional value at auction.

5. What is the highest grade known for the 1916 No Mint Mark Nickel?

As of early 2025, just one example has been certified at MS68 — the highest known grade for this issue. Despite the Philadelphia Mint striking over 63 million coins, finding a specimen in truly exceptional condition is remarkably difficult. That single MS68 example sold at Heritage Auctions in January 2012 for $14,375.

6. What is the 1916-D 3½ Leg variety?

The 1916-D 3½ Leg is a die variety caused by mint workers polishing the reverse die to remove clash marks, which inadvertently wore away most of the bison’s right front leg. It is far less publicized than the famous 1937-D 3-Legged Nickel but is a legitimate recognized variety. Examples are scarce and infrequently offered at auction.

7. Were any Proof 1916 Nickels made?

Yes. The Philadelphia Mint struck 600 Proof Buffalo Nickels in 1916, making it the lowest-mintage Proof issue in the entire series. Many are believed to have been melted after the Mint suspended Proof sales that year. The surviving population is estimated to be smaller than the original mintage figure suggests.

8. What is the 1916 No F variety?

The No F variety refers to coins where designer James Earle Fraser’s “F” initial, normally found near the date on the obverse, is absent due to die polishing. The 1916 No F is catalogued as FS-401 and is recognized as a Regular Variety — a more established status than most No F issues in the Buffalo Nickel series.

9. How does the 1916 Nickel fit into the Buffalo Nickel series?

The 1916 issue represents the fourth year of the Buffalo Nickel series, which ran from 1913 to 1938. That year brought minor design refinements to improve strike quality and durability. It also marks the final year of Matte Proof production in the series, making the 1916 Proof a historically significant issue within the full run.

10. Is the 1916 Buffalo Nickel a good coin to collect?

The 1916 Buffalo Nickel offers something for collectors at every level. The Philadelphia issue is accessible and affordable in circulated grades, making it a practical starting point.

For more advanced collectors, the Denver and San Francisco coins, along with the DDO and Proof issues, present genuine challenges. The series has strong historical roots and consistent long-term collector demand.