1918 Nickel Value (2026 Guide): Errors List, “D”, “S” & No Mint Mark Worth

The 1918 Buffalo Nickel is over a century old, yet it still gets collectors genuinely excited — and for good reason.

1918 nickel value ranges widely depending on which mint produced the coin and what condition it’s in. A well-worn Philadelphia example might sell for around $6.60, while the same coin in top uncirculated condition jumps to $853.

What makes 1918 even more interesting is that some Denver-minted coins carry a rare overdate error — an 8 stamped over a 7 — that pushes values well above $2,000 for a nice example.

Whether you found one in an old collection or you’re just starting to explore Buffalo nickels, this article walks you through exactly what affects value and how to read your coin’s details correctly.

 

1918 Nickel Value By Variety

Not all 1918 nickels are worth the same amount, and the mint that made yours matters more than you might expect. The letter stamped on your coin — or the absence of one — is the first thing you need to look at before putting a value on it.

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 1918 Nickel Worth Money

Among all 1918 Buffalo nickels, the coins commanding the highest prices at auction fall into two clear groups — the 1918/7-D overdate error and a handful of exceptional high-grade survivors from Philadelphia and San Francisco.

The 1918/7-D overdate dominates the top of the list. Gem examples graded MS65 (Mint State 65, meaning essentially perfect and never circulated) are extremely rare, which explains why one sold for $350,750 and an MS64 example reached $161,000.

Outside the overdate, only two coins break into the top 10 on sheer grade alone — a 1918-S graded MS66 at $125,350, and a Philadelphia 1918 graded MS67 at $55,200, both reflecting just how scarce flawless survivors are.

The 1918/7-D is considered rare in all grades, and the price data backs that up consistently. MS61 through MS63 examples sold in the $36,000–$55,200 range, and even an MS58 — which shows slight wear — still cleared $38,400.

For a coin that originally circulated as everyday currency, that kind of floor across all grades says a lot about how few quality pieces have survived.

 

History Of The 1918 Nickel

The Buffalo Nickel — also called the Indian Head Nickel — entered circulation in 1913, designed by sculptor James Earle Fraser.

It was part of a broader government effort to beautify American coinage, following redesigns across five denominations between 1907 and 1909. Fraser drew on his own upbringing near the frontier to create a design that felt genuinely American rather than decorative.

By 1918, the coin had been in circulation for five years and was a familiar sight in everyday life. That year, the United States was navigating two overlapping crises — the final months of World War I and the early spread of the Spanish Flu.

Both put enormous pressure on the country’s resources, and the Mint was no exception. By late 1917, the nation faced a severe shortage of cents and nickels. Industrial expansion, military mobilization, and increased consumer spending all demanded massive quantities of minor coinage.

The Philadelphia Mint worked under significant pressure to produce enough dies to keep all three mints supplied. It was precisely this rush that led to the most famous 1918 coin of all.

One obverse die received its first impression from a 1917-dated hub, but its second impression came from a 1918-dated hub — and that die was shipped to Denver, where it struck a small number of coins before being retired. That wartime mistake created the 1918/7-D overdate, a coin that collectors still chase today.

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

 

Is Your 1918 Nickel Rare?

If your coin’s grade puts it in the scarcer range, the CoinValueChecker App gives you a quick, reliable way to see exactly where it stands among surviving examples.

 

Key Features Of The 1918 Nickel

The 1918 Buffalo Nickel shares the same design that Fraser first introduced in 1913 — a design that still stands as one of the most distinctly American ever produced. Before looking at value, it helps to know exactly what you’re looking at on both sides of the coin.

The Obverse Of The 1918 Nickel

The front of the coin shows a right-facing portrait of a Native American chief. Fraser created this as a composite image drawn from several chiefs who sat for him, including Iron Tail of the Sioux, Two Moons of the Cheyenne, and Chief John Big Tree. His goal was not to portray any single individual, but to represent Native American dignity as a whole.

The word “LIBERTY” curves along the upper right of the coin. The date sits low on the design, just above the shoulder — which is exactly why so many Buffalo nickels end up dateless after years of circulation.

Fraser’s initial “F” appears just below the date on most examples, a small but satisfying detail to spot on a well-preserved coin.

The Reverse Of The 1918 Nickel

The back of the coin shows an American bison — commonly called a buffalo — standing in profile. According to Fraser, the model was Black Diamond, a bison he described as “the contrariest animal in the Bronx Zoo”.

The bison stands on a flat ground line, with “UNITED STATES OF AMERICA” arching above and “E PLURIBUS UNUM” (Latin for “out of many, one”) just below the “AMERICA”.

The denomination “FIVE CENTS” is inscribed beneath the ground line, in a recessed area — a deliberate change made in 1913 to prevent the lettering from wearing away too quickly.

For Denver and San Francisco coins, the mint mark — “D” or “S” — appears just below “FIVE CENTS” on the reverse. Philadelphia-minted coins carry no mint mark, which was standard practice for the era.

Other Features Of The 1918 Nickel

The 1918 Buffalo Nickel has a plain (smooth) edge with no ridges. It weighs 5 grams, measures 21.2 mm in diameter, and is composed of 75% copper and 25% nickel. Despite being called a “nickel,” the coin is mostly copper by composition.

The design’s high relief — meaning the raised details sit well above the coin’s surface — made the 1918 nickel visually striking but also prone to rapid wear.

The cheekbone of the Native American portrait and the bison’s upper back are typically the first areas to show friction, which is why these are the key spots to examine when assessing condition.

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

 

1918 Nickel Mintage & Survival Data

About 45 million Buffalo nickels were struck across all three mints in 1918. Philadelphia led by a wide margin with a mintage of 32,086,314, while Denver contributed 8,362,000 and San Francisco the fewest at 4,882,000.

On paper, those are not small numbers — but mintage alone does not tell you how many coins actually survived in collectible condition.

The survival figures put things in sharper perspective. Of Philadelphia’s 32 million, only around 6,500 are estimated to survive today in gradeable condition — a survival rate of just 0.0203%. Denver and San Francisco minted far fewer coins, yet their survival rates are actually slightly higher, at 0.0718% and 0.0922% respectively.

That gap between mintage and survival comes down to one simple fact: these coins circulated heavily. Many earlier Buffalo nickel dates command premiums even in lower circulated grades, largely because well-preserved examples are genuinely hard to find across the board.

What this means practically is that a higher-mintage coin is not necessarily easier to find in good shape. For the 1918-S in particular, the combination of low original mintage and a low number of survivors makes nice examples meaningfully scarcer than the raw numbers might suggest.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1918 Nickel Value

Mint mark, date, and condition are the three things that matter most when working out what a 1918 nickel is worth. The mint mark sits on the reverse below “FIVE CENTS,” and the grade — how worn or preserved the coin is — can shift the value by hundreds or even thousands of dollars.

If you are not sure where to start, the CoinValueChecker App makes it straightforward. Its AI photo recognition reads your coin’s details from a photo and gives you an instant value estimate based on current market data. You do not need any prior experience — just a clear image and a few seconds.

 

1918 Nickel Value Guides

Three versions of the 1918 Buffalo nickel were struck, each at a different mint facility. The mint that produced your coin is one of the first things to check, because it directly affects how much it’s worth and how easy it is to find in collectible condition.

• 1918 No Mint Mark Nickel — Philadelphia’s high-mintage issue; most affordable entry point.
• 1918-D Nickel — Denver’s output, scarcer in grade; home to the rare 1918/7-D overdate.
• 1918-S Nickel — San Francisco’s lowest-mintage issue; the hardest to find in fine condition.

Collectors typically assemble sets of Buffalo nickels that include each mint variety for each year, and the availability and scarcity of each mint mark combination is what drives values above the base level.

 

1918 No Mint Mark Nickel Value

The Philadelphia issue is the most available of the three 1918 varieties, which makes it the natural entry point for anyone new to Buffalo nickels. Circulated examples are not hard to find, and a problem-free coin in Fine condition already sells for around $20.

Grade matters a great deal here. The jump from AU (About Uncirculated) to full Mint State pushes the value significantly higher, and the gap widens quickly as condition improves. A Heritage Auctions sale in September 2020 recorded $55,200 for an MS67+ example — a grade so sharp that virtually no competition exists at that level.

For collectors building a Buffalo nickel set, the Philadelphia 1918 is a realistic starting point. Mid-grade circulated examples are affordable, and a clean, original coin in Fine to AU condition is more satisfying — and harder to find unaltered — than most people expect.

Some auction records document just how much the market values a truly top-grade Philadelphia example.

Recent market patterns reveal how collector demand shifts across different quality tiers throughout the year.

 

1918-D Nickel Value

The Denver coin is a clear step above Philadelphia in scarcity, and its market prices reflect that across nearly every grade. Even in lower circulated conditions, a 1918-D commands a noticeably stronger premium — and the spread between grades is wider than you might expect.

Strike quality is worth paying attention to here. Many 1918-D examples came from worn dies, leaving detail soft on the horn and the Native American’s cheekbone.

A sharply struck coin is worth a real premium over one that simply grades the same number on paper. PCGS prices a gem MS65 example at $4,000, climbing to $40,000 at MS67.

A Heritage Auctions result from July 2021 — $31,200 for an MS67 — shows how competitive the market gets at the top end. Mid-Mint-State examples with solid strike and original surfaces are genuinely scarce, and that combination of grade and quality has historically held its value well in the Buffalo nickel market.

Past auction results show how sharply prices climb once a 1918-D reaches the upper Mint State grades.

Market activity over the past year has remained relatively active, with noticeable peaks suggesting seasonal patterns in buyer interest.

 

1918-S Nickel Value

The 1918-S is the scarcest of the three regular-issue 1918 nickels by a meaningful margin. With an estimated 4,500 survivors across all grades and only around 700 grading MS60 or better, finding a collectible example takes real patience.

At the gem level, the numbers get striking. Only an estimated 60 examples are believed to survive in MS65 or better — a numismatic rarity rating of R-8.4, which places it among the genuinely rare coins in the entire Buffalo nickel series. When a PCGS MS66 example appeared at a Bowers & Merena auction in 2008, it brought $125,350.

Strike is an added consideration for this date. San Francisco’s dies in this era wore quickly, and many 1918-S coins show flat detail straight from the mint.

Given how few sharp, high-grade examples exist and how infrequently they appear at auction, the 1918-S sits in a category where supply is unlikely to grow — which is exactly the kind of condition that tends to support long-term price appreciation.

For those tracking realized prices, the complete auction history offers a window into how buyers have valued this issue since release.

Observing current market trends helps gauge collector attention and liquidity for the 1918‑S Nickel.

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

 

Rare 1918 Nickel Error List

Error coins add a different dimension to collecting — they are pieces where something went wrong during the minting process, and that mistake made them rarer and more interesting than a regular strike.

The 1918 Buffalo nickel has several documented errors and varieties worth knowing about, ranging from major die varieties formally attributed to planchet-level flaws that turn up on individual coins.

1. 1918 DDR FS-801 Error

The DDR FS-801 — where DDR stands for Doubled Die Reverse — is a formally attributed variety on the 1918 Philadelphia issue.

A doubled die occurs during the die-making process, when the hub (the master tool used to impress the design into a working die) makes more than one impression and the second impression lands slightly out of alignment with the first.

The result is a die with doubled design elements, and every coin struck from that die will carry the same doubling.

The auction record for this variety stands at $10,575 for an MS67 example, sold at Heritage Auctions in November 2012. Given that MS67 is the highest grade awarded to the regular 1918 Philadelphia issue, that result reflects both the grade rarity and the variety premium combined.

2. 1918/7-D Overdate Error

The 1918/7-D is the most important variety in the entire 1918 Buffalo nickel series, and one of the most recognized errors in American numismatics (the study and collecting of coins).

It was caused by a mint worker punching an “8” over the “7” on a reused 1917 die, leaving both numbers partially visible on the finished coin. Every genuine 1918/7-D traces back to that single die — there was no second batch, no parallel variety.

On all genuine examples, the top of the “8” extends halfway up into the horizontal bar of the “7,” and there is also a tiny die crack just above the tie on the Indian’s braid — details that help confirm authenticity and separate real coins from altered fakes.

Values climb steeply with grade. A PCGS MS64 example sold for $90,000 at Heritage Auctions in January 2025, while gem MS65 examples have reached into the hundreds of thousands.

3. 1918 2 Feathers FS-401 Error

On a normal Buffalo nickel, the headdress shows three feathers. On a Two Feathers coin, the innermost feather has been polished away entirely — removed by mint workers who were cleaning worn dies and went too far.

PCGS currently recognizes 27 distinct Two Feathers varieties across the Buffalo nickel series, and both the 1918 Philadelphia and 1918-S issues are among them.

Identifying them requires careful examination. You are looking for the complete absence of that inner feather, not just a weakly struck one. Some coins retain a small trace and have been described as “two and a half feather” coins, which most specialists do not consider true Two Feathers varieties.

The 1918 Philadelphia FS-401 reached $12,925 in MS64 at Heritage Auctions in January 2014, and the 1918-S version has sold for $2,280 in MS63.

4. 1918 Lamination Error

Lamination errors are planchet-level flaws rather than die varieties. They occur when impurities get trapped in the metal during the preparation of coin blanks (called planchets), creating weak spots that crack, peel, or separate during or after striking.

Metal suppliers during this era did not have the quality controls that exist today, and lamination errors are notably common across Buffalo nickels from the mid-to-late 1910s.

To distinguish a lamination from ordinary damage, look for cracks or separations that follow the metal’s internal grain structure rather than surface scratches. Values depend on how dramatic the lamination is — a large, visible peel affecting a key design area attracts noticeably stronger interest than a minor surface crack.

5. 1918 Die Crack Error

Die cracks occur naturally over the life of a working die — as pressure accumulates over thousands of strikes, small fractures develop and transfer as raised lines on every coin struck afterward.

Location matters greatly. A crack running through open space adds little premium, while one cutting through the date or a key design element is far more desirable. When a crack reaches the rim, it can create a “cud” — a raised, blob-like area where the die has chipped away entirely — and cuds on 1918 nickels are particularly sought after by error collectors.

Values vary widely depending on the crack’s size, placement, and visual drama.

6. 1918 Off-Center Strike Error

An off-center strike happens when the coin blank (planchet) shifts out of position before the dies come together, causing the design to be stamped off to one side with a blank crescent of metal visible on the opposite edge.

Off-center strikes are much more common on 1930s Buffalo nickels and are seldom seen on early dates like the 1918. That scarcity on early dates makes a genuine 1918 example meaningfully harder to find than the error type itself might suggest.

The degree of misalignment directly affects value — the more dramatic the shift, the more desirable the coin. A 10% off-center example with the date still fully visible is collectible; a 50% shift that still shows a readable date is considerably rarer and commands a strong premium. If the date is missing entirely, the value drops sharply.

 

Where To Sell Your 1918 Nickel?

With your 1918 Buffalo Nickel’s value established, identifying the right selling venue becomes your priority. Successful sales depend on choosing platforms that attract genuine collectors and offer transparent terms.

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

 

1918 Nickel Market Trend

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

 

FAQ About The 1918 Nickel

1. How much is a 1918 nickel worth?

It depends on which mint made it and what condition it’s in. A well-worn Philadelphia example starts around $6.60, while a fine 1918-S can sell for $166 or more.

At the top end, mint state examples climb steeply — an MS67+ Philadelphia coin sold for $55,200 at Heritage Auctions in 2020, and the rare 1918/7-D overdate has reached $350,750 in MS65.

2. How do I know which mint made my 1918 nickel?

Find the mint mark on the reverse of the coin, below the mound along the rim, just under “FIVE CENTS”. A “D” means Denver, an “S” means San Francisco, and no letter at all means it came from Philadelphia.

This single detail matters enormously for value. A 1918-S in Fine condition is worth over eight times more than a Philadelphia coin in the same grade.

3. What makes the 1918/7-D overdate so valuable?

The 1918/7-D was created when a 1917 die was reused and given a second impression from a 1918 hub, leaving both the “7” and “8” partially visible on the date. Every genuine example traces back to one single die, which is why the supply is permanently fixed.

Even heavily worn error coins fetch several thousand dollars, and coins in mint condition fetch more than $60,000. A gem MS65 example has sold for $350,750, making it the most valuable regular-series coin from 1918 by a wide margin.

4. What does “dateless” mean, and is a dateless 1918 nickel worth anything?

The date appears on the obverse below the Native American’s chin, and because of the raised design, this area wore quickly — often becoming completely illegible within months of circulation. If you cannot read any digits, you have a “dateless” coin worth $0.20–$0.50.

A dateless Buffalo nickel cannot be identified by year or mint, which removes all collector premium. If you can read even a partial date on your 1918 coin, it is worth significantly more.

5. What is the rarest version of the 1918 nickel?

The 1918-S is the rarest of the three regular-issue varieties, with only around 4,500 estimated survivors across all grades. Only about 60 examples are believed to exist in MS65 or better — a numismatic rarity rating of R-8.4.

The 1918/7-D overdate is rarer still as an error variety, with gem examples essentially unobtainable for most collectors. Both coins rank among the most challenging issues in the entire Buffalo nickel series.

6. How do I grade my 1918 nickel at home?

Using a single light source and magnification, first inspect for a clear date — a bold date showing places your coin in the upper grade ranges. Tilting the coin under the light at different angles helps find subtle details.

For the obverse, check the cheekbone just below the eye — any smoothing there indicates wear. On the reverse, examine the bison’s upper shoulder and hip. If the fur texture is flat and the ground line above “FIVE CENTS” is soft, the coin has seen meaningful circulation.

7. What is the 1918 Two Feathers error and how do I spot it?

The Two Feathers error occurs when the innermost feather in the headdress was accidentally polished off a die during maintenance, leaving only two visible feathers instead of three. It is a formally attributed PCGS variety, listed as FS-401, and appears on both the Philadelphia and San Francisco 1918 issues.

To spot it, look carefully at the area between the back of the chief’s neck and the longest feather. If the short inner feather is completely gone — not just weak — you may have a Two Feathers variety. The Philadelphia FS-401 has sold for $12,925 in MS64.

8. Should I clean my 1918 nickel before selling it?

No. Cleaning a coin removes its original surface and luster, which dramatically reduces its value in the eyes of collectors and professional graders. A cleaned coin will receive a “details” designation from PCGS or NGC (the two leading grading services), which typically cuts the market value significantly compared to an original, unaltered example.

Even a coin that looks dull or dark is better left untouched. Original surfaces — even imperfect ones — are always preferred over a coin that has been polished or dipped.

9. Is it worth getting my 1918 nickel professionally graded?

It depends on the coin’s condition and which variety you have. For a circulated Philadelphia example worth $20–$80, the grading fee may not make financial sense. But for a 1918-S, a 1918-D in Mint State, or any suspected error variety, professional grading by PCGS or NGC adds authentication, protects the coin, and typically increases buyer confidence — and realized price — at auction.

The 1918/7-D overdate in particular should always be certified, as altered fakes do exist and authentication is essential before any serious transaction.

10. Where is the best place to sell a 1918 nickel?

For common circulated examples, reputable coin dealers and online marketplaces are straightforward options. For higher-grade or error coins — especially a 1918-S in Mint State or a 1918/7-D overdate — major auction houses like Heritage Auctions or Stack’s Bowers are worth considering, as they reach the widest pool of serious collectors and typically achieve the strongest realized prices.

Before selling, make sure you know your coin’s grade and variety. A coin sold without that information is almost always undervalued.