1927 Nickel Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

In 1927, James Earle Fraser’s bold design — a proud Native American on one side, an iconic American Bison on the other — was still rolling off mint presses at full force. Philadelphia alone struck nearly 38 million that year, while San Francisco produced just 3.4 million, quietly creating one of the series’ most sought-after coins.

That difference in mintage matters enormously today. A circulated No Mint Mark starts at just $2.40, but a gem-quality S-mint can reach $3,964 — nearly 1,600 times more.

The spread between common and rare is what makes the 1927 Nickel value so fascinating to explore.

 

1927 Nickel Value By Variety

The table below breaks down the value of each 1927 Buffalo Nickel variety — No Mint Mark, D, and S — across four key grades: Good, Fine, AU, and Mint State. 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 1927 Nickel Worth Money

The auction record for 1927 Buffalo Nickels tells a clear story: grade and mint mark are everything. The 1927-S in MS-66 stands alone at the top, with a staggering sale price of $125,350 at Bowers & Merena in April 2008 — nearly three times the runner-up.

That runner-up is the 1927-D in MS-66, which reached $46,000, confirming that gem-quality Denver coins are serious market players. The 1927-S in MS-65 follows at $25,850, showing how even a single grade point separates five-figure coins from the rest.

Error coins also command real respect. The 1927-D 3½ Leg FS-901 sold for $7,475 at just MS-62 — proof that a striking error can outperform a normal coin several grades higher.

 

1927 Nickel Value History and Background

The Buffalo Nickel series ran from 1913 to 1938, designed by sculptor James Earle Fraser as part of a broader U.S. government effort to refresh American coinage. By 1927, the series had been running for over a decade, and the coin had firmly established its place in everyday American commerce.

Due to strong fiscal conditions during the 1920s, the U.S. Mint found a public that had little demand for smaller coins — many consumers preferred half-dollars and dollar coins for their stronger buying power. This economic backdrop directly shaped how many 1927 nickels were produced at each facility.

From a collector’s standpoint, 1927 marks a turning point in the Buffalo Nickel series. It is widely recognized as the first year after which most regular issues are considered common, with the concentration of expensive semi-key and key dates falling in the years before it.

That shift in scarcity is reflected clearly in today’s market. The 1927 nickel value is notably stronger for branch mint coins — the D and S issues are found less frequently, and condition remains the single greatest driver of price across all three varieties.

One fascinating chapter of 1927 coinage history involves the Philadelphia Mint’s experimental Special Strike nickels. According to the 1928 Annual Report of the Director of the Mint, the Philadelphia Mint installed a chromium plating plant that year to test die durability. A tiny number of Buffalo Nickels were struck from these experimental chromium-plated dies, producing coins with a distinctive satin-like finish unlike any standard business strike.

Numismatic researcher Walter Breen examined one of these coins and confirmed that the reverse die used was a leftover from the original Matte Proof strikings made between 1913 and 1916. Dealer Jim Halperin purchased examples at the January 1989 FUN Show. Only about five are believed to exist today, and one graded SP65 by NGC sold for $47,150 in 2009 — making these extraordinary rarities that exist within the same 1927 date most collectors treat as ordinary pocket change.

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

 

Is Your 1927 Nickel Rare?

Not every 1927 Buffalo Nickel is created equal — some are surprisingly hard to find in top condition. Check your coin’s rarity in seconds with the Coin Value Checker App.

 

Key Features of the 1927 Nickel

The 1927 Buffalo Nickel was struck by sculptor James Earle Fraser, who packed every millimeter of this five-cent piece with meaning — a proud Native American portrait on one side, and an iconic American bison on the other.

The Obverse of the 1927 Nickel

The obverse features a composite profile of a Native American chief facing right, with “LIBERTY” inscribed in the upper-right field and the date “1927” positioned on the portrait’s shoulder.

Fraser combined facial features from three real chiefs — Iron Tail (Sioux), Two Moons (Cheyenne), and John Big Tree (Seneca) — creating a portrait that represents an entire people, not a single individual. The designer’s initial “F” appears just below the date on well-preserved examples.

On sharply struck coins, the hair braid, feather detail, and defined cheekbones appear remarkably realistic. These same details — especially the hair braid — are the first to show weakness on the 1927-D and 1927-S due to worn, over-polished dies.

The Reverse Of The 1927 Nickel

The reverse depicts Black Diamond, a real bison that once lived at New York’s Central Park Zoo. He stands on a flat ground line — a deliberate design choice that set the Type 2 coin apart from the original 1913 Type 1 design.

The inscriptions “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” appear along the rim, with “FIVE CENTS” recessed below the ground line — a fix introduced to prevent the denomination from wearing away too quickly. The mint mark, where present, sits directly below “FIVE CENTS.”

Other Features of the 1927 Nickel

The 1927 Buffalo Nickel measures 21.2 mm in diameter and 1.95 mm in thickness, with a weight of 5 grams. Its alloy — 75% copper and 25% nickel — gives the coin its distinctive silver-gray tone, and produces a melt value of approximately $0.07 at current metal prices.

All 1927 Buffalo Nickels use the Type 2 design, first introduced mid-year in 1913 to correct a critical flaw where the denomination wore away rapidly in circulation.

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

 

1927 Nickel Value Mintage & Survival Data

Of the three 1927 Buffalo Nickel varieties, Philadelphia dominated production with nearly 38 million coins struck — dwarfing both branch mints combined. Denver and San Francisco contributed just 5.7 million and 3.4 million respectively, setting the stage for a stark difference in today’s collector market.

What makes the survival data even more telling is the rate, not just the number. Despite its massive mintage, the No Mint Mark variety survives at only 0.0369% — meaning fewer than 14,000 examples are estimated to exist in collectible condition today.

The S-mint tells the opposite story. With the lowest original mintage, it actually holds the highest survival rate at 0.1458% — a sign that many were set aside early precisely because collectors recognized their scarcity. PCGS notes that among all Buffalo Nickels, only the 1920-S, 1925-S, and 1926-S are rarer than the 1927-S in Gem MS-65 condition — placing this coin among the four rarest regular-strike San Francisco issues in the series.

The result is clear: rarity is not just about how many were made. It’s about how few made it through a century of circulation in the grades that matter.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1927 Nickel Value

Figuring out your 1927 Nickel value does not require a professional appraiser. Start by checking two things: the mint mark on the reverse and the sharpness of the buffalo’s horn and the Indian’s hair braid — these details tell you the grade at a glance.

The Coin Value Checker App can assess your coin’s grade within a 2–3 number range and provide an instant value estimate based on current market data. It’s the fastest way to go from curiosity to a confident number — no experience needed.

 

1927 Nickel Value Guides

Mint mark is everything when it comes to 1927 Buffalo Nickel value. Philadelphia, Denver, and San Francisco each struck this coin that year — but the price gap between them is enormous, and condition only widens that gap further.

Understanding each variety on its own terms is the smartest way to approach this coin.

• 1927 No Mint Mark Nickel (Philadelphia) — the most common variety, with the widest range of affordable entry points
• 1927-D Nickel (Denver) — a scarcer mid-tier coin, known for weak strikes and limited high-grade survivors
• 1927-S Nickel (San Francisco) — the key date of the year, with values that can reach well into five figures

 

1927 No Mint Mark Nickel Value

The 1927 Philadelphia Nickel carries no mint mark. Struck at the nation’s oldest mint facility, it represents the foundation of the entire 1927 Buffalo Nickel series.

Unlike its branch mint counterparts, the Philadelphia 1927 is generally well-struck, often with frosty, attractive luster. PCGS CoinFacts describes the strike on this issue as “usually quite sharp,” making it one of the easier 1920s Buffalo Nickels to find in a well-defined state — a significant contrast to the Denver and San Francisco coins of the same year.

At MS-65, the Heritage Auctions archive shows PCGS had certified 600 examples with 263 graded higher at the time of a documented sale, while NGC Census showed 259 examples at MS-65 with 77 grading above — giving collectors a reasonable pool of gems to pursue without the scarcity premium of the S-mint. The auction record stands at $24,000 for an MS-67+ example sold at Stack’s Bowers in August 2019.

The auction record below shows just how far that value can climb at the highest grades.

Beyond the top-tier sales, the broader market for this variety reveals consistent demand.

 

1927-D Nickel Value

The 1927-D Buffalo Nickel occupies a unique position in the series — approachable at lower grades, yet surprisingly rare at the top. Circulated examples turn up with some regularity, but finding one with sharp design detail and original luster is a different challenge entirely.

The 1927-D is a conditional rarity, held back from higher grades by the use of worn dies — making it one of the rarest Buffalo Nickels in MS-65 and above. That scarcity at the gem level is what drives serious collector interest and pushes prices dramatically higher with each grade point gained.

Uncirculated coins grading MS-60 to MS-64 can fetch $350 to $1,250, while grades above MS-65 have reached anywhere from $25,000 to $46,000 at auction. GreatCollections has reported 1927-D examples selling from as little as $9 in worn grades to as high as $18,675 in top MS grades over their auction history — a spread that illustrates just how powerfully condition governs this coin’s market.

The auction record below captures the full ceiling of what this Denver coin can achieve in top condition.

Market activity tells an equally revealing story about where collector demand is strongest today.

 

1927-S Nickel Value

The 1927-S Buffalo Nickel is the undisputed standout of the entire 1927 series. With a mintage of just 3.43 million — the lowest of the three mints that year — survival in high grade is genuinely rare, making this coin one of the most sought-after issues in the entire Buffalo Nickel series.

In Gem MS-65 condition, the 1927-S ranks among the top four scarcest regular-strike San Francisco Buffalo Nickels ever made. PCGS CoinFacts states that only the 1920-S, 1925-S, and 1926-S are rarer in Gem grade — elite company that explains the extraordinary prices this coin commands at auction.

Strike is another major challenge. The luster on 1927-S examples is described by PCGS as more brilliant than frosty, with a subdued glow rather than cartwheel brightness. Most survivors show soft details, making a sharply struck example with full bison horn an exceptional and highly prized find. The auction market has confirmed that status repeatedly — a 1927-S graded MS-66 sold for $125,350 at a Bowers & Merena sale in April 2008, a record that still defines the ceiling for this date nearly two decades later.

The auction record below captures the highest prices this coin has achieved at the top of the grading spectrum.

Collector demand for the 1927-S has reached a notable peak in November 2025, as reflected in the market activity data below.

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

 

Rare 1927 Nickel Error List

The 1927 Buffalo Nickel’s real value is not only in its mint mark — it’s also in its mistakes. A handful of die errors and production flaws from that year have created some of the most documented and sought-after varieties in the entire Buffalo Nickel series.

Most of the errors below originated from the same source: die polishing. When mint workers polished working dies to remove clash marks — impressions left when two dies struck each other without a planchet between them — they sometimes removed too much die metal in the process, permanently altering the design. Here’s what to look for.

1. 1927-D 2 Feathers FS-401

A standard Buffalo Nickel carries three feathers in the Native American chief’s headdress — but on this Denver Mint variety, one of them simply is not there. The 2 Feathers error originated from overzealous die polishing, typically performed after die clashing damaged the surface. The result is a flat, smooth space where the innermost feather should clearly appear.

What makes the 1927-D version particularly interesting is how subtle the error can be on heavily worn examples. To identify it, count the feathers extending from the hair braid area — a normal coin shows three distinct feathers, while the error version displays only two. Use a 10x loupe under angled lighting for the clearest view.

The auction record for this variety stands at $400 for an XF-40 example sold at Heritage Auctions in February 2017. Circulated examples with clear feather definition are actively sought by variety specialists and trade with a consistent premium above standard 1927-D values.

2. 1927-S 2 Feathers FS-401

Same error, different mint — and a very different price ceiling. The San Francisco version of the 2 Feathers variety shares the same origin story as its Denver counterpart, but it sits on top of an already scarce base coin with only 3.4 million struck.

Many 1927-S Buffalo Nickels exhibit weaker strikes due to frequent die polishing used to mitigate die clash marks — the very process that also caused the feather to disappear in the first place. This connection between the error’s cause and the coin’s overall character makes the 1927-S 2 Feathers one of the more diagnostically complex varieties in the series.

The auction record reached $2,280 for an MS-63 example at Heritage Auctions in February 2021 — nearly six times the 1927-D result in comparable grade. The coin is very rare in Gem grades, with likely fewer than 50 examples extant in MS-65 or better.

3. 1927-D 3½ Leg FS-901

Of all the errors produced across the entire Buffalo Nickel series, this one generates the most immediate reaction. The buffalo on the reverse appears to be missing part of its front right leg — not from wear, but from the die itself.

The error occurred at the Denver Mint when dies were over-polished to remove clash marks. During that process, mint workers accidentally removed too much metal from the die surface, erasing part of the buffalo’s front leg detail. A genuine example must show the “ragged stream” of die erosion lines extending from the buffalo’s belly toward the ground — this is the critical authentication marker that separates genuine pieces from altered coins.

PCGS has certified examples up to MS-62, reflecting how difficult it is to find this variety in pristine condition. Circulated examples trade from $80 to $660, with AU-grade coins reaching $700 to $1,200. The auction record stands at $7,475 for an MS-62 example sold at Heritage Auctions in February 2012.

4. 1927-S DDO FS-401

The Doubled Die Obverse (DDO) is a fundamentally different kind of error from the polishing-related varieties above. A DDO occurs during the die-making process when the hub — which stamps the coin’s design onto the working die — makes multiple misaligned impressions. On the 1927-S, this doubling is most visible on the date, the word LIBERTY, and the facial features of the Native American chief.

It is important to distinguish genuine DDO doubling from “mechanical doubling,” which appears as flat, shelf-like displacement rather than the rounded, raised doubling of a true hub-doubled die. Only genuine hub doubling adds collector value — mechanical doubling does not.

The 1927-S DDO is documented, with error coins selling for up to $840 at auction. Note that NGC has stated these minor varieties “attract little interest” compared to the more dramatic polishing errors in this series, so demand is more specialized. Circulated examples showing clear doubling under magnification still command steady premiums.

5. 1927-D/D RPM FS-501

Before modern automated production, mint workers applied mint marks to each working die by hand — one punch at a time. When the punch shifted or was applied twice without perfect realignment, the result was a Repunched Mint Mark (RPM). On the 1927-D/D, the “D” was stamped into the die twice in slightly different positions, creating a doubled, thickened, or shadowed impression visible below the buffalo and beneath “FIVE CENTS.”

The diagnostic is best seen under a 10x loupe with angled lighting. Look for a secondary “D” impression slightly offset — north, south, or to either side of the primary mark. Different lighting angles help reveal repunched mint marks that might not be obvious under direct light.

These error coins typically average around $200 in the current market, with the auction record showing a 1927-D/D graded XF-40 selling for $335 in 2021. Sharply struck examples with dramatic repunching consistently outperform estimates at auction.

 

Where to Sell Your 1927 Nickel

A 1927 Nickel in strong condition deserves the right marketplace — not just any quick sale. Choosing the best selling channel can mean the difference between pocket change and a surprisingly strong return.

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

 

1927 Nickel Value Market Trend

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

 

FAQ About the 1927 Nickel Value

1. How do I find the mint mark on my 1927 Buffalo Nickel?

Flip the coin to the reverse and look directly below the words “FIVE CENTS.” A “D” means Denver, an “S” means San Francisco, and a blank space means Philadelphia. The mint mark placement is the first step in determining what your 1927 Nickel value actually is.

2. Does cleaning a 1927 Nickel increase its value?

The opposite is true. Any form of cleaning — chemical dips, abrasive polishing, or household solutions — permanently destroys the coin’s original surface and mint luster. Professional grading services like PCGS and NGC will flag cleaned coins as “Details” rather than assigning a numerical grade, which significantly reduces their market value.

3. What parts of the coin show wear first?

The buffalo’s horn on the reverse and the Native American’s cheekbone on the obverse are the first areas to show wear. When grading a 1927 Nickel, also check the bison’s shoulder and hip, the hair and feather lines, and the sharpness of the lettering and rim — these details together tell the full condition story.

4. What does “Full Horn” mean on a Buffalo Nickel, and why does it matter for 1927 Nickel value?

“Full Horn” is a collector term describing a coin where the bison’s horn shows complete definition from base to tip, with no flatness or weakness. It is not an official PCGS or NGC designation, but it matters enormously for the 1927-D and 1927-S, both of which are notorious for weak strikes. A Full Horn specimen on either branch mint coin can command a 20–100% premium over a typical example at the same numerical grade.

5. How rare is the 1927-S in Mint State condition?

According to PCGS CoinFacts, the 1927-S is one of the rarest Buffalo Nickels in Gem MS-65 condition — only the 1920-S, 1925-S, and 1926-S are rarer at that grade. Fewer than 50 examples are estimated to exist in MS-65 or better, which is why gem-quality pieces regularly command five figures at auction.

6. Are there 1927 Buffalo Nickels worth more than $100,000?

Yes — but only the rarest examples. The 1927-S in MS-66 sold for $125,350 at Bowers & Merena in April 2008, which remains the all-time auction record for the date. The ultra-rare 1927 Special Strike coins (struck from experimental chromium-plated dies) are valued by PCGS at $65,000–$87,500 depending on grade, with one selling for $47,150 in 2009.

7. Should I get my 1927-D or 1927-S professionally graded by PCGS or NGC?

Professional grading is strongly recommended for any 1927-D or 1927-S in Extremely Fine (EF-40) or better condition. For the 3½ Leg, 2 Feathers, and DDO varieties, authentication through a third-party grading service (TPGS) is essentially mandatory — altered coins and fakes exist in the market for all of these varieties. For standard circulated 1927-P coins, grading fees may exceed the coin’s value unless the coin appears to be in exceptional condition.

8. What is the difference between a genuine Doubled Die Obverse and mechanical doubling on a 1927 Nickel?

A genuine DDO shows rounded, raised doubling on features like the date and LIBERTY — this is created during die production when the hub makes misaligned impressions. Mechanical doubling, which adds no value, appears as flat, shelf-like displacement with sharp edges. Always examine doubling under a 10x loupe; only the rounded, three-dimensional type is the real thing.

9. How does the 1927-D 3½ Leg error compare to the famous 1937-D 3-Leg error?

Both errors were caused by over-polished dies at the Denver Mint and both are cataloged as FS-901. The 1937-D 3-Leg is more famous and generally more valuable — it sells for $600 to over $35,000 depending on grade. The 1927-D 3½ Leg is subtler (the leg is partially present rather than fully missing) and commands $80 to $7,475, with fewer surviving examples certified at the MS-62 level by PCGS.

10. What was the 1927 Buffalo Nickel worth when it was new, and how does that compare to today?

When struck in 1927, the coin was worth exactly five cents — face value. Today, even the most worn No Mint Mark example is worth at least $2–$3, representing a 40–60x increase in nominal terms. A gem-quality 1927-S in MS-66 has appreciated to $125,350, meaning the rarest examples have multiplied in value by roughly 2.5 million times their original five-cent face value over less than a century — one of the most dramatic long-term value trajectories of any U.S. coin series.