1935 Nickel Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

1935 Nickel value ranges from $0.05 face value to $104,650. That record sale was a Grade 65 DDR example sold through Bowers and Merena in August 2007. Think yours might be worth something? Upload a photo of your coin below for a quick value range, then scroll down to check recent eBay sales and see what 1935 Nickels are actually going for right now.

 

1935 Nickel Value By Variety

Three mints struck the 1935 Nickel, and the mint mark on yours makes all the difference. If you already know the grade, jump to the Value Guides section for exact pricing.

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

 

Top 10 Most Valuable 1935 Nickel Worth Money

The DDR (Doubled Die Reverse) owns this list. The 1935 DDR MS-65 hammered at $104,650 — absolutely crushing every other 1935 Nickel auction result. A doubled die can never be replicated, so every surviving example is permanently one-of-a-kind. The higher the grade, the rarer they get, which is why that MS-65 brought nearly double the $57,500 a flawless standard 1935 MS-68 fetched.

The 1935-D tells its own story. Even without an error, the Denver issue hit $34,800 at MS-67. That’s what happens when well-preserved branch mint coins are genuinely hard to find.

 

History of the 1935 Nickel

When silver prices spiked after the Civil War, melted coins became worth more than face value. The U.S. Mint’s answer in 1866 was the cupronickel five-cent piece — designed to keep nickels in people’s pockets instead of the melting pot.

The design went through the Shield nickel and the Liberty Head before President Theodore Roosevelt demanded better-looking coinage. Sculptor James Earle Fraser delivered the Buffalo Nickel in 1913, featuring a composite Native American portrait on the front and an American bison on the back.

By 1935, the Buffalo Nickel was over two decades old and nearing the end of its run — the Jefferson Nickel would replace it in 1938. But 1935 was no quiet year. Production surged past 80 million coins across all three mints, a big recovery after output had nearly ground to a halt during the worst of the Depression.

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

 

Is Your 1935 Nickel Rare?

In circulated grades, most 1935 Nickels are common. But “common” can be misleading. The right mint mark or a single die error can push the same coin into four-figure territory. If you want a fast answer on where yours falls, run it through the Coin Identifier and Value App — it cross-references grade, mint mark, and known varieties in real time.

 

Key Features of the 1935 Nickel

Buffalo nickels minted in 1935 look the same as other coins minted from 1913 to 1938. James Earle Fraser created both the obverse and reverse, replacing Barber’s Liberty Head nickels (V nickels minted from 1883 to 1913). Americans liked their new coin, but many experts criticized its reverse design because it was impractical to mint.

The Obverse of the 1935 Nickel

The portrait isn’t one person. Fraser sketched multiple Native American chiefs — including Iron Tail and Two Moons — then combined their features into a single composite.

The result has serious sculptural depth. The strong brow, defined cheekbone, and layered feathered headdress give this five-cent coin a weight that most denominations never achieve.

“LIBERTY” runs along the upper right field, the date sits at the lower left, and just beneath it — easy to miss on worn examples — is Fraser’s initial “F.” Look for it next time you have one in hand.

The Reverse of the 1935 Nickel

Flip it over and you’ll see a bison inspired by Black Diamond, a real animal housed at the Bronx Zoo. Fraser rendered him with the same uncompromising realism he brought to the portrait side.

The bison faces left, standing on flat ground. That’s a deliberate change from the original 1913 Type I design, where a raised mound caused the denomination to wear off almost immediately in circulation.

“FIVE CENTS” sits in a recessed area below the groundline. “E PLURIBUS UNUM” is squeezed into three compressed rows above the bison’s back. The mint mark, when present, appears just below the denomination — a tiny letter with an outsized impact on value.

Other Features of the 1935 Nickel

The 1935 Nickel measures 21.2 mm in diameter, weighs exactly 5 grams, and has a plain edge. Its 75% copper and 25% nickel composition gives it a silvery look when freshly struck. Circulated examples tend to shift toward warm grey or brownish tones as the copper content shows through over time.

At 1.95 mm thick, it feels substantial in hand. The high points on the cheek and the bison’s shoulder show wear first — those are the two spots every collector checks when grading a Buffalo Nickel.

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

 

1935 Nickel Mintage & Survival Data

Philadelphia struck nearly five times more 1935 Nickels than Denver or San Francisco. But raw mintage doesn’t tell the whole story — survival rates do.

Here’s the counterintuitive part: the 1935-D had far fewer coins made, yet its survival rate of 0.124% is the highest of the three — nearly four times the No Mint Mark’s 0.0343%. Dealers and collectors of the era clearly recognized branch mint issues as scarcer and worth setting aside.

Context matters too. These coins hit circulation during the tail end of the Great Depression. People spent every nickel they had. Most 1935 Nickels were used until worn smooth and forgotten. Fewer than 45,000 mint-state examples survive across all three varieties — out of more than 80 million originally struck. That’s not engineered scarcity. That’s the Depression doing what the Depression did.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1935 Nickel Value

Three things determine your 1935 Nickel’s value: mint mark, grade, and whether it carries any die varieties or errors. A worn No Mint Mark example might bring just a few dollars. A well-preserved 1935-D in MS-65 can command hundreds.

The grade differences are rarely obvious without experience — which is exactly where the Coin Identifier and Value App earns its place. You get instant grade detection and real-time pricing before you buy, sell, or trade.

When the gap between “Fine” and “About Uncirculated” can mean a tenfold price difference, guessing isn’t a strategy.

 

1935 Nickel Value Guides

Your coin’s mint of origin is the single biggest factor separating a common find from a sought-after piece.

• • 1935 No Mint Mark Nickel – Philadelphia Mint
  • 1935-D Nickel – Denver Mint
  • 1935-S Nickel – San Francisco Mint

 

1935 No Mint Mark Nickel Value

With tens of millions struck, you’d think the Philadelphia issue would be easy to find in nice condition. It’s not.

No mint mark means Philadelphia. The strike quality is typically strong and well-executed. Look for full horn detail on the buffalo and sharp hair definition on the Native American portrait — those are the two areas that wear down fastest and serve as your primary grading benchmarks. A coin with crisp horn detail alone can jump an entire grade point on the Sheldon scale, and that translates directly into a premium.

Here’s what makes the top end wild: at MS68, only 10 examples are known to exist, with a single MS68+ specimen standing entirely alone. One of those MS68 coins sold for $57,500 at Heritage Auctions in 2007. The current CPG estimate for MS68 sits at $18,000, with the lone MS68+ valued at $42,500. For a coin minted in the tens of millions, the fact that fewer than a dozen survive in this condition tells you everything about the gap between high mintage and high grade.

Here’s a look at how the Philadelphia issue has performed at major auction houses over the years.

The chart below tracks recent market movement for the 1935 No Mint Mark Nickel.

 

1935-D Nickel Value

Did you know the 1935-D is the rarest issue of the entire 1935–1938 Buffalo Nickel run in both mint state and Gem condition? No other coin in that four-year stretch can match it.

Strike weakness is a known problem. Weakly struck horns show up constantly on Denver coins from this year. That means a fully struck, sharp-horned 1935-D in high grade is scarce by manufacture — not just by survival. Everything had to go right, and it usually didn’t.

Top-quality examples show what collectors call “frost quality” luster — a deep, velvety surface texture that immediately separates a premium coin from an average one.

Only 88 examples have been graded MS-67, with just 4 coins ever certified at MS-67+. A MS-67+ example sold at Stack’s Bowers on March 31, 2021 for $34,800, against a current estimated value of $40,000 for that grade. I think the 1935-D is one of the most underappreciated coins in the late Buffalo series.

These are the most notable hammer prices the Denver issue has achieved across graded submissions.

See how collector demand for the 1935-D has shifted across the current market.

 

1935-S Nickel Value

Most collectors assume earlier San Francisco dates are always scarcer. Not here. In mint state and Gem condition, the 1935-S is rarer than the 1931-S, 1936-S, and 1937-S — making it tougher to find at the top of the grade scale than some of the series’ more celebrated dates.

Strike quality is acceptable for a San Francisco issue, though some weakness pops up. Luster tends toward the grey brilliant type rather than the warmer, frostier surfaces you see on Denver coins.

A sharply struck, fully detailed 1935-S — one where the bison’s horn and the headdress feathers are crisply defined — is genuinely hard to locate. Those pieces command a real premium over average survivors.

The auction record backs it up: a 1935-S graded MS-67+ sold for $15,275 at Legend Rare Coin Auctions on March 21, 2019. That’s what scarcity in truly superior condition looks like.

The following records capture what buyers have paid for the finest surviving San Francisco examples.

This graph reflects where the 1935-S Nickel stands in today’s active market activity.

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

 

Rare 1935 Nickel Error List

Ninety years of circulation can hide some surprises. A few 1935 Nickels carry minting mistakes that turn a five-cent coin into something worth thousands.

1. 1935 Doubled Die Reverse (DDR)

This is the big one. The 1935 DDR is the only major doubled die reverse in the entire Buffalo Nickel series. Probably only a few hundred examples exist, most in low circulated grades. In uncirculated condition, the population may be no more than 20 coins worldwide.

The error happened during die production when the hub shifted slightly between impressions, permanently embedding the doubling into every coin struck from that die. The strongest doubling shows on “FIVE CENTS,” while “E PLURIBUS UNUM” has slightly less dramatic but still visible doubling. This isn’t subtle — even under modest magnification, the lettering separation is unmistakable.

Values range from around $120 to $30,000 depending on grade. The auction record sits at $104,650 for an MS-65 example sold at Bowers & Merena Auctions in August 2007. If you’re cherrypicking Buffalo Nickels at a show, this is the variety to look for.

2. 1935 Repunched Mintmark (RPM)

In the 1930s, mint workers hand-punched each mintmark into working dies individually. If the punch slipped or needed extra strikes, you got overlapping impressions.

Both Denver and San Francisco produced RPM varieties in 1935. The 1935-D shows a second “D” slightly offset on top of the first. The 1935-S carries its own S/S varieties. Under 10x magnification, look for thickening, a shadow impression, or a clearly offset secondary letter.

San Francisco S/S RPM varieties typically sell for $30 to $40. Denver D/D RPMs command $80 to $550 depending on visibility and condition, with the most expensive D/D example reaching $999 at auction.

3. 1935 Off-Center Strike

An off-center strike happens when the planchet sits crooked in the press. The design shifts away from center, leaving a crescent-shaped blank area on the opposite side.

The percentage of misalignment drives the value. Minor shifts of 5 to 15% typically bring $50 to $150. More dramatic examples at 30 to 50% displacement can command $200 to $500 or more. The most desirable off-center 1935 Nickels are those where the date and mint mark remain fully visible despite the shift — that combination of dramatic error and complete identification is what serious error collectors want most.

 

Where to Sell Your 1935 Nickel?

After determining what your coins are worth, you’re probably wondering about convenient online selling options. I’ve researched and compiled a guide to the best platforms, outlining their services, pros, and cons.

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

 

1935 Nickel Market Trend

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

 

FAQ about the 1935 Nickel

1. How do I know if my 1935 Nickel is worth keeping?

Start by checking the mint mark on the reverse. A “D” or “S” immediately puts your coin in a more valuable category than the Philadelphia issue. Then examine the bison’s horn and the Native American’s cheekbone under good lighting — those are the highest design points and the first to show wear.

If both areas are still sharp, you’re looking at least Extremely Fine, and that’s where value starts climbing. Spot any doubling on the inscriptions or an offset mint mark? Don’t clean it. Those are potential error coins that need professional evaluation first.

2. Where exactly is the mint mark on a 1935 Nickel?

Flip it over and look directly below “FIVE CENTS,” on the flat ground beneath the bison’s feet. “D” means Denver, “S” means San Francisco, and no letter means Philadelphia. On heavily worn examples the mint mark can be faint, so grab a loupe if you’re unsure.

The same wear that flattens the denomination also affects the mint mark. But even a partially visible letter is enough to confirm origin and directly affects value.

3. Why is the 1935-D considered the most valuable of the three varieties?

Several factors line up at once. The 1935-D is the rarest issue of the entire 1935–1938 Buffalo Nickel run in high grades. Denver’s production that year suffered from persistent strike weakness, especially on the bison’s horn. Many surviving uncirculated examples were weakly struck from the start and can’t reach gem grades no matter how well preserved they are.

Only 88 examples have ever been certified at MS-67, with just 4 reaching MS-67+. That near-impossibility at the top, combined with steady collector demand, pushes top-grade 1935-D examples well above what a Philadelphia coin at the same numeric grade would bring.

4. Is a worn 1935 Nickel worth anything?

Yes, but it depends on the mint. A heavily circulated Philadelphia example typically trades in the $2–$5 range. A similarly worn 1935-D or 1935-S fetches $3–$10 in Good condition, reflecting lower original mintage.

The real action starts in the Fine to Extremely Fine range, where branch mint coins pull away. The 1935-D in particular jumps sharply as condition improves — the gap between a Fine example worth $10 and a mint-state gem worth hundreds shows just how much grade matters on this date.

5. What does the Doubled Die Reverse look like, and how do I spot it?

The 1935 DDR is the only major doubled die reverse in the entire Buffalo Nickel series. During die production, the hub shifted between impressions, permanently embedding dual outlines into the die.

On the coin, the doubling is most visible on “FIVE CENTS” — the lettering carries a ghost impression slightly offset from the primary strike. “E PLURIBUS UNUM” shows it too, though less dramatically. Under 10x magnification the separation is unmistakable. You won’t need to squint. If you think you’ve found one, don’t clean it — take it to a professional grading service before drawing any conclusions about value.

6. Did the Great Depression affect how many 1935 Nickels survive today?

More than most people realize. By 1935, Americans were six years into the worst economic crisis in modern history. Nobody was setting coins aside — they were spending them. Most 1935 Nickels circulated until worn smooth or lost in a jar.

The preservation that did happen was mostly dealers recognizing branch mint issues as worth holding. That’s exactly why the 1935-D has a higher mint-state survival rate than Philadelphia despite far smaller mintage.

Out of more than 80 million 1935 Nickels originally produced, fewer than 45,000 uncirculated examples survive. The Depression shaped the numismatic landscape of every coin minted during it.

7. Are 1935 Nickels made of silver?

No. Despite the bright silvery look when freshly struck, 1935 Nickels contain zero silver. They’re 75% copper and 25% nickel — the same cupronickel alloy the Mint adopted in 1866. As coins circulate, the copper content shows through, shifting the color toward warmer brown or grey tones. The only U.S. nickels that ever contained silver were the Wartime Nickels of 1942–1945.

8. What grade should I aim for when buying a 1935-S Nickel?

Depends on your budget, but the 1935-S rewards patience at the higher end more than almost any other issue in the series. In circulated grades it’s accessible — a Fine or Extremely Fine example makes a solid entry point.

In mint state, the coin is genuinely scarcer than several earlier San Francisco dates with more traditional prestige. For quality-focused collectors, MS-63 and above is where the 1935-S starts to shine.

One caveat: always prioritize strike quality over the numeric grade alone. We think a sharply struck MS-64 is worth more to serious buyers than a weakly struck MS-65. Check the horn detail and headdress feathers first — experienced collectors always do.

9. Can I identify a 1935 Nickel error without sending it to a grading service?

For the DDR and RPM — the two most common errors — a 10x loupe usually gets you started. The DDR’s doubling on “FIVE CENTS” is visible enough for most collectors to spot without professional equipment. An RPM’s offset secondary impression becomes clear under modest magnification. Off-center strikes are obvious to the naked eye.

That said, self-identification is a first step only. Counterfeit error coins exist, altered mint marks are a known problem in this series, and telling a genuine Type 1 DDR from the far less valuable Type 2 requires comparison to authenticated examples. For any coin where real money is on the table, professional certification through PCGS or NGC is the only reliable protection.

10. How does the 1935 Nickel compare to other Buffalo Nickel dates in terms of collectibility?

In circulated grades, it’s a common date. Accessible for beginners, affordable for a complete date set.

Step into mint state and the picture changes. Among the 1935–1938 issues often grouped as common late dates, the 1935 coins are actually the relatively scarcer entries. The Denver issue outranks even the 1936 and 1937 Denver coins at the gem level.

Compared to the great series rarities, the 1935 is firmly common-date territory. But for collectors focused on condition rarity, a gem 1935-D or 1935-S is a genuinely challenging acquisition. Finding one with the right strike and grade combination can take years.