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The 1935-S Buffalo Nickel represents a significant installment in one of America’s most celebrated and uniquely designed coin series. Introduced in 1913 and minted through 1938, the Buffalo Nickel—officially known as the Indian Head Nickel—was the creation of sculptor James Earle Fraser. This series marked a departure from the more classical coin designs of the past and embraced a bold, uniquely American aesthetic centered on the native peoples and fauna of the United States. The 1935-S issue was struck at the San Francisco Mint during the later years of the Great Depression. As such, it reflects a period of economic hardship in the U.S. while also showcasing the enduring quality and artistry of early 20th-century American coinage. In Extra Fine (XF) condition, this coin presents an ideal blend of detail and affordability, offering a clear window into the coin’s full design and historical significance.
The obverse of the 1935-S Buffalo Nickel features the profile of a Native American man facing right, modeled as a composite from several individuals, including Iron Tail, Two Moons, and possibly John Big Tree. Fraser's powerful design captures the dignified, strong features of the subject with remarkable realism. In Extra Fine condition, the major facial features—forehead, cheekbone, lips, and jaw—remain clearly defined, with only minor wear on the highest points such as the cheek and braid. The headdress feathers are distinct, with some flattening at the tips but most internal lines visible. The date “1935” is sharply legible, though the numerals may exhibit slight wear. Below the date appears the small “S” mintmark, indicating the coin's origin at the San Francisco Mint. The word “LIBERTY” is fully readable along the upper right rim, although it may be softly struck in some specimens, typical of the series.
The reverse of the coin features an American bison, commonly referred to as a buffalo, standing on a flat plain. Fraser reportedly based the model for this bison on Black Diamond, a well-known specimen from the Bronx Zoo. In Extra Fine condition, the overall shape of the buffalo is complete and well-defined. The horn remains partially visible, though usually somewhat worn—horn detail is a key grading point in Buffalo Nickels. The shaggy fur around the shoulder and head shows considerable texture and separation, while the midsection and hindquarters exhibit smoother areas due to wear. The inscriptions “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” curve around the top, with “FIVE CENTS” clearly visible at the bottom. The raised mound beneath the bison's hooves still retains some shape, though its top may show light flattening.
The 1935-S Buffalo Nickel was struck at the San Francisco Mint, a facility well known for its lower-volume production compared to its Philadelphia and Denver counterparts. That year, the San Francisco Mint struck 10,300,000 nickels. While not among the rarest of the Buffalo Nickel issues, the 1935-S is moderately scarce in Extra Fine and higher grades due to circulation and strike characteristics common to the series. Many pieces were used in commerce throughout the Great Depression, and only a portion were preserved with the surface quality collectors seek today. As such, well-struck, problem-free examples in XF condition are particularly desirable for both type collectors and series specialists.
Coins in Extra Fine condition show light overall wear, generally confined to the highest relief areas, but with all major features remaining distinct. For the 1935-S Buffalo Nickel, this means clear separation in the hair braid and feathers, a defined cheekbone, visible horn and shoulder detail on the bison, and full, readable legends. The fields on both sides may show minor contact marks from circulation, but the coin should exhibit consistent coloration and an attractive appearance overall. Luster may still be present in protected areas, although it is typically diminished in XF specimens.
The 1935-S Buffalo Nickel was part of a broader return to artistic excellence in American coinage during the early 20th century. James Earle Fraser’s design sought to celebrate native culture and American wildlife at a time when both were being increasingly romanticized. The realistic, sculptural nature of the design proved challenging for the U.S. Mint to strike uniformly, and many Buffalo Nickels—especially those struck in San Francisco—are known for softness in certain areas, such as the date and the buffalo’s horn. As a result, XF examples with clear detail and strong strikes command premium interest from collectors and represent a higher tier of quality for circulated pieces.
From a visual standpoint, an Extra Fine 1935-S Buffalo Nickel offers an outstanding presentation of Fraser’s full design. The deep facial structure of the Native American remains strong, and the bison retains its powerful posture and overall shape. Wear is noticeable but not detracting, and the essential characteristics that define this beloved series remain intact. The coin’s color should be a medium to darker gray, sometimes with hints of golden or steel toning, depending on storage conditions. The best XF examples feature even wear, smooth surfaces, and strong eye appeal, making them ideal for collectors who want a piece of history with substantial design integrity.
The 1935-S is also notable as one of the last full-production Buffalo Nickels before the series began to wind down. Just a few years later, in 1938, the Jefferson Nickel would replace it, ending Fraser’s quarter-century masterpiece. As the series concluded, collectors began to recognize its historical and aesthetic importance, and interest in preserving higher-grade examples increased. The 1935-S remains a desirable semi-key date, especially in better circulated grades such as XF, where availability narrows but the coin remains within reach for many collectors.
For those building a complete Buffalo Nickel set or a high-grade circulated type set, the 1935-S in Extra Fine is an excellent choice. It is a coin that combines historical resonance, distinctive design, and solid numismatic value. Its San Francisco origin, late-series placement, and relative scarcity in higher grades enhance its desirability. Certified examples from trusted grading services like PCGS or NGC can offer additional assurance of authenticity and quality, which is particularly important given the coin's popularity and the presence of counterfeits or altered dates within the Buffalo series.
In conclusion, the 1935-S Buffalo Nickel in Extra Fine condition is a highly collectible and visually impressive artifact from one of America’s most artistically celebrated coin series. With strong design elements, minimal wear, and historical significance tied to both the Great Depression and the closing years of Buffalo Nickel production, it serves as a powerful tribute to Fraser’s vision and an enduring favorite among U.S. coin enthusiasts. Whether for its artistic merit, its historical context, or its representation of early 20th-century American minting, the 1935-S remains a timeless and essential addition to any serious numismatic collection.