A 1925-S Buffalo Nickel in MS-66 sold for $87,400 — the highest price ever paid for any 1925 nickel variety. Your circulated example is worth $2–$60, but that 1925-D or Two Feathers variety in your jar? It could be worth far more.
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Get My Value Estimate →The Two Feathers variety (FS-401) on 1925-D and 1925-S nickels is the most collectible die variety of the date. Use this checklist to find out if your coin has it.
Three distinct feather tips are visible trailing behind the Native American's head on the obverse. The third feather, closest to the braid, is full and clearly separated from the other two. Dies are in normal condition with no unusual polishing marks around the headdress.
Only two feather tips appear behind the head. The third feather — normally the one closest to the braid ribbon — is absent or severely flattened due to die polishing or a die gouge. This is a recognized variety cataloged by CONECA and listed in the Cherrypicker's Guide. Found on D and S mint issues only.
The table below covers all three mints and the main varieties across four condition tiers. For a thorough step-by-step 1925 Buffalo Nickel identification breakdown including photo comparisons at every grade level, check that resource. Highlighted rows mark the signature Two Feathers variety (gold) and the rarest high-grade survivor (orange-red).
| Variety | Worn (G–VG) | Circulated (F–XF) | Uncirculated (MS-60–63) | Gem (MS-64+) |
|---|---|---|---|---|
| 1925 Philadelphia Common |
$2 – $8 | $15 – $60 | $80 – $165 | $250 – $5,500+ |
| 1925-D Denver Scarce |
$10 – $30 | $50 – $200 | $300 – $650 | $1,500 – $57,500+ |
| 1925-S San Francisco Rare in Gem |
$4 – $20 | $25 – $130 | $200 – $500 | $2,500 – $87,400+ |
| 1925-D Two Feathers (FS-401) Variety |
$130 – $300 | $400 – $900 | $900 – $1,500 | $1,500 – $2,200+ |
| 1925-S Two Feathers (FS-401) Extremely Rare |
$55 – $150 | $200 – $500 | $500 – $1,200 | $1,500 – $3,750+ |
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Five distinct error types and die varieties have been documented on 1925 Buffalo Nickels. They range from easily found cherrypicked varieties worth a few hundred dollars to museum-caliber rarities that push into five figures. Here is what to look for on every coin you examine.
The Two Feathers variety is the most celebrated die variety of the 1925 Buffalo Nickel series. It results from die polishing or a die gouge that obliterated one of the three feathers trailing behind the Native American's head on the obverse. The Fivaz-Stanton designation FS-401 applies separately to both the Denver and San Francisco mint issues, confirming it was an independent die defect at each mint facility.
To identify it, examine the obverse feather tips at about 5× to 10× magnification. On a standard coin you will count three distinct tips fanning behind the head. On the Two Feathers variety the innermost feather — the one closest to the braid ribbon — is completely absent or reduced to an indistinct flattened area. The surrounding die surface may show faint polish lines radiating away from the missing tip, a telltale sign that a grinder removed the feature rather than wear erasing it.
Collectors pay a premium for this variety because it is recognized by both PCGS and NGC for separate certification, giving it official numismatic status. The 1925-D Two Feathers consistently commands higher prices than the 1925-S counterpart due to the lower base mintage of the Denver coin. Greysheet lists the 1925-D FS-401 from $130 in worn grades up to $2,200 in gem mint state, while the 1925-S FS-401 ranges from $55 to $3,750 depending on grade and eye appeal.
The Repunched Mintmark variety on the 1925-S Buffalo Nickel (designated FS-501) occurred when the mintmark punch was applied to the working die in two slightly different positions. The result is a doubled S impression — a primary S with a secondary S partially visible below, beside, or overlapping it. This was a common production method of the era: mintmarks were hand-punched into each working die individually, and repositioning was not unusual.
Identifying this variety requires a 10× loupe or stereo microscope aimed at the S mintmark below the FIVE CENTS legend. Look for an extra serif, a shadow S, or a displaced curve of the letter appearing alongside the primary impression. The secondary S on FS-501 shows most clearly in the lower portion of the primary letter's opening. On heavily worn coins the secondary punching may be impossible to distinguish without higher-powered magnification.
The FS-501 designation is recognized in the Cherrypicker's Guide and carries a premium most visible in EF and better grades, where the doubling detail survives circulation. In circulated Very Fine grades, collectors add a meaningful premium — sometimes 50–100% over base 1925-S values. In mint state, well-attributed examples are rarely offered and can command significant multiples over a plain 1925-S of the same grade.
An off-center strike occurs when a planchet enters the collar and receives the hammer die blow while not properly centered. The result is a coin where the design is compressed into one portion of the blank while the opposite area remains an unstruck, curved expanse of bare metal. The degree of misalignment is measured as a percentage of the coin's diameter and directly determines the premium collectors will pay.
A minor 5–10% off-center strike moves the design just slightly, and while noticeable with a trained eye, commands only modest premiums. Dramatic examples — those shifted 40–60% off center — are the ones that generate the highest excitement and value, particularly when the full date and mint mark remain visible within the shifted design. An off-center Buffalo Nickel with the date intact at 50% off center is a genuine rarity.
For 1925 Buffalo Nickels, general Buffalo Nickel off-center strike guidance suggests minor 5–10% examples retail for $50–$75 in Extremely Fine condition, while dramatic 40–60% off-center strikes with the full date visible can sell for $200–$400 or more depending on eye appeal, centering aesthetics, and collector competition. The specific mintmark (D or S) on an off-center coin adds another layer of value and desirability.
A clipped planchet error results from a flaw in the blanking process at the coinage strip level. When the punch that cuts circular planchets from the metal strip overlaps a previously punched hole, it produces a planchet with a curved section missing from its edge — the characteristic arc-shaped clip known as a Blakesley clip. The void is smooth and curved because it follows the geometry of an adjacent punch hole. Straight clips, where the punch overlaps the end of the strip, produce a flat clip with a different appearance.
On a 1925 Buffalo Nickel, examine the entire edge for any area where the rim abruptly ends in a smooth curved concavity rather than the normal round, reeded edge. A Blakesley effect — a weakened or missing design directly opposite the clip on the other side — confirms the error origin versus damage. The Blakesley effect occurs because metal cannot flow normally into that area of the die during striking, leaving corresponding design weakness.
A 1925 Buffalo Nickel in Extremely Fine condition with a clipped planchet error has been offered at approximately $40 at retail, with premiums increasing proportionally to clip size. Major laminar clips — those removing 15–25% of the planchet — command the highest values, sometimes 5–10× the base coin price. Collector demand for well-attributed Buffalo Nickel planchet errors has grown steadily as the series gains broader audience appreciation.
The wrong planchet error — when a Buffalo Nickel die pair strikes a blank intended for a different denomination — represents the pinnacle of 1925 nickel error coinage. The most dramatic known variant involves the Buffalo Nickel die striking a silver dime planchet (90% silver, 17.9mm diameter versus the nickel's standard 21.2mm). During busy production runs at the mint, planchets from different denomination hoppers could occasionally be mixed, and when a misaligned blank reached the striking chamber, the result was a mule-like anomaly bearing Buffalo Nickel design on the wrong metal and size.
Identification is straightforward compared to most Buffalo Nickel errors. The coin will measure noticeably smaller — roughly 17.9mm — compared to the 21.2mm standard. It will feel lighter at approximately 2.5 grams versus the normal 5.0 grams. The color will appear silvery rather than the typical gray-brown of copper-nickel alloy. Portions of the design will be cut off by the smaller planchet's perimeter, creating dramatic design truncation on all sides.
Only a handful of 1925 Buffalo Nickels struck on dime planchets are known to exist, making this among the rarest error types in the entire Buffalo Nickel series. Even worn examples command five-figure prices based on their extreme scarcity. Should a gem or near-gem example ever come to market, bidding could push well past $100,000. Any suspect coin should be immediately submitted to PCGS or NGC for authentication, as counterfeits exist made by altering genuine dimes.
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| Mint | Mint Mark | Mintage | Relative Rarity (Circulated) | Relative Rarity (Gem MS) |
|---|---|---|---|---|
| Philadelphia | None | 35,565,100 | Common | Modest |
| San Francisco | S | 6,256,000 | Scarce | Extremely Rare |
| Denver | D | 4,450,000 | Rare | Extremely Rare |
| All Mints Combined | — | 46,271,100 | — | |
Despite their three-mint combined total of over 46 million pieces, far fewer gems survive than the numbers suggest. Buffalo Nickels of the mid-1920s were struck with heavily worn dies, especially at the Denver and San Francisco Mints, producing softly detailed coins from their first day of issue. Coins that technically never circulated still look weakly struck — and weakly struck coins suffer in grading. The practical survival rate of well-struck, high-grade 1925-D and 1925-S examples is dramatically lower than the raw mintage numbers imply.
Buffalo Nickel grading is complicated by notorious strike weakness. Before assessing wear, determine whether weakness is from circulation or from a weak original strike — the difference can mean hundreds of dollars.
The Indian's face is flat and outline-only. The date is readable but may be weakly defined. Buffalo's horn is gone entirely, and the hip merges with the field. LIBERTY is visible but blends near the rim. Philadelphia examples in this grade are common and worth $2–$8.
High points on the Indian's cheek and crown show wear but design details remain. The buffalo's horn is partially present in Fine, fully present in XF but still flat at the tip. Luster is absent. All legends and the date are sharp. 1925-D examples in VF can reach $75–$150.
No wear from circulation, but surfaces show contact marks and bag abrasions typical of coins jostled in mint bags. Luster is complete but may be impaired. The hip must show no wear — only original mint frost. Check the Indian's cheek and braid for the faintest trace of wear.
Full frosty luster on all surfaces. Contact marks are light (MS-64) to nearly absent (MS-65/66). Strike must be above average for the date — the horn, buffalo shoulder, and date should be crisp. The rare MS-66 level requires virtually no imperfections visible to the naked eye and is worth thousands on the D and S mints.
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The right venue depends on your coin's grade and rarity. A worn circulated example can sell quickly on eBay; a gem-quality D or S mint should go to auction.
The best choice for any 1925-D or 1925-S in uncirculated or gem grades, and for certified error coins. Heritage's record sales for 1925 nickels include the $87,400 1925-S MS-66 and the $57,500 1925-D MS-66. Consignment fees apply but the competitive bidding environment typically produces better net returns than private sale for rare coins.
An excellent venue for circulated examples and mid-grade uncirculated coins. Review recent sold prices for 1925 Buffalo Nickels on completed eBay listings before setting your price. PCGS or NGC certified coins consistently sell for meaningful premiums over raw (ungraded) examples. Set auctions to 7 days ending Sunday evening for maximum bidder participation.
Fast and convenient for common circulated 1925 Philadelphia examples. Expect to receive 40–70% of retail value — dealers need margin to resell. The advantage is immediate cash with no shipping, photography, or listing hassles. Bring multiple coins to a single visit to maximize your time; dealers may offer better overall terms for a group than individual pieces.
A growing secondary market for numismatists. Raw circulated 1925 nickels sell at fair prices with low fees. The community expects professional photography and honest grading — misrepresented coins damage reputation. Good option for mid-range coins ($20–$150) where auction fees would eat too much of the realized price. Trades for other Buffalo Nickel dates are also common.
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